"Hello again Roy


We emailed last month regarding FTSE and gold and your inclusion of   FTSE in the daily video has been much appreciated so big thanks for  that.....

Thanks again for the daily videos which are a far, far more instructive way of learning than any forum/book etc. Very innovative.

Dr  A. Keeling  27 May 2010"

 "Only those who fail to realize the risk will venture their resources in stock speculation without first learning how."

 "Stock speculation conducted under scientific procedure is a reputable and meritorious avocation. It is not gambling; it is using intelligent foresight."

                                                                                                                                                             Richard  W.  Wyckoff

You may  belong  to one of the following  three  categories:

A Beginner- You  are new to trading, or have had some initial experience testing out some methods, with various degrees of success. You are interested in learning of a more focused, precise method to trade the markets. 

 The Elliott Wave Principle is such a method. It enables the trader to identify with a high degree of probability if the market is in a  trending phase or a corrective one. If trending, then  whether  up or down , and if corrective, then the scale and the boundaries of  such a phase.

The method  has, frequently, this amazing  forecasting  ability  inbuilt in it due to the reliance on the recurrence of  chart patterns. Themselves  a  product of  a repetitive human  behaviour which is  largely predictable. (See further details on the technicalities of the method on the page on R.N.Elliott)

If you have never traded before then I strongly advise you not to start immediately but follow the constant updating on the website of the various markets to get a feel  for  the method. Get to know the building blocks of the Principle and  observe them in real market action. Do it long enough(at least for several months) until you find yourself anticipating the next move and seeing it in your mind's eye. Until you begin to learn to speak the first few sentences of this language of the markets. Do not be discouraged if the market proves trickier than you think, even very experienced  Elliotticians   encounter daily,  situations that tests their best abilities.

You also need to take into account other aspects of this trading activity before you step a foot into this field. Some of these aspects may be completely invisible and  incomprehensible to you, depending on where you come from and your previous training/occupation. See more in my page on Psychology and Trading, as well as in the page  on Trading and The Arts.

An Intermediate  Level  Trader- You are familiar with the method, you are able  to anticipate some of the moves but you still get this structure slipping off the track you prepared for  in your head. Your reading is improving  but the sentences  you  encounter  need  further  dwelling on to yield their meaning.

You may need some help putting the building blocks  you  identified into a coherent picture.  You may find suddenly that you can't fit the pieces into a perfect  Elliott  Wave  structure. Here the practical aspect of my work comes in. However  much we would like the market  to display 100% perfect  Elliott Wave patterns 100% of the time, the reality is that it is not always the case  and sitting waiting for that elusive wave count to resolve may be a losing proposition. I mobilise  other  simple technical tools to examine if the  pattern evolving is tradeable and how. 

 An Advanced  Trader- You are trading, using the  Elliott Wave Principle and are totally comfortable with the predictable and unpredictable sides of this activity.  You tackle wave counts  that don't fit, or you tackle a picture with too many possible  wave counts  which  brings you to confusion, indecision . You need a fresh look.  You need maybe a radical change of perspective. Or  your  wave counts  fit but  you simply need that bit of  encouragement that comes from seeing  your wave counts mirrored by another  experienced   Elliottician.  I hope I can provide that additional  input to get you closer to your next profitable trade.