{quote} We are on the same page there my friend. I have fought long battles with traders elsewhere on the internet, who prefer fundamentals and i always preach the same thing, they are usually already priced in long before you become aware, so how can you know... how can you have the all important confidence? to make money regularly, you have to have a system. You might be lucky every now and then without, but that only leads to over-confidence for the next one you get wrong! As you rightly say, EW is TA, and 'fundamentals' are nothing to do with...
Hi CB,
psssssst, last time you spoke your mind about funnymentals you got suspended in a certain thread
Exactly my view, same page on all what you stated above.
One can easily cut all the Elliott movements into ABC movements. After each ABC one simply accesses the situation anew. Should lead to eventually more profit. This is, because, most Elliotticans earn money in impusive moves (home runs), but lose a lot of money during corrective moves.
This is mainly due to having the overall count false, or to underestimate the corrective move, When you are invested in the right direction of the impulsive move, and do not cash in near the lowest point, your mind is simply caught in the herd mentality, which predominately may think, that the move may go much further after a short consolidation.
To take the profit and assess the situation anew will clear your mind and you will stay open minded.
