Wolfe Wave Forex Robot Diskusia

   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.

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...?

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

   rs92 posted:
   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

Dear SandyW,

We have reported your post, because you have advertised 3d- party resources. We also will block subscribers for unfounded accusations. Please, post a specific examples, screenshots, statement, reports or investor passwords. Our goal is improvement of Wolfe Wave forex robot on the basis of the constructive critics of users. We do not want to loose our time for unsubstantiated talk.

   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!

   JohnyJohnson posted:
   

   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!

...... We also will block subscribers for unfounded accusations. Please, post a specific examples, screenshots, statement, reports or investor passwords. Our goal is improvement of Wolfe Wave forex robot on the basis of the constructive critics of users. We do not want to loose our time for unsubstantiated talk.

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 https://iticsoftware.com/wolfe-wave-trading, I decided to write directly to you.

You claim that your method works on any market, any time frame: https://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. https://www.myfxbook.com/members/iticsoftware/wolfe-wave-forex-robot/262897.

   JohnyJohnson posted:
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!

Don't worry... I'm going to trade on H4 timeframe to avoid of big drawdowns.
I know that every EA is risky (even forex trading is risky) ... so in my opinion the potential profit/loss ratio is more important.
I trade around 400 k .... and of those 400 K i have 'allocated' 100 K for WW EA. 300 K, goes for my own trades as of now ....
get me ?

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 ?

I'm going to perform some backtests and publish it. With best regards and hope for more substantial discount.

USDCAD, H4.
Result is perfect, drawdown is minimal . I like to trade this pair so I started from USDCAD.

   PaulCantor posted:
   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 ?

Please see the image. After point 4 is confirmed, the indicator draws points 1,2,3,4 and lines 13, 14 and 24.
In the future 2 events is possible:
1) the market goes down and crosses line 13, this is the signal to Buy
2) the market goes up, proportions of the patterns is broken and the pattern is cancelled (lines and points erased)

How does EA work?
1-st trade of trade sequence opened by the cross of price and the line 13 +- spread.
Initial target is point 4 - spread.

If tp is not reached and the market goes downwards, EA opens 2-nd trade.

1-st and 2-nd trades closed at GlobalProfit$ and 1-st trade of new trade sequence opened (because the last pattern is Bullish pattern and we are within LastSignal.Expired.Bars after point 4).

   iticsoftware posted:
   

   pc8multifx posted:
   Why would someone watch a video about a MARTINGALE ??????😲

This EA doesn't use martingale.

The wolfwave EA is using a type of martingale with the lot sizes increasing as the market is going against you The EA is currently in Long positions on the EUR/USD pair your starting lot size was 0.03 , 0.03 , 0.06 , 0.09 , 0.15... I will say Martingale can be a great tool if you know how to use it but your EA is trading against the trend and if the EUR/USD pair continues its downtrend you might the will probably open another position. If that pair starts to retrace the EA will look to take a profit of around 33.00$ on the EUR/USD trade set with 3 positions losing and to wining. All EA's have a tendency of working in a particular market condition and looking at your history this EA is meant to be used in consolidation not a trending scenario. 😇

   Aboualaich posted:
   demo account

Member Since Jul 25, 2011 0 postsForex_Swing_Trader (Bobby1978)3 Hours ago

   iticsoftware posted:
   
   pc8multifx posted:
   Why would someone watch a video about a MARTINGALE ??????


This EA doesn't use martingale.


The wolfwave EA is using a type of martingale with the lot sizes increasing as the market is going against you The EA is currently in Long positions on the EUR/USD pair your starting lot size was 0.03 , 0.03 , 0.06 , 0.09 , 0.15... I will say Martingale can be a great tool if you know how to use it but your EA is trading against the trend and if the EUR/USD pair continues its downtrend you might the will probably open another position. If that pair starts to retrace the EA will look to take a profit of around 33.00$ on the EUR/USD trade set with 3 positions losing and to wining. All EA's have a tendency of working in a particular market condition and looking at your history this EA is meant to be used in consolidation not a trending scenario.

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Money Management & Risk Reward Ratio

Time to start hiding the draw downs again, Borys!

You can't fool all the people all the time, but it's worth trying.