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Elliott Wave Financial Forecast

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Scott Diering
Guest
Scott Diering
February 14, 2011 9:28 pm

I subscribed to the Elliot Wave Theorists this past year, 2010. I acted on the predictions which they confidently made. They were all, and are still, WRONG. Upon further research, the EW group is about 28% correct in their predictions…well below the 48-51% average for stock and market analysts.
If your goal is to make money, avoid these self-aggrandizing, pedantic losers.
If you want to make more money than you would make following their advice, hide your money in your mattress.

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Doug Ralston
Doug Ralston
July 26, 2011 1:02 pm

Ever since the low in 2009 I subscribed to the weekly service that gave updates 3 times a week. I had told myself that if the DOW exceeded a .618 retracement of the decline(approx. 11,250) that I should cover my ‘shorts’. I only wish that I would have stuck with that but I continued to believe(can’t rmember his name) the analyst that wrote the updates who continuously made me feel like a decline was imminent. I even wrote that he would not include certain things such as bulllish consenus or many other indicators when they did not favor his position……….like a politician.

To say that I have lost all faith in Robert Prechter would be an understatement. Just as a broken clock is right at least twice a day………..he will again be right but not before losing his subscribers a lot of money.

Doug Ralston

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Gregg White
Member
November 30, 2011 12:08 pm

I make no apology for venturing into this forum for a second time in the last year or so. By now nobody should even consider any investment/trading service that uses Elliott Wave theory & that includes the Financial Forecast service. It may well have been the case in the days of ‘honest’ stock & commodity markets that EWT worked. I have no doubt about the integrity of “Mr. Elliott” himself but markets are now so manipulated by Wall Street that this system which relies entirely on the ‘herd instinct’ cannot work unless just by luck occasionally. I stopped my EWI FF about a year ago but would disagree with the stats about 28% of trades working. That is overstated. I have a lot of respect for Robert Prechter especially in regard to his socionomics which are brilliant. I have been with another trading service for 5-6 years which has gradually moved toward EWT trading & has deteriorated since. EG in November 2011 there has not been one single trade in spite of the massive moves in any of the markets. This is due to the constant ‘alternatives’ that EWT throws up making the whole thing totally indecisive. It is worse than a Libran trying to decide whether to have a latte or a cappuccino in the line at Starbucks. As I have said for years EWT is no better than a plain old moving average because 90% of the time EWT deals with hindsight and the train has left the station well before an EWT makes up its mind. So the problem is not specifically the EWI FF it is the theory itself. Quite frankly all the sub-waves & the alternate patterns give me a headache not an improved bank balance. Good luck if you can make money from EWT – announce it from the hilltops!

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Matt
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Matt
January 13, 2018 12:50 am

Pathetic

jasong916
jasong916
May 5, 2018 4:09 am

Don’t waste your money. Man I wish I had found stockgumshoe before I spent hundreds of dollars on bad advice. I have subscribed for almost a year now to the main service EWFF and STU. Also during the past year I tried intraday proservices on multiple markets. None of the services offer a true “trial” where you can pay just a little to see how it works for you, the prices are pretty high (as of now $199 a month for one intraday service). The StockFlash service is a joke – also priced at $199 – 2 weeks in there were no new recommendations. So what you’re telling me is that NO tradeable wave counts exist in the DJI 30 for 2 weeks? Isn’t EWI supposed to keep you with the right side of the market? I asked for a pro-rated refund of the StockFlash service and they said nope. So here’s the deal – you pay full price, there is no trial membership option – and if you don’t like it, good luck. They have been dead wrong most of the time in the EWFF and STU – they did get the initial decline correct, but for months now they have been saying “wave 3 decline immenent” in which I have lost a lot of money buying puts into raging rallies – which they say are “count trend” and “sucker rallies”. Um ok, well anyone buying puts into a 1000 point 2-day run in the DOW would disagree. Good luck if you pay EWI any money. Again, wish I found this site first.

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juliano
Member
juliano
July 16, 2022 2:19 pm
Reply to  jasong916

spent a good deal of money for their services as well seem well reasoned just dont work

johnant
Member
johnant
June 13, 2020 5:19 pm

Most of the commentators on this blog site Hochberg & Prechter as perma bears in stocks and gold/silver. Why they have a Short Term Update service is puzzling / funny since all Hochberg does for years on end is cite bearish everything and how the market will decline forthwith. A short term call could be ‘buy Tuesday, sell Friday’.
Their short term call has been ‘sell everything now ‘(every year since 2009), Dow 400 (yes 400!!).
They do not (as others have said here) acknowledge being wrong, they do not ever correct market forecast mistakes, or use stop points. Zero discipline, zero respect for markets, zero respect for customer trading accounts.

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juliano
Member
juliano
July 16, 2022 2:20 pm
Reply to  johnant

any recent thoughts on hochberg and prechter—seem sincere just wrong

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