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it was an "execution" problem, not a "strategy" problem Oh, really? I suggest you go back and reread the S&P forecasts from March thru May where Neely was consistently calling for an imminent renewed decline to below 400. The strategy for his subscribers was to be positioned for "a 400+ point decline within 1-3 months" which "would bring with it untold economic misery and suffering".
Toggle Commented Nov 10, 2009 on Last Chance is Not Done at Planet Yelnick
I think God is a geometer and the markets dance with it BEYOND BELIEF That's my feeling also as the underlying geometry does seem to represent a higher order than is expressed in the waves themselves.
Toggle Commented Nov 10, 2009 on Last Chance is Not Done at Planet Yelnick
simple crap like MA-crossovers ... Yeah, that's WAY more sophisticated than the 70 pages of rules making up Chapter 3 of Mastering Elliott Wave, the other 200+ pages of that book explaining the rules in more detail and the hundreds of pages of Question of the Week additions to those rules Sometimes so called simple methods are best as using an MA crossover would have kept you in the long trade from the March lows for much of the time. Remind me again, of just how much NeoWave subscribers have lost since March by betting against the trend using their 70 pages of rules?
Toggle Commented Nov 10, 2009 on Last Chance is Not Done at Planet Yelnick
I get the distinct impression that Daneric has closer links with EWI than he lets on as there's just not enough band width in the day to run the site, trade and have a full time, non-market related job all at the same time. And if he doesn't trade, as has been suggested, then what's the point unless he's receiving outside support?
Toggle Commented Nov 9, 2009 on Dollar is Not Done at Planet Yelnick
It does this better than any other technical analysis system because it is all-encompassing and solely based on price action I admire your persistance in puffing up the positive but the fact remains that your favoured methodology has lost money for its followers during one of the biggest bull runs in the history of the market.
Toggle Commented Nov 6, 2009 on Free Week! at Planet Yelnick
The most valid set of rules is the one that requires the fewest count changes, which enables the most consistent trading on the timeframe you are labeling Surely it's the set of rules that maximises trading returns? Following the Neely method since March has resulted in an overall net loss during one of the biggest bull runs in history.
Toggle Commented Nov 5, 2009 on Free Week! at Planet Yelnick
DG Wave-counting needs to be done in adherence to strict rules or else it just becomes subjective Why do you think your rules are any more valid than anyone elses? Or do you know for sure that the market carries a rule book in it's back pocket?
Toggle Commented Nov 5, 2009 on Free Week! at Planet Yelnick
This is Neely's take based on a recent Question of the Week answer: In the 25 years I've been in this business, I have never worked on or considered producing such a product. Why? It is a waste of time. Like all things in nature, wave theory grows, expands, evolves. Computers can only do what they are told. They can't think, reason, deduce, induce or adapt. If I had gone to the trouble, in 1987 (when I started Mastering Elliott Wave - MEW), to enter every rule and concept presented in my book, by the time the project was concluded (which could have been 1-2 decades later), the market had "moved on," producing new, more complex and unusual patterns (such as NEoWave Diametrics, Neutral Triangles, Symmetricals, 3rd Extension Terminals and other pattern variations not discussed in MEW). As a result, to produce good wave counts, many additional months or years would have been required to tell the computer how to interpret and identify all those new patterns. Once that was finished, new behavior or environments would have emerged to cause the project to continue, ad infinitum. On the other hand, the human mind can extrapolate, interpolate, induce, deduce, reason, brainstorm, curve fit, rationalize and adapt very quickly. For that reason, if you simply take the time to learn and understand the basics of Elliott Wave and the advanced logic and confirmation rules and concepts of NEoWave, you can (on the fly) adapt and logically combine information in new and complex ways that a computer could never do. As a result, spending the time to learn Elliott Wave and NEoWave concepts is easier, more useful and more effective than spending years trying to get a computer to understand, interpret, label and forecast the future based on past standards of behavior.
Toggle Commented Nov 3, 2009 on Computerizing Wave Theory at Planet Yelnick