what has worked for me (finally)

[clam61]

some of you might know me from other forums. im just trying to spread the word and give some advice. im not an expert or a pro, but i have found something that has worked for me

i started out on forex scalping.

No one ever got rich scalping. I have made $ scalping and a good amount at that. However it comes in cycles. By scalping I mean any profit taking that is not at least three times the spread.

If you scalp and you have a stop loss that is the same as your take profit you are just asking for trouble.

This post isnt meant to insult scalpers. If you are doing well scalping then continue--I can't argue with results. But I have found a new method that makes it much easier. Im not glued to my screen and I can relax.

It's called the Wolfe Wave method www.wolfewave.com. this isn't my site, i am not bill wolfe. There is a lot of misinformation on the web about wolfe waves but I was able to get a hold of the manual and the results have been amazing.

i just wanted to post this in case you are trying to follow some crossover, indicator, fib method and not succeeding.

this is simple and elegant. you know your stops, you know your take profit. set it and forget it.

here is a thread
http://www.forexfactory.com/forexfor...ead.php?t=9794

start from post 131. its when i got the manual and things went well

here are some pics. hope you can see them. you buy at the "5" and take profit at the "$"









there are more. these are just a few.

[GigGun]

I would be weary of anything promoted at FF! They have a new policy allows promoters to open multiple usernames and posts to support their own products, It’s becoming a snake oil used car sales men over their, pay the admin/mod's and you to can market anything

[clam61]

not sure about FF. i remember they were pretty strict. i wanted to open a new username for another person in my house, but since we came from the same IP were not allowed to.

anyways, im not bill wolfe or affiliated with him. you can check bill wolfe..he has name recognition. wolfe waves aren't some crap some guy made up.

[clam61]

the latest one. very quickly into profit. you set your stop to break even and just relax as it hits your profit.

[clam61]

this is a better pic

[clam61]

Originally Posted by ampris2000

so what would you have drawn when the nzd/usd dropped like a rock several months ago? just asking.

was it a failed wolfe wave?you want to post a chart?

[mikead_61]

wolfe waves is a legit trading method, it's not a scam or promotion, linda raschke mentions it in her book

[clam61]

i do want to add, however, that linda radshke has some incorrect examples