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elliottwave.com (EWI - Elliott Wave Internationial) Review Visit site

Updated: Jun 8, 2018
2.634 · 14 REVIEWS
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2.634 · 14 REVIEWS
Forex Peace Army

Let other traders know if this service is worth checking or should be avoided.

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New York, USA,
Jun 6, 2018,

For the entire month I did not get anything of benefit

My review is for elliott wave forecast services in general. I tried a service for one month that provides daily/weekly forecasts. For the entire month I did not get anything of benefit that either A) Helped my trading, or B) Provided a signal for a trade in which I entered the trade and it was profitable. Every time the wave forecast did not go according to plan, they simply redraw the waves. The waves are so subjective, the presenter in the live trading room would say "Well this could be A B C over here, or it can be here, or even it can be counted another way". There was one trade that they called long in the live trading room that I clearly saw was a top in the market with a bearish divergence on the RSI. So I didn't take the trade because to me it was clearly going to reverse as there was multiple confluences but the Elliott Wave group was calling for more high's because they trade strictly off the waves and do not take anything else into account even such simple technical charting techniques as long term structural support and resistance areas. Well, I was right in my analysis and the trade went south big time. Could have cost me a great deal of money following that and I feel bad for those in the service that did. I really wanted to believe Elliott Wave could help my trading in some way but it did not and that's my honest experience after putting it to the test for a whole month every single day. After taking this subscription, I actually no longer believe in Elliott Waves at all. In this difficult to navigate world of trading, you never know what is real and what is made up to make a profit for seller of the system. Too many people are getting rich off selling systems and not actual trading. The people who provide the Elliott Wave service do not even show their own accounts are profitable. They do not show any trading statements, or even the fact that they take these trades in a live account themselves. If the system was profitable I don't see any reason whatsoever not to show a live statement. It's just nonsense.
Mar 13, 2018,

Wrong 99% of the time.

Holly cow...they are WRONG 99% of the time IN EVERYTHING...forex...US equities...cryptos!!!!! I have lost 100's of thousands of dollars listening to them. RUN, don't walk. I've even thought about doing the EXACT OPPOSITE of what they say. That's the only use they could be. If your count lines up with theirs, you are wrong.
Conrad M,
California, USA,
Mar 27, 2015,

I've been a currency pro service subscriber for about 6 months now. I started with the intraday to test it out, as I was very skeptical (as anyone who is reading this likely is as well). I've come to value their market analysis and expanded my subscription to include daily, and the Elliott Wave Theorist and Trader's Classroom.

If you a looking for trade recommendations...this is not your service. It looks like there are some people who have taken their analysis and blindly traded from it. That is not how I have found any value or success with EWI.

For anyone looking to subscribe to EWI, I would suggest first getting a basic understanding of the Elliott Wave Principle. Once you do, you will understand that their are preferred counts, and alternate counts. It is not fool proof as the markets rarely behave how we like.

Once you have a good understanding of the Elliott Wave Principle, then I believe the pro service will be of help to your trading. Even then, this is not a golden ticket for success...you have to know how to trade. If you do not know how to make proper entries, exits, and stop losses, you will lose money no matter what system you use.

I have found EWI's currency pro services very helpful in my own analysis. I use it to confirm my own analysis. With that confirmation, I have a higher success rate with my trading.

You must know the basics of trading (entries, stop losses, exits...risk management) and the Elliott Wave Principle, before this can be of value.

EWI's pro services has become a primary resource in my trading. The more I learn and understand the Elliott Wave Principle with the help of EWI, the more profitable I become.
Aug 6, 2014,

I subscribe to Pro Service this month. I realize that these are difficult times on the stock exchange, Therefore I decided to trust professional help.It was a big mistake, extremely incorrect and misleading analysis. I lost on the stock a lot more than 190 dollars I paid for Pro Service subscribe, I would never trust their analysis again
, USA,
Jan 22, 2014,

