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There is another good Elliott Wave Analysis program, called Elwave.
Have a look: http://www.prognosis.nl/
Regards,
Onno Goedknegt
At 22:58 4-8-98 EDT, you wrote:
>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
>
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