Elliott Wave International: Short and simple

I am not sure they fully understand that for most people, the purpose of the markets is, quite simply, to make money. An indication they might not share your goal (or any trader/investor’s goal) is they never provide practical guidance for trades.

For them, it seems that the more arcane the analysis the better. That seems their purpose. Not making money. In fact, they apparently are so disinterested in making money, entry and exit and stop points are never (or almost never) mentioned. Entry and exit and stop points require true work, true discipline. For the EWT team, it’s simply a fountain of detailed but useless terms which are meaningless to most people, accompanied by tremendous confidence and an attempt at an academic veneer.

They like the analysis part. They don’t care if you make money. I have observed (many have observed, as well) that the market analysis service Elliott Wave Theorist’ Hochberg’s (and Prechter’s) market analysis has been critically wrong for 30 years. Sure, they at times get a market (or market segment) correct, for a while. When you have just one pervasive view, there will be times when the market trends in that direction. For the EWT service, being correct on a market is far more the exception, not the rule.

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