Elliot Waves

[view_view]

Are there any Elliot waves trader here? I have gotten interested in it lately after reading about it and getting curious how it works any different then anything else out there. After my initial study it seems like its more like a pattern recognization then anything else. If any of you has been following Elliot waves theory in his trading and or can comment on is it realy fruitful to do further study on this one?


Thanks

 

[stock_trad3r]

Elliot waves are way overrated. They aren't reliable for predicting the market because they can be interptreted in too many different ways.

 

[otcstockfund]

i use elliot wave for intraday trading

 

[Riskmanager]

Quote from view_view:

Are there any Elliot waves trader here? I have gotten interested in it lately after reading about it and getting curious how it works any different then anything else out there. After my initial study it seems like its more like a pattern recognization then anything else. If any of you has been following Elliot waves theory in his trading and or can comment on is it realy fruitful to do further study on this one?


Thanks

The Nasdaq 100 is the market to trade on an intraday/swing time frame according to Elliott Wave theory.

I know a trader who's making major $'s this way, together with sound risk management (one trade a day).

If you're interested in this, skip all the esoteric stuff about the waves and rather get a license for the ElWave software.

 

[dtrader98]

pretty much a waste of time IMHO. Just memorize the basic pattern if your interested. Add it to your arsenal, like descending triangle, flag, etc...

No sense in studying entire books on it, as it is ultimately subjective. Should be a chapter in a larger TA patterns book.

 

[view_view]

Quote from otcstockfund:

i use elliot wave for intraday trading

So how does it help u? Any overview of the things which u loook for or suggestions as a begiiner?

 

[otcstockfund]

helps me to decide where to piece out my sells, so lets say i'm in something thats on its second leg up and its strong i'll sell half when it gets toppy and the rest if the next leg is weak

 

[Landis82]

Here is a bit of a roadmap, but it is subject to "interpretation" and certainly not cut in stone . . .

 

[bh_prop]

Landis:

I think many were hoping for that C down to materialize today after 7 upcloses in 9 trading days. Suffice to say today's action caught most offguard

 

[stonedinvestor]

I've noticed that I do hold stocks to a higher standard when I become aware of a fifth wave up.
Also in timing interday moves on the market I've noticed often big down days have 4 waves before it's safe to place a bet. Not sure if Elliot would approve...