Practical Elliott Wave Trading

[Nick Radge]

Thanks Frank - I am not interested in your opinion.

 

[beamstas]

Nick,

If this is practical Elliot wave then it’s ambiguous at best.

Take CBA as an example.

You don’t know C is a wave until price moves away from C, as it isn’t
hard-coded into the methodology. As most EW traders could, would, or
might not have done the same thing

You’ve reacted to the price action and are trading the price action
rather than using EW to make any entry decision.

Your entry isn’t based on EW, but rather price action, and now your
potential target is based on a fibonacci extension pattern.

In my opinion you’ve just applied different strategies to trade CBA, but
then optimized Elliot wave into the equation afterwards

Which makes much more sense to me, and illustrates why EW is
constantly lagging and being optimized afterwards.

Then the question begs, why would you use EW in the first place if you
are relying on other variables to make trading decisions based on entry.

You might as well just find set-ups in the market, optimize your
entry strategies and apply fibonacci extensions techniques, instead
of constantly curve fitting EW.

It would be make much more sense in saying... "I use certain trading
set-ups that are unique to myself and some others, and then I optimize
my trading using Elliot wave afterwards:- Practical Trading"

This is why EW is illusory to the majority because each entry taken is unique the individual trader and then curve fitted to suit the methodology, resulting in different counts and wave structures and confusion based on an individuals interpretation of the trend…..

Or in your case the trade.

I'll try answer this for you frank...

EW doesn't make the money. EW can be used simply to confirm a position, and when being applied to a position it can give you a specific target and a point where you are wrong and it's time to exit.
It can also help you to determine when a wave of price action is ending so your stops can be tightened and you can be alert for any reversals in the price action.

Thanks
Brad

 

[Bobby]

This is why EW is illusory to the majority because each entry taken is unique the individual trader and then curve fitted to suit the methodology, resulting in different counts and wave structures and confusion based on an individuals interpretation of the trend…..

.

Frank ,
Thats why I have moved on from EW , Interpretation , seems No two experts or the rest of us can come up with the same count ??

 

[CanOz]

Frank ,
Thats why I have moved on from EW , Interpretation , seems No two experts or the rest of us can come up with the same count ??

You know, almost everyday i check out Franks Thread, with interest. I am amazed at how uncluttered it is, no C**kh**ds to clutter it up. Lets him present his methods quite clearly. Even i can start to catch on a little.

It would be polite to let Nick have the same stage.

But alas, not to be.

CanOz

 

[Bobby]

It would be polite to let Nick have the same stage.

But alas, not to be.

CanOz

Thats a bit rough
Lets see what scintillating analysis comes up ```````

Imbue me please.

 

[tech/a]

Well done people youve just stuffed up another thread.

You've been given the opportunity to learn from one of the true educators in this country,who has offered his teachings here for gratis.

Your inability to grasp the analysis and in particular its application is WHY Radge started the thread in the first place.

The guys education has made me a lot of $$s----Around $6500 on CBA in the last few days alone.
Best you PAY for the education in my view just like I do!

 

[johenmo]

Well done people youve just stuffed up another thread.

Looks that way.

A lot of you have forgotten more than I have learned. And I recall many posts saying that there is no "one true way" - I have to develop my own system, expectancy, etc etc.. Most importantly I read 2 things over and over again
1)what works for one person won't necessarily work for another, and
2) there is no holy grail.

Therefore, using some logic, just as there are supporters, there are detractors. If I don't use EW doesn't mean it's wrong. Maybe there is better, maybe not.

I'd like to hear how EW works, from Nick's view/experience. If upsets you, then stay out of the thread. It's conceptual thing. If I want Nick's power setups, then I have to be prepared to pay for it.

Have a great day...

 

[nunthewiser]

well bugga me !

no place for preciousness and emotion in the market i heard


post or dont post just dont bloody whine about it ........ happy to hear ppls views , happy to question them views , this is a public forum .

i had my say ... it was sorted respectfully and had no arguments

frank had his say and personally actually agreed with some of his points

if questioning OR disagreement with some analysis is gunna stop ppl from posting on there OWN thread ........all i can say is harden the fark up!

no offense intended but geeeez im grateful for ALL viewpoints , if all viewpoints / questioning not accepted whats the point of posting in the first place.

.dare say this will cause an uproar as im not here fluffing the OP also but geez guys im grateful for his contributions BUT am also grateful if ppl question the anylasis also

 

[Cartman]

well bugga me !

no place for preciousness and emotion in the market i heard


post or dont post just dont bloody whine about it ........ happy to hear ppls views , happy to question them views , this is a public forum .

i had my say ... it was sorted respectfully and had no arguments

frank had his say and personally actually agreed with some of his points

if questioning OR disagreement with some analysis is gunna stop ppl from posting on there OWN thread ........all i can say is harden the fark up!

no offense intended but geeeez im grateful for ALL viewpoints , if all viewpoints / questioning not accepted whats the point of posting in the first place.

