Hi Dick,
If you think Tommy is in it just for the money, he's not, he loves to see people become net winners in the markets and as a result that's what drives him to develop better tools. Advanced GET started out as a tool box that Tom used for his personal trading in his house. After passing a few copies out to his personal friends, word leaked out that some guy (tom) had found a way to do ELLIOTT WAVE on a software program. As a result the request came in through those friends so he tried to sell it by ads in Technical analysis of Stocks & Commodities and FUTURES magazine back in 1987.
Sure he is making money selling the software, why else would he do it? Tom is a trader by heart, he's one of the few people I know in this business who happens to USE THE PRODUCT HE SELLS.
What's the big fuss about JTI and Bias Reversal, they are only tools,
both of which I do not use. Do you know I only use 4 tools in GET!
ELLIOTT, EWO (elliott wave oscillator), M.O.B. and Auto Channels,
that's it!!! I get calls all the time at Trading Techniques from guys trying to use 10 different tools on one chart (It's no wonder the guy's not making any money) he's trying to use 4 systems on the same chart. A very wise trader once told me: "If you put more than 4 indicators on the same chart I'll bet you screw the trade up" Go back and look at your own work and see if the adage "MORE IS BETTER" holds true. I know in my own work: confirmation of a trade does not come from applying more tools on the screen, but rather, applying only a few tools that I know very well and have tested over a great amount of data.
When I was in New Jersey TAINJ meeting Richard Estes said GET TYPE-1 trades were not good for low price stocks. My first reaction was even in the days of using TradeStation I never could build a good system for low price stocks (trading them is one thing, investing in the them is another: I consider trading anything under 30 days and
investing over 30 days). In any case, I asked Richard if he ever pre-qualified a wave 3? This one simple tool I use took my 6 months to develop, but well worth the effort. I showed Richard the steps and
then we went over a few charts. Amazing as it was, those charts that
Richard said TYPE-1's don't work indeed did not work, but under my rules with Type-1 trades they never qualified as true Wave 3's for theType-1set-up.
Just remeber this: The Video tapes and Manual are guides not systems, they set you in the direction. Ultimately the system comes from you the trader.
Best, Matt
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