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Originally posted by its1111
Plumber
I have heard you talk about wave 59 software. It seems like you really like it, but you have to do a lot of testing to get the right settings. Did I get that right? or is it fairly easy to figure out.
I am always interested in anything to help my trading.
I was reading about the software and noticed the add on studies, have you ever seen the study about the hand of god?
The guy really raves about how amazing it is and that it was almost like god gave him a sign or something.
I must say that he sure got my curiosity up.
Mark
Plumber
I have heard you talk about wave 59 software. It seems like you really like it, but you have to do a lot of testing to get the right settings. Did I get that right? or is it fairly easy to figure out.
I am always interested in anything to help my trading.
I was reading about the software and noticed the add on studies, have you ever seen the study about the hand of god?
The guy really raves about how amazing it is and that it was almost like god gave him a sign or something.
I must say that he sure got my curiosity up.
Mark
First off, intraday i like to keep things simple so the above chart is the cycleplack and see it was anchored to the low downdraft after hours Thursday and I kept this model unchanged all day. The purple is the XT and the white is regular projector. What I need besides watching the price action( a huge part of my trading is price action, but I digress) is confidence in the swing points. What's the most profitable trade? Hitting the hole. Match the cyclepack model with Wave59's price cycles, which look alot like DeMark countdowns, and it's own natal forecast models and now I have a clue as to when price has exhausted itself. The 9-5 count is invaluable for this very reason. The left side is the 5 minute with the full countdown and the right is the filtered 9-5 count on a 1 minute chart. The natal forecast gives me more or less direction, not perfect but helps for bias and risk proifile. So my risk profile said short more aggressively b/c the trend was more or less down for the day, hit the longs as they come . I have 8 screens so I use 1, 2, 5, 10 minute charts for the 9-5 count split over 2 screens. I use other tools, like the count bars tool but what the screenshot shows is something I can't duplicate using another peice of software. Of course trend days play havoc so the use of the 10 minute time frame is needed. But any experienced trader can sniff out a trend day anyways looking at the tick reading and AD line behavior so you don't get whipsawed by the 9-5 count. On trend days the 9-5 count/10 minute chart is truely invaluable, it hits about every other day. Al Larsons stuff as an add-on, I told you my style b/c his stuff isn't not my style so I use nothing for add-ons. It's more or less for swing traders or traders who make 1-3 RT's a day. I won't get into the astro part of it b/c I don't even know if you'd use astro in your trading. Anyways, I like it and helps me in my trade decisions.
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