Elliott Wave Counting with EG

I don`t like to involve in this, but anyway...learncount, i know what you trying to say to marketwavez, but anyway he would just like to share information with others in this forum and no methers if this are good informations for all of us or for nobody. he just want to learn counting like everyone else here, so i dont know why are you so agresive marketwavez.
Just leave him, maybe he will do it a better and better job in a few months or years, just time is need and maybe than will be his charts enough good for you to, "learnocount".

nice counting marketwavez,

Your charts would be much better, with more details if you would have book ELLIOTT WAVE PRINCIPLE. Cause i think that you dont have it. It will gave you a lot of informations.

Marketwavez you must realize that in the market is very easy to find impulse waves (motive waves), but in the market is 13 different patterns which are in your charts very rare. then you will be on the half way to know how to count, other half is to start to making the profit on your accounts with this counting, but is even harder...this is was LEARNCOUNT is trying to tell you.

NIce trading

Grega

SM I think it's totally valid on this thread EG and others are doing a great job and is willing to learn then you get a guy like wavez coming in here and mixes everything up with his up and down counts....BTW money, wavez is NOT willing to learn.......I guess once people read just how completely pitiful his counts are and the fact he has no way of backing them up, people can now see that his charts are to be used as references of how NOT to count waves.......I noticed you and Merlin are 2 of the 3 people that vouched for this guy, I'm telling you from experience with him, he may not even have 1 live trade much less 1000 he is nothing more than a professional poster at every forex chatroom in existance. he is not a trader......EG you have my apology, but this guy needs to be shown for what he is, so that he doesn't mis-lead people like he has on other forums...I take the EW seriously, it bothers me when I see people write, "I tried the wave and it didn't work" or "it's to complicated" or even "every EW guy has a diferent count and you can't even agree between yourselves" these things bother me because they are not true when you are really counting waves........all three are true if you have a group of people counting ups and downs and labeling them as waves.........like I said b4...EG you're doing great, you post counts and you are willing to back them up with what you believe you see....to the others in here......hold every poster in here that has a chart with counts to the same standard...don't let someone post a chart with wave counts and not explain in detail how he or she got those counts...this is the standard to confirm if it's a person truely striving to learn this or has a grasp of it and can be of service to others...........

In an effort to not dilute EG's thread further and out of respect for him, I will not comment on this post. I will let my original statement stand. Thank you for your answer and clarification.

Scott

my argument with Learntocount is that
he is Rude and Ill-mannered ........... This it !

- No One appreciates being talked to like that ...
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The purpose of this thread is to
exchange trade ideas and thoughts
in a respectful manner ............

NO Bashing !..... NO Provoking !..........
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These are the last trade-setups made by Marketwavez
- So you can see the Averages
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A track record of recent trade set-ups
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hold on, I am getting the links

( this is being updated )

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-JAN 2008 Trades (Results).... NO HINDSITE !
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1st Trade (1-03-08 )
Entry USD/CAD Post # 2423

Click here to see chart
http://forexfactory.com/attachment.p...8&d=1199409172
http://forexfactory.com/attachment.p...1&d=1199409200
http://forexfactory.com/showthread.php?t=29394&page=162
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2nd Trade (1-08-08 )
Entry GBP/USD Post # 48662

Click here to see chart
http://forexfactory.com/attachment.p...7&d=1199906016
http://forexfactory.com/showthread.p...11#post1793311
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3rd Trade (1-09-08 )
Entry USD/CAD Post # 2448

Click here to see chart
http://forexfactory.com/attachment.p...8&d=1199912668
http://forexfactory.com/attachment.p...9&d=1199912668
http://forexfactory.com/showthread.p...60#post1793460
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4th Trade (1-10-08 )
Entry AUD/USD Post #58412

Click here to see chart
http://forexfactory.com/attachment.p...1&d=1199999473
http://forexfactory.com/showthread.p...33#post1796133

