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Wolfe Wave Forex Robot (에 의해 Borys Fesenko )

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Wolfe Wave Forex Robot 토론

SandyW
May 07 2012 at 16:37
게시물11
forexprofess,

Also, interesting that you joined the forum only 30 minutes before you posted!!
rs92
May 07 2012 at 16:46
게시물15
Hello Borys,
I won't enter a philosophical discussion about what martingale/grid is since it would be a waste of time. Who cares! The real ultimate question is: Is WW a sustainable strategy which can produce profits over time?

The fact of the matter is that :
a) forcing only one trade to be open, the probability of winning is some more that 50% (obviusly with losses bigger than wins); this fact negates the superiority of the WW startegy against a coin flipped in the air.
b) the WW strategy is totally based on a BET, i.e. when I am losing, before I wipe out all my equity, the market will reverse and, because of the geometrically increased size of my progressive trades, I'll be able to rebalance the account and making some profit (which actually is what happen in most of the cases)
3) all the most emphasized but live-losing robots are able to show exciting clean backtests. WW robot belongs to the fews that manage to crash every account even at backtest stage.
4) implementing the GlobalSL per the default parameter (700$) you can prevent the crash; the algorithm though produces an overall loss with a scary 55%+ DD.

Bottom line: either you play a conservative approach and over time you lose some money, or you play the 'exciting' game and, be sure, you'll splash against the wall.

Final question Borys: why when tonight during the huge DD the report was frozen, while later in the morning, when the market reversed favourably the report returned to update the figures?
Matt (BluePanther)
May 07 2012 at 21:07
게시물1356
Dear Matthew,
 
We do not have money back for digital products.
I can exchange EA for any EA or Indicators. Is it ok for you?
What kind of problem do you have with WW EA?
 
regards,
Boris

=========================================

Buyer beware: NO REFUNDS.

I only purchased this product 27 April, and the drawdown recently was too uncomfortable for me.
Borys Fesenko (iticsoftware)
May 08 2012 at 02:27
게시물121
We have demo version for this product (trial fully functional ). Anybody can try this EA and decide.
Borys Fesenko (iticsoftware)
May 08 2012 at 02:31
게시물121

   rs92 posted:
   Hello Borys,
I won't enter a philosophical discussion about what martingale/grid is since it would be a waste of time. Who cares! The real ultimate question is: Is WW a sustainable strategy which can produce profits over time?

The fact of the matter is that :
a) forcing only one trade to be open, the probability of winning is some more that 50% (obviusly with losses bigger than wins); this fact negates the superiority of the WW startegy against a coin flipped in the air.
b) the WW strategy is totally based on a BET, i.e. when I am losing, before I wipe out all my equity, the market will reverse and, because of the geometrically increased size of my progressive trades, I'll be able to rebalance the account and making some profit (which actually is what happen in most of the cases)
3) all the most emphasized but live-losing robots are able to show exciting clean backtests. WW robot belongs to the fews that manage to crash every account even at backtest stage.
4) implementing the GlobalSL per the default parameter (700$) you can prevent the crash; the algorithm though produces an overall loss with a scary 55%+ DD.

Bottom line: either you play a conservative approach and over time you lose some money, or you play the 'exciting' game and, be sure, you'll splash against the wall.

Final question Borys: why when tonight during the huge DD the report was frozen, while later in the morning, when the market reversed favourably the report returned to update the figures?

I do not know. I will check log files.
SandyW
May 08 2012 at 03:33
게시물11

   forexprofess posted:
   I've bought this ea two months ago. Robot works on my live account without any problems. I trade on Wolfe Waves for several years, so this robot is fully consistent with my ideas about the forex market. Thanks Boris for a good ea!!!!


When I read this very glib endorsement by someone who had only just registered I intuitively felt it was fishy. However I asked a few intelligent questions on the off chance that here we might now have someone on the thread who could add value, beyond pointing up the risks. No answer.

