Elliott Waves discussion

I have been trading forex for a while, but must confess that I have not as yet studied the Elliot Waves. I got an 80 page article on the Web on this, and by the looks of it, it will take me quite a while (may be a couple of months) to really understand AND APPLY this system coherently. It seems worth my while, though. Anybody out there who has recorded improvement in analysing and understanding the markets better and even improved his/her trading using Elliot Waves? Any suggestions?

Two resources... 'Dynamic Trader' by Rober Miner you can get this one at his website for around $ 70.. You might want to try the public library if you live in USA buy I would be surprised if they had it. I am currently reading/rereading this. It is long and at times complicated. It works on the theory that when EW patterns, price retracement/projections and time projections coincide, there will be a high or low end of wave. Using other tools and EW knowledge, you can determine with high probability what direction the market will go.

Miner also sells a trading pkg software that really helps with the calculations, but at $ 1700 plus a monthly data feed, out of my reach.

If your chart pkg has price and time fib tools and you can manipulate them and add/change their settings, then you can do 2/3 of what you need. If you can identify a price wave as an impulse or a retracement, then you are part of the way there re EW. Miner is not a stickler re numbering waves, he comes comes at it in a practical way. Your aim is not to become an EW purist, but rather what are the tendencies and the probabilities for trading.

Another EW study you might want to look into is Advanced GET. Maybe this is the one you have from the web. I have an ebook on this , am just starting to look at it.

Lou

Could you guys post some links to any of the web based articles or e-books?

Thanks in advance
Jimmy

http://www.dynamictraders.com/futures.htm

I can say that EW analysis is not that easy. After studying the basic rules you may think that it is easy and anyone can analysis with EW. But really it takes a long time. A lot of probabilities you will find and a confusion is there everywhere. To Work with EW you have to keep it simple, don't go into many details, you have to put two or more scenarios for the wave count and establish your trade setup among the higher probability.