Skip to main content

Erik Asks a series of Questions!!! I reply with thanks...

Erik: "hello and thx for this great exemple..."
Me: thank you,  my Pleasure Erik!
I have few questions regarding Entry Set up:
1)Would you not use Wiseman1 and WM2 as its a contretrend technique and it means that entry point is far away from red line and ZL? Am I correct?
Me: We dont use counter trend techniques. My understanding is that the first step is to understand that the market is structured. It has a structure. that structure is the EW, then EW has a structure that is AIMS. So our job first of all is to trade "With the Trend" following the structure of the market. In doing so we would be able to "change" our under-lying structure and hopefully be "in-tune" with the market. This effectively will help us achieve the Holy Grail, that is "Want what the market wants". 

Once we have mastered this, we could look into trading reversals. So No we dont use WM techniques for now. 

2) Do you use any technique for new entries while you are in long bearing (bullish) trend in order to pyramid?.
Me: We only add on using AIMS levels. But for beginners we dont recommend that. We have to prove (not to anyone else but yourself alone) that we satisfy the requirements of being a Beginner then an Advanced Beginner trader. Which means to be able to stay through entire sequence of 1-5 on any time frame of your choice. once we hit that, and keep doing it consistently we could perhaps look into "Trance-Ending" experience and somehow jump into the next "trance/level". The competent trader. Since trading is 90% mental and the mind has alot of "issues" that we have to deal with, it would be counter productive to subject our minds to 2,3 or more pressures before it is properly trained to deal with one issue, ie. how to stay in during the entire sequence of 1-5. This could be staying through Wave 3 of chosen time frame using 1-5 on certain lower time frame or staying through 1-5 on your chosen time frame without going a step up or down. I hope it makes sense. 

For exemple in EU/US today with 400pips, would you just have only one entry at the break of AIMS level?
Me: we would have added on every fractal.
3) AIMS level, the limits are fractals but no matter where they have been set up including Inside the alligator?
Me: sorry I didn't quite get that.
Thank you very much for your help

and some more....
Me: its ok Erik keep em coming. In fact I love questions. Reason being, we are energy beings. and energy is only useful when its focused. Questions bring attention and focus to stuff that I some how forget to bring in to the concious mind. These questions help me bring them back in to life. So thank you and please ask more more more and some more ...

P.S.: 4)for entry setup you would look at the alligator sleeping while in BW New Trading strategies, it is said that this is ranging market and we should stay out the market…Is it in order to pick up an early wave 3 or 5?

Me: Again, I'd say many people are under the impression that the 3rd book meant markets have now so changed that trend trading does not apply. In fact in their most recent interview with one of leading magazine they comprehensively said something like this, oh yes we certainly are trend traders but we "also" have a very good reversal techniques. So, they are "firstly" Trend Traders with a  very effective strategy for Reversals as well. They say the adopted the reversals because markets have changed and now we see more reversals as compared to in the past. Yes, when alligator is sleeping you stay out of the market. But what you do is you bracket the outer most fractals. The longer the alligator sleeps the hungrier he's going to be. We dont want to miss that action do we? 

So Yes, that is to catch (Grounded) the next impulse wave perhaps a possible 1-3 or 5th , a or c wave. (ungrounded) 

5)I see that you trade very low TF (M1 or M5) do you look at higher TF first and then zoom until the lower TF in order to count waves as it said in BW trading chaos ed1?
Me: We trade M5/M1 combination as introduced in EUR/USD Strategy above. We can use the same strategy for any time frame combination such as H4/H1 , H1/M15, etc.  (this answers another question by another good person from somewhere).  
During trading M5 and M1 we dont always have the luxury in our time-space reality to check whether 1 is 1 or not by going down to count waves. I have a remedy for this. When AO is clsoe to ZL you will find your 1-2 in that area, with or without seeing it. 
Sorry for all these questions and thanks again
Me: I thank you my friend.
P.S. how i can login in your blog?
Me: I have no idea tbh, Haha! 

A Quick Attempt While Answering your Questions. 

Popular posts from this blog

Count Elliott Wave within 10 Seconds

After Reading this material you should be able to do the following:
Objective 1. Understand Elliott WaveObjective 2. Count Elliott Wave within 10 SecObjective 3. Learn how to use AO
Objective 1

What is Elliott Wave? 

We believe the market has a structure. That structure is Elliott Wave. We also believe that the structure also has a structure and that structure is shown to us on our charts by using our indicator AIMS Levels. EW consists of impulse waves and corrective waves. We are interested in trading the impulse waves and avoid the corrective waves.

Which wave is most profitable and easy to trade?   

Wave 3 is where we make money. Our strategy puts us right into the impulse waves, where the money is made.

Hypothetically, this is how Elliott Wave looks like.

Within each Impulse wave there are 5 waves.  of which wave 1,3,5,  are again impulse waves whereas wave 2 and 4 are corrective waves.

An impulse wave consists of sequence of 5 waves starting from 1 up 2 down 3 up and 4 down an…

Count Elliott Wave in 10 Sec

Example of Setup 1 and Setup 2. In the Chart below the blue arrow that point to the Red Dot is the spot which we Call Setup 1. The next AIMS/Fractal Level immediately after it broke down is what we call Setup 2. At the Red Dot alligator was sleeping. While at the second break Alligator mouth was open to the downside. 
Updated 11:00 BST

How to Trade Wave 3 Make HUGE PROFITS

The most important thing I learned few years ago was that the market was a wave. Well not the market, but the charts that we look at. It always moves in waves. Someone actually named them after themselves but we don't really need that lovely name (Elliott Wave). Because we don't need to complicate things.

When I talk about waves, I don't mean the popular Elliott Wave. I mean the WAVE we have on the most beautiful indicator called, ahem it has many names, AO, The Awesome Oscillator, The eWave, AIMS Wave etc.  It helps us see the market in a smooth wave going above and below a certain Zero Line. .. It helps you ignore the going up and going down of the price concept. For us technical traders, we don't have an up and down as such specially in forex. All we see is eWave turning Red or Green.

Assuming you already know a bit about the wave. I know most of you will want to know the answer this fantastic question. How to trade the third wave?

They all ask that question, and s…