What has worked for me--Wolfe Waves

[andycan]

geometry? did you read a book by jenkins?

nopes did not read a book
just learned the hard way sitting in front of a screen
sure i read books but in all honesty most of it is crap

 

[ChowClown]

Clam61, saw this earlier on GBPUSD 60min and would like to run it by you...1/. if this isn't a valid bearish WW, why? 2/. if it is, where would you have entered short and where would you have placed the stop loss? Bill seems ambivalent about stop losses, but i can't afford to be

The MAs have me long at the moment.

 

[ChowClown]

..may have spotted why this isn't valid...the 135 and 2,4 lines will not converge, as it's a broadening pattern...correct?

 

[ChowClown]

....another go....valid bearish WW?...i'm not convinced by the '4'...

 

[Silvertip]

Ive added a chart, although it is not a textbook wolfe wave, especially since it is distorted by the non farm data last Friday, but it is performing quite well so far. We may even find ourselves going back for a retest of 1.98, forming a doubletop before retracing again, and this failed wolfe would hit the target right on the money.

This posts displays the fact that you dont have to comply to the parameters of the textbook, the dotted blue line displays where point three should be located, and yet it has not made the slightest difference to the outcome. Perhaps if clam could see beyond the parameters of his textbook he would actually learn something himself.

 

[ChowClown]

...and the weekly view:

 

[andycan]

curious--what is market geometry?

well simply its the mathematical relationship in the markets
all markets have a mathematical/geometric signature
the trick is to know which markets do what
like you see the WW setups and understand them
i see and use price and time to determind where the market will go, as WW repeat themselves time and time again
the mathematical relationship of price and time do exactly the same thing

 

[laptop1]

Dont need to buy the manual. I have read it. its no diffrent to this.

http://www.trade2win.com/boards/attachment.php?attachmentid=24131

 

[andycan]

ive heard this before. would you care to share your technique or be a little more specific?

clam61
i gave a brief discription what its all about on this thread
http://www.trade2win.com/boards/showthread.php?t=21333&page=5&pp=10&highlight=fibonacci

silvertip
its is your opinion
most of his material is questionable at best and thats from the horses mouth
maybe there was potential of brilliance in him but probably faded with Mr Daniels

 

[andycan]

what is this referring to?



o wait i get it



i actually did dabble in harmonics, pesavanto and carney, and even wrote a nifty harmonic indicator for MT4 that i think is the best harmonic indicator out there *pat on back*

however i think the problem with harmonics is use on a low time frame and when people give a lot of leeway. often times patterns pop up that shouldnt be there. on top of that i think the problem is that i have no way of knowing when is a good time to exit the trade. do i hold and take profit quickly? lets say im in the green and price is turning against me. is this a small retrace or am i done for?

Harmonics are one part of geometry
persavento/gilmore they are pattern traders and though these patterns do have some geometric value,its not Geometry based on what i do
as for your dilema when to exit....
it depends what you refer to in exiting if its persavento/gilmore patterns then i guess it depends which pattern you are trading
all i can tell you is markets have structure those structures repeat time and time again. the problem most have is a move up tends to have a retracement and most apply a retracement ratio and hope for the best
and there is a lot more to it.

 

[andycan]

i understand. is the more to it described in your thread?

there is something there that gives you a brief idea
but the purpose of the thread was a discussion whether these so called PHD's thesis was valid and to a degree their research was correct, but it was correct because their methodology and application was incorrect

 

[Mr.Black]

Is this WW is drown after the fact ?

 

[Mr.Black]

64 pips in an hour with GBPUSD. one trade. set and forget =)

Next time try to post one in real time......

 

[Mr.Black]

Real time look's something like this.....

 

[Mr.Black]

It's a lot of subjectivity in this method :idea:

 

[Mr.Black]

mr black

first of all is that a chart or did you let a 5 year old scribble on a chart? that is not a wolfe wave...at all. im assuming you dont really understand the wolfe wave or else you would never consider that a wave.

if you have any cognitive sense there is no subjectivity in this method. this is not to say there is no failure, but subjectivity--no there isnt

that is how i am able to set a limit order to get into the market, set a stop just in case, and set a limit order to take profit well in advance before the wave fully develops and be successful

this is mr. black's mind in realtime

--cool. i see someone being successful
--"crap", im not making money
--lets try his method on a chart
--"crap, i can't do it. i can't do anything right!"
--lets poo poo on this method to make myself feel better
--lets use a bunch of emoticons like a fairy

Ok next time when you set your limit , stop and exit order just post a chart .....Mr_Wolfe :cheesy:

 

[Mr.Black]

sigh...if im mr. wolfe i have a lot better things to do than post on this board.

Yep to count all these $ from people bot this 'secret method' $3000 a piece .....this is a good trade whit no risk.....

 

[Mr.Black]

learn to read, Bulgaria, i actually said about two posts ago that this method was not without failure.

and in my original post, i didnt say there was no risk, i said there was little risk, i.e. tight stops and large price targets that are hit

Man you need to form a WW church

 

[ampro]

Yep to count all these $ from people bot this 'secret method' $3000 a piece .....this is a good trade whit no risk.....

What's your problem?

If you don't like the method or can't be bothered to investigate the possibilities of utilizing the pattern, then why not simply leave well alone?

If the guy wishes to demonstrate the set-up & post examples, let him be. He's not doing anyone any harm. You might actually learn something or at the very least pick up a tab or two of info which you could use in your own armoury.

No-one's asking you to lay out $3k are they? And I'm sure folks are adult enough to make up their own minds whether they wish to pursue a line of enquiry.

Geeeeez.

 

[Mr.Black]

What's your problem?

If you don't like the method or can't be bothered to investigate the possibilities of utilizing the pattern, then why not simply leave well alone?

If the guy wishes to demonstrate the set-up & post examples, let him be. He's not doing anyone any harm. You might actually learn something or at the very least pick up a tab or two of info which you could use in your own armoury.

No-one's asking you to lay out $3k are they? And I'm sure folks are adult enough to make up their own minds whether they wish to pursue a line of enquiry.

Geeeeez.

I don't have a problem , but people posting pictures like this one have a Big Problem...they have a Diagnosis and ain't a good one....