About Me
Hi everyone,
My name is Robertino. I am working in the Canadian mining industry and I have been interested in the stock market ever since I graduated from university in 2005. After tasting life after school, I realize that life isn’t exactly as straightforward as it seems. As soon as I step into the working world, I am in the same race as everybody in chasing our own dream(s). Granted, not all dreams require money or have to be materialistic type. I’m a believer that one can have the calling to be a monk/priest/etc and live in a non-materialistic life and I truly admire such noble purpose. But, at some point in one regular person life, there will always be a thinking moment about how to sustain our life expenses as well as future retirement.
Because everybody cannot be an expert in everything, we depend on many people to sustain our life. Plumbers, doctors, electricians, engineers, those are the kinds of experts we depend on. On the financial side, we just happen to have financial analysts, financial advisor, etc to depend on. Depending on expert skills is a good idea since we can avoid costly and fatal mistakes. Unfortunately in the financial world, most of these experts don’t understand fully about what they are dealing with. If I start investing (assuming I put $100/month in the broadest index fund) in 2000 when the market was at its top, I will lose all my contribution until 2002. By the end of 2007, I would barely recover (only the original money, doesn’t include inflation adjustment etc) what I lost in that 2 years. The advisor would say that the market is unpredictable and in the long term, we will gain profit. How long is long ? My career probably last 30 – 40 years and I would have lost the first 8 years of my investing life if this was the case. I just can’t make sense of it anymore.
I must say that scenario is probably better, since I would have put some money in other investment vehicle like bonds and GICs during that time, than trading my own money in the stock market without sufficient knowledge. I live in an environment where most people believes investing on your own terms in stock market is adventurous and can make you rich, but at the same time a lot of people in consider it gambling. During my first few trades, I totally agree with the gambling side of it. The market seemed random and always going against me. After a year, I almost gave up and started to accept that maybe I have to rely my financial life on the so-called experts, until I learn more about Elliott wave theory.
In the last 2 years, I have traded US stock options on mostly DJIA and QQQQ (Nasdaq ETF) indexes. I believe that option is a sophisticated trading vehicle that offer low capital entry, manageable risk and high return. Just about 6 months ago, after trying many different stock market forecasting method, I decided to use Elliott Wave Principle as my forecasting method. I totally agree that stock market does seem random in its movement and no forecasting method can predict with 100% accuracy. When I was learning option, one instructor told us that a trader can lose 7 trades in the last 10, and still break even. I did not believe him at all…until 2 years later. With discipline and a practical forecasting method, I believe that this is true.
Why Elliott Wave ? Because Elliott wave principle is a theory that is based on human psychology. All of us who read financial books on stock market trading have heard the saying, “the market is run by fear and greed”, hence the unpredictability is justified. Yes, human emotion is moved by news and other financial numbers, but ultimately it is fear and greed alone that determine where the stock market will go. I still cannot believe how ‘predictable’ we are to R.N. Elliott that he managed to actually formulate mass psychology in form of waves counting. We are creatures of habit nevertheless. I believe that wave counting can be made practical in use, but I want to say that this is not an easy method to learn and apply.
I am using this website to practice my own wave counting and to share my views on how to trade Elliot Wave. In no way whatsoever that I claim to be an expert in this field. But, I hope that my experience and your shared views will build our trading sense. In the future, maybe this can be one of the forums for many newbie Elliot wave believers out there.
Other than stock market investing, I believe real estate and entreprenurial businesses are good investment vehicles to help you take care of your own financial life.
For those of you who have seen my first website version, I have jumped ship from Joomla 1.0.15 to Wordpress 2.5 because of the clean and structured look of Wordpress theme. Hopefully this will make Elliotwavefan.com looks better.
Thank you and hope you enjoy your visit!
Admin
admin@elliotwavefan.com
