why people say Elliot is hard to learn? | Forex Factory

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why people say Elliot is hard to learn?

  • #1
  • First Post: Dec 19, 2009 1:14pm Dec 19, 2009 1:14pm
why?

what is hard about it?
  • #2
  • Dec 19, 2009 1:31pm Dec 19, 2009 1:31pm
Most people find it hard to find a starting point for their wave count. Also if you want to to confirm every wave with its smaller wave degree things can get a little crazy and it's up to you if see a 5 wave pattern in your first wave because swings get pretty small the smaller your wave degree is. Where does the swing start where does it end? Also there are always multiple alternative waves count which you should have in mind if your first wave count get proven wrong.
  • #3
  • Dec 19, 2009 4:45pm Dec 19, 2009 4:45pm
Study it yourself, you'll see why.
  • #4
  • Dec 19, 2009 6:02pm Dec 19, 2009 6:02pm
i am studying. but is the difficulty in the theory or in the application of the theory. i think it is the application of the theory which requires hands on experience.
  • #5
  • Dec 19, 2009 11:41pm Dec 19, 2009 11:41pm
exactly. that's what most people face when they take Elliott Wave.
  • #6
  • Dec 19, 2009 11:48pm Dec 19, 2009 11:48pm
Elliot = Tarot card reading.
The breaking of a wave cannot explain the whole sea.
  • #7
  • Dec 20, 2009 2:45am Dec 20, 2009 2:45am
Are you serious? I heard many professional traders say that Elliot Wave is pure bullshit. You cannot learn to trade with bullshit, you can only look in historical chart and say that "that is what the theory says" with weird rationalizations.
  • #8
  • Dec 20, 2009 11:26am Dec 20, 2009 11:26am
Quoting Kakyn
Are you serious? I heard many professional traders say that Elliot Wave is pure bullshit. You cannot learn to trade with bullshit, you can only look in historical chart and say that "that is what the theory says" with weird rationalizations.
For the most part, the elliot wave theory is bullshit when you start counting things that aren't there. For instance, price goes into a range and then what? You try to count out all the waves? I count waves quite a bit though and they are a solid tool for me. The only thing I watch for though is after 3 waves in a certain direction, I'm looking to see an impulse wave back towards the opposite. That happens quite a bit, especially on the lower timeframes.
I dream, therefore I become.
  • #9
  • Dec 20, 2009 1:46pm Dec 20, 2009 1:46pm
can the waves be mathematically modeled ... like fourier series ?
  • #10
  • Dec 21, 2009 4:19am Dec 21, 2009 4:19am
Its not hard to learn, Prechter made it difficult.
  • #11
  • Dec 21, 2009 4:54am Dec 21, 2009 4:54am
Quoting hnosair
why?

what is hard about it?

It is not Hard ..


just Hard thing is only you do not want to put your willing to Learn...


I am a elliotician and a neo wave Analysier .


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  • #12
  • Dec 21, 2009 7:26am Dec 21, 2009 7:26am
I think Elliot waves is too subjective.
"Nature's law" is called "Reason". When perfectly understood by human it is
  • #13
  • Dec 21, 2009 8:11am Dec 21, 2009 8:11am
Quoting Caesar95
I think Elliot waves is too subjective.
Me too!

If you put 20 Elliot Wave'rs in a room you'd have a hard job finding 2 who had the same count!
  • #14
  • Dec 21, 2009 9:03am Dec 21, 2009 9:03am
Quoting Caesar95
I think Elliot waves is too subjective.
That and the fact that you're trying to draw the future that changes with every little information makes it very difficult
  • #15
  • Dec 21, 2009 9:11am Dec 21, 2009 9:11am
Quoting aiyahmarklah
Its not hard to learn, Prechter made it difficult.
i am reading his book and there are many patterns and rules !
  • #16
  • Dec 21, 2009 12:06pm Dec 21, 2009 12:06pm
What I find interesting about this theory is that... the creator(Ralph Nelson Elliott) wasn't able to make money with his theory! :-)
Do I miss something?
  • #17
  • Dec 21, 2009 6:19pm Dec 21, 2009 6:19pm
Quoting VonTrader
What I find interesting about this theory is that... the creator(Ralph Nelson Elliott) wasn't able to make money with his theory! :-)
Do I miss something?
then, i should not spend too much time on learning this. just the larger degree waves.
  • #18
  • Dec 21, 2009 10:27pm Dec 21, 2009 10:27pm
The studying of Price Action will help you explain E.W.T. By then, you wont need to think about E.W.T anymore, because E.W.T is based on the basic demand and supply factors which you will learn about in PA.

I have been there too. I hope this helps!
Life is a school for the soul
  • #19
  • Dec 21, 2009 10:53pm Dec 21, 2009 10:53pm
The question is does Elliot works?
  • #20
  • Jan 6, 2010 7:43am Jan 6, 2010 7:43am
E.g. Fib numbers, round numbers and piviots works bcos 10 out of 10 traders will come up with the same value. They can be defined very clearly, and given enough believers it becomes a self fullfilling theory, bcos ppl act upon those points and therefore creates market forces.

But I think E.W.T is too subjective in order for it too work effectively (at the moment, might change in the future). It has a very weak and wide spread effect on the market, instead of giving market forces on very focused points...

This is what i think... Correct me if you think i missed out somthing or just totally wrong
Life is a school for the soul
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