# Elliott Waves... today



## MARKETWAVES (23 May 2005)

ELLIOTT   WAVES  TODAY ..........


  Today , the  art  of  tracing  out  Elliot  waves  has  been automated  and  being  used  and evaluated  by computer software ….most  of  the  programmers  themselves  are  not  Elliottians  so  to  speak , but  instead are  hired  to  simply  write  a  code , or  in  other words  create  software to automate  the  process  . This  is  being  done  to  make  finding potential  set-ups  faster and  easier . Well , we  have  all heard  the  saying, “ You  get  what  you  pay  for ” and  just  that’s   exactly  what  you get … 

  The  purpose  of  this  information is  to illustrate  that trading  the Elliot  Wave methodology is just  like  getting  a  tailor made  suit . The  reason why  it  fits  so  well  is  because the  tailor  has  acquired  a  skill . No computer  , or  software  can duplicate  this  hand made  skill.  The  reason  I  am  saying  this  is  because  it  is  the  same  with  becoming proficient  in  interpreting Elliott  Wave chart formations ..  It  is  an  acquired skill  through  observation  , time  and  human  behavior …

 So ,  if  you are  the  type of  person who  is  always  looking  for what’s  easier ,  then this  may  not  be  for  you . It  is  this  very  attitude  that’s   basis of  so  many  people  who  try  their  hand  at  Elliott  Wave  method ..   
  What  I  am about  to  show  you in  the  coming  pages  did  not  come  easy . 

Bottom  line , if  you  trade  Elliott  Waves theory in  an  automated  fashion , sure  it  has  some  advantages ,  and  it  looks  neat , but the  fact  is that  most fail  who  do  it  that  way fail. Again  just  like  a  tailor  understands your unique  body  form and  how  unique  it  is , It  is  the same  way  with  any   given market that  you  would  want  to  apply the  Elliott  Wave  method  to  .. it  has  a unique  history , and   formation …So understanding  this, that’s  why  it  is  so  important  to  look at  the  longer term  Weekly  and  Monthly  chart formations   before   applying  the  body of  an Elliot  Wave into a chart .

  Weekly  and  Monthy charts  are  more  significant  and  more  Important  than  the  Daily or  Intraday charts …  The main  reason why  this is  true  is  because all  the  market  noise is  in  the day charts and  the  intraday  charts ….  They   gap  up  or  down on    the  open  which  is  not  that apparent  on  longer  term  charts in comparison .  It  is  just  the  way  that  it  is ..

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  On  a  personal  note .....  I  am  being  asked  to  teach  what  has  been  given  to  me .... 
 Well , it  will  take  too  much  time  and  the  one  thing  i  know  is  that  we  don't  all  learn  at  the  same  pace ...   

   So ,  the  the  answer  is  yes ,   but  only  to  a  few .. 

  I  am  also  very  intrested in  trading  competitions... 
  reason  being ,  is  that there are  to  many  sketics  out there  that  look   at trading  methodolgies  and  call it  hind sight ..  

  Competitions  will  keep  teachers  of  trading stratergies  honest ,  through thier  track record ... you  better  believe  it ! 

 I  am  triying  to  get  the moderator  of  this  forum  to  set  up  what's  called  a  Webinar  where  everyone  registers  to  come  in   on  a  predetrmined time  in  the  future ... and  by  the way, not  only  for myself  to  teach  but  any  other  person  who  may  want  to  do  the  same  ...
   (teach ,  that  is  ...)

Setting  up a  webinar or  even  a  live  confrence  call  is  probably  the  best  way  to  do this  ..  I  really  dont  know  how  many  people would  register for  a  class ,  but  if  what  is  being  suggested  here please  contact  joe  the  moderator ...

            Market waves ..............


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## tech/a (23 May 2005)

*Re: Elliot  Waves  ..  today*

*Waves*

I dont know that its possible to pass on all that we know in a field.
Nor that all is really required.

Im sure that you like I have found pieces that are gems more than others.
Its these I feel people would be more interested in---rather than wading through much which is of little use (Yes I know thats a personal call).

As for Elliott perhaps just the structure of wave patterns and corrective moves rather than the construction of full Supercycles *could* be enough as an introduction.

Just thoughts.


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## doctorj (23 May 2005)

*Re: Elliot  Waves  ..  today*

Sounds great.

I've enjoyed the effort you've put into your charts and appreciate the lengths you've gone to inorder to make them viewable for us.

If you were to conduct this class, I would like to see it recorded and archieved so that people who come along later or who live in different timezones and are unable to make a session are able to benefit from it.  Thoughts?


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## DTM (23 May 2005)

*Re: Elliot  Waves  ..  today*

Count me in for the class.    

I've only just started looking at longer term charts, weekly and monthly and can see clearly the different waves.

I'm always very keen to learn more.  

Thanks MW for your time and knowledge.


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## slackjaw (22 July 2008)

good thoughts from doctorj. I am keen to learn all I can about this, whether by webinar or tutorial vid, either way would be a great idea


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