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Prompted by this initial enquiry and as I have owned the software for sometime I thought Id open this thread. Firstly I'll answer the initial questions from my view point.
Advanced Get Elliott Wave analysis software discussion thread
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tech/a
No Ordinary Duck
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Re: Advanced Get Elliot Wave Analysis software Discussion Thread.
Prompted by this initial enquiry and as I have owned the software for sometime I thought Id open this thread. Firstly I'll answer the initial questions from my view point.
There are various settings for the plotting of waves. One must realise that the waves are plotted using an number of algorithms which have a look back of only 300 periods.As such the counts wont at all times be "Ideal" or "correct" to those who are purists. You can alter the wave counts by altering in the drop down menu periodicy. There has been much discussion over the years as to how much this has as a detrimental affect on trading. Initially I didn't like the idea. However as Ive had more discussion with Elliott users, Don't find it is detrimental. Wave counts at the right hand edge are Dynamic (Frank I know disagrees). As the counts are proven or dis-proven they alter on the chart,now whether this is done by the practitioner or the practitioner as the chart develops---doesn't matter to me as its a nuece of the analysis. Something that all new Elliott Wave students have a great deal of trouble with. Once understood the analysis loses a lot of its mystification and frustration.
Yes a handy tool.
I don't use this feature myself. This is serious software and like any of this calibre learning and most of all applying the software to the best of its capabilities is often limited by the user. There are a great many features of this powerful software I do not utilize or in fact have investigated.
Type 1 buy
Type 1 sell
End of Wave 4's looking for wave 5's
Type 2 Buy
Type 2 sell
End of wave 5's looking for Wave 1's
XTL Buy with trend
XTL Sell with trend
Looking to hop on Wave 3's and join the ride.
At $3900 ish and another $1500 or so to upgrade to R/T I think its good value for those who have a need for speed. Like myself.
I think it deserves the raps.
This in itself is a tremendously important topic and NOT just related to AGET but to all software with proprietary indicators.I'll spend a little time on this topic.
It never ceases to amaze me how many ways a chart and its constituents (Range,open,close,volume,open interest) are formed into analysis tools to study one thing.
CROWD BEHAVIOUR. when you boil it down this is what your left with--crowd behavioral analysis. There are literally 1000s of us looking at this on a daily basis.
Knowing the structure of a tool of analysis is very helpful,even if only psychologically,we can reason with the analysis and see if it holds true to our own concepts---often INITIALLY it doesn't.
I often pull apart indicators or triggers and reverse engineer---re invent the wheel if you like--.
What I find is a wealth of amazing NEW ways people look at the same thing. In doing so I see other opportunities which they may have touched on yet never fully investigated. I have discovered 4 things only recently which are not now used in analysis as a tool to any great extent--and have come to light ONLY because others have paved the way with analysis which threw these ideas to light---in my mind at least--un important or brushed over in theirs.
So yes it is nice to know HOW an indicator is constructed or at least an understanding if not the holy grail (Exact formula). In AGET'S case I don't think its required,the stochastic is only one of a number of tools used with the false bar being implemented to minimise the idiot factor in usage---you don't sell on a stochastic in an up trend or buy in a down trend. Of course there will be ONE instance in which this will be in correct and many which are correct.
So its important whilst using ANY indicator known or not that you have your own trading management in place. I can happily sit on a plane and enjoy the ride without knowing how to fly it!
Just poor marketing.
Possibly, I do the same when supplying testimonials to my clients. I want happy people to tell the world.
Just like how often do signals succeed, its a question which in all reality cant have a definitive answer. There is no doubt the WILL fail and no doubt the WONT fail. How I trade a chart with the exact same signals may well see one of us succeeding and the other failing. Although we would like an answer and there is one educator I know of who supplies it through real time continuous trading (Radge). Its not something I've ever seen implemented by anything else. Lets face it we are happy to see success but very quickly dismiss failure!!.
Frankly I like to see how exponents handle (I wont call it failure as its not) periods of draw down.
I want to know how to survive and also like to see that when I think things are Crap---others are suffering just the same! How do they handle it---how will I handle these times?
Id live to see long term real time trading by every software maker and educator I come in touch with---unfortunately its not going to happen--Tradeguider do however have live trading sessions.
Any serious Analysts would have seen WHY the false bar was wrong.
