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<DIV><FONT color=#000000>Jim Bain wrote:</FONT></DIV>
<DIV><FONT color=#000000></FONT> </DIV>
<DIV><FONT color=#000000>Do any Realtraders have any experience with
WinWave32? They make some<BR>interesting claims.<BR></FONT> </DIV>
<DIV><FONT color=#000000>Unfotunately, I don't have any experience with Win
Waves 32-that is I don't have any answers-but I would like to ask some
more questions about tha same topic.</FONT></DIV>
<DIV><FONT color=#000000></FONT> </DIV>
<DIV>I do have "Advanced GET"end of day ver.7.00,and it does a great
job of creating Elliott </DIV>
<DIV>wave counts-however I have noticed that even Advanced GET does not rely
totally on</DIV>
<DIV>the Elliott Wave for generating trading signals-I have noticed that many
Real traders also do not rely exclusively on Elliott wave counts,using other
programs like Dynamic Trader along with Elliott wave counts-Also,even
"Connie Brown"of "Aerodynamic Trading"says that she uses
1.Momentum analysis to trade on the right side of the market.2. Gann support and
Resistance Techniques and lastly 3.Elliott wave,all in the order listed to
arrive at a trading decision.Again,Bill Williams ,author of "Trading with
Chaos"says in his home study course that the first step in his analysis is
Momentum anlaysis to decide whether to be long or short.Again "Alan
Sears"uses Elliott Wave-TA 98- along with Time price Symmetrics,and Dynamic
Traders software,Jeffrey Harteam uses Elliott Wave analysis along with Nature's
pulse,Stig Olausson uses Elliott wave along with a lot of other
techniques,including Dynamic Trader"software,Robert Miner says that a
definite Elliott wave count can only be used only 50% of the time for trading
purposes and his software contains a lot of other techniques for timing the
market,James Skip Semmons uses Win waves32 for Elliott wave analysis along with
what other techniques?,Joe Duffy uses Elliott wave along with his own Turning
point analysis.John Dundee and Donald Thompson use Elliott wave along with what
other techniques?</DIV>
<DIV> </DIV>
<DIV><FONT color=#000000 size=2> <FONT
color=#000000 size=3>Anyway.the point that I am trying to make is that almost
all of the above mentione d people do not use Elliott Wave as a stand alone
technique,almost all of them use </FONT></FONT></DIV>
<DIV><FONT color=#000000 size=2><FONT color=#000000 size=3>a combination of
different techniques for timing the market,analysing the market
</FONT></FONT></DIV>
<DIV><FONT color=#000000 size=2><FONT color=#000000 size=3>momentum
etc.</FONT></FONT></DIV>
<DIV><FONT color=#000000 size=2><FONT color=#000000
size=3> What I would like to ask all
the esteemed Real Traders entioned above who</FONT></FONT></DIV>
<DIV><FONT color=#000000 size=2><FONT color=#000000 size=3>use Elliott Wave
analysis,and any other esteemed Ellioititians in the Real Traders group
</FONT></FONT>whom I have not mentioned-as I am a new member of the real traders
group and am not yet familiar with all the members posting their comments on the
Real traders forum(my apologies to you) is</DIV>
<DIV>!)How much importance do you place on the Elliott Wave theory in your
trading?</DIV>
<DIV><FONT color=#000000 size=2>2)<FONT size=3>Do you use charting software for
generating Elliott Wave counts or do you create your</FONT></FONT></DIV>
<DIV><FONT color=#000000 size=2><FONT size=3></FONT></FONT>own
counts </DIV>
<DIV><FONT color=#000000 size=2>3)<FONT size=3>Which charting software do you
use-Advanced GET,Win Waves 32,or TA98 or EL wave?</FONT></FONT></DIV>
<DIV><FONT color=#000000 size=2>4)<FONT size=3>Do different softwares generate
different Elliott wave counts and </FONT></FONT></DIV>
<DIV><FONT color=#000000 size=2>5)<FONT size=3>How do you use Elliott wave
counts in your trading-e.g.do you wait for a wave 3 to</FONT></FONT></DIV>
<DIV><FONT color=#000000 size=2><FONT size=3></FONT></FONT>be confirmaed,or do
you buy on wave 2 pullback,do you use different time frames </DIV>
<DIV>for better analysis of the market,do you reade impulse waves only,and any
other </DIV>
<DIV>comments regarding the Elliott Wave that you esteemed Elliotiitians may
have</DIV>
<DIV><FONT color=#000000 size=2><FONT size=3></FONT></FONT> </DIV>
<DIV>Regards to all</DIV>
<DIV> </DIV>
<DIV>Sanjay</DIV>
<DIV><clayidus@xxxxxxxxxxxxxxxx></DIV></DIV></BODY></HTML>
</x-html>From ???@??? Sun May 10 13:36:33 1998
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Date: Sun, 10 May 1998 19:42:14 +0100
Reply-To: t-bondtrader@xxxxxxxxxxxxx
Sender: owner-realtraders@xxxxxxxxxxxxxx
From: "Bill Eykyn" <t-bondtrader@xxxxxxxxxxxxx>
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Subject: Re:GEN Re:Trading Systems/Elliott Wave/WinWave
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"RealTraders Discussion Group" <realtraders@xxxxxxxxxxxxxx>
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Here's a thought which might save Sanjay (and others!) a lot of anguish in
their search for an Elliot-based computer program which can forecast price
movement - even if I risk a mass of critical e-mail:
As I see it...
