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AlphaWave Trading Review (www.alphawavetrader.com)

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  #161 (permalink)
west palm beach
 
Experience: Intermediate
Platform: ninja trader
Trading: gold
 
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I have been trading for many years with a fair amount of success. I primarily trade Gold and Emini Futures and occasionally Forex. About six months ago I started to expand my knowledge by attending, with a healthy degree of skepticism the webinars of The Fibonacci Trading Institute hosted by Alla Peters. Occasionally I visited her Trading Room. I was both intrigued and confused.

After a reasonable amount of procrastination, I recently took the plunge and enrolled in her Mastery Class. While I have only been her “ student” for two weeks I am totally enthralled. I attend every class as well as well as every session of the Daily Trading Room. I am spending hours studying the videos and modules. While I’ve just begun to scratch the surface of available material, I am amazed by what I’ve learned – including how much of what I’ve done over all these years was “ misguided”. Her teaching how to maximize profits by knowing when to walk away and NOT trade is a new skill for me!

Her system is clear and concise but takes dedicated work and practice. In my opinion it is for serious minded individuals who wish to truly learn how the markets work, and how to capitalize on realistic opportunities. For those considering expanding their trading skills this is an honest and viable approach. Less experienced traders may even have an advantage as they don’t have to overcome years of accumulated “ bad habits”.

I am happy to state that the cost of this program is the best investment that I have made in a very long time!

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  #162 (permalink)
Los Angeles, California, United States
 
Experience: Advanced
Platform: ThinkOrSwim, Ninja Trader
Trading: Futures
 
Posts: 115 since Aug 2013
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peterg View Post



Nothing special here...move along.. you can find Alla Peters videos on Trader Kingdom for free.

Compare the above charts with the video, with the ES she uses candle bodies on primary wave... with Cl uses a wick and a body on the 4th wave.

Fibonacci levels on ES, TF, and CL - Trader Kingdom

She uses a basic fib retracement tool in reverse to project basic fib extensions 189, 262, 360, 460 & 560 from the candle body closes of primary wave (read "Alpha Wave".) In other videos a 162EXT and 200Ext are used.

Regardless, She renames/claims them as "Decision PT 1&2" and "Danger Zones 1&2" and some times 3.

This is a regressive/backward technique using a two point retracement tool to give essentially external retracements ...it works and is more quickly accomplished than using an fib extension which requires 3 points to be picked projection and is more progressive and easier to follow and accounts for the retracement depth of the last wave... "Simple" as she often says. To which I say not very dynamic, let alone exact

But is it for speed or mystery? And why rename something to make it proprietary, or again mystery?

And why truncate price action / target projection by using time based candle closes instead of including the wicks?

This is in direct conflict with her "Pure Price Action" approach as well her insistance on using range candles as well as fib candle range sizes 8,13,21.

Time Candle closes are determined by TIME not Price, however she never discusses Time Projections/ Expirations in her wave analysis.

Her nomenclature is less than standard which also adds to the confusion or better ( Mystery.)

She uses "Major trend" and "Minor trend" and how a "retracement" is not a "correction" or a "reversal"

I dont know maybe a retracement is a minor trend and a correction is a reversal or a retracement or both. However don't ask for a clarification....That'll set you back 3K and way too much personal patience

What are the so-called decision levels? How would you plot them?

Thank you.

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  #163 (permalink)
west palm beach
 
Experience: Intermediate
Platform: ninja trader
Trading: gold
 
Posts: 5 since Mar 2019
Thanks: 0 given, 3 received


I am curious as to what the purpose of your post is and as to where you received the information on which you base your analysis. Have you take a course at the Fibonacci Trading Institute? If you have, then I just don't comprehend what you are saying. If you haven't, then I would respectfully suggest that one can not comment credibly-either pro or con-without having first learned the methodology. A mere cursory review can only lead to confusion.

I am a graduate of her program and trade her methods daily--and I just don' t find the system to be anything like what you describe.

As just one specific response to your comments - it is not accurate to say that she insists on utilizing range charts. The program utilizes both range based candles and time based ones. In my 6 plus months in the program I have not heard of a preference for either approach in short term trading. Obviously investments, as opposed to trades, cannot possibly be based on short term range charts. In my day trading I primarily utilize no gap range candles - after first analyzing price action on two specific time based charts. I learned this approach from the course., and it certainly works for me!

I have been trading for over 20 years and I have spoken with many other graduates and program participants. Following the system, which of course requires great discipline, produces a VERY favorable ratio of successful trades. But, it requires work and serious application of the " rules"

I am also curious as to why you attach charts that appear to be approximately 6 years old.

I look forward to your response.

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  #164 (permalink)
Site Moderator
Sarasota FL
 
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billk2246 View Post

I am also curious as to why you attach charts that appear to be approximately 6 years old.

