Page 83, First Edition. He does not speak much about MFI, EW in the secomd edition.
As Linuxser points out...BW doesn't trade forex. I spoke to Justine two yrs ago and that is what she said to me.
Their website also has(had) a kind of 'disclaimer' saying the strategies work best for equities.
(I therefore find it strange that some of the charts in his books pertain to forex. Go figure...??)
I could sit here and harp on about why I hate his models and why they don't apply in this environment (in a word 'late') but I won't because I personally like his books. At the very least they get to the core of what trading is all about: disseminating information.....tearing down old models and building new ones and if you can get past some of the rhetoric he makes sense.
At the end of the day it's all in the eye of the beholder anyway.
I am not sure what the statement that so and so does not trade Forex has to do with the quality of the material that one gothers and choose to imply in trading.
Larry Williams, Joe Dinapoli, Tom Demark, Joe Ross, Linda Rashke (and the list goes on and on) do not trade Forex but many people have read them and might have chosen to apply it in their Forex trading.
I recently read a book by Victor Niederhoffer, "The Education Of A Speculator". Victor is a famous trader who traded for Soros and trades currencies. I am sure he is not as popular since he is not offering any systeme or/and indicators. But nevertheless his book is one of the greates one could read and it does not matter that he was trading currencies rather than options. He claimed in his book that he never read a a trading book that less than 100 years old.
It is really up to us to find how to educate ourselves, find the profitable method/indicators/systems, and intetrnalize it.
Justine is his daughter. Her point (and mine) is different environments=different tactics....
...My point. Cheers
Right... Then by the very same logic, every technical author whoever wrote a book and not traded in Forex deserves the same scruttiny. Also add your favorite indicators that came from stock markets.
Not trying to defend BW or his system or his indicators, Just having issues how some choose to focus or zoom in on relevant items.
Whether his daughter or/and BW have traded their system in Forex do not serve better or value of their system/indicators than other authors mentioned above. For example, Joe Ross openly dissencourages to trade Forex but has that made his price patterns less attractive to some of the traders who have used them profitably in Forex?
Agree with you. enough said... Regards
Yes, I would agree.
As I've said twice in this thread:- I like BW's psychology...not his technical models. There is a qualitative difference.