WG you've nailed me in one.
I'm far too cautious. With the Dummy +500 account I was fearless.
I am improving with real money .... but too slowly.
Will take all on board WG and thank you for your input,concern and your time - ALWAYS APPRECIATED.
Maybe I'll have a stiff Highland Park before the off tomorrow ... I'll let you know what colour my Y-fronts are at 4:30 pm .
On another point can we stop Italian bashing. Knock individuals ...Briatore etc if you want.
AML without Italian design would be a sardine tin in comparison. All the classics are Italian designs Carrozzeria ..Zagato ...
IMHO
I was 42p got carried away in the 70's and 80's thinking it would never stop and was up to 76p. Now thank to quality posters here I learned how to lower average now sitting on 62p and looking to lower to 50p if opportunities arise.
BRL I agree it got a bit complicated after 5 but I have put this down to a complex corrective wave. Look at the link below and you will see they can get quite complicated.
https://www.tradeltd.com/complex-corrections/
I have not studied these enough to be confident about them but in my book we are about to start a new wave. The waves should work all the time even during manipulation as the bots are programmed by humans.
It looked and felt like we finished C and had already started the new wave on Friday but there was no sentiment/news to support it. If you go back to Friday's Board you will see a number of suggestions .. battery factory next door, Vettel signing, "whispers" but nothing concrete enough. I thought that there might be an RNS today or something to back up the "whispers" but nothing came but it might yet. Until that news/sentiment I am reluctant to say we have moved on from C. Of course that is in the time scale I am working to . There have been lots of smaller EW within the retracement and WG and others has been trading on them to top up etc but my eye isn't good enough to spot them and my pockets aren't deep enough to get it badly wrong.
As a said before when a bird spotter gets good they don't need to see the whole bird but just a feather or glimpse of half a beak and they know. That's the point we need to get to and unfortunately that is just putting the hours in.
BRL I think I see waves because I want to too ... It' s just like bird spotting etc. To begin with all you see is birds ... then you pick out species .... then subspecies etc. it does take hours of practice which I just need to put in. That's why I went with Dimi's projection rather than my own. Did you compare my post to the AML share price and did it agree with your reading?
As I mentioned in my reply on Sunday to WG I had a +500 dummy account where you play with pretend money. You should try it. When its not real money you don't have the distraction of being over cautious or too cavalier.
I seemed to make better decisions that way. But when you using real money I get the jitters.
I am now practising with small amounts of money on random shares mentioned on the BB and I found that is a good half way house. I'm making lots of mistakes but improving. I read somewhere that it is easier for beginners to trade on impulse waves 1-5 as they are more regular than A-C so that is what I do. I wanted to try it on SNG today but it was going too fast (100% - 500%) for me to think quickly enough and the unit price was too high so I bottled it but if you have a look at it it is nice and wavey upwards
I hope that helps
Dimi I went with you and bought at 54.01 it seemed to have bottomed at 53.74 for the time being so we were both right so far and I may have missed out if I waited for 53p. I know WG says 52 but he's doing hourlies
BRL I believe we are always on an EW and the trick is to find out where we are. As each part of an EW is also an entire EW this is a great help in fixing where you are.
Rather than choke the board again with where I think we are If you click on my name and check out my post 27/6 15:05, amongst others you will see where I think we are but as you said ...beginners .
Good Morning 3300
It was on channel 4's F1 highlights programme. You might get it on the C4 player if you have it. Its two ad breaks after the race. I thought it was revealing as he answered a question he wasn't asked. Let me know what you think if you manage to get it
I meant the C4 post race interview by David Coulthard. I had another listen .... he is asked about racing point but replies about Aston Martin and How on track formula 1 affects road cars .... revealing ....have a listen and feedback
Calm down WG you’re Working yourself up into a lather before the off
Dimi. If we ever meet up on the yacht in Athens we will sit WG down and keep bringing him food wine whisky and cigars until he has finished explaining to us all his trading secrets and we have written them down for the next generation We will make even. more millions selling the book.
Take care fratellino and remember whatever happens on Monday ....stay patient
DarrenB
Have you heard of Epictetus?
For those who aren’t familiar with him here’s a selection of his sayings....
We have two ears and one mouth so that we can listen twice as much as we speak
.
Men are disturbed not by things, but by the view which they take of them.
Only the educated are free.
If you want to improve, be content to be thought foolish and stupid.
And one of my favourites. ...
It is impossible for a man to learn what he thinks he already knows.
He has many more And if you don’t know him look him up and see if there’s one that appeals to you
Thanks WG Kind words
And I know you’re right about missing lots of opportunities on the EW but give me a chance to catch you up. Try and remember how you felt back in ‘84 when you started It’s not so easy is see and count... I’don’t have the confidence yet to be sure I’m seeing what I think I’m seeing or that my count is right. Plus I don’t have your pops on my shoulder keeping me right or to talk it over at the close of trade.
