20 April, 2012
By Elliott Wave International
In the play "The Secret to Freedom," Pulitzer prize writer Archibald MacLeish had a character say this:
The only thing about a man that is a man is his mind. Everything else you can find in a pig or a horse.
MacLeish knew how to state the truth plainly.
And the truth is, you can use your mind in any way you wish.
When it comes to financial markets, most allow others to do their thinking for them. You’ve heard the phrase "the blind following the blind." Yes, they both fall into the ditch.
At Elliott Wave International, our mission is to keep our subscribers out of the ditch. To do so, we must first do our own financial thinking before offering our conclusions to subscribers.
Robert Prechter found it easier to think independently by being physically removed from Wall Street. In this excerpt from the book Prechter’s Perspective, Prechter was responding to an interviewer who asked about Prechter living 60 miles north of Atlanta:
It’s an advantage in my opinion to be away from the storm of mass psychology that exists in the financial centers. I have purposely distanced myself from New York to avoid the overload of superfluous information that you are exposed to there. I am an observer of crowd behavior. I think it is extremely difficult to shield yourself from the crowd’s influence when you are part of it.
Now, we don’t advocate contrarianism for its own sake. That would be just as big a mistake as letting the Wall Street crowd do your thinking for you.
That said, our financial analysis is born of deliberate independence.
Granted, the crowd might be right for a time, but generally not for long, and never at important turning points.
Learn to Think Independently
Being an independent investor never goes out of style — whether the markets are bullish or bearish. Learn to challenge conventional notions about investing and explain market behaviors that most people consider "inexplicable" with the FREE 50-page Independent Investor eBook.
You’ll get some of the most groundbreaking and eye-opening reports ever published in Elliott Wave International’s 30-year history; you’ll also get analysis, forecasts and commentary to help you think independently in today’s tumultuous market.
The Northern Italian city of Bergamo is the upcoming location of XM’s free seminar on 2nd September this year, designed for traders who wish to expand...
This year Grand Capital has held 20 educational events in South Africa, that were attended by nearly 1000 aspiring traders and investors...
XM will be hosting a forex trading seminar in Kuala Lumpur on 9th September this year, dedicated to imparting valuable knowledge to all those open for practical...
Following the 2017 Brokers Show Expo in Shanghai on 24 June, and a series of successful Ultimate Trading Formula events, FXTM was pleased to present...
Dedicated to offering online investors a more accurate and deeper understanding of swing trading techniques, the latest seminar hosted by XM...
For all those who wish to get a solid grasp of forex and stocks trading techniques, XM will hold a free seminar in the Hungarian capital, Budapest...
We continue to hold educational events in Vietnam. On the 1st of July, Grand Capital held its second trading seminar in Hanoi, the capital of Vietnam...
They say gaps always get filled, but not all gaps fills back, Learn to identify properly the different types of gaps and know what true meaning they each hold...
After having held a number of successful trading seminars in Indonesia, India, and Pakistan, Grand Capital continues to expand...
|8||Fort Financial Services||69%|