Started out great, then went sour.
The EW theory is intensely interesting and “should” be the premier trading indicator in the world. Unfortunately…
I have subscribed to the Elliot Wave Financial Forecast, EW Short Term, EW Theorist, EW Traders Flash Alerts (ETFs and Futures trades to make right now) and EW Intraday Index Forecasts (every hour a new forecast for the S&P, Dow, Nasdaq). I had them for 6 mos.
In May + June 2010, they were great. I was raking it in. They call you at home and email you when there would be a flash alert . Their messages "This is Elliot Wave announcing a new Trader's Flash Alert..." were like sweet + exciting music! They were around 75-80% good trades. But in July, the average started going down, and I started losing money. They were at 35.7% good trades for all of Aug, Sept, Oct 1st 3 weeks, when I cxld.
Looking back, they are bears. Lots of predictions for market downturns. In May-June 2010, the trend was down. So their forecasts were very accurate. When the market went back up, not accurate. I could not successfully use the intraday forecasts to day trade. I spent many hours tracking them, and they were around 50-55% , not enough to trust my money on.
They seem to take the internals, and say the market SHOULD go down. Often they would keep saying that the big correction is just around the corner. Maybe if there was no market manipulation, EW would work.
This review is the subjective opinion of an Investimonials member and not of Investimonials LLC
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