The Wave Principle helps traders identify exactly when they're wrong. Elliott Wave International's Jeffrey Kennedy calls the "wrong" areas "specific points of ruin." Presumably, those points are good places to set stop losses. Kennedy also talks about how he spots trade opportunities and how he decides when it's time to enter a trade in the free report: Learn How the Wave Principle Can Improve Your Trading.
Elliott Wave theory trading helps you remove emotion from your trading and learn to manage your positions objectively – so you can make the most of your high-confidence trade set-ups. In this free Report — Learn How the Wave Principle Can Improve Your Trading — trader Jeffrey Kennedy explains:
- The 5 ways the Wave Principle improves trading
- The best waves to trade
- How to set your protective stops
Excerpt:
This article was syndicated by Elliott Wave International and was originally published under the headline Wave Principle Offers Specific Stop Levels – Part 1 of 2. EWI's full-time analysts are led by Chartered Market Technician Robert Prechter.