23 Feb Elliott Wave International Review
The company itself proves to be a broad-based financial services firm which focuses and concentrates on both technical analysis in general and Elliott Wave analysis in particular. They do this across a wide range of financial markets which range from the United States to Europe to Asia Pacific and through asset classes and markets including stocks, precious metals, energy, currencies, and interest rates. They firm also provides subscription services and educational sections of their website which include analyses concentrating on every important geographic region of the world.
In this comprehensive review of the Elliott Wave International company, we will consider and ultimately evaluate their educational offerings including video lectures and courses, their investor and pro subscription services, their partial services offered, and their wide range of other educational and instructional products and services which cover everything from books, e-books, coaching, and certification opportunities.
Who Is The Mind Behind Elliott Wave International?
The founder, mastermind, and even genius behind Elliott Wave International turns out to be none other than original Elliott Wave Theory founder Ralph Nelson Elliott’s most important disciple and successful protegee Robert “Bob” Prechter. Prechter shook up the Elliott Wave and technical analysis universes in 1979 when he lead co-authored the instant classic and Bible on the subject of the wave idea, Elliott Wave Principle: Key to Market Behavior.
This lasting legacy book in the field has been referred to affectionately as the “Blue Book” of the Elliott Wave Theory. In this work, Prechter and associate A.J. Frost took the still-incomplete Ralph Nelson Elliott theory and fleshed it out with not only a fuller explanation, but also with an enormous amount of more relevant statistics and current data than Elliott’s original books shared.
Reviewers of the work done by Prechter and Frost have consistently affirmed it as an intensely more elegant and refined version of the Elliott Wave Theory than that which Ralph Elliott articulated in his original definitive works on the subject of waves and how they affect everything from trading the markets to human behavior and even nature.
Besides having penned a number of books on stock markets and other types of financial markets over the years, Robert Prechter has also long-time edited two different monthly publications.
These newsletters on forecasting various markets include The Elliott Wave Theorist and Global Market Perspective. According to The Hulbert Rating Service, Prechter’s Elliott Wave Theorist outperformed the Wilshire 5000 index over a 13.5 year comparison period which ended on December 31st of 1993 all the while his portfolio only endured risk exposure to the markets for half the time period in question. Prechter’s EWT has also received Hard Money Digest’s “Award of Excellence” not once but twice, and has been named the Timer Digest “Timer of the Year.” His newsletter was the only such one to receive this distinction twice.
Mr. Prechter also made the all time record in the “United States Trading Championships” for the competition when he managed to realize more than 444 percent returns during the professionally overseen, real-money options account trading competition over a four month period. In December 1989, he earned the title “Guru of the Decade” from the Financial News Network. From 1990 to 1991, Robert Prechter also held the post of President of the Market Technicians Association for the twenty-first year in a row.
To call the man genius and legendary is hardly going overboard. His real forte has been exemplified in the sensible way that he has continued to refine and define the body of knowledge and market-based experiences of the Elliott Wave Theory with later updated editions of his original classic book over the years. He and Frost released a Twentieth Anniversary Edition of their Elliott Wave Principle with significantly improved text and updated market data and charts. It is often referred to as the ultimate revision of the legendary and timeless classic on the subject of Elliott Waves.
Elliott Wave International’s Educational DVDs and Offerings
Elliott Wave International prides itself on education for traders of all kinds. Besides their usual DVDs and extensive educational section on the tenets and application of the Elliott Wave Theory, Robert Prechter and company have begun a brand new educational course entitled “How to Win In Forex with Elliott Waves.”
The Elliott Wave International company focuses on a vast amount of educational materials they offer to their site visitors and company clients alike. Not all of it costs you money to benefit from either. Among the free topics on which education is provided on the site are all of the following:
- Social Mood
- U.S. Markets
- Asian Markets
- European Markets
- Interest Rates
On each of these topics Prechter and company offer you a generous assortment of proprietary articles and videos you can read and watch at no cost to better educate yourself on the wide selection of important investing topics. I found this free educational section of the website to be a gem among the many good nuggets here.
