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AlphaWave Trading Review (

  #31 (permalink)

Elite Member
Trading Experience: None
Platform: NT
Posts: 10 since Jul 2010
Thanks: 5 given, 33 received

longboat View Post
Stymie thanks for fielding questions! I went in the room for one day after a webinar and didn't go back because I thought a few times she was calling out the entry after it had already moved ( like another room I was in did). I doubt you could have got her fill in the room all the time. I get the impression from you that the method is legit and ...

1. maybe if we study the 8 range chart she uses it might give me a heads up on when to be ready for her price? She does give a warning, but it is still possible to miss it.

2. The inverse risk/reward ratio put me off some. One of her trades hit Target One and then stopped out for an overall loss, but it shows up as a winner if you just look at the winning trades column. You think I could cover the cost of the room and make some money trading one contract to start? Could I get enough fills is my question?

3. I understand she has to make her levels "secret" or you could just use the Ninja tool, but she can't change them too much or they won't be Fibonacci, probably close?

She did say she doesn't trade live when she is moderating 2 rooms at once. Combine that with the constant emails to buy and watch her partner webinars and you can see why I was put off. I wouldn't pay anyone 3k again for education, but it seems like you didn't need the education package to make money, so I may give the monthly room a shot based on your comments, (thanks in advance, we'll see what you say). If you stay in the room long enough you will pay more than the education package! I guess I am figuring that you could have figured it out before that crossover of expenses happens after 18 months of room fees.

If the market is moving quickly, it can seem like the calls are coming after the fact. No need to worry because if you miss an entry, there will almost certainly be another a bit later. Since there are no indicators used, entries are based on candles, and since you are using range bars, you will know where the bar will end so you can place your entry (using stop orders) before the candle closes.

Studying the 8 range chart will help. If you mark your chart with her entries and stop levels and look at enough of them, you should be able to figure it out.

She uses a good MM system and if you follow it you should never lose $$ on any trade that reaches target one. You peel off most of your contracts at target one so the only way to lose would be if you got really bad slippage on your remaining stops. In my experience, the only trades that lost were the ones that never made target one.

The inverse risk/reward issue does exist. How much importance you give it depends on your style. Target one on an 8 range chart is 8 ticks and the stop is 9 ticks. If you front run the target (recommended) then you risk 9 ticks to make 7. The positive expectancy of the entries is enough for me so that I am not worried about the risk/reward issue.

Based on my experience, I stand by my belief that someone can easily cover the cost of the room each month and earn enough that they could (by increasing contract size as their account grows) earn the education fee within 6 months. Though by that time some will have figured things out and not need to take the education. Even by starting out trading only one contract.

The target levels are fib based. I've never been a fan of fib levels as sometimes they are respected, mostly they're not. I don't use her targets because of my lack of confidence in fib levels. Draw enough lines on a chart and one of them will mark a turning point. Instead I just trail my stop.

When I started with her, I thought she made most of her money trading. I really wanted to learn how to trade waves (don't know why I was so obsessed with waves) and her fees were much lower back then so I signed up. As her business grew, it became more and more like other educators and after a while I came to the conclusion that they're not really any different from the other setups out there that make their money on education and room fees rather than on trading. This is reinforced each time they sell my email address to other educators/mentors (I got 2 emails from them touting other educators this week alone). I've never been able to figure out why, if their method is so good, that they want us to look at other methods too. Their business model seems to have changed since I started with them. Their method seems sound, but their business practices don't appeal to me. If they charged a fee that just covered the cost of a seat in their webinar room, I would still be with them, but after paying them for the education, I don't like the idea of them making a couple hundred bucks off me each month for the privilege of hearing her speak (even though she does sound like a wonderful person).

If I knew then what I knew now, I would not have paid for the education up front, I would have stayed in the room, paying the monthly fee, until I earned enough to cover the course fees. I may even have figured it out by myself.


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