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5th Trade (1-15-08 )
Entry GBP/USD Post #59174

Click here to see chart
http://forexfactory.com/attachment.p...0&d=1200391124
http://forexfactory.com/showthread.p...91#post1802991

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6th Trade (1-16-08 )
Entry USD/YEN Post #59440

Click here to see chart
http://forexfactory.com/attachment.p...8&d=1200537440
http://forexfactory.com/showthread.p...86#post1806186
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7th Trade (1-17-08 )

EntryUSD/CAD Post #2457
Click here to see chart
http://www.forexfactory.com/attachme...0&d=1200565813
http://www.forexfactory.com/showthre...34#post1806734
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8th Trade (1-21-08 )
Entry GBP/USD Post #59802

Click here to see chart
http://www.forexfactory.com/attachme...5&d=1200658000
http://www.forexfactory.com/attachme...9&d=1200967182
http://www.forexfactory.com/showthre...56#post1813456
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1st Trade ( )
Entry USD/CHF

Click here to see chart
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1st Trade ( )
Entry USD/CHF

Click here to see chart
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Open Trade

You can not trade ----- and should not trade with
Elliott Waves , Wolf Waves , Fibonacci, Harmonics , or Gann in Isolation

............this is one of the two main reason why people fail at trading
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Just because price is sitting on a Fibonacci line that you observed
is not enough to succeed in this business called trading

One must learn about Risk Control which is to be studied intently .........
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Money management must be incorporated into your trading style
( your risk tolerance will not be the same as the next trader ) ---------------------------------------------------------------
To master Forex is to master Money Mangement ,

//////////////////////////////////////////////////////////////////////////////////
Trading is about your ability to mange risk of the individual trade that you
decide to take no matter what wave-count, chart pattern
or fibonacci line , etc that you think is occurring ....

So in the end ,
it all comes down to your Averages
no matter what trading method you use ............

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Marketwavez One of your nice looking charts prior to the last BOE rate announcement http://www.forexfactory.com/showpost...ostcount=58244 although the C wasn't reached exactly but close enough.

NICE WORK MARKETWAVEZ.....

MARKETWAVEZ 1:0 LEARNTOCOUNT

no offence Learntocount

money...go look at my thread in the trading forum.... start at the first post.......count the winners vs the losers on there.....also note the 31% return this month on those calls.....that is LIVE money BTW............for you guys thinking wavez makes great calls...good luck to you all.........I'll leave this thread to EG and wavez...........

Learntocount ,
Your ability to count waves is not the problem here :

No One is questioning your ability to count the waves

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You are Rude and consistently saying nasty things .

This is what the problem is ,,,,,,,and has been my point all along

Seeking light here is the Result chart
- Price actually declined into the target 1 to complete the " End Wave C "

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I must apologize to everyone for not having stepped up to the plate sooner. After seeing the first few exchanges, I was hoping this would settle down with little roughing up.

After an out of town trip over the weekend, I come back to see it has gotten a bit out of hand.

I am sure that both guys are not willing to mentor me if I hold the other my mentor too.

But to me, I am learning to count waves from both of you based on your posts.

As I have mentioned in several posts before, I study and do my EW counts in conjunction with a multitude of technical indicators and I have been studying and observing how various scalping and trading systems found here at FF and other forums perform along side EW Counts.

The reason that I bring this up is because I have realized that I could actually see how EW is related or how I can use many other tools to aid me in my wave counts.

In the course of my learning, I have met these to great guys I consider as mentors ( although I am not sure if they are still willing to mentor me here on ) who continuosly use EW and post their wave counts. Very few people posts their elliott wave counts. Most either find the subject matter too complex and give up while others are to shy to post their wave counts with charts. Some good ones have started threads ( like Fixme1too and Traex ) and then fade away. While very few real elliotticians really post.

The fact is, it is true about that joke that " if you put 10 Elliotticians in a room and you ask them to label the same chart then you get 10 different answers".

