Sell 216.0_Mastering elliott wave principle : elementary concepts, wave patterns, and practice exercises | ebook best price
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Total Pages: 169
Introduction:
After 20 years of experience helping other traders become more confident in how they
apply the Elliott Wave Principle, I know how difficult it can be for many people. But
over the years these people have helped me evolve my way of teaching this subject so
that even the most challenged may finally see markets move in repeating fractal price
patterns.
Why This Teaching Approach Is Different
We have failed to help you understand that price swings and Elliott Waves are not the
same thing. Everyone begins with counting price swings since these are the easiest to
understand, but the final result is disastrous. Why? You learn to ignore the internal
construction of a price swing and overlook the rules that are intellectually understood,
but then incorrectly applied. It is such a widespread problem that it merits the effort to
try something new to explain these concepts.
Though our words are carefully chosen to match impeccable market charts, we have
failed to really test your understanding by having you stop your reading at critical points
to challenge your understanding. This is one subject that must offer ways for you to
check your progress in small incremental steps before the learning curve becomes
hopelessly entangled. Many traders on professional desks have told me they wish they
had a way to test their understanding. Then they want to compare their errors with a
detailed description of where they likely stepped off course. So often I see people
correctly verbalize a rule or correctly identify and name an isolated pattern, only to then
fail miserably five minutes later when asked to identify it in the context of a market
chart. It is clear that my mission must include helping you bridge this gap. There will be
numerous personal tests to ensure you are ready to move forward. I also have a method
of drawing boxes to help you understand how connections develop within trends and
corrections.
Another common problem people experience with the Elliott Wave Principle is
developing a misunderstanding of what expectations they should be able to accomplish
for their level of skill. There are in fact three major skill levels before the fourth level
where you become truly proficient with a high level of expertise. There are several
steps leading toward a level of proficiency. The steps in general are:
Developing the ability to recognize the 14 price patterns as isolated components
within larger price moves and to understand the basic rules. At this level you likely
cannot apply the Elliott Wave Principle within a real-time chart and identify all the
patterns connecting the whole