NexusFi: Find Your Edge


Home Menu

 





Ninjacators - Elliot Wave Analysis Tool Set


Discussion in Trading Reviews and Vendors

Updated
      Top Posters
    1. looks_one JonnyBoy with 5 posts (12 thanks)
    2. looks_two spideysteve with 4 posts (7 thanks)
    3. looks_3 Trailer Guy with 4 posts (3 thanks)
    4. looks_4 longshot99 with 3 posts (3 thanks)
      Best Posters
    1. looks_one JonnyBoy with 2.4 thanks per post
    2. looks_two spideysteve with 1.8 thanks per post
    3. looks_3 markbb10 with 1.5 thanks per post
    4. looks_4 longshot99 with 1 thanks per post
    1. trending_up 13,171 views
    2. thumb_up 34 thanks given
    3. group 7 followers
    1. forum 21 posts
    2. attach_file 0 attachments




 
Search this Thread

Ninjacators - Elliot Wave Analysis Tool Set

  #11 (permalink)
 longshot99 
uk
 
Experience: Intermediate
Platform: tradestation
Posts: 6 since Jul 2010
Thanks Given: 8
Thanks Received: 4


spideysteve View Post
I know a guy who bought this and got it running today. No, it wasn't me.

He sent me screen shots of what it looked like and had it running on various ES charts today. The 60m chart showed a 0-1-2 had started during the ON session and a larger 3rd wave was about to start to go long. He went to his smaller renko charts (I'm not sure of the setting he was using) and he pulled out around $1700 profit today (SIM as he just started using this indicator). He's a big EW guy anyways, (which I'm not really) so he found it useful. However, he is planning on using it for sim only for a week or so to see how it does in different market conditions.

Hi spideysteve,

I was wondering if you had heard anything back from the guy with regards to his finding's about using the Elliot wave tool set from ninjacators?

Thanks.

Reply With Quote
Thanked by:

Can you help answer these questions
from other members on NexusFi?
Are there any eval firms that allow you to sink to your …
Traders Hideout
Deepmoney LLM
Elite Quantitative GenAI/LLM
NT7 Indicator Script Troubleshooting - Camarilla Pivots
NinjaTrader
Better Renko Gaps
The Elite Circle
Exit Strategy
NinjaTrader
 
Best Threads (Most Thanked)
in the last 7 days on NexusFi
Get funded firms 2023/2024 - Any recommendations or word …
59 thanks
Funded Trader platforms
37 thanks
NexusFi site changelog and issues/problem reporting
24 thanks
GFIs1 1 DAX trade per day journal
22 thanks
The Program
19 thanks
  #12 (permalink)
 
DavidHP's Avatar
 DavidHP 
Isla Mujeres, MX
Legendary Market Wizard
 
Experience: Advanced
Platform: NinjaTrader
Broker: Ninjatrader / Optimus Futures / AmpFutures
Trading: ES / 6E / 6B / CL
Frequency: Every few days
Duration: Minutes
Posts: 1,609 since Aug 2009
Thanks Given: 11,328
Thanks Received: 2,743


markbb10 View Post
Hello ,

Ninjacators is pitching a elliot wave counting display bundle. Has anyone purchased this that can comment on it.

Thanks

I don't want to burst your bubble but the biggest issue with Elliot is that if you ask two people that use them, you will get a different wave count.
I've seen a lot of people use them and none of them are consistent from trader to trader.

I think the problem is that each person sees the waves differently and draws them differently.
The sales page on Ninjacators for Elliot Wave seems more like a sales pitch than a real trading tool.
I would be very careful spending $$ on this.

There is an Elliot drawing indicator here if you want to see if they work for you.


Rejoice in the Thunderstorms of Life . . .
Knowing it's not about Clouds or Wind. . .
But Learning to Dance in the Rain ! ! !
Follow me on Twitter Reply With Quote
Thanked by:
  #13 (permalink)
 
spideysteve's Avatar
 spideysteve 
Fort McMurray, AB Canada
 
Experience: Beginner
Platform: NT, MT4, Jigsaw
Broker: Continuum
Trading: ZN, ES
Posts: 154 since Mar 2015
Thanks Given: 363
Thanks Received: 170



longshot99 View Post
Hi spideysteve,

I was wondering if you had heard anything back from the guy with regards to his finding's about using the Elliot wave tool set from ninjacators?

Thanks.

I have talked to him about it yes.

There are some positives and negatives about it IMO. I’ll try to explain as best as I can, based on what he’s shown me.

Positive -
They put a lot of thought into it. If you are a person who likes to use EW then you will likely see a benefit.
They made it user-configureable for many of the settings.
You can use it on pretty much any time frame you want, including tick, volume, renko charts, etc
How it determines a 2 wave is actually quite good (if you’re correct, see below).

