Elliott Wave Theory

[amarnath]

Hi Traderji,

I agree with you 50% regarding there is no prefect tool to predict future direction of market as a forex trader i feel it trading only need a combination of trend following methodologies and a S & R system but can you shed some light on Gann methods I am still newbie to EW and Time <> price concept's that Gann used

 

[geominnet]

yes,i do use advanced get
my advise is in three steps
1. avoid reading Pretcher and types
2. go for books written by Robert Beckman & Glenn Neely.
3. first work out on simple hand made graphs,preferrably 2mm.on longest time frame available (say 100 years of Dow chart)
(will be difficult but then it's worth trying)
(also concentrate on trendlines)
happy trading

 

[debrajpaul]

I Wanna Have Advanced Get Eod Can Anybody Suggest A Price

 

[Anil]

I Wanna Have Advanced Get Eod Can Anybody Suggest A Price

You will have to contact viratechindia.com

 

[yoda]

I have found much success trading with Elliott Wave theory, but have a hard time gettiing good info on it that is reliable.

I have found 2 good sites so far that cover teh forex markets really well:

www.capitalcurrencymarkets.com
www.elliottwave.com

They seem to be reliable.

yoda

 

[v_k_b]

Just happened to notice this pretty old and interesting thread.

My personal opinion is that Elliott Wave Analysis can indeed be used on indices like the NIFTY and am making an attempt towards this on my website www.elliottwaveanalyst.com

Comments/suggestions/feedback most welcome.

 

[shahv]

hello
from where i can free download advanced get 9

 

[JahDave]

Market price movement is highly random with a trend component.

Unsuccessful and frustrated traders want to believe there is an order to the markets. They think prices move in systematic ways (Elliott Waves) that are highly disguised. They want to believe they can somehow acquire the "secret" to the price system that will give them an advantage. They think successful trading will result from highly effective methods of predicting future price direction. They have been falling for sureshot methods and systems since the beginning of civilization (or when markets started trading).

Those who try to anticipate changes in trend rather than follow establish trends are doomed to failure.

Frustrated traders are constantly looking for some secret that successful traders use to make money. The only secret is that there is no secret.

The truth is that the markets are not predictable except in the most general way. Luckily, successful trading does not require effective prediction mechanisms. Successful trading involves following trends in whatever time frame you choose. The trend is your edge. If you follow trends with proper money management methods and good market selection, you will make money in the long run. Good market selection refers to selecting good trending markets generally rather than selecting a particular situation likely to result in an immediate trend.

There are two related problems for most traders. The first is following a good method with enough consistency to have a statistical edge. The second is following the method long enough for the edge to manifest itself.

I beg to differ Friend.........Elliott Wave Theory is manifested in nature itself.................Even Ralph Nelson Elliott said that this theory is grounded in the Fibbonacci sequence. Human behavior is predictable and therefore is repedative..................The markets may not be predictive exactly, but they are easy to predict generally................

Regards,
JahDave

 

[gb333]

Hi Friends,,
I am currently studying elliot wave theory. I have draw a elliot wave in the chart. Is it correct.
Kindly help me.

Here is the image -

 

[Smart_trade]

Hi Friends,,
I am currently studying elliot wave theory. I have draw a elliot wave in the chart. Is it correct.
Kindly help me.

Here is the image -

I am afraid that the waves markings done by you are not correct. Here wave 3 appears to be the shortest of wave 1 ,3 and 5 which is disallowed in Elliot Wave. The most important principles in EW theory ( which many times guide us to correct waves marking ) are as under :

1) Wave 3 can never be the shortest in an impulse sequence of 5 waves.

2) Wave 1 and wave 4 should never overlap.

There are other rules of 1-2 trendline, 2-4 trendline etc but the above two rules are the cardinal principles of EW Theory. In your chart, 0-2 trendline is not clean....wave 4 cuts this trendline which is never allowed till wave 5 gets over.

There is no extension in any wave.....also wave 2 and 4 do not have alternation....which is required.

Smart_trade