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infinitus Jan 29, 2020 11:25am | Post# 1601

I like very much Ross Beck with his quote about " the Elliott Wave obsessive compulsive disorder " (EWOCD) {image}

Hi everybody :-)

Very nice quote :-)

As you might know, i am a Elliott Wave trader. Nevertheless, I think, that Prechter et. al. make a big fuss and use it as, literally, "universal" selling point.

More critical than their attempt to sell the principle as ubiquiterian, is their explanation to the question, how or if quant trading etc. would influence the "waves".
They simply state, that since quants are programmed by humans, the waves would still survive.

How can they make such statements without delivering evidence? Over the years I find it more and more challenging to make compelling counts.
I think the reason that I stay profitable is primarily my risk management.

If the waves are that clear, sooner or later self learning quants will notice it and develop the "anti-EW-quant".

How many times since the low in SP500 in 2009 have they (Prechter et.al.) declared, that the top is in? Sometimes in the future they will be right like a broken watch.

BTW: nice thread here. Keep up the good work......

DiamondMiner Jan 29, 2020 12:03pm | Post# 1602

{quote} Those screenshots do help, thanks. Interesting you mentioned 'probability' - I have had a few aha moments reading The Gartley Trading Method. One of them was about probability. I understood the meaning of the word /concept in terms of trading (and life really) - having an edge etc. But as I was reading, the full importance, and at the same time simplicity, hit me. I've been taking notes as I read. The other two aha moments were to do with 'sitting' and 'symmetry. Lovely how things you think you know all about can really jump out at you with...
vik11, somewhere in this thread I posted the Ross Beck's Initiate level Geometric Trading Course. Watch all the vids along with reading the Gartley Trading Method book will help a lot.

LvCa Jan 29, 2020 12:43pm | Post# 1603

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Hello DiamondMiner, on page 1 there is an entry strategy... I show one of the ones noted today but it went in opposite side....
So i don't understand if I did something wrong or if it was simple bad luck?

Thankyou
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vik11 Jan 29, 2020 2:57pm | Post# 1604

{quote} vik11, somewhere in this thread I posted the Ross Beck's Initiate level Geometric Trading Course. Watch all the vids along with reading the Gartley Trading Method book will help a lot.
I will. Once I've read The Gartley Trading Method, and have a better idea about it, I'll go back to page one and work my way through over the next weeks and months, reading and watch the vids. I'll find that Beck video tomorrow though, and as you suggest watch it in conjunction with the book.

Thanks, Diamond Miner

Aworex Jan 29, 2020 3:02pm | Post# 1605

Hello DiamondMiner, on page 1 there is an entry strategy... I show one of the ones noted today but it went in opposite side.... So i don't understand if I did something wrong or if it was simple bad luck? Thankyou {image}
Hi there,
I noticed on one of the charts you posted the Red horizontal lines Just wanted to know what indicator you used to get them in place

LvCa Jan 29, 2020 3:23pm | Post# 1606

{quote} Hi there, I noticed on one of the charts you posted the Red horizontal lines Just wanted to know what indicator you used to get them in place
hi, they are only drawings or icons attached to the chart ... they are not indicators

DiamondMiner Jan 29, 2020 3:44pm | Post# 1607

{quote} I will. Once I've read The Gartley Trading Method, and have a better idea about it, I'll go back to page one and work my way through over the next weeks and months, reading and watch the vids. I'll find that Beck video tomorrow though, and as you suggest watch it in conjunction with the book. Thanks, Diamond Miner
vik11, if you haven't already, I want you to read the Jenkins book "The Secret Science of the Stock Market" you might find it on this thread posted by somebody, Also read his book "Square the Range". You are going to learn it, because you need to learn it, it's nothing i can give to you or anyone.(The Knowledge, but it's there and available)

vik11 Jan 29, 2020 3:55pm | Post# 1608

{quote} vik11, if you haven't already, I want you to read the Jenkins book "The Secret Science of the Stock Market" you might find it on this thread posted ny somebody, Also read his book "Square the Range". You are going to learn it, because you need to learn it, it's nothing i can give to you or anyone.(The Knowledge, but it's there and available)
Consider it done, DM. I'll search for them now.

vik11 Jan 29, 2020 5:43pm | Post# 1609

My goodness, what an Aladdins cave this is! Thanks DM and PB, I found them.

