Whats the best fibonacci and Elliott wave TA book?

Discussion in 'Educational Resources' started by Kastro_316, May 20, 2007.

  1. If I wanted to learn both, Fibonacci and EW, what do you suggest I learn first? People say it's better to learn fibonacci first.

    What do you think?

    Thanks again!
    #11     May 21, 2007

  2. recommending a book, does not infer my beliefs on the subject.

    within the subject matter, neely's book is head and shoulders(haha) above the rest.

    #12     May 21, 2007
  3. nkhoi

    nkhoi Moderator

    you have been here since 02 then you should know very few people can make EW works and if they can they are going to have a debate of which wave is on whenever they run into each others. Think about lost opportunity cost :eek:
    #13     May 21, 2007
  4. there's really not much to learn about applying fibonacci to price charts, most charting software will auto set it up for you, if you want to use such things.

    #14     May 21, 2007
  5. Does Vic approve of all this? :D
    #15     May 21, 2007
  6. yes. dump them both. They don't work. Try studying trends, support and resistance. Learn to read price charts. You have a much better chance of succeeding.

    Or, spend a considerable amount of time and money to come to that conclusion

    One example - a study was done with Fib retracements. And the results were they were no more valid than 50% or any other retracement chosen. Elliott is worse. Everyone who examines the chicken entrails and tea leaves comes up with different interpretations.

    You will look long and hard to find anyone who trades with either, who is also independently monitored, and shows ANY evidence of longterm good profitability due to Fib or Elliott

    But this will be assailed by the believers and worshippers who think statistical validity and evidence are unimportant.

    "After all, if Fib #s are in nature, why shouldn't they drive the market??" Stupid, unfounded logic, but it keeps selling books.

    God help us all...
    #16     May 21, 2007

  7. :p :D :p

    it seems clear to me that much if not all of this fib/elliott material would not be able to capture traders imaginations today due to the easy testing ability of the PC. entire markets can be tested,quickly and easily, by the everyday trader, whereas when this material was first marketed, very few, if any, possesed the ability to test anything in significance.

    #17     May 21, 2007
  8. Kastro 316, 'every' library or via inter library loan has a copy of
    ‘Elliott Wave Principle: Key to Market Behavior’ by Frost and Prechter
    as well as other works, the above re-introduced EW theory when it
    was first published in 1979
    Neely's method is very complex and time consuming

    'every' charting program has a fibo tool but you need one that
    permits many user input fibo lines for fibo projections

    besides books there's tons of EW/fibo info online as well many
    charting program sites contain info see for instance:
    #18     May 21, 2007
  9. You are one multi-faceted complex carbohydrate, aren't you?
    #19     May 21, 2007

  10. :D
    #20     May 24, 2007