This book is too much for my meager mind. I understand the basic concept of the wave and the 5/3 pattern but then there is the "well perhaps if it doesn't do this or that or the other". The multitudinous alternative options are absolutely mind blowing.
She is once again talking about her own proprietary RSI. She mentions on more than one occasion that you won't know the end of a Third wave or five wave without her indicators! The author is writing a book about Elliott wave. I want a better explanation for finding the end of a trend using the very thing she is writing about-waves. Not,that you won't find it without divergence on her custom tools that I would have to pay for to get access to!
Great book to understand elliotwaves. Basically the book start from chapter 2. It is well understandable. if you want to learn about elliotwavs, do not only read this book. You can go to Youtube and type elliotwave patterns to learn more about elliotwaves. good luck.
This book is exactly a typical Constance Brown book well thought, organized and innovative. I am a novice elliot wave student and was waiting for this book to come out since 6 months. This book is not a typical elliot wave book where author lays down the rules and all the description of the waves and then you get so lost in reading so much detail about the personality of wave and the rules that you actually forget to apply it practically. The author has introduced the concept by first teaching how to distinguish between price swings and waves which actually are different than most of us think. This is followed by explanation of effects of balance and proportion in the markets and how it can be used to identify elliot wave counts with her new approach.Then the author explains impulse waves and basic corrective patterns seen in the markets. After introducing new concept the author tries to actually test to see if the reader had understood before going forward with next topic. The amazing thing is that she has probably taught so many students that she actually knows where a elliot wave student would make mistakes and she points out every time she can. Also the author has shown the elliot wave counts for different time frames which actually helps to visualize in real time how to form a perspective when counting the waves. One of the main questions that I had was about which chart type to use and how to figure out if your count is right both of which have been answered. As the author said this book by itself will not help the reader become a master in elliot wave counting so will be waiting for the part 2 of the this series.
Other books on the Elliot Wave Principleleft have me in a place where I could understand the basic structures, but lost and confussed if I was put in a real time trading situation. Constance Brown's book has started to lift the fog. Clearly she has taught this subject to others over time. She has devised a different approach to learning, while being true to the EWP. From the very beginning the difference between price swings and price waves, as well as the importance of training the eye toward the underlying proportions, establishes a new and useful prospective for understanding EWP. I have read through it once, and started my second read through. It's the best. Looking forwards to Part 2 in 2013 (hope its early in the year!).
When it comes to elliottwave analysis Prechter book used to be the only reference for it. The problem is you won't find any other book that actually follow Robert Prechter Rules ( Eliottwave Rules ) in any other published books. Different technical people started tweaking and playing around as each one see it fit, which is not Elliottwave !
The major problem in Robert Prechter book is not really designed to take you step by step and how to do it in real life, you will defiantly have to get a copy from it though but when it comes to practicing elliottwave its completely something else. I had to read the book five times and subscribe to elliottwave newsletters just to understand how to actually do it. And I didn't want to buy any other elliottwave books simply because I didn't want to learn other RULES I wanted to learn from the source of the theory itself not from someone else played with it.
It wasn't until I came across Constance Brown book trading For Professional when I had a big jump in my technical analysis career, in elliottwave and in understanding market behavior. From my reviews you can see I read a couple of technical analysis books. By far Constance Brown books are the best in my collection; I own all of her books from the basic all the way until the last one. Understanding elliottwave need a lot of focus and concentration Connie in her books takes it step by step to make it very easy to understand the theory and most importantly it follows elliottwave rules with a much deeper explanation to it. Combine this with constance brown Gann experience and you get a deeper understanding of market behavior and elliottwave analysis. I can't wait to read part 2.
I have received a complimentary copy of this book for participating in the book review before releasing it.
This book is not not a test book as any privious Constance Brown books. It is not the book for begginers. After reading you will not became prificient. What is important this book chalanges your intellect and show to you different view and prospective. What could be learn is depend on you. The book only gaves oppportunity to learn. We should be thanksful to the author for each hint she gave to us.
Product Details :
Hardcover: 143 pages
Publisher: Bloomberg Press; 1 edition (May 1, 2012)
Language: English
ISBN-10: 0470923539
ISBN-13: 978-0470923535
Product Dimensions: 6.5 x 0.7 x 9.4 inches
More Details about Mastering Elliott Wave Principle: Elementary Concepts, Wave Patterns, and Practice Exercises 1st edition
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