csabafx posted:
   Hello,
My initial AccountBalance 3K, with risk ratio 0.25 (default).
Is it possible to optimise wolfe wave indicator paremeters within EA(P1,P2,P3 etc....)? Or already done it? Just my idea is that with adjusted/optimised parameters I can get better entry points and we reach TP with first or at least second lot size. My optimising/testing skills are limited. Thanks.


Your risk is 3 times bigger than ours because our initial balance is 10K.
On 3K initial balance you should keep RiskRatio = 0.1, so the lot of 1-st order will be 0.01.

Optimization of entry point is not very effective challenge.
According to our observations if the price goes below line 13, takeprofit then shifted from point 4 to line 13 on market pullback,
so you need to optimize GlobalTP simultaneous.

To make you all AWARE. I receive this PM from SandyW.
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SandyW May 08 at 07:29
Hi,

Just to say I have been blocked by Borys. Too close to the truth I think.

cheers
Sandy

   PaulCantor posted:
   This is the first time I'm very impressed by an EA... less than 10 percent draw down only...PF of 2++ and the average proft trade is always significantly higher than the average loss trade. That in my opinion is especially important because it's like a safety zone. I would never trade with an EA where the average loss is higher than the average profit.
There are so many parameters... I have got no clue yet what they do... I just used the preset and it works fine. I don't really like curve fitting as the conditions always change...and curve fitted Ea's are no good. I haven't seen much yet, but charging from what I saw on the chart I like the 1H and 4H in particular.....As you must have an Indicator for that, is it separately available...?


I can understand that you are satisfied! But you shouldn't be so quick. Trading systems that use martingale or a variation of it cannot be analyzed in the usual way. Sorry but they can't! As the vendor is showing, for a while there will be a very attractive steady account growth. But do you realise how deep the draw downs can be? The vendor of WWEA has even been hiding draw downs in case they scare the punters. So far they have been fairly modest, but the waves in the sea which are so lovely to bathe in, do not foretell the tsunami. This has nothing to do with Wolfe Waves though, it is entirely down to the martingale.

Any EA which shows a straight line growing balance curve is immediately suspect, believe me. You can bet they all use a vriation of martingale. What you don't get shown is the equity draw downs. What is never published is the straight line which ends in a crash... BAM!

I just sent an email to Bill Wolfe:

after an endless discussion on a forex forum regarding the chance for success or failure of this forex software http://iticsoftware.com/wolfe-wave-trading, I decided to write directly to you.

You claim that your method works on any market, any time frame: http://www.wolfewave.com/Frequently_asked_questions.htm

However, a backtest on Iticsoftware expert advisor (trading robot) does not support this claim. Thus, either Bill Wolfe's method itself isn't what it claims to be (profitable) or Iticsoftware's rendition of it is wrong.

Any thoughts?

Never mind that there is a peripheral discussion on the forum on whether this person has permission from the Wolfe Wave creator to use and market this method. However, the method has been significantly modified by the introduction of martingale money management, which renders the use of WolfeWave simply as the entry point of the first trade in a series of attempts to recoup loss. http://www.myfxbook.com/members/iticsoftware/wolfe-wave-forex-robot/262897

2 Boris,

From what I see on the 4 H chart your WW Indi is very easy to trade. How does the 4 wave get confirmed?
I mean, after point 4 is confirmed, the Indi will plot the lines from the initial point (1), right... point 1 to point 3 and point 1 to point 4... or does that start earlier... i mean line point 1 to point 3 and waiting for point 4 ?