Absolutely TERRIBLE. I have lost MANY 10's of thousands of dollars. AND...missed out on several years of long trades due to their absolute bearishness outlook. I am even starting to REALLY question the Elliott Wave theory itself. The only thing I can say....I am glad I got rid of their $200/mo Specialty service a year ago...saving $2400. I figured out that I am just as good at guessing the wave count/structure as them. Run away...it will save you money.
Skopje, Macedonia, The Former Yugoslav Republic of,
May 30, 2012,

Elliot Wave International are a good source to learn the principle, but beware. Do not take them for granted because what you will find is that they swear by the theory and almost ignore all other tools available. They will even tell you to completely ignore the news. Now be smart. The news actually are drawing the Elliot wave patterns so always keep an eye on the news. The principle does work but the problem is in real time every wave can get an extension within an extension and combine and become complex. So if you use the theory use it with other tools also and that way it can be quite an enhancement. But ignoring everything else is madness.
San Diego,
Aug 22, 2009,

I tried the EURUSD & USDJPY intraday service and noticed that most of the time their analysis are wrong. You might be better off by flipping a coin. Also, if you have a question regarding the analysis it takes them about 8 hrs to respond.
Jul 29, 2009,

I had high hopes that EWI would help me make the right choices-
Their calls were wrong 12 of 13 times- calling 3 false tops and then saying buy when it finally was a sell- perfectly screwing everyone who took their "advice" out of any chance at a good position.
Practce trade first even though its $250 a month- that way you only lose $250.
Their updates have no fixed time stamps so you cant see when they actually posted. They fail to update when critical points are hit(or not hit)- even giving excuses like internet problems several times in my month of service. Then they crow about their alternate count being right 12 hours later.

Their is a secret to Elliott Wave Theory- it is that all patterns can become any other from wave 1-except 1 that has a short period of extreme certainty( you will have to figure that out on your own, and they never mention it.) This enables shrewd psych folks to sound like they know alot more than they do in retrospect with an alternate and maybe an alternate alternate.

They give lots of free stuff but they charge per currency and do almost no cross corelation of any of the markets they follow- buy the services at their suggested time of 2 months to learn how to use their signals and you will have paid about $500 to track 2 currency pairs-poorly- more if you get the eod update(which they dont cross correlate either- so no"we are coming up on the 200 sma" or the daily trend line might be broken without mention).

On the bright side after looking at their analysis you realize you can do just as good a job with your own basic elliot wave analysis.
These guys are psychologists and very interesting -but their short term/day trading for FX was incomplete and worse than worthless for me.
Buy some books on EW- sign up for Prechters newsletters for a while and you get some free- but dont put real money down- the old rules still apply- DIY.
Alex Findlay ,
Jan 7, 2009,

I call Elliot Wave a value for money provider Alex Findlay.

I first subscribed in 2005. The team was great. I used the trial period then subscribed. Believe it or not they sent me almost $100.00 worth of books on the theory. They had my money and were not obligated to do so but I received a call from Elliot Wave saying THANK YOU. We want you to succeed because our success depends on yours. They were great. They gave me free access to their analyst who would explain his reasoning and even welcomed the challenge of non Elliot Wave Annalists and respond. They will not provide entry and exit points but the commentary alone is worth the money. Their theory is money in the bank. It provides confidence and barring any major news story always points in the right direction. We use it to compare our analysis along with 4 other providers. We have found that signals in the opposite direction of Elliot Wave are almost 100% wrong and will sit out unless all signal providers disagree with Elliot Wave and if that happens Elliot Wave will post a bulletin confirming to reversers strategies in the short term or sit on the fence before you are stopped out in most cases. King Arthur had his round table of knights. Elliot Wave must be allocated a seat in your round table to win in Forex. I keep their site on line 24 hours a day right next to the Bloomberg Terminal.

Best wishes

Alex Findlay
Los Angeles,
Aug 4, 2008,

So far, so good. I have purchased a training video and some books from their site and I am very satisfied so far. The material is presented clearly.

I am looking to subscribe to their Forex service. Would any of the previous posters with direct experience (TODD) be willing to contact me? I just have a few questions and I would really appreciate it.