[.ca] Applying Elliot Wave Theory Profitably (ISBN 0471420077)

Understand the market for the first time:
Before reading this book I was a struggling with the question of technical analysis vs fundamentals.I was losing money and I felt true fear for the unpredictable market.I am in forex and I just could not get it right.As soon as I could draw a trendline it was violated , I felt the prey of the market and I felt that I did not know where I was and where I was going. By reading Mr Poser's book and learning the basic as well as the more advanced concept of elliott my whole trading life flashed in front of my eyes - how many times has technical analysis faltered me because of basic elliott patterns - I understood why technical analysis had failed me and how I could use elliott to fill the gaps and the shortcomings I had experienced . I can honestly say that this book and Mr Poser's approach as depicted in this book has turned me from struggling trader to an excelling trader.For novice to expert I would highly recommend this book ( If I were a dictator I would force it on the people )because by using this book you are unlocking the secrets of the market forever. The way Mr Poser takes you through the trading plans and adds more and more evidence enables the average man to unlock his destiny and outperform many a portfolio manager! Thanks Mr Poser for this book , it has had a huge effect on the destiny of my trading career as well enriching my whole life After this book I know where I am in the market , why I am there in the market , where I am going in the market and believe it or not - even how long it will take me to get to where I am going in the market.A must read for every every trader.

a concise and practical guide to using elliot wave:
this book is well written and laid out beautifully. the author first explaining what each chapter is about; he slowly guides you along on the subject at hand -- how to use elliot wave theory profitably. he starts off by discussing how we should read the waves. the basics of each wave. these are discussed in a clear and concise manner.he constantly emphasises on the need to combine various factors like the economy, using indicators, reading crowd psychology etc, into reading the waves. the intersting thing about this author is that he is trying to teach how the reader should be 'street smart' in wall street... the next few chapters would see the author sharing some of his analysis to show you how to apply elliot wave theory profitably. this so that you can see how to apply what you've just learnt. in the final chapter, he tries his hands at doing some predictions using what he just wrote on the dow jones, the US$ and the nikkei. i'm giving only 4 out of 5 stars because i find some discrepencies in chart references. a few charts are not labelled as the writer referred to. causing some minor confusions. however, the content and presentation of this book is excellent. the best book on eliiot wave i've read.

Poorly edited, complicated, save your $$:
The Author speaks only about himself, with this book you won't go anywhere, this book poorly written simply forget the reader, and makes Elliott 's waves even more difficult. the best are "Prechter books". Don't listen to the other reviews they must be made up. Sorry.

Best Elliott Wave book so far:
Poser has put together a very good book. He shows you how to use Elliott Wave without turning it into some sort of mystical religion. He does not say that there are times that you cannot trade with Elliott, but he does tell you what to look for when the patterns start to get sloppy. He also shows you how to do your research (and turn it into a trading or investing strategy) and very importantly shows the link between market psychology and the wave patterns. The book also explains how to use Elliott along with technical indicators and classic chart patterns. No book is perfect, and although Poser does give you detailed trading plans, and also presents some trading tips, I wish he would have made the tips a more consistent feature throughout the book. His clear writing style and clear depth of knowledge makes this an excellent choice for somebody who want to learn how to use Elliott Wave and why it actually works. In the end, the book is aimed at showing you how to use Elliott to trade, which is why this book is a buy for anybody interested in learning how to use the Elliott Wave Principle in their trading.

A logical approach for discretionary traders...:
Most of the literature on technical analysis focuses on easily compuerized techniques, such as moving averages, momentum divergences, volume/price comparisons, etc. The authors of these books advocate a mechanical approach to technical analysis, and stress the benefits of objective rules to reduce emotional errors. These techniques have become quite sophisticated, from examining the effect of various money management algorithms, to using out of sample data to test the ability of the system to trade in different conditions. I do not dispute that these techniques have substantial value for some traders. Yet, for all of this sophistication, I think most of this research is of limitted utility, for the simple reason that past performance has NO RELATION to future results. If a clearly definable system is discovered by a significant number of people, the markets inevitably change to render that system useless. Then, once the system is deemed useless by the majority, it's likely they will turn profitable again. Even system traders need to understand market psychology and logic in order to develop robust systems. This book will help them do it. Mechanical systems neglect the underlying psychology of market participants. In an environment where the only constant is change, a successful trader needs an underlying philosophy to guide him on what is likely to lead to profits NOW, as opposed to what has happened before. This is where Mr. Poser's book comes in. Poser teaches you that technical analysis is about understanding CURRENT market psychology. He does this through the framework of Elliott Wave theory. He also stresses the importance of other factors--including classical technical tools, computerized techniques, fundamentals, and intermarket relationships relate and enhance the interpretation of Elliot wave theory. He describes how to develop detailed trading plans that take into account these various factors. As someone who focuses heavily on price patterns and momentum indicators, this is a method that I had sort of stumbled upon independently, as I have gained experience trading the markets. It isn't mechanical, but it is clearly a logical and flexible framework for those up to the challenge of discretionarly trading.