How EWT Began - Market Analysis for Mar 24th, 2013
As a lawyer and accountant, I used to be a high ranking partner in a national accounting firm at a very young age. I built and brought in significant business in the 5 years that I was there, with over 70 employees that I hired and worked under me. But, when my first wife said she was leaving me and the kids, I put in my resignation, and began working from home doing tax and M&A consulting. I shortened my work days to end at 3:30, so I was able to be with my kids when they came home from school.
It was years later that I met Becky, and we married. But, 11 days after our son was born, we found out that she had a very rare form of cancer. So, as things became much more hectic at home with 4 children, the youngest being an infant, and a wife who was ill, I was not able to focus on my practice as much. Ultimately, I had to tell my clients – who actually became friends over the years – what was going on, and slowly had to let some of them go as clients since I was not able keep up with the work.
As I was spending the majority of weeks at a time with Becky in the hospital, I began doing some day trading to make some additional money. Until this time, I had a “hobby” of learning various methods of stock market analysis, and the only thing that seemed to really work and speak to me was EW. I started using it more and more while day trading, and then began looking for websites that offer chat rooms so I can get stock ideas to trade.
This is how I stumbled upon Harry Boxer, and his site TheTechTrader.com. Harry was great at identifying the momentum stocks, and I started to trade with the folks on his site. As I became more and more comfortable on the site, I started to make some market and stock recommendations for top and bottom targets in equities as well as the stocks we were following. Since a great number of them proved to be quite accurate, Harry and many of the members began to take notice. Harry reached out to me, and we started speaking on the phone, as he was curious as to how I came about my accurate market calls.
After a bit more time went on, and more day trading out of hospital rooms, Harry started to suggest to me that I start a site of my own based upon my EW analysis. I was truly flattered by the offer, as he wanted to set me up with his partner, Rich, who worked with him on getting his site started a decade before. I explained to him my personal situation, and that I was working out of a hospital room, and did not think I would be able to dedicate the time and effort needed to begin a site at a time like this in my life.
So, maybe another 6 months went by, and we started seeing some daylight in Becky’s condition. But, I already had to abandon my main practice because I was not able to devote the time and travel to assist my clients appropriately. So, after much deliberation, and at Becky’s insistence, I decided to take Harry up on his offer. Harry then introduced me to Rich, and we began our discussions.
I know I may embarrass Rich with what I am about to say, so I do apologize Rich! Lol But, in our first discussions, Rich said that he had prior experience in attempting to start an EW site, and it was a complete disaster. He was not so sure about starting another site based upon EW.
But, I insisted that there was such a lack of support in the cyber-world for those who are trying to learn EW. I felt strongly that those who wanted to learn or were just starting their learning of EW needed to have a support site to assist in their growth along the right path. There were just too many bad EW analysts out there, and that is what has given EW a bad name over the years. Rather, if there was a site that could be true to the rigorous standards espoused by Elliott, then people who were really interested in EW would have a place to go to support their learning.
Well, as they say, the rest is history, as we began to build ElliottWaveTrader.net.
As for Zac ("Cow"), he has been a close friend of mine for over a decade now. We both live in the same community, go to the same synagogue, and live just blocks away from each other. After I first learned EW, I had a discussion with him about it, and he was intrigued. I set him up with Frost & Prechter, and we went back and forth a lot as he was learning the method, and I tried to provide him as much of my insight as possible as he was learning. But, there was not doubt that Cow was a prodigy at EW.
As for Garrett ("Shift") and Arkady, they both came onto the site as members, and began learning our methodology on the site. They became so proficient in such a short period of time, there was no other way to describe them both other than as prodigies, just like Cow. They were all so good, we considered ourselves lucky to be able to add all three of them to the EWT family.
So, here were are today, after being open for a year and a half, and a membership base that truly astounds me in both its size and depth of knowledge and experience.