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Thank you all for your comments regarding Elliott waves. After
attending an (expensive) Options class, one of the senior partners
teaching the class pointed out that he used Elliott waves - 4th and
5th waves for predicting major moves and that he has been successful
at a +70% level.. which is pretty high. I do plan to get the
Metastock add-in as a first step sometime in January.
Wallace, thanks for the site reference and for reference to Tom
Joseph's notes. I will certainly read it. If anyone has any other
advice or personal experiences, pls go ahead and offer it. The nice
thing about trading or this chat group is although we don't agree on
everything, we discuss it with a pretty decent sense of decorum - and
there are certainly different paths to get to the same goal - making
money trading.
--- In equismetastock@xxxxxxxxxxxxxxx, "mikesimmonsuk"
<mjsimmons@xxxx> wrote:
>
>
> 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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