AlphaWave Trading Review (www.alphawavetrader.com) | Trading Reviews and Vendors


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AlphaWave Trading Review (www.alphawavetrader.com)

  #129 (permalink)

Trading Apprentice
Toledo, OH
 
Futures Experience: Advanced
Platform: NinjaTrader, proprietary API for TWS
Favorite Futures: NQ, YM, ES, FOREX
 
Posts: 41 since Nov 2012
Thanks: 16 given, 44 received

One trick pony

Hello,
Keeping the traders helping traders philosophy in mind, I thought I would post something more than just a critique.
Yes, she is slick and has built up a good sized room in a small time for doing very little. Comments from others during her webinars range from typical newbie wonder of fibs to guys drooling on Ukranian(?) accent. They obviously have not been hustled before.
The entry is simply a double top/bottom or a W/M style reversals. She enters after the first wave, at the point where a pivot is taken out and sets the first of 3 targets at a symmetry end of an ABC pattern. This by definition has an inverted rr. When the waves develop from a minor abc to a full fledged 5 wave pattern, the other two targets are set at fib numbers for wave 4 and 5 (generally around 261 to 361 levels). This she calls danger zones. How cute!
This is a valid entry for price action and its also in every price action based text ever written.
Folks are getting sucked in by the mystery she creates when she draws using her magic fib wand, not knowing that the tools are free and so is the setup. The trade mgmt is weak and the entry is too sparse to be a full trading system.
You may make up your own mind about her personal brand of ethics regarding her winner/loser tally.
Hope the post helps atleast 1 futures.io (formerly BMT) member before he/she squanders hard earned dollars.
Thanks!

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