I couldn't agree more. I'm getting quite tired of hearing about how martingale system "can't" make money, all the while I'm seeing my demo accounts continually rising when managed by one. By now, EVERYONE knows about the potential risks.
Mechanical or discretionary?
In the system document it says to "Choose any wave limited by 2 fractals" when making the fibo lines. What is a wave defined as, or is this where a trader's discretion comes in?
well, it should refer to the seed wave.. the initial wave.. the first swing of a move.. impulsive or corrective.. this is what i understand n have been practising.. however, zapata might have his own definition regarding this..
how about using zigzag?
Initial grid length
Hi Ryanklefas & everybody
About the initial wave length. Just open your PC, Choose any wave limited by 2 consecutive fractals (tiny, large, medium), attach the adaptive abdullah grid & you will get your profits as soon as the market retraced. It's already a discretion entry since you are using a fractal decision limited by supports & resistances. From my experience, the tiny waves are more profitable then large an medium waves & less time consuming & time is money.
Another thing I want to talk about is the use of EA's, I disagree the use of EA's for live trading since it's liminting your mind potentials because by now I have a dozen ways to implement the Adaptive Abdullah grid in profitable ways. In the other hand I agree the use of EA's for backtesting.
I would like to know how can I get historical data on my 15M charts before the famous September 11 because I would like to test my system performance at that time.
For everyone who wants to help me, if anyone happens to spot any catastrophic market condition which can blow an account using my system please post it in this thread so we can add filters to overcome this difficulty. Myself, I didn't spot any of these catastrophic situation.
About the use of ZIGZAG. The zigzag is a powerful tool for traders. But, by just joining the fractals highs to lows by lines, you will get the most perfect zigzag. By definition the fractal will lag only during one period & not like the original zigzag performance.
Please read again this paragraph which I posted earlier in this thread:
"Back to the elliott wave theory, if I entered the market at wave 2 retracement, I will exit the maket at wave 4 retracement. If I entered the market at wave 4, I will exit the market at wave 1 new stage reversal. This is for 1,2,3,4,5 wave. For the a,b,c wave: I will enter at wave b & exit at wave 1 after trend resuming (or ride wave 1 till wave 2). If I entered at wave 1,3,5,a,c this will be even better, it means that I'm getting my profit at the first gear : I have 2 options now, I may take the profit or ride the impulse wave by introducing a stop at breakeven after reaching profit target 1 & moving the stop to target 1 after reaching target 2 until stopped out."
meaning choose any wave 1,2,3,4,5,a,b,c & apply my system. Isn't beautiful to have a system who can make you ride any type of wave with profit?!!!....
Is the attached picture a correct example of a fractal wave? I hope it is big enough for everyone to see.
That's the way it should be.
I inserted the same chart to explain the entry after applying the adaptive abdullah grid.