Elliott wave does work

JaiSreeram · Aug 2, 2008

Quote from benleeph:

that book is a good start for elliot wave trader wannabe. i recommend that you combine with fibonacci too.

Thanks, benleeph for the recommendation. Do you mean to apply the fibbonacci formula for the Elliot wave?

Quote from TraderZones:

that way, you can be assured of losses

TraderZones, please explain the above. Thanks.

tiger_6 · Aug 9, 2008

It works, yet it not always immediately evident. Everything needs to be confirmed, and The corrective waves, are hard to forecast and always need to be confirmed.

TraderZones · Aug 9, 2008

Quote from JaiSreeram:

TraderZones, please explain the above. Thanks.

Both Elliot Wave and Fibonacci show little value under testing.

They are both essentially myths, but held by many, in spite of the evidence.

Learn to trade. And stop believing in fairies.

Derrick1983 · Aug 13, 2008

Do tell more of Elliot wave. It is Technical Analysis method (TA). It seems that TA working is like testing a software system before giving it to client.

Why people against TA, against Elliot wave?

JaiSreeram · Aug 14, 2008

Thanks to you all for the responses. I shall consider the same before going ahead with them,

JaiSreeram · Dec 1, 2008

Quote from Derrick1983:

Do tell more of Elliot wave. It is Technical Analysis method (TA). It seems that TA working is like testing a software system before giving it to client.

Why people against TA, against Elliot wave?

People might be against this as it is not easy to understand and follow, just like many students do not like math & science at school (maybe the same here). It requires a lot of study and you need to be clear on how you apply these principles. Another problem with Elliott wave is it is somewhat subjective, even though there exists programs which claim to count Elliot wave automatically.

defemz · Dec 1, 2008

If you ask me i really dont believe in EW. Too subjective and impossibly difficult for my liking

marketsurfer · Dec 1, 2008

Quote from JaiSreeram:

Tell me what books are good to learn elliott wave ?. Also what about the software which counts wave which ones is the best program?

there is only one elliott book worthwhile to read"

http://www.amazon.com/Mastering-Elliot-Wave-Presenting-Forecasting/dp/0930233441

fluttrader · Dec 1, 2008

Quote from marketsurfer:

there is only one elliott book worthwhile to read"

http://www.amazon.com/Mastering-Elliot-Wave-Presenting-Forecasting/dp/0930233441

Any website of the author ?

da-net · Dec 1, 2008

Quote from TraderZones:

Both Elliot Wave and Fibonacci show little value under testing.

They are both essentially myths, but held by many, in spite of the evidence.

Learn to trade. And stop believing in fairies.

Science can prove a Bumble Bee can't fly, but the Bumble Bee doesn't understand science and goes ahead and flies anyway!