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I am sorry superfragalist but you are very wrong.
In the UK, USA and Australia many analysts are using Elliott Waves
very successfully.
I have been using Dynamic Trader for several years and have produced
some astonishing results using the Elliott Wave theory.
The Elliott Wave indicator in the Investors Dream software is also
excellent in pre-empting trend changes.
I agree that if you follow any system mechanically and blindly you
will fail - however, if you are disciplined and take the time to
understand the basics and interpret the signals produced using the
Ellott Wave you can be very successful.
In the UK, Elliott Wave theory is used by many major financial
institutions as one of the tools in their technical analysis armoury.
You obviously have some very strong beliefs about the Elliott Wave
approach which you do not accept as being viable.
What would be interesting to hear from you is a list of the technical
indicators that you have found work successfully, and from which
produce financial rewards year in and year out.
I am certain that all members of this group would also like to hear
from you about this, and would appreciate your help in pointing them
in the right direction.
Regards
Mike Simmons
PS: The interesting thing is that the most successful systems are
often those which have been written by and for Professional Traders
often based on there many years trading experience, and are systems
they still use today.
Those systems written by software technicians without trading
experience are often those which fall short over a period of time.
--- In equismetastock@xxxxxxxxxxxxxxx, superfragalist <no_reply@xxxx>
wrote:
>
>
> Elliot Waves--plug-in--okay. I haven't used the plug-in, but here's
> my experience with waves of all kinds. They don't work. You're
> wasting your time. There has never been a study published yet that
> shows that Elliot waves produce anythng but mediocre returns.
>
> For the those who love waves, instead of bad mouthing what I'm
> saying, produce a study from one major systems developer whose work
> is published, that says that E waves or Gann or Murry Math or
> whatever gets the job done. Just one real, unbiased study from
> someone who actually develops systems for a living.
>
> You will spend countless amounts of money and time even trying to
pin
> down what an Elliot wave system is. When you get poor results,
you'll
> be told you just don't understand how the system works. Well,
that's
> your first clue. If you can't understand it in ten minutes or less
> you shouldn't be using it.
>
> The big banks have spent multi-millions looking at every trading
> system you can think of including waves, AI, all kinds of
statistical
> models, etc. You don't see any of them using anything close to E
> Waves. On almost all trading screens you'll find MA's, not E waves.
>
> However, all Equis plug-ins come with a 30 day, no questions asked,
> money back guarantee. They honor it everytime. So you have nothing
to
> lose except your time.
>
>
>
>
>
>
> --- In equismetastock@xxxxxxxxxxxxxxx, "rvalue1" <rvalue1@xxxx>
wrote:
> >
> >
> > There was only one e-mail posted on this subject and I appreciate
> the
> > input. Could anyone else using Aphomega Ellioo waves comment on
its
> > usefulness as a metastock plug-in? Really could use the feedback
> from
> > this forum. Appreciate your time to send me your thoughts. Also
> > interested in buying used copy from someone who might have tired
of
> > it or found it not so good. Looking for version 5.0 for Metastock
> > 8.01. Thanks for your input..
> > --- In equismetastock@xxxxxxxxxxxxxxx, "rvalue1" <rvalue1@xxxx>
> wrote:
> > >
> > >
> > > I checked out older archives on Elliott waves plug-in and
looked
> up
> > > Aphomega site as they have the only Metastock certified
software
> > for
> > > Elliott waves for metastock. Can someone who purchased it tell
me
> > if
> > > they like what they see and how accurate it might be for higher
> > > volumes and index trades? I heard that advanced GET was pretty
> > darned
> > > good with its Elliott waves and PTI/ prediction for the 5th
wave
> vs
> > a
> > > double top.. I am not too keen to spend $2.5K on advanced GET
as
> > of
> > > yet..
> > > Also would like to know if it has an exploration to look for
good
> > > correlated stocks that have decent volumes that are ready for
the
> > 5th
> > > wave..
> > >
> > > Would appreciate some serious feedback..
> > >
> > > Rvalue1
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