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j2ee

Registered: Aug 2012
Posts: 368

10-18-12 10:20 AM

Can we believe in Elliott Wave? Would it be just a marketing tool that is used by Elliott then keep using it by others for their own marketing purposes for that many decades?

Since it is so hard to backtest Elliott Wave theory, anyone has any idea how to prove it works or does not work?

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marketsurfer

Registered: Apr 2002
Posts: 5430

10-18-12 01:19 PM

Quote from j2ee:

Can we believe in Elliott Wave? Would it be just a marketing tool that is used by Elliott then keep using it by others for their own marketing purposes for that many decades?

Since it is so hard to backtest Elliott Wave theory, anyone has any idea how to prove it works or does not work?

Most if not all TA is a marketing tool.

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JuniorCTA

Registered: Jul 2010
Posts: 335

10-18-12 02:32 PM

Quote from marketsurfer:

Most if not all TA is a marketing tool.

says the marketer

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marketsurfer

Registered: Apr 2002
Posts: 5430

10-18-12 02:43 PM

Quote from JuniorCTA:

says the marketer

Is anything more obvious?

We understand such things. Just ask the FX dealers who offer free TA courses, software etc. who profit when the trader loses. Think they would push an edge producing tool?

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JuniorCTA

Registered: Jul 2010
Posts: 335

10-18-12 03:19 PM

Quote from marketsurfer:

Is anything more obvious?

We understand such things. Just ask the FX dealers who offer free TA courses, software etc. who profit when the trader loses. Think they would push an edge producing tool?

Are you implying that all the "TA" that exists has been discovered? That there is no unique way to interpret "TA" that can give you an edge? I can prove objective TA to you; but then what?

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marketsurfer

Registered: Apr 2002
Posts: 5430

10-18-12 03:29 PM

Quote from JuniorCTA:

Are you implying that all the "TA" that exists has been discovered? That there is no unique way to interpret "TA" that can give you an edge? I can prove objective TA to you; but then what?

There might be. Heck, uri geller still bends silver spoons. But based on my research, association with some of the top ranked funds of all time, experience and that of my colleagues, I can safely say trend hasn't even been defined, let alone a method to predict the future price moves based on past moves. Last guy that claimed to have an objective TA rarely lose system, threaten to sue me if I questioned him. So, no, I don't believe you.

Surf

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