Elliott Wave theory is known to have a subjective aspect to it, which can make it challenging, especially for novice traders. Having a mentor is a must , who through his experience can guide and give you the pitfalls to avoid and stay away from.Here are some reasons why Elliott Wave theory can be subjective and the potential dangers of trading with it without sufficient knowledge and experience:WAVE INTERPRETATIONCorrect wave interpretation can come only after all possibilities can be dealt with. A single correct interpretation can be the result of weighing in MULTIPLE possibilities. Only after discarding same in order of evidence, can one come to the correct conclusion.Then again , what seems to be the ideal interpretation may be correct on a smaller time frame but may be wrong on a larger one and how to deal with such anomalies in fractals requires experience and guidance.EMOTIONAL BIASFlexibility is the key and one has to acquire it. This habit is boosted by experience and guidance. Attachment to ones wave counts and predictions can lead to emotional bias and wrong impulsive trading decisions. I have come across elliot wave practitioners who have experience but lack flexibility and therefore go wrong at the right time.LEARNING CURVEThe learning curve is steep and has a strong element of "Time " and "Mentorship" in it.

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