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Elliot Wave is confusing to me. It seems like it's so open to interpretation. When I look at charts I see multiple points where someone could decide a wave starts or ends. I probably just dont know enough about it.
Of course you can make a living, but even with a solid strategy, you still need a pretty large starting balance to make any real money. And by large I mean probably atleast $10,000.
I have been trading with just a small amount of money at a time, so I would say I generally trade without fear. Greed on the other hand o_O ruins me every time! Lol
I have been trading for a year. Overall I have lost money, but my most exciting moment was scalping gold on the 1min chart based on price action. It was actually working and i was really in the zone!
I have lost $1200 over the course of a year, but have learned a lot. $100 per month for an exciting hobby with the potential to pay off in the future doesn't seem so bad.
I think knowing what kind of impact news is going to have on a pair is one important quality of a successful trader. So many times I have entered what would have been a technically successful trade only to be ruined by news :mad:
This is one of the hardest parts about trading in my experience. I'm sure if I was better at finding the best entry it wouldn't be such an issue though :rolleyes:
I realize this thread is old, but I might as well give my experience for anyone else with the same question. I did not have success with forex pin. The yellow arrows dissapear and the volume indicator repaints. It was not reliable for me.
I have no problem with Dennis, he seems like a nice guy and people do have success with the system. That being said, I did not have success. The signals repaint so often that it is not reliable at all. At one point I started thinking that if I had just done the complete opposite then I would be...
Out of all of Dennis's products, this was the only one that tended to work for me more often than not. The patterns did repaint and dissapear though. In the end I stopped using it because of that.
In my experience, waiting for the confirmation box doesnt usually work. It tends to signal very late, and by the time it does the price sometimes starts to reverse and the opposing confirmation box triggers.
I can confirm that the 2020 version does repaint. It's extremely frustrating. The blue arrow cannot be trusted, and even waiting for the yellow box, it signals so late that the price usually reverses right away and the opposing yellow box appears.