I am as sure as I can be that the poster is in fact Borys posing as a satisfied client.

This WW trading strategy does have potential, but the way Borys has introduced martingale (or whatever), the grossly inadequate user manual, the tricky manipulation of results, the late offer of a trial version, the dismissal of the concerns of clients, the evasive answers to questions, the refusal to address the very real issue of the risk of account blow out, and now the outright lies is very disappointing. Not least to those of us who have spent good money buying the EA who are refused a refund out of hand. The idea of needing a refund seemed very remote when I paid out for this EA. I had expected support, not bullshit, not least because we have here a relatively expensive EA.

I see that price of WW EA has gone up substantially since I bought. Another marketing ploy.

Of course Borys is not now going to say 'hands up, sorry, let's get to grips with the issues properly, real support I promise from now on!'

Talking of issues, anyone noticed that on his video Borys claims that 99% of the time price hits TP? If that is the case Borys, why the need to introduce serious risk with martingale (or whatever)?

SandyW
May 08 2012 at 04:11
게시물11
Anyone still interested in Wolfe Wave theory might like to visit the following sites:

https://www.wolfewave.com/

https://www.forexfactory.com/showthread.php?t=6132

ForexDream
May 08 2012 at 06:33
게시물3
Hello Boris,

I have bought the exprt. In my opinion the best timeframe to trade WW expert is H4 so strong trends compensated by long distances between trades. What do you think?

Can I request to add hidden stops and sound/email alerts on open/close of the trades?
Janus78
May 08 2012 at 06:38
게시물6

   iticsoftware posted:
   

At 9 levels max per pair, what would be the approximate equity loss in one pair that hits SL?

Floating expected DD will be 15-25%.

What account size and what lots do you suggest to use to limit Max DD 25%?
Matt (BluePanther)
May 08 2012 at 09:12
게시물1356
Borys, you think we are so gullible to believe ForexProfess is someone else? It is blatantly obvious you opened this account simply to write a comment to try to support your side of the argument. There is enough shit out there in forums without you creating more.

Don't post under new usernames / different logins.

(member joined 17 hours ago, commented 16 hours ago - no other stats, comments, info, etc on user)

It says a lot about you Borys, a lot more than it says about those you are trying to deceive.
Matt (BluePanther)
May 08 2012 at 09:16
게시물1356
Dear Matthew,
 
We do not have money back for this product, sorry. We have demo version for this product and any client is able to test EA and decide.
 
You can exchange it on other EA or indicators, or request coding from our company.
 
>And why does this transaction not appear in PayPal? You are supposed to be using PayPal.
You can contact paypal and check why this transaction doesn’t appear on your account.
 
We able to view this transaction from our side
 
Website Payments Pro API Solution (Unique Transaction ID #36J363890H510561V)
Apr 29, 2012 Authorization From Matthew T Completed Details $575.00 USD $0.00 USD $575.00 USD
 
 
regards,
Boris

----------------------------------------------------------------------------------

Yep, thanks Boris. I guess I have no choice but to keep it now.

So much for customer service - BUYER BEWARE, IF YOU ARE UNHAPPY THERE IS NO REFUND.

No Paypal verification either?? I emailed Paypal - we'll see what they say. Seems like you are using Paypal authority illegitimately???
Borys Fesenko (iticsoftware)
May 08 2012 at 12:00
게시물121

   ForexDream posted:
   Hello Boris,

I have bought the exprt. In my opinion the best timeframe to trade WW expert is H4 so strong trends compensated by long distances between trades. What do you think?

Can I request to add hidden stops and sound/email alerts on open/close of the trades?

Yes, please mail me for requested updates.

You can improve the perfomance of your expert advisor by adding of extra options:


1.1) Dynamic lot calculation
a) as percent of Account Balance
b) as percent of Accout Equity
c) as percent of Account FreeMargin

So on increase of Account Balance/Equity/FreeMargin the lot size will grow too

---

1.2) Dynamic lot calculation with RiskPcnt option

You will enter an initial risk % of equity you can loose if StopLoss is triggered.
So for any StopLoss size if AccoutnEquity = 5000 and RiskPcnt = 10.0
then you will pay only 500$ on StopLoss.

