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Strategies & Market Trends : gem-x's incredibly accurate Elliott Wave forecasts.

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From: gemx	4/17/2006 5:21:32 PM
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This is my entire strategy... -Stock bottoms out on a zigzag or ABC pattern.. -It begins to rally... -I don't buy at the "bottom", I don't buy at 50% retracement, or .618 retracement... -30% of the time I'll buy when the stock retraces at least .786 of the drop from top to bottom. For example, say stock XYZ corrects after a 5 wave move up...in a perfect ABC zigzag pattern..and rallies...the stock drops from 100 to 80. If it retraces .786 of the 20 point drop, it's about 16 pts off the low...so around 95.5 it would break. -I have criteria during the day of when I choose .786 or 1.00 break. -Stock breaks 95.5 or 100...I typically buy at 1.00 breaks... You see, stock moves 5 waves up, corrects 3 waves...the previous top was 100..that's 1.00 retracement. Or..to me, close to 100% probability of at least a 1%-2% move to snag..or at best 5%...10%...25%...or much more... This break rarely fails...but if does, I place a stop at a .786 retracement of the rally from 80 to 100..at that point is when "all hell can break loose"... Typically I fine with 2% per trade..if I do it 8-10 times a month, I'm making 15%-20% a month.. Yes, since Jan 2003...that's what I average per month...and compound it, taking the new profit and maxing out each trade..200% can turn into 600% for the year (if my math is accurate) 15% of the time these patterns can fail...but 85% is pretty darn good.. sounds easy right? Yeah it's easy when gem-x approves of the pattern =)

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