Every investor should have a bookkeeper or accountant to
keep their books straight. If you’re really lucky, you might
even find an accountant like Ralph Nelson Elliott — an
unassuming number cruncher who really outdid himself by
developing the Elliott Wave Theory.
What is the Elliott Wave Theory? Well, it deals with two
seemingly unrelated concepts: Mass psychology and fractals.
Fractals, if you’re not aware, are a mathematical concept:
structures, normally found in nature, that infinitely repeat
themselves on smaller and smaller scales. Elliott found
these patterns were evident in stocks, and subsequent
technical analysts have found them in all financial markets.
Think this is all a lot to take in? We take Elliott Wave
Theory and break it down in the simplest possible terms.
In this episode, you’ll learn:
-The basics of Elliott Wave Theory distilled down to five
-How stocks and other investments work predictably in “5-3”
-Why Elliott Wave Theory is great for day traders.
-The different time scales at which Elliott Waves can be