.dare say this will cause an uproar as im not here fluffing the OP also but geez guys im grateful for his contributions BUT am also grateful if ppl question the anylasis also

:iagree:

exactly Nun ---- i notice people give u a bit of stick around here ----- they'd do well to actually take the time to comprehend what u say a lot of the time before kicking their own egos into overdrive ---

Re this thread -----if its annoying ppl so much Y dont the Mods give Nick a locked thread for his personal analysis ---- and any banter related to the analysis could be done in a complimentary thread ---

personally im with Nun --- one in all in ---

 

[Vito]

Hi All,
What gets me is that Nick wanted to post a simple Elliott wave system that people can learn about and decided whether you wanted to use it or not. To put it bluntly if you don't agree with it or it does suit you. Don't look at the tread and let the people who want get something out it make their own mind up.

Vito

 

[CanOz]

:

Re this thread -----if its annoying ppl so much Y dont the Mods give Nick a locked thread for his personal analysis ---- and any banter related to the analysis could be done in a complimentary thread ---

Excellent Idea Cartman, sounds like what they did with Franks thread too.

CanOz

 

[Cartman]

Excellent Idea Cartman, sounds like what they did with Franks thread too.

CanOz

gidday Can ------ it would solve the issues some ppl are having i guess ----

i actually like it when ppl disagree, or question a method ---- gives a more balanced view methinks ---- so the complimentary 'banter' thread would be the one i'd be reading the most Cheers

 

[Frank D]

Excellent Idea Cartman, sounds like what they did with Franks thread too.

CanOz

My thread isn’t locked, it’s open.

I don’t have a problem with Nick’s analysis or trading.

I was making a comment regarding the separation of his trade set-up and
the actual methodology of Elliot wave.

I was stating that the methodology was being optimised afterward and
curve-fitted allowing the him to manage the position. Once in the trade
E.W was introduced too help forecast where price might go, and if
successful I’m sure someone else would attribute the success
to methodology used.

Whilst Nick understands it’s simply a game of numbers:- risk/reward.


Nick’s wasn’t interested in my comment, so I’ll butt out of this thread
and leave it to others to highlight the practical use of Elliot wave.

 

[Boggo]

Its a real pity that someone of the calibre of Nick Radge who was willing to spend time on this forum and help people by displaying one way of extracting a profit had a potentially great thread stuffed.
Your loss folks, he will continue to keep making profits for me.

Anyway, gotta go, gotta move my stop up another $1 on CBA

The thread is already rooted so I may as well post a piccy that is my mental picture of some of the usual suspects who couldn't post a chart or an idea to save themselves

 

[OzWaveGuy]

gidday Can ------ it would solve the issues some ppl are having i guess ----

i actually like it when ppl disagree, or question a method ---- gives a more balanced view methinks ---- so the complimentary 'banter' thread would be the one i'd be reading the most Cheers

There's a big difference between offering constructive help and asking relevant questions v's thread sabotage eg waffling on for the 3rd+ time about why EW doesn't work. There are obvious trolls who simply undermine the 'goodness' of threads in the forum for their own good. I believe many (including the trolls) have great systems and/or strategies that people can benefit from - but their actions in these discussions rate them poorly as individuals.

 

[Nick Radge]

No stress here. Been doing it for 23-years I'm not going to change my view on a dime.

I'll post the setups when they come along - they're aren't that many in the ASX at present. I've done 38 odd trades since November compared to 160 odd the prior Jan - Sep.

CBA moving along week as is ERA which popped out of a wave-4 triangle a week or so ago.

Focus is on CSL right here.

The good news is that we're starting to see some nice impulsive movements across the board meaning that a pause will offer offer up some a-b-c setups in due course.

 

[nunthewiser]

No stress here. Been doing it for 23-years I'm not going to change my view on a dime.

Focus is on CSL right here.

The good news is that we're starting to see some nice impulsive movements across the board meaning that a pause will offer offer up some a-b-c setups in due course.

Personally think CSL setting itself in a nice little short entry pattern could be wrong ...... not entering as yet need confirmation . but have placed on watch for now

thanks

P.S PDN may be worth a squiz with them wave counts .........amongst other forms of anyalasis

 

[potato]

nunthewiser: can u post a chart to show us what u mean?

 

[nunthewiser]

nunthewiser: can u post a chart to show us what u mean?

no , i have no idea how too , never tried .... easy enuff to bring up a pdn chart , easy enuff to bring up a csl chart ..... different patterns mean different things for different people .. doesent make me correct until afterwards tho

sorry will leave thread now and stick elswhere

 

[potato]

thank you.