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Rakesh,
An article published in stocks and commodoties magazine dealt with
this exactly. And if you do not know ewave thats ok It shows you
exactly how to do it .....It was an october issue.
Look up the name jaenisch at traders.com or just use this link
http://store.yahoo.com/traderscom/-v14-c10-theandr-pdf.html
Regards
R
--- In realtraders@xxxx, "Don Ewers" <dbewers@xxxx> wrote:
> 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
> ----- Original Message -----
> From: Rakesh Sahgal
> To: realtraders@xxxx
> 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?
>
>
> Rakesh
>
> At 01:59 PM 7/11/02 -0500, you wrote:
>
> 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: realtraders@xxxx
> Sent: Thursday, July 11, 2002 12:23 PM
> Subject: Re: [RT] Re: forecasting-track record
>
> I 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.
>
>
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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@xxxx
>
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