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AlphaWave Trading Review (

  #54 (permalink)

Elite Member
Wellington, New Zealand
Trading Experience: Advanced
Platform: Ninja Trader, MetaTrader
Broker/Data: AMP
Favorite Futures: CL,ES,FDAX
Posts: 9 since May 2010
Thanks: 60 given, 32 received

longboat View Post
My 1 week trial ended. I agree with Mervyn and Quin2k's comments. I have found pros and cons. After having emailed with a few members I believe that the method is legitimate and profitable! When Alla lost her voice and her other moderator Jonathan was calling trades. He was very clear and profitable trading oil. He provides commentary in the education chat room and the members seem to be doing very well there. You can not gain access to that room without spending 3k for the education. You must also pay a monthly fee to remain in that room. She does not call trades on CL. People in the room varied from 65-85 participants.
Now about the main room Alla calls trades in: I agree she is not always clear about her entries. Friday she took 2 losers on the NQ back to back. Targets were 4 ticks to target one and both stopped out with 12 tick losses! She says she called another trade but she never did! She just said we are in a trade and it hit target one! No way anyone got that trade. When anyone in the room questions her on anything, whether it is a call or a fill she gets right in their face and tries to make the person feel silly. Red Flag! She has conditioned people not to ask questions or you will be intimated.
She does not trade her own account. She does not trade in sim! Red Flag. She only uses her custom fib tool to draw lines and targets, so you never know if she would have filled at her entry or exit.
In the method there are aggressive entries and conservative entries. She calls everything, but mostly aggressive entries because she says if she just called the aggressive entries there would not be enough entries to keep a chat room going. Problem is that her risk reward is insane! The aggressive trades have anywhere from a 2 tick to 5 tick target, but her average stop was 10-18 ticks! One trade she called during the week on 6E had a 4 tick target and stop was 18 ticks! Two members I emailed with said they never use her stops or targets!Bottom line is her stops are almost always 3x- 4x the first target. In my opinion you will never make money with that money management strategy. One loss will wipe out 4 winners. You would have to be right almost every trade. Red Flag!
After paying 3k she will try to get you to spend more money to take an advanced course to get the best trades. I have no idea how much that is. Red Flag.
The results on the website are very misleading. Red Flag. It counts the winners (pretty sure you wouldn't have filled all) and losers. No net profit. No mention that the stops are 3 times the winners. She says take all off at first target if you are trading 1-2 contracts, go for target two with the third. On 3 or more it is possible to hit target one and still lose because she usually keeps her stop far away when she trails it.
Bottom line the room is just a place to promote buying the education. Can you make money in the room? Hmm maybe, but not much. Would I pay 179/mo? No way. I must say I can't tolerate her self promoting arrogant commentary in the room. She talks to the room participants as if they are a kinder garden class. Very child like. She asks for questions but won't disclose anything and tries to embarrass the member who asked the question. Most times that I saw the question was a very valid one. Red Flag!
The way the marketing is very shady. You will get emails almost every day, not just from Alpha Wave , but from other vendors they sell your email address to. Red Flag.
Would I spend 3k for the course? No way I have spent that before. I never will again, especially based on all the red flags. Surprisingly enough I might spend half that, to learn it on CL but since she has already raised the price many times that will never happen.
If you have a great method why wouldn't you trade it live? Would you really prefer spending 3-6 hours a day running a room and educating when you could be trading? I just don't believe that she enjoys educating that much! Seriously?
This is getting long, but if you have any questions reply here and I will answer them.
Good luck,


Thank you. Longboat. I'm glad that I wasn't alone in thinking that Alla is dodgy and arrogant!

In view of the large stops and small targets, I suspect that her system is designed for a trader to hop on board at the start of the "A" wave of a correction (hence the name; alphawave) , in the hope that the trade eventuates into a ride that would take the trader to the end of the "C" wave of the correction, or better still if it turns out into a W3 if the suspected correction turns out to be impulsive.


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