All Entries in the "Trading Tips" Category
How to use Fibonacci Ratio Retracements
Choosing the right place to draw fibonacci retracements could mark the difference between success and failure in trading decisions.
Trading and training of the Will
“To aggressively pursue opportunity and equally aggressively refrain from risk when opportunity is not present requires a highly developed Will. We train ourselves for our careers, and we train ourselves physically. Rarely, however, do we train the Will and cultivate our capacity to act with purpose and intent.” Dr. Brett Steenbarger. There are many good [...]
Introduction to Elliott Wave Analysis
Welcome to the magical world of Elliott Wave Analysis. You have probably arrived here because you wish to learn more about Elliott Wave Principle and how to use it to improve your trading performance. Whether you are trading in the foreign exchange market (forex) or in stock markets or commodities, you have come to the [...]
Elliott Wave Analysis of Forex
If you are trading in the Forex markets, and wish to learn how to use Elliott Wave Analysis to trade currencies profitably, then you should start by reading the book “Elliott Wave Principle Applied to the Foreign Exchange Markets” written by Robert Balan. I have had the pleasure of discussing many wave counts with Robert [...]
Why Elliott Wave analysis is useful – Part 1
I use Elliott Wave analysis to give me an idea of where we are in an unfolding move, and also how far that move could go. If there is one important lesson I have learnt in using Wave Analysis, it is this: Your analysis could be the best in the world, but until the move [...]
Why Elliott Wave analysis is useful – Part 2
There are certain times when one can be more confident about using wave analysis. One such time is when we are approaching the end of an extending 5th wave, or soon after we start coming off from an extended 5th wave. In my earlier post on the usefulness of wave analysis, I have shown you [...]
How to trade a Head & Shoulders chart pattern?
The Head and Shoulders formation in probably the best known formation among traders. This post looks at how to trade this chart pattern. First, when you seek to identify a formation as a head and shoulder top, you are trying to figure out a ‘reversal’ pattern. This is different from a continuation pattern. When one [...]
Elliott and Gann is a winning combination!
If many traders are intrigued by Elliott Wave Principle, then it is fair to say that most traders are foxed by Gann. It is fair to say that anyone who can master both Elliott and Gann has with him a very powerful winning combination. In this page, I am going to use the chart of [...]
Fibonacci Number Series
Elliott wave analysis of stock market or forex or commodity market would invariably involve the use of some Fibonacci numbers to arrive at targets for corrections or projections. If you had searched the Internet for some information about the Fibonacci number series, you would have found a lot of material, but few explain it clearly enough. So this post aims to fill some of the gaps.
How to trade a “Head & Shoulders” formation?
I have added a page on this subject under Elliott Wave Magic. The link can be found on the side of this post. But first, let us take a quick look at what are the basic ingredients for a head and shoulders top. 1. There should have been a prior up trend 2. The head [...]
Beware of newspaper predictions!
Elliot Wave Analysis is more reliable than your newspaper reports. But let us face it. We have grown up in a society where most people believe what they see in print. (True, a lot of people also believe what they hear on CNBC!). Let me share with you a recent headline in the “Telegraph”, a [...]
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Some of you have written that by the time you receive the email update, the market has moved, or it is the next day 
May I recommend that in addition to subscribing to the email updates, you also click on the RSS button at the top right corner of the home page?
My Trading Philosophy
Its been a long hard road that I have travelled. Many lessons have been learnt, not by paper trading, but by losing real money. I have read dozens of books, and experimented with several methods. One thing is certain. You never cease to learn while dealing with the markets. Somewhere along the road, the fog [...]