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i just had a look at the Woodie Ghost signal .......
It is very different to what I do because Woodies Ghost is not Elliott Waves Formatrions .
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There seem to be much written and dedicated to Woodies CCI in this forum
This is an article that is posted in one of the threads
notice how its talking about training your eye
#5 - Woodies CCI Ghost Trade Pattern: Ghost article
The Ghost Trade pattern has 3 bumps in it. It has an arm, a head and then another arm in its pattern. The bumps used to spot this pattern can be made from the CCI or the TCCI. However, most people use CCI bumps for this pattern. It is preferable that the head is larger then the arms. To determine the entry point for the Ghost trade you draw a trend line across the underside of the Ghost across its neckline.
You can gauge the expected CCI movement for the Ghost Trade by measuring the distance from the top of the head to the neckline. The expected movement would then be a movement of that same distance from the neckline in the opposite direction to that of the head. You do not need to bother calculating the potential CCI move from the neckline as you will be exiting the trade as soon as the CCI gives you an exit signal anyways. All you need to do is follow the exit signals as defined in Woodies CCI.
Notice that when you draw the neckline (trend line) on the Ghost pattern you combine a trend line break (TLB) pattern along with the Ghost pattern which adds strength to the signal for a greater probability of success. Sometimes the neckline will slant toward the zero-line. These are the preferred Ghost patterns over the ones in which the neckline slants away from the zero-line. However, both are fine to take. The Ghost Trade is a counter-trend trade. New students of Woodies CCI should not be taking this type of trade.
However, keep your eye on it and learn as you progress.
The yellow lines show the CCI pattern. The single white lines show where the entry would be and the double white lines show where the exit would be.
Notice how all the necklines slant different ways. Some slant toward the zero-line and some away from it. Do not let this confuse you. Just enter the trade once it breaks the neckline, which is otherwise known as the TLB CCI pattern as well. This is yet another example of how the CCI patterns can and quite often do run together.
Be aware that the majority of the drawn Ghost pattern must be on the same side of the CCI zero-line. Sometimes a bit of it does form on the opposite side. This is perfectly fine if it is only a very small portion.
The exit signals are the same as in any other trade. Go review the section on how to enter and exit trades.
It is very important to remember that when you take one of these trades it does not mean you are supposed to stay in it forever. Always follow Woodies CCI exit signals.
did you seriously took this trade with all that trendlines and with the help of that URL or is it another after the fact trade. I am still trying to understand your style here?. and about MT predictor i think it sucks why would you think it works better when all does produces is an A-B-C pattern. Is it hard to do that using Metatrader Zigzag? oh yeah someone needs to program it are correct?
Hi Guyver
the moderator has given this thread 5 stars yesterday
Wow , this is a young thread .......... Why did they do this ? ...... What are they thinking ?
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Any way ,
about the mtpredictor software ...............
Does any one else in here use it ? .... What is your experience with it ?
Hi Guyver
the moderator has given this thread 5 stars yesterday
Wow , this is a young thread .......... Why did they do this ? ...... What are they thinking ?
--------------------------------------------------------------------
Any way ,
about the mtpredictor software ...............
Does any one else in here use it ? .... What is your experience with it ?
Mt-predictor, well i personally think it sucks . Let me know why you think it's good?
is it because of what? ... position sizing ,, a programmer can write the same code in MT4.
mt predictor charging $1600 for that software is pricey
especially when these are programmers who can write it in here
as you are saying is absolutely the truth ..........
mt predictor is definately overpriced -
- it should be $500 or less so more people can get it .....
/////////////////////////////////////////////////////////////////////////////// but there is more there
mt predictors strength is in 2 major things
#1 The Scanner
you can scan many markets at once and get a list of all the harmonic patterns and Elliott Wave 4 s and and Wave C s
that are happening right now in real time along with where to buy and where to put your stop and where to expect a target
and yes, also with audio alerts where you dont have sit and watch the computer screen all day . ( Show me an MT4 Eld or MT4 program that can do that if you will )
#2 ..........Thier understanding of RISK TO REWARD
along with what's called Position Sizing !
without this understanding you are doomed as a trader because
no one gets it right on every call ...........
