Most people have unrealistic expectations about trading systems/ forecasting systems. A trading approach that identify markets trending and enter on the direction of the trend only have to be right around 30% of the trades to make $. Socrates have a trend following approach to markets, so we should expect something between 30-50% winning trades depending on time frame you´re trading. Most people following Martin Armstrong have a misconception about that key statistic, they believe there´s GOD and higher than GOD itself there´s Martin Armstrong Socrates which can forecast markets with something near 80-100% hit rate. That don´t exist in financial markets, unless you´re able to travel throw time!
I totally agree with what you said above. However, the problem with Armstrong is that he always tries to project how accurate his models & Socrates is. How many times did he claim that his ECM model pick the very day of the event, throughout decades if not centuries? And he does NOT tell you that all of his models are simply trend-following, and therefore looking BEHIND. Yes, of course, he & Socrates always track closely the market. But that is PAST information. You canNOT profit anything from something that has already happened in the PAST.
So Armstrong, in a way, "over-promised" or rather more than likely lied outright about his models and Socrates, when in reality, you can use any TA to get the support/resistance, and the daily/weekly/monthly trends.