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Any Elliot Wave traders out there?

Participants:

Posts: 3

djVox

Prospect

Joined: Oct, 2006

Posts: 130

Posted: Jul. 27, 2008 - 2:13 PM ET #1

Hey, I trade options and use wave theory. Any like minded traders on this board?

wallstreetcappers

Covers Linesmen

Joined: Feb, 2003

Posts: 58464

Posted: Jul. 27, 2008 - 7:52 PM ET #2

I know the theory but I dont use it.

Too many reasons for things to fail and too many excuses to explain when the Wave count doesnt work or it fails.

djVox

Prospect

Joined: Oct, 2006

Posts: 130

Posted: Jul. 28, 2008 - 1:35 PM ET #3

Yes, I can see why that is a concern. Alternate wave counts do exist. You need to track this alternate counts along with the top count to be successfull. A good trader is always asking the question "what if I'm wrong?" So if you have a plan in place and the top count goes against you, you must be perpared to adjust and knowing the alternate count helps with that. I find that wave theory works best when trading idex based ETFs. I have had success on individual stocks but the counts can be less accurate.

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Any Elliot Wave traders out there?

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