How to Identify High Profit Elliott Wave Trades in Real-Time

By admin • Jul 8th, 2008 • Category: Finance

How to Identify High Profit Elliott Wave Trades in Real-Time

How to Identify High Profit Elliott Wave Trades in Real-Time
By Myles Wilson Walker

Publisher: Windsor Books
Number Of Pages: 209
Publication Date: 2001-04-01
ISBN-10 / ASIN: 0930233573
ISBN-13 / EAN: 9780930233570
Binding: Hardcover

This book finally transforms the Elliott Wave Theory into a practical, usable trade selection system. Mr. Walker calls his dynamic new trading approach the C Wave method.

Summary: Best I have read
Rating: 5

I believe it would be fair to say that what a person gets out of a book on trading has a lot to do with their ability to understand and relate to what they read and the degree that the new information gels with what they already consider to be true. Having said that, I am glad that I did not allow so-so reviews of this book to stop me from purchasing it. My interest is in day trading e-mini futures. Other books I have read relating to Elliott wave have only provided minimal general guidance. This is the only book on Elliott wave that I have found invaluable. It took a few readings and some practice but, low and behold, I can now (often) scrutinize a wave and determine if it is an impulse wave or a correction. The beauty of this is that it allows you to know if you are still in a correction or if the trend has resumed. It allows you to know if there has been a 5th wave failure or if some form of correction is still developing. At the end of a 5th wave when the market is spiking up and down I can eventually tell if a new thrust in the direction of the trend is part of the trend and possibly the end of the 5th wave or whether it is just a part of a diagonal triangle. I have a long way to go in mastering it but I can often see the C wave patterns and appreciate what is going on. All in all, the market makes more sense to me now. One reviewer commented that doing this would not be possible on intraday charts. I would have to disagree. Even small C waves can take 30 minutes to hours to develop. Once the market has made enough of a move to recognize the correction you would only need a couple of minutes to figure it out even if you consulted the book. So, in short, I am impressed and consider this the best book on trading I have ever read.

Summary: Worthless
Rating: 1

I found this book to be a waste of money. One just doesn’t know why some pivots have been considered and some not considered at all. In effect: Total Waste

Summary: Fairly Good book
Rating: 4

I have read well over 100 books on trading and I have yet to read one that will teach one how to trade turnkey with a high success rate. Because it does not exist. IMO. I gleaned some useful information out of this book. What this book did for me was not to teach me how to trade profitably, but to make me think in a different direction which was very useful. But isn’t that the best one could expect from any trading book?

Summary: Subjective ?
Rating: 2

I realize that Elliott Wave is considered subjective .. but on half of these wave counts, I couldn’t see where he was coming up with his numbers. In addition, he had numerous 7 wave (?) counts and some of his logic is just plain odd. I consider myself fairly experienced in Elliott Wave, but couldn’t figure this guy out for most of the book. Walker tries to time failures of the C wave and tries to find ends to corrections , but is an aggressive entry method if correct. The problem is, it is extremely difficult to see .. as corrections can materialize into many forms and stop you out over and over until it presents a discernable pattern. One thing I did find unique in this book was his use of finding wave counts within simple patterns of OHLC bars. Seems a bit like overkill, but it is unique nevertheless.

Summary: Best Elliott Wave book
Rating: 5

Myles Walker has written the best book on trading with Elliott
Wave that I have ever read. it was simple elegant and put the icing on the cake for me in terms of correct entry method for Elliott. It really helped me in a practical dollars sense. Apparently He has also done a lot of Gann work and a book on it but I must admit to not owning the Gann book yet.

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