Educational DVDs Series
The Elliott Wave International educational DVD series has been created by internationally known commodity analyst Jeffrey Kennedy. It delivers a number of helpful lessons and even invaluable training sessions on such important and timely topics as:
- How to precisely time your entries
- When you should allow your winners to run
- How to maximize your profits or reduce losses on your exits
- When you should lock in your gains
- When to seek out a re-entry
As you review these insightful DVD’s, you’ll see and understand the following:
- How you can discern which will be the most likely to move markets. Jeffrey reveals his proprietary four different ideal trade set ups and walks you through each of them with great detail
- Real and live examples of the Elliott wave patterns and the ways that Jeffrey realizes when it is time to enter a trade
- How you can best time your entry points precisely to avoid nerves and lack of clarity on trades
- How you can manage your risk effectively using protective stop orders so that you will understand exactly when your own interpretation of the Elliott Waves is inaccurate, when is the time to exit the trade, and what the difference is between these two concepts
- How you can recognize counter trends which exist within the main trend. This is critical for traders like you who need the confidence to enter or re-enter trades on pullbacks
This series is certainly worth the while for anyone who is determined to learn more about the way to apply the Elliott Wave principle and theory to your own trading strategies. It does not matter if you are personally trading the gold markets, S&P 500, forex, or any other type of market. These educational videos which the company delivers can and will instruct you in some critical methodologies which will ensure you grow into a better trader.
Immersive Course for FX Trading and Traders – “How To Win In Forex With Elliott Waves”
A new product offering from the Elliott Wave International group is this immersive courts for FX trading appropriately entitled, “How to Win in Forex with Elliott Waves.” The course is advertised on their website as a new exciting training class for those traders who are prepared to take on the markets and win using Elliott waves. They have three of the world’s most renowned Elliott wave experts leading it over periods which are 4 weeks long.
These three instructors have a combined eighty years of direct involvement in the markets shared between them, so it promises to be an experience-driven and insightful program. Having taught literally thousands of different traders around the world their personal strategies, they are offering them to you now (for a price). Here are the expert teachers and their personal trading strategies in their own words:
“I take a cautious approach. I try to identify the dominant trend and then analyze price patterns at lower degree to join that trend. To manage risk, I look for quality over quantity.”
Find out more about Jim Martens and his background on the Elliott Wave International website.
“I like to get in early, keep my risk small, and manage the winners.”
Find out more about Michael Madden and his background on the Elliott Wave International website.
“I’m a trend trader. My focus is on buying corrective pullbacks in an up-trending market and selling corrective bounces in a down-trending market.”
- First Session – Unlocking the material
- Live Session – Covers questions of students, trading strategies, and homework review
- Every Session – Includes a live preview/review of the best forex trade setups for the week
I like that the classes are all being recorded and made available on demand for those of you who have busy schedules and need flexibility. The four sessions of the course are as follows:
Session 1: Best Tools for Trading Success
Principal Instructor: Jeffrey Kennedy
Shows you how to put Jeffrey’s favorite techniques and tools into practice so that you can win with forex trading like he has for the last 20 years.
Session 2: Five Ways to Boost Your Trading Plan with Elliott Waves
Principal Instructor: Michael Madden
Teaches you the means of locating opportunities by yourself and helps you to craft your own personal trading plan.
Session 3: How to Master Elliott Waves and Succeed in FX
Principal Instructor: Jim Martens
Seeks to eliminate the all too common misrepresentations of the forex markets and to replace them with the Elliott Wave ideas that you need to be more successful in forex trading.
Session 4: How to Time Your Trades Using Elliott Waves
Principal Instructor: Jim Martens
Teaches you the point to get in, the ways to modify your stop levels, and the best exit point so that you capture the maximum gains for every trade.
The price of this course which Elliott Wave International advertises as the “most valuable anywhere in learning how to win in Forex with Elliott waves” is $2,499 normally. There is a promotional price at time of publication of this page running for $1,999. This is a steep price, but it is also a great amount of financial and technical analysis education from three well-known people in the industry, and it includes physical print materials as well.
Elliott Wave International’s International Subscription Packages
Elliott Wave International offers its so-called core products under the label of the “Essentials.” These are in fact a bundle of subscription packages which include financial prognoses offered over particular frequencies. In other words, you are receiving short term bits of information delivered to you three different times in a week, as well as once a month medium timeframe forecasts, and insights on a macro-economic point of view from the EWI president Robert Prechter.
With each service, you receive a particular focus. They offer a basic level of service at $59 per month which concentrates its efforts on the United States’ markets. They similarly provide a European-focused product and an Asian-Pacific-focused product. The maximum package deal is called the global product that includes all three services— American, European, and Asian-Pacific concentrations. These various packages start at $69 and run as high as $89 each month for the global package deal.
I can say without reservation that the advice this company delivers is worthwhile and proven based on the many years and great success this firm has continued to enjoy with a range of global clients. Whether or not the fees are too high for you as a trader comes down to how seriously you will trade. If you will trade a great deal and plan to make a large amount of money every month, then these fees are more than reasonable.
Elliott Wave International’s Partial Service Subscription Packages
One fairly unique idea of the site which the company encourages is called Partial Service subscriptions. I love the idea that EWI will allow you to take only a portion of one of the big services which is most relevant to you and obtain this for a discounted price.
