Customer Reviews

Five Waves to Financial Freedom: Learn Elliott Wave Analysis

5 star:		(53)
4 star:		(6)
3 star:		(2)
2 star:		(1)
1 star:		(0)

 

 

This book not only provides a instruction on how to apply Elliott Wave rules, but also provides the extra step of giving guidance on how you might employ a trading strategy based on wave counts and projections. Many examples throughout the book are presented from the standpoint of a trader providing comments on suggested entry points, profit targets, and stop loss points. Throughout the book there is an emphasis on the predictive qualities of the wave principle and includes added insights based on his personal experience. I have read a number of books on the subject including the classics by Prechter and Neely and feel this is much more accessible to beginners and explanations are more down to earth than the highly academic feel of the classic Elliott Wave books. That said, he covers all the bases of the rules and various Elliott patterns, this is not Elliott Wave "lite". The examples in this book are also very contemporary, some of the patterns are still playing out as I write this review, which makes it a bit more interesting since I have lived through some of these markets. Great book, and highly suggest purchasing this.

Ramki's practical and simplistic explanation of the elliot wave has given traders and investors like me the confidence to use this technique in practice and benefit from it.It has helped me a lot, and it has made many of us realise that elliot wave is not that complicated at all and no professional analyst subsciption is required to benefit from the elliot wave.Basic understanding and application that i received from this book has aided me in the decision making process that i use for my trades and investments.There are no short cuts to making money in markets so whatever benefits that one can gain from ramki's special book, one should avail it.

I have been studying and applying Elliott Wave to my trading for 10 years. In that time I have read and re-read all of Charles Dow's, Robert Rhea's, George Schaeffer's, RN Elliott's, Hamilton Bolton's and a lot of Mr Prechter's and some of Richard Russell's publications. So you could say I am pretty well read on the theory.

I have also read a lot of other people books who have attempted to translate theory into practice 9and some who have tried to re-write the theory), but Ramki's book (and website) are by far the best I have come across when it comes to illustrating how to put the theory into practice. Do yourself a favour and get a copy and read it. Then read it again. Then apply it.

As a practising Elliottician and someone who always is on the continual lookout for breakthrough work in Elliott waves, I can say Ramki's work is truly outstanding. What differentiates a good from a great EW analyst, in my opinion, are two things - the relentless pursuit of excellence and the acknowledgement, that he/she is not infallible because the market is the only master. If Elliott's masterworks and Frost/Prechter's Elliott wave principle were defining works in keeping the principle alive, Ramki's work gives students and practioners of the theory even greater incentive to keep our flag waving. Well done sir, and I can't wait to download the book. Good luck.

I have read a books both by Robert Prechter and Glen Neely, and have taken services offered by both. I can only say one thing what Ramki has explained in his book comes out like just plain English understandable by a common man. Moreover, he is more practical and correct than any one else preaching Elliot Wave.

All I can say, he is simply one of the best in this field and his book a bible for a common trader interested in learning Elliott Wave.

Thanks Ramki for writing it.

First let me say that the book is awesome. I will come back to that point.

I have not read the other Elliott Wave books, but I have read many reviews to try and determine which one I would read next. If you do the same you will find they sound boring or they are made too complicated, more so than they need to be. I decided I have the best Elliott Wave book already.

Now I know this seems narrow minded. However I did not come to this conclusion blindly. Amazon reviewers are often very detailed and usually they are spot on. I base most of my purchases from the reviews I read. I did the same here. I looked over a lot of other books and they sounded decent but not perfect.

On to this book. I loved it. I is laid out simply and he is right when he said all the extra fluff was left out. He gets right into the patterns. It is so nice because he says this always will do this, or this will always do that. He points out clearly what to expect out of the first wave and then the second and so on. It is more than that though. He says if the one wave is longer than other, expect price to go this far. It is chalked full of rules to follow that are clear and easy to understand. I have no problem understanding how to follow the patterns based on his practices. Again though, no fluff. He lays out the rules and what happens if the patterns start early or ends late, or everything in between.

