Applying Elliott Wave Theory Profitably Review

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(More customer reviews)I recently completed the CMT (Chartered Market Technician) exam process- this is a professional exam for technical analysis, consists of three levels. The third level has a substantial section on Elliott Wave. I have read other books on Elliott, but this book was in my opinion the best written. Mr. Poser made a difficult subject much easier to digest. The real strength here is in discussing what NOT to do when using Elliott Wave- by keeping these tips in mind you will find you can readily apply the techniques to charts from various financial markets.
I highly recommend this book to anyone taking the CMT exam, especially those who don't use Elliott Wave in their trading and/or analysis.


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Learn how to forecast the market with Elliott Wave TheoryIn Applying Elliott Wave Theory Profitably author Steven Poser shows readers how to trade using Elliott Wave Theory-a powerful technical analysis tool used to forecast the stock market-through easy-to-follow trading strategies, while offering clear explanations on how to interpret this method's numerous patterns. Step-by-step guidance breaks down the Elliott Wave Theory and provides strategies that a trader can put into action along with a complete explanation of how and why the Elliott Wave Theory works. Applying Elliott Wave Theory Profitably shows readers where to look for external clues, and how to use these to improve their trading performance.Steven W. Poser (Upper Saddle River, NJ) is President and founder of Poser Global Market Strategies Inc., an international stock, bond, and currency markets trading advisory firm. Mr. Poser publishes a daily newsletter that covers these markets from a technical and fundamental perspective. He holds a post-MBA degree in finance, as well as an MBA in economics and a BA in mathematics and computer science.

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Prechter's Perspective: Conversations with Bob Prechter, Legendary Market Theorist Review

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(More customer reviews)In this interview-style book published in 2004, Bob presents his own perspectives on subjects as far-ranging as Elliot Wave Principle (obviously) to the way he believes that the 'normal' cause and effect relationships people take for granted in a market environment (and the world in general) are actually inverted.
As well as a detailed and personal discussion of the application of Elliott Wave in the context of the practical uses in actual trading, Bob gives some simple but excellent rules for trading in general. These include:
* Having a method
* Having discipline
* Gaining experience
* Accepting responsibility for your actions
* Accommodating losses
* Accepting huge gains
Although an interview format book is sometimes difficult for some people to extract the true `value' from, it is well worth the effort of studying this book since it can give you some useful insights into things that you may currently take for granted as `truths' that are actually detrimental to your trading performance.
The main novel theme in this book is about Bob's concept of `Socionomics', where social mood and psychology are the result of movements in the markets not the other way round. Believing that the market goes down because people are depressed, for example is a complete reversal of the `conventional wisdom' and thinking about it deeply can lead to some interesting conclusions and beliefs that have a significant practical impact on how one approaches trading.
Discussing specific approaches to trading, and how Bob thinks about them is a useful and informative look into the trading methods of an obviously accomplished and passionate market participant and also gives a context for the application of Elliott Wave Principle. All-in-all it should be considered a very worthwhile read.

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New Thinking in Technical Analysis: Trading Models from the Masters Review

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(More customer reviews)In this compilation edited by Morgan Stanley Dean Witter technical strategist Rick Bensignor, a dozen financial experts discuss their individual approaches to technical analysis of the stock market. In the first chapter, equities, options and futures trader Linda Bradford Rasche explains swing trading and the underlying principles of technical analysis, thus providing an important primer for understanding the theories in the rest of the book. This is a complex read, since technical analysis involves using various mathematical systems to examine market trends and swings. Those who follow the market closely will find this engrossing, but amateurs could be daunted. We [...] recommend the book to serious students of the markets - It's not for the casual browser or those who are not mathematically inclined, but its targeted readers will be quite satisfied.


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The Gartley Trading Method: New Techniques To Profit from the Markets Most Powerful Formation (Wiley Trading) Review

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(More customer reviews)Ross Beck's book on the Gartley pattern and trading methods is straight forward and well written; one of the very best trading books I've read. And, I'm not keen on offering over-praise and am intolerant of most trading books where the authors do not take the time nor the interest to write clearly or adequately proof-read their works for errors. Mr. Beck weaves humor, intellect, and wisdom into the pages of salient definitions, methods, applications, and explanations. His command of the subject becomes obvious not by boasting or bloviating, but rather by the breadth and completeness of his book.

