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the lack of agreement betwen elliott practitioners come from 2
troubles:
1. some people thinks that knowing the absolute base of the system
is
already an authority ( i met once somone that said to i know how to
count to
5 and i know abc, im an elliotist)
2. most elliott practitioners doesnt understand that elliott works
backwards
form the usual technical analysis techniques, in Elliott you start
with
endless posibilities and you work your way to start to dismiss some
of them
as the market gives you more data, until you have the ones with the
highest
probability.
In addition to this points , tom joseph's (the developer of
advancet
get)attitude is crucial, a trader mus trade the third wave, and
shouldnt
take the RN Eliott own system (he thought you should trade the 5 of
5 of 5
that you could see in the intraday cahrt), 'cause let's face it none
of us
is Elliott himself ;)
Finally and additional approach is the one of glenn neely who
improved the
elliott theory to the point he devloped a new theory based on it, by
the
name of "neowave", in which additional rules are included so
recounting is
rare. But the Neowave system is far to complex, i stick to the
Elliott
theory, which is my specialty
As a final note should tell you that no one will convince you, for
instance
my own partner doesnt velieve in it, with all the proff in our
trading, so
if he that is with me all day trading side by side doenst blieve in
it ,
what the probability you will? ;)
atte Pablo Paolucci
foro.terminusa.com
investment online community
--- In equismetastock@xxxxxxxxxxxxxxx, superfragalist
<no_reply@xxxx> wrote:
>
>
> Sorry to disappoint you, but I don't have strong opinions about E
> Waves. All you have to do to change my mind is produce the studies
> from recognized systems developers, testers, etc. showing that E
Wave
> trading produces anything beyond mediocre results. I hear a lot of
> antidotal stories from traders who say E Waves are the cat's ass
when
> it comes to trading. Prove it.
>
> I particularly liked your statement: "The interesting thing is
that
> the most successful systems are often those which have been
written
> by and for Professional Traders often based on there many years
> trading experience, and are systems they still use today."
>
> I've read dozens of books on systems development by Stridsman,
Pardo,
> Conway, Kaufman, Colby and others. I don't recall E Waves being
used
> in any of their systems. I guess they just overlooked them.
>
> Some real studies showing how well E Waves, Gann, and Murrey Math
> work is all I need to completely change my mind. Got any! No. Why
> not?
>
> Here's a slide presentation by Tim Mayes, a professor of finance.
> It's an introduction to technical analysis. At the end of the
slide
> show he mentions E Waves and asks the question do they work. His
> comment that you can't find two practitioners that agree on the
wave
> count; and therefore, the predictibilty of anything, about says it
> all.
>
> http://clem.mscd.edu/~mayest/FIN3600/Files/FIN3600_8.ppt
>
> Well,I guess the information on E Waves from the Turtle site was
> complete BS. Why don't you send them an email and tell them to get
> their head out of their derriere's.
>
> The original post didn't ask what works year in and year out. It
> asked about Elliot waves, which is what I replied to.
>
> Here is a summary of my response. Elliot Waves are very, very
> difficult to read correctly, if they work, which is far from
proven.
> The vast majority of people who try to use E Waves never seem to
get
> it right and quit after spending large sums of money on E Wave
> software, books and training. No studies exit to document the
> effectiveness of E Waves. The people who use E Waves to trade and
> have made some money are very passonate about E Waves being the
> grail.
>
> So what about my your question about what works.
>
> If you really, really want to know, you can subscribe to Roy's
> newsletter. There's a lot of indicator, systems development,
> exploration and trading information in there. And it works.
Believe
> it or not, the average human mind can actually understand what's
in
> there and apply it.
>
> Unlike E Wave and other cyclical training and materials, it only
> costs about $120 a year. That's less than the price of commissions
on
> a handful of trades.
>
> To this point I haven't seen anything that says, proves or hints
that
> E Waves produce better trading results than a couple of moving
> averages. Since moving averages have been used since trading
began,
> and are still used by an overwhelming majority of professional
> traders, I'll stick with them.
>
> However, Equis has a money back program, so any one who wants to
try
> the Alpha plug-in can risk free. If you can't figure out how to
trade
> with it in 30 days, you should send it back.
>
> It's really that simple.
>
> PS Here's a statement I made in my first post. Just like the one
you
> made, I like it too.
>
> "For the those who love waves, instead of bad mouthing what I'm
> saying, produce a study from one major systems developer whose
work
> is published, that says that E waves or Gann or Murry Math or
> whatever gets the job done. Just one real, unbiased study from
> someone who actually develops systems for a living."
>
>
>
> --- In equismetastock@xxxxxxxxxxxxxxx, "mikesimmonsuk"
> <mjsimmons@xxxx> wrote:
> >
> >
> > I am sorry superfragalist but you are very wrong.
