Anyone use Elliott Wave ? - Emini Index Futures Trading | futures io social day trading
futures io futures trading


Anyone use Elliott Wave ?
Updated: Views / Replies:6,622 / 85
Created: by smb2222 Attachments:61

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 90,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors Ė all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you donít need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

Reply
 61  
 
Thread Tools Search this Thread
 

Anyone use Elliott Wave ?

  #81 (permalink)
Trading for Fun
Montreal
 
Futures Experience: Master
Platform: Ninjatrader 7
Broker/Data: Interactive Brokers
Favorite Futures: YM and ES
 
Posts: 59 since Oct 2009
Thanks: 3 given, 45 received


smb2222 View Post
Thanks for putting things into perspective Larry. I posted my long counts on a previous post the other day so I still have them in the back of my mind. Hope I didn't sound too cocky, that certainly wasn't my intention. I've been humbled by the market many times, so I just try to trade the subdivisions until it figures out what it's going to do. I've decided to only trade the beginning of corrections instead of the ends for now. I seem to do better during impulse wave counts. Corrections are a lot harder to nail for me right now. Unless it looks like a clear zigzag and falls into context. Then I'll take a stab at it.

Larry, on a side note. When you first started, how many lots did you trade and for how long? When did you get to the point where you felt comfortabel bracketing and adding more lots?

BTW, Look at that scary looking head and shoulders. I've seen some come to fruition and some just fake everyone out, but look at how the last one played out to the left. Interesting, we shall see.

I work at the bank of a well known retailer and our stock plunged 17% after hours when we released our numbers. I see some major storm clouds coming and I'm having trouble seeing how we can go to knew highs. It's been a blood bath in retail and energy earnings lately. But since EW is linked to social mood, all it would take is a positive comment from the FED to push it up to a peak. If it did, I'd be willing to bet it will be with an ending diagonal and then a serious crash. Just my 2 cents. It will be interesting that's for sure my friend

Cheers

Thanks for any feedback.



First everything you have written so far is quite relevant and in no way you should think that the counts that I am posting here are the right ones or the ones that should unfold (who am I anyway, just 1 pair of eyes, market will always go where it wants to, no matter what you can think or hope for). I have learned over the years that even if you think you have the perfect count, market can play tricks on you, so as long as a count has the basic guidelines of EW principles it can be considered as a valid one. I encourage anyone that wants to post their count here to do so, this is not a competition count thread it is one for sharing the way we see markets based on EW.

When I started trading I did not use EW and tried all sort of things and traded lots of markets and mostly 2 to 3 lots at most and I was not very succesfull at it. I then decided to study EW, that took me a few years part time as I will still working full time. When I finally started feeling comfortable I traded 2 lots then 4 at most I think 6 was the most I traded. Could I trade more ? Yes but for now I don't feel the need to do it as I feel comfortable that way. I mostly trade when I see possible end of wave 2 or B scenario as the 3C leg is always the most rewarding one I will occasionally trade corrective patterns as long as my indicators are showing strength in that direction.

Lastly I rarely try to make a correlation with EW and what is said in the newspaper or economics as I have seen too many times the market doing the opposite of what it was suppose to do based on these facts, of course it was not against EW. anyway most of the times when we are near these potential big reversals markets are often at 50/50 counts scenario so you need indicators to help you out and even then you need to pick your trades accordingly to low risk and high probabilities that is the only way you will survive the market.

I hope this will help you out.

Larry


Last edited by Larry; May 15th, 2016 at 11:57 AM. Reason: added something
Reply With Quote
The following user says Thank You to Larry for this post:
 
  #82 (permalink)
Trading Apprentice
Huntington Beach-Ca
 
Futures Experience: Intermediate
Platform: S5Trader-Sierra-Motivewve
Broker/Data: STAGE5-GAIN
Favorite Futures: YM-ZN
 
Posts: 41 since Mar 2016
Thanks: 26 given, 14 received

Good Advice


Larry View Post


First everything you have written so far is quite relevant and in no way you should think that the counts that I am posting here are the right ones or the ones that should unfold (who am I anyway, just 1 pair of eyes, market will always go where it wants to, no matter what you can think or hope for). I have learned over the years that even if you think you have the perfect count, market can play tricks on you, so as long as a count has the basic guidelines of EW principles it can be considered as a valid one. I encourage anyone that wants to post their count here to do so, this is not a competition count thread it is one for sharing the way we see markets based on EW.

When I started trading I did not use EW and tried all sort of things and traded lots of markets and mostly 2 to 3 lots at most and I was not very succesfull at it. I then decided to study EW, that took me a few years part time as I will still working full time. When I finally started feeling comfortable I traded 2 lots then 4 at most I think 6 was the most I traded. Could I trade more ? Yes but for now I don't feel the need to do it as I feel comfortable that way. I mostly trade when I see possible end of wave 2 or B scenario as the 3C leg is always the most rewarding one I will occasionally trade corrective patterns as long as my indicators are showing strength in that direction.

Lastly I rarely try to make a correlation with EW and what is said in the newspaper or economics as I have seen too many times the market doing the opposite of what it was suppose to do based on these facts, of course it was not against EW. anyway most of the times when we are near these potential big reversals markets are often at 50/50 counts scenario so you need indicators to help you out and even then you need to pick your trades accordingly to low risk and high probabilities that is the only way you will survive the market.

