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Profitunity (Chaos) Trading System by Bill Williams

  • #881
  • Sep 1, 2010 8:34am Sep 1, 2010 8:34am
Quoting Wab
Here is my hourly count for the Euro. Maybe it will help?

Check the count against the AO to see if it is correct when ever you can. The very last label II is one I am not comfortable with.

Good luck.

http://www.elkvalleygold.com/Forex/F...D%20M60%20.jpg
Unfortunately, I dont know what the count on Ao is. I just ordered the BW books from amazon... this should help.
Whats most surprising, is that the BW system is not covered in the Ninjatrader site like it is here.
  • #882
  • Sep 2, 2010 3:02am Sep 2, 2010 3:02am
anyway .. i would like to know how to put Stop Loss and Exit / Taking profit strategy using this Chaos system...

I did fractal and the result is good but I have trouble with the SL and TP at the moment.

and could the alligator detect whether the market having whipsaw or not (when to stay away from the market)

like today in Euro USD we got so many false signal
  • #883
  • Sep 2, 2010 3:29am Sep 2, 2010 3:29am
Quoting nightingale
anyway .. i would like to know how to put Stop Loss and Exit / Taking profit strategy using this Chaos system...

I did fractal and the result is good but I have trouble with the SL and TP at the moment.

and could the alligator detect whether the market having whipsaw or not (when to stay away from the market)

like today in Euro USD we got so many false signal
You are familiar with the COMPLETE system? I can`t confirm "many false signals"

Regards

Forex37
  • #884
  • Sep 2, 2010 9:39am Sep 2, 2010 9:39am
Quoting nightingale
anyway .. i would like to know how to put Stop Loss and Exit / Taking profit strategy using this Chaos system...

I did fractal and the result is good but I have trouble with the SL and TP at the moment.

and could the alligator detect whether the market having whipsaw or not (when to stay away from the market)

like today in Euro USD we got so many false signal
guess you're in wave 4, try reading trading chaos 1st ed on the elliot wave section,it's really helpful.

on timeframe did you trade the euro?

for stop loss i like using one tick above the highest from 5 previous bar and one tick below the lowest previous 5 bar low when buy. Same when i'm taking profit... or if you think the price is moving too fast and too far away from the alligator, better take the profit... this work for me...
  • #885
  • Sep 2, 2010 10:29am Sep 2, 2010 10:29am
Quoting alligator
guess you're in wave 4, try reading trading chaos 1st ed on the elliot wave section,it's really helpful.

on timeframe did you trade the euro?

for stop loss i like using one tick above the highest from 5 previous bar and one tick below the lowest previous 5 bar low when buy. Same when i'm taking profit... or if you think the price is moving too fast and too far away from the alligator, better take the profit... this work for me...
ok thank you ... just got that book yesterday and still reading it.

I use H1 for entry (using fractal or AO) and on TF 15M to get out the market.

so far using fractal and AO still produce good results. but still have problem with exit too soon or too late lol ...
  • #886
  • Sep 4, 2010 5:46am Sep 4, 2010 5:46am
for the fractal, which timeframe did you used ?

sometimes we just break the fractal but after that it bounce back inside the fractal (not as sweet as we saw in the book)

I put buy/ sell 3-4 pips above/bellow the fractal. but the prices seems to bounce back ... I am using h1 and sometimes h4 fractal.
  • #887
  • Sep 4, 2010 10:12am Sep 4, 2010 10:12am
If you have the correct fractal, you can try and entry 0.618 to 0.768 back for the fractal that you plan to enter from but you are best using the system as it is int eh book until you understand it better.
  • #888
  • Sep 5, 2010 10:46am Sep 5, 2010 10:46am
anyway .. which book I should get :
1. trading chaos 2nd edition
or
2. new trading dimensions ?

I have the trading chaos 1st edition but it didn't go deep with 5 dimensions. in trading chaos 2nd ed someone told me that they give more than 5 dimensions right ?
  • #889
  • Sep 5, 2010 1:00pm Sep 5, 2010 1:00pm
Trading Chaos is all you really need to get going, if you don't understand it and try the ideas out then the second and third books won't help you. You need to master the ideas in Trading Chaos first - in my opinion anyway.
  • #890
  • Sep 6, 2010 1:23am Sep 6, 2010 1:23am
Quoting nightingale
anyway .. which book I should get :
1. trading chaos 2nd edition
or
2. new trading dimensions ?

I have the trading chaos 1st edition but it didn't go deep with 5 dimensions. in trading chaos 2nd ed someone told me that they give more than 5 dimensions right ?
i recommend trading chaos 1st edition, and read only the Elliot wave section and then you can use what in the 2nd edition at the end of a wave.
  • #891
  • Sep 7, 2010 8:56pm Sep 7, 2010 8:56pm
asking about ao

http://img825.imageshack.us/img825/9882/askaoff.png


the AO give signal buy if the price move up the green candle. but the trend is bearish and the price is still inside alligator mouth. should I put buy stop on that position ?
  • #892
  • Sep 8, 2010 8:31am Sep 8, 2010 8:31am
  •  Nimrod
  • | Joined Oct 2008 | Status: Energy and persistence conquer all | 168 Posts
Quoting nightingale
asking about ao

http://img825.imageshack.us/img825/9882/askaoff.png


the AO give signal buy if the price move up the green candle. but the trend is bearish and the price is still inside alligator mouth. should I put buy stop on that position ?
The 2nd edition is all you need.Price is inside the mouth while the twin peak signals the action.would you do anything near the alligator mouth? It can bite you there.So be careful.Wait for a better signal, such as when price is above or below the mouth, then if any other signal generated, then only you act the trade.
There is no need to use the gator indicator.
  • #893
  • Sep 30, 2010 10:39pm Sep 30, 2010 10:39pm
no buy
the gator just filled out,hes not hungry anymore
http://img405.imageshack.us/img405/7...tgatordoes.png

Gator Awakes
- when after sleeping one of the indicator bars is red and the other one is green (either above or below zero)

Gator Eats
- when both bars (above and below zero) are green.

