When I was trying to decide what kind of trader I’ld be best being, I decide Its probibly going to be long term trades that I would be best with. At the time I was working alot and now that I have a bit more time this can change but I’ve spend so much though on this that I’m going to use it, while looking into other options. Any and all feedback would be appriceated 
The basic concept is fairly simple: Trending markets tend to trend very well. The Elliot Wave theory suggets that a market will not go in a straight line.
For the setup, I look for a trending market that is going against its trend, but not too much. Right now the best example is the USD/JPY. Its going down, trending very well on the daily. Recently bulls have been winning, but not likley for long.
Now this is widley known and fairly reliable. The risk/reward is pretty good because I wait for it to downturn and go back with the trend, then join I join the trend. Simple premise, not so simple execution! I’m working on a way to get in early enough to be profitable and worthwhile, which 10-20% into a trend is. I also need to find a way out of a trend, 10-20% backdrop is again, ok. This gives me 60-80% of a trend, I’m ok with that – for now.
This is what I have an am currently tweeking:
WMA(14), RSI(14) and I also use heiki ashi instead of candlesticks, and tredlines ofcourse to see clearly support/resistance. and Fibonacci retracments.
The idea that I’m working on is that when it gets near a fib point, if its going to turn price action will cross below the WMA, and RSI will show that its over bought/sold. Now its not likley for all of them to happen at once, and I can afford to wait a candle or two to be sure. (the part that I know, but am working on doing, and doing consistantly :o )
Does this sound like a good plan? When I’ve hammerd out the details I’ll be sure to update it! I need to test this theory with backtesting, have been forward testing it for a bit now, will probibly have to wait after I have money in my live account longer then I’ld like to – but I’ld rather be ready first.
Thanks for all constructive feedback!