Re: winwaves 32

[Tjgarrison@xxxxxxx]

Hello,

I have been using Winwaves for about a year and a half.  I have not upgraded
to Winwaves 32 because I need to squeeze all the value I can possibly get out
of the original version to justify the high price I paid for it.

Here is what I have found:

*  It gives you an objective wave count based on Prechtor's rules applied by a
   computer.  Takes some the subjectivity out of a wave count.

*  The preferred wave changes quite a bit from day to day.  I think this is
the nature of 
   wave counting - It provides a probable pattern but that probability is
changed with 
   each new day's worth of data.  It can be frustrating to invest based on a
wave count 
   only to see the preferred wave count change several times.

*  Sometimes I can see and follow the same wave counts reported by Elliott
Wave 
   Theorist.  In April, 1997 my Winwaves analysis did not coincide with EWT
report.  
   It turned out that Winwaves was correct when we finished the correction and
   started making new highs.   Its nice to synchronize with EWT each month and
   have the tools to follow a wave count throughout the month.

*  Sometimes no wave count can be found.  I have put on a position only to
have the 
   wave count disappear.  I have been looking for a TA backup (Metastock) to
allow 
   me to exit a trade just in case the count disappears. 

*  The date you choose for your starting point is very important to the
accuracy of 
   your analysis.  You need to have an idea of the larger wave count to know
what 
   you are looking for.   Should the unfolding wave be impulsive or corrective
based on 
   the higher order wave count?  I pull the maximum 3300 data points to get an
idea 
   of the larger wave count so I know what to look for in smaller waves.

*  Many times there are two valid wave counts - one points up, the points
down.  
   After an hour of analysis, I tell my wife " After a thorough study of the
market, it will 
   either go up or it will go down".  She laughs and replies, "I could have
told you that 
   an hour ago."

Are there any other Winwavers lurking on this Metastock list?

Best Regards,

Terry Garrison
Tjgarrison@xxxxxxx