$EURUSD Elliott wave count 30min chart

My gold position is still alive (currently with slight gain.) But the rally is not as strong as I prefer so far. So I moved my stop loss to $1168.5 to be on the safe side. The current risk exposure is only 0.17%.

Now here is my Elliott wave count for EURUSD 30min chart. I will wait for an initial descent below or around 1.3264 and will get ready to set stop sell entry order after the pull back.

Long $gold and short EURUSD.

I don’t have much time today, so just updating the chart.

I entered a long position for gold from $1172. Stop loss at $1159. In ideal scenario, $1194 will be the target.

I also entered a short position for EURUSD from 1.3130. Stop loss is at 1.3277. Ideal initial target is 1.2950, then 1.2700.

A Jesse Livermore quote on braveness

Today, I suddenly remembered what Jesse Livermore once said….or Laurence Livingston said in Reminiscences of a Stock Operator, I should say.

Reminiscences of a Stock Operator

If all I have is ten dollars and I risk it, I am much braver than when I risk a million if I have another
million salted away.

Well, Mr Livermore, that might be brave as you said. But it is certainly reckless, and such person is surely going to go bankrupt…as you did several times in your life.

I am chicken and only risk 2% of the capital in one trade. But so far the return is something I can be happy about.

There are lots to learn from his words and life. I don’t agree with him for everything, but every point he makes is what a speculator must stop and think time to time.

I found a nice page that has a collection of his quotes.

Real time trading tweets

The plan in the article may get rejected any time, so please check out my tweets on Twitter.

Current risk exposure:

Rational Move always use stop loss orders, and this is the worse case potential loss over the capital for the currently open positions. This is unrealized loss is less or equal to the risk exposure.

Capital growth

From recent 100 trades (%) The growth right before the 1st trade is set to 0%.
About this graph


From recent 100 trades (%)
About this graph

Total returns

Since inception
(Aug 10, 2009)
Year-to-date Quarter-to-date
0% 0% 0%
This is a normalized value: the return on each trade is normalized against the capital just before the trade execution. This way, it is eliminating the effect by the capital change from deposits and withdrawals. The calculation thus reflects the trading performance of each trade. The value does not contain unrealized profits and losses. RM's trading strategy never risks more than 5% of the present capital. Not including subtraction by tax.

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April 2010
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