Gator fills out
- when after eating one of the bars turn red.

Gator Sleeps
- when both bars are red.

to me this is the best indicator in the forex world,very accurate,i use it in meta trader 4,(if u use meta trader 4 ,right click on the chart,select template williams)

if any of u wanna learn about this u get can free ebook on torrentz.about the bill williams chaos theory

info. http://forex-indicators.net/bill-wil...tor-oscillator


it is also good to look at charts in different time frames (5min-15min-30min-1hr) i use this,
to choose the right time to trade,look at all charts,when they all fit in,gooo

http://img338.imageshack.us/img338/2007/billjrh.jpg
  • #894
  • Oct 1, 2010 12:45pm Oct 1, 2010 12:45pm
Hi

I believe that Bill Williams has got the structure of the market right. I love this system. However being a believer in simplicity my approach is a bit simpler. Here is what I did this morning using Alligator and my MACD that IMO does better job then AO. The shaded are is my indicator that i call AIMS Levels. I only trade on the break of AIMS Levels which ever side the alligator opens its mouth.


http://bayimg.com/oApncaACh
Attached Image (click to enlarge)
Click to Enlarge Name: Understanding Profitunity Alligator and Wave 3 Trading.gif Size: 87 KB
  • #895
  • Oct 1, 2010 10:04pm Oct 1, 2010 10:04pm
the moving averages help alot in ur chart youzaifi

heres what my trade looked like yesterday

http://img815.imageshack.us/img815/3209/usdpy.jpg

closer look

http://img834.imageshack.us/img834/1469/closeu.jpg


when the aligator got tired the greens in the AO stopped showing and a new trend of reds arose,he fell into sleep,then in the gator i saw that the aligator was waking up so i closed ,good decision since it went up,the aligator got filled up with all the pips he ate,and went back to sleep again ,and there goes another day of the bill williamse's alligator
  • #896
  • Oct 2, 2010 7:49pm Oct 2, 2010 7:49pm
Nice chart Yousafzi.

Would you mind sharing the indicators and explaining the AIMS idea a bit?

I use a traditional 5 34 5 macd as well as Elliott wave software (ElWave.) Pretty hard to do any better than Bill Williams ideas.
  • #897
  • Edited Apr 28, 2011 10:45pm Oct 3, 2010 5:07pm | Edited Apr 28, 2011 10:45pm
Quoting Wab
Nice chart Yousafzi.

Would you mind sharing the indicators and explaining the AIMS idea a bit?

I use a traditional 5 34 5 macd as well as Elliott wave software (ElWave.) Pretty hard to do any better than Bill Williams ideas.
Hi Wab!
AIMS is my indicator instead of Fractals. I dont like the up and down arrows. Plus I dont want to trade within this zone. I like the price to be out of the AIMS Levels. AIMS is based on BW's Fractal. I take trades above/below the first Fractal out of the Alligators mouth when it sleeps or dozes off. SL on the other side of AIMS. Unfortunately I cannot share the MACD because that does not belong to me and is a part of another software although I can share ex4 for AIMS.

btw I dont think Chaos can be spotted with linear machines but just out of interest would love to know how good is the ElWave in your opinion?

cheers
  • #898
  • Oct 3, 2010 9:08pm Oct 3, 2010 9:08pm
in my systems i use (dbfx)stoshastic ,and volume +on mt4 platform i use the bill williams template and those 2 fit right in ,they are pretty good
  • #899
  • Oct 4, 2010 6:13pm Oct 4, 2010 6:13pm
One of the drawbacks of MT4 is the linear scaled charts. ElWave can do both linear and semi-log analysis, so we will see how that goes. It can also be plugged into some FX feeds and do live EW counts in any time frame. I tried that for a while, but I prefer longer term charts and having minute by minute stuff happening was not suitable for me.

I run ElWave and simultaneously independently do my wave count using the BW method with the 5 34 5 MACD or the AO. Then I compare my BW count to the selected ElWave one. If they agree, then I feel confident that I am on the right track. If they do not agree, then I start to check back and forth in the alternative ElWave counts until the BW method agrees with one of the counts or I stay out if I can't find a verified solution.

ElWave is purely mathematical and gives you the possible wave counts in ranked order of how each fits all the rules. It provides an unemotional, rational, logical, mathematical count of the preferred wave structure and ranks the alternatives based on how well they fit the rules.

I look for higher time frame counts that I think are very good, then I try to trade the wave structure inside a suitable wave on a lower time frame.

Anyhow, stay tuned, will start an Elwave thread as soon as I get some other stuff done.
  • #900
  • Edited 11:13pm Oct 4, 2010 10:57pm | Edited 11:13pm
Quoting Wab
One of the drawbacks of MT4 is the linear scaled charts. ElWave can do both linear and semi-log analysis, so we will see how that goes. It can also be plugged into some FX feeds and do live EW counts in any time frame. I tried that for a while, but I prefer longer term charts and having minute by minute stuff happening was not suitable for me.

I run ElWave and simultaneously independently do my wave count using the BW method with the 5 34 5 MACD or the AO. Then I compare my BW count to the selected ElWave one. If they agree, then I feel confident...

HI,

Very interesting stuff you have here. Thanks for the info. I'm curious though; what's the difference between the 5 34 5 MACD and BW's AO indicator? I thought they were the same thing.

BTW, the ElWave, does that work with Metatrader?

Thanks
RD
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