Negative -
You decide if the market is bullish or bearish. It doesn’t decide that for you. You can click either one on. If you think the market in your timeframe is going down, you need to click the bearish button and disable the bullish button. (This point is debatable whether it’s a positive or negative. I put it here because I think they weren’t up front about it in the sales pitch IIRC).
If you have both bull and bear clicked on, the chart is a giant mess.
If you have it on a 30m chart (as an example) you can’t display those levels on a 5m chart (I may be wrong, but that’s what it looks like from what I’ve seen).

In general, I wouldn’t bother using this on anything below a 60m chart. It does seem to project well on higher timeframes, including daily.

All of this is my opinion of course, based on seeing it in action via Skype.

HTH

Follow me on Twitter Reply With Quote
Thanked by:
  #14 (permalink)
 
JonnyBoy's Avatar
 JonnyBoy 
Montreal, Quebec
 
Experience: Advanced
Platform: NinjaTrader 8
Broker: Kinetick
Trading: ES
Posts: 1,561 since Apr 2012
Thanks Given: 706
Thanks Received: 3,854


DavidHP View Post
I don't want to burst your bubble but the biggest issue with Elliot is that if you ask two people that use them, you will get a different wave count.
I've seen a lot of people use them and none of them are consistent from trader to trader.

I think the problem is that each person sees the waves differently and draws them differently.
The sales page on Ninjacators for Elliot Wave seems more like a sales pitch than a real trading tool.
I would be very careful spending $$ on this.

There is an Elliot drawing indicator here if you want to see if they work for you.


You beat me to it! There is an Elliott Wave practitioner out there called Robert (Bob) McHugh. He uses Elliott Waves and is literally the worst (and I mean) the WORST at using Elliott Waves to "predict" the market. He has been touting a market top for YEARS.

He even wrote a book called The Coming Economic Ice Age back in 2013 predicting (via his trademark "jaws of death" trendlines and traditional Elliott Wave) when the market would finally roll over and send us back to the dark ages.

The market has literally gone from strength to strength in the meantime, and he just moves his count over and over and over. It is quite ridiculous.

I dabbled in Elliott Wave. In its ''traditional'' form it is total hocus pocus. I say traditional, because there is a proprietary application of Elliott Wave out there (which I use for my long term investment trading) which is highly predictive and accurate - leaps and bounds ahead of the ''traditional'' EW version.

--------------------------------------------------------
- Trade what you see. Invest in what you believe -
--------------------------------------------------------
Reply With Quote
Thanked by:
  #15 (permalink)
 longshot99 
uk
 
Experience: Intermediate
Platform: tradestation
Posts: 6 since Jul 2010
Thanks Given: 8
Thanks Received: 4


JonnyBoy View Post
You beat me to it! There is an Elliott Wave practitioner out there called Robert (Bob) McHugh. He uses Elliott Waves and is literally the worst (and I mean) the WORST at using Elliott Waves to "predict" the market. He has been touting a market top for YEARS.

He even wrote a book called The Coming Economic Ice Age back in 2013 predicting (via his trademark "jaws of death" trendlines and traditional Elliott Wave) when the market would finally roll over and send us back to the dark ages.

The market has literally gone from strength to strength in the meantime, and he just moves his count over and over and over. It is quite ridiculous.

I dabbled in Elliott Wave. In its ''traditional'' form it is total hocus pocus. I say traditional, because there is a proprietary application of Elliott Wave out there (which I use for my long term investment trading) which is highly predictive and accurate - leaps and bounds ahead of the ''traditional'' EW version.

Hi JonnyBoy,

I was wondering if you were able to provide any information on the proprietary application of Elliot Wave that you mentioned in your reply?

Thanks

Reply With Quote
Thanked by:
  #16 (permalink)
 
JonnyBoy's Avatar
 JonnyBoy 
Montreal, Quebec
 
Experience: Advanced
Platform: NinjaTrader 8
Broker: Kinetick
Trading: ES
Posts: 1,561 since Apr 2012
Thanks Given: 706
Thanks Received: 3,854


longshot99 View Post
Hi JonnyBoy,

I was wondering if you were able to provide any information on the proprietary application of Elliot Wave that you mentioned in your reply?

Thanks

Yes of course. It is called OEW, which is an Objective approach to the Elliott Wave Theory. It was started by a fine gentleman called Tony Caldero. Sadly, he passed away earlier this year but his daughter Christine has taken over the running of his business.

I cannot comment on her teachings vs. her fathers, but it does appear the OEW blog has changed a little recently and perhaps isn't as fulfilling or informative as it once was but there is PLENTY of information there.

I was taught by Tony at my own pace. He essentially passed on everything he had discovered about approaching the market from a long term, medium term and short term standpoint to his students. He was truly one of the nicest people in the world and will be deeply missed.

