Why do i keep buying at the wrong time?

[murray t turtle]

Time frames are irrelevant. ...............

%%
LOL
Try telling that to some one you have a RE a contract with;
or a lawn mow contract with\ or your broker when he emails or mails your monthly loss statement for not cutting a loss\again\again .
You said you were blowing up your account , did you mean 1st or 6th account ??
SAT timeframe , about 1;00 CST /2024 AD.................

 

[wxytrader]

%%
LOL
Try telling that to some one you have a RE a contract with;
or a lawn mow contract with\ or your broker when he emails or mails your monthly loss statement for not cutting a loss\again\again .
You said you were blowing up your account , did you mean 1st or 6th account ??
SAT timeframe , about 1;00 CST /2024 AD.................

What? It's the same cycles.

 

[deaddog]

Time frames are irrelevant. Same price cycles at different degrees. IMO Elliott wave should be mandatory teaching for traders, like a drivers test is for drivers. If you don't have an understanding of EW then you are only seeing snapshots, not the big picture, so you formulate erroneous conclusions about price action.

The problem I have with EW is that price has to move before you can draw the wave. Same as any indicator.

 

[wxytrader]

The problem I have with EW is that price has to move before you can draw the wave. Same as any indicator.

Indicator?? Lol what? EW is a method based on statistics. Have you not seen me chart 6 months out in the future? My entries and exits are months out always. I was buying JAN19 16 calls back in Sept months before the move. I've had this chart drawn in since A...and price is now approaching X...or completed X heading down to A for the double ABC correction.

If it breaks the .50 fib then likely headed down to A, if not then we could be headed up to X. If it blows through X then we are off to the races after a single correction.

 

[Wide Tailz]

The problem I have with EW is that price has to move before you can draw the wave. Same as any indicator.

Bob Prechter opened my eyes, years ago, when his team completely changed their months-long wave counts (and bearish forecast) in 2010, after the indices blasted thru "resistance"...

They deleted a complicated corrective wave and "diamond top" and just redid it all with compounding impulse waves. That made the light bulb go on for me.

It's very rare to see anyone use waves to get in, unless they are also using HSR, momentum, volume, inside info, or just fading the emotions of new traderz.

We need an indicator for their biometrics, in real time!

 

[wxytrader]

Bob Prechter opened my eyes, years ago, when his team completely changed their months-long wave counts (and bearish forecast) in 2010, after the indices blasted thru "resistance"...

They deleted a complicated corrective wave and "diamond top" and just redid it all with compounding impulse waves. That made the light bulb go on for me.

It's very rare to see anyone use waves to get in, unless they are also using HSR, momentum, volume, inside info, or just fading the emotions of new traderz.

We need an indicator for their biometrics, in real time!

There is no support and resistance levels in EW unless you are talking Fibonacci levels...price levels mean nothing.

Complicated corrective waves? Corrective waves are how you take entries!

 

[SimpleMeLike]

What? It's the same cycles.

Hello wxytrader,

Without a fraction of a doubt, you are the second most smartest ET member on the planet, IMO.

Your words have improved my trading mental greatly.

Thank you,

 

[rb7]

Hello wxytrader,

Without a fraction of a doubt, you are the second most smartest ET member on the planet, IMO.

Your words have improved my trading mental greatly.

Thank you,

I hope this is irony....

 

[SimpleMeLike]

I hope this is irony....

Hello rb7,

I am not sure what you mean by irony.

But I really like how wxytrader theory or mental approach on trading. It matches mine as well.

I appreciate him.

 

[wildchild]

trying to figure out if there is some faulty programming that makes me see something that is not there.
I got caught in this exact type of chart pattern more than i can count. So obviously there is something in that chart that is making me think that its a good entry point.

Where chart cuts off is where i bought. Thinking that it will have another run up.
The price seemed to have a strong push upward wirh alot of green order walls coming through.
The volume was good.
And then it reversed and buying pressure just died.
I dont want to mention the ticker yet because i want to see what other people see when looking at that chart.
Is there a trap that im not seeing in this move?
Can yall tell me wha you see on this chart?
I want to compare it to what i see and maybe find the fault in my thinking

"There is a tide in the affairs of men, which, taken at the flood, leads on to fortune."

Shakespeare