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Rod Smith wrote:
> I am working through Robert Miner's Dynamic Trading book. I have not been a
> big believer in Elliot Waves, at least in their predicative capability.
> Miner's book is the first book on Elliot waves that makes sense to me in
> using them in trading. I can see where if you were going to trade his
> methodology, using his software would save a tremendous amount of time. The
> problem I have with it is the price, currently $1700. I am a position
> trader of futures with a moderate sized account. I also have had some
> exposure to an earlier version of the Advanced Get program. A friend had it
> and I used to play with it some. I could not see how it could be worth
> $2700 although it seemed to have some potential. I would like to get some
> input from people who use either or both programs as to whether they give
> you an edge in the market, whether you use them alone or in conjunction
> with other methods, and most of all whether you think either is worth the
> price. Thanks in advance.
>
> Rod Smith
> Wasilla, AK
Rod,
I think Elliott Wave has two strong points. It is good for forecasting the
wave form for the markets,
i.e. how the market is going to get "there" and how far the market is likely to
go before the next wave. Elliott also serves well as a good descriptive
language that one can use in conveying one's opinion of the market's current
or previous position. I think one weak point of Elliott is timing. It does not
do well at telling you when or how much time one should expect for the next
turn or wave. It think think this function is better served by the Astrological
approach and other time vs. price methods made famous
by W.D. Gann. I think that combining Elliott, Astro, and Gann techniques
together can provide the most powerful arsenal of market analysis.
Triply,
Norman
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