Elliott Wave

Hi all,

Just been introduced to the world of Elliott Wave so here I am with a few questions:

1) Does anyone use this as their MAIN trading method?
2) Does anyone use this with success?
3) Does anyone think it's absolute B0llocks?
4) Where can I learn more?

Feel free to PM me.

Thanks in advance

Effkay

Check out our forums for other users of Elliott Wave, a feature of the Advanced GET product here:

http://forum.esignalcentral.com/foru...?s=&forumid=61


Chuck
@eSignal

IMO, the best EW resource is Dynamic Trading by Miner. However, I do not think that EW (or anything else) should be used as a stand-alone technique or signal.

Sign up for Charlie Miller's daily email.

He provides a great daily analysis of the DOW and COMPX based on Elliott Wave Analysis ( EWA) and it is absolutely free.

Write to him at CEMCEMCEM@aol.com and ask him ( nicely ) to add you to his mailing list.

I have studied Elliott Wave extensively and am thoroughly convinced, after much trial and especially error, that its basic premise of an underlying and irrefutable order has no validity. The market will however display beautiful waves from time to time, compatible with Elliott´s patterns, but usually it is too late to trade them once they are fully visible.

The real truth I´ve taken from my Elliott studies is that the market is always "searching" for a fair price (equilibrium) it can not know, and therefore moves in waves, which create the profit opportunities for us traders. Being a wave theory, Elliott certainly feels logical, but the standard model (and all other versions of it, including Neely) is just way too deterministic to work.

Having said that, if you want really independent and often fascinating psychological analysis of markets and the economy, do yourself a favor and study Robert Prechter. Even though I disagree with the validity of his favourite market model (Elliott), I find Prechter as honest, refreshing and thoroughly knowledgeable. Plus, the man can write.