My Forex Prediction using Advanced GET - page 80
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Forecasting is the one thing i personally never do , lets face reality here and the fact is there is no one in the world who can forecast with 100% certainty where the price is going to go , ( and i dont mean 100% accuracy, just with 100% certainty), all we can do is follow the principles of market movement as you say impulsive corrective ,or trend countertrend, there in lay the clues and confirmations as to the direction only and not how far the price will go.
MTF_ZIGZAG LMAO ,, come on do you seriously believe that i use that.
The lines on the chart i draw manualy , they come from my own personal method of wave trading which has absolutely nothing to do with ziggy.
Looks like the AUDJPY is going south ,what were your reasons for giving a buy opp, i was looking at the daily ,i can see the primary trend , but the last leg up is a single intermediate swing up ,would prefer to see a break of that top before going long or even after this intermediate correction a new intermediate swing up being formed with a minor trend.
bubbleNo offense! But it does look alike a mtf_zz.. Even if you do it by hand.
As for audjpy, it is the actual carry trade, I tought i called a bottom but apparently i didn't but the daily chart is obviously up, but it seems the 4hr still want to go down. I was bullish all week about gbp usd i was opening positions at every major resistance and finally i closed the week at a lost. As everyone here i just give a shot at predicting the trend and it's not always working.
No offense! But it does look alike a mtf_zz.. Even if you do it by hand. As for audjpy, it is the actual carry trade, I tought i called a bottom but apparently i didn't but the daily chart is obviously up, but it seems the 4hr still want to go down. I was bullish all week about gbp usd i was opening positions at every major resistance and finally i closed the week at a lost. As everyone here i just give a shot at predicting the trend and it's not always working.
Join your 12345 abc wxy s up and lets see if your chart look like zig zag all wave software is using zigzag algorithm with finonacci to calculate the waves,thats where my method differs no zig zag no fibonacci .
If you dont mind can i ask do you know how to confirm a bottom using wave theory or do you just follow the software blind?
bubble
Join your 12345 abc wxy s up and lets see if your chart look like zig zag all wave software is using zigzag algorithm with finonacci to calculate the waves,thats where my method differs no zig zag no fibonacci .
If you dont mind can i ask do you know how to confirm a bottom using wave theory or do you just follow the software blind?
bubbleMainly, i look for a daily trend, then look for retracement and price action at the .50, .618 or .786 or Channel TL of the last leg to buy a dip or sell a rally. But these rarely happen in my trading hours, i try to be an EOD trader with this method but often found myself paralyzed. What if it's still not the bottom, or not the top? I learned to take those risk. But no i am still not constant profitable trader, or i wouldn't be here. I experimented with Advance Get and Elwave, they seems to work for Kenneth. He does identify a direction with them tough. But i think he's just a natural great trader, able to get pips even counter-trend.
These software's are not so bad at labeling, they just have alternate views because they use different algorytm. Elwave use more wave degrees then Aget, and give trading signal, witch does work, sometimes... But how could a software predict almost pure chaos? How could anyone predict pure chaos? EW is just another avenue we're looking at in hope to found a respond to this question. If you'd be so sure about your own method you wouldn't be arguing here with us, You would just be silently doing millions in your living room laughing not daring to give us a glimpse of an idea how your doing it!
Meanwhile, couldn't you tell us, in more details what is your actual method to draw those wave? Is it discretionary? And how do you trade it? That would be ok, we are all interested to learn. Please!
Joe, Let me give you my 2 pence worth thought on this. I too was running from one software to the other, trying to get the one that gives the best count, till I realised that I am actually chasing the mirror. I decided then that I will go the source and learn how to do manual count. I have spent the last month and half doing that and it is incredibly rewarding. Now, I can see the charts generated by GET and at times say to myself 'No, that is not correct labelling by the software'. Developing a good EW software is a really difficult task. Best is to do it yourself. It is hard learning (I am spending a good 3-4 hours everyday), but confident in the fact that at the end of it, I would have learnt fishing and dont need the fish to be given to my by the software. I spent the entire money that I wanted to spend on a good software to buy their courses and every penny was worth it. So my sincere suggestion is to go to EWI and get their courses and books and start learning how to apply EW.
Do you subscribe to their Currency specialty service? I am looking everywhere on the net in hope to find their charts, the 200$/mo for basic daily eur$, $jpy and $index charts is still to much for me, but if i could found somebody to split the cost i would considerate it seriously. At least for a couple months, then if i found it profitable i would fully subscribe to it but for the moment it's out of my possibility.
Mainly, i look for a daily trend, then look for retracement and price action at the .50, .618 or .786 or Channel TL of the last leg to buy a dip or sell a rally. But these rarely happen in my trading hours, i try to be an EOD trader with this method but often found myself paralyzed. What if it's still not the bottom, or not the top? I learned to take those risk. But no i am still not constant profitable trader, or i wouldn't be here.
