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Hi Ken:
I think wave 1 and 2 (primary) are very difficult to identify, unless
the calculation of C is on target. Still, I don't think one can
predict where Wave 1 would end. Also, wave 2 could retrace most of
Wave 1. So, the safe bet is Wave 3, 4, 5 and C -- what pattern a and
b make, would define wave C.
Regarding wave 4, my understanding is that the 4th usually retraces to
the 4th wave of the previous degree. Hence, many a times when it is
clear that we are in the 4th wave, the calculation could be
straightforward.
I haven't studied Demark much. It comes as a default with Bloomberg's
technical package and hence I see it all the time but I have never
applied or studied it. I will definitely read Jason Perl's book when I
get some time.
EW is pretty fascinating overall. My guess is that: A good system
trading strategy can help one pick 4% to 5% per annum (on a large
portfolio) excess return. Overlay that with technical or fundamental
analysis (assuming one is good), and one could add another couple of
percentage points. But if you one has the above two with with a
directional strategy (EW for instance), one could add significant
alpha. Of course, the wave count needs to be more or less correct. And
if they are not, then one has to have a good fall back plan.
Regarding Royal Bank of Scotland, what's your alternate count?
Rajiv
On Sun, Jun 14, 2009 at 4:12 AM, Ken Culbert<kenwynchurch@xxxxxxxxx> wrote:
>
>
> Hi Rajiv
> I'll look out for Steve Poser's book.,thanks for that. I am very interested
> in Elliott waves if only to help identify 3,5 and C wave. Recently I've also
> revisited Tom Demark and his lessor known theory on how to identify Elliott
> waves. Jason Perl wrote a book which I have on Demark indicators and goes
> into the Elliott wave identification.. I'm not the best coder re Metastock
> but I am having some success with coding Demark indicators..bit too early to
> know if this is going to translate into sucessful trades though. Next week I
> put my Elliott ndicators to work on Royal Bank of Scotland which is flagging
> the end of wave 4 and beginning of wave 5...just hope it's not an expensive
> lesson! The issue I have with Elliott wave is not identification of waves
> but knowing ultimately when will it all end..........entries are relatively
> easy, its the exits/stops I have to really improve on.
> Regards
> Ken
> ________________________________
> From: Rajiv Vyas <rajiv1@xxxxxxxxx>
> To: equismetastock@xxxxxxxxxxxxxxx
> Sent: Sunday, 14 June, 2009 12:54:33 AM
> Subject: Re: [EquisMetaStock Group] Re: ELWave Add on for Metastock
>
> Hi Ken:
>
> Thanks for the suggestion. I will download it in the next few days. I
> am also currently juggling with coming up to speed with Amibroker --
> much more steeper learning curve then MS, in my opinion. But it has
> some features for which I would need to pay up for in MS.
>
> Regarding Elliott, I've been following it on and off for ten years or
> so, but became much more serious in the last two years. I like Glenn's
> work. Haven't read his book yet, but is in my reading list and will
> get to it in the next three months or so. Right now am reading Gann
> Made Easy and the next in line is Steve Poser's book: Applying Elliott
> Wave profitably.
>
> Regards,
>
> Rajiv
>
> On Thu, Jun 11, 2009 at 12:47 AM, Ken Culbert<kenwynchurch@ yahoo.com>
> wrote:
>>
>>
>> Hi Rajiv
>> If you have managed to stay sane on the 5th read it sounds like your
>> learning curve is heading for an ABC correction.. ..seriously if you
>> already
>> have a grasp you are way ahead of most people...download the free
>> AlphaOmega
>> manual and see if it makes sense. I'm no expert on Elliott but know enough
>> to make use of the software..always learning . For an alternative way at
>> looking at Elliott waves try google search on Glenn Neely.
>> Regards
>> Ken
>>
>> ____________ _________ _________ __
>> From: Rajiv Vyas <rajiv1@xxxxxx com>
>> To: equismetastock@ yahoogroups. com
>> Sent: Wednesday, 10 June, 2009 8:50:30 PM
>> Subject: Re: [EquisMetaStock Group] Re: ELWave Add on for Metastock
>>
>> Thanks Ken. What would be the learning curve in terns of using this
>> software. Regarding EW, I'm on my fifth read of Prechter's book -- so
>> EW learning curve for me is never ending.
>>
>> Thanks.
>>
>> On Tue, Jun 9, 2009 at 6:11 AM, Ken Culbert<kenwynchurc h@ yahoo.com>
>> wrote:
>>>
>>>
>>> I'm actually referring to a more updated version 5.7. Alphaomega Elliott
>>> Waves is a program available through Equis which is developed by Robert
>>> Tasse. I bought the most up to date version from Robert at his web site
>>> http://www.alphomeg aew.com/, which also was cheaper. Robert will also
>>> allow
>>> you to download the complete manual without purchasing the program and
>>> also
>>> allow you to use the free demo version to try out (without credit card).
