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Message from
Immy & AIMS Support Team

Elliott Wave Indicator - Elliott Wave in 1 Second

Q&A and Support about Steve's (Snorm) Indicators
http://www.For-Exe.com" onclick="window.open(this.href);return false;
User avatar
snorm
Posts: 306
Joined: Sat Aug 13, 2011 9:57 pm
10

Re: Elliott Wave Indicator - Elliott Wave in 1 Second

Unread post by snorm »

Randy Cha wrote:Hi Immy and Steve, :D
Thanks so much again for the magnificent work done so far.
The eWave counter/indicator makes our life even more stress-free...thanks for pampering us.
Recently, I am trading using AIMS at higher TFs because of my day job. So far, AIMS has treated me well. Last time, I always look out for wave 3 and wait for setup 1 to re-appear to ride on wave 5. With this indicator, I believe I can spend more time on TF 1 min as well.

Just a few questions, gentlemen...
1) with this indicator, are we just trading wave 5 and taking profit at the displayed TZ? Any chance to trade wave 3 and TZ also displayed as well?
2) looking at which side is the price relative to the purple line, if it is above, we will go for the green wave numbers (3, 4, 5) on the chart and vice versa?
3) entry-wise, we will look out for red or blue dots after wave 3 appeared and use AIMS box for entry and SL? Do I still need to worry about setup 1 and 2?
4) if I want to use the indicator on TF 1H and 4H, are there anything additional to look out for?

Hope to hear from you gentlemen.

Rgds,
Randy
Hi Randy

I think I'll let Immy answer your questions about what and when to trade but I think he will say something like "we trade the setup, not the waves" :D
The Waves are as much about telling us when to avoid trading, as they are when to look for trades. The W5 Fib Projection is a great benefit of the indicator, showing something that is very trade-able and often repeated - but that isn't all we use the indy for. You can of course trade W3, that's the impulse move that we all want to jump on early, using the setups. You can do your own TZs, using manually drawn Fib Expansions though I will ponder doing some automatic ones in due course (based on my Fractal Fib Expansion indicator).

Your point 2 is good. Point 3 - trade the setups as normal (I think Immy will say)

Point 4 - nothing to change with the indicator, you can use as it is.

cheers
Steve

PS just as I was typing this post, Immy posted his response :D

Randy Cha
Posts: 57
Joined: Fri Jan 20, 2012 9:11 am
9

Re: Elliott Wave Indicator - Elliott Wave in 1 Second

Unread post by Randy Cha »

Thanks, Immy. Your explanation is clear.
I understand now.
Everything stays...Still trading setups... :)
Nonetheless, EW is still a good-to-have...I have a feeling it is going to bring me more pips.

Good job again (wd) (wd) (wd)
Randy

Randy Cha
Posts: 57
Joined: Fri Jan 20, 2012 9:11 am
9

Re: Elliott Wave Indicator - Elliott Wave in 1 Second

Unread post by Randy Cha »

Hi 5 Steve,
I love the way you phrased the sentences...I understand what you are trying to tell me.
Btw, very good job with the eWave...I strongly believe I can benefit greatly from it.
Will keep you posted.

Rgds, Randy
PS: now my mind s racing...

User avatar
snorm
Posts: 306
Joined: Sat Aug 13, 2011 9:57 pm
10

Re: Elliott Wave Indicator - Elliott Wave in 1 Second

Unread post by snorm »

Randy Cha wrote:Hi 5 Steve,
I love the way you phrased the sentences...I understand what you are trying to tell me.
Btw, very good job with the eWave...I strongly believe I can benefit greatly from it.
Will keep you posted.

Rgds, Randy
PS: now my mind s racing...

Thanks Randy, I truly hope that you and everyone else get infinite pips with the help of the indy :)

User avatar
immy
Founder
Founder
Posts: 8689
Joined: Mon Nov 22, 2010 4:46 pm
11

Re: Elliott Wave Indicator - Elliott Wave in 1 Second

Unread post by immy »

A great Wave 3 within a 3 within a 3 on EUR/USD... Good for 10, 20, 30, 40 or even +37+34=71 pips!
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What is the Biggest Hidden Secret of Successful Trading?
The Consistent Pursuit of DS1 :nerd