Chariot Share Discussion Threads

[andonis] 02/2/2010 18:39

Dow hit 10285 already.

[tpaulbeaumont] 02/2/2010 18:38

if you click on anyones name it gives you all their threads :)

[jamesiebabie] 02/2/2010 18:37

Nav,

Here's a good free starting point with free online tuition courses.

[navyan] 02/2/2010 18:37

I am sorry tpaul, what is your EW thread EPIC? did not know you have ur own thread...

[tpaulbeaumont] 02/2/2010 18:32

elliott wave principle by frost and pretcher is all u need Nav, and even then you only really need the first 3 chapters, which is on my EW trading thread :) you can read it all in a weekend :)

[tpaulbeaumont] 02/2/2010 18:31

i like to think i know a thing or two about a thing or two Nav yes :) although i wouldnt say 'pro' lol ;)

whats a new index?? i wouldnt use it on any individual shares either. maybe as a very faint guideline, on the bluest of the blue chips. just the big indices is fine for me :)

[andonis] 02/2/2010 18:30

I have a spare copy.

[navyan] 02/2/2010 18:27

guys, what is the best EW book then, I want to learn it.

[andonis] 02/2/2010 18:25

Yes I agree that you could if lucky get the count right from start. But a new index or share? How can you even start thinking when there is hardly data for it to be sensible. So Most often you try and then months later you morph your count, you evolve it. Everybody does this.

[andonis] 02/2/2010 18:22

gap at 10260 closed Nav... so had you seen it and shorted money made. One of those days I will make a theory about the gaps and their distribution.

[andonis] 02/2/2010 18:21

I use my methods and have no time to argue as they work for me.

[navyan] 02/2/2010 18:20

tpaul, can I just say: You are right and he is wrong!

if it makes this conversation ends...

are you a Pro trader then Tpaul?

[tpaulbeaumont] 02/2/2010 18:20

Having traded other peoples money, i can tell you its no easier! Your kidding yourself if you think it is, unless you really dont give a fig about your rep/job/career!

[andonis] 02/2/2010 18:19

I actually forgot to give you the next earthquakes...darn too busy. I have them now for the rest of the year. It took me time but job done

[navyan] 02/2/2010 18:19

Ando, how about you trade my money, and I trade yours, see what happens?

[tpaulbeaumont] 02/2/2010 18:18

Of course you can be right from the start :) If you have the correct count of larger degree, you know what to expect within the smaller degree. This is how I use waves. Im not at all interested what happens intraday, I take my cues from a daily chart :) incidentally Im not offering any of my workings. The poignant swing levels, in all sorts of markets, I post on my "V or W" thread. Gann didnt even tell his son how his analysis worked, he wanted him to work it out for himself, its more meaningful. Everything I use is on my EW trading thread :)

Needless to say, that 5th wave ext you did earlier, like 99% of the other ones you've posted over the years, i disagree with. We can agree to disagree. As mentioned a few times earlier though, it doesnt matter where DOW goes, it wont prove the 5th wave ext correct.

[andonis] 02/2/2010 18:18

Yes you did and you did not use Elliotts

[navyan] 02/2/2010 18:16

I spotted that, didn't i Ando? 10045 level...

I know, exactly Ando!! I did see the 10045 level from the chart, so what, doesn't mean a damn thing if I didn't trade it really.

[andonis] 02/2/2010 18:16

Nav, me too but I must say trading is more difficult than charting. I would rather trade other peoples money... then mistakes are paid by others. When it comes to yours then risk and money management stops entry exit...is different ball game. I dont have time to do this professionally but better to trade selected shares. I have stuck to DOW and it is a bad habit sometimes....

[andonis] 02/2/2010 18:13

Also you dont need Elliott counts to go long from 10050 so many went long but most of them have the experience and astuteness to spot that it should turn. This is simply 'learning by experience' and they do not need counts. Depends on the person. Some hate Elliotts I find them useful SOME TIMES....

[navyan] 02/2/2010 18:11

I like the 'making money' part...

[andonis] 02/2/2010 18:09

You cannot be right from the start. Because you learn from the past and from the future. You try and try again a count that fits best until it becomes invalid. In my case I do not try to know all. I trade so a count that fits my daily needs is ok. I do not rely solely on Elliotts but I do use them. Boy if I find a 5th wave extension I am very happy as I make money. This rise from 10050 had I seen this count early it it would have been money in the bank going long. Instead I discovered it late and I was shorting here and there and some longs. I trade extensions.

[tpaulbeaumont] 02/2/2010 18:03

Your right about evolving I suppose, i just get the impression perhaps soem guys have a count, follow it for a bit, its becomes void and needs to 'evolve' so they think ..."so it cant be that, it must be that...ok so it cant be that, it must be that...ok so it cant be that, it must be that... oh f*%k it, i'll just cram it all in the end and call it a 5th wave ext"... and of course that wouldnt be a sensible way to do things. I guess you really need to be right from the start, or at least pretty early on :)

[tpaulbeaumont] 02/2/2010 17:58

ah, but the key is knowing when its a disproportionate 5th wave, and when its not, and its something else :)