Elliott Wave Theory - Motive Wave Rules:

-Wave 2 never retraces >100% of Wave 1
-Wave 4 never retraces >100% of Wave 3
-Wave 3 always travels beyond Wave 1
-Wave 3 is never the shortest of either 1,3,5.

The goal of a Motive Wave is to make Progress. Elliott Wave Theory - ZIGZAG Corrective Wave Rules:

-Made up of 3 waves (A,B,C)
-Internal Wave Sturcture: 5-3-5 always
-B-Wave must not retrace >100% of A-Wave

The key is knowing the end of the C-wave:

-Await lower-degree 5 wave move reversal - likely marks birth of new Wave-1

My trading mistakes and how I corrected them.

A megathread.

By Dan Holy.

Wanted to share with you the mistakes I made at the beginning and how I changed my ways.

This is as honest as I can be.

Enjoy :)) I opened my first account.

Excited. Hopeful. Wide eyed.

I craved greatness. I still do.

But I had no idea what I was doing.

At this point, with hindsight, I would class myself as a danger to myself financially.

And what's the word for that?

Oh yeah,

liability.

Macro outlook:

Europe looks set for a second wave of covid. Watch your index trackers. Lockdowns will hit global stocks again.

Watch for London reaction.

I'm personally beginning to reduce exposure to equities again.

Pharma stocks love a lockdown though. Watch closely. -UK currently has local restrictions on 9 million people.

-France is setting records for daily cases.

London stocks didn't even recover half their losses from previous fall.

I don't like where this is heading so will today be placing protective measures on my capital.