It will ALWAYS be wrong at the change of trend. But that's NOT why its there. Its for all the other times dumbos try and use a signal which will get them on the wrong side of the trade as they simply wont understand how it should be applied. The educator in this instance would have been hard pressed explaining the above to a live audience!--lets face it!
This is why supportive analysis and AGET has much to offer should always be used in conjunction with singular analysis techniques.
Hope this is helpfull and my own personal views.
Happy to continue discussion on any specific aspects.
Prompted by this initial enquiry and as I have owned the software for sometime I thought Id open this thread. Firstly I'll answer the initial questions from my view point.
There are various settings for the plotting of waves. One must realise that the waves are plotted using an number of algorithms which have a look back of only 300 periods.As such the counts wont at all times be "Ideal" or "correct" to those who are purists. You can alter the wave counts by altering in the drop down menu periodicy. There has been much discussion over the years as to how much this has as a detrimental affect on trading. Initially I didn't like the idea. However as Ive had more discussion with Elliott users, Don't find it is detrimental. Wave counts at the right hand edge are Dynamic (Frank I know disagrees). As the counts are proven or dis-proven they alter on the chart,now whether this is done by the practitioner or the practitioner as the chart develops---doesn't matter to me as its a nuece of the analysis. Something that all new Elliott Wave students have a great deal of trouble with. Once understood the analysis loses a lot of its mystification and frustration.
Yes a handy tool.
I don't use this feature myself. This is serious software and like any of this calibre learning and most of all applying the software to the best of its capabilities is often limited by the user. There are a great many features of this powerful software I do not utilize or in fact have investigated.
There are the following in built trading methodologies with clear trading rules for the Chartist to utilize.
Type 1 buy
Type 1 sell
End of Wave 4's looking for wave 5's
Type 2 Buy
Type 2 sell
End of wave 5's looking for Wave 1's
XTL Buy with trend
XTL Sell with trend
Looking to hop on Wave 3's and join the ride.
At $3900 ish and another $1500 or so to upgrade to R/T I think its good value for those who have a need for speed. Like myself.
I think it deserves the raps.
This in itself is a tremendously important topic and NOT just related to AGET but to all software with proprietary indicators.I'll spend a little time on this topic.
It never ceases to amaze me how many ways a chart and its constituents (Range,open,close,volume,open interest) are formed into analysis tools to study one thing.
CROWD BEHAVIOUR. when you boil it down this is what your left with--crowd behavioral analysis. There are literally 1000s of us looking at this on a daily basis.
Knowing the structure of a tool of analysis is very helpful,even if only psychologically,we can reason with the analysis and see if it holds true to our own concepts---often INITIALLY it doesn't.
I often pull apart indicators or triggers and reverse engineer---re invent the wheel if you like--.
What I find is a wealth of amazing NEW ways people look at the same thing. In doing so I see other opportunities which they may have touched on yet never fully investigated. I have discovered 4 things only recently which are not now used in analysis as a tool to any great extent--and have come to light ONLY because others have paved the way with analysis which threw these ideas to light---in my mind at least--un important or brushed over in theirs.
So yes it is nice to know HOW an indicator is constructed or at least an understanding if not the holy grail (Exact formula). In AGET'S case I don't think its required,the stochastic is only one of a number of tools used with the false bar being implemented to minimise the idiot factor in usage---you don't sell on a stochastic in an up trend or buy in a down trend. Of course there will be ONE instance in which this will be in correct and many which are correct.
So its important whilst using ANY indicator known or not that you have your own trading management in place. I can happily sit on a plane and enjoy the ride without knowing how to fly it!
Just poor marketing.
Possibly, I do the same when supplying testimonials to my clients. I want happy people to tell the world.
Just like how often do signals succeed, its a question which in all reality cant have a definitive answer. There is no doubt the WILL fail and no doubt the WONT fail. How I trade a chart with the exact same signals may well see one of us succeeding and the other failing. Although we would like an answer and there is one educator I know of who supplies it through real time continuous trading (Radge). Its not something I've ever seen implemented by anything else. Lets face it we are happy to see success but very quickly dismiss failure!!.
Frankly I like to see how exponents handle (I wont call it failure as its not) periods of draw down.
I want to know how to survive and also like to see that when I think things are Crap---others are suffering just the same! How do they handle it---how will I handle these times?