But what that joke did not specify was that, the possibility of 10 different answers did not actually mean that each elliottician had his respective wave count which totally did not agree to a wave count of another in the room.

It actually meant that you most likely get 10 different wave counts, However, there would be wave counts that a number of people agree on as primary wave count while other wave counts can be considered as alternative wave counts which they may all agree on.

Elliott Wave counting ( if one studies the rules, would provide an EW student or an EW Practitioner various wave count potentials. Maybe 10 different wave counts is actually an exaggeration. But at least 2 to 3 possible wave counts is possible. These is where the ALTERNATIVE wave counts come in.

These alternative wave counts and the reason for each alternative wave count has been missing in most of the posts I have encountered in my earlier days on EW even on a signal provider I subscribed to before. This was what frustrated me and later on drove me to study this on my own.

I wanted to know the WHYs on EW counts. I wanted to know the characteristics of each wave, what to expect as clues to validate the wave count, the limits to make it a valid wave count and the limits that would nullify a particular proposed wave count.

By the way, this is for the Moderators of this Great Forum and the 3 people who have vouched for me. I have made more than 1000 Live Trades but they were all not winners. My overall rating is still on the negative on my LIVE trades. So I may not deserve the 1KT Status. I would understand if you withdrew your vouche.

Now back to my "mentors"

First I encountered marketwavez here, then in another forum. While many elliotticians or learning students rarely post their charts, It was only marketwavez whom I have found to be constantly posting his charts. Sometimes I do not agree with his wave counts because of what seemed to me was a deficiency on the aspect of Size and structure proportion of the waves within his counts. But one thing I noticed with his charts was that I rarely find or have not actually found him post an EW wave count on a chart with any technical indicator. But what you see on his chaerts together with his wave counts is a whole bunch of :
chart patterns
trendlines
support and resistance levels and
potential Target Profit levels

It is notable too that he always includes a line " that this is only a potential wave count and IS NOT CAST IN STONE". With his encouragement and seeing him admit that his wave counts are not cast in stone, that gave me more confidence to keep posting my ew wave counts.I considered that as an admission that he posts potential wave counts he sees or observes to be developing and there are other possible wave counts that he may not have seen.

To me, I did not see it as an issue because it is true that here, we were trying to forecast price direction ( before it actually happens ) and there are factors that may invalidate a count. So nothing is really sure. They were merely projections and coul;d still be invalidated by various factors that affect price direction.

That is the reason also for the Disclaimer under each post I make because all I present on this forum are POTENTIAL Counts I see. However, I strive to qualify each wave count I make specifying whenever I can the limits to consider a particular wave count as still valid and at which level it becomes invalid and havew an alternate wave count when ever I can.

It is all too taxing and requires a lot of time labelling and relabelling charts in various timeframes for 1 pair and specially for additional pairs. So in the interest of being able to teach myself and hopefully allow others trying to learn be able to follow my train of thought, I post multiple charts to explain and show how I arrived at my potential wave counts and the conclusions.

My Point is Marketwavez posts multiple charts in different timeframes for almost each of the pairs he makes a count on. This helps me to follow his train of thought. Although he does not really explain much about the chart patterns he puts on his charts. ( But because I have also been studying wave patterns along side EW wave counts ) I get to understand what he is doing - I think ) and I have to admire and thank him for this.

I too have seen him go back to his old charts to show that he was correct or his wave count was invalidated. I have also seen him advocate that people who post chartswith the EW counts should go back to the old charts as a follow thru and show that they were either correct or wrong and what really happened.

On the otherhand Tim (LTC) arrived and I found him to be quite confident about his wave counts and he would provide levels at which he would consider his wave counts invalid. His 123 Pattern Breakout was a nice addition to the EW Analysis for Entry Signals. And I actually found him an inspiration to put my EW Counts to the next level. That is one where I can put up a chart with my Wave count s with more confidence ( even if they were still faulty I must admit). But Confidence does a lot to a person. it can drive them to do better and strive harder OR leave them over confident with an empty bag full of air. I hope to be the former and not the latter.

