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You are a very wise person.
I just cannot help myself. I like Hurst because of the preditictve
potential.
Hurst, of course, recommends against trying to buy bottoms and sell tops.
His approach is to take a more predictable piece of the action out of the
middle. It saves a lot of ware and tare on the account.
Thanks for another excellent post.
-----Original Message-----
From: Ira Tunik [mailto:irat@xxxxxxxxx]
Sent: Thursday, April 26, 2001 7:53 AM
To: realtraders@xxxxxxxxxxxxxxx
Subject: Re: [RT] COMP: Hurst envelopes
I don't anticipate the market. I don't try to buy bottoms or sell tops.
Hurst
is based upon replication of movement in time. If there is to be
replication,
then E is early. Hurst is not predictive unless you start using the offset
moving average extensions as noted in his book. I have found them, like
much of
Gann and Eliot, to be dependent upon individual interpretation. If price
stops
at a Gann line, it stopped it. If it doesn't then the next line should stop
it. In Eliot everyone is guessing as to which wave they are in. There are
those among us who have an uncanny sense of these and other systems and can
make
them work with a high degree of reliability. There are some that say they
use
these systems, but actually use their natural trading skills to be
profitable.
Every system has its proponents and its detractors. In the end it is the
party
that uses the system that determines whether it is successful or not. I am
neither a proponent nor a detractor of these systems. I have seen really
weird
systems work under the most difficult circumstances and some of the old
standbys
fail under the simplest of market conditions. It is up to the individual to
find the system that fits his/her trading style and then become familiar
enough
with it to have it operate consistently for him/her. the consistency should
be
profits, not losses. Ira
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