Elliot Waves

[samtron]

Elliot Waves.........

Do they work?

following on from the FIB thread can we have some views on this please?

 

[Trader333]

They seem to work well for all those with 20/20 hindsight


Paul

 

[Grey1]

It works if you know how much the first wave can be extended to in advance LOL and knowing that the third wave will never be the shorttest ( there again it might be the shortest who knows ) ..

So the mass behaves in a certain manner obeying the wave theory ? Hmmmmmmmmm




Grey1

 

[Grey1]

.

 

[samtron]

Any more views

TheBramble?

 

[kako]

Hi

any rule/method/strat works to some extents....if the Trader CAN use the tool in a WAY to build an appropriate EDGE in his trading, it's ok. next task is to increase/expand the edge via risk mgmt and position sizing techniques. if using a new technique enhances ur winning probilbility with the RR u had befor, that means u found a better edge, so u can change ur tool, use elliot instead of what u were using before...

anyway, regarding mkt prediction, i agree with many others that it's not the main purpose of trading(could be the purpose for weathermans tho). i don't mean it's not needed @ all, we need it @least in a probabilistic manner, what i mean is we don't lack tools/methods, TA serves more than enough, for every1 to find/invent his own desired tool(s).
what most(including me) lack, is the latter, risk mgmt, position sizing.
it enables the trader to endure during inevitable DD periods, so staying in the mkt which is the most essential part of trading, will remain intact.

i read once that 2 traders, 1 with high performace(between 10% winners) , other 1 was from poor 90% conventional losers camp, have been given the same signals for a specific time, and result was astonishing, the experienced 1 wins and the other 1 loses as he always does , the difference was their position sizing. wonderful, isn't it?


Regards
......................................
Kako

 

[LevII]

Easy as A B C

LII