The time spent searching for and the considerable expense involved in buying
Elliot Wave software of any sort will, at best, be fruitless in the long run
and, at worst disaster in the short run.
The reason being that, although R.N. Elliot made incredible deductions about
market swings being a reflection of human behaviour (as a part of nature's
law) and can be measured using the Fibonacci summation series (also a part
of nature's law), what his wave principle cannot do is to forecast price
movement.
The reason his wave principle cannot forecast prive movement is because wave
counting, itself, is a wholly subjective affair. Since the reason why
people want a software based on Elliot is to forecast the market, it has,
therefore, to end in tears - both emotionally and fincancially!
If you daytrade, you have to learn to read the tape, if you position trade
you have to learn how to follow the foot-prints of big boys. Computer
programs based on either or both of these tenets are what is required and,
even then, their successful application - particlularly of the latter -
will no doubt largely depend on the size of drawdown/margin required.
Elliot may have had tremendous insights on how markets work, but the
concepts he developed did not, nor when you consiser it carefully, could
not, forecast price movement. And that's a fact! They may do a mass of
other very useful things, but EW does not forecast price movement.
Bill Eykyn
PS. Can't think what makes me think of it: but could anyone tell me
where I can get a Fibonacci Logarithimic Spiral tool that will work on
SuperCharts RT. Now that would be good to get!
-----Original Message-----
From: Sanjay P.Lulla <clayidus@xxxxxxxxxxxxxxxx>
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Date: Sunday, May 10, 1998 11:22 am
Subject: Re:GEN Re:Trading Systems/Elliott Wave/WinWave
Jim Bain wrote:
Do any Realtraders have any experience with WinWave32? They make some
interesting claims.
Unfotunately, I don't have any experience with Win Waves 32-that is I don't
have any answers-but I would like to ask some more questions about tha same
topic.
I do have "Advanced GET"end of day ver.7.00,and it does a great job of
creating Elliott
wave counts-however I have noticed that even Advanced GET does not rely
totally on
the Elliott Wave for generating trading signals-I have noticed that many
Real traders also do not rely exclusively on Elliott wave counts,using other
programs like Dynamic Trader along with Elliott wave counts-Also,even
"Connie Brown"of "Aerodynamic Trading"says that she uses 1.Momentum analysis
to trade on the right side of the market.2. Gann support and Resistance
Techniques and lastly 3.Elliott wave,all in the order listed to arrive at a
trading decision.Again,Bill Williams ,author of "Trading with Chaos"says in
his home study course that the first step in his analysis is Momentum
anlaysis to decide whether to be long or short.Again "Alan Sears"uses
Elliott Wave-TA 98- along with Time price Symmetrics,and Dynamic Traders
software,Jeffrey Harteam uses Elliott Wave analysis along with Nature's
pulse,Stig Olausson uses Elliott wave along with a lot of other
techniques,including Dynamic Trader"software,Robert Miner says that a
definite Elliott wave count can only be used only 50% of the time for
trading purposes and his software contains a lot of other techniques for
timing the market,James Skip Semmons uses Win waves32 for Elliott wave
analysis along with what other techniques?,Joe Duffy uses Elliott wave along
with his own Turning point analysis.John Dundee and Donald Thompson use
Elliott wave along with what other techniques?
Anyway.the point that I am trying to make is that almost all of the
above mentione d people do not use Elliott Wave as a stand alone
technique,almost all of them use
a combination of different techniques for timing the market,analysing the
market
momentum etc.
What I would like to ask all the esteemed Real Traders entioned
above who
use Elliott Wave analysis,and any other esteemed Ellioititians in the Real
Traders group whom I have not mentioned-as I am a new member of the real
traders group and am not yet familiar with all the members posting their
comments on the Real traders forum(my apologies to you) is
!)How much importance do you place on the Elliott Wave theory in your
trading?
2)Do you use charting software for generating Elliott Wave counts or do you
create your
own counts
3)Which charting software do you use-Advanced GET,Win Waves 32,or TA98 or EL
wave?
4)Do different softwares generate different Elliott wave counts and
5)How do you use Elliott wave counts in your trading-e.g.do you wait for a
wave 3 to
be confirmaed,or do you buy on wave 2 pullback,do you use different time
frames
for better analysis of the market,do you reade impulse waves only,and any
other
comments regarding the Elliott Wave that you esteemed Elliotiitians may have
Regards to all
Sanjay
<clayidus@xxxxxxxxxxxxxxxx>
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