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AlphaWave Trading Review (

  #69 (permalink)

Elite Member
Boise Idaho
Trading Experience: Intermediate
Platform: ninjaTrader
Broker/Data: Amp / CQG
Favorite Futures: ZB
Posts: 28 since Dec 2009
Thanks: 34 given, 20 received

I've been a members of Big Mikes since 2009, (thank you Mike, your forum is the bomb!) and I've been a member of Alpha Wave Traders since March of this year. I'm not paid by AWT nor am I affiliated with them, other than being a paying student. Nobody sent me here to post. I'm doing this because I believe in the Alpha Wave Trader system. AWT is not for everybody even though it is simple enough that anybody could learn it. It's been mentioned here that if you just stayed in the trading room long enough that you could / would figure it out. That's almost true. You will get the jist of AWT, as I did, but you will not learn the entry rules! They are simple but some of them are very subtle and they are what makes AWT work so well. Those come with the course.

After three trading rooms, most of which was wasted money, losing money trading in those rooms (That really was wasted money), I said I would never spend any more money on trading rooms or expensive indicators again. I put together several winning indicator based trading systems (Thank you again Big Mike's) that worked for awhile, until the market changed or a new version of Ninja Trader came out that killed my indicators and ended those systems. After watching AWT as stated above for a couple of weeks, I joined AWT simply because I was tired of relying indicators to tell me what was going on. I've never been good at reading the market or trading patterns as they were developing. In hind sight, I'm the best trader in the world but as the bars are being printed on the charts, not so much. I wanted to change that and I could see that the AWT system would give me a leg up on understanding price action. It has. I've not regretted spending the money or the extra money to be in the continuing education room. Jonathan's CL trades pay for that. The Advanced Trading Course ($499) was a no brainier. One trade could make that back for you easily.

Alla is very European (and Russian?) in her teaching methods and demeanor but I've had friends from eastern block countries that escaped to the U.S. and they spoke and acted the same way. Sometimes there is a language problem. The words and phrases I use are not normal to her and vise a versa. Sometimes, I've seen her get frustrated with questions in the Trading Room when people are trying to get her AWT secrets. She has asked the students in the Education class after dealing with an obnoxious person or two what she should have done and they have always been supportive of her. Personally I think that she should have removed a couple of more people that were being very disruptive, so everybody else could get back to trading. For the most part, I think we are talking about cultural differences and a harder edged teach philosophy that is old school. I believe that Alla has a good heart and she truly wants the best possible outcome for her students. She does spend extra time with those students that put forth the effort to learn the system, but if you slack off, you get no sympathy from her.
Alla states up front that the hardest way to trade her system is with 1 contract. Buyer beware. Anybody that's been in her trading room has seen the pop-up's that give her rules about trading. She repeats them verbally many times a day. If the newby chooses to ignore those rules, or if they are just learning but trading real money, well they are going to learn a valuable lesson, just like you and I have in our pasts. If you take the aggressive trades that she calls in the trading room, there are going to be stop outs. In fact, we all know there will always be some stop outs. The AWT course teaches you the rules that separate the the high percentage trades from the riskier trades and if you only take those high percentage trades, your profits are much better. Those are the trade I shoot for. I still have loosing trades but most of them are due to the fact that I'm not concentrating (multi tasking), I let my emotions get the better of me or I didn't apply the AWT rules correctly. 90% of my loses are my fault.

A few of the other mentioned problems:
Small profit targets: Use longer term charts for bigger targets. AWT works on all charts.

Big stops: All of the systems I've seen for sale lately have huge stops, 20-30 tics, far bigger than Alla's if you compare. Her smaller stops were a positive point for me when I bought the system.

Kick backs: Every room I've been in has kick backs for bringing in new students.

Alla doesn't trade live: How many rooms does that really happen in? Lots of Sim trading going on in other rooms, usually with one market at a time, but with as many people asking questions of her while she is trying to watch the charts, read the text questions and point out trades, it would be impossible.

Win / Loss trade count: I know there is a question about this. I've seen trades called that I know I couldn't have entered in time. I don't know if her count is accurate or not. I don't keep track. I don't take a lot of trades she calls either. I'm looking for low risk trades and most of the trades in the room are "aggressive", higher risk trades. Now that her percentages have been questioned, I'm thinking she will have someone double checking for her because that's how she is. All I really know is, when I was thinking about joining and I was keeping track of trades and Profits, she had a lot more winners than losers. The bottom line profits were very impressive.

Students that teach: Every room I've been in have student teachers or student helpers. AWT students that can teach AWT, prove that her system works. If it didn't, they wouldn't be teaching would they?

Not all of the trades are called in the trading room: Most of the trades ARE called in the trading room for the three markets Alla is watching. The exceptions are the Advanced trades and other trades that the students themselves see and call in the Education room which can be in any market, not just the markets Alla is watching. The CL trades are also shown on charts in the Education room.

Talking about off trading subjects: I believe that Alla thinks of us as part of her family. She shares a lot of "stuff" when the markets are slow. Personally, quick pictures or subjects are ok but then lets get back to trading. I do not listen to most the chatter in the trading room or the EDU room during trading hours but I keep the AWT charts up on the monitor, listen for called trades in either room and scan the typed texts from the other students from time to time for trade setups that are coming up or ones I might have missed. If I listen to the chatter, I get distracted and that kills my trading concentration. That's just me. I'm one of those "Ghost Members" that doesn't talk much. If I can make a quick comment that will help another student, I will but sorry, I'm not there for talking, I'm there for learning and trading and I never miss an education class (I have a lot of bad habits to break).

The Alpha Wave Trading system is like every other system that is available, the system and it's teacher has to fit your personality. If it doesn't, it will never work for you. There are short cuts that you can take to limit your risk, but they will also limit your income. I like a bigger target and because of the lower risk trades I take, I have a tendency to push the first target out past the standard AWT 1st profit target a little. I run my stop a little closer too, because I have to. For me, most of the time, it works but when my account is where I want it to be, things will change and I will stick to the rules I have found out the hard way, take ALL of the low risk trades regardless and you will be big winners in the long run.

For those of you that think this is a scam, I've been watching and trading the commodities markets since 1976 when I started drawing my charts on 20 X 30 in. grid paper and figuring my fib numbers with my engineering slide rule. In 36 years Alpha Wave Traders is the best thing I've found that is understandable and more importantly, Easily Trade-able. Wished I had this back then.

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