DislikedAs from the pic..u wil Short @ red line.,,,
I guess u earned few nice pips..at least 50 pips .but in D1 TF, it is still uptrend..and I am in for D1..
Good Job!
SonicIgnored
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DislikedAs from the pic..u wil Short @ red line.,,,
I guess u earned few nice pips..at least 50 pips .but in D1 TF, it is still uptrend..and I am in for D1..
Good Job!
SonicIgnored
DislikedI almost cry this is so hard i have read the pdf that i was given but i dont understand how to draw the lines and i dont understand how to use the gator what i have seen this is crusial to the system because otherwise u get many false wisemen and when you taxgeek start talking about EWT then teardrops really start to fall maybe im stupid but why must it be so hard for me to understand this ??
best regardsIgnored
DislikedYour uptrend on the daily is currently composed of a doji and spinning top. At least on my ibfx chart. That doesn't look exactly favorable. Haven't earned a thing actually. Did get the SAO signal. I'm just waiting for it to move down. Will it? Don't know. We shall see what we shall see.Ignored
DislikedI dont see what the gator does he describe it yes but how to use it ??
and the lines you shall draw from wiseman 1 is hard for me to understand.
best regardsIgnored
Bill Williams
In principle, Alligator Technical Indicator is a combination of Balance Lines (Moving Averages (mk:@MSITStore:C:\Program%20Files\FXDD%20-%20MetaTrader%204\terminal.chm::/ug_ind_moving_average.htm)) that use fractal geometry and nonlinear dynamics.Lips, Teeth and Jaw of the Alligator show the interaction of different time periods. As clear trends can be seen only 15 to 30 per cent of the time, it is essential to follow them and refrain from working on markets that fluctuate only within certain price periods.
When the Jaw, the Teeth and the Lips are closed or intertwined, it means the Alligator is going to sleep or is asleep already. As it sleeps, it gets hungrier and hungrier — the longer it will sleep, the hungrier it will wake up. The first thing it does after it wakes up is to open its mouth and yawn. Then the smell of food comes to its nostrils: flesh of a bull or flesh of a bear, and the Alligator starts to hunt it. Having eaten enough to feel quite full, the Alligator starts to lose the interest to the food/price (Balance Lines join together) — this is the time to fix the profit.
Calculation
DislikedTaxgeek thanks for trying to explain to me can you show with a chart or something also my EWT is not good i just now little what it is all about do you recomend that we/ or i read up on EWT also to better se the whole picture ? and if so is a a easy book or site to learn from on this ?
Also what winning percent do you have on your trades using this system ? it sounds by the way you talk that you have a pretty high win ratio, just curiuos
best regardsIgnored
DislikedTaxgeek, thanks for your explanations. I tried to backtest the strategy manually in EUR/USD. In theory it looks always good, but in practice it is a little more complicated .
For instance I have always difficulties to identify wiseman 1... sometimes it is just right when the price is in a range, diverges from the blue alligator line and comes back to form a new trend. But not always. The same for the fractals. There are many of them when the alligator "sleeps". They are all outside the alligator, thus being valid in some way. Sometimes it works fine to trade them, when the price breaks out of the range, but sometimes the price just makes a higher high (lower low) and continues sideways - leading to stop out. On the other side, when you trade the fractals only in trend, you miss out a lot of the move. Sometimes indeed all of it.
Also it is hard to identify in which Elliot wave you are, when you don't know the right side of the last price. All of this is always easy when the chart is "complete"...
A question: what do you use as exit strategy? Do you close the positions by "gut feeling" or do you have hard rules for exit?
TIAIgnored
DislikedI Have looked at EWT for some years ago but then i thout it was HARD verry hard to grip and to understand my best learning skill is not in reading but in doing things or have some one told me how to do it.
I aboned EWT before thinking i could do alsmost as good with mutch simpler things like indicators or price patterns but no im not sure maybe i shall go back and have a look at EWT again by the way i have glen Nelys book of EWT what do you think about that one ?
best regardsIgnored
DislikedTaxgeek, thanks for your explanations. I tried to backtest the strategy manually in EUR/USD. In theory it looks always good, but in practice it is a little more complicated .
For instance I have always difficulties to identify wiseman 1... sometimes it is just right when the price is in a range, diverges from the blue alligator line and comes back to form a new trend. But not always. The same for the fractals. There are many of them when the alligator "sleeps". They are all outside the alligator, thus being valid in some way. Sometimes it works fine to trade them, when the price breaks out of the range, but sometimes the price just makes a higher high (lower low) and continues sideways - leading to stop out. On the other side, when you trade the fractals only in trend, you miss out a lot of the move. Sometimes indeed all of it.
Also it is hard to identify in which Elliot wave you are, when you don't know the right side of the last price. All of this is always easy when the chart is "complete"...
A question: what do you use as exit strategy? Do you close the positions by "gut feeling" or do you have hard rules for exit?
TIAIgnored