Why Does Anyone Use Elliot Wave Theory At All?

Discussion in 'Technical Analysis' started by JT47319, Jan 9, 2004.

  1. Does Anyone Use Elliot Wave Theory At All?
    No, not if you are sane.
    I follow Real Wave Theory - this is where other traders wave goodbye to their money as the result of your trading success. :D
     
    #31     Apr 5, 2009
  2. j2ee

    j2ee

    Isn't that simple pattern recognition is also a never can be proved theory?
     
    #32     Aug 28, 2012
  3. The three main takeaways from Elliott Wave that I think are sound are that the market is driven by mass psychology, the reaction to the news is more important than the news and the market can always go further in one direction than you think it can.


    Now, if you take those building blocks and build a trading system from them, I think you can do well.

    Other than that, I don't even think that basic Elliott ideas like the distinction between "impulse" and "corrective" waves is valid. There are just "waves".
     
    #33     Aug 28, 2012