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Trading-related Oxymoron

Came across the title of a book today called "A Mechanical Trading System..."

Cool!

"...Using Simplified Elliot Wave Analysis"

DELETE! DELETE! DELETE!

Elliot Wave Analysis is hardly mechanical. Or maybe I'm just judgemental.

Here's my test for mechanical-ness:

#1. Will the today me, in this mood, think that a rule is met, and will the tomorrow me, in another mood, agree that the same rule is met?

#2. Will I think that a rule is met, and every other person in the world agree that the same rule is met?

I say "Bah!" to Elliot Waves fitting either of those 2 rules.

posted @ Monday, November 20, 2006 1:55 AM by Sharky

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