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Glenn Neely and Neowave
- Thread starter 4:35pm
- Start date
I looked at it a couple of years back. It appeared more objective than traditional EW but I scraped both. This guy compares both on a regular basis. http://yelnick.typepad.com/yelnick/2005/05/the_great_wave_.html
nothing special. Advertises (maybe more heavily in the past), but appears no more useful than its flawed underlying (EW) foundation.
a great comment I read by someone replying to a similar question -
"It makes my head hurt" - found the original - - -
"I looked at this a while back and came to three conclusions:
It is sufficently complex that you can make consistent mistakes and never know it.
You can never figure out if you are doing it wrong or if the system itself is flawed.
It makes my head hurt.
Dick"
'Forums > Trading Discussion > Neowave and Glenn Neely': post # 11:
http://www.forexfactory.com/showthread.php?t=10696
as dandxg points out, Yelnick is The ? source for the more prominent EWers and -
months ago now - he reported that Neely was shorting the ES - for the fifth time
Neely also dropped his 'Mastering Elliott Wave' system because it was too time
consuming and created the 'Neely River Theory'
http://tradinglib.com/education/neely-river-theory
scroll down to read 'Neely has a new RIVER SYSTEM????????' by Neely 12/05/06
http://yelnick.typepad.com/yelnick/2006/12/election_correc.html
not sure if the river's now run dry
"It makes my head hurt" - found the original - - -
"I looked at this a while back and came to three conclusions:
It is sufficently complex that you can make consistent mistakes and never know it.
You can never figure out if you are doing it wrong or if the system itself is flawed.
It makes my head hurt.
Dick"
'Forums > Trading Discussion > Neowave and Glenn Neely': post # 11:
http://www.forexfactory.com/showthread.php?t=10696
as dandxg points out, Yelnick is The ? source for the more prominent EWers and -
months ago now - he reported that Neely was shorting the ES - for the fifth time
Neely also dropped his 'Mastering Elliott Wave' system because it was too time
consuming and created the 'Neely River Theory'
http://tradinglib.com/education/neely-river-theory
scroll down to read 'Neely has a new RIVER SYSTEM????????' by Neely 12/05/06
http://yelnick.typepad.com/yelnick/2006/12/election_correc.html
not sure if the river's now run dry
Quote from Wallace:
a great comment I read by someone replying to a similar question -
"It makes my head hurt" - found the original - - -
"I looked at this a while back and came to three conclusions:
It is sufficently complex that you can make consistent mistakes and never know it.
You can never figure out if you are doing it wrong or if the system itself is flawed.
It makes my head hurt.
Dick"
'Forums > Trading Discussion > Neowave and Glenn Neely': post # 11:
http://www.forexfactory.com/showthread.php?t=10696
as dandxg points out, Yelnick is The ? source for the more prominent EWers and -
months ago now - he reported that Neely was shorting the ES - for the fifth time
Neely also dropped his 'Mastering Elliott Wave' system because it was too time
consuming and created the 'Neely River Theory'
http://tradinglib.com/education/neely-river-theory
scroll down to read 'Neely has a new RIVER SYSTEM????????' by Neely 12/05/06
http://yelnick.typepad.com/yelnick/2006/12/election_correc.html
not sure if the river's now run dry
Doesn't sound like it passes the smell test. Constantly changing systems.
according to Tom Joseph - Advanced GET -
"About 65% of EW analysis is made up of complex rules which can be dissected in
numerous ways.
. . . I was finally able to build a simple model using the other 35% of EW analysis
that is very clear. Further research showed that the 35% of the rules that Are clear
contributed to almost 80% of the profits that can be achieved by using EW analysis.
. . . I am also 70% sure [!!!] that once you study the examples in this manual you
will be able to count EWs in any market without anyone's help with a high degree
of accuracy."
p 3: 'Practical Applications of a Mehanical Trading System' - attached
"About 65% of EW analysis is made up of complex rules which can be dissected in
numerous ways.
. . . I was finally able to build a simple model using the other 35% of EW analysis
that is very clear. Further research showed that the 35% of the rules that Are clear
contributed to almost 80% of the profits that can be achieved by using EW analysis.
. . . I am also 70% sure [!!!] that once you study the examples in this manual you
will be able to count EWs in any market without anyone's help with a high degree
of accuracy."
p 3: 'Practical Applications of a Mehanical Trading System' - attached
Attachments
anybody still interested in Neely River here?