If you want to fail as a trader, study TA

[jon1971]

the reason it doesn't work is highlighted in both your posts! no 2 elloticians could ever agree on what wave of 123 or abs or sub-wave bla bla..EW is great in hindsight but as for predicting the market, doesn't work IMO. sometimes it does, but like most other TA things i don't count something that works "sometimes" as working.

Do you not think it could be used to forecast the average length of a trend? I say AVERAGE, sure some trends will only consist of three waves and some may consist of twenty, these would be outside of the realm of NORMAL market activity, I'm only interested in NORMAL activity, the AVERAGE, which relates back to PROBABILITY.

And before you say it's the twenty wave moves that provide profit, who's to say that I wouldn't already be in?

Also, what Traduk uses could be defined as EW, what I use isn't, my wave counting method is only loosely based on EW.

 

[Traduk]

the reason it doesn't work is highlighted in both your posts! no 2 elloticians could ever agree on what wave of 123 or abs or sub-wave bla bla..EW is great in hindsight but as for predicting the market, doesn't work IMO. sometimes it does, but like most other TA things i don't count something that works "sometimes" as working.

I studied Elliot and for a long time was convinced. After structural investigation on my own part and seeing that a multi-fractal concurrent development does not lead itself to single dimension rules my interest vanished. The ambiguity in Elliot is founded within erroneous rigidity to rules that IMO are not valid.

Because I use the same terminology and some of the jargon to waves that are obvious for anyone to see it does not imply the use beyond structure that I see develop day after day.

Like all things in this business, use what works and adapt to suit whatever you are doing. With that trade there are many different TA protocols that could have been applied with each exiting at slightly different levels. If in the fractal structure of interest I see that I am clearly entering or in a 5th wave then closer attention is paid to when to take the exit door. No presumption but more attention.

You are right about Ellioticians agreeing on nothing and that is plenty enough reason to discount it as practical because the last thing a trader wants is maybe this, maybe that via alternative counts. It sets up indecision and paralysis via analysis. Bits of the theory have uses as with much else.

 

[jon1971]

I studied Elliot and for a long time was convinced. After structural investigation on my own part and seeing that a multi-fractal concurrent development does not lead itself to single dimension rules my interest vanished. The ambiguity in Elliot is founded within erroneous rigidity to rules that IMO are not valid.

Because I use the same terminology and some of the jargon to waves that are obvious for anyone to see it does not imply the use beyond structure that I see develop day after day.

Like all things in this business, use what works and adapt to suit whatever you are doing. With that trade there are many different TA protocols that could have been applied with each exiting at slightly different levels. If in the fractal structure of interest I see that I am clearly entering or in a 5th wave then closer attention is paid to when to take the exit door. No presumption but more attention.

You are right about Ellioticians agreeing on nothing and that is plenty enough reason to discount it as practical because the last thing a trader wants is maybe this, maybe that via alternative counts. It sets up indecision and paralysis via analysis. Bits of the theory have uses as with much else.

I think we're roughly on the same page, soz if I misrepresented...

 

[Devilicus]

Out of interest, Id like to know what the anti TA people make of various posters on this forum and others who do seem to be consistently doing well, apparently just trading the charts.
They post live trades and sometimes blotters, so I cant see how there can be any doubt in their cases.

we had 'chilltrader' with his journal recently. He posted realtime calls everyday and certainly seemed to be up most days.

SH-101- Early days for him yet, but started pretty well with his journal which has live trade calls.

There's the 'live forex trades' thread. Leovergo, Temporarilylite and Lordflasheart all post live calls regularly and again, just seem to plod on winning more than they're losing.

There's 'Gamma' who from what i know just trades the charts and kicked butt in the 'ETX' thread turning his fre account into a few k if memory serves me correct (although that's probably a disservice to how good he is and a poor example)

On elitetrader 'NoDoji' posts live trades and blotters on a daily basis and trades price action alone. Does well.
The best example may be 'lescor' from elitetrader. He makes some very good money to most people (15k per week or so).
He told me he uses 'Charts and the occasional spreadsheet'!

