Prechter's Perspective (Paperback)

~ (Author), Peter Kendall (Editor)

Editorial Reviews

Review

This book is drawn from Robert Prechter's media interviews (1977 - 2000), selected excerpts from The Elliott Wave Theorist, The Elliott Wave Financial Forecast and other sources. With a contrary yet common-sense approach to markets and a straight-forward style, Prechter tells us what modern investors go out of their way to ignore: the market is layered with complexity. An added bonus is that much of his commentary on markets, investing and social events is timeless. In displaying the full bounty of the Wave Principle, Bob paints a compelling and highly readable portrait of both the structure and the irony behind the social activities of man.

"In the biggest imaginable picture," says Prechter, "the trend is always up, according to the Wave Principle. Mankind is on an upward path, with corrections along the way as he moves through history." Beyond this heartening message, the Wave Principle's true value is the way in which it accounts for those "corrections along the way." In doing so better than any other tool, it has an accomplished record of forecasting success. Bob has extended this success to forecasting changes in the culture at large, which he covers in the final chapter.

Join me on an enjoyable journey through Prechter's Perspective.

-- Peter Kendall, Editor

--This text refers to the Kindle Edition edition.

Product Description

Prechter's Perspective gives you an inside look at the man named "Guru of the Decade" after winning the U.S. Trading Championship with a record 444.44% profit.

Prechter's Perspective compiles actual trading knowledge from a career that took Bob Prechter three decades to build. You'll get Bob's thoughts on how Fibonacci ratios can help you time the markets and when to use risk-limiting stops. You'll get his tips on ruling out emotional tendencies and using discipline to keep the markets in your favor.

This book gives you lots of detail about the markets over the last 25 years, but it's more than just a history lesson. Bob also teaches you about how the Wave Principle applies to anticipating the legacies of national leaders, trend changes in pop culture and the next big move in the markets (plus the little ones, too).

If you're a newcomer to Elliott Wave or if you're looking for the right resource to give a friend, family member or colleague, this 221-page newly revised edition of Prechter's Perspective is the best overview of the Wave Principle you can get. --This text refers to an alternate Paperback edition.

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Product Details

• Paperback: 267 pages
• Publisher: New Classics Library; 1st edition (May 1996)
• Language: English
• ISBN-10: 0932750400
• ISBN-13: 978-0932750402
• Product Dimensions: 9 x 6 x 0.7 inches
• Shipping Weight: 15.2 ounces
• Average Customer Review: 3.8 out of 5 stars  See all reviews (4 customer reviews)
• Amazon.com Sales Rank: #1,059,847 in Books (See Bestsellers in Books)

Customer Reviews

Most Helpful Customer Reviews

7 of 9 people found the following review helpful:

5.0 out of 5 stars A worthwhile read even if you aren't into Elliott Wave, April 11, 2006

By	Paul M. King "pmkingtrading.com" (Vermont, USA) - See all my reviews (REAL NAME)

This review is from: Prechter's Perspective, 2004 Edition (Paperback)

In this interview-style book published in 2004, Bob presents his own perspectives on subjects as far-ranging as Elliot Wave Principle (obviously) to the way he believes that the 'normal' cause and effect relationships people take for granted in a market environment (and the world in general) are actually inverted.

As well as a detailed and personal discussion of the application of Elliott Wave in the context of the practical uses in actual trading, Bob gives some simple but excellent rules for trading in general. These include:

* Having a method
* Having discipline
* Gaining experience
* Accepting responsibility for your actions
* Accommodating losses
* Accepting huge gains

Although an interview format book is sometimes difficult for some people to extract the true `value' from, it is well worth the effort of studying this book since it can give you some useful insights into things that you may currently take for granted as `truths' that are actually detrimental to your trading performance.

The main novel theme in this book is about Bob's concept of `Socionomics', where social mood and psychology are the result of movements in the markets not the other way round. Believing that the market goes down because people are depressed, for example is a complete reversal of the `conventional wisdom' and thinking about it deeply can lead to some interesting conclusions and beliefs that have a significant practical impact on how one approaches trading.

Discussing specific approaches to trading, and how Bob thinks about them is a useful and informative look into the trading methods of an obviously accomplished and passionate market participant and also gives a context for the application of Elliott Wave Principle. All-in-all it should be considered a very worthwhile read.

1 of 3 people found the following review helpful:

5.0 out of 5 stars Great, just like his other books, March 21, 2006

By	a reader (Alexandria, VA United States) - See all my reviews

This review is from: Prechter's Perspective, 2004 Edition (Paperback)

Just like the previous reviewer pointed out, it is set up like an interview. He answers questions about psychology, fundamentals, society, predictions of the future, and of course using Elliot Wave - particularly trading strategies. I liked the fact that he covered option trading strategies. I respect Precter's viewpoints and philosophy but have never subscribed to his Elliot Wave forecasts because he keeps calling tops too early.

5 of 16 people found the following review helpful:

4.0 out of 5 stars Market Perspective Long Forgotten, July 13, 1999

By A Customer

Robert, uses trends in society. He also uses the "Elliot Wave Principle." It was very interesting.

The book is set-up like a interview. It's easy to read. A introduction about Prechter and his techniques and how he times the market.

I learned of Prechter from a Tony Robbins interview.