How to Identify High Profit Elliott Wave Trades in Real-Time
$18.26
| Author(s) | |
|---|---|
| Pages |
203 |
| Format |
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| Published Date |
2001 |
How to Identify High Profit Elliott Wave Trades in Real-Time finally transforms the Elliott Wave Theory into a practical, usable trade selection system. Mr. Walker calls his dynamic new trading approach the C Wave method.
Introduction:
As a novice student, you would not expect to grasp the difficult concepts of Elliott’s Wave Principle instantly. Understanding and successfully using this methodology for analyzing market price movements takes practice and perseverance. In essence, the Elliott Wave Principle maintains that markets advance or decline in a series of wave patterns—five waves in the direction of the major trend and three waves in the direction of the correction of the major trend. This book is structured to help you broaden your knowledge base of Elliott’s wave analysis step-by-step.
I suggest that your first reading be a quick scan of all the material to give you an initial overview. Then, as you go back and study the concepts, which are explained in numerous and subtly different ways, you will find an approach that makes sense to you. How to Identify High Profit Elliott Wave Trades in Real-Time is essentially different from previous books on Elliott Wave in that I have attempted to quantify aspects of the theory into practical and workable guidelines with specific Buy and Sell patterns. There is no longer any guesswork. You will be able to match the wave patterns as they are happening in real time and execute the trade according to established rules.
One reason I wanted to publish this book was to provide other traders with reliable Elliott Wave-based strategies rather than a rehash of Elliott Wave theory. Thus I have kept certain aspects of the theory to a minimum and presented the material that I know from experience works. Until I can distill reliable rules, I feel that it would be unfair to present other information as the truth when in fact it still requires further research. The first chapters of this book, which deal with Elliott Wave basics, will teach you the concepts and help you understand the C wave patterns. These C wave patterns are complete within themselves and stand alone without any other technical indicators or other market inputs.
Contents:
- Basics of Counting Waves
- Elliott Wave Principles
- Guidelines for Counting Waves
- Logic of Counting Waves
- C Wave Patterns
- How To Find C Wave Patterns
- Profit Takes
- Alternate Counts and Recounts
- C Wave Patterns on Daily and Intraday Charts
How to Identify High Profit Elliott Wave Trades in Real-Time By Myles Wilson Walker PDF
10 reviews for How to Identify High Profit Elliott Wave Trades in Real-Time
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Anastasia McDonald (verified owner) –
Extremely useful for understanding and using Elliott waves in real time. Clear description of patterns to be used operationally.
Braxton Rubio (verified owner) –
I found this book to be a waste of money. One just doesn’t know why some pivots have been considered and some not considered at all. In effect: Total Waste
Colt Simpson (verified owner) –
This book is closer to Neelys style of Elliott wave than Pretcher
Therefore some of the concepts such as the extended B wave are a
little hard going if you’ve been brought up on Pretchers Style.
Two Points came across strongly to me and that was every wave can be counted and those waves fit a templete which is matched to the reference diagrams in the book.
I have found this templete matching invaluable in my own trading especially in day trading. The book does not attack long term
wave counts but methodically describes how to get on to corrections within the trend at the lowest risk.
I read the review above and I think this is where the reviewer has come unstuck. The system is not intended to find long term
Elliott Waves but is more for swing and day traders, also I am sure that the writer doesn’t think you should label every chart in such detail as in the examples but he has done so to show that all the waves can accurately be counted.
This is a simple but powerful, step by step method that is easy to follow and fits the needs of active traders who want to make an accurate trade now rather than go through the esoteric exercise of guessing where the market will be in 2010 as in Pretchers case.
I can strongly recommend this book.
Sage Whitaker (verified owner) –
Myles Walker has written the best book on trading with Elliott
Wave that I have ever read. it was simple elegant and put the icing on the cake for me in terms of correct entry method for Elliott. It really helped me in a practical dollars sense. Apparently He has also done a lot of Gann work and a book on it but I must admit to not owning the Gann book yet.
