Aget changing Ewave count incorrectly?

[Tekunda]

I desperately need some input here. I bought AdvancedGet primarily to support me with Elliot wave counting. But can I still trust the software after what has happened to me tonight?
I am trading Forex and AGet was telling me (in all time frames) that I was in a wave 4 retrace and everything looked good. Suddenly the Euro, I was long, started to head south, slowly a few pips, but since AGet was still showing a nice wave 4, I felt secure and did not leave the trade. Well, suddenly the Euro started to crash and I watched Aget change its wave count from wave 4 to a strong wave 3, while the Euro kept moving 20 points. Finally it seemed to have reached bottom and Aget was again showing the start of a wave 4 with a good PTI of 56. So I thought to go long, when again the Euro moved another 10 points and what did Aget do? The wave count was readjusted again to wave 3. Eventually we hit bottom for good and Aget is back in wave 4 retrace. So what is going on here?
I admit I have not worked with Aget for a very long time, so please bear with me, but I would have never thought possible that Aget would readjust its count to make it look good in hindsight. Now looking at the readjusted charts, it all looks perfect. When the crash happened, we had been in a wave 3 scenario for a long time, while Aget was showing wave 4 .

Please help me to understand. Either I do not know how to interpret the software correctly, or Aget is working improperly at times. To me it almost looks like that Aget is cheating with the Aget count. These are exactly the scenarios where a lot of money can be lost and that is why I bought Aget to help me avoid this.
So what was going on, what could I have done to avoid this debacle? Was I at fault or Aget counting the waves wrong?
It seems that in a regular moving market, Aget does a fabulous job, but I am not so sure anymore with Aget, when the market suddenly starts to take off in one direction and Aget is showing the opposite.
Every input will be highly anticipated and appreciated.

[Tekunda]

Now this sucks!!

Please read above scenario, since it is really getting worse now and I do not know whom to blame, me of the software.
Finally (after re-adjsuting the coundt several times) AGet was showing that a wave 4 retrace with 48 PTI has started and I went long. For quite a while it looked very promising, but while I typed above post, the Euro has moved lower again and what did AGet do?? It re-adjusted the wave count now for the third time. Three times now it was showing a nice wave 4 retrace, only to re-adjust it, when reality showed a different picture. Now we are in a strong wave 3 again. Is Aget cheating so to say, or am I not understanding the software properly?

[MR]

Dear Tekunda,

When you said all time frames are agreeing, what time frames are you specifically referencing to, a monthly, weekly, daily, or just an hourly, 15, 5 or 1 minute? Are you referring to EUR A0-FX? How long have you had the program? How long have you been trading the Forex? Are you using the 5/35, 10/70, and/o 5/17 Oscillators in your setup analysis? What other tools are you using to confirm you trade setup? As soon as I can get a better handle on the current approach you are attempting to use to define your trade ideas I will get back with you with some ideas to help you better anticipate these changes.

[gspiker]

Tekunda,

Hi. This is the way Aget works. Think of it as a elliott analyst who readjusts his count based on new information.

Aget has a lot of rules on how/when to enter. Some of them can be found at the fileshare HERE .

It took me a bit of time to understand that elliott is just a small part of AGET...and that to a purist their count isn't always correct. But that isn't what AGET is about. Its about taking a set of rules that work with the indicators they provide and using it to trade. Once you understand this, then AGET becomes a very useful tool.


Garth

[fabrizio]

Originally posted by gspiker
Tekunda,

Hi. This is the way Aget works. Think of it as a elliott analyst who readjusts his count based on new information.

Aget has a lot of rules on how/when to enter. Some of them can be found at the fileshare HERE .

It took me a bit of time to understand that elliott is just a small part of AGET...and that to a purist their count isn't always correct. But that isn't what AGET is about. Its about taking a set of rules that work with the indicators they provide and using it to trade. Once you understand this, then AGET becomes a very useful tool.


Garth

Tekunda

you have the suggestions of two pros: Marcus and Garth . Please , note the Gart's holy words I outlined in bold red !!
Please Read THOROUGHFULLY the material available in the MARCUS GROUP and in the Manual : Marcus is a Living example of any kind of situation in AGET ( other than a wonderfull person)
Take the WHOLE PICTURE: Aget is made to MAKE MONEY .