Id live to see long term real time trading by every software maker and educator I come in touch with---unfortunately its not going to happen--Tradeguider do however have live trading sessions.
Any serious Analysts would have seen WHY the false bar was wrong.
It will ALWAYS be wrong at the change of trend. But that's NOT why its there. Its for all the other times dumbos try and use a signal which will get them on the wrong side of the trade as they simply wont understand how it should be applied. The educator in this instance would have been hard pressed explaining the above to a live audience!--lets face it!
This is why supportive analysis and AGET has much to offer should always be used in conjunction with singular analysis techniques.
Hope this is helpfull and my own personal views.
Happy to continue discussion on any specific aspects.
tech/a
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Re: Advanced Get Elliot Wave analysis software discussion thread
This is Cisco Systems and some Stochastic False bar
analysis. This I hope clarifies the "Failure" scenario which will be seen.
Click to enlarge chart.
There are other confirming analysis which would certainly help the analyst see chart 2 Bit of Volume analysis thrown in.
This is Cisco Systems and some Stochastic False bar
analysis. This I hope clarifies the "Failure" scenario which will be seen.
Click to enlarge chart.
There are other confirming analysis which would certainly help the analyst see chart 2 Bit of Volume analysis thrown in.
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Re: Advanced Get Elliot Wave analysis software discussion thread
So very easy to say and Id agree that this is all very easy to see in hindsite.
So lets see what we would have seen back when these two major signals were produced. We can place a tight stop at the low of (2) incase all falls to soup! This can and is done using the AGET training mode.
Thats the GREEN bar toggle at the top of screen.
So very easy to say and Id agree that this is all very easy to see in hindsite.
So lets see what we would have seen back when these two major signals were produced. We can place a tight stop at the low of (2) incase all falls to soup! This can and is done using the AGET training mode.
Thats the GREEN bar toggle at the top of screen.
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tech/a
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tech/a
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Timmy
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Re: Advanced Get Elliot Wave analysis software discussion thread
Wow - great input, thanks for all the work on this tech. I am not a fan of EW, but love how you combine it with VSA stuff.
Wow - great input, thanks for all the work on this tech. I am not a fan of EW, but love how you combine it with VSA stuff.
tech/a
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Re: Advanced Get Elliot Wave analysis software discussion thread
Thanks Timmy.
This is a good blog to look into from time to time for Advanced Get users.
http://www.agetblog.com/tradingtechniques/2009/02/playing-with-speed-fas.html#more
Thanks Timmy.
This is a good blog to look into from time to time for Advanced Get users.
http://www.agetblog.com/tradingtechniques/2009/02/playing-with-speed-fas.html#more
tech/a
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Re: Advanced Get Elliot Wave analysis software discussion thread
Just did a search on the usual canned searches.
The only one which looked good was a type one sell RIO.
thought this would be an interesting exercise.
Looking at the daily AND Weekly charts they concur.
However there is background buying and strength so no real reason to short this yet,if infact it does show a sell signal.
The point of the search is to find prospects.
So We will keep an eye on this. Looking for a strong sign of weakness before hypothetically taking a position.
Just did a search on the usual canned searches.
The only one which looked good was a type one sell RIO.
thought this would be an interesting exercise.
Looking at the daily AND Weekly charts they concur.
However there is background buying and strength so no real reason to short this yet,if infact it does show a sell signal.
The point of the search is to find prospects.
So We will keep an eye on this. Looking for a strong sign of weakness before hypothetically taking a position.
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Re: Advanced Get Elliot Wave analysis software discussion thread
I find this an interesting observation as this trade could well be setting up.
If each up bar was truely solid buying you would expect the next bar to reflect that demand.
It doesnt.
Will be interesting to see how this plays out. If we see a clear sign of weakness---as anticipated in the analysis.
I find this an interesting observation as this trade could well be setting up.
If each up bar was truely solid buying you would expect the next bar to reflect that demand.
It doesnt.
Will be interesting to see how this plays out. If we see a clear sign of weakness---as anticipated in the analysis.
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Re: Advanced Get Elliot Wave analysis software discussion thread
Update.
Think this is getting close. Im also looking at supportive analysis but wont bring it into this thread. Other than to say It was a short today on a 120 min chart (not AGET). However the daily still needs in my view a last exhaustive move above these highs on volume. The last 4 days including what appears to be a strong up day has been selling. This "Could" have been the exhaustive sell bar!
