tag:blogger.com,1999:blog-4878316162397365683.post1048358157507654742..comments2023-11-06T06:01:49.605-05:00Comments on Principle Analysis: an Elliott Wave Blog for Forex Signals, Futures Signals and Stock Signals: Elliott Wave Forex Signals - Closed GBPJPY Long at 528 Pip ProfitUnknownnoreply@blogger.comBlogger2125tag:blogger.com,1999:blog-4878316162397365683.post-5316576086840843212016-12-21T16:30:20.619-05:002016-12-21T16:30:20.619-05:00Bosun,
I would say that it simply depends on the ...Bosun,<br /><br />I would say that it simply depends on the specific trade which will determine whether using stop losses are viable. My signals usually generate to identify the conclusion of a strong 3rd wave, and I trade the resultant 4th wave. This is very risky, and most wavers wouldn't do this. But this is my niche area. Because of that, I used stop losses all the time and would get whipsawed out of the market right before the trade moves in my favor. So I take on a small position, and only use a catastrophic stop loss to allow the trade to work so that brokers who "stop hunt", widen spreads, etc. to knock people out of trades cannot take me out.<br /><br />On the other hand, if your trading the end of a wave 2, you should use a stop loss just beyond the start of wave 1 since that would invalidate the wave count. Same with trading the end of a 4th wave, you should have a stop just above the end of wave 1, because that would invalidate the count.<br /><br />So it depends on how you're trading the setup and the wave count. I hope that answers your question.Toddhttps://www.blogger.com/profile/13808483934573587351noreply@blogger.comtag:blogger.com,1999:blog-4878316162397365683.post-38643942727132585402016-12-20T13:07:03.854-05:002016-12-20T13:07:03.854-05:00You said:
"I only have catastrophic stop loss...You said:<br />"I only have catastrophic stop losses in for both as I want it to have room to run for the next few days or weeks without constantly getting stopped out from over-trading and overthinking the move higher."<br />Why is it that most elliot wave traders don`t pay much attention to the use of stop losses? I have been following elliot wave analysts and coaches since 2007. I notice they hardly use stop losses.Can you please tell me why.Thanks.<br /><br />Bosun<br /><a href="www.fxglory.com" rel="nofollow">FxGlory</a> remains my best broker since 2014.<br /><br />Oyewole Olatunbosunhttps://www.blogger.com/profile/11242223605592103436noreply@blogger.com