Glenn Neely from unsuccessful trader to consultant.
Glenn Neely is a renowned figure in the trading world. His significant contribution is considered to be his refinement of the Elliott Wave Theory, which was presented to the world in his book, "Mastering Elliott Wave Analysis.".
The author not only brought theoretical clarity by removing the subjectivity factor from Elliott's theory, but also developed new, shorter models with more precise characteristics.
Despite his enormous contribution to technical analysis and his immense worldwide fame, Glenn Neely's life remains a mystery to this day.
In his speeches, Glenn Neely avoids discussing his family and past, firmly establishing 1981 as the beginning of his trading career.
Getting to Know the Exchange: A First Negative Experience
Glenn Neely, eager to improve his financial situation, began to actively study the stock market. Glenn Neely is a classic example of a self-taught trader who read dozens of books in the hopes of finding something worthwhile.
However, dozens of books read yielded no significant results, with the exception of Elliott Wave Theory, which is quite difficult for a beginner to master at first. So, in 1982, Glenn fell for a scammer's trick and bought a trading system for $2,000, which, according to the seller, would generate a stable income.
After purchase strategies and testing it, Glen learned a simple lesson - one strategy for successful trading is simply not enough.
Perseverance and self-improvement
After a bitter experience with a purchased trading strategy, Glenn Neely continues his self-study and recalls his beloved Elliott theory. Rereading the textbook again, he finds it so inspiring that he begins conducting research and finds confirmation of the theory on a real chart.
To delve deeper into her research, Nili quit her day job and began trading independently, simultaneously discovering more and more new patterns.
As a result of fanatical research Elliott's wave theoryGlenn Neely gained tremendous experience in this field, so he decided to create the EW Institute, which in 1983 began training and consulting traders over the phone on wave theory.
The creation of such an institution attracted enormous attention from scientists and traders, who became the core of the team and continued research activities.
Transformation and World Fame
Since 1986, Glenn has been frequently invited to various television shows devoted to stock trading, as well as radio broadcasts, for his forecasts. Along with his fame and popularity, Neely continued to actively refine wave theory, and in 1987, he launched the paid analytics service WaveWatch.
The analysis was so popular that his institute's team released 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 supporter of wave theory into its primary critic. Thus, witnessing the subjectivity of this approach and the imperfections of the five-wave models in practice, Neely began to discover new, shorter wave formations and refined the labeling.
The culmination of many years of research was the publication of the book "Mastering Elliott Wave Analysis," and later a theory called NEoWave. This theory was adopted by Glenn Neely, so the institute was renamed in her honor.
In 1991, Neill received a new boost in fame when Reuters arranged for him to travel to Asia, where he was able to present his invention to the world.
Today, Glenn Neely remains the head of the NEoWave Institute, which he founded, and conducts ongoing training seminars. It's also worth noting that his academy is still active, so you can always purchase forecasts on the official NEoWave website.
