Elliot Waves and Bankroll (LC)

[morphball]

I just looked myself up for SnG's on Sharkscope, and I saw that my profit graph is the classic Elliot Wave pattern. WTF??? Fibonacci ratio's now apply to bankroll growth? Is this possible???

[Lestat]

First, why not? These things are designed to detect trend patterns, right?

Second, do you really understand Elliot Wave theory? I've yet to meet anyone who can use it successfully to predict trends.

Third, I have no formal study in the Elliot Wave, but it sure seems to me that any trend can be made to fit a 5 cycle pattern with 3 correctional a,b,c, phases with 20/20 hindsight. The key is prediction before it happens!

[morphball]

I read Elliott Wave Principle : Key to Market Behavior (http://www.amazon.com/gp/product/0471988499/sr=8-1/qid=1146000273/ref=pd_bbs_1/103-4812506-5879046?%5Fencoding=UTF8)

Do I completely understand it? Good question.

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I've yet to meet anyone who can consitently use it successfully.

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From what I have read, it hasn't really worked since the 80's, but I have theory that knowledge of a market pattern prevents its future occurrence. That's getting off topic.

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Third, I have no formal study in the Elliot Wave, but it sure seems to me that any trend can be made to fit a 5 cycle pattern with 3 correctional a,b,c, phases with 20/20 hindsight.

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It's not exactly true, but in my defense I listed the post as "LC" - low content