Wolfe Waves Paterns

Quote from mokwit:

If you are genuine I apologise for harrassing you but we get kind of tired of posts containing a URL to a $3,000 system from people who had Jesus come to them in their dreams and beseech them to share their system with the struggling traders of ET for a mere $2999*. Occasionally the innocent, genuine and well meaning get torn apart by the cyber Hyena pack.

* That's less that $3000 and works out at less than $10 per day!
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No problem,
Do you have any thoughts on the subject?
 
Buy when the market looks strong. Sell when the market looks weak. Keep losses to a minimum. Use whatever indicator or pattern you wish. The pattern is less important than keeping losses to a minimum. Keep the entire position on until maturity. Please send the money to a charity since I have provided the system to you. Thank you for your time.
 
Quote from Buy1Sell2:

Buy when the market looks strong. Sell when the market looks weak. Keep losses to a minimum. Use whatever indicator or pattern you wish. The pattern is less important than keeping losses to a minimum. Keep the entire position on until maturity. Please send the money to a charity since I have provided the system to you. Thank you for your time.
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You are right of course, but...
do you think discussing an indicator and sharing thoughts about it is wrong? why?
 
Discuss it all you want. I discuss indicators all the time and use them extensively. However, I am just pointing out that you do not need to send anyone any money for their indicator. The first order of business is keeping losses small, then the discussion of the indicator is fine and more complete. Forget about how much can be made and focus on what can be lost. Where in the Wolfe Pattern should stops be placed? This is the first order of business.
 
Quote from Buy1Sell2:

Discuss it all you want. I discuss indicators all the time and use them extensively. However, I am just pointing out that you do not need to send anyone any money for their indicator. The first order of business is keeping losses small, then the discussion of the indicator is fine and more complete. Forget about how much can be made and focus on what can be lost. Where in the Wolfe Pattern should stops be placed? This is the first order of business.
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I agree 100%.
I opened this thread to hear other views on the pattern, no money is invovle whatsoever !!!
 
Quote from romik:

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The 1-4 line is the EPA, or price target. in your pattern the cross is very near, if you take the trade from about 1424.25 you'll get a runner for about 5 tick + you got MACD and RSI confirmation.
not bad at all.
 
Quote from Buy1Sell2:

Where in the Wolfe Pattern are stops (mental or otherwise) to be placed?
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Not sure, the long pattern runs between 1-4 and 1-3, 2-4 X as my entry and if it hooks back and X I stop. the 2-4 becomes the resistence line. I encountered a few times when it hooks, touches the 2-4 and back on its way.
 
There are a couple of in-depth discussions with plenty of charts on WW on two other large forums, both of them being Forex forums. I'd name them, but I'd probably get banned. Do a search on Google and you'll find them.


I just sent you a pm with the addys. Good luck.

Nat
 
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