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I do not remember you from the Education/Trade room. Did you purchase the system and are you a member of the Education room?
I question that you have taken 412 live trades and are profitable in your cash account--especially if you use the money management that Alla teaches. Since I do not remember you, over what length of time were these trades taken? Are these simulation trades or live cash account trades? Which instruments are you trading? How many contracts do you trade? Do you have any fill problems? Are your entries based on buy and stop limit orders or market orders, or precisely how are you entering? Are you taking your own trades, or are you taking the trades Alla calls, or that Danny calls, or precisely how do you choose which trades you take? How many charts are you using on each instrument that you trade and which ones are they? Alla teaches that you should use a minimum of 2 charts, and she uses at least 3 charts on each instrument.
Danny calls very few trades, Alla can call many, but 412 trades is dfficult for me to believe unless you are trading many instruments and the time frame has to be at least a year, unless you are taking every trade possible and then I know you must be losing money! If you are not losing money, please prove it to me by sending me a private message with an attached pe;rformance record of your cash account. You can do this without giving your account number in Ninja. I have done this in the past for others who wanted to see my performance record.
I agree with you and posted that Alla teaches a method where one can trade profitably; however, my experience with the method has taught me that you cannot enter all of her setups and to be profitable that you must only enter trades that are the very best.
These very best trades on a chart are: 1. you have at least 3 profit targets before you have a support/resistant area on that chart, 2. the 60 min chart is in a particular wave pattern (also the 60 min chart takes time to learn to read the wave patterns and most have difficulty with it, but time and experience with it and you can master it), 3. And, when entering a trade on a shorter time frame chart you want to see that a higher time frame chart is also setting up the trading pattern she teaches.
Additionally, besides the 3 charts she uses on an instrument I found it necessary to also have other time frame charts up on the same instrument in order to get more than 1 to 3 very best trades a week during the best trading hours of 9:00 AM to 11:30AM EST. Therefore, I was running the following charts: 8, 13 and 21 range, 3, 5 and 60 minute and a 600 and 900 tick chart on each instrument that I wanted to trade--reason why I stated that I could only trade one instrument and not miss the very best trade setups.
Jonathan, the former moderator and an exceptional trader but is no longer with her, also used many time frame charts on the CL. He used 3 different tick charts, minimum of two range charts and a minimum of 3 minute charts. CL was the only instrument that he traded. Additionally, I recommend that one should pick one instrument to trade so that you know that instrument.
I will state that if you use the charts and type of trades that I set forth above, my win percentage was 85 to 90% overall and many days it was 100%. However, with the illiquid markets I did have fill problems on TF, CL and NQ. Additionally, I used a different money management strategy than she teaches.
I still use her method but have combined it with my method and what I have learned, through experience, of watching charts to trade successfully.
In summary I would like to know how you are trading the method with your 412 trades and were they executed in a live account wherein you can verify your results? Also, why are you not a moderator in the education room—with your purported success with the system??? The traders in that room sure could use your success to increase their accounts!!!
I don't contest her trading approach (there are a thousand ways) but she does not trade live (nor on demo), thus to talk about a trading room is superfluous.
But the same for everyone.... no matter who you are, or where you come from. There is just no getting away from it.
I found this string (I finished trading early today) and read through it entirely.
Everything in this string is great - either pro or con. No matter what you read, anywhere by anyone, your best chance is to prove things to yourself. This business will require investments of time and money for due diligence and research. Only take advice from your mom or dad. Period. And once you reach 21, take even that with a grain of salt.
So, go out there and investigate enough to make a decision - your own decision based on what you can see. If you cannot see it, be careful to not hope it is being hidden from you for a price. There are no magic formulas, or systems or methods. In trading, the bottom line is the real cash trading of the method or systems by you, not anyone else. Unfortunately, this lesson does not come cheap... ever.
YOU ARE THE HOLY GRAIL.
PS - Hey DH - are you still doing that crazy thing?
I have made many favorable posts in the past regarding Alla Peters and Alpha Wave but unfortunately things have changed. I went back into the room on one of her free Tuesdays and was appalled at what I found. She posted an entry for a trade on the TF and as soon as it triggered she rolled her entry 3 ticks back. So, according to her, I entered the trade 3 ticks late. Anyway, she recommended closing the trade at break even, even though people like me were down on the trade. She booked it as a one tick winner. She got clobbered in her trades on crude oil. She has morphed into a slick huckster who will do anything to avoid booking a loss. In the middle of this debacle she was showing pics of her new dog in the trading room.
As a trader who uses fibs, I am always looking for an edge or nugget I can use. I attended her webinar today and decided to come here to Big Mikes to see if anyone else has had any experience with her and her room. After listening to her, I was not impressed, even more so after reading the posts here. Yeah, there are a lot of rooms that charge what she charges and way more, but is that using proper logic to justify paying for her room?? Save yourself the money and use it towards an account. There is plenty of free trading info out there. Take the time to find it and study it. Once you find something you are comfortable with, make it yours. The education fee for AWT would be better served in your trading account.
P.S. This goes for most "Education Rooms" that charge a pretty penny. As Jaguar52 said, " You are the Grail".
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!
