What's this Elliot Wave Indicator for the FX market all about?

[trendie]

I have been trying marketscope charts and asked FXCM if there is a probem with them, they say they are OK.

But then they would.
If the charts start to work will the 4xtrend system be ok.

Hi all,

I spoke directly to FXCM regarding MarketScope in the context of Elliott Waves.
( this was Mon/Tues this week )

Their response was that they regard MarketScope as a "beta" product.
They confirmed verbally that the Elliott Waves aspect is suspect.
They recommend using NetDania, or the charting that can be clicked on from their FXCM website.

As its a "beta" version, it is a case of "buyer beware".

I hope I havent added smoke and confusion to this, but this is from FXCM themselves.

They also gave me the email of their technical department [email protected]
These are the techies who develop products and support the technical aspects.
I havent emailed them, but they should confirm in writing what I was told over phone.

for the time being, 4xtrend is a paper-exercise.

 

[timcannell]

Still waiting for a reply to my latest email - I think its now time to cut Brian out of the loop...

 

[Angler]

Hi all,,

If your using the Marketscope charts becareful not to make your exit decisions based on the movement on the charts as I found out the other day ( In my case all was well ) that the charts moved slower than the trading platform. My experience was that lucky for me I was watching the price movement on platform not the charts and when the the price moved I decided to make my exit. But then going back to the charts the price had not yet reached the price where I had made my exit and if I had waited on the chart to reach my exit level the platform would have been about a 30 pip difference. This was a reasonably quick market move and something to keep an eye on.

Either set your price limits or watch the platform not Marketscope.

I also use FX Power Charts and they are quick and seem to change well with price changes in quick market times.

Regards

John

 

[alliance]

(btw, no further em@il from Brian despite his assurances that he would answer my questions "with the utmost priority" almost 48 hours ago)!

Finally, a response from Brian

"I am working to provide access to the EW indicators on another package. Due to some set backs, it will still take some time. Other traders and myself have actually been still using marketscope with tremendous success, but I can understand that you won't trust something that Fxcm says not to trust. It is amusing, because fxcm gave me permission to use their marketscope package and continues to tell me it is ok. You will hear a different story from each different tech you speak to from fxcm."


I have written back requesting a refund, since "it will still take some time" is a lil too vague for my liking.




:

 

[timcannell]

... and so endeth this thread ;-)

Finally, a response from Brian

"I am working to provide access to the EW indicators on another package. Due to some set backs, it will still take some time. Other traders and myself have actually been still using marketscope with tremendous success, but I can understand that you won't trust something that Fxcm says not to trust. It is amusing, because fxcm gave me permission to use their marketscope package and continues to tell me it is ok. You will hear a different story from each different tech you speak to from fxcm."


I have written back requesting a refund, since "it will still take some time" is a lil too vague for my liking.




:

 

[alliance]

Tim:
No response from my last em@il asking for a refund...surprise surprise!

Carpe has gone quiet on the subject too...he was contacting Brian also!

 

[Mark Hellikson]

Refunds

Tim:
No response from my last em@il asking for a refund...surprise surprise!

Carpe has gone quiet on the subject too...he was contacting Brian also!

I haven't done it yet (been very busy with other matters), but someone else on the forum recently explained that a refund can be obtained by contacting the credit card company you used for purchasing the 4xtrend Education Manual.

By the way, I've not any response from Brian either. I'll probably contact my credit card company this week...

 

[timcannell]

I haven't done it yet (been very busy with other matters), but someone else on the forum recently explained that a refund can be obtained by contacting the credit card company you used for purchasing the 4xtrend Education Manual.

By the way, I've not any response from Brian either. I'll probably contact my credit card company this week...

Is there a time limit for CC refunds ? - mine payment was taken on the 15th Sept

 

[Mark Hellikson]

Is there a time limit for CC refunds ? - mine payment was taken on the 15th Oct

I believe you'd have to duscuss this with your credit card company (CCC). As mentioned in the earlier, refund post by another forum menber, tell you CCC you purchased a defective system and that, as a result, you are demanding a refund. Be sure to tell them you have not received a reply from 4xtrend regarding the refund request...

 

[trendie]

Hi,

I posted my views regarding getting the CC company to refund you on post nbr 368!!

 

[Mark Hellikson]

Hi,

I posted my views regarding getting the CC company to refund you on post nbr 368!!

Thanks for that reminder Trendie...

As an example, I just called my credit card company and they're going to contact 4xtrend with a "dispute report" to obtain my refund.

Hope this helps.

 

[timcannell]

In case anyones still interested the original ( maybe ) inspiration for these indicators seems to be from a 1996 magazine article which actually has a strategy for TradeStation (I have the code if anyone with TS2000 wants it ) - I think Kaufmann lifted the code from this for his book - however although similar to 4xTrend it is not the same - at least the wave number and trend indicators are not - Ive run this strategy ( with the recommended 80 period and 0.7 trigger ) - It never generates short trades and the trend can never be zero after its initial zero value - at this point my will to identify the correct formulae wilted somewhat :-(

 

[keisterj]

Can anyone provide the code of Elliot Signals in the form of C++

 

[timcannell]

Can anyone provide the code of Elliot Signals in the form of C++

Im actually a professional C++ programmer - noone can provide the correct formulae ( FXCM are unwilling to disclose it ) - thats the problem !

 

[alliance]

Hi,
em@il received from Brian with website address, user name and password for a new 4xtrend forum he has set up............

This is Brian Campbell from 4xtrend. As you may have noticed,
we have been working on a members only forum so our traders
can interact with one another.

The 4xtrend members only forum is finally here! It's a free
resource to all 4xtrend members. You can discuss forex related
topics with other 4xtrend traders.

 

[alliance]

Tim:

Quote from Brian in response to a post on the above forum:

"I have the formulas for the Elliot Wave Indicators if you would like to program them into another chart program"

 

[timcannell]

Tim:

Quote from Brian in response to a post on the above forum:

"I have the formulas for the Elliot Wave Indicators if you would like to program them into another chart program"

Many thanks Alliance - I hope this is true; I have emailed Brian and requested a login for the message board; as well as the correct formulae - I hope they are not just copied from Kaufmann because these are not exactly the same..

 

[Kenel]

Elliot Wave Principle

Elliot Wave Principle
Not sure if this comes into sucking eggs territory. I have been interested in the Elliott Wave Principle since around 1973 and it works in hindsight. It is based upon the fact that markets move in five waves and then those five waves are corrected by three down waves. The wave structure can be seen going back a hundred years. Each wave becomes the composite of the next wave, so wave one is made up of five waves and corrected by three down waves which makes wave two and so on. You can get many books on the subject and Prector an Elliott guru who predicted the 1987 crash and lived on it for years, made some video tapes on how to apply it. It does help in the bigger picture but for day trading I would forget it.

 

[Tekunda]

"I am working to provide access to the EW indicators on another package. Due to some set backs, it will still take some time. Other traders and myself have actually been still using marketscope with tremendous success, but I can understand that you won't trust something that Fxcm says not to trust."

I repeat myself again: Maybe this is THE secret to having success. Maybe because of a crazy mechanism we will never understand these faulty charts are the key to success and the system would loose with proper charts?
Is this such a strange idea? Has nobody ever thought of that besides me? ;-)

 

[Kenel]

If you want to tryt a free site re Elliot the link below will get you there. Good Luck
www.elliottician.com