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A detailed look at the technical pattern simply referred to today as the Gartley Pattern
Gartley patterns are based on the work of H.M. Gartley, a prominent technical analyst best known for a particular retracement pattern that bears his name. In recent years, Gartley patterns-which reflect the underlying psychology of fear and greed in the markets-have received renewed interest.
This definitive guide skillfully explains how to utilize the proven methods of H.M. Gartley to capture consistent profits in the financial markets. Page by page, you'll become familiar with Gartley's original work, how his patterns can be adapted to today's fast moving markets, and what it takes to make them work for you.
Examines how to identify and profit from the most powerful formation in the financial markets
Discusses the similarities, differences and the superiority of the Gartley Pattern compared to classical chart patterns including Elliott Wave
Shows how to apply filters to Gartley patterns to improve the probability of your trading opportunities, as well as specific rules where to enter and exit positions

Gartley's pattern is based on a unique market position where most traders refuse to participate due to fear. This book reveals how you can overcome this fear, and how to profit from the most consistent and reliable pattern in the financial markets.

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Fibonacci for the Active Trader Review

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(More customer reviews)Blends heavy influence of Dinapoli with some Pesavento and Robert Miner. I did notice he used Dynamic Trader for his charting examples, yet failed to mention a thing about Elliott Wave in his methods. The book is simple to read, very much like a Larry Connors style of book. Presents 8 methods, many of them overlapping each other in theory and setups. Basically, trades off confluences of a particular fib retracement (essentially a Wave 4 retracement) and then gives simple fib targets. A trader would gain the most from this book by having an EW background and then interpreting the setups to incorporate with wave counts. Otherwise, I think a new trader might look too hard for a "higher high" and so forth, just to match the setup.

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In Fibonacci For The Active Trader, Derrik Hobbs will teach you his favorite Fibonacci strategies for anticipating and potentially capturing the most significant turns in stocks, stock indices and exchange-traded funds.--This text refers to an out of print or unavailable edition of this title.

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Dynamic Trading: Dynamic Concepts in Time, Price & Pattern Analysis With Practical Strategies for Traders & Investors Review

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(More customer reviews)Dynamic Trading is perhaps the best work available on the use of Elliott Wave and Gann approaches. Not only are the layout and examples clear and easy to follow, but their real-world application is extensively covered. Robert Miner has produced a seminal work in the practical use of Elliott Wave -- no easy task.
Miner clears the decks early by acknowledging that Elliott's "wave counts" work about 50% of the time. Thus, he does not resort to vague, exceptional wave counts and other fudging factors in an attempt to justify the Master's infallibility.
As a professional trader of almost 20 years, I attempted in the past to apply Elliott wave to daily and intraday trading and failed. I discounted Elliott principally due to the presentation by Elliot academicians.
I get the sense that most authors attempting to explain Elliott and Gann are theorists only and either do not want you to be able to trade using their interpretations or, in fact, are not traders. Miner has clearly been in the trenches, and his book makes the approach accessible.
Though Miner takes a less restricted approach to the interpretation of wave counts, his results are no less impressive. The author is very restrained in touting his software that accomplishes what is explained in depth in the book. However, all formulae (to my knowledge) are revealed and are adaptable to an Excel spreadsheet, which is what I have done.
Wave counts, Fibonacci retracements, time measures, trading strategies, an abundance of practical examples, and much more is covered.
The Wave Structures Check lists, Summaries of the Most Important Price Projections, Ratios by Wave, and Worksheets are invaluable and alone are worth the price of this book. If you trade or plan to, you should buy and study this book.

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Learn Dynamic Price Projection Techniques and how to project, well in advance, the specific price zones for support, resistance and trend termination.Learn Dynamic Time Projection techniques including Projected Turning Point Periods, Time Rhythm Zone and Trend Vibration projections, which allow you to project days and weeks in advance the specific time zones for trend reversal.Learn Elliott Wave Made Practical. Quickly determine if a market is in a trend or counter-trend position.Learn low-risk and low-capital exposure trade entry strategies including trend-reversal and trend-continuation entry and stop-loss techniques.Learn how to develop and stick to a trading plan.Learn how to maintain a structured, patient and disciplined approach to technical analysis and trading strategies.Learn a Consistency of Approach to trading.Learn how to Trade Market Behavior, Not Market Forecasts.

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