"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.
Steven W. Poser 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,
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.
Table of Contents
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.
222 pages