Elliot Wave International is a financial services company that specializes in technical analysis and Elliot wave analysis for a variety of financial markets. The company delivers subscription services that contain analyses with a focus on each major geographic area for finance, as well as a series of video lectures designed to help you learn about trading. There are also partial services that take a portion of the main analysis streams, pro services that offer more detail, and a selection of courses, ebooks, videos, and coaching opportunities for training. In this article, we will evaluate and review the various products and services that Elliot Wave International offers.
Elliott Wave International Subscription Services
The core products at EWI are what the firm calls the Essentials: a set of subscriptions that each come with a set of financial forecasts at a specific frequency. You get short-term information three times a week, monthly medium-term forecasts, and macro-level insight from the president of the company, Robert Prechter.
Each service has a focus. The basic service costs $59 a month and focuses on US markets. There are also global products with American, European, and Asian focuses as well as a European-centric product. They vary in price from $69 to $89 a month. Finally, there is a commodities-based analysis subscription and a trading course to train you in good trading practices.
Before deciding on whether or not you want to purchase one or more of these services, you need to know how much money you are expecting to make per month. Of course, this is hard to predict, but the main concern is that the money you need to spend to get enough data will start to really cut into your trading profits. Furthermore, if you like to trade often, then you are also paying brokerage fees more frequently. So you can avoid some fees by making fewer, larger, and longer-term positions, depending on your broker. That means you might not need analysis and forecasts three times a week in every market. On the other hand, if you really do prefer a lot of trading, then the subscription fee might be relatively small for you. The value of these products depends on your trading habits. It’s safe to say that the advice is sound, but you need to decide if it is worth the price. The training course is a standout, because it costs less than average at $49 a month and you can learn a lot with just a few months’ time.
Elliott Wave International Educational DVD Series
Developed by Jeffrey Kennedy, a renowned commodity analyst, the educational DVD series will provide you with some invaluable training and lessons and training sessions, including:
- How to time your entries with precision
- How to maximize your exits
- When to let your winners run
- When to take your profits
- When to look for another entry
When you watch the dvd’s, you’ll get to see:
- Actual working examples of wave patterns and how Jeffrey knows what point to get into a trade …
- How to identify the highest probable market moves — Jeffrey will share his own FOUR preferred trading set-ups and take you through each one in detail
- How to spot counter-trends within the trend — this is vital for you as a trader, because you’ll be able to confidently enter on pull-backs
- How to time your entry points with precision — no more jitters, just a clear way forward
- How to control your risk with protective stop placements — you’ll know exactly when your Elliott interpretation is wrong, when you need to get out and the difference between those two
Review summary: we definitely think the video series by Jeffrey Kennedy are a must-have for anyone interested in learning more about applying the Elliott Wave principle/theory to their trading strategies. Whether you are trading in the S&P500, gold, forex or any other markets, the educational video series offered by Elliott Wave International will teach you some important methods that will help you become a better trader.
The Partial Services are an interesting idea. Essentially, each Partial Service is a piece of one of the Essentials. That means you can carve out part of one of the major services that you thought was valuable and get it at a discount. This adds a lot of value, because there are not many traders who operate across many markets. Most people prefer to specialize. With one of the Partial subscriptions, you can pick and choose to find only the information that is most pertinent to your trading strategy. The personalizable aspect of the products means you have much more control over your stream of information. While many of the Essential Services are a little hard to justify, the idea of picking out just the parts you want for less money is great value.
There are a variety of other products that EWI offers aside from that core. First of all, there are the Pro Services. These are similar to the Essentials, but they offer more depth for more money. These are up to you- if the Essentials were already too expensive, then the Pro Services are probably not worth it. But if you felt that you need more out of your investment, take a look at the Pros and see if anything appeals to you. The Flash services are interesting- you sign up for one of five categories across ETFs, futures, and stocks. Then you get instant alerts to buy or sell whenever the software determines that the signals are pointing in one direction or another. It’s a nice thought, but quite expensive- one service is $199 a month. Each additional one costs less money, but that adds up very quickly.
The educational resources are fairly standard. You can invest in a few books or courses to start yourself off, but the real meat is in the subscription services, although the coaching can be useful for the personalized advice. EWI also runs a Certified Elliot Wave Analyst program. It’s not clear what benefits there are in becoming certified- you are probably better off spending your money on the educational materials if you want to improve your trading. The certification is based on online exams, so it won’t be nearly as interesting to employers as a masters or specific work experience would be.
If you are interested in making Elliot wave analysis a core part of your trading strategy, or if you already do so, then you should at least look at the products EWI offers. It’s the largest firm that specializes in wave-centric analysis, so they have significant resources in play for this specific kind of market analysis. The best value is in the educational tools and the Partial Services. The educational products give you a jump start in learning more about how to apply Elliot theory to actual trading- the coaching is particularly helpful. The Partials are excellent value because you can pick and choose only the analysis you want. Browse through the selection and see if anything catches your eye. They do cost a monthly subscription fee, but you could make enough from trading on the information in the forecasts that it would make it worth the money.
- Elliott Wave and Fibonacci Relationships: are they real? - December 7, 2015
- Elliott Wave International Review - November 23, 2015
- What is the Elliott Wave Theory/Principle? - November 22, 2015
- The Elliott Wave Principle and Gold - November 18, 2015
- The Elliott Wave Principle in Forex Trading - November 18, 2015
- Elliott Wave DNA Review - November 16, 2015
- Elliott Wave and the S&P - November 16, 2015