Posts

GBPJPY short term bearish, long term bullish

I am taking a small short trade on GBPJPY and going to ride (ii) to (iii) and then catch the uptrend from (2) GBPJPY Hourly view for elliott waves June 18 2018 by daviddecatosignals on TradingView.com

Following a trading system is soo important

After watching hundreds of hours of videos and then finally finding out about the Elliot Wave Principle I have learned a lot of quick tricks that can be used for making quick trades. However the quick trick trades can be far and few between, in that it might only happen once a day and that is a long time to wait to make one trade. So after spending loads of hours watching and checking on candles I was quite relieved to find Elliot Wave Principles. This lead me into doing a lot of TA before trading, in fact on Sunday of this week I spent 4 hours doing TA that I would use throughout this week. I set up the patterns on trading view charts so that I could easily track my trade ideas to where the price was actually going and also to make looking back at trades so much easier. I have to admit, that some training videos said it is important to use a trading journal, however I didn't follow that discipline enough in the beginning. By setting up the trades on trading view charts and t

Setting up a trading system

I have learned that a bunch of TA before trading goes a very long way. Essentially, it is a lot less stressful to do TA on Forex on a Sunday during the day using daily charts to lay out the projected trend for the week. From then breaking it down into 4h and 1 hr time frames for each trade. So here is my routine so far: Sunday 1. TA for Forex and Crypto for the week ahead using daily, 4h and 1h charts. 2. Select the currencies with the best trade set ups 3. Create Daily chart, 4h and 1 hour chart on trading view for each currency. (Do all charts for one currency, then start next). 4. Publish charts on Trading view 5. Publish charts on my blog 6. Calculate Risk Reward for daily trades (longer term trades) Use 5 to 1 as default ratio. Do daily trades with 0.5 lot size, do hourly trades with 0.4 lot size to easily distinguish. 7. Set pending trades for all trades set ups where possible, First 1 hour trades and first day trades only. 8. Set up alarms for trade levels

BTCUSD Trade idea June 17 2018

Here is my btcusd trade idea today, base on elliott waves BTCUSD short trade idea by daviddecatosignals on TradingView.com

EURJPY Trade Idea June 17 2018

Here is my trade idea for EURJPY June 17 2018 trade idea for EURJPY JUNE 17 2018 by daviddecatosignals on TradingView.com

USDCAD trade idea for the week of June 17 2018 based on elliot waves

USDCAD appears to be in a corrective wave and I am going to take a short position at the height of ((Y)) and close at the low of ((X)) on the 240 chart. USDCAD trade idea for the week of June 17 2018 by daviddecatosignals on TradingView.com Essentially this post is serving as my trade journal, which using trading view to track this is something amazing, simply cause I can come back in a day and hit the play button to update the chart and see how my trade idea is doing. So with that in mind, I don't want to just look at the 240 chart I also want to look at the hourly, which really is where I probably should look to enter my trade and I also want to look at the daily as that is showing the trend and will also show my bail out plan in case my wave analysis is not correct. So, I am going to use the same read of the 240 and apply it to the 1 hour chart here: --- 1h USDCAD June 17 2018 by daviddecatosignals on TradingView.com And I am looking at the Daily