As I was telling my wife before all this happened, here were 2 Great people I would consider as my mentors on EW. They may have differences in their style but I know I will learn a lot from them and be able to combine their styles.

What I did not expect was a CLASH between them.

I can understand why Tim doubts marketwavez after probably being turned down on the 1 Million Dollar Account Management Challenge. But I too respect Marketwavez' declining the Challenge/Offer as he is in no way obligated to accept it.

It used to be that I would wonder where marketwavez for example gets all his energy and time to analyze multiple pairs on EW. While I have been finding it extremely hard to do on even more than 1 and yet I have been doing this almost 10-15 hours a day for almost 1 year ( well not exactly analyzing ew wave counts but also studying other methods) . Then I found another group of Elliotticians who were open to discussing their wave counts on multiple pairts too. So I thought, it was indeed possible to do EW counts on multiple pairs and be serious about it specially when one has shown a level of Mastery for the subject.

I do not think that if you make and post a wave count for each pair you want to analyze, you are obligated to trade them LIVE. It could be that he is traing only 1 pair or maybe 2 or 3 LIVE and the other wave counts for other pairs he does was justbecause others have sought their help and the elliottician was just kind enough to draw up a wave count to assist others.

As to showing proof about ones LIVE trades, I believe it is still a right of each trader to show proof or not.

I really hope that I can bridge this GAP between Marketwavez and Learntocount. People in this forum can learn a lot from both of you. We have to accept that you have different styles which I believe is useful for many of us who are still learning to trade using Elliott Wave Principles.

Peace To Both of You
EG

that is all great EG, just wait till you see 5 wave impulse B waves and 1 touch trendline breakouts his counts are of ups and downs period...you chose to follow that garbage at your own peril...like I said, I can throw darts or flip a coin and get it right half the time.........everyone enjoy, I need this like I need another hole in my head...follow the chatroom,demo experts until everything you have is gone.......I'll be somewhere else making double digit returns every month LIVE

The thing about Marketwavez is that he is really good at OTHER types of technical analysis. His Elliott Wavemenship is pretty horrible, but he gets by with other technical techniques.

If anyone here isn't taking every chart here with a grain of salt, then they're in for a rude awakening. Trade your own charts, not anyone else's.

Learntocount ,
Your ability to count waves is not the problem here :

No One is questioning your ability to count the waves

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You are Rude and consistently saying nasty things .

This is what the problem is ,,,,,,,and has been my point all along

Hmm , No more confidence ?

Go to Learntocount ----
He will help you ang fgive you a 1 million dollar account to trade his way !

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We all go through that. That was like several months ago..... I've since double and tripled my LIVE account.

We all go through hiccups and get lost. It happens.

Btw, I was right. :-D and it fell like the dickens. I win.

ok,
everyone except marketwavez right ?.......I get it .
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Funny, there is no reflection of this in any of your posts ...........
but ' guess what ? - I do believe you if you simply say so

You don't have to prove anything to me ...........

Your success is not in question here
and I have never said anything negative about you or your style
just remeber that

But still ,
Why not become a Learntocount student ?
you get million accont to trade when you are finised
learning so you can make even more . What's wrong with that ?
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I think what is getting under everyone's skin is that ( I and MANY people over at dailyfx believe this as well) if you actually read the Pretcher or Neely book on Wave theory that you'd be an incredible trader. Your wave counts just don't seem like you really really know what you're doing. I have never seen a long term count from you either.

I think everyone wants to get better at doing the Elliott Wave. Even you right? So if you want to get better, why don't you pick up the book Mastering Elliott Wave Theory. I think it'll make you a lot better trader.

I have nothing against you market. Never have and probably never will.