Forex Elliott Wave
Elliot Wave Theory – Address Pedicting for-profit market
Elliot wave theory is an enormous amount of followers and devotees and is described the analysis of advanced techniques and the key to market behavior without locking and prediction of the future.
Let's look in more detail and why Elliot it can not make money from the theory.
The theory of Elliott was named after him, who concluded in his book "law nature, "something that all traders would love to know.
It concluded that:
The movement of financial markets could be predicted by observing and identifying a repetitive pattern of waves.
Of course there are repetitive patterns in nature and we know that all that, but how can we use to trade?
We know that sometime in the future, we will see a bright sunny day when we go outside, the real question is when exactly?
Therefore, markets are cyclical, but that does not mean you can predict in advance and this means that frames specific time.
What we want from a theory of investment, is the exact time of a specific event.
wave theory Elliott's theory is presented as investment objective, but this is a contradiction in terms as there is nothing objective about it.
The whole theory is based on the subjectivity of the person using it!
You have to look at the peaks and valleys (several time frames) and then make a subjective view on where prices will go next.
That depends on you.
Elliot Wave Theory
Do you agree with Elliot, based on rhythms found in all nature and, of course, these are applied to financial markets.
He then makes the following observation:
The financial market moves upward in a series of five waves and down in a series of three waves.
principle of Elliott waves but neglects the most important that all want to know:
The time requirements for completing the cycle.
In theory Elliot waves no time requirement.
Subjectivity is so large that Elliott waves a thousand different people all come to different conclusions, so this can hardly be called an objective theory of everything is subjective.
Like most theories of investment in the distance, everything is explainable in retrospect, but no trade in retrospect – we to predict what will happen in real time.
In conclusion:
Elliott says they are able to predict the market with their theory, but then gives you no way objective to do so.
Who uses the Elliott wave?
1. Investors who want an easy way to make money, and are welcomed by a large advertising copy – so it's a good story!
2. The crowd attracted investment away from the mysticism of objective laws of nature and markets.
Predictive and subjectivity are contradictory!
The theory of Elliott wave is a predictive theory which predicts nothing and all leaves everything to an analysis subjective.
If Elliott had developed a predictive theory then it would be kind enough to give us an objective way to make money.
If All investors could predict the market in advance, everyone would know what would happen – and it would be really no market at all, as stated above.
Does Elliot leaves a record of impressive gains?
Of course not – in fact, died in poverty, so obviously could not using his own theory, like the rest of the people who try
Can predict with certainty Elliot Wave
The only thing I can predict with certainty with the Elliot Wave Theory is that you get wiped out in the markets.
predictive theories are hard when you really have to decide the direction of target market without help!
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