Glenn Neely from failed trader to consultant.
Glenn Neely is a well-known figure in the stock exchange world. Glenn Neely's greatest contribution was his refinement of the Eliot Wave Theory, which was shown to the world in his published book Mastering Eliot Wave Analysis.
The author not only brought theoretical clarity by removing the factor of subjectivity in Eliot's theory, but also developed new shorter models that have more accurate characteristics.
If we talk about the biography of Glenn Neely, despite his enormous contribution to the development of technical analysis and enormous worldwide fame, his life path remains a mystery to this day.
In his speeches, Glenn Neely avoids talking about his family and past in every possible way, clearly setting the date 1981 as the beginning of his stock exchange journey.
Getting to know the stock exchange. First negative experience
Glenn Neely, wanting to improve his financial situation, begins to take an active interest in the Stock Exchange. Glenn Neely is a classic example of a self-taught trader who read dozens of books in the hope of finding something worthwhile.
However, dozens of re-read books did not give any special results, with the exception of Eliot’s wave theory, but in the first stages it is quite difficult for a beginner to master it. Therefore, in 1982, Glenn falls for the scammer and buys a trading system for $2,000, which, according to the seller, should provide a stable income.
After the purchase strategies and testing it, Glen learned a simple lesson - one strategy for successful trading is simply not enough.
Persistence and self-improvement
After a bitter experience with the buying trading strategy, Glenn Neely continues to educate himself and remembers Eliot's theory, which he loved. The re-read textbook inspires him so much that he, in turn, begins to conduct research and finds confirmation of the theory on a real graph.
To deepen his research, Neely leaves his main place of work and begins to trade independently, while simultaneously finding more and more new patterns.
As a result of fanatical research Eliot's wave theory, Glenn Neely is gaining tremendous experience in this area, so he decided to create the EW Institute, which in 1983 began training and consulting traders over the telephone on wave theory.
The creation of such an institution attracted enormous attention from scientists and traders, who became the backbone of the team and continued their research activities.
Transformation and world fame
Since 1986, Glenn has been actively invited to various television programs dedicated to stock trading, as well as on radio broadcasts, in order to receive his forecasts. Along with fame and popularity, Neely actively continues to improve the wave theory, and in 1987 launches the paid analytics service WaveWatch.
The analytics were so popular that his institute team issued a forecast for 80 years into the future, which gradually began to come true.
As his research progressed, Glenn Neely began to transform from an ardent admirer of wave theory into its main critic. Thus, seeing in practice the subjectivity of this approach and the imperfection of the five wave models, Neely begins to find new, shorter wave formations, and is also engaged in concretization in markings.
The result of many years of research was the publication of the book “Mastering the Analysis of Elliott Waves”, and then his own theory called NEoWave. This theory was taken as a basis by Glenn Neely, so the institute was renamed in her honor.
In 1991, Nill received a new round of fame, as the Reuters news agency arranged for him to travel around Asia, where he, in turn, was able to present his development to the whole world.
Today, Glenn Neely remains the head of the NEoWave Institute he created and conducts training seminars on an ongoing basis. It is also worth noting that his academy still exists at the moment, so you can always buy forecasts on the official NEoWave website.