Suggestions Needed - Mastering Elliott Wave

[Trader Terry]

Hi,

If experienced members here have read Mastering Elliott Wave: Presenting the Neely Method by Glenn Neely, I'm seeking advice from you .
https://www.amazon.com/Mastering-Elliott-Wave-Presenting-Forecasting/product-reviews/0930233441/ref=cm_cr_arp_d_paging_btm_next_2?ie=UTF8&reviewer Type=all_reviews&pageNumber=2

This book was suggested to me by a quite successful national US Trading competition champion , whose market predictions on Bitcoin are surreal . I was almost on my way to start studying it immediately , but then found out on internet that Neely himself left Elliott wave now for something called river trading method .

My idea is if he had been really successful trading elliott wave & have mastered it (as book title suggests) , then why leave this school - maybe it doesn't work anymore ? Whereas on the other hand, the other trader has already won a US Trading competition on national level with nothing but elliott wave & from what I've seen so far is very good at market predictions .

Between these two counteracting evidences , I'm not able to make a decision whether to fully study Glenn Neely's elliott wave book . I've skimmed through the book contents briefly & it seemed like a very tough read. Probably have to dedicate next 3-12 months of my life to really absorb it.

Before giving up 3-12 months of my life in a single pursuit , just asking here to experienced members & traders about your thoughts on Glenn Neely book and Elliott Wave Theory in general .

Thanks !

[If anyone needs the book, here's your download link
http://[email protected]/file/wuyjx44tnmiiaff/Glenn_Neely%252C_Eric_Hall_-_Mastering_Elliot_Wave__Presenting_the_Neely_Metho d__The_First_Scientific%252C_Objective_Approach_to _Market_Forecasting_with_the_Elliott_Wave_Theory-Windsor_Books_%25281990.pdf/file

Those of you who are still searching for what works in markets amongst various impractical trading methods , in my experience I've found these four to work - Elliott Wave, Wyckoff , Al Brooks price action, Order Flow . Amongst them, Elliott Wave works phenomenally]

[Trader Terry]

Some update .

I reached out to Glenn Neely's old subscribers of analysis reports . From what I gather so far - Neely is wrong in about 70% of all his market reports , market goes the total opposite way as his Elliott Wave analysis says. Most traders lost money following his analysis . And Neely also lost millions of his clients' money trading for his Elliott Wave fund & his fund is in loss for several years .

I'm glad that I didn't waste my time reading this snake oil salesman's mumbo jumbo book . Those who can't trade, teach others - my belief remains same .

If you want to learn valid Elliott wave analysis , Robert Prechter or Todd Gordon would serve you far better . However , learning elliott wave correctly is a very difficult procedure & a rather subjective one - I believe learning & trading Wyckoff method in spite of it is much easier for anyone & has a much better return on your time investment & higher chance of success .

[wcicom]

I was going to give you a break down on Neely, but I see you already heard . Yes, he took huge loses in his Fund - over 50%. I read his letter about it, so it's not some rumor.

Now as far as Elliott Wave goes, I personally do not use it in trading, it is way too subjective and is impossible to quantify in my opinion. With that said, the link below is to the blog of the the best Elliott Wave guy I ever came across. If there is such a thing as using Elliott Wave correctly for trading - his blog is as good and as honest as it gets. Be patient and follow it for a few months before drawing any conclusions .

http://studyofcycles.blogspot.com/

Good Luck,
Simon

[Trader Terry]

I was going to give you a break down on Neely, but I see you already heard . Yes, he took huge loses in his Fund - over 50%. I read his leather about it, so it's not some rumor.

Now as far as Elliott Wave goes, I personally do not use it in trading, it is way too objective and is impossible to quantify in my opinion. With that said, the link below is to the blog of the the best Elliott Wave guy I ever came across. If there is such a thing as using Elliott Wave correctly for trading - his blog is as good and as honest as it gets. Be patient and follow it for a few months before drawing any conclusions .

http://studyofcycles.blogspot.com/

Good Luck,
Simon

Appreciate that wcicom

The good people who lost money in Neely's fundmostly agree that he's just another fraudster. I'll be staying away from his hocus pocus teachings for sure , but will definitely checkout the blog you mentioned above .