http://www.alpari.co.uk/en/market-an...ory/index.html

I had a quick read through and it sounds very impressive. what do other people think? is it good? has an AE been done before based on this theory?

I thought it is similar to FractalsEdge software (which is what I am hoping). I have not heard of an EA, but would be interested in one if provided.

Is there a place I can download his book? You can PM me with it...

Any success in building an EA?

There are many different EAs for Williams rules. All of them are similar in one - losing money. Here it is the one of them - http://forum.mql4.com/ru/5289 . Look at the bottom - ID_1.mq4 (direct link http://forum.mql4.com/c/forum/2006/12/ID_1.mq4 - I'm not sure if it works from other sites)

The problem is some of his technical tools are really questionable. His fractal theory to me is quite flawed
and the Alligator is too subjective and not usable at all on lower timeframes in my opinion.
Even the AO (his best indicator) is just a variation of MACD.

None of his books are true books about 'Chaos' theory either. They are merely books about trading.
He makes some conflicting statements as well....e.g 'Traditional technical analysis doesn't really work' and
then goes on to describe AO which is just MACD in disguise. Right on.

Having said all that I still quite like them for the trading psychology/philosophy side of things....

I would not trade using williams and those theories. ...

Chaos Theory Overview Alligator and Gator Market Dimensions:
FractalsAwesome Oscillator (AO)
Acceleration / Deceleration Oscillator (AC)
Trading in the ZoneBalance Line Trades
Exit the Market Market Facilitation Index (BW MFI)

Bla, bla, bla. Its amazing how these sites show you the "perfect" uptrend and downtrend to show how you make tons of cash. Hmm. selling a book perhaps? Trading is about the first 2 hours of any market open and s/r. By the time you got this junk on your chart your account would be wiped out.
when these guys start talking about getting within 1 pip, thats the only time I would start listening.

If what all say is true of his system then I don't understand how anyone can say his book is invaluable. Do you think its still worth it for me to spend the money on his book?

from what i can tell, this is education and not a trading plan. There is plenty of education on the net...just my 2 cents . If you have more room on your shelf .. have at it .

Easy answer.

First, to become a critic you need to read all books of BW and have a general knowledge about his trading style.
The first step for any approach with sense.

Let´s say you want to buy XYZ book in amazon and before you read the customer reviews. There are 3, 2 bad and 1 good.

You would have an idea about what these people things of the book. However you don´t know any about these people, studies, experience, age, personal history.
IE: Maybe one of them is a philosophy teacher angered because they can understand this high level maths book

And what is bad for two of them could be extremely good for you.

I always remember a research work in the university a couple of years ago about health and government budget .
The women in charge prohibited us to use internet except for send emails. The idea behind is to exclude all foreign thoughts/works which can influence your owns.

A teacher in the preparatory said to us: Never trust in something with the eyes closed. I does not matter what I can tell or teach you if you can't make your own conclusions about if it right or wrong.

Some tips:

The initial book is from early 90´s, beginning of the bull market in shares and futures.

BW recognizes today trends are less present in the markets. Because that is the update of the first book Trading Chaos Second Edition and developing new ideas.

Second, in all three books you learn to trade been a trend follower or a breakout trader using his tools.

Alligator is a typical trend following tool meanwhile fractals is breakout tool.

The divergence bar is a invaluable tool in any market for all traders, he called wiseman 1, Demark called buy/sell pressure, Dinapoli called Rail Road Track, etc

Third, the only invention of BW is the MFI, useless in forex because we don´t have volume.

At first view the system looks amazing, but against "forex sellers" opinions, currencies do not trade in long trends more than shares or futures, in fact they´re do less. And, like 90% of systems, BW method works great with strong trends

Justine, his daughter, said BW do not trade forex.

Take a moment to thing a little. There´re 4000 shares "only" in US market, dozens of commodities, against max 10 (blue chip tradeables) currency pairs.
Is bit more easy to find a daily trend between 4000 than 10.

The system is good? maybe, bad? maybe.

Go to visual tester and take your own conclusions.

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