I dont have much to add to the argument, for or against TA, but am curious as to what people think about the above.

 

[The Expert]

you do know the EW is aload of guff yeh?

NR, I might let you in after all:cheesy:

Waves are best seen in the Ocean

I am going to recommend your post

TE

 

[The Expert]

The Doji you entered on was the beginning of the 5th wave down. The wave you played tried to extend into 7 mini waves but the 7th created a double bottom which was a failed break-through. when the little peak on the right of the failure was taken out, buyers had their sights on the two higher peaks to the right and it was odds on they were going to get them. Having taken them out they may drop to build again and run higher but likely do no better than correct part of the run down. If price drops, rebuilds and heads north again, your entry is the next peak to beat and they will probably take it out and head towards the higher ones. Whether what I conjecture happens and what happens subsequently will only be seen in price and structure development but IMO the buyers have sway for the moment but within a downtrend.

Fibonacci falls into the area of symmetry. If traders see a swing of 8 points with a correction to half-way they exit in droves after another swing of 8 points because they trade what they saw before. Sometimes its point perfect but under and over-runs do occur. The under-runs are the wise ones who have learned not to be a d**k for a tick. The over-runs move into Fibonacci areas of expansion and although the numbers have no special meaning they can be useful way-points if beaten. Reference to the right of the chart always over-rules (providing the data is reasonably current) because in passing previous reaction points in the prior trend more wrong sided traders are flushed out to feed the hoped for new trend.

The way you have described is nothing but a total waste of time = money

The longer you are in the market the longer your money is at risk.

People will ALWAYS see what they WANT to see:whistling

"Blessed is HE who has not seen, yet BELIEVES"

TE

 

[N Rothschild]

NR, I might let you in after all:cheesy:

Waves are best seen in the Ocean

I am going to recommend your post

TE

ive never once disagreed with what you say about TA as i dont use it either. i merely disagree on you being an expert :clap:

 

[The Expert]

OK then, no more drink for today

http://marketrac.nyse.com/Light/index.html

TE

Why post something if no one is even going to bother to look

TE

 

[The Expert]

ive never once disagreed with what you say about TA as i dont use it either. i merely disagree on you being The Expert :clap:

:cheesy:

TE

 

[jon1971]

Why post something if no one is even going to bother to look

TE

Hmm, not so sure about intra-day volume TE, you will get spikes at certain times of the day, e.g. first and last half hours, and volume will dry up through the lunch time period. Most days will look like a saucer pattern (IMO).

Thanks for posting by the way, what are the charges for live quotes?

 

[The Expert]

Hmm, not so sure about intra-day volume TE, you will get spikes at certain times of the day, e.g. first and last half hours, and volume will dry up through the lunch time period. Most days will look like a saucer pattern (IMO).

Thanks for posting by the way, what are the charges for live quotes?

OK, let me say this, and let it be the LAST TIME

You do NOT have to pay for anything, except the commission for the privilege of trading. Everything else you NEED is available for free, hell, even the Coach/Trainers are now free, well, at least one is:cheesy:

Forget about all this crap that you HAVE to have PROFESSIONAL charting and data feeds, for, it is all rubbish and will just waste your time = money:smart:

The volume is on that chart because I can not not take it off:whistling

LOOK AT THE RANGE

HOW DID I GET THAT STOCK AND CAN YOU FIND IT QUICKLY:idea:

TE

 

[jon1971]

OK, let me say this, and let it be the LAST TIME

HOW DID I GET THAT STOCK AND CAN YOU FIND IT QUICKLY:idea:

TE

Ooh err, sorry missus..

Is it the default stock on display on the front page, can't see a code for it.

Correction it's the DJIA on the front page, but that's not the image you've pasted.

Erm, CHTS (Cheese and tomato sandwich)??

