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Thanks for telling us about the problem. Return to Book Page. Preview — Elliott Wave Principle by A. Frost Contributor ,. Robert R. Prechter Jr. Charles J. Collins Foreword by. From the Publisher "This is a definitive, excellent book on Elliott, and I recommend it to all who have an interest in the Wave Principle. It is the definitive work on a scientific wave theory of human experience. If you are interested in technical or wave analysis, it should be From the Publisher "This is a definitive, excellent book on Elliott, and I recommend it to all who have an interest in the Wave Principle.
If you are interested in technical or wave analysis, it should be required reading. It is clear, brief and bold I don't think a better basic handbook of Elliott Wave theory could be written. Hoppe, Business and Investment Analysis " A top-drawer reference for serious technical analysts All the methods that Prechter has used so successfully are fully described in this book.
Get A Copy. Paperback , pages. Published February 8th by Wiley first published November 30th More Details Other Editions Friend Reviews. To see what your friends thought of this book, please sign up.
To ask other readers questions about Elliott Wave Principle , please sign up. Dhiaa actually it contains the most sophisticated description of the corrections. See 1 question about Elliott Wave Principle…. Lists with This Book. Community Reviews. Showing Average rating 3.
Rating details. More filters. Sort order. Jan 18, Ian Robertson rated it liked it. Rather, it unfolds in waves, and "when presented clearly, the basic tenets of the Wave Principle are easy to learn and apply" authors' note. Authors Frost and Prechter certainly deliver on their second point, presenting clearly and in concise chapters: the broad concept; guidelines to wave formation; the historical and ma "The stock market is not a random, formless mess reacting to current news events but a remarkably precise recording of the formal structure of the progress of man" page Authors Frost and Prechter certainly deliver on their second point, presenting clearly and in concise chapters: the broad concept; guidelines to wave formation; the historical and mathematical background; ratio analysis and Fibonacci time sequences a most interesting section ; long term waves Millennium waves, grand super cycles etc.
For those less technically inclined, there are helpful suggestions to skip certain sections and chapters, but it's all here, in a neat package with ample charts and clear writing.
The authors are careful to note that the Elliot Wave theory is not a predictive tool, but rather it helps investors' relative convictions that the next market moves will be upwards or downwards, and by how much. Because the book was originally written more than 30 years ago, the contemporary charts and examples are now dated, but the forecasts of then still distant market behaviour "investor mass psychology should reach manic proportions", with a a Kondratieff wave inspired crash around the Millennium!
Like Hyman Minsky's economic predictions made around the same time , Frost and Prechter also foresaw worldwide banking failures and economic collapse at the market's peak. Unfortunately the excellent writing is undercut by a fatal flaw -- there seems to be little evidence to support the work.
For example, the authors note that the theory works for both stocks and commodities, but they examine index levels and ratios while ignoring dividend policies and rates for stocks, an important component of an investor's total return. The proof is best summed up in the book's final line, "As long as the market fulfills expectations, we can assume we're still on track.
Sweeping statements to support theories also lack empirical backing. For example, introducing the year cycle of Kondratieff waves, the authors cite similar waves in Israelite and Mayan civilizations, but the brief reference leaves readers wondering whether these two civilization actually had such cycles, and if so, why those civilizations and not others.
Didn't Kondratieff visit China or France? Compared to the excellent and theoretically robust work by Minsky on the behaviour of markets and economies driven by human nature, but unpredictable and unstable and even the more straightforward but well documented work of Jeremy Siegel Stocks for the Long Run or Dimson et al Triumph of the Optimists for the upwards trajectory of stocks in the long run, this work is very weak.
At best it demonstrates a correlation, not cause and effect "a precise recording of the history of man? The data is mined with precision and thankfully, as few actually follow it, with little environmental impact.
In a concluding irony given their dismissal of fundamental analysis, the authors try to confirm their theory of patterns by noting the relative valuations of the market at different times undervalued or overvalued. Most analysts would start with the fundamental and skip the charts. Those who are Elliot Wave adherents will undoubtedly have read this book already and enjoyed it.
Those interested in this particular segment of markets history or in technical analysis can read this book, but it will be of little interest or use to the average investor. Aug 12, Terry Kim rated it it was ok. I struggled through this book. This book was so hard to understand and grasp. I started reading this book excited to learn about Elliott Wave Principle.
In the first few chapters, the books starts off stating "if you are not an analyst skip through these chapters and go to chapter 3".
I decided I'll read through everything word for word. Which ended up being figures, numbers and historical data which I found hard to piece together and irrelevant most of the time. Now that I have finished this bo I struggled through this book. Now that I have finished this book, I can't seem to recall any techniques or any patterns to look for, or anything in general!? This book gave detailed introductions to some of the more theoretical technical analysis. I would say I am neither a skeptic nor am I a diehard Elliottician.
I do, however, believe in the mass psychology aspect of technical trading. I frequently trade patterns such as Triangles, Diagonals, Wedges, Trendline breakouts, Double Bottom breakdowns etc and Fibonacci Retracement for entering and exiting of trades. They are not the Holy Grail of technical trading however, they do sometimes increase the This book gave detailed introductions to some of the more theoretical technical analysis.
They are not the Holy Grail of technical trading however, they do sometimes increase the odds. Perhaps, Hence, this book is a decent introductory book for technical traders.
Very concentrated book about the EW theory. As it was written a while ago , the examples sometimes are hard to read. Nevertheless a must read for someone interested in Elliot Wave theory. I really liked that all rules and guidelines are presented at the end of chapter 2, so I could print them and keep as a reference.
Keep slow pace at reading. Most pages needs to be reread multiple times to re Very concentrated book about the EW theory. Most pages needs to be reread multiple times to really sink in. Apr 01, Terry Grennon rated it really liked it Shelves: favorites.
This book is central to understanding the fundamental Elliot Wave concepts of stock market behavior, which is driven by social mood. Elliot found value in market activity through the analysis of patterns or "waves.
Author, Robert Prechter stunningly delineates Elliott's unique research and simultaneously expands upon the original underlying hypothesis to develop the Elliott wave analysis which led him to start Elli This book is central to understanding the fundamental Elliot Wave concepts of stock market behavior, which is driven by social mood. Author, Robert Prechter stunningly delineates Elliott's unique research and simultaneously expands upon the original underlying hypothesis to develop the Elliott wave analysis which led him to start Elliott Wave International, the premier technical analysis firm which publishes The Elliott Wave Theorist.
Hedge fund manager billionaire Paul Tudor Jones considers this book as one of the authoritative manuals for trading and asset management. Mar 20, Shaili rated it really liked it Shelves: stk. This is the standard book for understanding and in-depth study of the Elliott Wave Theory. With its more than adequate explanations, comprehensive guidelines, and numerous examples, that's no surprise. This book cleared most, if not all, of my queries and curiosities of Elliott Wave Principle.
And not only that, it provides a clear, structured view of the rules to rigidly follow and guidelines to consider in virtually any possible scenario in wave count.
Elliott Wave Principle - Key to Market Behavior by Frost and Prechter
This Wall Street bestseller is the most useful and comprehensive guide to understanding and applying the Wave Principle. A groundbreaking investment classic, Elliott Wave Principle is hailed by reviewers as the "definitive textbook on the Wave Principle. Or, get this book for free when you subscribe to EWI's most-popular subscription service. Learn more.
Elliott Wave Principle: Key to Market Behavior
A.J. Frost, Robert Prechter - Elliott Wave Principle.pdf