CatFx50 - page 695
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Nina,
that was a good response. It puts us at least on the grounds of some further discussions.
Here is the issues as you relate them to EW. You have labels such as Miner people, Prechter, Neely etc.. Then you specify what their followers do. Those are your assumptions in both cases. And I am referring to traders not the followers as you call them. Because any followers are not traders and they will loose money eventually as we have already estanlished. The traders however use EW to define the scope and the structure layout. Those are never strictly based on the counts but the nature of the wave. Here is an example the thrust move occurs and you do not have the count but you know that it has to be wave 3 or C or you could treat them like that. Knowing that gives you an idea what the layout of that move is, i.e. people will start taking profit and the continuation of this move will take place or will get into consolidation. Did it give you the signal? No But it gave characterestics.
Of course you would say what happens with this wave 3 move that I would have missed based on what you called misscounts. My answer is as I stated before the counts are not always obvious and you trade your setups. So the fact that I could not have the counts or something proves those counts wrong actually provides me an advantage to trade my setup. But what is significant is that each of the move has a measured tp and sl to some degree and not just an entry signal. That what is significant. Most people are mistaken the success of trading with being at the ight side of the trade. That is totally wrong. The best traders have very low success ratios, they just know how to manage their trades.
As far as your example with car dealer, I do not consider those people as professional traders. They trade with someone's else momey. As you look at their results you will not see that institutional traders have high growth of their portfolios. Yes, anyone can make an impact on the current price at a given moment. It proves nothing. You just have to analyze the market and be confident in what you see. EW does that toa certain degree if you know how to. Let's put it this way if one spots the weakness in the market as we see it now with usd that weakness will not dissapear by itself on its own no matter how many institutional orders will attmpt to bring the dollar up. Why? Because that waht the market layout is at this stage. There are 550 Trillion Dollars caarry over orders in the books, most of them I am sure are not winning ones.
This business is not about duplicating what car dealers, manafactures, Goldam Socks and others use but use your own tools to saty profitable. One could use your system and as long as they know it well to manage money and will not tweak every time they would get in the loosing streak they might manage to become profitable.
The problem is the market always goes thru a simple cycles, accumilation, distibution, shakeouts, tests, retests. If you do not know how to read them you will have to learn how to become a mechanical trader and be consistent with it. I personally do not believe in psychology of making it with mechanical systems. Therefore, I know people need some road map to read the market better. Does it gurantee that you be at the right side of the market all the time? Of course not. But it will put the ods on your site.
BTW I never heard anyone saying that the market was wrong and their counts were correct. It probably helps not to read those interpretations.
It surely appears that you never got a good view of what ew is and what it can do but you continue to read the signal sites and other poor sources and keep generalizing and misquoting it. Believe me there is no competition between ew traders and your system. If you feel your system does produce the results, trade it. Can ew help people who trade with your system? Yes. Is it easy to pick up? No, it takes time. Can one be a sucessfull trader without ew? Yes. Price is the last thing to change. If you know how to read the volume and momentum, you will be at good place most of the time. EW just porvides a template to make it more consistent.
Best of Luck to you and your followers whatever you decide to use. Hope my interference in your thread was usefull.Thank you for an excelent post! I doubt that most of the people were able to comprehend it. This thread follower believe in the simplicty. But the simplicty only comes after hard work. Trading is easy, making it easy is tough. A good friend of mine's daughter is rated 3rd in a state of New Jersey in tenis. I asked him recently about the challenge of progressing from number 4 to being nationally ranked. His response was quite interesting. The talent in tenis can get you way above the competition but at the end you will have to put in a lot of work practicing your shots over and over again. So first you learn the techniques and then thru repetition you train your brain to respond automatically
The same thing in trading. Learning any system is simple. Making it your own is difficult.
Thanks again, mainpip
Nina,
I was wondering why you deleted my post. I did not state anything inappropriatry, I did not use any false language. But you seem not to have any problems with the verbal abuse comming from deepdrunk. I am not planning to participate in your thread but what you did is wrong.
I did not delete any of your posts.
I did not delete any of your posts.
O well, they must have dissapeared by magic.
What Main Is Saying Is Price Action Is Leading Indicator Just Look For The Patterns Within The Waves Thats All Trading Is Is Pattern Recognition Good Post For A Change. Its Not About Counting waves
Thanks a lot Nina...:)
You are really impressive person and so nice....
Thanks a lot for your big help nina...
Now I learn....
Nice Friday...
I think, it could be tried on 15m chart
have a nice trading guys
Success for Nina and his system
O well, they must have dissapeared by magic.
Irony is a nice tool, but it must be based on something real. So, show me which of your post was deleted by me?
If you can not, it'd be nice if you'd acknowledge you made a mistake.
Hi!
I'd like to suggest you try this indicator made by great programmer Codersguru.
Instead of EMA50, use xpMA_v4.
Set MA_Period to 50.
You need to download all the indicators I attached.
http://www.xpworx.com/XP%20Moving%20Average.htm
Enjoy!!
Nina
Thanks nina!
Hi!
I'd like to suggest you try this indicator made by great programmer Codersguru.
Instead of EMA50, use xpMA_v4.
Set MA_Period to 50.
You need to download all the indicators I attached.
http://www.xpworx.com/XP%20Moving%20Average.htm
Enjoy!!
NinaThanks for your great thread!