WRITTEN BY NICOLA DELIC
Why I Wrote Elliott Wave Black Book?
Elliott Wave Theory is the only thing that helped me to become a profitable trader; after almost 100 years, Elliott Wave is still used in every bank, hedge fund, or better to say in every trading institution.
There are plenty of guides on this subject available online, but most people behind those books or courses have never used Elliott Wave in their trading, or have just a basic idea how that works. So I’ve decided to write Elliott Wave Black Book to help my clients learn the entire strategy from the beginning to end, without leaving anything out of the middle — I want to share every important detail that will help you to apply my preferred strategy the right way.
Who Will Find This Guide Useful?
After spending so much time attempting to make Elliott Wave Black Book understandable to everyone, I still suggest that you know the basics of how the market works and have some idea of how to do simple technical analysis before you start reading.
If you never learned about Elliott Wave Theory, this guide will give you all the important information to keep you on the right track; on the other hand, even if you already know how to apply Elliott Wave on your charts, this will be really helpful to refresh your knowledge and pick up a few tricks.
Best Way To Read Elliott Wave Black Book?
Elliott Wave is not that complex, as a lot of people think, but we have a lot of rules and patterns to learn and remember, so it’s really important to start from the beginning and practice a little bit after each chapter.
Try to read one chapter per day — this way you will finish reading in one week and have a bigger advantage compared to the idea of reading everything at once and practicing after that. No one will rush you; my goal is to teach you, not force you to make mistakes, so take as much time as you need until you are sure that you understand each chapter before moving to the next one.
The first chapter will give you a basic idea of what Elliott Wave Theory is. Who discovered patterns? How does the market work? So, definitely start reading from the beginning.
The second chapter will start to explain 4 patterns that you can see inside a larger trend, all rules that you need to follow and details on what you need to pay attention to. After you finish chapter one, you can be sure that you will always know when the larger trend is going to be over and what to expect next.
The third chapter will give you a new set of patterns that you will find when the market is doing a pullback. This group of patterns has slightly more rules and they will be big help later when you want to find entry points, so try to remember all the rules as fast as possible; that way you can more easily pick up when a trend will continue.
The fourth chapter will give you the full idea of how to combine Fibonacci numbers with Elliott Wave patterns. After this chapter, you will know exactly when a larger trend is going to end or when to enter a trade.
The fifth chapter is all about tips on how to make your wave counts and setups more accurate, how to be sure that you are on the right path, how to know when you are wrong, and how to separate good from bad markets. After this chapter, you can start working hard getting the most profits from my favorite strategy.
The sixth chapter is designed to give you a basic idea of how to place your orders using our strategy, what the best waves to trade are, where to put stop loss, and where to put targets. It’s important that you understand the previous three chapters before you jump here.