Inside Trade | A Pillar of Analysis - Ralph Nelson Elliot

An American account whose extensive study of the stock market had lead him to develop one of the most famous and widely used analysis in the market, the Wave Principle.

Ralph Nelson Elliot was born on the 28th of July in the year of 1871 at Marysville, Kansan but later on moved San Antonio, Texas.

At the early age of 20, he started to take up executive positions for railroad companies in Central America and Mexico and later on entered the field of accountancy. He married Mary Elizabeth Fitzpatrick in 1903 that became his companion during his long years in Mexico.


He was regarded as a qualified economist and took part on several international projects of the government wherein he served as an auditor and consultant. During his service to the government, he managed to publish two books, Tea Room and Cafeteria Management, which is based upon his personal experience. He then started conducting business consultation in 1927.

In 1929, a great misfortune had struck Elliot. He acquired a malignant anemia and forced him to an early retirement at the age of 58 because he was already bedridden. But his spirit was truly indomitable and was resenting to be stagnant despite the his condition, so he began to analyze the stock market that later on pave way to the Wave principle. The work of Charles Dow (Dow theory) and Robert Rhea were his main influence.

After several years of research and investigation in the equity market, it lead him to the discovery of unknown patterns of price movement. The detailed result of his work was published in his book, The Wave Principle, wherein a collaboration was done with Charles J. Collins. Several other articles and books were also published after the first book and the last was Nature's Law-The Secret of the Universe  which become his final major work and was released in June of 1946. Two years late, he died. Doors to numerous research had been opened after his death.