Prechters Perspective: Robert Prechter on the Elliott Wave Principle Market Analysis and the Nature of Social Trends

by Robert R. Prechter Jr.

Book Overview

Reveals the full bounty of the Wave Principle.-- Draws from Robert Prechter's media interviews (1977-95), selected excerpts from The Elliott Wave Theorist, and other sources. This description may be from another edition of this product.

• Format: Paperback
• Language: English
• ISBN: 0932750400
• ISBN13: 9780932750402
• Release Date: January 1996
• Publisher: New Classics Library
• Length: 267 Pages
• Weight: 1.04 lbs.
• Dimensions: 0.7" x 6.0" x 9.0"

Customer Reviews

A worthwhile read even if you aren't into Elliott Wave

In this interview-style book published in 2004, Bob presents his own perspectives on subjects as far-ranging as Elliot Wave Principle (obviously) to the way he believes that the 'normal' cause and effect relationships people take for granted in a market environment (and the world in general) are actually inverted. As well as a detailed and personal discussion of the application of Elliott Wave in the context of the practical uses in actual trading, Bob gives some simple but excellent rules for trading in general. These include: * Having a method * Having discipline * Gaining experience * Accepting responsibility for your actions * Accommodating losses * Accepting huge gains Although an interview format book is sometimes difficult for some people to extract the true `value' from, it is well worth the effort of studying this book since it can give you some useful insights into things that you may currently take for granted as `truths' that are actually detrimental to your trading performance. The main novel theme in this book is about Bob's concept of `Socionomics', where social mood and psychology are the result of movements in the markets not the other way round. Believing that the market goes down because people are depressed, for example is a complete reversal of the `conventional wisdom' and thinking about it deeply can lead to some interesting conclusions and beliefs that have a significant practical impact on how one approaches trading. Discussing specific approaches to trading, and how Bob thinks about them is a useful and informative look into the trading methods of an obviously accomplished and passionate market participant and also gives a context for the application of Elliott Wave Principle. All-in-all it should be considered a very worthwhile read.

Great, just like his other books

Just like the previous reviewer pointed out, it is set up like an interview. He answers questions about psychology, fundamentals, society, predictions of the future, and of course using Elliot Wave - particularly trading strategies. I liked the fact that he covered option trading strategies. I respect Precter's viewpoints and philosophy but have never subscribed to his Elliot Wave forecasts because he keeps calling tops too early.

Market Perspective Long Forgotten

Robert, uses trends in society. He also uses the "Elliot Wave Principle." It was very interesting. The book is set-up like a interview. It's easy to read. A introduction about Prechter and his techniques and how he times the market.I learned of Prechter from a Tony Robbins interview.