go a few years back in this thread there was a guy mup that used it profitably http://www.elitetrader.com/vb/showt...01387&perpage=20&highlight=mup&pagenumber=353
Any graph is profitable when it already happened and then you draw stuff on it and say profitable from it.
Anyway this is like believing your own god, you see someone online doing that, some books talk about it, then this online guy sometimes is correct(may be? You said it is then it is...I don't even check and care). I know the Elliott wave pretty well and isn't that around 1/3 then 1/2 then 3/4 then keep going on and on...either drop or raise, then pretty hard to be incorrect all the time right? You believe it then keep going on, I just point out that there is no prove at all, well we cannot prove god exist too, so it depends on your faith.
What a profound statement. Who would have guessed? And I was almost ready to believe Elliot Wave was the Holy Grail. Your important message may have saved my Trading Soul.... :eek:
I used to believe in Elliott Wave theory a lot, but after I trade with real money and learn the real meaning of "objective" and "subjective", then I understand very likely Elliott Wave theory is one of the best marketing effects in financial history.
whatever works for you, worked for mup too often to discount,don't know EW so i see what mu puts up and am grateful for all his generous work
I use it all the time on a discretionary basis. It's hard to quantify discretionary methodz, but you can look at the real $ equity curve & stats (assuming the trader is disciplined and does not contaminate the results with random guesses). Admittedly, this is only piking on my part, but I think it shows that EW will not prevent a trader from coming out ahead. Disclaimer: I do not subscribe to the largest, most heavily advertised Elliot Wave service that you may be thinking of, but I did at one time (it actually helped me understand wave compounding, but their trade advisories were always wrong) :eek:
Because there is no way to prove if it works or not, the only way would be feeling it through trading/trading result.
full steam ahead 03-08-13 09:56 PM ........................ 09-15-12 05:46 PM Quote from elovemer: sure looks like big wave 3 underway on all indices look out above all time highs should be a great chance to get long again long term naz.... can see the wave 3 very clearly