GET Scanner / Charting Questions

[SiriusBlack]

Last night I ran a scan for possible Type I buys (Daily)

Most of the Charts when referenced with weekly and/or hourly did not match up (at least to me), Daily looked like a buy while weekly and hourly looked like a sell. (The Wave channels were above W4)

Can someone point me in the right direction of looking for good entry/exit points, and possibly some good strategies using Elliot Waves and the other AGET tools.

I am looking to convert my current strategy to more technical analysis, my win loss ratio is currently at 55/45 and would like to move in closer to 70/30

Thanks...

[soylent]

You're right -- it's a rather rag-tag looking list of stocks. I tried doing a scan using the 'web browser' mode and that gave me a MUCH better list of TYPE 1's but the internal 'scan' window in 7.5 produced gunk. (Anyone at esignal know if there's a problem?)

Here's some that looked nice using the webbrowser mode:
Q
NXTL
RHAT
MSFT
ORCL

None of these have triggered a buy yet -- but, technically, they look very strong for a buy in the next 1-3 days.

Here's one that looks like a good buy now:
UPL

Even though it hasn't broken the 6/4, I like it when it's this strong and on a support (50-day) because I can set my stop for zero tolerance.

I'd still wait until the indexes stop correcting before I buy anything though. The S&P is begging to drop to 1100...

Hmm -- I ran another scan: QQQ showed up as a 'Breakout XTL BLUE' scan. That is so unplausible I'm thinking something must be wrong w/ the AGET Scanner...

As for strategies: Take a look at some of the last several posts. Most of them are pointing you to 'how to use aget'.

Best of luck!

[SiriusBlack]

On the hourly chart, what should the Elliot waves be set at, normal, aggressive, etc...?

Thanks.

[soylent]

Aggressive vs. Original?

You know... I've been back and forth on this but, personally, I think as long as you 'localize', it doesn't really matter.

You're probably better off w/ the Original but everyone I see seems to use aggressive. I haven't seen a difference in my testing as long as the OSC 5/35 sets up properly and you localize.

Basically, I do this by localizing to the last pullback to or near zero on the 5/35. I like 'original' because I like the look of round blue circles vs. red squares. (hmmm -- scientific).

Has anyone seen a manual on the other oscillators and how to use them instead of / in addition to 5/35?

Thanks all!

p.s. That UPL I mentioned sure went UGLY today! I guess that says: Don't violate the setup rules requiring a channel / dma line break...

[hermit]

Hi, I am new to AdvGet. What does "localize" mean?
Thanks. Fred.

[soylent]

Localize

LOCALIZE allows you to tell eSignal/AGET where YOU think the Wave1/2 setup starts.

eSignal still makes sure it finds a valid wave1/2 combination but, it will start analyzing the waves from whereever you click.

(Select LINES->Localize)

I do this by looking at the 5/35 and localizing to the nearest pullback to zero / near zero. (When the oscillator goes flat)

An example of this would be w/ QQQ right now. QQQ is in a very long Wave that started in March 2003 and is labeled as a 'wave 5' currently.

The nice thing about localizing is: I can click on mid-december and create a new 1/2/3/4 wave sequence and use that as my basis for a type-1 trade vs. the count starting back in March 2003.

Fabrizio has lots to say about the importance of localizing -- I agree. It seems to be the ONLY way to really trade the waves and I think is overlooked in describing the uses for AGET.

[SiriusBlack]

I will look into localizing tonight, can i send you a PM if i have any troubles?

So if the Hourly chart and the Daily chart has reversed the wave channels, skip it and move on?

Thank you for your help

[soylent]

Daily/Hourly: It depends on your timeframe.

Fabrizio says a lot of good stuff --- so does Marcus / Harndog (and others!). Read all their posts. It's important you 'really understand' before you commit real money.

If I'm trading 60-Min, I'm looking for a DAILY trend in my direction -- not necessarily a wave 4/5 on daily. If I'm trading DAILY, I'm looking at WEEKLY trend.

It's great to find a 60/D that align on a Type 1. But, usually, you'll be in some other type of 60M buy. Like XTL Trend on D and Type 1 on 60.

If you're new -- I'd spend AT LEAST a week just 'studying' all this. Honestly! Then, use bar-replay to see if you can predict where / how to use AGET sucessfully. The indicators in AGET are misleading (e.g. it will happily label a wave 4/5 that is not even close to being one... use the oscillator and localize and use the wave4 channels and use the PTI...).

Finally: Start w/ megacaps. Look at stocks trading > 5Million shares per day. They will move more slowly and predictablty than smaller (< 1 Mill/day) stocks.

Finally-Finally: BE PATIENT!!! You -will not- find a good trade every day -- sometimes several days. When you start forcing trades you will blow them.

Good luck! And, feel free to PM.