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Rakesh,
All I can say is the standard entries in AGET
normally put too much money at risk IMO. As I progresses in their
trading and frankly with the help of another list RT member (who shall go
un-named) who was adament about not trading breakouts, only retracements did the
"wave 2" concept become a major part of my trading and the understanding of
why. I also hope this was also a good explanation for him as to why he was
doing what he was doing, in the first place. Sit down and draw the whole
structure (and substructure) that "should" occur and you will see
why "wave 2's" are a better entry. I have no idea why AGET has not
promoted this in their literature or seminars, other than a new user is not
ready to accept the "entire" sub structure concept and it is a big leap to get
them to understand the larger one. Let me say that this, it is not
just about EW, I believe both Fibs and Gann lines and "other things", in
the final analysis all are in essence really all the same thing, just viewed
from different perspectives. It takes work to see the
transparency.
Forget EW, but if the direction of the market has a
three wave structure it as corrective to the prior trend, if a clear five
wave consider it with the trend, start with that?
don ewers
<BLOCKQUOTE
style="BORDER-LEFT: #000000 2px solid; MARGIN-LEFT: 5px; MARGIN-RIGHT: 0px; PADDING-LEFT: 5px; PADDING-RIGHT: 0px">
----- Original Message -----
<DIV
style="BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: black">From:
Rakesh Sahgal
To: <A
href="mailto:realtraders@xxxxxxxxxxxxxxx";
title=realtraders@xxxxxxxxxxxxxxx>realtraders@xxxxxxxxxxxxxxx
Sent: Thursday, July 11, 2002 9:28
PM
Subject: Re: [RT] Re: forecasting-track
record
Hi Don,How would you go about identifying a wave 2 end
in AGET ? Have you done any work in this direction? Do the osciullator studies
etc help any or one has to be absolutely proficient in in EW to be able to
recognise wave 2 entry points?RakeshAt 01:59 PM 7/11/02
-0500, you wrote:
<FONT face=arial
size=2>Nick,There is some real true to
what you are saying. In one of the "early" AGET trading tapes I have,
Tom Joseph (AGET originator), drew the waves just as you described,
basically he ignored waves 1 and 2 and really analyzed it as a three wave
affair. This may be because the recommended trades at that time were,
Type 1 after a wave 4 was over and Type 2 after a wave 5 was over.
There is a reason though to pay
attention to wave 2's. From my experience, is that is the single best entry
point due to it's low risk and defineable stop. This is true for all
wave 2's, albeit it a minor wave 2 of wave 1, a regular wave 2, minor wave
2's of wave 3's and minor wave 2 of wave 5's. Basically trading the
pullback.don ewers
----- Original Message -----
From: Nick Ali
To: <A
href="mailto:realtraders@xxxxxxxxxxxxxxx";>realtraders@xxxxxxxxxxxxxxx
Sent: Thursday, July 11, 2002 12:23 PMSubject: Re:
[RT] Re: forecasting-track recordI have to say EW always seemed to
have too many if this then thats. I found it confusing so have never
really persued his techniques past basic theory. I recently read a
book by Tony Plumber (I think) and it all made loads more sense. In a
nutshell he pointed out that markets move in 3 wave cycles. If you join
together two 3 wave movements (in the same direction) you get the
'classic' 5 wave with the 1 of the second cycle of waves joining the 3 of
the first (its much much easier when drawn). It all becomes much easier
when you are using the smallest 'building block' to make up your patterns.
Cheers,Nick. To unsubscribe from
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Rakesh
Sahgal C
-165(1st Floor), Greater Kailash -
I, New
Delhi - 110
048 India. Tel.:
91-11-647-6462 eMail: r_sahgal@xxxxxxxxxx rsahgal@xxxxxxxxTo
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