Teaching Elliott Wave Theory


I’m teaching a course on Elliott Wave Theory (Principles). Is any person interested?

School of Pipsology has this as one of the subjects. I recommend that newbies read this before deciding whether or not to be interested in a new member’s teaching courses.

Summer School - School of Pipsology - BabyPips.com

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Ooooh. :open_mouth: I think I’ve seen a lot of people interested in learning Elliot Wave Theory. :open_mouth: Just wondering, among all the concepts out there, why Elliot Wave Theory? :thinking:

I follow a young man on Youtube who posts more than a video per day on crypto currency investment and trading (Donavan Jolley), and he makes extensive use of Elliot Wave Theory when analyzing the whole-of-life history of price action of crypto currencies. Whilst I admit I would never use it as an indicator in Forex trading (NNFX method advice), I have been tempted to follow Don’s teachings when it comes to fulfilling my crypto trading strategy (which has advanced far faster than has my new Forex trading plans). Unlike my goals with Forex trading, the crypto goals allow me a great deal of “mistake” bandwidth, which I will explain here.

Don Jolley has a great belief in trading fractals and looks to overlay past performance of currencies that have broken out past their previous all time high (like Bitcoin and Ethereum, but unlike XRP to date), and uses Elliot Wave analysis to show how the 1,2,3,4,5 wave points have developed in those that have gone past ATH, and overlays that on those currencies that have not yet done so. Combined with other indicators, there is evidence of other currencies exhibiting the same behaviour patterns (crowd mentality repeating itself?). When combined with other indicators, and when backtested to his four year experience since the 2017 bull run, there is no doubt that he has “100X’d” his portfolio in five years.

So I actually created a plan called the “Sh__coin” trading plan, that will use up to 20% of our crypto portfolio assets during the next year (starting 1Apr21), It basically consists of identifying those currencies that have not yet exceeded their historical ATH, assessing other indicators (not yet bolted down) and choosing up to 10 currencies with these characteristics with the plan that 8 of them can go to zero, if the other 2 of them do a 10X. I have one coin in place to date having spent only 1.5% of the fund allocated to this “sh**coin bank”, and will now leave them in place until they quadruple or go to zero. At double, I sell half and leave the rest to accumulate, sort of like resetting a Forex stop loss to zero and leaving the rest of the trade to run with trailing stop loss). Interestingly, the reason that trade cost only 1.5% of allocated funds instead of 10% is because I already sold half of them at 2X gain and quickly rebought a few days later below my target accumulation price. I call that a trade with a two year time horizon. I have an 80% expectation that they will go to zero, but their ATH was 500 times my entry price. A long term profit target is a reasonable 100 times entry price. I haven’t yet decided whether this is a decent trade or a crazy gamble but for 1.5% of 20% of 3% of wealth (one hundredth of 1%), I don’t really care either way. This has not been dreamed up without back testing, but I have used “vicarious backtesting” by reading a series of articles from someone how had done this up to and during the 2017 boom and had held his stake throughout the long and severe downturn into 2018 through till the 2020 bull run. Of twenty currencies (sh__coins) he had committed to, 26% of them had shown substantial growth and 74% of them had declined to almost zero (or zero). But his overall 5 year return was around 500% compounded. That is a good enough backtest for me.

Some may call it an investment, but that is picking nits. For me it’s the first real world application after considering Elliot Wave Theory that I can think I have ever acted upon. In summary, for me, not for Forex, but having read Benoit Mandlebrot’s The Mis-Behaviour of Markets five years ago, I have a great deal of interest in fractal patterns when related to financial markets. He won the Nobel prize for economics for his work on black swan events.

Although there is a lot of theory part involved in Elliott principles, it’s application is very practical when you try to apply it as a technical analysis to your charts.
Of course it’s not something that drives the market but follows a very decent outlook on trader’s psychology.

What are you charging in exchange for the course ?

Please drop any source of communication to get in touch. I can forward some details to you.

Please do not take this the wrong way. It is a red flag to me that somebody comes onto a forum with an offer of a course, then implies that private communication is required, so it seems fishy. So just to be certain I have misinterpreted your good intent, this is the source of communication I am using to get in touch and I wish to know the terms and conditions, the content and the cost of your course. Please share on this forum.

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