Since most traders do not really trade across multiple markets, this gives you an advantage for a more affordable monthly service fee. Using this concept, you are able to select the information which is most relevant for your particular strategy in trading. This gives you greater control and personalization as well as more value for your money.
Elliott Wave International’s Other Products and Services Offered
Besides the training course, free educational material, and key subscription-based services, Elliott Wave International has several different other kinds of useful and interesting products and services they will provide to you for a price, which varies widely depending on which service or product you are considering. Some of the more interesting and current ones are listed below:
Prechter and company have over a dozen different instructional videos they offer for sale on their site. Many of them seem like they would be relevant to trading, while others are more generally informational in nature. Several of the ones more relevant for trading strategies are:
The Socionomic Theory of Finance: An Alternative to EMH and a Foundation for Technical Analysis
by Robert Prechter
Understanding the Extraordinary Value of the Elliott Wave Model: Lessons in Real-Time Application
by Robert Prechter
Trading The Elliott Waves – Winning Strategies For Timing Entry & Exit Moves
by Robert Prechter
Besides these interesting and informative videos (which are insightful but definitely not bedtime viewing material), Elliott Wave International offers another more than dozen video products via physical DVD format.
Robert Prechter is a widely-known and -respected author whose books run the gamut from economics to sociological behaviors of groups and individuals. Several of the newer and better known ones include his latest The Socionomic Theory of Finance, Conquer the Crash 2014, the acclaimed “Blue Book” of Elliott Wave theory The Elliott Wave Principle, and Prechter’s Perspective: Conversations with Bob Prechter, Legendary Market Theorist. These are pictured below:
Elliott Wave Certification Program
The firm also has been pushing its proprietary Elliott Wave certification program. They say this is a useful form of standardized certification for analysts, financial pros, and traders who want to have their ability with the Elliott Wave measured. This CEWA program provides participants with the ability to attain the level of “Certified Elliott Wave Analyst.” The idea is that it will help you to open more doors in the universe of technical analysis.
If you are able to successfully pass the Level one and Level two exams, you obtain this designation as a CEWA. They also offer a CEWA-M (or Master) for those who can attain a score of at least 90 percent on the exams. These students are allowed to teach EWI-licensed courses once they obtain this level.
Elliott Wave International Pro and Flash Services
The final products worth mentioning offered by the company and site are the International Pro and Flash services. The Pro services turn out to be very similar to those Essentials the company is most heavily promoting. They drill down further to give you a greater amount of depth for your money. Flash services allows you to select one out of the five categories within the general topics of stocks, futures, and ETFs.
They provide you with instantaneous buy or sell order alerts as their proprietary software gives a signal one way or the other. The first such elected service costs you $199 per month. The advantage is that they lower the price per service on each subsequent one you pick up. It still gets expensive pretty fast.
Elliott Wave International Final Verdict
For anyone who is serious about developing an Elliott Wave analysis component in your particular trading strategy, you should definitely consider the various professional and worthwhile educational materials, services, and products the Elliott Wave International company offers you. If you are already utilizing the wave analysis, then some of their products will help you more than others which are designed for novices or beginners.
Without a doubt, this is the go-to company for these types of Elliott Wave analyses and services. They are hands down the biggest outfit concentrating their efforts on Elliott Waves and analysis of the markets using it. This means that besides getting the experience and insights from legendary Elliott Wave studies developer Robert Prechter, you are also obtaining the advice and help from a large number of professional staff members with decades of combined experience in the markets.
For superior value from the company, I recommend the various educational tools as well as the Partial Services. No one in the Elliott Wave universe can compete with Bob Prechter and company for coaching, courses and training materials, and an overwhelming abundance of helpful books, videos, and on demand instructional series. Prechter practically invented the modern-day Elliott Wave theory as we know it after all, even if Ralph Elliott did originally discover and first articulate it.
• They are the largest Elliott Wave outfit in the world by far.
• Legendary Elliottician Robert Prechter is the mind behind and president of the company and website.
• Vast amounts of educational articles and videos are offered for free to site visitors.
• The staff are made up of nationally and world acclaimed traders and researchers with over 80 years of real world trading experience.
• The coaching and educational course offerings are world class and excellent services.
• Books and videos sold on the site are nearly all by Robert Prechter who practically invented the modern-day version of Elliott Wave theory.
• The educational courses are not inexpensive and start around $1,800 and up.
• Monthly service fees for their flash and essential services could be considered a bit high though they provide solid value for money.
There is no more a go-to company for Elliott Wave analyses and products/services than Elliott Wave International. Robert Prechter's company is more than just the largest outfit which bases its technical analyses on the theory which Ralph Elliott originally discovered. It is the one which has Robert Prechter, the legendary figure who transformed the wave theory into the modern-day acclaimed success, as the mind behind all of its many offerings.