This is how you confirm a bottom/top? what kind of price action are you looking for around those fib levels? Why the paralysis ,even if after the retracement there are confirmation signs of a new leg beginning its still anyones guess if the price will continue in the original direction of the trend,however it is more common for the original trend to continue and you would have to be a bit unlucky to keep catching the b wave if the wave after the retrace turns into an abc correction ,there are good profits in b waves anyway as they move strongly in the original direction of the trend.
I experimented with Advance Get and Elwave, they seems to work for Kenneth. He does identify a direction with them tough. But i think he's just a natural great trader, able to get pips even counter-trend.
Do they really work for kenneth ? if we enter a retracement we do so anticipating the trend to continue and make a new high/low ,i rarely see this happening with kenneths trades ,instead he is picking of a few pips here and there ,it seems to me for fear of being wrong.
These software's are not so bad at labeling, they just have alternate views because they use different algorytm. Elwave use more wave degrees then Aget, and give trading signal, witch does work, sometimes... But how could a software predict almost pure chaos? How could anyone predict pure chaos? EW is just another avenue we're looking at in hope to found a respond to this question. If you'd be so sure about your own method you wouldn't be arguing here with us, You would just be silently doing millions in your living room laughing not daring to give us a glimpse of an idea how your doing it!
If elwave or get were as good as they say they are they would not be selling them for $3000 dollars a time , they would be quietly sitting in their lounges laughing at us while making millions trading not daring to share their secrets ,although i suspect they may well be sitting in their millionaire mansions laughing at all the people that pay for their software that makes them rich.(sorry for the sarcasm but i think you deserved it)
We are sharing experiences here , i do not view this as an argument ,im sorry if you do , if you truely believe that chaos exists in the markets then you should really not be trading elliott wave , i really think the biggest problem here is the expectation here to switch get or elwave on, look at a label that says "next wave up impulse" "exit @1.168 fibo " hey presto money in the bank. Im sorry to say thats not how these programs work.
I made a study of elliott waves for 4 years and believe me most of it is nonsense , the one thing that is consistent is the wave within waves concept , understand that fully and your on your way to becoming a good trader.
RN Elliott was repeatedly asked not to release his findings to the general public, i believe the version he did eventually release was made to be so complicated that it would really be difficult for most to decipher , in honesty i think the point he was trying to get across was the waves within waves concept which has stood the test of time.
Meanwhile, couldn't you tell us, in more details what is your actual method to draw those wave? Is it discretionary? And how do you trade it? That would be ok, we are all interested to learn. Please!I am not interested in showing anyone how i draw the waves , but i can show you how to trade them if you are interested , i was trying to get hold of the elwave program to see if i could help you guys but there is no way im paying $3k for it.
You could start off by using your elwave or get to learn about the waves within waves concept fully , i will give you and example ,
Daily showing primary uptrend , remember primary up trend is actually a sequence of intermediate wave higher highs ,higher lows which in turn can be part of a cycle wave or cycle up trend which is the next degree up,now each one of the intermediate waves should subdivide into thier own trend of minor waves , when the intermediate wave makes a minor retracement this is an opportunity to enter into the intermediate wave , for your purposes you would need to either switch on a lower wave degree which i believe is minute as the minor wave is composed of minute waves ,as soon as you see a 1 up a 2 down(minute waves) place your entry at the top of wave 1 or a few pips higher ,be prepared for a retest of the low of wave 2 as this trend break wave could be a subdividing wave 3 within its own structure.
Elwave and get show you the internal stucture of a wave all on one timeframe , i manually search for the structure of each wave at three degrees only , so when the software labels a primary with a minor and minute infrastructure as an example it is simply looking at the lower timeframe waves searching for waves that fit elliotts time and price principles.
bubble
I forgot to add that there is a lot of benefit to switching timeframes to confirm waves , eg i was talking about the minor retrace during the intermediate wave , the minor retrace wave becomes intermediate on a lower degree so if the trend is going to continue you will see a new intermediate here beginning with a 123 minor.
Please consider this :
There are many indicators on standard trading flatform such as MT4 and others. That indicators are build by the master of this area, such as Bill William, Larry William, Appled, Elders.. etc... They become a milionary and billionary with that indicators, why... because they master it and have good money management and good mental. Such as Larry William, from US.10.000,- in 12 month become US.1.470.000,- (real money).
Why should you create another indicators, just master it and combine it with your inner sources. Don't wasting time.... The "the holy grail" is not anywhere... it is in you.I came to the conclusion that Elliott Wave Principles give me greater headache to learn. I am going back to the basic indicators like what evmeida_id said.
Thanks any way, gentlemen, for the help you have given to readers like me.