Applying Elliot Wave Theory Profitably

Learn how to forecast the market with Elliott Wave Theory
In Applying Elliott Wave Theory Profitably author Steven Poser shows readers how to trade using Elliott Wave Theory-a powerful technical analysis tool used to forecast the stock market-through easy-to-follow trading strategies, while offering clear explanations on how to interpret this method's numerous patterns. Step-by-step guidance breaks down the Elliott Wave Theory and provides strategies that a trader can put into action along with a complete explanation of how and why the Elliott Wave Theory works. Applying Elliott Wave Theory Profitably shows readers where to look for external clues, and how to use these to improve their trading performance.
Steven W. Poser (Upper Saddle River, NJ) is President and founder of Poser Global Market Strategies Inc., an international stock, bond, and currency markets trading advisory firm. Mr. Poser publishes a daily newsletter that covers these markets from a technical and fundamental perspective. He holds a post-MBA degree in finance, as well as an MBA in economics and a BA in mathematics and computer science.Die Elliott-Wellentheorie wird eingesetzt, um die Entwicklung am Aktienmarkt vorherzusagen. Sie ist zwar ein leistungsstarkes aber nicht ganz einfach zu handhabendes Tool der Technischen Analyse.

"Applying Elliott Wave Theory Profitably" ist ein praktischer Schritt für Schritt-Leitfaden zur praktischen Anwendung der Elliott Wellentheorie.

Autor Steven Poser erläutert umfassend und detailliert, was man unter der Elliott Wellentheorie versteht und wie und warum sie funktioniert.

Darüber hinaus erklärt er, wo man nach marktexternen Hinweisen suchen muss und wie man diese nutzt, um seine Handels-Performance zu verbessern.

Das Buch vermittelt ausserdem leicht nachvollziehbare Handelsstrategien, die ein Händler sofort in die Praxis umsetzen kann.

Steve Posner ist ein angesehner Technischer Analyst. Foreword.

Introduction.

CHAPTER 1: Surfing Basics.

The Basic Pattern.

Investor Psychology and Sentiment.

Psychological Basis for Technical Analysis and the Elliott Wave Theory.

The Right Charts.

The Basic Formations?Impulse Waves.

The Basic Formations?Correction Waves.

The Basic Formations?Wave Characteristics.

The Contrary Opinion Trap.

Sentiment and Technical Characteristics of Waves.

Dow Theory and Elliott Wave Theory.

The Fractal Nature of Price Movements.

Impulse versus Correction and the Time Factor.

Practical Pattern Recognition.

Multiple Time-Frame Analysis.

Summary.

CHAPTER 2: Advanced Concepts.

Complex Corrections.

Elliott Wave and Classical Technical Analysis.

Failed Fifth Waves.

Summary.

CHAPTER 3: Tsunami or Wavelet?Measurement Techniques.

The Golden Ratio.

Retracements.

The Tendency of Alternation.

Flats versus Zigzags.

Triangles.

Price Projections and Targ ets.

Time Cycles.

Fibonacci Day Counts.

Summary.

CHAPTER 4: Interlude?Does Elliott Work Outside of the Stock Market?

Elliott Does Not Require Prices to Rise Forever.

Explaining Rising Equity Market Prices: It?s Not Just Inflation.

The 1929?1942 Depression Era Triangle.

Elliott Waves for All Markets.

CHAPTER 5: Building an Elliott Wave Trading Plan.

What Time-Frame Will You Trade?

Know Your Risk Profile.

Computer-Generated Wave Counts.

Look at Your Potential Trade in Multiple Time-Frames.

Get the Fundamental and Sentiment Pictures.

Keep an Open Mind.

Getting Started.

Step 1: Preparation and Initial Research.

Step 2: Long-Term Data Review.

Step 3: Sharpen Your Time-Frame Focus.

Step 4: Trading Time-Frame Analysis.

Step 5: Review Charts One Time-Frame Lower.

Step 6: The Details.

Step 7: Monitoring.

Summary.

CHAPTER 6: Tying It All Together.

The Bubble Bursts: Intel Corporation.

The Dollar and the Yen.

Hot Chocolate.

Day Trading with Elliott.

Summary.

CHAPTER 7: The Psychology of an Elliott Wave?Based Trader.

Trading and Analysis Are Two Different Things.

Know the Psychology of Indicators.

Control Your Emotions.

Knowledge and Intelligence Are Necessary But Not Sufficient for Good Trading.

Separate Yourself from the Crowd.

Trading Systems.

Understand Why You Are Placing an Order.