Elliot wave count in RT was controversial for Elliot himself.........
perfect ex post.

So Apply yourself in study and practice some papertrade with Aget. You'll see it work as its best.

And wash your mind from the previous ideas: folllow Marcus ABC.

May I ? Watch out the Forex, you got one more variable: the MM and your broker...........

[SERGIO.M]

Dear Tekunda,
I agree with Fabrizio in suggesting to read all the available material.
Me too I work on forex and I am following the cross EUR A0-FX and I can say that the movement thanks to Aget could be foreseen if you would analyzed the daily chart using "localize Elliot" (see the enclosed chart). Now it seems to have reached its aim, respecting all the rules of Aget (divergence osc 5-35, the price arrived to the mob projected from wave 3).
Furthermore now all the lower time frames seem to have achieved the muvement with the same charachteristics as the daily chart. I usually work start my analysis with Aget starting from chart weekly, then chart daily than time frame intraday.

If you want we can discuss about forex.

Regards

Sergio

[Tekunda]

Ewave counting

Thank you all for taking the time to answer.
Marc, I have owned the program for 2 weeks now. I know this is not a lot, but I was buying the programm mainly to get a sensible Ewave count. I am a member of a Forex group, whose participants lmostly ook at Ewave for their trading and come up with pretty accurate ewave counts. Sometimes there is a disagreement though, and I thought that a software is better predestined to count ewaves correctly than a human being.
There is one Japanese guy in particular who has been able to predict the Elliott waves in EUR (yes I trade the EUR AO-FX) and the GBP with utmost astonishing results, not only the level of movement, but also the timing. Sometimes he was only minutes off, when a currency started to move.
Well, since he had studied counting Ewaves for almost 5 years and I cannot even come close to these 5 years, I thought I get AGet to analyze the wave pattern. Do not get me wrong, I know that AdvancedGet is much more than Elliott wave counting and I do not want to put Aget down in general. But I decided to buy it beacuse of its supposed ability to count ewaves better than most human beings can. So if it is "adjusting its count based on new information", we have a problem here in my opinion.
If I have entered a trade because of the pattern AGet presents to me, then for me the time to readjust my trade is over. Even a human Ewave analyst, if he is a trader and enters a position, will admit that it is pretty useless to re-adjust the count, once a trade has been opened.
Yes, it might help the statistics and looks nice at hindsight if, after readjusting the counts is correct again, but what does it help you with an ongoing trade?
This is like boarding an express train only to find out that, after the train has left the sation , you are on the wrong train. Sure it is nice to know and you can leave the train, but only at the next station. So in my case as a Forex trader, I can leave the train, but only after huge damage has been done.
Maybe I do not grasp the concept of this software though, but to me, it seems useless from an Elliott wave counting perspective, if the counts are being adjusted. I need to know the exact count beforehand, or the software should be able to present different scnearios. But changing the count while a trade is going on can be bad, very bad for my wallet. Forex is a very fast moving market. So like today, withing 10 minutes you can loose thousands of dollars.
I understand that even Elliott had his problems counting waves, but I rather have the software count it wrong than re-adjusting.
How am I supposed to know next time, if the wave count is correct or if Aget will change it again while the trade is going on? I need a point of reference and if Aget is moving this point, how am I to find out which way before I trade? As I said, once I enter a trade based on the momentary picure Aget is giving me, it is too late to re-adjust for me.

To answer your further questions Mark: I have looked at daily, 60 minutes and all the way to 5 minutes time frames. The Oscillator I was using was the Elliott 5, 35 Oscillator and the DMA.

[Tekunda]

Paging Sergio M.

Sergio, very impressive graph.

I am always ready to learn to improve my knowledge.
So if it is not the software it must be me and Iwould like to change this then.

Would you please contact me by email:

[email protected]

in order to babysit me a little bit through the most important steps to use this software for Forex. Like where to start a localized count, where to find the points for MOB or the eclipse and how to work your way from a monthly to daily perspective.
I would be extremely grateful for any support of yours (and of course am grateful for all the support I have already received so far)

[MR]

Forex Euro Help Question (eSignal symbol = EUR A0-FX)

Tonight I will post a more detailed analysis.

