Ripple (XRP) Makes Huge Waves: Did You See Them Coming?

By Elliott Wave International

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This article was syndicated by Elliott Wave International and was originally published under the headline Ripple (XRP) Makes Huge Waves: Did You See Them Coming?. EWI is the world's largest market forecasting firm. Its staff of full-time analysts led by Chartered Market Technician Robert Prechter provides 24-hour-a-day market analysis to institutional and private investors around the world.

Successful Traders "Learn to Do Something That Almost No One Else Can Do"

Why successful financial speculators are so rare

By Elliott Wave International

Most market speculators dream about trading their way to wealth.
But, also, most discover very quickly that their list of trading "dos" and "don'ts" are just not sufficient.
The hard, cold truth is that most will fail. According to brokers' statistics, up to 90% of all traders will end up losing money. It's a steep hill to climb.
But, there is a way. As you keep reading, you'll discover how to get important insights into what makes traders successful.
In the meantime, let's start off with some words of warning from professional trader Peter Brandt, who contributed this to the April 1991 Elliott Wave Theorist (Brandt's insights are timeless):

I believe that it takes a minimum of 3 to 5 years for a person to learn enough about speculative markets and the speculative process to become a successful trader. I also believe that every successful trader has his or her unique approach to trading. I have not known two successful traders that operate in the same exact fashion. Each has found a special niche that seems to fit his personality.

The major problem is that the vast majority of individuals (80-90%) either burn out their pocketbooks or their emotional will to continue trading before they figure out the rules of the game. This is a cold and harsh reality, but a reality it is.

Robert Prechter explained why successful traders are few and far between in the June 2004 Theorist:

This discussion about the natural tendency of people to apply physics to finance explains why successful traders are so rare and why they are so immensely rewarded for their skills.

There is no such thing as a "born trader" because people are born -- or learn very early -- to respect the laws of physics. This respect is so strong that they apply these laws even in inappropriate situations. Most people who follow the market closely act as if the market is a physical force aimed at their heads. Buying during rallies and selling during declines is akin to ducking when a rock is hurtling toward you. Successful traders learn to do something that almost no one else can do. They sell near the emotional extreme of a rally and buy near the emotional extreme of a decline.

The mental discipline that a successful trader shows in buying low and selling high is akin to that of a person who sees a rock thrown at his head and refuses to duck. He thinks, I'm betting that the rock will veer away at the last moment, of its own accord. In this endeavor, he must ignore the laws of physics to which his mind naturally defaults. In the physical world, this would be insane behavior; in finance, it makes him rich.

Unfortunately, sometimes the rock does not veer. It hits the trader in the head. All he has to rely upon is percentages. He knows from long study that most of the time, the rock coming at him will veer away, but he also must take the consequences when it doesn't. The emotional fortitude required to stand in the way of a hurtling stone when you might get hurt is immense, and few people possess it. It is, of course, a great paradox that people who can't perform this feat get hurt over and over in financial markets and endure a serious stoning, sometimes to death. Many great truths about life are paradoxical, and so is this one.

Prechter won the United States Trading Championship in 1984. He made approximately 200 short-term trades as he followed hourly market data over a four-month period.
After reflecting on his trading experiences, Prechter decided to write down the guidelines you really need to trade the financial markets successfully.
Get the free report, "What Every Trader Really Needs to be Successful."

What You and Every Other Trader REALLY Need to Be Successful

Trading isn't easy. You know as well as we do how confusing and frustrating it can be.
So frustrating, in fact, that it can lead you to veer off course – and give up trading entirely.
There is a better way. Often, all a trader like you needs are a few simple tips to right the ship and set it back on course.
You can get tips from a U.S. Trading Champion.
In 1984, in a monitored account, Robert Prechter won the U.S. Trading Championship with a then-record 444% return. He later earned the title of "The Guru of the Decade" from the network today called CNBC.
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This article was syndicated by Elliott Wave International and was originally published under the headline Successful Traders "Learn to Do Something That Almost No One Else Can Do". EWI is the world's largest market forecasting firm. Its staff of full-time analysts led by Chartered Market Technician Robert Prechter provides 24-hour-a-day market analysis to institutional and private investors around the world.

Will the Fed’s Rate Hikes Choke the Stock Market Rally?

Fact: The direction of interest rates does not determine the stock market's trend

By Elliott Wave International

Investing is hard. You, like many others, probably watch financial TV networks, read analysis, listen to talk shows and talk to fellow investors, trying to understand what's next.
One popular stock market "indicator" is interest rates. Analysts parse every word from the Fed, hoping they hear a clue about interest rates. They assume that falling rates means higher stock prices, while rising rates means lower stocks.
But does the conventional wisdom about interest rates and stocks square with reality? Let's do a brief historical review.
From October 1974 to December 1976, the stock market rose as the Fed funds rates trended lower. This occurred again from July 1984 to August 1987. Conversely, stock prices faltered as interest rates climbed from January 1973 to October 1974 and again from December 1976 to February 1978. So far, so good: rates up/stocks down, or vice versa.
But stock prices have also fallen as interest rates declined -- more than once. Take a look at the chart below. The commentary is from the February 2010 Elliott Wave Theorist:

[The chart] shows a history of the four biggest stock market declines of the past hundred years. They display routs of 54% to 89%. In all these cases, interest rates fell, and in two of those cases they went all the way to zero!

The next chart shows you when stocks and interest rates trended higher together. You can see the Dow rise from March 2003 to October 2007 as rates climb from around 1% to over 5%.

Here's the point: There is no consistent relationship between interest rates and the stock market.
That doesn't mean volatility will be absent around the time of a Fed meeting. But, if that ever turns out to be the case, keep this in mind from a classic Elliott Wave Theorist:

The Fed's decision will not cause any such volatility; it just may (or may not) coincide with it. Whether volatility continues around the Fed's meeting is up to the markets, not the Fed... [The] Fed's meeting, therefore, is not crucial, pivotal, historic or momentous. It is mostly irrelevant.

Investing is hard, but believing in the myth that interest rates have a big influence on the stock market makes it even harder. And, we have several more popular myths to dispel for you in our free report, Market Myths Exposed.
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This article was syndicated by Elliott Wave International and was originally published under the headline Will the Fed’s Rate Hikes Choke the Stock Market Rally?. EWI is the world's largest market forecasting firm. Its staff of full-time analysts led by Chartered Market Technician Robert Prechter provides 24-hour-a-day market analysis to institutional and private investors around the world.