Wolfe Wave Again? Oh No!

[uasish]

Azax,
Excellent ,it gives you money.Stick to it.But that cant be best for all of us.
Nice lively discussion on Wolfe.

Asish

 

[Ajax]

Dear Uasish

To every one his own.....
There are hundreds of paths leading to same goal
As long as u get there , its fine

Nike (just do it)
Black Label ( keep walking)

regards

Ajax

 

[RSI]

Dear RSI

I am in market to make money & not for academics.
I believe in KISS strategy ( no oscillators OI etc etc ) . Pure price action.
Hence I look for patterns
Aban look liked Wolfe to me. and got in ( though not at rock bottom, I admit) , I followed my position with trailing SL, Ditto with Infy & others

I spotted H&S shoulders in GE Ship hrly chart - got into after piercing of neckline. Had I picked up Wolfe on daily chart earlier, my entry would have been around head area......

U cant be right all the time , hence importance of Initial SL & then trailing SL
cant be over emphasised

KISS (keep it simple sir)

Ajax

Dear Ajax,
Never feel bad about my post. I never intend to challenge anyone nor do I intend to hurt anybody's feelings. Recently, I have been reading a book on trading strategies, which in clear unmistakable terms stated that a trader should never ever over analyse the markets. If the pattern is visible and reassuring, trader should jump in to the trade with proper money management strategies. Very true. Got the point from your post as well, of course with a live example.

I am a novice in trading. There are many very experienced seniors in this forum (including yourself), who can really guide a novice like me. How does a novice proceed? First he will try to learn, that too basics properly. If one tries to trade the market without having proper foundation about basics, I think it will lead to disaster. That is why, whenever I see a chart which is slightly altered than whatever I have read or learned, I ask questions. This is only to clarify my doubts and to dig out more knowledge/information if anything is still left out. For example: Take Winston's thread on reliance capital. He was kind enough to admit that his call was wrong. That is a huge opportunity for novices like me to learn. Well, I expressed my feelings there. Karthik and Ashish came out and said that I am wrong, not only that they showed me as to why I am wrong. Indeed I was wrong. But all said and done, I learned a few lessons from Karthik and Asish there. Oxy also told some vital information there. This is how I think, I can do a practical training on whatever I have read or learned so far. If this forum is meant only to receive and dispense tips, tell me, what is the difference between this forum and other forums? So my request to you and all other senior members is not to feel offended or irritated whenever a novice like me asks questions.

Yes Sir, that's what I commented Since your name initials naturally form the RSI, maybe you could have some inborn RSI knowledge, joking sir, but really if you have do let us know

Hi czar,

That address as "sir" does not suit to me. At present I am learning. It may take some more time. I have learned a lot from this forum members. I owe a lot to this forum members. I shall repay my debts to this forum when I am capable of doing so. You see half baked knowledge is much more dangerous. That is why whenever, I am posting a comment, I try to post it with reasons so that reader shall analyse whether I am wrong or correct. If I am wrong, any one can openly say that I am wrong.
Regards
R. S. Iyer

 

[Venu_CA]

CV on Wolfe Wave.

"There is no need to learn the wolfe or elliott or any other bullshit wave if you plan to be a trader and I am not saying that out of ignorance either.Been there done that, can conclude that its all total bullshit.Seriously"

I just started learning Wolfe. Waste of Time ? Guide me.

Venu

 

[Linus]

CV on Wolfe Wave.

"There is no need to learn the wolfe or elliott or any other bullshit wave if you plan to be a trader and I am not saying that out of ignorance either.Been there done that, can conclude that its all total bullshit.Seriously"

I just started learning Wolfe. Waste of Time ? Guide me.

Venu

Talk to CV! On the lighter side, I can quote a post from CV, where he has said that EWT is good for people who understand how to use it! And now he is saying that it's all bullshit! There is some divergence here guys!

CV, nothing personal, and I admire your work and will always look up to you.

Regards,

ss

 

[hiteshdaga]

Now did we have a wolfewave in May 06 ????

Seniors ????? Help !!!!!

 

[RSI]

Now did we have a wolfewave in May 06 ????

Seniors ????? Help !!!!!

If you have any doubt, let me say that Ajax had called it to the perfection just days before topping out during May 2006. Search in this forum. There is a thread started by Ajax just before May 2006 crash warning that sensex is topping out. Spendid analysis by Ajax and it was a great call. I accidentally discovered this thread while going through old posts in this forum. That is why I have been asking questions with Ajax.
Regards
R. S. Iyer

 

[Ajax]

Hi all

The thread is " Sensex topping out?? "
I spotted the Wolfe wave on 10/5/06 on Nifty.
I even mailed the chart to Mr. Wolfe and asked his opinion.
He did respond but would not confirm it (Remember he charges
$3000 to teach Wolfe wave phenomenon)
And by 19th Nifty crashed by more than 500 points.

Winston has started a nice thread on How to idnetify Wolfe wave

or visit the master him self at " http://www.wolfewave.com "
Learn it thouroghly & try to visualise......

regards

Ajax

 

[karthikmarar]

Hi All

Nice to see so much interest generated on wolfe waves. Also a good thread on the same by our wolfe expert wolfton...er..I mean.. winston..

A word of caution here. Wolfe wave is just one more pattern and it is not the solution for all. It could be just one more arrow in your quiver.

Here what i see is everybody is hunting for this pattern and people start see patterns where nothing exists. It is intersting ..bvut..Just dont get addicted to one pattern.

Take care... happy trading

karthik

 

[winstonn]

Hi Karthik,

you are right! i see many member here are forcing wolfewaves in just points 1,3,5.
Patience and rules should be followed.

like the name wolfton

Regards,
Winston