I've heard traders complain that Elliott doesn't work. I've been using it for the past couple of years and have had really good success with it. I normally sell after the fifth wave and after the second wave of the a wave. I buy when the a wave completes usually it will be three waves. I sell then again after the second wave of the C wave.
Tell me what books are good to learn elliott wave ?. Also what about the software which counts wave which ones is the best program?
Quote from commoditiestrdr: I've heard traders complain that Elliott doesn't work. I've been using it for the past couple of years and have had really good success with it. Awaiting your convincing, independently-monitored proof. Testimonials and Anecdotals have little meaning (as you are so quick to supply). I normally sell after the fifth wave and after the second wave of the a wave. I buy when the a wave completes usually it will be three waves. I sell then again after the second wave of the C wave. More jargon. The market does not move according to EW dictates. This is nothing but hocus-pocus So it boils down to "TRUST ME"
Fibs work and they are the basis of elliott wave, but there aren't many people that CAN EVER agree on the count so unless you are REALLY something special I doubt very seriously if you can make money with it.
What's your problem with Elliott wave....I've used it and did well with it. It's not the only thing I use and no you can't use just elliott you have to use other indicators in addition to it.
If you can manage to consistantly pick the start of a wave correctly, you might make money with fibs and elliot waves. however its impossible to do so but from hindsight. however, its perfectly possible you are having success with this method, good for you.
But Wave prediction is a very uncertain business. It is an art to which the subjective judgement of the chartists matters more than the objective, replicable verdict of the numbers. The record of this, as of most technical analysis, is at best mixed
Quote from commoditiestrdr: What's your problem with Elliott wave....I've used it and did well with it. It's not the only thing I use and no you can't use just elliott you have to use other indicators in addition to it. Stop ASSERTING it works. PROVE it. No one else really has. That is why these unproven claims are so annoying. And frankly, if it has outperformance capability, it can stand on its own 2 feet. HERE IS ONE WAY TO PROVE IT (both the following sites allow discretionary trading - futurestruth and strategyrunner do not): If trading a lot of different instruments: http://collective2.com/cgi-perl/session.mpl?session=1&displaypage=offer_start.sessionhtml OR If just trading indexes and $95 is too much: http://www.timertrac.com/Public/Timers.asp Get back to us after 4-6 months with your INDEPENDENTLY MONITORED results Otherwise, Get Lost