Ivanna Delgado (verified owner) –
Mr. Walker presents us a good book about how to apply the Elliot Wave principle in the markets.
Most of theory is not presented here in detail, just an overview and the basic rules(the importante part).
After that, its application is demonstrated with plenty of charts, from a variety of markets, what is a good thing.
The missing points, in my opnion, are that Fibonacci studies are not applied within wave counts in the charts(even so, Fibonacci levels that characterize each wave are cited in the book as well) and other technical indicators, as oscillators, are also not used as a tool that help in wave count confirmation.
What makes this book worth the money is the practical approach to Elliot Wave, whith a clear entry/exit strategy and a “real-time” application in chapter 10, with objective counts, that put subjectivey a little aside the discussion(subjectivity is one of the points used against Elliot Wave principle).
Kaia Tran (verified owner) –
I believe it would be fair to say that what a person gets out of a book on trading has a lot to do with their ability to understand and relate to what they read and the degree that the new information gels with what they already consider to be true. Having said that, I am glad that I did not allow so-so reviews of this book to stop me from purchasing it. My interest is in day trading e-mini futures. Other books I have read relating to Elliott wave have only provided minimal general guidance. This is the only book on Elliott wave that I have found invaluable. It took a few readings and some practice but, low and behold, I can now (often) scrutinize a wave and determine if it is an impulse wave or a correction. The beauty of this is that it allows you to know if you are still in a correction or if the trend has resumed. It allows you to know if there has been a 5th wave failure or if some form of correction is still developing. At the end of a 5th wave when the market is spiking up and down I can eventually tell if a new thrust in the direction of the trend is part of the trend and possibly the end of the 5th wave or whether it is just a part of a diagonal triangle. I have a long way to go in mastering it but I can often see the C wave patterns and appreciate what is going on. All in all, the market makes more sense to me now. One reviewer commented that doing this would not be possible on intraday charts. I would have to disagree. Even small C waves can take 30 minutes to hours to develop. Once the market has made enough of a move to recognize the correction you would only need a couple of minutes to figure it out even if you consulted the book. So, in short, I am impressed and consider this the best book on trading I have ever read.
Hadassah Leach (verified owner) –
As a seasoned trader using elliott wave myself I found this book to be confusing at best. Once you get past the numerous typographical errors (the difference between wave a and wave A causes much confusion for example) you are dealing with a book that is mostly just a semblence of hand completed charts espouted in any old order the writer fancied. The strange thing is that these charts, and the methods described all date from 1994. Disregard the published in 2001 notice.
The author has overcomplicated the method he describes. This has certainly done my trading more harm than good. And I was already pretty proficient in Wave theory! He would have you create vastly overcomplicated charts and overlays to carry out this method. He then has the cheek to show various intraday examples of his work. This would simply be too short a time frame to carry out his instructions. So it ain’t “real time” either.
Brian Mann (verified owner) –
this book is very useful in real operate,but it’s too big .so I suggest to change to small pages in the next publication.
Paislee Garner (verified owner) –
I am not an Elliott Wave trader though for years I have read most books on the subject and I like the way the author presents the topic and the examples which facilitate matters for the reader . It does make a big difference believe me . Unlike authors who prefer to show diagrams he shows real charts with his examples plus diagrams .
This book is a valuable addition as it enhances the ability to practise competent interpretation with fewer inhibitions and uncertainty , now how profitably I cannot tell as I don’t trade that way as I said earlier .
Calvin Acosta (verified owner) –
Despite that the book has only 200pages and half of it are charts, and despite the fact that it
covers Elliott Wave only in a very basic way, i can say one thing about this book:
i am sure that with this book and a little more knowledge about Elliott Wave you’re going
to trade EVERY market in the world successfully and make money.
I own dozens of books and never said that about one of those books before.