If Wave and Gann Theories are just joke, why do we believe in other pattern?

Discussion in 'Technical Analysis' started by j2ee, Aug 28, 2012.

  1. The ebbchart primer public site has four pages in it and is free for anyone to look at. To be fair, the google adsense goes to the website owner, and not the ebb guy. Only subscribers see the ebbcharts and comments updated daily without the adsense. The ebb guy worked for years and collected data from his daily patterns. Without subscriber support, how else would he be able to discover the triple patterns? Continue to develop his ebbchart system? He chose to share his patterns to those willing to support the ebbchart development. I don't see anything wrong with that. That is a full time job right there.

    His eight patterns are closing in on 200 appearances each. That is a wealth of data.
     
    #71     Aug 30, 2012
  2. In short to answer the original question, Elliott Wave and Gann are just two theories. Point and Figure patterns (other than one box reversal) are .... easy to believe in. They are simple and clear. All the classical chart patterns were identified by Schabacker and Gartley, and newer ones have been found since.

    Believability comes from evidence. Evidence meaning the price model works most of the time. People that see the evidence tend to believe.

    --

    EWave isn't necessarily a joke, i'd call it a tool, a model.. that all too often is inflexible. Elliott himself studied the Industrial Average when forming his theory - Others have tried to apply the theory to commodities, currencies, etc. Stock market has long term up bias - but an exchange rate? All exchange rates?? Wheat prices? Where is the logic in that, inflation?

    Definitely as someone else mentioned - the Elliott concepts of motive and impulse and corrective are helpful - and i think sometimes can be objectively defined, although programs that allow for too many alternate interpretations aren't necessarily helpful. I've never tried Advanced GET
     
    #72     Aug 30, 2012
  3. j2ee

    j2ee

    ebbchart is a main products of that website, the website owner earning has high relationship with the ebbchart guy, or they are the same person.
     
    #73     Aug 30, 2012
  4. j2ee

    j2ee

    If he can make good money with his money, he doesn't need to sell live result like this at all and being a main product of a website which has adsense adv.
     
    #74     Aug 30, 2012
  5. The website has five premium services offered including the RevShark, a well known hedge fund manager. All of them have something to offer. The ebb guy does not offer TA advice but his triple patterns have the best timing results I have seen.
     
    #75     Aug 30, 2012
  6. The guy started collecting data from his patterns only six years ago and discovered the true potential of his triple patterns this year. He is beginning to reap the benefits of his hard work from his patterns. You wanna deny loyal subscribers the fruits of his labor? Don't you dare my friend. A triple pattern system like this only comes once in a lifetime.
     
    #76     Aug 30, 2012
  7. j2ee

    j2ee

    Your salesman tone is too obvious
     
    #77     Aug 30, 2012
  8. I am sure you heard this before - "you can show a horse where the water is but you can't force it to drink" Stick to the kool-aid everybody has been drinking then and watch the holy grail of market timing pass you by.
     
    #78     Aug 30, 2012
  9. I'd say the same thing about all the books you read about trading. If the guy/gal is really that good, why is he/she writing books and not trading?

    Trading books CAN be informative but they will NOT teach you a consistently profitable method. You need to do that yourself. Get your hands dirty. Put in the screen time. Stop using books as your crutch.

     
    #79     Aug 30, 2012
  10. j2ee

    j2ee

    Some successful just want to leave a mark in history after they have enough money for freedom.
     
    #80     Aug 30, 2012