Elliott Wave Theory and Practice. Part 1
Author: Dmitriy Gurkovskiy
Dear Traders,
If the market were a linear structure, and we could detect the end of one trend and the beginning of the next one with 99% exactness, as well as to detect the target area of its development, then trading would be the easiest and most profitable business in the world.
Unfortunately, things are quite different. Of course, a long history of trading and market studies has taught us to define reversals more or less precisely, as well as calculate the expected length of the trend; however, for many traders, this is not enough. A great number of analysis techniques and methods helps a trader or analyst feel confident on the market; however, problems emerge when it comes to one's personal ability to apply those techniques to practice. Many do it well, but the majority, with their primitive remakes, end up stuck in a network of locks, trying to get untangled from useless positions.
Having studied several methods and applied them to practice, many get disappointed, not receiving the desired result, but never give up and keep looking for that one precise method. Sooner or later, many come to the Elliott Wave Theory because, in it, they see that method of market structure analysis that can virtually predict the future with a high level of precision. Their hopes are not void, as experts in the theory have repeatedly demonstrated astonishing results in trading and analysis. So, this article is devoted to Wave market analysis and the Wave Theory. We will get acquainted with the history of its appearance and development, its main statements and rules of analysis.
So, this article is devoted to Wave market analysis and the Wave Theory. We will get acquainted with the history of its appearance and development, its main statements and rules of analysis.
History of the Elliott Wave Principle
In the preface to his book about the Elliott Wave Principle, Hamilton Bolton wrote that he noted the efficacy of the Elliott Wave Principle in such unpredictable economic events as the depression, the great war, the recuperation after the war and the subsequent significant growth. Hence, he became sure that the Principle had fundamental significance.
The one to discover the wave principle of market development and formation was a US economist Ralph Nelson Elliott. Due to an illness that made him remain in bed, he could not find a decent occupation for a long time and got interested in technical analysis for trading on the stock market.
After a long period of studies, in 1938, he published a book called "The Wave Principle", in which he described the basics of the principles of market movement formation that he had discovered.
Read more at R Blog - RoboForex
Sincerely,
RoboForex team
Author: Dmitriy Gurkovskiy
Dear Traders,
If the market were a linear structure, and we could detect the end of one trend and the beginning of the next one with 99% exactness, as well as to detect the target area of its development, then trading would be the easiest and most profitable business in the world.
Unfortunately, things are quite different. Of course, a long history of trading and market studies has taught us to define reversals more or less precisely, as well as calculate the expected length of the trend; however, for many traders, this is not enough. A great number of analysis techniques and methods helps a trader or analyst feel confident on the market; however, problems emerge when it comes to one's personal ability to apply those techniques to practice. Many do it well, but the majority, with their primitive remakes, end up stuck in a network of locks, trying to get untangled from useless positions.
Having studied several methods and applied them to practice, many get disappointed, not receiving the desired result, but never give up and keep looking for that one precise method. Sooner or later, many come to the Elliott Wave Theory because, in it, they see that method of market structure analysis that can virtually predict the future with a high level of precision. Their hopes are not void, as experts in the theory have repeatedly demonstrated astonishing results in trading and analysis. So, this article is devoted to Wave market analysis and the Wave Theory. We will get acquainted with the history of its appearance and development, its main statements and rules of analysis.
So, this article is devoted to Wave market analysis and the Wave Theory. We will get acquainted with the history of its appearance and development, its main statements and rules of analysis.
History of the Elliott Wave Principle
In the preface to his book about the Elliott Wave Principle, Hamilton Bolton wrote that he noted the efficacy of the Elliott Wave Principle in such unpredictable economic events as the depression, the great war, the recuperation after the war and the subsequent significant growth. Hence, he became sure that the Principle had fundamental significance.
The one to discover the wave principle of market development and formation was a US economist Ralph Nelson Elliott. Due to an illness that made him remain in bed, he could not find a decent occupation for a long time and got interested in technical analysis for trading on the stock market.
After a long period of studies, in 1938, he published a book called "The Wave Principle", in which he described the basics of the principles of market movement formation that he had discovered.
Read more at R Blog - RoboForex
Sincerely,
RoboForex team