I look forward to your response.

@billk2246, the post you are responding to, by @john5, is itself a response and a question to an old post he is quoting in full from 2013 by @peterg, shown in the quote box that takes up much of his post. It's @peterg's charts and his comments from 6 years ago that you have questions about.

Sometimes a user will go into an old thread and, not realizing how old the entries are, will post a question to something he just read, thinking it's part of a current discussion. Then it may not be clear to another user where the original post came from or when it was made. It looks like this is what happened here.

If you click on the small white arrow within the colored box containing the quoted user's name, @peterg, it will take you to the original post, from March 21, 2013.

I don't know whether ether you or @john5 will get your questions answered at this late date.

Bob.

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  #165 (permalink)
Los Angeles, California, United States
 
Experience: Advanced
Platform: ThinkOrSwim, Ninja Trader
Trading: Futures
 
Posts: 115 since Aug 2013
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bobwest View Post
@billk2246, the post you are responding to, by @john5, is itself a response and a question to an old post he is quoting in full from 2013 by @peterg, shown in the quote box that takes up much of his post. It's @peterg's charts and his comments from 6 years ago that you have questions about.

Sometimes a user will go into an old thread and, not realizing how old the entries are, will post a question to something he just read, thinking it's part of a current discussion. Then it may not be clear to another user where the original post came from or when it was made. It looks like this is what happened here.

If you click on the small white arrow within the colored box containing the quoted user's name, @peterg, it will take you to the original post, from March 21, 2013.

I don't know whether ether you or @john5 will get your questions answered at this late date.

Bob.

I saw that it was an old entry, but I just wanted to know how he has come up with those two charts that he posted. They don't seem to match her plots.

The topic still seems to be current. The fibs are popular and they have been at the core of my trading strategy for a very long time. I'm naturally curious, because who wouldn't want to learn something knew? But it is challenging to understand if her technique is any different from what I have been using.

She doesn't show how she plots the levels and what those levels are. There is also no verified track record of her actual trades. If her technique is so revolutionary, she has invented it, right?...then why charge people $8K for it? She can make that in 15 minutes trading the cash open every day. I mean, if she is so great, there is no limit to an ammount of money she can make. Why spend so much time on youtube videos, webinars, etc if she can make a lot more money just trading?

So not doing that and choosing to "teach" instead would be like a person who claims to know how to win every lottery or a lot of them, but then saying something like, "Nah, I have a "passion" for teaching how to win a lottery and I'm gonna charge you a lot of money for it, and you go ahead and win all those lotteries, but I am good with a lot less than I can win myself.

It just makes no sense.

It seems the reason she does not show the levels and how she plots them is simply because if she did, she wouldn't be able to claim that she has invented this method, because everybody would see that it is nothing new. Maybe her rules are unique and good, but not showing the levels and claimining to invent how to plot the fibs, does not pass my smell test.

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  #166 (permalink)
desert CA
 
Experience: Intermediate
Platform: NT7, TOS, CQG-trader
Broker: AMP, DT, TDA
Trading: CL,NQ,YM
 
Posts: 2,130 since Jul 2011
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john5 View Post
So not doing that and choosing to "teach" instead would be like a person who claims to know how to win every lottery or a lot of them, but then saying something like, "Nah, I have a "passion" for teaching how to win a lottery and I'm gonna charge you a lot of money for it, and you go ahead and win all those lotteries, but I am good with a lot less than I can win myself.

It just makes no sense.

I attended her trial trading room for a week just for fun. Jaded as I am now, I quickly could tell she probably didn't trade at all, and it was just a vague ad session to sell her 8k package, while blabbing about Ackerman and 'mixing with impressed hedge fund managers' like she was some socialite. Nothing clear, no entries in fact, just claims of wins after a few hours. Then saying her fib methods are special when there are hundreds of fibs and elliot wave gurus out there already.

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  #167 (permalink)
Los Angeles, California, United States
 
Experience: Advanced
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Trading: Futures
 
Posts: 115 since Aug 2013
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Cloudy View Post
I attended her trial trading room for a week just for fun. Jaded as I am now, I quickly could tell she probably didn't trade at all, and it was just a vague ad session to sell her 8k package, while blabbing about Ackerman and 'mixing with impressed hedge fund managers' like she was some socialite. Nothing clear, no entries in fact, just claims of wins after a few hours. Then saying her fib methods are special when there are hundreds of fibs and elliot wave gurus out there already.

I'm pretty sure that her method works for those that have never used fibs before or don't know how to use them properly. In other words, it works for newbies. So all those positive reviews and testimonials might be true because they don't disclose their prior fibs using experience/knowledge.

That said, to provide value for someone who is not a complete beginner, hiding plots and making extraordinary claims without any proof is a non-starter.