I’m working on a longer timescale than you using the weekly charts.
I’ve tried a dummy account with +500 but it’s not the same. When it’s not real money I’m much more confident and carefree and strangely I get it right more often than not. When it’s real money I get the jitters ... my head swims and I lose confidence in my judgement and count but I’m getting better practising with small amounts of money on other shares
I tried to read the small waves for AML on Friday with the intention of selling a small amount high and buying back the same day to lower my average but the price rose and stayed high. I sold at slightly higher than the close but I was expecting a short drop back to around 53p . I don’t think this will happen on opening on Monday but all things bring equal there should be a drop back at some point Monday before another step up. If I’m wrong I’ll Just have to bite the bullet
Ask your pops if he’s up for training another boy from a council estate who wants to live the lifestyle he’s not entitled to
The how to build C4 docu series on AML was a bit dull but the Morgan episode was much better check it out Mrs WG night even enjoy it!
Take care and thanks again for all your help
Epsilon
If I can just add my understanding ... Waves are a description but not of share price rather of human (trader) behaviour. The reason it becomes predictive is that human behavior in this narrow field is predictable not necessarily on a person by person basis but as a herd. When good news breaks people behave in a certain way and there is a lag as the information disseminates in waves. The same for bad news.
According to the information above there were 11687 trades on Friday so that is 11697 behaviours which is a powerful amount of data every day both in quality and quantity. This data tells us what people actually did not what they say they did.
What attracted me to Eliot was that he identified a pattern of behaviour that kept repeating itself. In my search for something to help me I came across so much that said that over time and all of the market here is no direct relationship between fundamentals and share price.
https://www.ft.com/content/abd15744-9793-11e2-b7ef-00144feabdc0
https://www.youtube.com/watch?v=_vdB7gphtyo
If that is the case it seems pointless to spend a lot of time understanding fundamentals.
Where Eliot comes in is that it is not about shares but about people. The frustrating thing is it does not talk about timescales and as the video above and most of the chat on this BB we are obsessed with the price tomorrow or by the end of the week. Eliot gives me peace of mind as if I identify the waves correctly (big IF) I know what will happen I just don't know when. But when things happen move they become predictable. This is only a problem if you invest money which you may need at some point and you become time restricted.
I do not combine it with other systems for the reasons above but also because most of the other systems impose or suggest a timescale which becomes hard to ignore. When the deadline passes it makes you anxious and maybe do what Dimi did. thank goodness he got back in.
Having said all of that I have not made money yet as I got carried away before I found out about waves
33
Glad you're looking at waves and you seem a much faster learner than me but you do have a lot more experience to help fast track you.
I am more or less where you are on the waves but because there are waves within waves I think we are just talking about different levels at the level i'm looking at it is 5C or possibly new 1 but zooming out we are on your 3
Prefty
I will look at VOD just out of interest and practice.
I'm new to investing and waves(May this year) I agree with you where we are on the AML waves long term ... 5 protracted C.
I hoped we had ended C and started a whole new wave on Thursday.
But there was no indication to end C as there was no news/sentiment as Noah said to start a new wave so I am hesitant to say we are. As such I was practicing a little day trading with a small % of my holding think I could sell and buy back cheaper but there was little push back so I may have to buy back at a higher price on Monday. This is a tiny indicator that we have started a new wave but without news/sentiment I am holding fire. Maybe it will become clear on Monday.
I don't really want to pay for access to data so I am hopeful that weekly charts will do for long term investors like me
WG
I don’t know how to get detailed price info I’m just using the one that comes with google finance so I’m using the weekly/monthly charts. What is the best free chart to look at?
On my reading I’m not on wave 4 Like Dimi I’m on The start of a new wave so number 1 but dimi said wave 4 so I thought I must be wrong so I was checking . But like Noah I can’t understand the rise on no news .. some say the battery factor some say vettel. Some say whispers
Don’t forget WG me and Dimi only know about 5 waves not 7 so we will be out of sync with you at times
I’m also trying to copy your day trading but I can only manage it on the 1-5 I can’t get the hang of trading a-c I keep making a mess of it
Do you add an extra zig zag Impulse to the normal 5?
Thanks for all your help though I really appreciate it I know you get a lot of attacks but Remember they don’t attack Rubbish
Noah
I know you’re LTH so no problem
Very interesting post
You and WG always looking beneath and always looking for answers ... very good for the BB
I’m LTH too but Learning about waves and trying to understand day trading while I’m waiting.
I practiced selling a few as the price was rising with no news so I expected it to fall again so I could buy them back before close cheaper like others here
The price didn’t fall much so I think you must be right. I didn’t get the chance to buy back cheaper. My sale was only a little bit above close so I may have a chance on Monday but if you’re right I might have to buy back more expensively
Keep posting ... always make me think