>>> I
>>> would suggest you log on to his website and contact Robert if you have
>>> any
>>> queries. He is only too happy to answer questions, in my experience.
>>> If after trying out the above you still have queries re chart patterns
>>> then
>>> I will try to help. My experience of Elliott waves as applied to equities
>>> is
>>> that it is a steep learning curve but a very profitable one if you can
>>> identify say the end of a wave 4/beginning of wave five.. I struggled
>>> with
>>> this for some time (and still do) but have found that the Profitunity
>>> indicators that come with Metastock are very helpful (read Bill Williams
>>> stuff on Chaos and how to us AO indicator to identify Wave 4), as is the
>>> AlphaOmega software. However I have to add that I only became quite
>>> proficient and precise at wave identification when I moved up to
>>> Metastock
>>> Pro and QuoteCentre using smaller timeframes to identify say the end of
>>> Wave
>>> 4 by looking at say the wave 5 within wave 4 (only possible on 10 min
>>> chart).
>>> As I say it is not the Holy Grail as I also use it in combination with
>>> Demark signals and Kase indicators.
>>> Hope this helps
>>>
>>> ____________ _________ _________ __
>>> From: Alvin Yu <alvinyu2005@ yahoo.com. sg>
>>> To: equismetastock@ yahoogroups.. com
>>> Sent: Tuesday, 9 June, 2009 10:50:03 AM
>>> Subject: Re: [EquisMetaStock Group] Re: ELWave Add on for Metastock
>>>
>>> Hi kenwynchurch
>>> Are u refering the MetaStock Plug-Ins and Add-Ons AlphOmega Elliott
>>> Waves 4.3 from Equis that is good for W3,5 & C per your experience ?
>>> I am looking for a software that can tell these .Can u share with me
>>> on
>>> one of the chart patterns using the add-on ?
>>>
>>> Looking forwards for this
>>>
>>> rgds
>>>
>>> ____________ _________ _________ __
>>> From: kenwynchurch <kenwynchurch@ yahoo.com>
>>> To: equismetastock@ yahoogroups. com
>>> Sent: Monday, 8 June 2009 8:54:31
>>> Subject: [EquisMetaStock Group] Re: ELWave Add on for Metastock
>>>
>>> Can't vouch for the comparison as I've never compared it. My requirements
>>> only need to confirm if I am in Elliot wave 3,5 or C so the add on meets
>>> my
>>> needs. If you need a general check where you are in the Elliot wave count
>>> you should look also at Profitunity signals on Metastock expecially if
>>> like
>>> me you have the Pro version. The Profitunity system is very accurate at
>>> locating Wave 4 in particular.
>>>
>>> --- In equismetastock@ yahoogroups. com, Rajiv Vyas <rajiv1@xxx> wrote:
>>>>
>>>> Thanks. How good are the counts per se i.e. how do they compare with
>>>> wave counts of people like Steve Hochberg and Bob Prechter?
>>>>
>>>> Thanks,
>>>>
>>>> Rajiv
>>>>
>>>> On Thu, Jun 4, 2009 at 7:52 AM, kenwynchurch< kenwynchurch@ ...> wrote:
>>>> >
>>>> >
>>>> > --- In equismetastock@ yahoogroups. com, Rajiv Vyas <rajiv1@> wrote:
>>>> >>
>>>> >> Has anyone tried ELWave add on for Metastock? What are you opinions?
>>>> >>
>>>> >> Thanks,
>>>> >>
>>>> >>
>>>> >> --
>>>> >> Rajiv
>>>> >>
>>>> > Have tried this for past six months without making a useful trade.
>>>> > It's
>>>> > a
>>>> > tool but hardly a key one in my arsenal..... .adds an extra layer of
>>>> > complexity to trading which does not suit everyone.... .my
>>>> > advice......
>>>> > try
>>>> > the free demo version before buying the full one. I now use AlphOmega
>>>> > add on
>>>> > (better value) to confirm Elliott wave count (also available in Demo
>>>> > version).... ...but I never trade on Elliott wave count on its own.
>>>> >
>>>> >
>>>>
>>>>
>>>>
>>>> --
>>>> Rajiv
>>>> Sent from Baltimore, Maryland, United States
>>>>
>>>
>>>
>>> ____________ _________ _________ __
>>> New Email names for you!
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>>> Hurry before someone else does!
>>> ____________ _________ _________ __
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>>>
>>>
>>
>> --
>> Rajiv
>> Sent from Baltimore, Maryland, United States
>>
>> ____________ _________ _________ __
>> Need a Holiday? Win a $10,000 Holiday of your choice. Enter now..
>>
>>
>
> --
> Rajiv
> Sent from Baltimore, Maryland, United States
>
> ________________________________
> Need a Holiday? Win a $10,000 Holiday of your choice. Enter now..
>
>
--
Rajiv
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