Why WaveTrader 3 is the Perfect Upgrade
Waves, Waves, and More Waves. Yes, if you are a fan of any WaveTrader or the Elliott Waves then you are in for a treat! I have personally been a big fan of the Elliott Wave theory for years and when Nirvana Systems developed WaveTrader I was giddy! I know that sounds nerdy but I was very excited on this new addition to the Nirvana Systems product line. The best part of this was the plugin delivered exactly what it stated. Great wave identification and powerful strategies. A few years later I was delighted to see we had developed a new and improved WaveTrader 2 that built off the already powerful infrastructure to give enhanced performance which was more than welcomed. It however, didn’t have the same WoW factor for me. Don’t get me wrong. Any improvements are HUGE, especially when it comes to your personal finances. Then yesterday the new WaveTrader 3 install was left on my desk for review… And… you guessed it… giddy again. The newest addition to the WaveTrader family is… Well… INCREDIBLE! WaveTrader 3 has now added in a new feature using Fractal Waves. If you are not familiar with this term, a fractal wave is a “wave within a wave”. What this means is that WT3 can now take advantage of the precision of the smaller waves while benefiting from the smooth, stabilizing, effect of the larger waves. This is a huge advancement because the smaller repeating waves that are self-similar to the larger waves offer up highly confirmed wave candidates across the market. Now, lets take a look at what comes with the WT3 package. WT3 comes with all prior versions of the plugin which adds a great deal of value, however, the newly designed strategies that come with WaveTrader 3 are just short of amazing. The new WT3 Long Term strategies uses Fractal Confirmation and has been generating some really great trades. Here is an example of a few trades that were found on ABBV. Here are some of the results I have seen so far when running a comparision between the WT3 Long Term Strategy with and without the Fractal Confirmation. In early test the HitRate exploded to a staggering 68.14% from an already impressive 54.58%. Again using the Short Term strategy which looks to take profits once a trade has posted gains in the next few days. It’s no suprise that you see a great increase in Hit Rate on the WT3 ST(Short Term) versus the standard WaveTrader without the Fractal Confirmation. Although the strategies performance is great there are a few more features that really add some pow to this package. New Chart Templates New Indicators, Systems and Stops! The new set of chart templates are very helpful in that they visually identify the broad market direction compared to you current positions. This has taken trade confirmation to a whole new level! Along with the chart templates you will also get a new set of stops that use the fractal confirmation. This is a big deal as it has drastically improved stop managment. So, it’s pretty clear that the updates in WaveTrader 3 have improved the overall trading experience, allowing you to fully leverage the fractal waves to improve the entire trading experience. If you have thoughts or comments let us know!