Elliottwave-forecast.com - they deserve the LOSERS award

Hello everyone

Im writing about my experience with this site elliottwave-forecast.com

I subscribed their for a month and a half and in that period they offered three signals and all of them were losing signals and hit SL and most of them are 500 pips away SL so that can tell you how lousy these people are.

Plus they dont follow fundamental at all which is the most stupid foolish dumb thing you can do in any market and that’s why losing 500 pips in few days is possible with them

Any way watch out from those fools

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I 0an! Thank you for your review, their website looks professional and I had considered to hire them in the future. After reading about your experience, I won’t use their services ever! Shame on them!

Never ever ever try them they use the EW which has all kinds of possibility if the price go up they have an explanation and if it go down also they have another explanation so where is the credibility

read the critic on the web for the theory and how it dosent work at all

in my point of view the best analyst that you can rely totally on and sleep comfortably at night are DDMarkets and Ashraf . those guys know their fundamental and technical and DDMarkets keeps updating about the current open trades every day after the daily close and through out the day

I had the same result. I tried a service for one month. For the entire month I did not get anything of benefit that either A) helped my trading system, or B) provided a signal for a trade in which I entered the trade and it was profitable. Every time the wave forecast did not go according to plan, they simply redraw the waves. The waves are so subjective, the presenter in the live trading room would say “Well this could be A B C over here, or it can be here, or even it can be counted another way”. There was one trade that they called long in the l live trading room that I clearly saw was a top in the market dating back a few years with a bearish divergence on the RSI as well as seasonal patterns. So I didn’t take the trade because to me it was clearly going to reverse as there was multiple confluences but the Elliott Wave group was calling for more high’s because they trade strictly off the waves and do not take anything else into account even such simple technical charting techniques as long term structural support and resistance areas. Well, I was right in my analysis and the trade went south big time. Could have cost me a great deal of money following that and I feel bad for those in the service that did. I really wanted to believe Elliott Waves was real, and that it could help my trading in some way but it did not and that’s my honest experience after putting it to the test for a whole month every single day. After taking this subscription, I actually no longer believe in Elliott Waves as a true system. In this difficult to navigate world of trading, you never know what is real and what is made up to make a profit for seller of the system. Too many people are getting rich off selling systems and not actual trading. The people who provide the Elliott Wave service do not even show their own accounts are profitable. They do not show any trading statements, or even the fact that they take these trades in a live account themselves. If the system was profitable I don’t see any reason whatsoever not to show a live statement. It’s just nonsense.

I’m also disappointed, I’ve paid them $ 400 for 6 months membership fee (September 25, 2018 to April 25, 2019), and to this day (after 3 months) I only got a little pips from their setup chart. Very disappointing.

Make sure you don’t give them a chance to take your money. They will take it and not give it back

Great summary of the weakness involved in putting your faith in subjective TA - Ta which depends on features that are printed wherever the trader draws them. There are plenty of other suspects but Elliott Waves are a prime example.

HI guys,

I spent a last year, just reading their study videos (£350), however last month i decide to take the bigger step pay for the subscription - this however truely exposed them in my eyes.

  • I saw great trading opportunities always being missed and excuses and redrawing whenever the graph went against us.

I think i have learnt my lesson the hard way!

So what are you looking for in terms of a trading strategy? Have you found anything that is worth the time or money?

How important is elliot wave? does it actually work?

It would be hard to prove it works or doesn’t work as the waves have subjectively identified start and end points: two different traders will draw up different versions of wave son the same chart. So its always possible to generate a fully annotated and attractive chart that shows EW does work: while another Ew trader on the same market has lost money.

Plus its more complicated than most TA. Dealing in more complicated TA concepts does not mean more profitable trading - that is ordinary job thinking.

did you found an other Elliottewave forecast service?
I used them also recently. I studied their website very well and did followed them for years. Also I studied myself EW rules a lot.
Did studied all their counting on the same ticker that was on the net public available.
Not one did made sense. so decided to buy their most recent chart from them.
Actually they separate the charts in weekly, daily, 4hourly and hourly.
I added all their counting in to one big chart of all time that I can zoom in.

I noticed that they use the same degree waves across in the weekly and 4 hourly.
normally a degree wave should be used consistence across the whole chart for the same time candle sticks.
it can not be that a super cycle waves that is first counted in months suddenly is used as a daily wave in the same count of same ticker (company, index , etc) .
Only because of the charts are divided between weekly and hourly, most users wont notice this wrong use.
Actually their count is set up as a trend following.

on an other chart I bought an extra degree was included just to get to the bullish count.

Ok, had to give it a try and follow their charts and took a subscription.
2 days later they updated the chart with a totally different count and direction.
I asked why as not any Elliott wave rule was broken to give an invalidation of the count to make a new count that would go the other direction.
They said because on THEIR distribution chart that is NOT accessible to clients, the bottom fell out over the weekend in after hours and therefore it needed a new count with a correction that would take it much deeper.

I looked up all data , in my professional international big trading broker, and not any data suggested that the price dropped that low to make that invalidation of the previous count.

apparently they look to world markets and then base their new count on it. ???
so they include other charts that have no relation to the ticker to base their EW counting. ???

I am just looking for a good Elliotte Wave indicator based purely on EW rules and only the same chart of that ticker.(not mixing tickers not related)
They would not explain what is included in their distribution chart, what is only for their use and not for clients.
= their EW count that clients follows is based on secret soup of things that client are not allowed to know. So blind trust on a secret.

To give it the benefit of the doubt, I followed their new count and other direction again.
and for the 3rd time in the row I lost big.
it was always the opposite direction that what they said.

The hard thing is that I asked them last Sunday to explain the EW rules that where broken that made them change direction.
And provided my EW opinion why I thought the previous chart and direction was still valid.

But apparently it is not allowed as client to share your EW opinion in the chat. its a one way direction where the client has to accept their new count UNCONDITIONALLY with no questions asking why.
You accept their counts based on their secret distribution chart and if you do ask questions why: you get blocked.

So I accepted their count, then lost again money as ticker chart turned big in the other direction as my own count I showed them and because after I needed support to get out of the loss position after following their charts advice against my own, they blocked my subscription.

Does someone know a Elliotte Wave service that only is based on the EW rules, RSI and fibonacci and no secret distribution chart or other tickers that change the bias. Pure theory as it was invented in 1930.

before you trust your money on their chart forecast is to use their trail version (google for “elliottwave-forecast” and “plan-trial”) for 2 weeks free of charge and follow their hourly charts each day. and start counting each day for their forecasted direction to see if they have it right or wrong.
count for the full 14 days. at least they should have 50% right or 7 on 14 as anyone.
But make sure you also know the real time price and the pre market or post market price. They have the habit to change fast the chart if pre market prices move a lot and then when market opens they can show it as they had the good count. (well good count AFTER THE FACTS, but it is the upfront forecast that can make you or lose you money) After the facts, its easy to make a count.

For a paid subscription of a specialist, the track record should be above 70% that you can count with your own eyes only.

One day the institution s might get bored of creating wealth and make pretty Elliott waves instead