 

[N Rothschild]

OK, let me say this, and let it be the LAST TIME

You do NOT have to pay for anything, except the commission for the privilege of trading. Everything else you NEED is available for free, hell, even the Coach/Trainers are now free, well, at least one is:cheesy:

Forget about all this crap that you HAVE to have PROFESSIONAL charting and data feeds, for, it is all rubbish and will just waste your time = money:smart:

The volume is on that chart because I can not not take it off:whistling

LOOK AT THE RANGE

HOW DID I GET THAT STOCK AND CAN YOU FIND IT QUICKLY:idea:

TE

its in a 1 dollar range..

 

[Traduk]

The way you have described is nothing but a total waste of time = money

The longer you are in the market the longer your money is at risk.

People will ALWAYS see what they WANT to see:whistling

"Blessed is HE who has not seen, yet BELIEVES"

TE

Thanks for that. I'll let it pass as my desired reply is more likely to get me banned than penetrate into where your synapses misfire.

When it comes to a total waste of time you are the master in your pursuit of ego enhancement.

As for the stock puzzle you have set people. Look at the screening link in a previous post and the only one in the price category is Home Depot. Click the chart button beside it and you will see the self same chart as TE posted. Hope there are no copyright issues.

I think you have a heck of a nerve treating people like children which without doubt is self elevation by denigration but as I said, you help Macattack with something constructive and at least someone will get something from your presence.

 

[The Expert]

Thanks for that. I'll let it pass as my desired reply is more likely to get me banned than penetrate into where your synapses misfire.

When it comes to a total waste of time you are the master in your pursuit of ego enhancement.

As for the stock puzzle you have set people. Look at the screening link in a previous post and the only one in the price category is Home Depot. Click the chart button beside it and you will see the self same chart as TE posted. Hope there are no copyright issues.

I think you have a heck of a nerve treating people like children which without doubt is self elevation by denigration but as I said, you help Macattack with something constructive and at least someone will get something from your presence.

I know you are learning a little bit too, but you will not say it :cheesy:

Don't ever be afraid to speak to the truth, for, it will do you the world of good

I only help those who are willing to help themselves, and others

TE

 

[The Expert]

Out of interest, Id like to know what the anti TA people make of various posters on this forum and others who do seem to be consistently doing well, apparently just trading the charts.
They post live trades and sometimes blotters, so I cant see how there can be any doubt in their cases.

we had 'chilltrader' with his journal recently. He posted realtime calls everyday and certainly seemed to be up most days.

SH-101- Early days for him yet, but started pretty well with his journal which has live trade calls.

There's the 'live forex trades' thread. Leovergo, Temporarilylite and Lordflasheart all post live calls regularly and again, just seem to plod on winning more than they're losing.

There's 'Gamma' who from what i know just trades the charts and kicked butt in the 'ETX' thread turning his fre account into a few k if memory serves me correct (although that's probably a disservice to how good he is and a poor example)

On elitetrader 'NoDoji' posts live trades and blotters on a daily basis and trades price action alone. Does well.
The best example may be 'lescor' from elitetrader. He makes some very good money to most people (15k per week or so).
He told me he uses 'Charts and the occasional spreadsheet'!

I dont have much to add to the argument, for or against TA, but am curious as to what people think about the above.

All of those about whom you speak are irrelevant and insignificant

What a trader must realize is this:idea:

99% of what is out there is pure and utter rubbish, so, that only leaves 1% that is really worth anything of value

If a trader wants to get closer to that 1%, the trader must start to think differently to everyone else and ONLY concentrate on things that will make money for the trader, not some other idiot who will gladly take the traders hard earned money

The world is full of idiots, it is up to each and every individual to decide if they want to join the gang, or be different and stand on thier own 2 feet, and say, those idiots know Jack S.h.i.t about anything, for, they are no better than a child throwing darts at the FT:cheesy:

If you think that what I say is not true, then, you know what group you are incheesy:

The new private forum about to be set up will not be allowing any suck people in, for those that might corrupt the minds of the willing and able are best kept at bay

TE

 

[The Expert]

Why post something if no one is even going to bother to look

TE

Test

 

[MacAttack]

Is it Home Depot?

 

[The Expert]

Test 2

I bet you NR will know the range

 

[Traduk]

Is it Home Depot?

Yes, Look at my post 754 (posted 4 hours ago).