Here is a quick blog from our Live Trading Room host, Dan Hussey. Take a look at how to manage your risk by using inflection zones and Elliot Wave to your advantage. The Live Trading Room is held daily at 8:00 AM EST , join Dan there for more insight into these proven methods of trading.
Trading is not easy, and its IMPOSSIBLE to be correct 100% of the time! The last week has been clear cut proof of this concept, with multiple break even stop outs, and even some full stops… IT HAPPENS… ITS UNAVOIDABLE… ITS APART OF TRADING!!! The most important idea, however, is that you do not let it demoralize you AND that you keep an objective outlook on the market. This means that no matter the situation, you keep your head up, and your eyes looking forward. Trading isn’t about winning, its about how must you do not loose!
The AUDUSD started the week by taking us out of our initial short setups around the .7340/.7350 area. We didn’t let this stop us from diving further into market price action, and hoping back on the proverbial horse when the moment was right. As you will see in the video, after we took a hit, we immediately began looking at BOTH sides; a long and a short, and whichever traded first was the setup we would take. We were able to capitalize on this in the moment, and take a some solid setup… IN REAL TIME!
AUD/USD Live Trading Room – Live Trading 6/7/2016 – 6/9/2016
This video is a highlight from the Live Trading Room (the daily recap for subscribers). We utilize Elliot Wave in conjunction with technical’s to provide the best Elliot Wave Analysis of the markets. Remember, trading isn’t about how much you make, or being right, its about managing risk. Inflection zones have a high probability to trade from their ENTRY areas to their T1 (first target). We exploit this statistical advantage by using Elliot Wave and inflection zones to manage our risk, while looking for setups in the direction that the EWF charts suggest. Join us daily from 8:00 AM EST!