Get ready. Studying Elliot Waves will make your head hurt.
Especially that book. One of my fav software progs. does the charts
of the E-waves for you: Advanced Get from ESignal.
That book obviously has a lot of readership or it wouldn't have
been around for so long. I see Steve every night interpreting EW so
I guess it's useful somewhat? I totally agree it's up to one's
interpretation and best used by looking back at what has already
happened but it sure can give perspective on background of where we
are in the market cycle.
I would highly recommend the information on fibs as well in
"that book"!
Go to any elliot wave Blog and for every person there you will
get a different viewpoint. Its also mostly after the fact.....I
agree Steve...stay away!
Posted by timebandit on 10th of Jun 2022 at 08:36 am
In that way, it’s kind of like astrology, which has a very
rational structure with enough looseness that you can drive a truck
through it. Plenty of room for “interpretation “.
Don’t get me wrong, astrology can be a lot of fun. It can also
be serious enough to guide your life. It provides a language and
way of thinking with which one can navigate the world. Kudos if
you’ve made it work for you.
I look at Elliott Wave and the markets the same way
Don't negate - there is some useful data there as well - for
example the moon cycles have some nice correlations with the
market. Again USE WHAT WORKS FOR YOU
Posted by timebandit on 10th of Jun 2022 at 08:41 am
I agree. Hey, I had my chart done by an astrologer 30 years ago
and there was some really useful data there. In the hands of a
seasoned practitioner, it provides a rational map. Not knocking it
at all. This is just how I understand it.
I think you and Matt are seasoned practitioners of Elliott Wave,
and I benefit from the useful data you provide, for sure
Well stated Kobie - best used as a guide when quite obvious for
those with considerable experience and only a small percentage
overall when trading. Focus on the technicals first and
consider cycle dates etc. Formulate an approach that works
for you on your time frame.
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Any recommendations on how one
Posted by cccruz on 9th of Jun 2022 at 10:08 pm
Any recommendations on how one could educate themselves more on Elliott waves? Books, videos, etc…. Thanks
Get ready. Studying Elliot Waves
Posted by brophy on 10th of Jun 2022 at 07:47 am
Get ready. Studying Elliot Waves will make your head hurt. Especially that book. One of my fav software progs. does the charts of the E-waves for you: Advanced Get from ESignal.
That book obviously has a
Posted by cozz101 on 10th of Jun 2022 at 09:21 am
That book obviously has a lot of readership or it wouldn't have been around for so long. I see Steve every night interpreting EW so I guess it's useful somewhat? I totally agree it's up to one's interpretation and best used by looking back at what has already happened but it sure can give perspective on background of where we are in the market cycle.
I would highly recommend the information on fibs as well in "that book"!
I think Elliot Wave Principle
Posted by cozz101 on 9th of Jun 2022 at 10:38 pm
I think Elliot Wave Principle by Frost and Prechter is probably the bible on EW and pretty good education on fibs as well.
https://www.amazon.com/Elliott-Wave-Principle-Market-Behavior/dp/1616041374/ref=sr_1_1?crid=1Y0BD8OL8AXQ1&keywords=elliot+wave+principle+by+frost+and+prechter&qid=1654828549&sprefix=prechter%2Caps%2C113&sr=8-1
My advice is to avoid
Posted by steve on 10th of Jun 2022 at 08:12 am
My advice is to avoid getting consumed with Elliot Wave for trading. Think of it as mapping
Go to any elliot wave
Posted by kobie on 10th of Jun 2022 at 08:24 am
Go to any elliot wave Blog and for every person there you will get a different viewpoint. Its also mostly after the fact.....I agree Steve...stay away!
In that way, it’s kind
Posted by timebandit on 10th of Jun 2022 at 08:36 am
In that way, it’s kind of like astrology, which has a very rational structure with enough looseness that you can drive a truck through it. Plenty of room for “interpretation “.
Don’t get me wrong, astrology can be a lot of fun. It can also be serious enough to guide your life. It provides a language and way of thinking with which one can navigate the world. Kudos if you’ve made it work for you.
I look at Elliott Wave and the markets the same way
Don't negate - there is
Posted by steve on 10th of Jun 2022 at 08:37 am
Don't negate - there is some useful data there as well - for example the moon cycles have some nice correlations with the market. Again USE WHAT WORKS FOR YOU
I agree. Hey, I had
Posted by timebandit on 10th of Jun 2022 at 08:41 am
I agree. Hey, I had my chart done by an astrologer 30 years ago and there was some really useful data there. In the hands of a seasoned practitioner, it provides a rational map. Not knocking it at all. This is just how I understand it.
I think you and Matt are seasoned practitioners of Elliott Wave, and I benefit from the useful data you provide, for sure
Well stated Kobie - best
Posted by steve on 10th of Jun 2022 at 08:28 am
Well stated Kobie - best used as a guide when quite obvious for those with considerable experience and only a small percentage overall when trading. Focus on the technicals first and consider cycle dates etc. Formulate an approach that works for you on your time frame.