A Brief Biography of Robert Prechter

Robert Prechter has been publishing the Elliott Wave Theorist every month since 1979. Previous to this he worked as a Technical Market Specialist for Merrill Lynch for four years.

Robert Prechter has won numerous awards for his market timing ability and has become the both the public face and president of Elliott Wave International. He has written and co-written a number of books about market timing, Wave Theory and socio-economics. I don't think it would be an overstatement to call him a leading market thinker.

I first read his book Elliott Wave Principle in around 2001. I won't lie to you, it isn't a walk in the park. You need to concentrate and really work to understand some of it. If you plan to be an investor, understanding the theory of waves will be interesting to you. It will probably be worth the effort.

However, if you plan to trade in the market, this book is a must read. Even if you as a trader do not plan to use Elliott Wave Theory to help you, you must realise that virtually every other competent trader, investor and fund manager has read the book. Most fund managers and traders will refer to wave patterns to help them make investment decisions.

Knowing and understanding what many of the other market participants are thinking and the understanding the numbers they are analysing will be of invaluable benefit to you.

Once your knowledge of waves begins to grow, you may even become an Elliott Wave trader yourself. Understanding the market moves and smaller waves within a larger wave movements will open up many new profitable trading opportunities.