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Ninjacators - Elliot Wave Analysis Tool Set
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Ninjacators - Elliot Wave Analysis Tool Set

  #11 (permalink)
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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.

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  #12 (permalink)
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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.

https://futures.io/local_links.php?action=ratelink&catid=27&linkid=2004

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  #13 (permalink)
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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. Iíll try to explain as best as I can, based on what heís 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 youíre correct, see below).

Negative -
You decide if the market is bullish or bearish. It doesnít 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 itís a positive or negative. I put it here because I think they werenít 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 canít display those levels on a 5m chart (I may be wrong, but thatís what it looks like from what Iíve seen).

In general, I wouldnít 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

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  #14 (permalink)
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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.

https://futures.io/local_links.php?action=ratelink&catid=27&linkid=2004

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.

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  #15 (permalink)
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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

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  #16 (permalink)
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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/

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  #17 (permalink)
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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.

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  #18 (permalink)
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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.

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  #19 (permalink)
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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.

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  #20 (permalink)
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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

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