The really cool thing about the with Elliott’s discovery was the fact that now traders would no longer look at market upswings and downswing as random or chaotic price movements but now they can find order and structure in those price movements.Įlliot named this discovery after himself, calling it the The Elliott Wave Theory. This is what really matters to traders=making the right prediction about where the price will go next or not go next.
He analysed 75 years worth of stock data and stumbled upon a discovery about the behavior of the stock market. He was the guy who came up with this Elliott Wave Theory. There was a guy in the 1920’s/30’s who was called Ralph Nelson Elliott. Let’s get started! Who Developed The Elliott Wave Theory? So, that’s why I have put his Elliott Wave Trading Course together to write it in a simple way to make newbie forex traders understand Elliott waves and Elliot wave theory better better.Īnd if that is the part you want to take, I hope that what you learn here will take you a long way… The hardest part is the application part!įrankly speaking, there’s too much work involved in Elliott wave analysis and who really has time for that? As a matter of fact, the easiest part is the theory part. The basic Elliott wave theory itself can be understood if you spend a bit more time on it but the application part in real time trading is what gets most traders lost…and I mean SERIOUSLY lost in some cases.Įlliott wave trading is not that easy to understand…at first.
Where do you being the wave count? Is this the 1st wave, the 2nd, the third. The application of the Elliott Wave theory in real time trading gets difficult because the charts look messy.The Elliott Wave Theory itself is difficult to grasp at first.
There are two things that make many forex traders stay away from trying to understand how to trade Elliott Waves: And then there’s the Elliott wave fractals…what’s that supposed to mean?Īnd guess what? That is not the complete list!.You see, I consider myself pretty good when it comes to price action forex technical analysis but when it comes to Elliott waves, even the “old dog” gets lost sometimes…Įlliott Wave Theory and How to trade it, is without doubt one of the most difficult trading concepts to understand because you are now just focusing on one or two things but quite a handful of them. The Elliott wave theory, ( or some call it the Elliott Wave Principle) Elliott wave analysis and how to trade Elliott Waves can be a mind boggling trading concept to understand especially for a new forex trader.