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Miner is looking at Elliott wave from the perspective of usefulness in
making a trading decision. For instance, if there is a clear five-wave, or
three-wave count, then it can be very useful information. In addition to
Elliott pattern analysis, he also analyzes price and time using Fibonacci
time and ratio counts. When these three dimensions of market activity
converge (pattern,price, and time) a high probability turn is often at hand.
His approach and free tutorials based on his approach can be found at his
web site:
www.dynamictraders.com
Regards,
Tom Alexander
Alexander Trading & Management
----- Original Message -----
From: Steven W. Poser (psn) <swp@xxxxxxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxx>
Sent: Friday, November 17, 2000 10:39 AM
Subject: RE: [RT] Elliott Wave
> Earl -
>
> I am only familiar with Bob Miner's work on a second hand basis. I have
seen
> positive and negative reviews of his stuff, though far more positive than
> negative. I definitely agree with the overly complex approach not making
> sense. Miner's approach though says that maybe it works and maybe it does
> not -- at least according to what others have told me. To me, that is not
> totally valid either.
>
> However, if Miner is saying there are times where wave counts are not
> decipherable (as in during complex corrections) and you should not waste
> time trying to take s-t trading cues from them, I would agree. That said,
a
> complex correction may be bit of information one could use to come up with
> an options trading strategy.
>
> Steve
>
> ---
> Steven W. Poser, President
> Poser Global Market Strategies Inc.
> http://www.poserglobal.com
> swp@xxxxxxxxxxxxxxx
> Tel: 201-995-0845
> Fax: 201-995-0846
>
> -----Original Message-----
> From: Earl Adamy [mailto:eadamy@xxxxxxxxxx]
> Sent: Friday, November 17, 2000 9:54 AM
> To: realtraders@xxxxxxxxxxx
> Subject: Re: [RT] Elliott Wave
>
>
> 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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>
>
>
>
>
>
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>
>
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