Good a place as any for this and for some it will be a resource...
I want to clarify some things about my commercial
trading system which is mentioned in the NEWR book
as well as talk to expectations for this forum which
I may or may not fulfill.
My trading system's called STAR at
Supertradesystem.com
and STAR is short for Super Trades At Retrace. The NEWR
was discovered before STAR but AFTER an EW key I found.
Had it not been for this key niether the NEWR or STAR
would have been found so they are related in that way.
STAR uses the same numerical precision that drives the
waves and forms fractals and probably more we don't know.
I get a fair number of inquiries indicating that readers
of the NEWR book have gotten the impression that STAR
may take their understanding of EW to a higher level by
virtue of the fact that it is powered by the key.
Below I answer this issue in an email response I am sharing
here as well as give more info about what STAR is and does.
The main point that I focus on in my published materials is the
production. When we share trades at Supertradersclub that
produce like our August 2011 watchlist trades did at 9,880
pips those members are happy and when NEWR helps you
count for a good series of trades NEWR readers are happy.
In doing this here I am touting STAR while providing clarity
for that issue but this brings me right to the expectations
about this forum. There was a comment by one of our members
that this is not a STAR board but a NEWR board. This came
after some discussions relating to speed changes in waves.
I really admire the technical expertise this trader shows in
how he trades NEWR and I have visited other places that he
discusses EW as well as some older technical analysis work he
has put up on a personal site. We seem to have a lot in common.
This is what this site, as well as STAR, is all about really, isn't it?
Our common story and travels as traders. This site is about me, and
it is about you. It's even about Mr. Elliott.
It is about the challenges we face as traders and how we deal
with them. If I am involved then it is about technical analysis,
EW and the New Rule, Fibbonacci, fractals and numerics, and it
must be about STAR because that is who I am. (and it's my forum) ;P
The prominent focus here has and will of course remain EW and
NEWR. If I mention something else please realize that I think
it is relevant. When I trade I use STAR and with good reasons
but I have not made much mention of what my trades are so it
should not interfere and if I get a plug in for STAR please
indulge me this. It is gratifying to see that my experiences
are helping other traders, whether with NEWR or STAR.
So let me get to it then and share a portion of the email and
the reply (and then I can refer people here to save my wrists)...
Quote:*would like to share with you that i have just exited shorting eur/usd
for 230pips in 1 day, applying fractal principals and your 'new' rule.
i'm counting the 3mins chart for wave 1 to finish properly, to then use
wave 2 to set up for wave 3.
I'm really looking forward to reading the STAR ebook and see for myself how
your 'keys' are going to further identify the trades!
hope to hear from you soon.
thank you.
warm regards,
JM
Hi JM,
Thank You for your continued interest.
I am glad that you have made some good use of NEWR!
It sounds like you may wish to hold off on picking up STAR.
...
The wave key powers STAR but STAR is definitely not
an EW implementation. There is no counting done at all.
Like what you are doing, it gets in early on a new trend
by getting a prime retracement. The thing that created
a need once I knew about the key and the new rule is
the recognition that money without time is "almost" as
bad as not having either in sufficient quantities.
So I began to see what I was doing and that made me
realize that I was trading my life to some extent for the
ability to call a top or bottom. Great to accomplish but I
also have a lovely family.
The way the market works in the area most expressing
the NEWR makes for a ton of lost time. I saw that also
in any spot where I was a bit off the mark, that being a
bit early or late meant I would have been better off if I
got in on a retracement.
There is also one more aspect and that is the best use
of one's equity. In the fight over whether bears or bulls
own the prospective pivot the uncertainty chews up time.
During this initial stage of trend change there is not so
much equity growth because of that first retracement.
I was basically spending a ton of time counting and then
a ton of time waiting for any payoff. To add more counting
time while 1 and 2 complete was not the solution that made
the most sense to me.
I took what I had with the key and some other numerical
discoveries I'd made based on observing the key and
began creating tools to capture the retracement at a spot
that the NEWR would indicate and then the key would
be used to "adjust the frequency" like radio tuning.
This worked fantastically and it was just something which
I used. Nobody even knew about the NEWR yet. Time
freedom that comes from this approach was phenomenal
and I had my life back again. Some rough count got me in
an area and the signal from my tools let me know the rest.
Of course I tweaked it a few minor ways but the stuff from
the observations of the key has for years been something
which amazed me. Things just work, they click into place
like they were waiting to be built.
Then something happened I was not expecting. I started
to notice that looking through the historical area before
the pivots I had worked on there was a repeating pattern.
(I know you are thinking, "Of course, fractals".) 8- )
It was related to fractals but something with more of a
regulating character. There was a specific nature which
the fib-based tool displayed on all the major pivots. This
collection of behaviors I have called traits was there on
the good pivots that were major trend changes and they
were not on the minor corrections or continuation pullbacks.
I began to notice much more because of recognizing that
period setting adjustments which kept to a family of fib
factors were able to match the speeds of the waves.
STAR was being built before my eyes. The realization that
all of my counting expertise was becoming unnecessary,
while humbling, was quite pleasing to me when I realized
that STAR could be used by anyone who never even heard
of EW. EW is not easy and STAR is also some work, so
please don't get me wrong.
Well that is how STAR came into being. I wanted to explain
because it seemed you may have had an idea that STAR
and the wave key that powers it would take you further into
counting experience.
It is a trading tool which I rely on and has taken over my
trading to the extent that I only count for the sake of the
NEWR forum on instruments that for the most part do not
even trade (I did a couple forex counts on the NEWR
forum and was trading one of them but this came from a
STAR prompting, not an EW one).
Surprisingly, the guy who discovered the NEWR now
only counts for sport. Kind of funny huh?
That's how good STAR is. That is my opinion and it is biased.
I was just cleaning up our watchlist and reorganized some
tabs to make it easier to use. I noticed that we had a very
good single day of setup hunting. Several traders entered
setups on Feb. 25th 2011 that had gone on to trigger trades
after that date.
From triggers in March through September these trades have
so far amassed 5,255 pips. All that from one good hunting
day's work. Trades triggered in August 2011 have a tally of
9,880 pips. Some of these were for you. Unless you are going
to be awake 24/5 you will miss some. But the watchlist really
helps make it easier. What one side of the world finds the
other side of the world may reap and v/v.
Have a great weekend.
ATB
Tom
www.supertradesystem.com
http://www.supertradersclub.com
http://www.newelliottwaverule.org
So there it is - STAR is not counting but a manual system
and it matches the speed of the move first and then performs
the analysis. The info for each custom tuned signal comes
directly from the numerical precision already there. Each
snapshot of the signal being triggered looks the same but
each is unique for that spot and the tools tell you where
to enter (not with an up/down arrow but a signal line
using mechanical steps with hard criteria).
In the near future I am planning to write a new book titled,
"The Trouble with Today's Technical Analysis". That will be
offered on the
Supertradesystem site and will show why
there is such a high failure rate in trading. The things STAR
does solve the problems of TA.
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