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40 of 42 people found the following review helpful:
5.0 out of 5 stars
Best Work Available on Elliott Wave & Gann Approaches, October 14, 2000
This review is from: Dynamic Trading: Dynamic Concepts In Time, Price and Pattern Analysis With Practical Strategies For Traders and Investors (Hardcover)
Dynamic Trading is perhaps the best work available on the use of Elliott Wave and Gann approaches. Not only are the layout and examples clear and easy to follow, but their real-world application is extensively covered. Robert Miner has produced a seminal work in the practical use of Elliott Wave -- no easy task. Miner clears the decks early by acknowledging that Elliott's "wave counts" work about 50% of the time. Thus, he does not resort to vague, exceptional wave counts and other fudging factors in an attempt to justify the Master's infallibility. As a professional trader of almost 20 years, I attempted in the past to apply Elliott wave to daily and intraday trading and failed. I discounted Elliott principally due to the presentation by Elliot academicians. I get the sense that most authors attempting to explain Elliott and Gann are theorists only and either do not want you to be able to trade using their interpretations or, in fact, are not traders. Miner has clearly been in the trenches, and his book makes the approach accessible. Though Miner takes a less restricted approach to the interpretation of wave counts, his results are no less impressive. The author is very restrained in touting his software that accomplishes what is explained in depth in the book. However, all formulae (to my knowledge) are revealed and are adaptable to an Excel spreadsheet, which is what I have done. Wave counts, Fibonacci retracements, time measures, trading strategies, an abundance of practical examples, and much more is covered. The Wave Structures Check lists, Summaries of the Most Important Price Projections, Ratios by Wave, and Worksheets are invaluable and alone are worth the price of this book. If you trade or plan to, you should buy and study this book.
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35 of 38 people found the following review helpful:
5.0 out of 5 stars
Excellent and thorough., December 14, 2000
This review is from: Dynamic Trading: Dynamic Concepts In Time, Price and Pattern Analysis With Practical Strategies For Traders and Investors (Hardcover)
This is a huge binder-sized book, packed with so much information it's a bit daunting at first. But it's worth the work, as it is one of the best books around for people who want to learn the art and science of trading in a disciplined fashion. Miner focuses his teachings on ideas developed by Gann and Elliot having to do with dynamic ratios and patterns in financial markets. Thus there is a lot here about Elliot wave analysis and Fibonacci ratios. However, he tempers these academic theories with a heavy dose of common sense practicality, which makes them much more usable for traders. The book begins with chapters on analyzing chart patterns using Elliot wave principles, dynamic price analysis, and dynamic time analysis. The remaining chapters focus on how to use this information in everyday trading. In reading these final chapters I realized areas in my own trading that could use improvement-compared to Miner's rigorous method, mine has been a bit sloppy. Robert Miner is not only an expert in his field, he is also obviously an experienced teacher who knows how to present information in the proper steps for maximum learning. He has a very interesting mind-he's one of those rare people who has a metaphysician's visionary propensities coupled with a very down-to-earth common sense and dry wit. Thus the book, though at times difficult, is never dry or pedestrian.
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14 of 15 people found the following review helpful:
5.0 out of 5 stars
A truly must read for serious students, April 11, 2004
Robert focuses his books on the three critical aspects a trader has to consider: time, price and pattern and for each of them, the book provides PRACTICAL, sound techniques that once mastered can truly give your trading habits a quantum leap. The pattern section focuses on practical application of Elliott wave theory, here not meant to describe evey market condition, but just to understand if a market is trending or counter-trending. This is in my opinion a great achievement, having read numerous non-sense books on Elliott. The sections on price and time describe techniques on how to forecast in advance price and time clusters where change in trend are highly probable. Synthetically, the reader is equipped with a good arsenal of techniques that will allow him to combine the pattern (trend/counter-trend analysis) with time and price projections in order to forecast high-probability set-ups on the markets. The book provides also a good section on how to build trading strategies, plan and rules and this has helped me a lot to finally put some order into my trading. A number of extremely useful entry and stop-loss techniques are also provided. Robert Miner IS A TRADER, not sort of guru who talks about markets without having risked a penny on a stock and that adds tremendous value to the practical application of his ideas. I strongly suggest not only to read but to study this book.
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