---

1.3) Dynamic lot calculation by Martingale theory.
New lot will be multiplied by 2.0 (LotFactor = 2.0 is external parameter)
if previous lot was closed in loss.
On first trade closed in profit we reset lot size to initial state.
MaxLot of series will be second external parameter.

---

2) Possibility to define work days of the week

Example:
// --- Trade days ---
extern bool MondayOn = true;
extern bool TuesdayOn = true;
extern bool WednesdayOn = true;
extern bool ThursdayOn = true;
extern bool FridayOn = false;
extern bool SaturdayOn = false;
extern bool SundayOn = false;

---

3.1) Trade time to open order from hh:mm to hh:mm by ServerTime

Example:
// --- Trade time ---
extern bool TTm.Check = true;
extern int TTm.Start.hh = 8;
extern int TTm.Start.mi = 0;
extern int TTm.End.hh = 19;
extern int TTm.End.mi = 0;

---

3.2) Close open orders at CloseTime (CloseTime is external param)
a) only profitable
b) only losing
c) all

---

4) Sound, Popup, Email alerts on set/open/modify/close/delete of an order

---

5) Support of Market Execution (required for ECN brokers)
Open operation will be splitted into 2 parts:
a) Open new order with 0 (zero) stoploss and 0 (zero) takeprofit
b) Modify sl and tp of new order to actual values

---

6) Make StopLoss, TakeProfit, TrailingStop hidden to brokers
In this case EA will manage Hidden (or invisible) stops
Standard (or visible) stops will be available too

---

7) News trading. i-FF-News indicator used.
The indicator loads the news from ForexFactory site for all the week
and updates the news every hour. You can apply built-in filters
to get only important news.

We offer to update your expert
a) close opened trades X minutes prior importnat news
b) stop new orders between X minutes prior and Y minutes after important news

---

8.0) Breakeven function
Moves StopLoss to breakeven level when trade is in profit by X pips

---

8.1) Standard Trailing: simple trailing, stoploss follows by the market

8.2) High/Low Trailing: trailing by bars High/Low

8.3) MA Trailing: trailing by MovingAverage indicator

8.4) ATR Trailing: trailing by ATR indicator

8.5) Fractals Trailing: trailing by Fractals

8.6) PSAR Trailing: trailing by Parabolic Stop And Reverse indicator

8.7) ProfitPcnt Trailing: trailing with lock of some pcnt of max. profit reached

8.8) TLine Trailing: trailing by some TrendLine added manual on the chart
csabafx
May 10 2012 at 06:39
게시물3
Boris,
I am also a trader who purchased Wolfe Wave Expert Advisor from BJF Group.
Till now I just following discussion from background about this EA, without leaving any comments. I read pro and contra, what other traders asked you, and what you answered/ how you react.
 I got very disappointed when I realised that you have been blocked a trader - who also purchased WW EA - from making any comment on this forum.
SandyW made far the best review about this EA here, his observations, questions I found really eye opener, also I am enjoyed his intelectual approach, in contrast others who only were able to criticize it with few words only.
Borys, do you think this is the best way to solve this problem? Everybody will banned from here who will point out some weakness of this EA? Maybe I am the next? I think this is a wrong way. You shold implement this system. You should work on this problem, and show for the other traders here, who using or testing your system that WW EA is a reliable, profitable system.
The wolfe wave EA without lot management/martingale option shows very poor perfomance. Personally I am not familiar such system, wich increase the lot size if the price goes against me (martingale). But still there is a lot of adjustable parameter on WW indicator within EA why you don't optimize it? I don't have capacity, experince to do it. I purchased it with belief that I will have a different, a bit better EA then others in the market. With new adjusted parameters you can prove and stand for your product that is still profitable, safer with or without lot management system.
 If you lost the trust, honesty, you will miss a lot of client. Nowadays there are many customer outhere who sell EAs, you can find thousands on the internet. Average price of this robots are half than yours, with really good support, detailed documentation about the EA, 60 days moneyback guarantee, and excellent historical backtest.(also you find good reviews about these robots by other traders). But some peoples (also me) found interesting this EA.
Apologize if somewhere in the text my english is not correct. I hope still understandable, everybody get my thoughts. Now this EA too risky for me. The concept ok,hopefully we will get some development regarding with EA.
Borys Fesenko (iticsoftware)
May 10 2012 at 15:07
게시물121
Dear csabafx,
We have reported to myfxbook 1 post (with urls for 3d party resourses) We do not allow advertisement here, sorry.
EA Developer (RickD)
May 10 2012 at 16:18
게시물8
Hello,