Understand What You Trade?The Charts Are Not Enough!

Don?t Forget Your Wave Characteristics?Make Sure Your Counts Are Consistent with Market Sentiment.

Summary.

CHAPTER 8: Future Waves.

But You?re a Technical Analyst?Why All the Economics?

The State of the World?2003.

Whence the Dollar.

Japan?s Bear Market Ends.

Notes.

Index.

Steven W. Poser is President and founder of Poser Global Market Strategies Inc. (www.poserglobal.com), an international stock, bond, and currency markets trading advisory firm. Mr. Poser publishes a daily newsletter, which covers these markets from a technical and fundamental perspective. He is also the Editor of The ETF Authority, which specializes in analysis of exchange-traded funds. Mr. Poser is an educator as well, and provides custom technical analysis training to individuals and corporations. He is regularly quoted by the financial press and has been a frequent guest on CNBC, CNNfn, and Reuters Financial Television. His clients include many of the largest institutional trading desks, mutual funds, and hedge funds, as well as a coterie of retail accounts. During the late 1920s, Ralph Nelson Elliott theorized that stock markets do not behave in a random, chaotic manner, but rather that they move in repetitive cycles, which reflect the actions and emotions of humans caused by exterior influences or mass psychology. Elliott believed that the ebb and flow of mass psychology reveals itself in the same repetitive patterns––illustrated by recognizable "waves." It was at this point that Elliott Wave theory was born.

Since its discovery, numerous books have tried to capture the essence of this revolutionary forecasting method, but they either made Elliott more complicated than it needed to be, or, in an effort to overcome the perceived complexity of analysis using Elliott, oversimplified the process.

In Applying Elliott Wave Theory Profitably, author and Elliott Wave expert Steven Poser makes sense of this proven trading strategy and gives you the most well-rounded and straightforward lesson on how to make money using Elliott Wave theory. Drawing from his many years of Elliott Wave experience, Poser:

• Reviews how and why technical analysis works, and shows you where the Elliott Wave theory fits into that picture
• Reveals each of the basic and advanced patterns that the market might trace out and discusses the market conditions that typically produce these patterns
• Outlines how to build an efficient trading plan
• Illustrates how to continuously update your plan in real time as the market provides you with further information by way of a constant stream of prices, volume, and news
• Examines how to review the market from multiple time frames, so you know what degree of price retracements to expect, as well as what your risks and rewards may be

Filled with in-depth insights, expert advice, and a set of sample trading plans, this book will take you step by step through the process of understanding how and why Elliott Wave theory works––as well as show you when and where you are most likely to profitably apply Elliott Wave to improve your trading. You don’t need to trade every day to gain substantial profits, but when it is time to trade, using Elliott Wave theory can make all the difference.

"I have always found Elliott Wave difficult to understand and more difficult to apply, but finally Steve Poser has written a book that makes sense and is born from real experience. This is not Elliott made easy but Elliott that makes sense. Hats off to Poser for creating the book the marketplace has needed for so long."
–Bruce M. Kamich, CMT
Adjunct Professor of Finance at Baruch College and Rutgers University
Past President of the Market Technicians Association

"Steve Poser is one of the few people I’ve met who can integrate Elliott Wave analysis into a normal conversation on the markets and make sense."
–Michael Kahn
Editor, Quick Takes Pro technical newsletter
Technical Analysis Columnist, Barron’s Online

Numerous books have tried to capture the essence of Elliott Wave theory, but they either made Elliott more complicated than it needed to be, or, in an effort to overcome the perceived complexity of analysis using Elliott, oversimplified the process.

In Applying Elliott Wave Theory Profitably, author and Elliott Wave expert Steven Poser takes a fresh approach to this proven trading strategy, giving you the most well-rounded and straightforward lesson on how to make money using Elliott Wave theory. Drawing from his many years of Elliott Wave experience, Poser:

• Explores how and why technical analysis works, and shows you where Elliott Wave theory fits into that picture
• Reveals each of the basic and advanced patterns that the market might trace out and discusses the market conditions that typically produce these patterns
• Outlines how to build an efficient trading plan
• Illustrates how to continuously update your plan in real time as the market provides you with further information by way of a constant stream of prices, volume, and news
• Examines how to review the market from multiple time frames, so you know what degree of price retracements to expect, as well as what your risks and rewards may be

Written in a clear, easy-to-understand manner, Applying Elliott Wave Theory Profitably is a thorough and essential resource for any trader looking to better understand a proven trading strategy and boost their bottom line.