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Frequently Asked Questions
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Below are some frequently asked questions about the books. If you can't find an answer to your specific question, please send it to us by clicking on the e-mail link.
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Q. Is the book Secrets of Trading and Making Money specifically related to the Wave 59 software or is it more general?
Q. On the coin flip trading section are the stops specifically related to Wave 59 software or do you use indicators at all?
Q. Is there something for Forex traders or is it all stuff for futures and stock traders?
Q. I am a new trader just starting, is this book going to be hard for me to understand or use?
Q. I have been trying to trade for many years and I just can’t seem to make money. Is this book going to help of is it just another waste of my money?
Q. Which book should I buy first, I have been trading for 3 years off and on, but haven't been very successful.
Q. Well .... I have looked at your outline of the book … and I’m stuck here not knowing if it will be of any help to me?
Q. I'm relatively new to Wave 59 and I'm beginning to see the programs uniqueness. I'm considering purchase of either your Forecasting books 1&2 or the Secrets of Trading book. The challenge for me is staying with the trade. I need a good stop methodology. My entry points are good with the Lomb, 9-5 count, exhaustion bars and 14pCCI What would you suggest? Will the Forecasting books also teach stop placement?
Q. I am very intrigued and interested in the Wave59 software and the books/manuals you have written.
I am a seasoned "traditional technician" but do not have a consistent performance record.
I am looking into the world of Fibonacci/Gann/Astro/Esoterica and have come to the Wave59 material.
What would you recommend as the best way to hit the ground running in the shortest possible time:
Basically, I am looking for the best way to approach the software and material so that I can quickly get a few trading approaches that give some consistent profits, then with time dig into some of the more advanced ideas to get even better results. Your ideas and suggestions would be greatly appreciated.
Q. Can you please tell me a little more about your secrets trading book, including: Is it applicable to end of day traders? How much time is required to operate the trading system(s) in the book (each day)? Do you need to purchase your 2 forecasting books to use the system(s) in the secrets trading book?Can your system(s) be used for trading CFD's in the stock market? Any other useful information that might assist me would be appreciated also.
Q. In the book "Secrets of Trading and Making Money" does it provide an entry setup? I am interested in finding a reliable entry setup.
Q. Is the book Secrets of Trading and Making Money specifically related to the Wave 59 software or is it more general?
A. The book uses the Wave59 software to generate the examples, but the thrust of the book is toward trading (not forecasting) and is applicable using any forecasting method or software.
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Q. On the coin flip trading section are the stops specifically related to Wave 59 software or do you use indicators at all?
A. The coin flip trading example uses no indicators except price bars on a chart, and is a detailed example of using money management and stops to profitably trade a market. Most traders spend enormous amounts of time learning to forecast but never learn the basics of trading profitably.
The market only does three things, up, down or sideways. The problem traders have in recognizing this has to do with what time frame is being observed. Then, when one of the three is chosen the trader has to trade it; get in and get out with profit, or not get in at all. These are two different functions: trading is the most important, and then forecasting is next as an enhancing effort to trade better. The book is very straight forward with step by step examples.
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Q. Is there something for Forex traders or is it all stuff for futures and stock traders?
A. The book is written for all markets, and the principles of trading apply to Forex traders the same as any other market trader.
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Q. I am a new trader just starting, is this book going to be hard for me to understand or use?
A. Every new trader has a learning curve to accomplish, in becoming a profitable trader. The essentials and basics of trading should be learned first to establish a solid foundation to build from. The information in the Secrets of Trading and Making Money was specifically selected to build such a foundation.
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Q. I have been trying to trade for many years and I just can’t seem to make money. Is this book going to help of is it just another waste of my money?
A. For someone who has accumulated a lot of unsuccessful habits there are two way to change. One is to go back and try to erase all the old bad habits or to start fresh and find some that will work and use them. Trying to erase old habits is a lot of work and it doesn’t work anyway, they will always be around. The better decision would be to focus on something that will work and stay focused. To keep focusing on an unsuccessful past will only create more of it. As far as will this be a waste of money, that will be up to each persons desire to change, because the materials in the book work, do you want to? To keep doing the old unsuccessful way is probably much more costly than the purchase of a book providing the possibility of a new way.
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Q. Which book should I buy first, I have been trading for 3 years off and on, but haven't been very successful.
A. A trader should learn how to trade successfully first, then learn how to improve that trading with better forecasting skills. Secrets of Trading and Making Money first, Secrets of Forecasting second.
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Q. Well .... I have looked at your outline of the book … and I’m stuck here not knowing if it will be of any help to me?
A. I know what you mean.....I've been there-done that... What I came to see, was that when I let my mind go to the place of thinking it doesn't know what to do, I put myself into a lot of confusion and I can't operate from that frame of mind very well in the real world. So I usually let that thought go, get clear as to what I really want, and see what is real for me right now....Everything comes and goes in it's perfect time, the only thing to interfere with this is when I do the greed or fear thing.