> >
> > In the UK, USA and Australia many analysts are using Elliott
Waves
> > very successfully.
> >
> > I have been using Dynamic Trader for several years and have
> produced
> > some astonishing results using the Elliott Wave theory.
> >
> > The Elliott Wave indicator in the Investors Dream software is
also
> > excellent in pre-empting trend changes.
> >
> > I agree that if you follow any system mechanically and blindly
you
> > will fail - however, if you are disciplined and take the time to
> > understand the basics and interpret the signals produced using
the
> > Ellott Wave you can be very successful.
> >
> > In the UK, Elliott Wave theory is used by many major financial
> > institutions as one of the tools in their technical analysis
> armoury.
> >
> > You obviously have some very strong beliefs about the Elliott
Wave
> > approach which you do not accept as being viable.
> >
> > What would be interesting to hear from you is a list of the
> technical
> > indicators that you have found work successfully, and from which
> > produce financial rewards year in and year out.
> >
> > I am certain that all members of this group would also like to
hear
> > from you about this, and would appreciate your help in pointing
> them
> > in the right direction.
> >
> > Regards
> >
> >
> > Mike Simmons
> >
> > PS: The interesting thing is that the most successful systems
are
> > often those which have been written by and for Professional
Traders
> > often based on there many years trading experience, and are
systems
> > they still use today.
> >
> > Those systems written by software technicians without trading
> > experience are often those which fall short over a period of
time.
> >
> >
> > --- In equismetastock@xxxxxxxxxxxxxxx, superfragalist
> <no_reply@xxxx>
> > wrote:
> > >
> > >
> > > Elliot Waves--plug-in--okay. I haven't used the plug-in, but
> here's
> > > my experience with waves of all kinds. They don't work. You're
> > > wasting your time. There has never been a study published yet
> that
> > > shows that Elliot waves produce anythng but mediocre returns.
> > >
> > > For the those who love waves, instead of bad mouthing what I'm
> > > saying, produce a study from one major systems developer whose
> work
> > > is published, that says that E waves or Gann or Murry Math or
> > > whatever gets the job done. Just one real, unbiased study from
> > > someone who actually develops systems for a living.
> > >
> > > You will spend countless amounts of money and time even trying
to
> > pin
> > > down what an Elliot wave system is. When you get poor results,
> > you'll
> > > be told you just don't understand how the system works. Well,
> > that's
> > > your first clue. If you can't understand it in ten minutes or
> less
> > > you shouldn't be using it.
> > >
> > > The big banks have spent multi-millions looking at every
trading
> > > system you can think of including waves, AI, all kinds of
> > statistical
> > > models, etc. You don't see any of them using anything close to
E
> > > Waves. On almost all trading screens you'll find MA's, not E
> waves.
> > >
> > > However, all Equis plug-ins come with a 30 day, no questions
> asked,
> > > money back guarantee. They honor it everytime. So you have
> nothing
> > to
> > > lose except your time.
> > >
> > >
> > >
> > >
> > >
> > >
> > > --- In equismetastock@xxxxxxxxxxxxxxx, "rvalue1"
<rvalue1@xxxx>
> > wrote:
> > > >
> > > >
> > > > There was only one e-mail posted on this subject and I
> appreciate
> > > the
> > > > input. Could anyone else using Aphomega Ellioo waves comment
on
> > its
> > > > usefulness as a metastock plug-in? Really could use the
> feedback
> > > from
> > > > this forum. Appreciate your time to send me your thoughts.
Also
> > > > interested in buying used copy from someone who might have
> tired
> > of
> > > > it or found it not so good. Looking for version 5.0 for
> Metastock
> > > > 8.01. Thanks for your input..
> > > > --- In equismetastock@xxxxxxxxxxxxxxx, "rvalue1"
<rvalue1@xxxx>
> > > wrote:
> > > > >
> > > > >
> > > > > I checked out older archives on Elliott waves plug-in and
> > looked
> > > up
> > > > > Aphomega site as they have the only Metastock certified
> > software
> > > > for
> > > > > Elliott waves for metastock. Can someone who purchased it
> tell
> > me
> > > > if
> > > > > they like what they see and how accurate it might be for
> higher
> > > > > volumes and index trades? I heard that advanced GET was
> pretty
> > > > darned
> > > > > good with its Elliott waves and PTI/ prediction for the
5th
> > wave
> > > vs
> > > > a
> > > > > double top.. I am not too keen to spend $2.5K on advanced
> GET
> > as
> > > > of
> > > > > yet..
> > > > > Also would like to know if it has an exploration to look
for
> > good
> > > > > correlated stocks that have decent volumes that are ready
for
> > the
> > > > 5th
> > > > > wave..
> > > > >
> > > > > Would appreciate some serious feedback..
> > > > >
> > > > > Rvalue1
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