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Tom Joseph and practical application of a mechanical system
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Uploaded: 20.11.2004
Content: 41120142930310..rar 3151,04 kB
Product description
Nine out of ten traders refuse to use Elliott Wave Analysis, claiming that he never works. First, I agree with this point of view, and even sympathized with her.
However, after studying the simple approaches to Elliott Wave analysis and applying it for the past 17 years, trade at its own expense, I felt that the trader is deceiving himself, refusing to Elliott Wave analysis. Elliott Wave analysis is the only tool I know that consistently defines the strength of the movement and its duration. It is important to know the direction of the movement of prices and price targets because traders do not try to resist the trend and trade in the direction of the main trend of the market.
One of the main reasons that traders have expressed, not preferred Elliott Wave Analysis, is the subjectivity and complexity of the method. And it is absolutely true. About 65% of Elliott Wave analysis consists of intricate rules that can be understood ambiguously. 10 analysts can easily give ten different answers.
Trying to find a way out, I was able, in the end, build a simple model using clearly understood by all 35% of the Elliott Wave Analysis. Further investigation revealed that 35% of clear rules facilitate the extraction of 80% of the profits that can be obtained through the use of Elliott Wave analysis.
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