I hope this will help you out.

Larry

Thanks again Larry. I think many will get some good use out of this thread. I hope others will decide to post thier counts or questions. Thanks for taking the time to respond

Have a great Sunday

Reply With Quote
 
  #83 (permalink)
Trading Apprentice
Huntington Beach-Ca
 
Futures Experience: Intermediate
Platform: S5Trader-Sierra-Motivewve
Broker/Data: STAGE5-GAIN
Favorite Futures: YM-ZN
 
Posts: 41 since Mar 2016
Thanks: 26 given, 14 received

Current Count


Hey guys,

This last slow grind lower this last month really looks and feels like to me a Wave 4 retrace. Wave A is exactly the lenght of Wave C on this latest correction. My primary count is that we are starting a wave 5 up to new highs and then the carnage shall begin. It just doesn't have the characteristics of a wave 2 down.

Of course it could do anything, but I'd love to see others counts on this

Happy trading everyone

Attached Thumbnails
Anyone use Elliott Wave ?-ymm6-futures-io-05-26-16-8-hour-.png  
Reply With Quote
 
  #84 (permalink)
Elite Member
knoxville tennessee usa
 
Futures Experience: Advanced
Platform: nijia trader
Broker/Data: A.M.P. I.Q. ....C.Q.G.
Favorite Futures: ym
 
Posts: 415 since Mar 2012
Thanks: 85 given, 172 received

i used them but....

i have problems...1. time frames 2 braking them down into smaller ones 3 flats 4 x waves... i took a trail on motive wave ...the tools were cool but did not solve the problem.

Reply With Quote
 
  #85 (permalink)
Trading for Fun
Phoenix, AZ
 
Futures Experience: Intermediate
Platform: NinjaTrader, TradingView
Broker/Data: AMP CQG and TradingView
Favorite Futures: Nasdaq NQ
 
Posts: 55 since Feb 2016
Thanks: 3 given, 18 received


forgiven View Post
i have problems...1. time frames 2 braking them down into smaller ones 3 flats 4 x waves... i took a trail on motive wave ...the tools were cool but did not solve the problem.

For me, the timeframes go up and down slightly as volume and range increase and decrease. For example, right after the Nov 8 election, volume and range was huge and even a 2 min chart was challenging to find good risk opportunities. Fast forward to the week before holidays and last week between holidays and a 10 min chart looks like that 2 min chart from 2 months ago.

A few books recommend doing multiples of 4x and 5x between timeframes. I personally prefer 3x. For example a 3 min and 10 min chart. Or a 2 min and 5 min chart.

Flat patterns can require patience because the C leg can expand to 2x the height of the A leg. It just takes patience to let the C leg unfold to the size it wants to.
Use trend channels with a 50% line and you can often guess the geometry of the completed pattern as the B leg terminates.
Use a good oscillator that you are very practiced and familiar with and can read like a book. That will help you determine timing.

For me, price character (overlap between swings, overlap between bars) is the most important thing. The oscillator patterns then confirm what I am interpreting. If I can get price character correct (corrective vs. motive) just by looking at overlap and using a process of elimination, I can be prepared for how many swings are left in a corrective pattern.

X waves are just a convention for labeling. If you can identify a structure with a corrective character, then there should be balance to the wave in the direction of trend. The corrections against trend just get grouped into X waves - and they can be steep in price sometimes. There should almost always be a strong centering move, even in a corrective structure. From there the beginning and ending waves usually balance in proportional price range and oscillator momentum before the next motive wave begins. Look for and anticipate Price and Momentum Balance in a structure first around a centering move. The labeling is just convention to keep track of things.

Hope that helps some.

Reply With Quote
The following 2 users say Thank You to cpuz for this post:
 
  #86 (permalink)
Trading Apprentice
Toronto,Ontario, Canada
 
Futures Experience: Intermediate
Platform: metatrader
Favorite Futures: NG
 
Posts: 1 since Feb 2017
Thanks: 1 given, 0 received

Elliot wave for NG trading

Is anyone using EW for trading Natural Gas , would like to interact .

Reply With Quote

Reply



futures io > > > > Anyone use Elliott Wave ?

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)

FuturesTrader71: TBA

Elite only

Al Brooks: TBA

Elite only

Jigsaw Trading: TBA

Oct 19

RandBots: TBA

Oct 24
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
Elliott Wave Theory and Patterns Fat Tails MTPredictor 82 October 20th, 2016 07:06 PM
Sillywave's Journal (Elliott Wave style) silly Trading Journals 12 April 10th, 2016 01:47 AM
ELWave, Elliott wave software yngtrader Trading Reviews and Vendors 1 December 30th, 2014 03:33 PM
Elliott Wave Study trendfriendpa Sierra Chart 2 May 12th, 2013 03:54 PM
Free Elliott Wave Software Poocher Off-Topic 0 December 2nd, 2010 09:40 PM


All times are GMT -4. The time now is 12:06 AM.

Copyright © 2017 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts
Page generated 2017-09-23 in 0.13 seconds with 20 queries on phoenix via your IP 54.224.158.232