the wolf-pak method

Quote from flyingdutchmen:

for some people here on ET it is just hard to understand
that people who like to help others realy do exist, this
thread is another proof of it.
he is not bragging about his gains or making silly
statements; he is not showing of with fake photoshopped
6-7 figure account
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No but he is taking credit for a very old method sometimes referred to as the floor traders method and naming it after himself.. so lets not put the sainthood submission into the Vatican just yet
 
Quote from wolf-pak:

See attached.

I added the enter and exit points. Notice that for pullbacks, the first exit should always be at the previous high low ie... new extreme in trend direction.....


...Right now, we are only examining the pullback entries that actually worked, which would be recognized by the wolf-pak method. We will get to the ones that didn't work, as well as the reversals, etc.

Finally, we will give general rules for avoiding entries that result in failure.
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Wolf-pak, thank you for continuing with the discussion.

Am I correct in assuming that, since these were pullback entries, you're bypassing the retest of the mean line, and jumping in on the trade as soon as the price moves above/below the first move?

Thanks,
Schaefer
 
Quote from wolf-pak:

See attached.

I added the enter and exit points. Notice that for pullbacks, the first exit should always be at the previous high low ie... new extreme in trend direction.

After this a trailing stop can be put in, or it can be watched for price action exit. I will cover that later.

With the first exit being the extreme in trend direction, I don't want to take any potential trades that don't give enough reward. The reward must always be greater than the risk and should be several times it.

For now we are focused on entry.

Notice that the extreme is never the same level as the mean. The mean must form above the extreme in the case of an uptrend. This means that we already have at least one higher low. By the second move, we have at least one higher high.

I have not delved into the 100 tick chart yet. We will examine every possible entry using the wolf-pak method in both time frames.

Right now, we are only examining the pullback entries that actually worked, which would be recognized by the wolf-pak method. We will get to the ones that didn't work, as well as the reversals, etc.

Finally, we will give general rules for avoiding entries that result in failure.
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Makes sense, what are your criteria for entry ?
Thanks,
 
If u aren't interested just hit the road ok? And let those who may have an interest discuss w/out having to read all the negative or cynical comments.
 
This name kinda made me laugh and brought back memories.

When I was 19 years old I created a "Yahoo Club", back in around 1998. I was trying to think of a really cool and aggressive name for it, and it just came to me that I should have the Wolf Pack Traders club.
It turned out to be a major turning point in my life and everything I've done since then in some ways can be traced back to the wolf pack.
Anyway I've not read anything on your thread, just the name..but good luck.

Brandon
 
Quote from aspenboy:

If u aren't interested just hit the road ok? And let those who may have an interest discuss w/out having to read all the negative or cynical comments.
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I'm afraid that would remove some people's reasons for visiting ET. For whatever reason, they are mad at the world, and they can only feel better after slamming others and their ideas. There would be no joy from simply clicking out of a thread while mumbling "whadda bunch of bs", or heaven forbid, placing an OP on ignore. Maybe wolf-pak should have named his method ,Paris' Glistening Camel Toe'. Bottom line - the simple ideas presented to date are based in the fundamentals of price action, and could possibly improve one's awareness of why price bounces up and down.
 
Quote from Brandonf:

This name kinda made me laugh and brought back memories.

When I was 19 years old I created a "Yahoo Club", back in around 1998. I was trying to think of a really cool and aggressive name for it, and it just came to me that I should have the Wolf Pack Traders club.
It turned out to be a major turning point in my life and everything I've done since then in some ways can be traced back to the wolf pack.
Anyway I've not read anything on your thread, just the name..but good luck.

Brandon
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Ain't it great to realize that 'some' of the decisions we make in life are actually beneficial :)
 
Why does anyone care if he names this method after himself or his grandma. Personally, I see something here I didnt realize before, even though i recognize the initial chart as a dragon pattern/entry. Wolf, please continue.

Aren't you simply establishing support in the mean line? Thus enter the first higher high after support is established? Correct me if I am misinterpreting?
 
IMO patterns should be used only in a background of the market structure.

If one zooms to close and starts trading the pattern every time it shows up, it will be a loosing game.

The pattern discussed is good and proven but only if used as an entry that you have anticipated because of a strategic plan based on the market structure.

By market structure I mean things like, the news just came in, the market is showing signs of moving up but not as much as the news suggested. Your idea is that you need to go against the move. THEN you can use a pattern as the one discussed.

There is no substitute for thinking.
 
Quote from Schaefer:

Wolf-pak, thank you for continuing with the discussion.

Am I correct in assuming that, since these were pullback entries, you're bypassing the retest of the mean line, and jumping in on the trade as soon as the price moves above/below the first move?

Thanks,
Schaefer
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Schaefer,

This is not the case... look closer. You may have to go into a smaller timeframe to see it, you may not. One of the main points in learning price action is looking within a candle.

Notice the last candle to touch the mean line. That is the MEAN TEST. Before this what do you see? A move in the main trend direction, that is the FIRST MOVE. Finally, the entry comes on the SECOND MOVE.

You have to learn to read what the price is doing at each candle. Read each candle, follow the actual movement inside the candle if possible, use the lower timeframe to confirm. This ability and determination and patience is the key to reading price action from the chart.

If needed I will post the same entries in the smaller timeframe.

This is why it is not a simple pattern or setup... it is a behaviour that can play out in different ways and look different to the eye.

A doji can be 1 bar, or it can be 2 or 3 bars together. I will get more into this on a later post.
 
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