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  #168 (permalink)
maui
 
Experience: Master
Platform: NT, TWS,TW
Broker: IB.AMP.CQG.DTN
Trading: Currency, Futures, Options
 
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billk2246 View Post
I am curious as to what the purpose of your post is and as to where you received the information on which you base your analysis. Have you take a course at the Fibonacci Trading Institute? If you have, then I just don't comprehend what you are saying. If you haven't, then I would respectfully suggest that one can not comment credibly-either pro or con-without having first learned the methodology. A mere cursory review can only lead to confusion.

I am a graduate of her program and trade her methods daily--and I just don' t find the system to be anything like what you describe.

As just one specific response to your comments - it is not accurate to say that she insists on utilizing range charts. The program utilizes both range based candles and time based ones. In my 6 plus months in the program I have not heard of a preference for either approach in short term trading. Obviously investments, as opposed to trades, cannot possibly be based on short term range charts. In my day trading I primarily utilize no gap range candles - after first analyzing price action on two specific time based charts. I learned this approach from the course., and it certainly works for me!

I have been trading for over 20 years and I have spoken with many other graduates and program participants. Following the system, which of course requires great discipline, produces a VERY favorable ratio of successful trades. But, it requires work and serious application of the " rules"

I am also curious as to why you attach charts that appear to be approximately 6 years old.

I look forward to your response.

I gave very specific examples of how Alpha uses fib projections in HER real world examples if you don't follow my details of how the are generated and from what points she specifically used to generate them I am sorry. If you would like to learn from me I can do that. But first why don't you school me as to her CURRENT methodology of fib projection; perhaps they have changed, perhaps not.

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  #169 (permalink)
maui
 
Experience: Master
Platform: NT, TWS,TW
Broker: IB.AMP.CQG.DTN
Trading: Currency, Futures, Options
 
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Posts: 122 since Mar 2010
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john5 View Post
I saw that it was an old entry, but I just wanted to know how he has come up with those two charts that he posted. They don't seem to match her plots.

The topic still seems to be current. The fibs are popular and they have been at the core of my trading strategy for a very long time. I'm naturally curious, because who wouldn't want to learn something knew? But it is challenging to understand if her technique is any different from what I have been using.

She doesn't show how she plots the levels and what those levels are. There is also no verified track record of her actual trades. If her technique is so revolutionary, she has invented it, right?...then why charge people $8K for it? She can make that in 15 minutes trading the cash open every day. I mean, if she is so great, there is no limit to an ammount of money she can make. Why spend so much time on youtube videos, webinars, etc if she can make a lot more money just trading?

So not doing that and choosing to "teach" instead would be like a person who claims to know how to win every lottery or a lot of them, but then saying something like, "Nah, I have a "passion" for teaching how to win a lottery and I'm gonna charge you a lot of money for it, and you go ahead and win all those lotteries, but I am good with a lot less than I can win myself.

It just makes no sense.

It seems the reason she does not show the levels and how she plots them is simply because if she did, she wouldn't be able to claim that she has invented this method, because everybody would see that it is nothing new. Maybe her rules are unique and good, but not showing the levels and claimining to invent how to plot the fibs, does not pass my smell test.

This only relates to PRICE. Simple stuff really, why shroud it in mystery. When we start applying this to VOLUME VECTOR, ORDER FLOW, C DELTA: that's next level stuff, worthy of examination and potential implementation. Its important to build on what you learn .........especially if one has spent 8K on it.

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  #170 (permalink)
west palm beach
 
Experience: Intermediate
Platform: ninja trader
Trading: gold
 
Posts: 5 since Mar 2019
Thanks: 0 given, 3 received


you stated: I gave very specific examples of how Alpha uses fib projections in HER real world examples if you don't follow my details of how the are generated and from what points she specifically used to generate them I am sorry. If you would like to learn from me I can do that. But first why don't you school me as to her CURRENT methodology of fib projection; perhaps they have changed, perhaps not.

I am sorry - I must have been mistaken

I thought that the purpose of this site was for SERIOUS traders to share serious information. Before I return to that goal I will instead share 5 minutes with you.

You didn't respond to any of my questions-e.g. her supposed insistence on the use of range charts. Why dont you check out all of her videos on Utube--do ANY of them even mention range charts?

I like to learn from anyone who has something serious to share--It appears to me that you are here to criticize and to ask for others to share with you the course material they worked very hard to understand, to learn, and are utilizing for the sole purpose of making money ( which I do EVERY week ).

Rather than debate you , I prefer to do something constructive--instead I shall go to the the replay of my 2 trades that lost money last week- and see what I did wrong --then I will go to the replay of the 7 that made $ - and see if I did something correctly or just got lucky.



As for you - well, your 5 minutes is up!


For those who wish SERIOUS information on this topic, check out her free site on Utube - you may like it or you might not-but either way, it deals with fact not fiction

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