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Glenn Neely's Elliott Wave analysis and NEoWave trading techniques have evolved over more than 30 years of real-world forecasting and trading. Over the decades, Mr. Neely came to a shocking realization. In his words: "It was important to remove forecasting from the trading process as much as possible, if not completely."
This astonishing realization brought forth Mr. Neely's extremely insightful perspective – and proven approach – to real-world trading that reaps profits. Instead of pursuing "Elliott Wave Trading" like other Wave theory analysts, Glenn Neely developed his unique Neely River Trading Technology.
To offer a bit of perspective on Mr. Neely's realization, it's helpful to keep in mind that there's a vast difference between forecasting and trading. Elliott Wave is a forecasting tool (or approach) and is less useful for trading. Elliott Wave forecasting (not Elliott Wave trading) gives you an idea about direction, magnitude and duration, but it does NOT provide a clear indication of specific entries, stops, and targets. In short, Elliott Wave is a general forecasting tool that offers direction rather than bottom-line trading specifics.
On the other hand, Neely River Trading Technology is a better tool (or approach) for trading, because it enables you to determine actual entry points and stop placements. That's why over the decades of conducting real-world trades, Glenn Neely realized he needed something else that would ensure profitable trading, something in addition to Elliott Wave Theory. Neely River Trading Technology is the "missing ingredient," providing indicators regarding HOW to trade a market, as long as you know the direction.
Click HERE to listen to this 32-minute interview (or read the full transcript).
Click HERE to learn more about the NEoWave Trading service.
"Think about this analogy: If you're in a boat on a river, you don't predict where the ocean is. You don't predict which way the water is flowing. You just observe. It's plain as day. You just look at it.
"With River Theory, you observe the direction or flow of the market just by carefully looking at it. You know what the direction is. You don't necessarily know exactly how long it's going to take to go one direction or the other – or how long it's going to take to get to wherever it's going to go.
"You don't even necessarily know how far it's going to go, but you know how to manage yourself, just like you would know in a river how to manage the boat to avoid the side of the river, sandbars or rocks. Just by looking, you know how to manage and maneuver.
"That's what Neely River Trading Technology is about.
"It's how to manage and maneuver in a real-world trading environment, NOT with the assumption that you KNOW where it's going or how much money you're going to make – but what to do until it gets where it's going. It's a completely opposite approach to the way most people deal with markets.
"In the first 15 to 20 years of my career, I began to realize that forecasting is the reason most people don't make money trading. They're focused on this hope and dream of all the money they might make INSTEAD of focusing on how much money they might lose if they're wrong.
"When your focus is only what you might make, you tend to ignore losses. You'll risk more, and a few really big losses will wipe out your account. If you're not focused on how much you're losing and only on the hope you're going to become a millionaire over a few trades, then you're not really focusing on what's important to survive.
"Survival is the name of the game.
"Every trade can't work. You can't be right about every trade. If someone is using an approach that happens to be wrong the first three, four or five times, and they're risking 5%, 10% or 15% per trade, they're going to wipe out their account pretty quickly and get to a point where they can't trade anymore.
"It started to dawn on me that the majority of the world focuses on the wrong thing, which is trying to predict what's going to happen, which then gets them emotionally involved in this theoretical future of them making a lot of money.
"They just ignore when things are going wrong. They're not looking at the fact that the market is going down, against their position. They just keep saying, "It's going to make it. It's going to go back up." Or if they're trading options they might say, "I still have a month left, and anything could happen." They talk themselves into this belief system that creates a distraction from the important issue, which is trying to protect your capital so that if you're wrong this time, you can try again later.
"You can't trade or invest as if THIS ONE TIME is going to be the time you make tons of money. If you put everything on the line and you're wrong, it's all gone.
"The goal of Neely River is to get out of that forecasting, belief-driven, Las Vegas kind of mentality where you put up a little and make a lot. Everyone believes forecasting is the answer to making money trading or investing. It's my belief and (from actual practice) my certain position that that is not correct. I'm introducing an entirely different kind of philosophy or new paradigm to trading that has not existed before.
"Neely River Trading Technology is NOT Wave Theory Trading, because you're not trying to predict what's going to happen. You're just dealing with the evidence that you have and deciding how to maneuver and position yourself, and move stocks based on concepts that are more observational than anticipatory. It has taken me more than a decade to devise a way of looking at markets, observing price action, and reacting to reality instead of anticipating the future. Neely River is a very different approach."
Click HERE to listen to this 32-minute interview (or read the full transcript).
Click HERE to learn more about the NEoWave Trading service.
