Hi Sarasota, Can you provide me more details with your experiences about the wolfe waves? My e-mail address is StockPunter@yahoo.com if you wish to discuss offline from the message board. Thanks. -- SP
Read the WW chapter in LBR's Street Smarts. She claims all there is to know about WW is there. Besides, WW are just broadening patterns. Review your Edwards & Magee and lookup "backward triangle". Last I heard, Bill Wolf sells systems and his son Brian sells cars. If WW worked you think Brian would be trading?
Dottom, with all due respect, you are wrong. I took the course and also own Street Smarts. In fact, the examples of Wolfe Waves LBR uses in the book are very simple. There is so much more to it than that. I asked Bill Wolfe if LBR was a former student. He said she wasn't but he showed her the philosophy of the Wolfe Wave over a few minutes. So if you haven't taken his course, how would you know what its about? Having said that, hindsight being 20/20, I would not take this course for $3,000.
And the search goes on. $3000 for selling courses sure beats the stress of trading for a living. Toby
Bill Wolfe called me several times with potential trades. I assumed he was making these also. Again, I would not take this course for $3,000
So if you haven't taken his course, how would you know what its about? I took LBR on her word when she said that her WW chapter covers "all you need to know about WW". This was corroborated by another trader who works with LBR. Whether LBR or this other trader took the actual course, I do not know. Still, in a game where 90% of traders lose and 99.9% of vendors sell snake oil, you have to be skeptical, especially when the price tag is $3k and the web site offers no hypothetical performance or testimonials. Even though you should read all hypothetical performance and testimonials with a heavy dose of skepticism, you have to really question a vendor when they don't even offer those. Add to this the fact that Bill Wolfe does NOT trade the Wolfe Wave himself. He admitted so in a phone interview done in 1995, after a broker for Justin Case called Bill Wolfe himself. Bill was running advertisements claiming that he & his son was trading WW for 9 years (that would put it around 1986 that he started trading WW), but he admitted to the broker that he does not trade WW himself. Maybe that's changed in the past 7 years later (which would make his WW discovery 16 years old). Now does the fact that Brian Wolfe, son of Bill Wolfe, sells cars for a living instead of trading mean anything? You could argue either way, but if you are skeptical you would think that a very successful trader would see his children follow in his footsteps. After all, they have the best possible access to a teacher & mentor! Especially if that teacher & mentor is selling his methods for $3k (it used to be $3,500 in 1995). I mean, all Brian has to do is pick up a copy of the manual and read it, he doesn't even have to be on good terms with his father! Yeah, yeah, tell me it's different strokes for different folks- but it is very encouraging for me to see Daniel Dunn follow in his dad's, William Dunn's, footsteps. John Hill Jr. follows in his dad's, John Hill, footsteps. And by all indications, looks like Jordan Oz is will be following Tony Oz before he even goes to college! These are just a few examples of successful traders mentoring their children to trade. Yes, it is possible that Wolfe Waves provide a positive expectancy method to trade the markets, despite all of the above warning signs (no hypothetical performance, no testimonials, a review by respected trader LBR, and teacher does not trade himself). So I suppose the real question is, are you profitable using the method?
Wise man. You obviously do not fit into the;"Fools and their money are soon parted." group, that haunt the darker corners of this web site. There is plenty of free material on the web, or in a few judiciously chosen books. So keep the $3000 in your trading account. Good luck. Neil
This is not only funny but a pretty interesting point... Nice to see that you bought the package and don't need to massage your own ego and defend it Sarasota, shows class...