I am going to keep this post short, because the key points appear in the one chart that I am sharing with you. Trading and investing is all about timing and making smart decisions. Elliott Waves helps you decide on a low-risk entry point, something that I have discussed in my book, and reinforced with examples in my online program. But the selection of the instrument also plays a role in mitigating one’s risks. If you choose a highly volatile stock, then you should also be extremely disciplined to cut and run at the first sign of trouble. In the example shown below, we had a happy confluence of both the end of a wave 5, and one of the top 30 stocks in India by way of market capitalization. To add flavor to the cream, the dividend yield at our entry point made it a compelling buy. You can see how WaveTimes adds value, whether you are simply happy to learn from these examples, or, if you are an experienced trader of size and a member of the exclusive club of WaveTimes.
The stock that we invested in was Coal India.
The stock made a low of 119.20 on 26 March 2020, and today, 31 March 2020, it has traded at a high of 137.80.
My online program at https://elliottwaves.com gives an insight into how I approach the market using Elliott Waves.
8 Comments
Dear Ramki, I have just completed reading your book
5waves to financial freedom, Lett me know how can I take this knowledge to next level.
I’m from Mumbai.
Regards, Atul
Atul, Congratulations on finishing the book. You could experiment your understanding by paper-trading for a few weeks. At some point, I recommend enrolling in my on-line program that has over 10-hours of videos. These teach you how to actually trade the markets using the knowledge that you have gained. That program, however, is significantly more expensive than the book, but that is because the content is very valuable. Also, there are significant cost incurred in hosting it on the same platform as Netflix, so that your streaming is of the highest quality. But the investment will easily payback in a few trades. But don’t feel compelled to enroll. As I said, you might find some success already with the knowledge you have gained from the book. It is only when you want to take it to the next level that you need the program. Good luck.
pls send me offer i want to learn and earn using elliott waves theory
Narayan, The exclusive club is meant for experienced traders who trade in size. It is not designed for small traders because the fees are relatively high. The best way to learn is to initially paper trade, and then start off in a small way in the real market. Good luck.
hello sir ,
I have completed reading your book 5waves to financial freedom, Please explain the difference between WXY and ABC Correction Pattern. There is no information about wxy pattern in book. please guide.
Bharat, The letters we use to lable waves, such as WXY or ABC is just a way to identify where we are in the progression. The WXY convetion is used by Mr Prechter. I have kept it simple and said the first leg is abc (which together will be W). Remember, these labels don’t exist anywhere except in your mind. By the way, you are posting several questions on the blog. Much as I would love to help, I can’t use the blog to clarify doubts of individual readers as they run into several thousands. I wish you the best of luck in your search for Financial Freedom.
How to estimate that wave-4 on daily chart ? It’s only single candle. I am confused how to number the waves
Jenish, In these circumstances, you might wish to go down to a lower time frame to check it out.