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Your exactly right Clyde :-) And you've discovered what markets
Are all about. A minimum of rules and a maximum of chaos. We all
Want precision and certainty in life and in trading but it will never
Happen. Its just the way markets are. All we know is that over time
They will fluctuate up and down to varying degree's. The one saving
Grace is that it happens more often than statistically should so we
Can profit from trend. There are a 1000 ways to define and get on and
Off trends. Each person simply spends years finding what works for
them.
Neely's work though is far more rigorous than the basic Elliott theory
And has many concrete guidelines that are a 1000x for helpful than
Anything in other Elliott books. But I agree with you, it would be an
Incredibly complex thing to code, and really little point.
Adrian
> -----Original Message-----
> From: Clyde Lee [mailto:clydelee@xxxxxxxxxx]
> Sent: Thursday, 18 July 2002 7:15 AM
> To: realtraders@xxxxxxxxxxxxxxx
> Subject: Re: [RT] Why Fibonacci Numbers work and Number
> crunching - change directions
>
>
> I do not have to run to the book store at all!
>
> His definition is as ambiguous as you can possibly get.
> If it were not so then long ago I might have accepted what
> he is trying to but not able to say.
>
> Clyde
>
> - - - - - - - - - - - - - - - - - - - - - - - - - - - -
> Clyde Lee Chairman/CEO (Home of SwingMachine)
> SYTECH Corporation email: clydelee@xxxxxxxxxxxx
> 7910 Westglen, Suite 105 Office: (713) 783-9540
> Houston, TX 77063 Fax: (713) 783-1092
> Details at: www.theswingmachine.com
> - - - - - - - - - - - - - - - - - - - - - - - - - - - -
>
> ----- Original Message -----
> From: "Adrian Pitt" <apitt@xxxxxxxxxxxxx>
> To: <realtraders@xxxxxxxxxxxxxxx>
> Sent: Wednesday, July 17, 2002 4:03 PM
> Subject: RE: [RT] Why Fibonacci Numbers work and Number
> crunching - change directions
>
>
> > Clyde,
> >
> > I have the definitive answer for you if you truly wish to discover
> > which Pivots to use. Here's your answer:
> >
> > ALWAYS USE THE PATTERN TERMINATION POINT.
> >
> > How do we find the pattern termination point?
> >
> > BUY GLEN NEELY's "MASTERING ELLIOTT WAVE" and spend a few years
> > practising And codifying what you can. Of course I doubt anyone on
> > the planet could do
> > It successfully, but people love challenges.
> >
> > Adrian
> >
> > > -----Original Message-----
> > > From: Clyde Lee [mailto:clydelee@xxxxxxxxxx]
> > > Sent: Thursday, 18 July 2002 1:58 AM
> > > To: realtraders@xxxxxxxxxxxxxxx
> > > Subject: [RT] Why Fibonacci Numbers work and Number crunching
> > > - change directions
> > >
> > >
> > > Understand, this is not about FIBS, this is about PIVOTS.
> > >
> > > You have contended over and over that because the pivots that are
> > > picked by a stringent mathematical definition do not fit what you
> > > see as pivots that the study is faulty.
> > >
> > > You (and I guess most of the readers on this and several other
> > > lists) know that I am dedicated to the pivot determination METHOD
> > > that I have developed. I am not tied to any particular
> length for
> > > the pivot but at the present time when an analysis is
> done then the
> > > number of bars used to evaluate when a pivot occurs is fixed. It
> > > may be that that condition needs to be tied some way to market
> > > activity, I just do not know.
> > >
> > > What I want you to do is define for me the
> characteristics that you
> > > use in defining what constitutes a pivot that you would use.
> > >
> > > I don't care how complicated or simple these characteristics are,
> > > whatever they are I would like to program them in a pivot finding
> > > algorithm that could be of value to the entire trading community.
> > >
> > > In attempting something of this order I can assure you that the
> > > initial statement of the method will not contain all the elements
> > > that you use and that it will take a number of iterations
> to achieve
> > > the equivalent of what you establish for pivots by looking at a
> > > chart.
> > >
> > > On all of these studies that we have disagreed over you
> have had the
> > > benefit of hindsight in selecting the pivots that you
> thought were
> > > appropriate for measurement where the evaluation covered
> more than
> > > one pivot.
> > >
> > > My pivot selection method has NO insight into what may happen
> > > forward of the day/bar on which an evaluation is performed and
> > > consequently cannot identify a pivot until some period of time
> > > (variable) following the actual event that is the pivot.
> > >
> > > We all know that we must have some information forward
> > > of the pivot to be able to identify that pivot. I know that is a
> > > matter of fact and accept the "lag" inherent in the
> determination of
> > > pivots.
> > >
> > > I'm willing to put whatever time is needed into such a
> project since
> > > I think it will give me and many others a better understanding of
> > > why a "simple" method of picking pivots is invalid.
> > >
> > > Clyde
> > >
> > > - - - - - - - - - - - - - - - - - - - - - - - - - - - -
> > > Clyde Lee Chairman/CEO (Home of SwingMachine)
> > > SYTECH Corporation email: clydelee@xxxxxxxxxxxx
> > > 7910 Westglen, Suite 105 Office: (713) 783-9540
> > > Houston, TX 77063 Fax: (713) 783-1092
> > > Details at: www.theswingmachine.com
> > > - - - - - - - - - - - - - - - - - - - - - - - - - - - -
> > >
> > > ----- Original Message -----
> > > From: "Don Ewers" <dbewers@xxxxxxxxxxxxx>
> > > To: <realtraders@xxxxxxxxxxxxxxx>
> > > Sent: Wednesday, July 17, 2002 9:54 AM
> > > Subject: Re: [RT] Why Fibonacci Numbers work and Number crunching
> > > doesn't
> > >
> > >
> > > > Clyde,
> > > > Yes your use of a 21-bar, has mirrored the pivots off the top I
> > > > that
> > > showed
> > > > in my gif, however in looking at your pivot selection going
> > > backwards
> > > > from there some questions arrise that I believe causes your
> > > "study" of
> > > > fib's in this case, to be flawed.
> > >
> > >
> > >
> > >
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> >
> >
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