*(In fact , mtpredictor tells you that if you just trade these harmonic patterns and Ellott Waves
formations by them self you will only be correct a mere 30% of the time )
So , IN THE END
It all comes down to yourAverages . ....
mt predictor charging $1600 for that software is pricey especially
when these are programmers who can write it in here as you are saying
is absolutely the truth ..........
/////////////////////////////////////////////////////////////////////////////// but there is more there
mt predictors strength is in 2 major things
#1 the scanner
you can scan many markets at once and get a list of all the harmonic patterns and Elliott Wave 4 s and and Wave C s
that are happening right now in real time along with where to buy and where to put your stop and where to expect a target ( Show me an MT4 Eld or MT4 program that can do that if you will )
#2 ..........Thier understanding of RISK TO REWARD
along with what's called Position Sizing ! withoutb this understanding you are doomed as a trader because no one gets ut right on every call
so in the enbd
It all comes down to yourAverages .
About Point1:
Scan many markets? what is so hard to put a zigzag on Mt4 chart and say this is your A-B-C pattern. put your stop here and there are your targets i mean come on!. do we really need to have an automed program paying for 1600 USD as you said. for this task.
I said a programmer can do it easily not that it is available. In my knowledge i don't know but i would not pay 1600 USD to find ABC pattern which can be easily taken out from Mt4 zizag.
About Point2
Yes, so why do you need Mt-predictor for that? don't be lazy really you can do that on a piece of paper as well.
$1600 is too much ......... No argument from me there
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With MT4 you definately can put it on say 10 diffrent markets and maybe even get the alerts going ,
but you have to click over to each individual chart to see whats going on
( with mtpredictor you get a list real time )- No need to click over to individiual charts to see
Currently , none of the harmonic attachments in this forum offers an alert with the the program ,
so you are a watch slave to your computer
do you know any harmonic program in here that has been written and available for download right now
and has the alert built in it already ?
$1600 is too much ......... No argument from me there
//////////////////////////////////////////////////////////////////////////
With MTt4 you definately can put it on say 10 diffrent markets and maybe even get the alerts going ,
but you have to click over to each individual chart to see whats going on
( with mtpredictor you get a list real time )
but currently none of the harmonic attachments in this forum offers an alert with the the porom , so you are a watch slave to your computer
do you know any harmonic program in here that has been written and available for download right now has the alert built in it already
No ,
prove me wrong //////
first i need to understand one thing here.
We should choose Mt-Predictor over harmonic pattens written by nen. which shows by the way a-b-c patterns if you look for gartley's .. Only because Mt-predictor has built-in alert???..
wait i need to get another glass of votka. while you think over this.
We should choose Mt-Predictor over harmonic pattens written by nen. which shows by the way a-b-c patterns if you look for gartley's .. Only because Mt-predictor has built-in alert???..
wait i need to get another glass of votka. while you think over this.
No thats not what im saying at all ................
The scanner is a great tool developed over there
it gives you the ability to scan for all harmonics patterns in multiple markets at once just wait for the alert ,
and decide ton take the call based on the automatic entry , stop and target that shows up on the chart
This is only 1 of the 2 mtpredictor strength
Again, none of the harmonic attachments in here tells you where to enter, and where to put your stop, and where to put your target
No thats not what im saying at all ................
The scanner is a great tool developed over there
it gives you the ability to scan for all harmonics patterns multiple markets at once just wait for the alert ,
and decide ton take the call based on the automatic entry , stop and target that shows up on the chart
This is the mtpredictor strength
Again, none of the harmonic attachments in here tells you where to enter and where to put your stop and where to put your target
i would call this feature. a luxury feature .. that's all .. by the way with harmonic pattern indicator it provides for now the range where you should be entering the market. About Tp and position sizing yes you are correct that feature is yet not made available from nen. Perhaps he will in the future. I dont think it is a must to trade you can have tp's in your mind for now.
or is it another after the fact trade. I am still trying to understand your style here?. and about MT predictor i think it sucks why would you think it works better when all does produces is an A-B-C pattern. Is it hard to do that using Metatrader Zigzag? oh yeah someone needs to program it are correct?
..
Linear Mode
