Elliott Wave Theory can seem like a dream come true to traders. It offers traders a description of how markets should behave, with precise rules that help identify price targets in advance.
In this article, we will develop a strategy that can be used by part-time traders to capture the large moves being seen in the markets from day-to-day.
A reality of part-time trading is that you may not always have time to trade every day. Full-time traders will have a daily schedule and routine tasks will be a part of their day. This is a definite advantage for traders who make a living from the markets, and ultimately you need to find time to become a successful trader.
New traders often approach educational material with the attitude that if it’s free, it can’t be any good. They willingly pay thousands of dollars for courses and systems, and they are often disappointed.
Diversification is an effective risk reduction tool and should include trading different strategies. Almost all trading strategies consist of rules that use price as an input, and almost every trading indicator relies solely on price in its calculation.