Hang in there pippin, there is more. Get some more popcorn.
If I make a trading decision upon MA (x) crossing MA (y) it is a system.
But when I make a decision upon wave 3 overshooting the top of wave 1, it isn't?
I just confirmed a wave 3 (or c) by breaking the top of 1 (or A) enter a trade, but that isn't a trading system because the book "Key to market behaviour" is not a trading book.
Okay, it is okay to have a difference of opinion.
I trade based upon EW. You do it different. Thats fine.
I hope you are succesfull and thank you for your insight.
But, when you make a trading decision upon a wave pattern, then you used EW as a trading system. Eventhough it is not.
You can also use indicators and MA in combination with EW patterns, high probability ones.
I use EW to trade, not to figure out where the market goes, there is no money in just figuring out where it goes, you need to place those trades.
Right, but you're basing those trades on where you think the market is going to go (i.e buy or sell) and that decision is based on a theory of market dynamics. You then use your own system to enter and exit the market in the direction that you anticipate it going. Whether that be based on a particular indicator or pattern is for you to decide. EW theory provides the framework for you to develop a system around, but it is not in and of itself a system.
you also should also read more than just Pretcher's basic book
after all its a only a " basic book " ......... it is not enough !
anyone serious about trading elliott waves should be more than willing to further his or her education by seeking out Pretchers more advanced materials ...... pretcher has Written 13 Books in all
Pretcher does not give Entries and Targets with his calls ......
( but command $199 month for his signal service )
I've read all of Prechter's books except View from the top, and Conquer the Crash (of which I just started reading), and the new one by Peter Kendall. I've also watched his DVD training courses (not worth the money) and have seen his DVD's on his theory of Socionomics (incredibly fascinating concepts). I have also read all of his research papers that I can find on the theories of Elliott Wave and Socionomics. I also read the articles on his socionomics website.
One thing I can say, there is no such thing as "advanced material." Elliott Wave is Elliott Wave, no matter how many books you've read. In my opinion, all you need in order to be successful with the Elliott Wave theory is to read the first 100 pages of the EWP: Key to market behavior. That's all you need (of course it's all great to read as it is all interesting and I think everybody should read and research as much as possible). There is nothing really new or advanced covered in any of the other books. It's just different explanations of the same concepts. When you read R.N. Elliott's papers, and Hamilton Bolton's papers, and A.J. Frost's papers, and Bob Prechter's papers, and Robert Miner's EW material, and Glenn Neely's material, and Constance Brown's material, you realize that Elliott Wave is a very simple concept: Two simple structures, and six basic patterns, and a list of rules and guidelines that dictate what can and what can't be and how markets usually behave. All of the different books and authors just have different ways of applying and explaining the material. The only three that I don't like are Robert Miner and Glenn Neely, and Constance Brown. Miner has a sloppy approach to EW, and Neely adds a bunch of junk that isn't necessary, and Brown is just a bad author and it's difficult to read her book.
Originally Posted by marketwavez2
that post is about elliott waves theory as you say
remeber im in here more than you are ......
and i write much much more in here than you do
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
so write what ever you want ....... or post your charts ...... its all good
This is sort of an irrelevant comment from you, isn't it? I think so... If you write much more than I do, say something relevant, please.
All of the different books and authors just have different ways of applying and explaining the material.
The only three that I don't like are Robert Miner and Glenn Neely, and Constance Brown.
Miner has a sloppy approach to EW, and Neely adds a bunch of junk that isn't necessary,
and Brown is just a bad author and it's difficult to read her book.
this has been my point all along for 2 years now
yes they all have different ways of explaining it !
and most importantly ,
Pretcher Frost did not create Elliott Waves
Pretcher and Frost added the WXYZ letter formation to the theory
Last edited by marketwavez2; 09-03-2009 at 11:09 PM.
Pretcher Frost did not create Elliott Waves
pretcher and Frost added the WXYZ letter formation to the theory
No that hasn't really been your point. All you've ever said is "Prechter has written many books, 13 in all." "You should read the advanced material." There is no advanced material.
If you read Elliott's "Natures Law," you'll see that he had originally described the complex corrections. Frost and Prechter just added the letters to help label the charts more clearly.
This comes from Natures Law:
"...A Minor correction would be composed of three waves down... A double sidewise correction would be composed of seven waves... A triple sidewise movement would have eleven waves sidewise... In other words, a sidewise correction to an uptrend always ends in a down wave, whether it is composed of one, three, seven or eleven waves. They are named as follows: three waves is a "single three," seven waves is a "double three" and eleven waves is a "triple three..."
That passage was Elliott describing complex corrections. So Frost and Prechter did not add the formation, they just added the letters as a way to label charts better. You should read Natures Law, it will explain it all for you.
All of the different books and authors just have different ways of applying and explaining the material. The only three that I don't like are Robert Miner and Glenn Neely, and Constance Brown. Miner has a sloppy approach to EW, and Neely adds a bunch of junk that isn't necessary, and Brown is just a bad author and it's difficult to read her book.
watch what you say about Robert Miner ......
because you insult Cmellons work with "Time analysis "
Cmellon uses and has studied Robert Miners work extensively and it is by no means " sloppy" as you say
This goes along with my point to pippin. Why do you suppose that EWI does not give price targets with their service? It might have something to do with the fact that Elliott Wave is not a trading system. All Elliott Wave is is a description of how markets work. So all EWI is doing with their service is to help subscribers pinpoint where the market is within the EW structure. It's up to the trader how to interpret that information and to make their trading decisions based on their own trading plan.
If you actually read his website, he will tell you exactly what you pay for. He says that all his service does is give a wave-count on where the market migh be headed.
because you insult Cmellons work with "Time analysis "
Cmellon uses and has studied Robert Miners work extensively and it is by no means " sloppy" as you say
I am not insulting Cmellons work. If you read what I wrote, you'll notice that I said Miner's application of ELLIOTT WAVE was sloppy. You actually have to read what I wrote though, and not put words in my mouth that I didn't say. When you read Miner's book you see that his application of EW is indeed sloppy. He openly admits that he doesn't follow the rules that dictate EW pattern formation. He goes on look. That's sloppy.
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Originally Posted by Ilovepippin 
If you write much more than I do, say something relevant, please.
