I just took the $9.99 trial. They did not give out many trades each day. Saying Aug is a slow month and big traders that move the market are on vacation and not trading. Here is the problem I have. After the trial it cost $179 each month. From what they said people who are in the education room (those who paid for their program) get more trade signals than those who is in the regular trading room(those who pay $179 per month or on $9.99 trial). I remember one day in the trading room they called out a couple of trades-one winner and one loser. Since their stops are normally bigger than their targets so you will end up on the downside that day. Then they said people in the education room had 6 trades in NQ and they were all winners and hit the targets. See the problem here if you want to sign up to be in the trading room. I myself is interested in the program but have to research more before shoving out the $3000 plus. They gave out a free webinar on this Wed and they said they had 3 trades in NQ all winners and hit targets. I remember that day very well. We had one trade in NQ in the trading room and it got stop out right after we entered but no mentioning about the losing one.
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Thanks for your updated input. Sounds like things have changed since I was in the room. Back then the calls were made in the regular room and the education room was used to discuss the trades in detail. I never would have thought that some trades would only be called in the education room. This new setup seems kind of sketchy to me.
I will rescind any recommendations I have made in prior posts.
I am 2 days into my trial and it doesn't appear that that is the case Mervyn. It seems that in the other chat room students are posting their trades on other instruments like CL for example that she is not calling out in the room. The stats on the website only include the TF, NQ and 6E which she is trading and moderating. I think there is another moderator in the education room too or at least he posts his CL trades there, but not sure since I can't see it.
I'll keep you advised of what I see. Today there was a loser on NQ, 2 TF winners and 2 6E winners.
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My trial in the room ended last Thursday. During my trial it was someone named Jonathan calling out trades in the trading room because Alla (the creator of Alpha Wave) lost her voice. If she is back with her voice then she might have given out more trade signals in the room. Jonathan did mention that he mainly trades CL perhaps that was the reason why we were not given more signals. I remember the day when Alla said (she was not talking but typed into the chat) people in the education room had six trades on NQ (all winners) vs one NQ trade in the trading room. Someone in the trading room did ask Alla would being in the education room get him more signals than those in the trading room and Alla said yes. If trades were called out by students learning in the education room then there was no reason for Alla to say education room had more trades than trading room. If I were to pay her $179 a month I feel I should get every single trade that she or Jonathan calls out. If being in the education room entitle me to more trades then I should not have to pay her $179 each month for the room but to purchase her program instead because that would get me into the education room. Of course, if I buy the program then I will just learn how to do it myself so I would not care how many trades they call out in the education room. But for someone who pay $179 for the trading room and not get the same trades in education room( suppose she is the one who calls out trade in the education room) then I think it is wrong. Keep us inform of your remaining trail, LongBoat.
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I've been in her room many times over the past few months on "free" days that she gives out to entice people to join fulltime. Jonathan trades CL and does so in another room. It's never been clear to me how many rooms she has going at once but she definitely has more than one room going at a time and she will move and converse between the rooms - she makes no secret about this.
I'm not sure how the vendors of Alphawave got a hold of my email addresss, nevertheless, my 1 week trial ended on Monday, 08/06/12 and these are my observations:-
(Note: As I'm in the southern hemisphere, my time in the trial room was limited to the first two hours of the open i.e. 9.30 to about 11.30am EST)
1. I have to agree with the bulk of Mervyn's comments. I observed during the one week trial, which was hosted by Jonathan, that he took an average of perhaps two/three trades during the first two hours. Jonathan was however was very clear in specifying the entry and stop levels. I can't say the same for Mdm. Alla though, who hosted the trial room on Monday, 08/06. Regrettably, I did not record Jonathan's calls.
2. From observing Jonathan, it was obvious that he used the the retracement tool to both isolate an entry and to assess if "Danger Levels 1 & 2" were achievable before calling out the trade. As 8tick range bars are used, their entry is based on the high/low of the entry bar, +/- 1 tick for stop placement.
3. These are the numbers that I recorded from a 13 tick chart for CL:
STOP - 90.81 + 1
ENTRY - 90.68
Danger Lev 1 - 90.60
Danger Lev 2 - 90.55
Danger Lev 3 - 90.46
Danger Lev 4 - 90.37
It shouldn't be too difficult to figure out the fib ratios that they use I have some snapshots but I'm not allowed to post them yet.
4. Monday 08/06/12 - room was hosted by Alla and these are the trades (for the first two hours) that I recorded:-
NQ - Short 3 @ 2685.50 and stopped out 3 @ 2689 (-10.5 ticks)
TF - Short 3 @ 793.1 - DLev 1 hit @ 792.90 (+2 ticks)
- DLev 2 hit @ 792.50 (+ 6 ticks)
- 3rd contract stopped out @ 794.50 (-14 ticks)
Note: Short @ 793.1 was later moved higher to 793.4 by the moderator!
TF - Long @ 792.9 - DLev 1 hit @ 793.50 (+ 6 ticks)
- DLev 2 hit @ 794.30 (+ 14 ticks)
- 3rd contract was runner held past 11.30am EST.
6E - Long @ 1.2392 - DL 1 hit @ 1.2401 (+ 9 ticks)
- DL 2 hit @ 1.2049 (+ 17 ticks)
- 3rd contract stopped out @ 1.2390 (- 2 ticks)
As is to be expected, there was quite a bit of selling by the moderator, but one particular comment irritated me i.e. that she'd spent 40,000 hours developing the Alphawave system! Assuming a 16 hour day, that equates to 6.8 years! Even my grandkids would find that hard to swallow!
Would I spend $179/month for a subscription to her guest room? NO! What about $3,300 to learn her Holy Grail system? NEVER!
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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.
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