Elliot Wave Theory

[ph1l]

Predictions from a prominent Elliottician made in 1988:
https://www.neowave.com/downloads/articles/StockMktForecastto2060byGlennNeely.pdf

This means the U.S. market, right after the
turn of this century, should begin to advance again. This
advance should last for decades, creating the biggest bull
market of all time (see Figure 6). The minimum expectation
for an Extended wave is 161.8% of the previous Impulse
vvave of the same degree. Measuring the length of
SuperCycle wave (I), calculating the above ratio, and
adding the product to the end of SuperCycle wave (II)
(1949) produces the incredible, minimum target of (you’d
better sit down) over 100,000 basis the Dow. By applying
time techniques to the Wave structure, that price level
should not be achieved any earlier than the year 2020, and
no later than 2060!

After the year 2000, the world should begin moving into the
most optimistic period ever experienced.

I guess there is no need to subscribe to his service since you now know the exact future.

 

[maxinger]

Are you going to sit there and say the person who made this chart doesn't know what they are doing?

one of my trading coaches (a hopeless unsuccessful trader)
did something similar to this.
He drew thousands of indicators until we could hardly
see the candlesticks.
He drew all sort of lines, fans, circles, triangles, rectangles,
waves, eggs, fans, zig zag lines, radiant lines, up down left right arrows etc etc etc


He has disappeared from the face of this earth.

 

[Overnight]

Are you going to sit there and say the person who made this chart doesn't know what they are doing?

Must be a pilot. He's about 20% of the way to imitating a sectional chart.

 

[maxinger]

Must be a pilot. He's about 20% of the way to imitating a sectional chart.

a trader who was a former pilot would probably draw lots of circles on the trading chart.
And he would add airport runway too ( parallel trend lines / channel )

 

[userque]

What do you guys think about Elliot Wave? Does it work?

I don't think about them.

Since some people can successfully trade using random entries; I'm sure some people can successfully trade using EW's.

___________________
"One who can't dance, says the music is bad."

 

[SimpleMeLike]

EW is worthless:
there are 7 rooms with EW in their name and 1 more that "trades" EW:
24elliottwaves.com
elliottwave.com
elliottwavegold.com
elliottwavetrader.net
elliottwave-forecast.com
ewotrader.com
thewavetrading.com

None trade live, in fact no trades at all and none have a track record of performance.
Grade F

Hello Dazz,

I am confused.

I have one question only!

Perhaps, I just do not understand something and hopefully you can explain to me.

Why does a traderoom exist and charge traders money, if the owner of the trade room does not trade real money and show actual results?

I mean I really really really do not understand this. If I am a profitable trader, and I host a trade room, I am showing my customers my a screen shot of my daily broker account.

 

[SunTrader]

Wave counts (and Fibs) were working even before old man Elliott let the trading world know about them lol:

 

[Turveyd]

Hello Dazz,

I am confused.

I have one question only!

Perhaps, I just do not understand something and hopefully you can explain to me.

Why does a traderoom exist and charge traders money, if the owner of the trade room does not trade real money and show actual results?

I mean I really really really do not understand this. If I am a profitable trader, and I host a trade room, I am showing my customers my a screen shot of my daily broker account.

Yes you'll show the profitable days and hype them up, which means 4 days per week you'll not bother to post the trades or photoshop ofcourse.

 

[ET180]

Hello Dazz,

I am confused.

I have one question only!

Perhaps, I just do not understand something and hopefully you can explain to me.

Why does a traderoom exist and charge traders money, if the owner of the trade room does not trade real money and show actual results?

I mean I really really really do not understand this. If I am a profitable trader, and I host a trade room, I am showing my customers my a screen shot of my daily broker account.

I have often wondered this as well. One reason could be that they simply do not have enough capital and want to boost their capital through subscriptions in order to get going faster. Another reason might be because they are very risk-averse and don't actually want to risk the capital required to get their desired returns. Some might have enough money and really want the challenge of helping others become successful. That could be fulfilling. But would they spend so much time doing that? Every day for several hours? If they really wanted to help, they could simply post free youtube videos and not have to sit behind the computer all day. More likely, if the guy has been around trading for a while, I wonder, why can't they simply make enough money from applying their strategy. Kinda reminds me of those radio ads telling people to call now and hurry up because appointments are filling up fast. Well, if that was true, why would they be paying for advertising?

 

[Dazz]

Hello Dazz,

I am confused.

I have one question only!

Perhaps, I just do not understand something and hopefully you can explain to me.

Why does a traderoom exist and charge traders money, if the owner of the trade room does not trade real money and show actual results?

I mean I really really really do not understand this. If I am a profitable trader, and I host a trade room, I am showing my customers my a screen shot of my daily broker account.

I know of no room that can unequivocally show they trade liver $$$ in real time; rooms that show trades in real time trade sim $$$.