R.N. Elliott's Masterworks: The Definitive Collection

very good book, it has the begining of the wave principle, a must have book for graphical analysis

If you can get past the truly horrible jacket design for this book which is bright yellow and looks like it took about 10 minutes to put together, you will find a very informative insight into the life of R.N. Elliott and the genesis and evolution of his Wave Principle. The books starts with a brief but worthwhile biography of Elliott which covers his business career as a consultant (who mainly charged out of additional profits generated - how's that for confidence!) and describes exactly how his Wave Principle came about. Although this section does not really tell you anything useful (or new) about the usage and application of the Wave Principle per se, it does give additional supporting 'evidence' for the meticulous and analytical nature of Elliott himself that builds confidence that his methods are at least worthy of investigation. The middle section of the book is Elliott's Wave Principle as first outlined by the man himself with useful comments and (rare) corrections (where necessary) by Prechter. Even though Elliott's main work has been later extended and refined by others, it is still informative to see the 'definitive' version direct from the source along with practical application. The remainder of the book presents articles and essays written by Elliott and gives some background about the underlying fundamental laws of nature and the universe that support the Wave Principle. This section includes many useful perspectives and ideas and is good fuel for further study. I think Elliott himself would have been pleased with the completeness and thoroughness of this book with the only main caveat being the amateurish jacket design.

Elliott's Masterworks is an excellent resource for those interested in Elliott Wave, R.N. Elliott himself, and how his knowledge and understanding of this principle progressed and came into being. But if you are interested in learning the Wave Principle itself and do not care much about history and the larger scheme of things, then just read the blue book entitled "Elliott Wave Principle" - it is much more up to date and refined than Elliott's original masterworks. Why? Because by the time Elliott had figured most of the principle out and was in the process of refining it, he was very old and eventually died before really completing it all. Robert Prechter and his team of guys picked up on it later on and "finished" the principle, if you will.But the biggest problem is...most people just don't "get it"... Elliott Wave and Elliott's findings are SO MUCH MORE than the financial markets. The fundamental discoveries that govern the Wave Principle and thus the behavior of the financial markets are the very same fundamental forces at work throughout the entire universe! Who cares about making a few bucks in the stupid stock market when, if you have a deep understanding of the Wave Principle, Socionomics, and science in general, you can begin to see how everything around us all ties together to form this awesome grand scheme of life and existance. A deep understanding of Elliott Wave and Fibonacci is the key to opening a whole new world of knowledge, application, and the birth of a new science!

Elliott wave theory is touted and sold in the investment industry as the way to be the markets. You can't go anywhere without someone wanting to sell you this idea. That's why, for once it is great to see a book that is solely written by the man that discovered it. The use of 1930's charts is a positive and a negative. I would have like to seen more modern charts instead of just case studies.After being an investor, broker and investment author for the past eleven years I am definitely happy with this book.

The charts shown in this book are from Elliot's time, namely the depression [ie. the 1930's]. You might think that they have no bearing to today's markets. However, one of the biggest problems with market timing is forecasting a bear market trend; especially a short one. That was my biggest problem with applications involving market behavior analyzed as Elliot waves. This book helps solve that problem by helping the technician analyze long bear market trends where wave counting is extremely critical. The book helped my timing immensely, so that I don't get caught in false bottoms anymore and can recognize the top of markets, especially with respect to stock trading volume. The writer is at his best when relating to the market and analyzing trends. There is a long biography included in this volume, which I found tedious and boring. His analysis does have some contradictions, however, the charts he presents should help anyone with a high school education and good visual skills become a better trader.