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While not a purist's approach to EW, I think that there is a great deal
to be said for simplicity ... if the pattern is clear, it can be traded
and if it's not clear one should stand aside until it is clear. Not that
one might not miss some trades from correct interpretation of complex
patterns, especially all those zig zags and complex's, but trading is a
business of stacking the odds in one's favor so risk/reward should be
more favorable where the patterns are clear. For those reasons I prefer
Robert Miner's simplistic and straightforward approach to EW.
Earl
----- Original Message -----
From: "Steven W. Poser (psn)" <swp@xxxxxxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxx>
Sent: Friday, November 17, 2000 7:39 AM
Subject: RE: [RT] Elliott Wave
> For some reason, my previous response did not get through.
>
> I have the Neely book. He has taken EWave beyond anything Elliott
wrote to
> the degree that it does not look like EWave anymore. The book is a
tough
> read. Neely may be an excellent analyst, but this book is not for
beginners.
> Every rule has 20 other rules attached to it. Wave counts from Neely
> followers look nothing like anything written by other EWavers. That
does not
> make it wrong or right, it just means that it is not what Elliott
wrote (in
> my opinion).
>
> You should get the book by Prechter/Frost of Elliott's original works.
Or,
> for the self-serving part of me, the book "New Thining in Technical
> Analysis: Trading Models From the Masters" and read the chapter that I
wrote
> on Elliott.
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