Wolfe Wave Course

Discussion in 'Trading' started by stock_punter, Jan 18, 2002.

  1. Hi There,

    Anyone take the Wolfe Wave Course?

    Is so, what do you think about it?

    See http://www.wolfewave.com/index.htm for more info about Wolfe Waves and the Wolfe Wave course.

    Thanks.

    -- Punter
     
  2. bora

    bora

    I haven't bought the course, but i think the price is too high. $3000. If there was something like a money back guarantee yes then maybe...
     
  3. Is this not just trend line analysis??:(
     
  4. C2C

    C2C

    It works but you would end up playing corrections most of the times.
    Appropriate only to trade trending markets.

    C2
     
  5. how do you know? do you use his analysis?:)
     
  6. C2C

    C2C

    Just my market research and experience.
    This 'wolfwave' has a reality and although not optimal(by far) trendlines are decently usefull to read the pattern.

    It happens that theses signals could lead to decent results under some market conditions (trending markets), otherwise, you end-up trading corrections mostly.
    Assuming it is more a swing trading method, using the signals in a moderatly trending market or TR is not worth the exposure, from a conservative money management viewpoint.

    Their method is honest, but I fear that it would lead newbies to miss the big picture and use it without understanding the phenomenons involved.
    This would lead them to loose money each time the market trending characteristics would undergo a change.


    Just my honest opinion,


    C2
     
  7. stock_punter -

    Be careful - it's got some shades of Elliot Wave baloney. Historical charts look good when they selectively pick the days and draw the lines in hindsight. Looks like a caveat emptor, especially if you're talking about throwing $3K at it.
     
  8. I would pass on this course. I have taken three courses, and this is one of them.

    The patterns do work sometimes, other times they don't. It also is very difficult to find these patterns. I would go to bigcharts.com and scan about 400 charts per night trying to find these patterns setting up. I would look at the largest % gainers and losers in price on both NYSE and NASDAQ.

    The setups work best on daily stock charts, at least finding them. Bill Wolfe does know his stuff, but this is almost geared towards stock swing traders, not the intraday futures traders, even thought the method is taught using the S&P 500 Futures data.

    As far as the above post on Elliott Wave baloney, this is how I make my trades in conjunction with price projections and retracements as well as time projections and retracements via Robert Miner's Dynamic Trader principles.

    I guess I could be characterized as a swing trader, so if you have the same philosophies, I would highly recommend Dynamic Traders.
     
  9. A.A.,
    Although I don't use or study E-wave theory, I would have trouble dismissing its merit. Being that waves (cycles) occur in every aspect of physical (ocean), non-physical (radio frequencies), and psychological (sentiment) states of all dynamic entities, surely something can be applied to the markets. Deciphering it is another matter. Plus, surfing is the coolest sport ever along with trading (conditions very blown out today though).
     
  10. There is much more to the Wolfe Wave methodology than just drawing simple trend lines. If you can find these setups, they will put the odds in your favor for a successful trade.
     
    #10     Jan 18, 2002