We’ve all heard the fable of the fox and the grapes. When it comes to financial markets, however it is very easy to get into a situation where the fox – to say that sour grapes because it is high. Furthermore, typical for any beginner looking for grapes at all costs even yet his season did not come. The reason is that just loves this fruit right now and wants to raise it.
Summer vacation was good on that during the holiday good trading signals were missing and it did not give reasons for writing articles and analysis. During this time, gathered comments and questions online. There was one request to make an analysis of EUR/USD, to which I replied that at present there are no signals. Indeed, even those not at this time for this currency pair while preparing this material. Shortly thereafter, he appeared the following comment, “If you really worked on the Elliott Wave theory would be able to comment in any situation. For me, the Elliott wave theory is “a perfect delusion.” Perfect because many people still rely on it, realizing his weakness at certain times to give forecast market developments. ”
I do not know the author of this comment and if it is curious to me how other people operate Wave theory, it is not difficult to become personally acquainted with me and live to see my items that show for years in this analysis.
What we want to stress is not related to personal criticism, but to shed light on a very common problem. Be demonized Elliott wave theory is very common. This is usually from people who have tried to understand it, but had neither the patience nor the approach and whether or not its time to reflect. Whether it is mandatory for success in trade? Of course, there are other methods that bring success. What it gives is reducing risk and increasing profits for those who adopt it. The rest fall into two categories, or simply to trade without it and some of them also do pretty well (I know people who trade successfully without wave theory). Others stay on board and began to spit in the same way as men gather in bars to complain about their wives.
That not everyone is able to analyze the wave like I’ve learned a long time ago and I am far from thinking that everyone will want to deal with it. People are different and to me if my favorite color is sky blue will not intrude. Interestingly, however, for us humans is that some have energy and time to spare us impose a religious passion that just our favorite color is very ugly.
As to the issue whether or not there grapes, here’s a fundamentally serious problem. When we are beginning to think that experience know at any time what is happening in the market. The truth is that experienced easily understood from the graph whether or not the signals and thus decide whether to trade or to seek another occupation. Meanwhile beginners wondering where to read something that they can earn just like from the air some money. Things are very simple. As will eat grapes peaches or watermelons or whatever there is on the market. And if nothing then impinge on winter supplies.