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Applying Elliot Wave Theory Profitably

ISBN: 978-0-471-42007-1
240 pages
July 2003
Applying Elliot Wave Theory Profitably (0471420077) cover image
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.
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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.

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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.
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