Day Trading & Forex Forum

trendie

I would like to recommend the above website.
you have to subscribe; however, you dont have to pay anything to get the newsletters, which have a lot of useful general articles, not necesarily EW related.

reason for recommending is there have 2 very good ones recently, of which I give links: (hopefully they work without you subscribing)

"Five Fatal Flaws of Trading"
http://www.elliottwave.com/features/...d=3077*time=pm

"Dont be a Sucker for a Good Story" ( about hindsight bias, and finding false connections when reviewng recent events)
http://www.elliottwave.com/features/...d=3301*time=pm

__________________
If the only tool you have is a hammer, you tend to see every problem as a nail - Abraham Maslow
There are 10 kinds of people in the world; those that understand binary, and those that dont. -Anon
Warning: May contain nuts.

jacinto

thanks trendie, will have good look

j

fibonelli

I have a couple of books by Robert Pretcher and can recommend EWI as a very good resource during the mania stages of a (credit) bubble and in bear markets.

They do a free week twice a year. The next one should be next month or Oct.

nb As useful as a chocolate fireguard during bull markets. For example, EWI have been bearish of the US equity market since the mid 1990s.

__________________
Audere est Facere

"The trend is your friend and divergences are your best friend until the bend at the end"

Party on like it's 1930, until Mr C (Wave) gatecrashes the party.

forex99

Elliottwave is in the eye of the beholder!
Put ten Ellioticians in a room and they will all have different interpretations of the "wave structure". Elliottwave is all about "predicting where the market is going next" and nobody knows where price is going next!!
It is all about picking tops and bottoms. I don't use it anymore after years of studying and following Prechters view.
I think you'll make more money following a simple moving average up and down the page then using the wave principal.

Elliotwave international are seen as the best out there and even they can't choose market direction correctly, so what good is it going to do the beginner, except confuse him terribly.
Please note this is my personal experience using Elliottwave and if it works for you then great, but someone who continuously calls a bear market when the market is flying up the page needs to review there analysis. The market is not going to stick to any zig zag pattern or stop dead in it's tracks because it's reached a five wave up pattern.

It sounds fantastic, the way the markets move and what drives price action i.e human emotion.But I personally believe that in the longterm you'll go broke if you only use Elliottwave."Top and bottom pickers become cotten pickers" I think the saying goes?

Like everything in the world of trading keep an open mind and use what works for you.
Best of trading to you.

jacinto

good post FX.

actually, i just learned 3 concepts of EW and think thats about all i need.

trendie

good point forex99.
I agree wholeheartedly about the subjectivity of EW, leading to contradictory analyses even amongst experts.

My reason for recommending the newsletter was NOT to endorse EW at all, but to highlight the useful "general" articles about trading.

The two examples I offered in the first post were about "5 Fatal Flaws in Trading" and "Hindsight Bias", which are valid general concepts whether you believe in EW or not.

__________________
If the only tool you have is a hammer, you tend to see every problem as a nail - Abraham Maslow
There are 10 kinds of people in the world; those that understand binary, and those that dont. -Anon
Warning: May contain nuts.