Elliot and Gann analysis exposed

LORD JAMLA

Member
98 7
Let me first clarify this, NO PROFESSIONAL TRADER IN THE CITY USES ANY OF THESE TOOLS. Indeed they laugh at the simplicity of the Gann method. Gann believers would have shorted the FTSE yesterday on the break of the 50% all time high of 3460 and placed their stop there, yet the FTSE roared back to close above this level. Yet another case of a Gann cock-up. Elliot Wave has more precedence yet the simple fact is 70% of the time the waves CANNOT match any physical form of the system. And questions remain unanswered when Fib targets rae not met. A trading system need a higher percantage success ratre of 20-30% to be profitable. Now figure this: the whole theory of Elliot Waves is that the world and hence man is governed by a natural law. Which means that in essence EVERYTHING HAS BEEN WRITTEN BEFOREHAND. You need to believe EVERYTHING LITTLE THING IS DESTINED. That we are mere robots without any free will or choice. If you are not prepared to belive this then you cannot be a Elliot Wave technician as this is the base of the study.
 

DaveJB

Experienced member
1,159 42
Errr, no....
by that token you can argue that everything is predestined - this company has a NAV of x per share therefore it will go up to Y and it is all predestined and I can't alter it. Apart from that 'no professional trader' fills me with hope - without intending to 'diss' any of the fine people I've encountered, including some very astute individuals, the pros seem to be having trouble these days.
Please accept my sympathy by the way, as it sounds like your bedsit floor must have collapsed - have you tried reducing the floor count by laying plywood over the hole until the council can get round to fix it?
Dave
 

markjpwill

Junior member
34 0
Correct Roger. The point about Gann in particular is that it is not a day trading system - it is used to spot TRENDS, some of which may last months. Any good Gann technician (and there are some) knows a lot abou entry/exit conditions etc. and so will happily be stopped out of a trade at entry before re-entering later and riding the trend. I don't personally know a lot about it, but I do know a Gann trader who is making a LOT of money. he is a professional (but for himself not a bank) and I know he has made a 6 figure income for he last five years at least. Love to get details fo your course though lord J - sounds like the promised land of simple money.
 

options

Senior member
2,374 218
Lord, what tools do the city pros use then?

(Each time I read that it sounds like a prayer.)

Regards

Options.
 

neil

Legendary member
5,167 748
Same again...

I'll have a pint of whatever Lord Jamla is drinking.

:D
 

adriann

Newbie
1 0
There's nothing like informed comment, and this is clearly nothing like informed comment. Perhaps a little study of Gann and Elliott (note two t's) might be fruitful and allow Lord to pay for the repairs to the floor of his bedsit.
 

LORD JAMLA

Member
98 7
Thou aren't clever enough to answer any of the questions which were addressed, hiding your inabilities behind ridicule and humour. To enliven debate one needs feedback of which I can't see any here. Now to answer your questions, I am well versed in Elliott waves - indeed I have the E-wave bible and have made some astounding predictions based on it. Yet I soon realised, after throwing away my rose-tinted glasses, that 70% of the time a chart can fit numerable e-wave patterns or no pattern at all. Which means one is up the proverbial creek if one is limited to that technique. No one could answer why the wave gurus missed the biggest bull market of all time whilst economics students at uni (of which I was one at the time), were making 25K in a month.
Addressing Gann, well let me tell you all that literally a 12-year old kid could use this method, it's a simple method of algebra, an intellectual mind like mine does not even require a calculator for this one. Again we only here the success stories on this one - I challenge anyone here to name a way Gann has helped them make money. One rule of Gann is that if a share falls below half of it's all time high, then it will never recover. Yet in the 1920's , when the Dow frequently halved and doubled in the space of a year, numerous shares broke this rule.
Why are people so skeptical about broker upgrades, but so un-skeptical about the people selling these systems - THEY"RE DOING THE SAME THING. Yet it is inevitable that the majority of folk will lose money. Why?? - well if we make money it's the banks money we take and hence they will lose money. Now I don't think they nor our dear government want all our big banks losing monies do they. Won't do much for the economy will it - banks going bust and the like.
I wish I could tell you, (the sheep) the way to unlock yourselves from following the herd, most of you are doing it without even knowing it, we are all programmed form birth to follow society in fashion, values etc etc and must atune our minds to think independently. I can not unveil the secrets of doing this as I am bound by contractual agreements in my seminar.
 

oatman

Senior member
2,879 22
LORD JAMLA said:
Let me first clarify this, NO PROFESSIONAL TRADER IN THE CITY USES ANY OF THESE TOOLS. Indeed they laugh at the simplicity of the Gann method. Gann believers would have shorted the FTSE yesterday on the break of the 50% all time high of 3460 and placed their stop there, yet the FTSE roared back to close above this level. Yet another case of a Gann cock-up. Elliot Wave has more precedence yet the simple fact is 70% of the time the waves CANNOT match any physical form of the system. And questions remain unanswered when Fib targets rae not met. A trading system need a higher percantage success ratre of 20-30% to be profitable. Now figure this: the whole theory of Elliot Waves is that the world and hence man is governed by a natural law. Which means that in essence EVERYTHING HAS BEEN WRITTEN BEFOREHAND. You need to believe EVERYTHING LITTLE THING IS DESTINED. That we are mere robots without any free will or choice. If you are not prepared to belive this then you cannot be a Elliot Wave technician as this is the base of the study.

These laughing traders, are they still long and do they still have jobs?
 

DaveJB

Experienced member
1,159 42
Oooh, wouldn't it be nice to be a perfeshional analyst?
Let's see.... how does it go...
'Do you want to go large with that?'
See - I could be one if I really tried....
 

LORD JAMLA

Member
98 7
You lot still laughing now are you?!!?!?? Thought not - you've all just been stopped out on your shorts for yet another loss. Good thing I ain't into this Gann lark, cuz if I was I wouldn't have longed the index at 3297 yesterday. Stop is at 3,300. ALL THE SHEPHERDS WERE AWAITING FOR THIS LEVEL, while the sheep thought 3,450 was key. It wasn't and isn't. I'll let you lot know how much I make.

Toodle Pip
 
 
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