I'm the developer of WW EA, so all the customers or members can ask me any technical questions.
EA Developer (RickD)
May 10 2012 at 16:19
게시물8

   Janus78 posted:
   

   iticsoftware posted:
   

At 9 levels max per pair, what would be the approximate equity loss in one pair that hits SL?

Floating expected DD will be 15-25%.

What account size and what lots do you suggest to use to limit Max DD 25%?

Lots, GlobalTP$ and ExtraGlobalTP$ are default.

Depo 5K, recommended RiskRatio 0.1 - 0.2
Depo 10K, recommended RiskRatio 0.1 - 0.3
Depo 15K, recommended RiskRatio 0.1 - 0.4
Depo 20K, recommended RiskRatio 0.1 - 0.5
Depo 25K, recommended RiskRatio 0.1 - 0.6
Depo 30K, recommended RiskRatio 0.1 - 0.7
Depo 35K, recommended RiskRatio 0.1 - 0.8
Depo 40K, recommended RiskRatio 0.1 - 0.9
Depo 45K, recommended RiskRatio 0.1 - 1.0
Depo 50K, recommended RiskRatio 0.1 - 1.1
etc...

PS. If you are going to use RiskRatio between 0.1 and 1, your broker must support microlots: 0.01, 0.02, ...
EA Developer (RickD)
May 10 2012 at 16:19
게시물8

Apologize if somewhere in the text my english is not correct. I hope still understandable, everybody get my thoughts. Now this EA too risky for me. The concept ok,hopefully we will get some development regarding with EA.

What is your initial AccountBalance and what RiskRatio value do you use now?


How to reduce the risk?
1) Decrease RiskRatio option, you may set it to 0.1.
2) Increase distance between trades: Dist.RangeMultiplier and Dist.PipsInc options.
3) Change GlobalTP$=60 and ExtraGlobalTP$=10 options to highest values.
4) Change LastSignal.Expired.Bars=150 option to some lowest value (100 or 50 or ever 30)
5) Decrease Lot size of every level.
6) Try to disable some trade days of the week.
7) Try to test and apply WW EA on H4 timeframe.
csabafx
May 11 2012 at 07:24
게시물3
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.
rs92
May 11 2012 at 10:14
게시물15
Hi Boris,
I saw in your website you have introduced a new '30 day money back guarantee'. This is a good move, well done!

Unfortunately the TRIAL copy downloaded 2 weeks ago has expired and I didn't have enough time to perform a thorough test. Can you pls expand the trial period or provide another period? I believe that minumum 2 months are required.
JohnyJohnson
May 11 2012 at 13:29
게시물8

   RickD posted:
   Hello,

I'm the developer of WW EA, so all the customers or members can ask me any technical questions.

You asked for questions, so my questions are:

Why have you departed so far from the well proven Wolfe Wave method?
 
Have you actually studied the authentic WW, or have you simply picked up ideas about it?

Are you a successful trader yourself or just a clever programmer?

