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AlphaWave Trading Review (www.alphawavetrader.com)
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AlphaWave Trading Review (www.alphawavetrader.com)

  #51 (permalink)
Market Wizard
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longboat View Post
You will get emails almost every day, not just from Alpha Wave , but from other vendors they sell your email address to. Red Flag.

Also, if you ever make the mistake to "Like" her on Facebook, you get tons of outdated useless half-ass charts to litter your FB for miles. I sent her a note to stop the garbage trail, yet it kept commimg. I reported her as Spam.

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  #52 (permalink)
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I totally agree with LongBoat. Alla risk to reward ratio is out of line. One loser will take out the profits from two or three winners. She never shows total number of profits made from those trades she posted as winners against losers. Guess that was the reason why the result page is no longer on her site. One thing I notice though, if I am not mistaken. If a trade is a winner it pretty much work in your favor soon after the trade is entered. But when the stop is reached half way of what is given, say 15 ticks stop and you are now down 8 ticks from entry, that pretty much is going to be a loser.

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  #53 (permalink)
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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,

Longboat

Longboat,


Thanks for the effort you put in to your review. Very comprehensive and I'm sure it will be appreciated by all who read this thread.

Sounds like things have changed since I was in the room. When I was there she called out both aggresive and conservative entries and announced them as such, but I don't remember any calls will any stops more than 2x target. I don't remember any belittling of room participants.

The advanced course was $499 when offered to me in May. I didn't take it so I don't know what was covered. It was mentioned for quite a while before it was offered and I just assumed it was waiting for price to be at one of her fib levels from a higher time frame chart before taking the trade on the lower time frame chart. When announced, the advanced course was spread out over 4 days so there must have been more to it that what I assumed.

Totally agree with your last comment about running a room instead of just trading. When I started with her I got the impression that she was trading this method herself and remember her interrupting one of our sessions to enter a trade. As things went on, and the marketing became more and more prominent, my impression changed and being the cynic that I am, I wonder if she trades anymore at all. Collecting fees from 65 people at $179/month is not bad.

As with all methods that require discretion, some will do well with this method while others won't.

Stymie

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  #54 (permalink)
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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,

Longboat

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.

quin2k

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  #55 (permalink)
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Once again, well done, Mike! It seemed like she had a publicist write the post.

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  #56 (permalink)
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quin2k View Post
Thank you. Longboat. I'm glad that I wasn't alone in thinking that Alla is dodgy and arrogant!

She most certainly was arrogant and condescending in an email exchange.

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  #57 (permalink)
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Alphe Wave

Hi Fellow Traders and you Longboat:

I could not disagree with you more regarding Alla and her trading methodology. I paid to learn her trading discipline and have never come across anything more effective. The piles of junk software and trailing indicators do nothing to help out the serious trader. You are doing everyone a disservice here by dissuading them from trying out the best of the best.

Ninety fine percent of her trade entry calls are clear and well defined. Occasionally, there is a slip up but that is inadvertent and not meant to deceive or mislead. Yes, her first targets are modest and her stops can be large but I cannot tell you the number of 40 and 50 tick winners that she calls that would have wiggled you out if you employed a tighter trailing stop. August is without a doubt the toughest month of the year to trade and she does an amazing job of keeping you out of chop.

Jonathan, her crude oil trader is a prodigy. He alone is more then worth the price of admission. He doesn’t call his trades out loud and I think he should but his trading entries are clearly posted because he uses Ninja’s chart trader. Last week he called a 90 tick winner and this week a 75 tick winner on crude oil. Gimme a break here, this man is an amazing trader. To call the trading room a marketing tool is nothing sort of ridiculous.

One more thing, the trade example you are citing on the 6E, where she had a 4 tick target and an 18 tick stop never occurred. If she is trading an 8 range, your entry will be one tick above the target candle with your stop one tick below; that’s a max of 10 ticks. How you arrived at 18 ticks on an 8 range entry candle is beyond me.

Alla herself is a no nonsense balls to the wall lady. If you ask a stupid question she raps your knuckles! Is she tough sometimes, yup! But is she brilliant always, yup also! She doesn’t mollycoddle you and that’s what some traders went. But that’s not what they need. They need a call to action. Not the, “poor baby” approach but the, “get real and get smart” call to start studying approach.

During her training sessions she BEGS her students for homework. Just more work for her but exemplifies her dedication. She wants to turn out successful traders. She answers questions via e-mail and is totally accessible by phone which she oftentimes picks up herself. No secretary to wall her off from her students. No need, because of her track record.

I still have my Seven Summits Trading Software (Pro Version). It’s a pile of junk. Forget the $1,499.00 I paid for it. In a choppy market it will put you in the poor house just like every other “break out” software system. But Alla’s trading method protects you big time. The numbers speak for themselves; 80 people in the trading room, 50 people in the educational room.

I encourage everyone to check out her trading room. It’s a free ride. Her methodology isn’t for everyone because it’s difficult. No buy on greed dot, sell on red dot here. Just no nonsense trading methods that if mastered will take you to the next level.

Andrewrunners

ANDREWrunners
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  #58 (permalink)
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Alpha Wave

He dude. don't knock it, till you've tried it! And I am a born again capitalist!!!

ANDREWrunners
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  #59 (permalink)
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Alpha Wave

The point I was trying to make here is that if you have the ego of an egg shell, go buy some software. Alla isn’t out to give you psychotherapy or hold your hand she is out to make you money. And she is amazingly ethical.

ANDREWrunners
FIAT VOLUNTAS TUA

Last edited by andrewrunners; August 17th, 2012 at 12:29 AM.
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  #60 (permalink)
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andrewrunners View Post
The point I was trying to make here is that if you have the ego of an egg shell, go buy some software. Alla isn’t out to give you psychotherapy or hold your hand she is out to make you money. And she is amazingly ethical.

Yea I know, I am not talking about hand holding or ego. I am talking about her treating a member with no respect. A member that was correct when she was in fact wrong! Here is what happened last week. She called a long on 6E out with a 4 tick target. The trade was offered at the target but it was never bid there. Alla counted it as a win anyway. I was in the trade and never got a fill to close. Another member in the room posted that he was still in the trade. Alla jumped all over him! She ripped him for not knowing the rules and that he is not paying attention and that we are already out of that trade. If you want to be a successful trader you need to follow her...It went on to be a loser of 12 ticks by the way. The member was correct! He did not deserve to be belittled in the room when in fact Alla doesn't understand bid and ask or that there can be orders ahead of you. Just because it hits her little fib tool target line doesn't mean you get filled. If she was at least trading a sim account she would have known that, but maybe that is the reason she doesn't sim so she can count those fantasy fills as winners.
I know you spent $3,000 for the course and I am glad you are making money with it. I don't approve of her arrogant commentary when people make comments that is all. I would prefer to see Jonathan trade CL.
I don't know if she sent you here to defend her method since Big Mike rightfully deleted her ridiculous post, but with only 10 posts in this forum your recommendation of her method doesn't carry the clout of others that have been posting in here for years.
Good luck. My review of the method stands -with pros and cons.
Oh and Quin2k I believe she is just trying to catch the third Elliott Wave sequence most of the time on the 8 or 13 range charts, nothing magical.

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