I want to talk to you about Elliott wave principle in the trading market. Elliott wave is essentially a vehicle. Elliott wave is a wave pattern that drives the market. Some traders think of Elliott wave as just a bunch of chicken scratch all over your chart and they have so much trouble with it because they don’t know what it takes to become an excellent wave counter. I teach my students essentially how to become Elliotticians. Elliotticians are expert wave counters that learn to read the market.

They really learn to read the waves of the market and the patterns of the market, the chart patterns and so forth that show up repetitively over and over and over again all the time in the market. The challenging part is that they don’t repeat themselves in the exact formation every time. There are probably millions of different potential formations for these very similar patterns to unfold in. Becoming an Elliottician is quite frankly one of the most important things in my opinion that a person could ever do to become a successful trader.

When you become an Elliotticians you learn to read the vehicle in the market. See the examples below. And I call Elliott wave the vehicle of the market because everything you see on your charts are Elliott Wave patterns. Chart patterns, trend lines, wave patterns, its all Elliott Wave. When you learn to understand the inner workings of that vehicle you’ll find yourself in the driver’s seat driving from one destination to another in the market place. The vehicle is Elliott Wave. If you learn it you’ll probably be able to increase your ability to forecast trades and pick trades with probably a 70% to a 90% greater accuracy rate. Now if that isn’t good I don’t know what is. It’s not all there is to trading but certainly a significant part of it in my estimation.

So many people simply brush over the study of Elliott Wave Principle when learning Forex trading. I need to tell you that it is one of the most important and fundamental things you can learn. So many Forex trading strategies utilize recognition of the wave patterns from this principle. I use it in my carry trading, in my Ready Aim Fire strategy, my Bulls eye strategy, and especially in my BBREW strategy. I would not be successful today if I had glanced over this most important principle. After taking the time to learn it, it has become second nature. I cannot comprehend being a Forex trader, and not knowing the Elliott Wave Principle.

My suggestion to you is to take the time to learn it. Don’t be lazy, or think that the market will be kind to you when you don’t take the time to learn about it.