Are you licensed by Bill Wolfe? I noticed that Borys has objected to one of the contributors drawing attention to Bill Wolfe's website! That appears to be telling us something?

I am very familiar with Wolfe Waves which I have used for manual trading for some years, alongside other methods. With increasing experience and confidence in the method I have become moderately successful, but trading is never easy. I was introduced to the idea of MT4 EAs only recently. I was intrigued that it might be possible to automate the trading of Wolfe Wave and, having come across the BJF website off a web search, I got a trial copy of this EA. A trading buddy has been helping me back test it, and is unimpressed to say the least! The vendor 'support' has done little to reassure me.

As a visitor I have been following what others have to say here with some horror. So far I have held back from comment, but as you are saying you are the developer I feel impelled to comment! Some of the contributors have made some very perceptive observations, and deserve better responses than they seem to have received so far, especially those who have paid for what is a very expensive retail EA by the usual standards.

The words Wolfe Wave are I believe a trademark of Bill Wolfe who invented and teaches the trading method, but you have not credited him as far as I can see. Was Bill Wolfe consulted?

Next I have to tell anyone who has bought this EA on the basis that it follows the Wolfe Wave trading method, that they have been duped. The lines it draws on the charts are more like a rat's nest than Wolfe Waves! The vast majority are drawn totally wrong and, as it would be impossible to trade off them manually I cannot see how the EA can engender any confidence. The EA may take trades based on what appear to be Wolfe Waves, but the trade entry is nothing like the accepted method, and trade exits seem to be set for arbitrary levels rather than according to WW theory. In fact the EA appears to give away as much as half the profit that would be available using the correct method of entry and exit. This reduced profit is unlikely to be enough to overcome the losses.

So it is not surprising that the developer, having failed to produce a profitable EA, has resorted like so many non-traders do, to adopting a variation of martingale as a remedy. This is not a trader's solution but a gamblers solution, and even gamblers know it does not work in the long run! It might have been a way to go, providing the extra trades were entered and exited at secondary WW points, but they appear to be purely arbitrary entries unconnected to WW theory.

The people who want to trade this EA without martingale are thinking like traders. They are on the right track, but will be let down by the simple fact that the EA is not using authentic Wolfe Wave.
 
The people who are putting their faith in the martingale feature to overcome the losses arising from the false Wolfe Wave are behaving like gamblers and will ultimately lose in a big way.

The working of the EA is anything but transparent, so I think most users trying to “improve” the performance are just thrashing about in the dark! And the developer is not genuinely helping, because he cannot afford any transparency.

All very unsatisfactory. So, to summarise:
  
Wolfe Wave is copyright and the developer has no licence to use it (as far as I know).

The EA follows the WW method so loosely that it cannot really be called a Wolfe Wave EA.

The EA at best gives away profit because of the above, at worst it will lose.

Adding to losing positions (at least in the way it is being done) to compensate for the tendency to lose is almost certainly going to lead to big losses in the long run, whatever the short term benefits demonstrated so far appear to be. Just look at the huge drawdowns (which apparently the developer is masking – with good reason!) and then imagine adding even more risk which will almost certainly cause a margin call!

Anyone who has bought this EA in the belief that they were buying into an authentic Wolfe Wave system should ask for their money back. Common decency alone should prompt the vendor to oblige.

I regret to say that the vendor of this EA does not have my confidence and I would run a mile from any of his products if they are anything like this one. I don't like to use the word scam because it is often overused, but.....................the word charlatan comes to mind too.......... To prove me wrong the vendor would need to be openly making refunds to all dissatisfied customers, no questions asked.

Just one final question to SandyW if he can still read this forum. You have hit the nail on the head with your commentary, so why continue to trade this EA even with your own settings and disabling the martingale? Is it because you think that the EA is using authentic WW theory? Or is it because you have spent good money on it, you have a mental blockage about ditching it? If I were you I would cut my losses, stop trading the EA before you lose even more, put it down to experience, give the developer a big black mark and move on!!
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