|
PureBytes Links
Trading Reference Links
|
Hi,
In my opinion only a forward looking indicator will work for traders. What is the point in finding the right fit of a pattern after it is completed? Yes you can conclude that the next move will be x, but then the algorithm will reanalyse and find a better fit that will invalidate move x. Zigzag is always labeled as unreliable because the last leg is dynamic, if you know how to use it, you will know when it becomes static or confirmed. No tool is perfect and this is why you must use a combination. I have been trading with Zigzag incorporated in my indicators and those trades averaged better than most other tool-induced trades. Eugene assumes that all EW software is based on zigzag because the wave principle itself is an alternation of impulsive and corrective moves, hence a zigzag. In fact, many do not use zigzag at all but attempt to fit predefine patterns to price movement while using some filter to eliminate whipsaws. Any person that buys a plug-in or a software, must learn the basic concepts used as well as having some knowledge of the market environment. It is the responsibility you have when you acquire a tool.
Regards,
Robert
-------Message original-------
De : Metastockusers@xxxxxxxxxxxxxxx
Date : 15 février, 2003 03:34:16
A : Metastockusers@xxxxxxxxxxxxxxx
Sujet : Re: [Metastockusers] Elliot Wave Suggestion
Hi,IMHO plug-in does not make money if uses forward looking indicators (likeZigZag and relates with the ZigZag).I think that all EW plug-ins based on ZigZag. EW plug-in allow show goodscreen and that is all. For real life trading it's useless. And as I guessin case big lost EW author can say - "You must understand agood deal about techncial analysis".Best regards,Eugene Labunsky.http://www.MetaStockMedium.comhttp://www.NNOracle.com> for the money, the best Elliot Wave software is the AlphOmega> plug-in for Metastock. The software comes with an enormous number of> explorations, systems,formulas and templates.>> The creator of this software takes great pride and improves it with> each successive release. I've been using the software since its> inception. The software is not for beginners! You must understand a> good deal about techncial analysis to use the large variety of> formulas that come with the software.>> I feature some of the AlphOmega charts in my weekly publication,> "The Amernick Market Report.">> For the money, it's the best software of its kind out there. Metastock> should add AlphOmega to its family of add-ins. It's much better than> many of the current choices.>>>>>>> To unsubscribe from this group, send an email to:> Metastockusers-unsubscribe@xxxxxxxxxxx>>>> Your use of Yahoo! Groups is subject to http://docs.yahoo.com/info/terms/>>>To unsubscribe from this group, send an email to:Metastockusers-unsubscribe@xxxxxxxxxxxYour use of Yahoo! Groups is subject to http://docs.yahoo.com/info/terms/ .
________________________________________________________________ IncrediMail - La messagerie électronique a enfin évolué - Cliquer ici
Yahoo! Groups Sponsor
ADVERTISEMENT
To unsubscribe from this group, send an email to:
Metastockusers-unsubscribe@xxxxxxxxxxx
Your use of Yahoo! Groups is subject to the Yahoo! Terms of Service.
Attachment:
Description: ""
Attachment:
Description: ""
|