Towards his last few months he dialled back on the number of posts, but the blog is still updated weekly by his daughter. Although perhaps not as good as what Tony produced, the blog is still informative enough to perhaps not even require his lessons, but it was very worthwhile to me. OEW can accurately (when implemented correctly) forecast major tops and bottoms. It isn't the holy grail but IMO comes close.

I use OEW for my long term investments only. I am a day trader so I don't need to use OEW for the short term outlook and IMO would be too noisy.

https://caldaro.wordpress.com/

--------------------------------------------------------
- Trade what you see. Invest in what you believe -
--------------------------------------------------------
Reply With Quote
  #17 (permalink)
 Trailer Guy 
Aguanga, CA USA
 
Experience: Advanced
Platform: Ninja Trader 8
Broker: IB, NinjaTrader Brokerage, Schwab
Trading: ES
Posts: 215 since Sep 2014
Thanks Given: 68
Thanks Received: 387


JonnyBoy View Post
Yes of course. It is called OEW, which is an Objective approach to the Elliott Wave Theory. It was started by a fine gentleman called Tony Caldero. Sadly, he passed away earlier this year but his daughter Christine has taken over the running of his business.

I cannot comment on her teachings vs. her fathers, but it does appear the OEW blog has changed a little recently and perhaps isn't as fulfilling or informative as it once was but there is PLENTY of information there.

I was taught by Tony at my own pace. He essentially passed on everything he had discovered about approaching the market from a long term, medium term and short term standpoint to his students. He was truly one of the nicest people in the world and will be deeply missed.

Towards his last few months he dialled back on the number of posts, but the blog is still updated weekly by his daughter. Although perhaps not as good as what Tony produced, the blog is still informative enough to perhaps not even require his lessons, but it was very worthwhile to me. OEW can accurately (when implemented correctly) forecast major tops and bottoms. It isn't the holy grail but IMO comes close.

I use OEW for my long term investments only. I am a day trader so I don't need to use OEW for the short term outlook and IMO would be too noisy.

https://caldaro.wordpress.com/

I am, saddened by that news. I have read his web page from time to time.

For anyone who thinks this doesn't work there are a couple of practitioners out there on the internet who do very well. One of them occasionally posts his brokerage account. Last August at the begining of the month he set a large goal as a personal challenge and made it happen. Last month he again hit six figures trading the pullback using Elliot Wave counts.

Reply With Quote
Thanked by:
  #18 (permalink)
 longshot99 
uk
 
Experience: Intermediate
Platform: tradestation
Posts: 6 since Jul 2010
Thanks Given: 8
Thanks Received: 4


Trailer Guy View Post
I am, saddened by that news. I have read his web page from time to time.

For anyone who thinks this doesn't work there are a couple of practitioners out there on the internet who do very well. One of them occasionally posts his brokerage account. Last August at the begining of the month he set a large goal as a personal challenge and made it happen. Last month he again hit six figures trading the pullback using Elliot Wave counts.

Hi Trailer Guy,

Who are the couple of practitioners that you were talking about?

Thanks.

Reply With Quote
Thanked by:
  #19 (permalink)
 Trailer Guy 
Aguanga, CA USA
 
Experience: Advanced
Platform: Ninja Trader 8
Broker: IB, NinjaTrader Brokerage, Schwab
Trading: ES
Posts: 215 since Sep 2014
Thanks Given: 68
Thanks Received: 387


longshot99 View Post
Hi Trailer Guy,

Who are the couple of practitioners that you were talking about?

Thanks.

Coolbizone on Twitter and Pretzel Logic on his own site Pretzel Charts.

Reply With Quote
Thanked by:
  #20 (permalink)
 Trailer Guy 
Aguanga, CA USA
 
Experience: Advanced
Platform: Ninja Trader 8
Broker: IB, NinjaTrader Brokerage, Schwab
Trading: ES
Posts: 215 since Sep 2014
Thanks Given: 68
Thanks Received: 387



longshot99 View Post
Hi Trailer Guy,

Who are the couple of practitioners that you were talking about?

Thanks.

Sorry a bit more specific if you want to find him. He trades 20 ES contracts at a time incidentally, and has the guts to hold for several days. But as he says, always with a stop.

coolbiz1
@coolbizone

Reply With Quote
Thanked by:




Last Updated on January 5, 2020


© 2024 NexusFi™, s.a., All Rights Reserved.
Av Ricardo J. Alfaro, Century Tower, Panama City, Panama, Ph: +507 833-9432 (Panama and Intl), +1 888-312-3001 (USA and Canada)
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.
About Us - Contact Us - Site Rules, Acceptable Use, and Terms and Conditions - Privacy Policy - Downloads - Top
no new posts