LvCa Jan 30, 2020 3:01am | Post# 1610

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Hello DiamondMiner, good morning everyone ... Dm as I wrote in the PM I was inaccurate when I wrote '' post 1 '', in reality it was pag1 post 16 ''. I made 2 other similar entries yesterday and they are going well, but now I don't know how to implement a good exit strategy (I think I do a trailing stop and move it above 38.2 Fib. But I don't know ...)

One of them :
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fundiwambao Jan 30, 2020 3:24am | Post# 1611

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{quote} 78.6 Trend Continuation Gartley [ Ross Beck ] {image}
Today morning I drew a quadrilateral on and, formation-wise, maybe it was a tricky one from the start...

I wonder what's missing that could confirm that...... Beck's Emblem of course!

All the same, there's still that little head-and-shoulders going on, and that's a very reliable pattern.
So I put on another trade after yesterday's trailing stop got taken out

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LvCa Jan 30, 2020 6:34am | Post# 1612

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Playing around waiting for the news ... I tried to draw something that followed the momentum

** Do you think it has any logical basis?
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parisboy Jan 30, 2020 6:51am | Post# 1613

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Playing around waiting for the news ... I tried to draw something that followed the momentum ** Do you think it has any logical basis? {image}
It seems
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parisboy Jan 30, 2020 6:57am | Post# 1614

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Playing around waiting for the news ... I tried to draw something that followed the momentum ** Do you think it has any logical basis? {image}
IMHO
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LvCa Jan 30, 2020 7:08am | Post# 1615

{quote} IMHO {image}
I understand , this thing makes me think about how I could play on the exits:
-in the trend of flat i can use hard TP
- in the up / down trend phase i can use trail stop
Could it be a good idea?

parisboy Jan 30, 2020 7:28am | Post# 1616

{quote} I understand , this thing makes me think about how I could play on the exits: -in the trend of flat i can use hard TP - in the up / down trend phase i can use trail stop Could it be a good idea?
As a trailing stop I use the last top or low OR a value related to the Amplitude of the Envelopes I use ( in fact a sub-harmonic of the Gann Octave)

in your case you can also use the last Gann Angle break

parisboy Jan 30, 2020 7:41am | Post# 1617

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{quote} I understand , this thing makes me think about how I could play on the exits: -in the trend of flat i can use hard TP - in the up / down trend phase i can use trail stop Could it be a good idea?
A possible scenario based on theory

I would have written " no visible shoulders." These shoulders exist , but distorted and reduced in their amplitude because of the bearish underlying trend.

Theory allows you :

- to "read" correctly any chart
- to underline the variation between present Price Action and the theoretical model
- to draw the likely consequences
- to build accordingly a high probability scenario
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parisboy Jan 30, 2020 8:41am | Post# 1618

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fundiwambao Jan 30, 2020 8:44am | Post# 1619

{quote} Today morning I drew a quadrilateral on and, formation-wise, maybe it was a tricky one from the start... I wonder what's missing that could confirm that...... Beck's Emblem of course! All the same, there's still that little head-and-shoulders going on, and that's a very reliable pattern. So I put on another trade after yesterday's trailing stop got taken out {image}
PS:

-> Beck's Emblem replaces Price Retracement technique
-> Quadrilateral replaces Price Extension technique

fundiwambao Jan 30, 2020 9:57am | Post# 1620

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{quote} Today morning I drew a quadrilateral on and, formation-wise, maybe it was a tricky one from the start... I wonder what's missing that could confirm that...... Beck's Emblem of course! All the same, there's still that little head-and-shoulders going on, and that's a very reliable pattern. So I put on another trade after yesterday's trailing stop got taken out {image}
"The goal is not a perfect trade - the goal is a profitable trade" - Captain Jack

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