Until I can complete this analysis, please reference to an hourly EUR A0-FX posted before vacation.
August 8th I observed and posted an aggressive Forex Euro hourly Type 1 Sell setup. (click here)
Below is a current update showing what happened.

Serio.M's daily chart [see 3 posts below this one] shows a Wave 4; a possible late July, early August EUR A0-FX Type 1 Sell setup.

One thing to be addressed-- how to better differentiate a Wave 4 STILL IN PROGRESS from a Wave 4 COMPLETED.

- marc

[MR]

Forex Euro sample analysis

Here is the promised more detailed Forex Euro sample.

[MR]

Fabrizio,

Again, much thanks for your very kind words. Deeply appreciate it.

[mickson]

NOT AS POLITE

Hi Tekunda,

I must say that I think you need to re-examine your motives for buying this software. Being a true Elliott technician is hard work. I am not sure how long you have been trading the Elliott Wave Principle for but I kind of get the impression that you are taking the lazy mans wayout.

If you follow the masters Bob Prechter and Steve Hochberg these guys are constantly re-working the wave counts.

I think a software like this is appropriate for Elliott styled traders who are trying to cover a large number of markets. Otherwise stick to the manual wave counting and back yourself.

Regards

Mike

[Tekunda]

Thank you Marc

Because of guys like you, who take time to answer even naive rookie questions, I feel at home at this forum. It is so easy to condemn, like the previous poster did, not knowing my background or any of my motives, and it serves no educational purpose.
But due to your replies and charts I have a much better feeling finally for what the software offers and now I can start from here to fill up my "knowledge tank".
I have two final questions though: Are the any other, really in-depth teaching videos available for sale - I would not mind paying for good education - aside from the ones which you pointed me to?
And since you stopped at a hourly chart, is, in your opinion, Aget suited for an intra daytrader like me? Wave three of your hourly chart is showing huge intra day potential of sometimes 100 to 200 pips per day. I am not a long term type of investor, but interested in making a certain number (not a scalper though) of pips per day, seldom holding a position overnight or over the weekend.
If you feel that Aget is suited for my style of trading (again not a scalper type looking for 10 trades with a few pips each, but for the nice 20 to 40 point intra day trade possibility) could you do me one last big favor? Would you prepare another Euro chart, now only scaled down to an intraday scale with the tools an settings you would use for this short term trading?
Would I have to go through all the short time frames (30-10-5-1 minutes), as di in your charts when you scaled down from a monthly chart to an hourly chart?
Would this be the best way to confirm a short term trade, by going from a monthly chart all the way down to a 1 minute chart, or do other rules apply for intraday trades?
And again, I would by extreme grateful if you could post these charts also for me to study.
Thank you so much again Marc.

[JayF]

Tekunda,

If I may interject something to help on your question about Advanced Get and intraday trading compatibility. Here is a movie from one of the Advanced Get educators, which demonstrates how these tools can be used on an intraday basis trading the E-mini's.

[MR]

Hi Tekunda,

Because of guys like you, who take time to answer even naive rookie questions, I feel at home at this forum.

Yes there are some very good people in this forum. Very appreciative for the positive direction we are heading.
Attracting quality, helpful traders from around the world.

Are the any other, really in-depth teaching videos available for sale

There are some older AGET seminar video tapes available. For details,
please call Mike Kriedler @ (330) 645- 0077. He is very helpful.

since you stopped at a hourly chart, is, in your opinion, Aget suited for an intra daytrader like me?

AGET is suited for any style of trading, some styles are easier than others to master is the difference.
I only stopped at the hourly EUR A0-FX because it was after midnight and I had to go to bed. Will later
introduce more helpful intraday trading tips and tricks. click here for more Cross-referencing examples

Would I have to go through all the short time frames (30-10-5-1 minutes),
as did in your charts when you scaled down from a monthly chart to an hourly chart?

Yes and no. Technically, no. It is possible to just look at one or two time frames and generate a winning trade setup.
If you want to generate the best results then, yes, I would recommend cross-referencing.

Wait until the markets are close. Free yourself from distractions. Do as complete cross-referenced analysis as you can.
After that, just glance daily at the higher time frames, focus daily on your day trade parameters. On weekends do
updates. Delete periodically tools applied on short time frames. You want to maintain clean, usable, uncluttered charts.