Your first e-mail sounded full of hope..."Extremely interested in your book"... then the second one sounds of confusion..."stuck here not knowing if it will be of any help to me".... you can do anything you want....if you are clear about what you want...You can't do it from confusion. Whether the book will help or not is up to you----if you don't get it, of course it isn't going to help....if you do get it....well...of course it is going to help...everything we allow in, to aid us in the pursuit of our dreams will bring about change...even the things we are afraid of and resist so stubbornly. I'm not saying to get the book...you must open to that or not...but as a new door opens we can see what was not visible to us before.
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Q. I'm relatively new to Wave 59 and I'm beginning to see the programs uniqueness. I'm considering purchase of either your Forecasting books 1&2 or the Secrets of Trading book. The challenge for me is staying with the trade. I need a good stop methodology. My entry points are good with the Lomb, 9-5 count, exhaustion bars and 14pCCI What would you suggest? Will the Forecasting books also teach stop placement?
A. The Forecasting books are geared toward using the wave59 tools to identify what the market is doing.... the Secrets of Trading and Making Money book is specifically written to address the trading aspects of successfully getting in and out with profit (including the use of stops). I would suggest becoming a profitable trader first then refining your forecasting skills. Forecasting before knowing how to trade profitably is like getting the cart before the horse. It is very stressful and hinders the ability to learn forecasting. If you already have a successful entry method, which sounds like you do, then I would get the Secrets of Trading and Making Money book first.
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Q. I am very intrigued and interested in the Wave59 software and the books/manuals you have written.
I am a seasoned "traditional technician" but do not have a consistent performance record.
I am looking into the world of Fibonacci/Gann/Astro/Esoterica and have come to the Wave59 material.
What would you recommend as the best way to hit the ground running in the shortest possible time:
Basically, I am looking for the best way to approach the software and material so that I can quickly get a few trading approaches that give some consistent profits, then with time dig into some of the more advanced ideas to get even better results. Your ideas and suggestions would be greatly appreciated.
A. It sounds like you have a good understanding of technical analysis but you are still looking for a profitable trading methodology. I would recommend becoming proficient as a trader first (i.e. profitable) and then refine forecasting skills. The Secrets of Trading and Making Money is the book that specifically guides one through the process of finding profitability. The other books are more geared toward forecasting and would be used to increase profitability, but you need to have profit to do that....so trading skills first, then forecasting skills....
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Q. Can you please tell me a little more about your secrets trading book, including: Is it applicable to end of day traders? How much time is required to operate the trading system(s) in the book (each day)? Do you need to purchase your 2 forecasting books to use the system(s) in the secrets trading book?Can your system(s) be used for trading CFD's in the stock market? Any other useful information that might assist me would be appreciated also.
A. I have found that trading is more important than forecasting. The reason I say that, is because all you have do to make money is know when you are going the right way with the market...forecasting doesn't tell you that... It is like getting the horse before the cart...and all you really want to do is have the horse pull the cart, all you want to do in trading is make money, but what we want to do with forecasting is be right....it's a big ego trip until we learn how to trade and see how unimportant it really is. But until then, we can't see it, and we keep reading and studying and all we really are looking for is a way to see if the market is going up we buy and if it is going down we sell. It isn't rocket science to know if we are making money or not... like one of the chapters in the book; it is as easy as flipping a coin to enter and seeing it is profitable when it is traded properly. Even if you have the best forecasting method around you will still lose money unless you know how to trade.
To answer your questions...
It is applicable to all traders, any time frame and you can spend as much or little as you want...There are examples in the book trading 1 min, 4 min, daily, weekly, monthly.... and all of these could be interchanged and could use different time frames. As for the potential...that is only limited by your financial ability to meet margin requirements, your personal ability to control your emotions and stick to your trading plan. You don't have to purchase the 2 forecasting books to use the systems...they stand alone and are very self explanatory. As for trading CFD's in the stock market.... you would have test it to see....(I would be very surprised if it doesn't...when you understand what to do to make money trading you will see that it applies to almost everything.)
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Q. In the book "Secrets of Trading and Making Money" does it provide an entry setup? I am interested in finding a reliable entry setup.
A. An entry setup depends on the trading system you are using. If you are trading a system that has you in the market all the time, you only have to get in long or short and the system will self correct and take care of all the entries after that. If you are trading a system where you have to continually find entry points, then those entry points must be identified either by the trading system or by a forecasting system that works in conjunction with the trading system. The examples in the book are complete systems in that they are in the market all the time and once in, the entry is taken care of by the system. These systems can also be modified to fit your particular trading style and market
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