Some professional fund managers would be happy to get a 12% return in a year. On a Dax 1-minute chart, you'll often see opportunities for that in less than an hour, as we found this morning. I wasn't alone in getting that trade and this one only took half an hour. A 1% risk gave a 12% return - you can do the sums if you'd rather risk 2 or 3% per trade.
So how do you do it? Using eWavesHarmonics, looking to buy the dips and sell the rallies ... seeking the lowest pip-risk, as in the above example. After the London Open, price fell a little, before slowly making its way up, in a 5 wave move - this looked like the first motive wave up and we know they come in threes. After that, it was just a matter of waiting for a correction
There was much more than 12R available this morning. My first entry was just tagged with a trailing SL - for a little over 1R - could have been managed a bit better, I admit. No bother, though, the correction that took me out, immediately provided another entry, as price corrected to test a small momentum gap (you are missing out big-time, if you don't pay attention to the small gaps). The second trade had profits locked at 12R - then it was just a case of seeing where price might go to. As it happened, it went as far as the H1 kick-start gap and promptly reversed. Perhaps some more upside to come later ... we will see when New York wakes up.
Want to know more? Check out the Trader Training course, where all is explained.
After many years in the making, the eWH Wave Finder is now available - exclusively for eWH licence holders as a one-time purchase (for a very nominal fee)..
Not only can you use this to provide an at-a-glance view of the wave counts, on all your favourite instruments, across all the timeframes (except M30 because I dislike that TF); you can also use it on a single chart to show the target zones from the higher timeframes - look for confluence to support your trading decisions.
This short video shows it in action, with a nice example on BitCoin.
You can get the eWH Wave Finder from the ewH Shop - link on th eWH Installation Page.
A month has already passed since the last blog post - doesn't time fly when you're having fun ... Since the last post ...
More updates to eWH - as you can see from the above pic, there has been a change to the buttons. The Clusters button is appropriately named and related buttons have a similar look to the main eWH buttons. The 'Show All' button, next to Options, is bigger as well. A few other changes also made and the latest Beta upgrade is available for download, as v2.01 now.
I've received many requests for some example trades by other traders, who use eWH and have done the course. A few have now been added to the end of training course - with more to come. These are mostly M1 DAX and DOW trades at the moment but we'd all like to see some nice examples from other timeframes and instruments - please email them over as MT4 weblinks, if you have something that you're particularly proud of and want to share.
Cours de trading maintenant avec la narration en français, grâce au travail acharné d’Erik. 8 vidéos terminées jusqu'à présent et nous espérons tout finir d'ici la fin juin.
Where is EURUSD off to? Keep an eye on those cluster-clusters and don't forget to mind the gap :)
Finally, congratulatons to Liverpool and commiserations to Spurs, for the Champions League Final, yesterday. I know quite a few Arsenal supporters who are happy with the results ... strange that :D