Elliot Wave Retracements (ABC)

[Philby]

Following Wave 5 we get the ABC correction. In addition the GET manual suggests staying out of the market during the corrective stage as well as waves 1 & 2 as these are also hard to identify and have low profit potential.

I understand this and that waves 3 & 5 are the high potential profit waves.

Once Wave 5 is over, can anybody shed some light or reference on how to monitor a stock to identify when the corrective pattern and Wave 1 & 2 are over and it is time to get back into a more active monitoring mode as wave 3 has begun etc.

I am finding that I think I have a pattern showing the end of the corrective mode and that wave 3 has begun with all my signals looking OK but then GET renumbers and shows another corrective ABC pattern.

Enen looking at the higher weekly level the pattern often looks good but gets relabelled.

This is one of the frustrations of GET.

What indicators assist in telling me that the correction is not over and that the stock is channelling flat ?

[soylent]

Hi Philby --

I went through the same frustrations w/ GET.

Hopefully, someone w/ better knowledge than I have answers this, too. But, here's my take:

ONLY BUY A PERFECT MATCH! (Which has been repeated here 100 times, so I won't go into what that is...) But...

I was watching an online video of GET on "Trading the e-mini's" This is the absolute BEST TUTORIAL I've ever seen on GET. In the demo, it runs on 3-min bars for a 4 day trading window -- but, 1 second per bar. The narrarator takes you through the 'frustrations' you (and I) have felt as the waves constantly get renumbered.

Anyhow, point is:
a) Watch the video. I've seen it twice and love it! I keep picking up nuances.
b) The main point made is:
1) Trading ranges 'happen' -- and don't get caught in them -- just switch to stochastics temporarily if you can't sit on your hands
2) Look for a '140%' break on the 5/35 oscillator to show a new wave in progress in the opposite direction.
3) If buying the wave 4/5 and it 'isn't going up as predicted' (e.g. sideways)-- get out! Don't let your money be tied up / risked on something that isn't following through. (i.e. may be a a/b/c or something worse)

The video mostly concentrates on Type 1. But, it does touch on Type 2 and XTL.

Watch it -- it's helped me immensely and may answer your question? Or, help you understand when to use elliott and when not to (the narrarator is quite clear, "Now, here's a spot you just don't want to use elliott waves".)

[DuaneG]

Hi Philby,

As I type, I'm in L.A. going through the Advanced Get Trading Strategies class and have yet to be disappointed. The XTL and Advanced Get stochastic have been incredible indicators as to how certain studies are applied to different circumstances, i.e. market corrections and trending versus non trending. Personally I have found the XTL indicator and fib extensions quite enlightening as to when I should be pulling the trigger and when I should bypassing the trade. The videos are also invaluable and definitely worth the viewing time. Thought I would pass along the resource info.

[donv]

Hi Duane.

I don't see a specific "trading strategies" class at the link you posted, I see various classes on MOB,ellipse,XTL,6/4 DMA etc. But nothing specific on "trading strategies"

I would like to suggest direct links to these training lessons be posted in messages. In the past the the link usually just points to e-signal university/AGET general page. Unfortunately the description or link in the post is usually called something else than what is listed on the E-signal university page.

donv

[Philby]

Soylent,

Thanks for the tip - I have been working my way through the online tutorials and have seen the eminin tute but skipped it as I am trading the Australian market. Given your comments I think I need to look at it as a matter of priority.

Thanks

Originally posted by soylent
Hi Philby --

I went through the same frustrations w/ GET.

Hopefully, someone w/ better knowledge than I have answers this, too. But, here's my take:

ONLY BUY A PERFECT MATCH! (Which has been repeated here 100 times, so I won't go into what that is...) But...

I was watching an online video of GET on "Trading the e-mini's" This is the absolute BEST TUTORIAL I've ever seen on GET. In the demo, it runs on 3-min bars for a 4 day trading window -- but, 1 second per bar. The narrarator takes you through the 'frustrations' you (and I) have felt as the waves constantly get renumbered.

