Blue Wave Trading Software

[burchak]

Wondering if anyone is using the Blue Wave trading software. I am considering it. Thanks in advance,
Regards, Michael

[burchak]

Thanks for your response. I have e-mailed them with a few questions but no one ever responds The 2 week trial is unrealistic at $495.00

[Bogan7]

u r right its totaly waist of money.its batter u trade with HMA 200.this indicatore on ninja trader as well as kama.when kama is flat do not eanter in market its best indicatore who inadvance shows chopynes

It seems NT unfortunately dosnt really care about the quality of its 3rd party software vendors they let any old thing pop up and advertise which is fine for them as I am sure they get a nice bit of revenue from the vendor but its the vendor that really wins as they get the bonus added credibility of being associated with NT which for many I dont feel they deserve. They are especially tempting to Newbies who are the most vulnerable. NT is a great piece of software so you guys must recognise many of your associated vendors arent up to scratch?

[troydavis1010]

Hi nadeemrock (http://www.ninjatrader-support.com/vb/member.php?u=2226),

When did you do the trial version of BWT.

Did you trial the BWT Precision indicators on Ninjatrader 6.5. I spoke to the developer just recently and he said the BWT Precision he got trading now uses NT6.5 using "Range Bars".

Any reply would be great.

Thanks vbmenu_register("postmenu_22065", true);

[Christoph]

Best you can get for money. In my eyes nothing to discuss about!

[Christoph]

@troydavis

the indicator also works almost perfect in every time-frame as also in volume bars.
I do know this, because I can see it live on my TFT.

But the best indicator just supports your thinking, perhaps this is a problem of authors of recent posts...

[Bogan7]

Best you can get for money. In my eyes nothing to discuss about!

No pumping the product with unsubstansiated statements please it degrades the forum. You want to make these statements provide something to back it up otherwise it is nothing but wind.

[burchak]

It would be nice to see some Blue Wave trading examples on the Ninja Trader platform using
Tick, Volume and Minute charts. Not just a selected small time frame showing a winning trade but something showing a broader view including losing trades. Regards.

[Christoph]

:) Please read the recent postings, then we´re talking about substance.
It seems to be easier to talk badly than serious.


No pumping the product with unsubstansiated statements please it degrades the forum. You want to make these statements provide something to back it up otherwise it is nothing but wind.

[Christoph]

I´m trading FDAX 2min and ES 3382 and ER2k 1min.


It would be nice to see some Blue Wave trading examples on the Ninja Trader platform using
Tick, Volume and Minute charts. Not just a selected small time frame showing a winning trade but something showing a broader view including losing trades. Regards.

[Christoph]

FDAX

Snapshot taken @worst time to trade(for me)

[Christoph]

ER

My first posting....
Repitition: "Best you can get for money. In my eyes nothing to
discuss about!"

[Christoph]

First day I had his package - and I opened a new account only for testing his signals which was not opened at this time - I was just laughing.

Just amazing.

There is no holy grail, but his package supports a lot.

and @Bogan7

Perhaps you should invest the money for a trial. I guess that I´ve tried a lot - platforms as also Indicators - but Ninja and BWT seems to work really very nice. For me Ninja delivers stability and Ninja confidence. I´m trading for 6 years, so I guess I know what I´m talking about.

I´m from Germany and I had a lot of connection problems. Not with Ninja with Zen-Fire.

[dwalls]

Alot of the indicators used in this system are already available in the Ninja or eSignal forums...for free. fwiw

[burchak]

Thank you for the charts. Looks as though there are some good trades in your charts. What does the SPX look like on a 10 or 15 min chart

[bluewave]

Thanks to everyone that has posted positive comments about the Blue Wave Precision Indicators.

Mr. Burchak sent me emails on May 4, 2007, May 5, 2007 and Dec. 24 2007

I responded to each of these emails same day or within 24 hours.

I may have missed one on Aug 18...sorry...

For the record: I do not "cherry pick charts. There are screen shots and videos showing winning and losing trades. It has always been the policy of Blue Wave to avoid cherry picking charts, and we do not need to sensationalize or hype our indicators like so many of our competitors.

I have spent long hours to make these indicators what they are. It is very easy for some to come along, who we know nothing about their credibility as a trader, and say they are no good...For every negative comment, I'll show you a dozen or more positive ones....

