I am Greg and a relatively new live trader.
Spent a long time with a Demo account not getting anywhere until the end of June last year when I spotted something I had never noticed previously. Wondered about this pattern I was seeing and checked across all time frames, currencies and backwards as far as I could go into historical data. In every case I saw the same pattern or variation of the pattern in the data and realised that I could trade from this with reasonable certainty after working out what would happen to direction at the end of the triangle. I have been using this as part of the basis for my practice trading and now live trading ever since.
This radically turned around my practice trading and took my practice account from being (after 7+ years practice) really quite small at a little over $18k almost back up to the starting point of $100,000 in just four months.
Subsequently found out that I had seen corrective wave triangles which forms part of the Elliot Wave Principal as described in Elliot Wave Principal by Frost & Prechter.
What I am looking for is someone who has a real deep grasp of The Elliot Wave Principle to help me understand first, third and fifth wave extensions and how to tell them apart. Are there any basic rules of thumb I can use as a guide to get me started. I am prepared to put in the time and effort to learn if someone can point me in the right direction.
Never put limits on your imagination. There is no telling where you will end up or what you will discover...