Hi everyone,
What’s your opinion of elliot wave?
[QUOTE=“Kitaab;631749”]Hi everyone, What’s your opinion of elliot wave?[/QUOTE]
hello Kitaab, what’s up? how are you doing with your trades?
‘elliot wave your money good-bye’, you mean? it’s not 100% consistent; some times it works, sometimes you get extra waves all the way up to wave 8 (or 9, or 15).
[QUOTE=“gitpip11;631774”] hello Kitaab, what’s up? how are you doing with your trades? ‘elliot wave your money good-bye’, you mean? it’s not 100% consistent; some times it works, sometimes you get extra waves all the way up to wave 8 (or 9, or 15).[/QUOTE]
What is 100% accurate in trading? I trade market structure based on harmonic elliot wave.
Nothing is 100%
The market is a representation of human emotion.
Humans are unreliable and fallible.
Sometimes the market does what we expect it to do, others it does the opposite.
Elliot wave is a good to know just like a musician should know music theory.
[QUOTE=“Kitaab;631777”] What is 100% accurate in trading? I trade market structure based on harmonic elliot wave.[/QUOTE]
you’d be surprised if i told you: it’s almost nearly certain that any trader will loose money–that figure is 95%. I can’t say the same for the accuracy of elliot wave (it’s no where near 95%). It was developed in the 1930’s about 80 years ago. If you see an elliot wave developing, chances are millions of other traders have too, and entered their positions based on this chart pattern even before it comes to fruition, which would account for the extra waves in any elliot wave. If you know something is expected to happen in the future and act on that information, the expected future has already changed based on your actions. The institutional traders (banks, hedge funds, etc) know all of this, so they are one step ahead of us, and wipe us out accordingly. The whole retail trade sector is ‘rigged’ so you lose money.
In Elliot Wave the Wave structure always takes precedence over the Wave count.