I see he violates one of his own key rules from his site..
None of which is of any value whatsoever unless you can manage your money. I have two simple rules. Love your losses and be a pig. That's it. By "love your losses," I mean take 'em and take 'em fast, without exception, and be thankful for them ...because if you are taking them, you're betting smart. And you're winning. You can take 5 little losses and get one big win and be ahead. Which brings me to the pig rule. If you don't let your wins run, you'll have a hard time keeping afloat. THIS IS PROBABLY THE GREATEST VALUE OF EWAVE. It gives you the ability to hang on to something close to the maximum. It lets you be a real pig, without getting slaughtered, staying between (and out of) the ditches.
...which of course makes him more of a discretionary trader. So if you subscribe I guess it would make you wonder if he followed his own advice. Would I subscribe? Perhaps, if I wanted another opinion. It might be worth your while to use him as a sounding board to bounce your own thoughts off.
Some things he said puzzle me, he referred to getting "stopped out by the Globex thieves...". Perhaps LFG allows him to have stops on Globex but my broker does not. I did not think stops were allowed on Globex.
Anyway, I'm not an E-Wave fan or detractor. Although the gist of what he says makes sense to me I don't employ systems I don't understand. That should be a general rule for anyone. He took off the trade on Friday's close for example. Perhaps there is a rule for that in E-Wave. If I did not know that one way or the other I may be left out in the cold and wondering why. Other than that, if you wanted to give it a test drive it seems okay. Let me know how you make out if you try it. |
