Hi everybody,
YES, we are about to launch the long-expected Elliott Wave course soon! Before we start the course - as promised - I am attaching a proposal of schedule for the course, which I hope will serve as a starting point. Any suggestions or comments from your part are much appreciated, as always.
"Understanding and Trading Elliott Waves" is a beginner to advanced course which requires no prior knowledge of waves. It is structured in 2 modules, corresponding to what I would call the EW "theory" and "practice" respectively. My view on the issue is that a trader must first UNDERSTAND the mechanisms of the EW, the rules and guidelines, the types of waves, etc., however all this knowledge will only be useful if we apply it in real market conditions. That is why the first module will just prepare us to move on to what we REALLY care about
: finding profitable setups and TRADING them successfully, with proper money management strategies applied
The analysis we will perform during the course will serve as educational examples only, and will NOT be directed towards actual live market situations (which is actually our main LTR focus). The course body of knowledge should serve as a basis for our LTR sessions and be a constant reference point whenever we are looking at a live setup.
I would like to thank you guys very much for the interest shown for this course, and hope to have as many of you as possible attending our upcoming classes. I see this as a great chance to turn you into EW fans, and I definitely want to give this my best shot!
Together we will see if the EW theory really works in practice (I consider it my task to show you that it actually does), and once the course is finished we could start analyzing setups together on the forum and during our LTR sessions for the purpose of always improving our techniques, our MM strategy and our profits.
Will keep you updated via our "official" course forum thread (which is yet to be created
).Thanks, and hope to see you soon for some EW action!
Understanding and Trading Elliott Waves
Instructor: Mihai Marinescu, FXInstructor.com
Level: Beginner to Advanced
Duration: 16 hours (2 modules X 4 courses X 2hrs each)
Course Plan:
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Module 1: UNDERSTANDING ELLIOTT WAVES- Introduction. Basics of EW
- Brief presentation of the course;
- Why EW? Advantages of analysis and trading based on EW;
- The psychology behind EW;
- Q&A session;
- EW Formations
- Main EW Formations, types of waves and how to recognize them on the chart;
- Drawing a basic EW;
- Q&A session;
- Rules and Guidelines
- Introducing rules and the most important guidelines;
- Bending the rules;
- Q&A session;
- Putting it all together
- Levels (1D, 4H, 1H);
- Drawing a complete EW picture with 3 levels (red/black/blue) on a fresh chart;
- Q&A session;
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Module 2: TRADING ELLIOTT WAVES- Building a strategy
- The 3 steps of our strategy: bias -> setup -> entry;
- Step 1: Using trendlines, channels and Fibonacci levels with EW;
- Indicators to use with EW: MA (20MA, 200MA), Stochastic Div.
- Q&A session;
- From Analysis to Trading
- Step 2: Ways to determine a high probability setup;
- Ideal entries on EW (conservative/aggressive) where on the wave should we take a trade?
- The pairs and their specific characteristics: choice of pairs, timeframes;
- Q&A session;
- Pulling the Trigger
- Step 3: Elements of trade stops, targets, confirmation points on EW;
- Ways to increase your Win/Loss ratio & Risk/Reward for each trade;
- Putting it all together: review of the entire strategy / a complete EW analysis;
- Q&A session;
- Money Management and Final Observations
- Money management principles and how to implement them with EW setups;
- Conclusions and possible directions;
- Q&A session.
Understanding and Trading Elliott Waves - Proposed Schedule
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