Anyhow, point is:
a) Watch the video. I've seen it twice and love it! I keep picking up nuances.
b) The main point made is:
1) Trading ranges 'happen' -- and don't get caught in them -- just switch to stochastics temporarily if you can't sit on your hands
2) Look for a '140%' break on the 5/35 oscillator to show a new wave in progress in the opposite direction.
3) If buying the wave 4/5 and it 'isn't going up as predicted' (e.g. sideways)-- get out! Don't let your money be tied up / risked on something that isn't following through. (i.e. may be a a/b/c or something worse)

The video mostly concentrates on Type 1. But, it does touch on Type 2 and XTL.

Watch it -- it's helped me immensely and may answer your question? Or, help you understand when to use elliott and when not to (the narrarator is quite clear, "Now, here's a spot you just don't want to use elliott waves".)

[Philby]

Duane,

I am interested in your comment on the video's - I have written three letters to eSignal about recent references to GET video's and each response has been that they know nothing about GET training video's.

Clearly you have some - Can you let me know where you got them from etc. so I can follow them up please

Originally posted by DuaneG
Hi Philby,

As I type, I'm in L.A. going through the Advanced Get Trading Strategies class and have yet to be disappointed. The XTL and Advanced Get stochastic have been incredible indicators as to how certain studies are applied to different circumstances, i.e. market corrections and trending versus non trending. Personally I have found the XTL indicator and fib extensions quite enlightening as to when I should be pulling the trigger and when I should bypassing the trade. The videos are also invaluable and definitely worth the viewing time. Thought I would pass along the resource info.

[AndyS]

Hi Philby,

We do have videos that we sell. If you could pm me your Customer Identification Number, I'll look into what may have happened to the response you received stating that we don't.

Shortly, we will be releasing an updated version of the video's on DVD. Looking like 2nd quarter of this year before they are ready for release.

Regards,
Andy

[soylent]

Hi Andy --

If you could -- please put a link here or point us to all the AGET info available / (free or for sale)?

The WEBX Videos are fantastic! I'm not sure what else I'd learn but if you have an 'Advanced advanced get' manual -- that would be great. (e.g. I heard in one webx video, "Well, if after 13 bars its not going your way, get out. But that's an advanced topic". So... I'd love to read / watch the advanced stuff?)

Also: I really loved the EMINI one because there is no one asking, "Where's my regression trend channel feature?" I'm scared of taking the onsite training seminars because I can just imagine 4 hours of questions explaining BID/ASK...

I've got the manual but it's so out of date (so it seems) that I'm just wondering if there is more?

Thanks!

[JayF]

Just a quick link for reference...

For a list of all the WebEx videos we have, please go to http://esignaltraining.webex.com and click on Recorded Events.

[donv]

Jay thanks, not sure if this is possible but it may be nice for new AGET users to have links to all AGET lessons,web-x videos, PDF's, on their own separate page and not mixed with other E-signal stuff and in multiple locations.

We have a bunch of stuff at the AGET group "file share" other lessons at E-signal university, on the E-signal Central learning center page Tom Joseph has a few lessons and then the link you just posted for web-x. It is true most of this stuff can be accessed from the following link but you do have to root around to find it http://www.esignalcentral.com/univer...et/default.asp

BTW I'm not complaining there is plenty of info available just could be a little better organized. I have used AGET since 1998 so I know most of this stuff anyway but I suspect newer users may benefit from this?

donv

[Philby]

Emini tutorial

Soylent,

Did the emini online tutorial today - in fact I thought it was so good I did it twice.

Andy ought to be an auctioneer - I had a hard time keeping up the pace with the one second charts. So much infoirmation in one spot - I plan to do it a few more times to pick up all the off hand comments I missed on the first few times through the tute.

Thanks for the lead it is a gem.

[svemuri]

Philby
Can you please post the link where you watched the
"emini online tutorial ", I could not find it in the recorded online WEB trainings area

Thank you

[ACM]

svemuri
If you go to this page you can find the link to the e-mini tutorial on the bottom left
Alex