We are committed to presenting and providing quality.

Randy Sarrow
Blue Wave Trading Research and Development

[bluewave]

Mr Walls,

Please provide us with the links to the "free indicators" especially the ones that plots the price directly on the bars in real time and has the same accuracy as Blue Wave.

[dwalls]

Sorry, I should have said similar indicators.
The CCI, Painted Trend Bars and other Trend Indicators similar looking to yours are common.
Im sure yours are different and you sent alot of time on them.
My apologies.

[burchak]

My intentions were only to find out if anyone was using the software. Perhaps e-mails were deleted by others using my computor before I could see them. To the point, I was impressed by the members charts using the Blue Wave software and even e-mailed him to that effect. The Blue Wave software looks like it offers the trader a great tool to be successful. For my part I am going to take the two week trial and judge for myself. The two week trial is a generous offer. One trade could easily pay for the trial and software. Sorry if there were any misunderstanding. Best in trading.

Regards, Michael

[Rollins]

One important thing to know would be after how many bars the color changes.

Most indicators don't perform well during choppy periods.

Repitition: "Best you can get for money. In my eyes nothing to
discuss about!"You're wrong, there's always something to discuss. If you have purchased all indicators there are for making an objective statement, I think you have a lot of trading to do now to offset your investment :D.

[art cole]

Burchak,

If it isn't to much trouble please post some of your observations and trades during your 2 week trial. Like others I am curious what these indicators have over many of the other trend and momo indicators available.

FYI, I have a trend indicator that has a user definable look back period and it paints the bars very nicely. However, I don't use it anymore. But it didn't cost me anything either.

[Christoph]

I have to say that this is absolute nonsense!

We do not have to mention, that a 15min chart is a very large time frame.
And especially to troydavis: think,think,think -> good advise for your trading.

I can not often reply, how often the BWT indicators are saving my ass trading the US Markets.


I later found out he corrupted my computer by adding in some virus & trojan files because he got pissed of with my complaints.

I am sure of that, perhaps taking some pills will help...!!
-----------------------------------------------------------------------


I only can say, that BWT indicators deliver great signals - I would say that with my over 6 years trading experience I have not seen anything compareable. (compareable? no idea if it´s written like that ;-) )

[Christoph]

I have to add one comment. Sure some signals appear and disappear, when the signal is no more longer there. And that is typical and great - this indication delivers real time entry points!!

If somebody wonders why I am pissed because such comments is that I see it on my PC.

[Christoph]

These are my results for today, I got caught in the morning - and was not qualified enough to let my stop out of one trade...
These is based on 1 contract ES - the looser with minus $280 was the ER, I finally kicked it of my plattform, I just cant trade this sucker.

I have to mention that I could have done three times better, but thats life.
And sure, a lot of trades are just 0.75 pointer, but I like it that way.
But: BWT Indicators are working perfectly, could not be better. Only improvement could be me ;-)
This account I only openend to trade with BWT, I´m going to post my results for complete coming month at the end of it. But as far as my experience has grown the winning percentage of my trading style with BWT lies over 80%. Thank you Randy for your great work.

[Bogan7]

You are joking you traded 19 times for a profit of $480 how about comms I notice that was empty so you SIM traded it just further proof the system is useless at best but most likely very dangerous to newbies.

[ts888]

I did a trial and decided not to purchase. I will give my opinion with the positives and negatives.

You will not get results anywhere like the charts posted because the signals change intra-bar. This can be good and bad depending on how you view it. You will get in sooner on nice trades rather than waiting for bar to close. However, the signal can appear and dissapear many times intra-bar chopping you to death and making your broker rich. You could wait until the bar closes to avoid this but then you will either get a worse price or not get filled on the best trades where price never retraces and moves quickly and far from the signal.

I do NOT believe the programmer/vendor to be a scammer. I spoke with him on the phone and by email and he did his best to explain how one might benefit from these indicators. He told me point blank that you can't just take ever sgnal, there must be some discretion and subjectivity.

I back tested for MANY hours with different markets, time frames, settings, range bars, vol bars, etc and I can verify that if you are expecting to get a product that will blindly give you entries that will be profitable by taking all of them then prepare to be disappointed. However, see above, the vendor did tell me you can't just do it this way.

