That it goes in waves cannot be denied, however my study of Elliot wave theory has shown that one can only put numbers or letters on in retrospect. Just as any "trading system" can be shown to work in back testing so Elliot can always be proved after the event.
Basically I have found that its always a fiddle, and if it doesn't fit the pattern expected then there is always a "get out" by saying "Oh its in an extended flat, or a truncation or just a sub wave" so that enables Elliot wavers always to justify their analysis, AFTERWARDS when it did something different.
MY latest Elliot failure was the NZDUSD at the beginning of this week, which was supposed to be at the top of wave 3 and in need of urgent and dramatic correction. SO I went short and watched it climb ever higher in an "Extension" where it busted my stop. Since busting me of course it has plunged in a classic ABC wave form laughing as it conforms to pattern.
SO its about timing, the whole thing, with long
stops (~which I cannot afford) one could not fail to make a fortune. (Ha HA)
However
Because I rate the judgement of one who has:
A) Avoided Buck Rogers thus long. And
B) Likes Pink Floyd
C) Is not embarrassed to have just one red eye which moves from side to side.
I will wait for some reviews of your system before purchasing. I already have 3 or 4 indicator based systems none of which work very well. None of which take the news into account.
Obviously Elliot drives the news to occur at the right time. However, overall its the socio-economic cycle which drives the markets and not the markets doing the driving. (Either that or its the Builderburger group, creating the necessary cycles).
Can you guarantee the timing in your system?
Cheers
You are only coming through in waves!
close -
10-15-2007, 09:05 AM
Just busy is all -
03-19-2008, 08:18 PM
I can not put my finger on it now -
03-21-2008, 03:29 PM
want some of what you're on -
03-27-2008, 09:08 AM
Linear Mode