Update.
Think this is getting close. Im also looking at supportive analysis but wont bring it into this thread. Other than to say It was a short today on a 120 min chart (not AGET). However the daily still needs in my view a last exhaustive move above these highs on volume. The last 4 days including what appears to be a strong up day has been selling. This "Could" have been the exhaustive sell bar!
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Re: Advanced Get Elliot Wave analysis software discussion thread
Here is the supportive analysis.
Now looks like the price has gapped well lower than the distribution at the top effectively locking those with poor positions at this level. I now expect the wave 5 to eventually play out. I'll leave it there unless there are other questions that I can help with AGET software.
This is a 120 min chart (Tradeguider )
Here is the supportive analysis.
Now looks like the price has gapped well lower than the distribution at the top effectively locking those with poor positions at this level. I now expect the wave 5 to eventually play out. I'll leave it there unless there are other questions that I can help with AGET software.
This is a 120 min chart (Tradeguider )
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Re: Advanced Get Elliot Wave analysis software discussion thread
That's great tech, an excellent start for the thread that will spur much comment and provide insight to many (self included) I'm sure.
I can see how the false bar could indeed be a trap if one was to rely primarily on that. This is the danger in selling a "system" to newbies. There's obviously so much more analysis under the hood that you can draw on to support your views. This is kind of like putting a young L-plate learner driver in a Ferrari - in the hands of an experienced driver the car will pur along like a kitten and be a joy to drive and aid his/her every turn - but the poor old L-plater could likely wipe him/her self out on the first bend... and/or put them off driving forever! This is what happens to so many. Maybe "Ferrari's" should only be sold to people who can provide proof of a successful "driving(trading)" record?
For my part, I have much to learn so I'll trawl through your generous offerings here again and through other like pages on ASF. Thanks for spending so much time and effort on this. It's been a great help.
PS: I might end up getting a Ferrari one day, but for now, I think I'll have to be content plodding along on my scooter. Something about "the journey, not the destination" springs to mind...
That's great tech, an excellent start for the thread that will spur much comment and provide insight to many (self included) I'm sure.
I can see how the false bar could indeed be a trap if one was to rely primarily on that. This is the danger in selling a "system" to newbies. There's obviously so much more analysis under the hood that you can draw on to support your views. This is kind of like putting a young L-plate learner driver in a Ferrari - in the hands of an experienced driver the car will pur along like a kitten and be a joy to drive and aid his/her every turn - but the poor old L-plater could likely wipe him/her self out on the first bend... and/or put them off driving forever! This is what happens to so many. Maybe "Ferrari's" should only be sold to people who can provide proof of a successful "driving(trading)" record?
For my part, I have much to learn so I'll trawl through your generous offerings here again and through other like pages on ASF. Thanks for spending so much time and effort on this. It's been a great help.
PS: I might end up getting a Ferrari one day, but for now, I think I'll have to be content plodding along on my scooter. Something about "the journey, not the destination" springs to mind...
tech/a
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RIO
Update
RIO has shown excellent resilience Has now made a Triple top. Volume has been fair.
While it certainly looked as if the gap down on open yesterday may have trapped buyers at high prices it has been bid back up to old highs without much resistance from sellers.
That final gasp extreme volume sell off hasnt yet been seen,so have been premature in the initial analysis,and bearish.
Price rising through resistance on good range and fair volume will be quite bullish.
Update
RIO has shown excellent resilience Has now made a Triple top. Volume has been fair.
While it certainly looked as if the gap down on open yesterday may have trapped buyers at high prices it has been bid back up to old highs without much resistance from sellers.
That final gasp extreme volume sell off hasnt yet been seen,so have been premature in the initial analysis,and bearish.
Price rising through resistance on good range and fair volume will be quite bullish.
tech/a
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Re: Advanced Get Elliot Wave analysis software discussion thread
Top has held and we see another gap down trapping punters once more.
A final up move on very low volume would spell no demand and see this fall quickly.
Closed below immediate support today so very weak.
Click to enlarge.
Top has held and we see another gap down trapping punters once more.
A final up move on very low volume would spell no demand and see this fall quickly.
Closed below immediate support today so very weak.
Click to enlarge.
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