Isolating the Best of Elliott Wave

[Matt Bowen]

Isolating the Best of Elliott Wave

Most new traders spend the majority of their time looking for a system that has an unrealistically high win / loss ratio. Those still seeking a system that consistently produces winners more than 50% of the time in the long term haven’t learned that surviving the market means knowing how to deal with losses. Such traders are looking for the Holy Grail, and it doesn’t exist.


http://www.esignaluniversity.com/education/marketmaster/archive/0505/050605.asp


-Matt

[Muddy Farmer]

Yep, that's what it's all about: managing risk. It took me a long time to wrap my head around this concept. That's why I lurv MTPredictor - it shows you between the eyes, so to speak, the risk v reward of trade set ups. And Steve drills it home in part 2 of the trading course. If you're like me, sometimes you need to be hit on the head and shown clearly why one trade set up deserves your trading capital over another.
We don't have unlimited trading capital, so we gotta pick the best trades with the best edge to minimise risk and max our reward. The risk/reward function of MTPredictor works for me.

Also, anyone yet read Terry Burnham's Mean Markets and Lizard Brains ? Sounds like a fascinating read.
http://www.wiley.com/WileyCDA/WileyTitle/productCd-0471602450.html