Type of bind: Paperback
Dewey Decimal Number: 332.6322
EAN num: 9780932750617
ISBN number: 0932750613
Label: New Classics Library
Manufacturer: New Classics Library
Printing Date: September 01, 2004
Publishing house: New Classics Library
Sale Popularity Level: 403810
Studio: New Classics Library
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Editor's Notes and Comments:
Brief Book Summary:
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 subsequent 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.
User popularity level:
Rated by buyers 
-
Prechters view is markets peaked in wave 5 in year 2000.
Never called the bottom in 2002, and stated the
high of year 2000 would not be surpassed.
Well 7 years later the DOW has indeed surpassed the year 2000 high!
High of 2000 was ~12000, yesterday it is nearly ~14000 !
Listening to his advice would cost one dearly.
Not only missing out on the recent market rise, but also constantly
pushing one to take a bearish stance against the market during the
entire rise over the past 5 years!
Rated by buyers 
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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 discusion 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.
Rated by buyers -
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.
Rated by buyers -
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.
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