a trading strategy based on Elliott Wave Theory - page 249

2 solandr

SarkeeV, thought I'd clarify my opinion on EWT and coins, you'll probably get the wrong idea as I doubt you've read it all. During my practice, I have not become a professional EWT-nik, this must be taken into account, as well as the fact that this is my own opinion and not a call to argue.

So, a bit of the most lucid philosophy. A hammer is an excellent tool, excellent, but only for hammering nails, while, say, unscrewing a nut with it would be difficult, for that a spanner would be desirable. This simple experience leads to a simple idea that the tool should be used for its intended purpose.

So, the EWT is not correctly applied to prices, looking for similar "pictures" in the BOOK->needed!!! "drawings", but to the behaviour of the "crowd", in other words to the players. It is necessary to look at the numbers, and to feel the crowd (which they do not teach in books), that I have not managed to achieve either by drinking, or meditation, let alone by reading books on EWT :o) If psychology of a crowd is not taken into account, it is just like a coin flip, but with more complicated conditions of "found out"/ "made a mistake" experiment.

A vivid confirmation of this is the winwave32 program (as one example). Even with minimal settings, the area of proposed waveforms is counted in thousands and all you have to do is either psychoanalyze the crowd with, say, Freud's method or .... flip a coin. :о)

And as for links to real trades, I personally have had enough of Alieh's stats. I've always said that his results inspire me. :о)))

Yurixx, hello! I said from the first contact that I respect, truly respect, people on this thread. And my goal was not to make a statement. I just wanted to ask Alexei the questions that really interest me. And frankly speaking, I don't like people who are too self-confident and trying to prove it to everyone by acting as referees or judges. Didn't mean to upset anyone here or be rude to anyone. And the real account is not mine. It's just an interesting trade: who and how I don't know.



Are you always so sure that the words you say will definitely hurt someone or not? Are you so sure of yourself?
So you haven't unintentionally upset anyone in this life?

OK, this is all turning into a useless debate, which is not really what you want. Competing in wit is interesting, but again, a futile exercise.
Good luck and all the best!
And don't hold it against me :)

SarkeeV which currency pair are you talking about ? What period are you looking at? This is important.

I gave the link to the book because I think it has a lot of interesting and useful
to develop. Believe me, you cannot get hung up on Elliot waves alone.

Honestly, I do not use the Rules from the book, because not all of them work in practice :(
I develop my own trading strategy :)

The authors, who describe their strategies and theories in various
books, earn money not from Forex, but from selling books. :))) It's obvious :)
No author will lay out his strategy if it actually
makes any profit :)

You ' re right wave theory is not a panacea :)))
There may be more profitable strategies out there, you can't
get hung up on it.
But in order to build a strategy we need theory, and for the basis,
i.e. as a foundation i chose Elliot waves.

If the strategy does not bring at least
any profit during at least one month of trading, I discard it and continue searching.
Sooner or later you will get the desired result :)))
Who seeks, always finds :0)
The main criterion of a strategy is profitability :))) the rest is not that important.





Why use incomprehensible programmes that give out thousands of forecast variants?
Why don't you make your own, inimitable one that will produce the only correct version :))).

to Alex Niroba



I'm not using it, I've just took some nice rules from it (I think I wrote about "my wave theory" earlier :o).

So, we all create our own ones here, depending on time and inspiration. :о)

Does this topic somehow overlap with Pastukhov's thesis (way of building a Zigzag) - http://forexsystems.ru/phpBB/viewtopic.php?t=1036?

Rosh, I don't quite understand the question. We are just discussing Pastukhov's thesis. Or more precisely, the practical implementation of strategies that follow from it. However, the way the zigzag is constructed has very indirect relevance to this thesis. Kagi construction defines the zigzag unambiguously and contains only one parameter. Renko construction relies on the same parameter, but allows variation of the starting point.

The link above uses the standard meta-quote zigzag, with three parameters. But the findings shared by Phantom$ are essentially similar to Pastukhov's ideas. The only difference is that Phantom$ looks at it as a trader and Pastukhov looks at it as a mathematician. Phantom$ wonders "is it not a pattern?" and Pastukhov proves theorems.

:0)

It's about the fact that all past attempts to shift the conversation to VTE have proven
have proven to be futile. For some reason, people want to flub off-topic. :)