Keep in mind this method is highly subjective like someone else wrote on Amazon. Reading this book or any other EW book will not give you hidden powers to see it perfectly. That is a huge lesson I took from it. You will have to work your tail off to teach yourself how to recognize when these highly predictable patterns start and end. That should be no surprise to current traders though.

Lastly, he also give excellent tips on how to take this new knowledge and make money with it. He didn't just say here is the wave theory now go play. He specifically says there is one thing that happens at the end of a wave. Take it and apply this one occurrence and you can make tons of money because it is so highly predictable. I would tell you what he said but you should buy the book. It wouldn't be fair. Hint: it is towards the end but well worth it. Good luck friends!

I've bought dozens of e-books from Amazon and this is my first review I've ever done. I held off from rating this book until I re-read it a few times, due to the complexity of the content. I can only give this book 3 stars. While I credit the author with being brilliant and doing a great job of explaining EWP and using it with Fibonacci ratios (I have a fairly good grasp of EWP now but still need to re-read it multiple times), the goal of the book is to not only teach EWP, but also show how you can actually implement it in your training. That is where I feel this book fell far short of.

One problem is with most of his Charts. He'll show Point 0 and Point 1, but won't label what their prices were. He'll then show wave 2 retracing say 50% and give the wave 2 value. But there's no way for me to confirm the retracement since I don't know the length of wave 1. The same holds true when he shows wave 3 = 161.8% of wave 1, for example. Really? How am I to validate that? And how am I to know that Wave 5 was 161.8% of waves 1 and 3 combined?????

Another problem with is charts is what he'll often show as Wave 3, I can see waves 3, 4 and 5. And in some of his corrections with "a", "b" and "c" waves, I can see all 3 waves in what he labels as just wave "a". It's almost like his charts are subjective and he makes up where he wants some waves to be. He never goes into detail about why he chooses a one specific point when there are other parts of the wave that could also be interpreted was the end or start of some wave. I want to know why what I see as Point 3 and the Point 4 retracement are actually just part of wave 3.

As for actually implementing EWP in my trading, again I feel he does not do enough. He has some charts with Waves 1,2,3,4,5, waves "a", "b", "c", waves "I", "II", "III", "IV", waves "(a), "(b)", (c)", etc. He then gives a brief summary of some of those waves, but not all, which leaves me scatching my head. That just is not good enough. I wanted detailed analysis of every single wave.

And on his charts and videos he uses some cool drag and drop tool that shows the Fibonacci ratio's at all different points within a wave. Yet there is not a single reference made (at least not that I see) to what that tool is, where he got it, and whether it is available for download. Nor does he mention any other tools that can be used. I don't even see anything on his website. I tried creating some excel spreadsheets to compute this, but it's nearly impossible due all the permutations there can be with the waves within waves and all the corrections. So I just don't see how I can implement this in my own trading.

With that being said, this is still an excellent book if you want to understand EWP and their use with Fibonacci ratios. I knew nothing about EWP before I read it and I did learn a lot from this book. The author does a pretty good job of explaining a lot of principles. And for $9.99 for my kindle, it's a great price. He just doesn't go into far enough detail for me, and I just don't see how I can implement EWP without a chart tool like he has. I wanted and needed more from the author.

I am new to Elliot wave and was looking for something that I can use to actually understand Elliot wave as after reading the first few pages of Robert precters book I was so confused that I gave up and did not have any motivation to try again. I found this book and within a week after downloading it I read it completely and actually understood it. I was so impressed by the simple and easy explanations that Mr Ramki has used that I then tried to actually apply it to charts and was for the first time able to count the waves. Also it's nice to have an open acces to Mr Ramkis website where he analyses the stocks using the elliotwave counts and fibonacci as described in the book and helps to actually relate to what you are reading in real time to the stocks that are currently in a particular wave. I cannot give anything less than 5stars for this book.

Great book! Breaks down Elliot Wave into easy to understand parts. I've read Prechter which left me with a few questions. This book has answered those questions.

Been a trader for 20 years and have been a keen follower of Ramki's works all these years. I owe a large part of my trading success to Ramki's tips in realtime. And this book is the ultimate gift he has given to many traders like me. It is like the medical practitioner's handbook - one could always refer to a chapter in the book to clear the doubts one gets in real life while trading. Great job Ram.