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"This is a definitive, excellent book on Elliott, and I recommend it to all who have an interest in the Wave Principle." Richard Russell, Dow Theory Letters "Gold and Silver Today wholeheartedly endorses this book. It is the definitive work on a scientific wave theory of human experience. If you are interested in technical or wave analysis, it should be required reading." Gold & Silver Today "This book is extremely well done. It is clear, brief and bold....by far the most useful and comprehensive for both the beginner and the veteran." William Dilanni, Wellington Mgmt. Co.
"An outstanding job...I don't think a better basic handbook of Elliott Wave theory could be written." Donald J. Hoppe, Business and Investment Analysis "...A top-drawer reference for serious technical analysts....all the nuts and bolts necessary to do their own Elliott Wave assembly." Futures Magazine "Chapter Three is the best description of Fibonacci numbers we've seen in print and that alone is worth the price of the book." Janes Dines, The Dines Letter
"In a third of a lifetime in this business, this was the first time I really understood Elliott, and this is certainly the first book on Elliott that I could recommend. All the methods that Prechter has used so successfully are fully described in this book." The Professional Investor "Elliott Wave Principle is such an important, fascinating, even mind-bending work, we are convinced that it should be read by and and every serious student of the market, be they fundamentalist or technician, dealing in stocks, bonds or commodities." Market Decisions
"Even allowing for minor stumbles, that 1978 prediction must go down as the most remarkable stick market prediction of all time." James W. Cowan, Monitor Money Review Recipient of the Technical Analysis Association's Award of Excellence
When I first opened this book, I had already read numerous books on Technical Analysis, including candlesticks, momentum oscillators, volume indicators and basic chart patterns. It became obvious to me that the Elliott Wave Principle lies at the heart of why certain chart patterns work only a certain percentage of the time; for what one is seeing in chart patterns is the formation of robust fractals, or Elliott Waves. Chart patterns are the blunt tool and Elliott Waves, the knife - at least in a probabalistic sense, as no method provides perfect accuracy.
This book is not for the mentally lazy, which included me when I first started reading it. In fact, it took me several months just to get through it, understand it and then apply it in real time chart reading. I still keep going back to it as a reference. However, if you have an obsessive desire to understand the financial markets, you will make it through the book and be rewarded with a perspective that VERY few have on the financial markets and, therefore, the psychology of crowds.
I would suggest The Wave Principle of Human Social Behaviour (also by Prechter) before reading the highly technical Elliott Wave Principle. Your want to learn the details of the Elliott Wave Principle will then be fully primed.
Read this book with an open mind and investigate the suggested patterns and you will be amazed what you see.
I remember looking at a 4 year chart of the sp500 after reading this book and trying to observe the "3s" and "5s" and was shocked to see them staring back at me.
It is hard going at first - especially the first couple of chapters, but take it slow and it will soon sink in - you won't regret that you spent the time to learn Elliot Wave Theory
This book is the easiest to read, most direct and to the point book that is solely on Elliott Wave. It tells all the possible moves, how they happen, and why. The book also goes into the very necessary explanation of Fibonacci and time relationships with regard to price. Many gold nuggets of information contained within this book; it is the most simple, complete Elliott Wave book you can get.
But the biggest problem is...most people just don't "get it"... Elliott Wave and Elliott's findings are SO MUCH MORE than the financial markets. The fundamental discoveries that govern the Wave Principle and thus the behavior of the financial markets are the very same fundamental forces at work throughout the entire universe. When you have a deep understanding of the Wave Principle, Socionomics, and science in general, you can begin to see how everything around us all ties together to form this awesome grand scheme of life and existance. A deep understanding of Elliott Wave and Fibonacci is the key to opening a whole new world of knowledge, application, and the birth of a new science.
After reading this book I've decided to study Elliot Waves very carefully. While the book is fairly short the job of constructing degrees and understanding the rules/guidelines will take time to master. The reason I feel it's worth the time is that only Elliot Wave provided a structured way to understand short and long term cycles. The stacking and governance by degree provide meaningful insight into predicting future price movement.
Product Details :
- Series: Wiley Trading Advantage
- Paperback: 240 pages
- Publisher: Wiley; 1 edition (January 16, 2001)
- Language: English
- ISBN-10: 0471988499
- ISBN-13: 978-0471988496
- Product Dimensions: 0.6 x 6 x 9 inches
More Details about Elliott Wave Principle: Key to Market Behavior (Wiley Trading Advantage), 1st Edition
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