I decided not to continue after the trial because although I had a good feeling about being able to make it work I wasn't sure and after paying $500 for a trial (biggest trial amount I've see anywhere) I wasn't about to throw down a few more thousand in hopes that I could make it work.

so.....in summary.....I do think the vendor has some good indicators but I believe they will take time and subjectivity is definitely required as to which signals to pass on. This was told to me by Randy and I can verify it from my back testing hours.

hope this helps

[Poocher]

How about a $50 one week trial.

I can understand you don't want a lot of window shoppers trying your software who don't plan on purchasing but a $500 trial?...why so much?

[monti1a]

I did a trial and decided not to purchase. I will give my opinion with the positives and negatives.

You will not get results anywhere like the charts posted because the signals change intra-bar. This can be good and bad depending on how you view it. You will get in sooner on nice trades rather than waiting for bar to close. However, the signal can appear and dissapear many times intra-bar chopping you to death and making your broker rich. You could wait until the bar closes to avoid this but then you will either get a worse price or not get filled on the best trades where price never retraces and moves quickly and far from the signal.

I do NOT believe the programmer/vendor to be a scammer. I spoke with him on the phone and by email and he did his best to explain how one might benefit from these indicators. He told me point blank that you can't just take ever sgnal, there must be some discretion and subjectivity.

I back tested for MANY hours with different markets, time frames, settings, range bars, vol bars, etc and I can verify that if you are expecting to get a product that will blindly give you entries that will be profitable by taking all of them then prepare to be disappointed. However, see above, the vendor did tell me you can't just do it this way.

I decided not to continue after the trial because although I had a good feeling about being able to make it work I wasn't sure and after paying $500 for a trial (biggest trial amount I've see anywhere) I wasn't about to throw down a few more thousand in hopes that I could make it work.

so.....in summary.....I do think the vendor has some good indicators but I believe they will take time and subjectivity is definitely required as to which signals to pass on. This was told to me by Randy and I can verify it from my back testing hours.

hope this helps

Thanks for the warning. Another hyped up system that can't deliver what it purports...but are we surprised...they never do.

The vendor has to be both crazy and greedy to charge $500 for a two week trial of this crap.

[gkinlaw]

I saw BWT in a chatroom (ccitraders.com) week before last. I found it very impressive and amazing. We were looking at shorter term trades and BWT was displaying very long trend trades. I got the trial and purchased it after one day.

I've had about 4 days to work with BWT on sim. It feels natural for the style of trading I'd like to do. I also used a 3min chart on some fast moving stocks to scalp profits with options. Worked great. Randy said it works even better on stocks and I believe he's right.

Consolidation is the biggest trade killer on every system I have tried. The BWT manual says to have a reason to trade like support/resistance, HOD, LOD, double tops and bottoms. One or two quick reversals and a cci that moves back and forth between the 100 lines is a signal to wait for a new trend. I think the manual also says to change the time frame to lower settings if you wish to trade the chop.

I tested range, minute and volume charts and I'm pretty sure I'll keep to minute and range and 1.4 sensitivity. My plan is use BWT with manual trend lines and trade with the larger time frame trend and wait for trend line breaks to trade the opposite direction. I will use the BWT stops and let it trade run to s/r levels and fib targets.

I will try to repost in a few weeks after I get some more experience and see how the BWT progresses. I will remind myself every day that it's a tool to help me and not the end-all do-all of trading. There are some actual trading videos on www.sfveritas.org (http://www.sfveritas.org)


Just for info, I've been learning the mini's for a year and a half now. I trade live rarely and mostly sim. I've got to find my comfort zone and conserve captial. When my sim account goes way up then i'm ready for real money. Right now I believe the BWT will put me a step closer and hopefully over the top.

[Christoph]

Hello again,

for me I can still say that I am absolutely satisfied. I do earn money almost every day and BWT is a big part and also essential for my trading. I am trading the german FDAX and the eminis. For ES my setting is a 8 tick range chart for trend detection, which I trade in combination with a fast volume chart. I do also trade the ER2 ( volume chart for trend detection) with a tick chart.

I can say that I trad this package live since the first trade, I didn´t do even one sim trade on it. Somebody wrote in an older posting that he did backtest it and it didn´t work - I would say that since my purchase I earned 2 points per day in an average. I could make much more, but I am really acting conservative.

I can say that it saves my butt - and with the new indicators BWT delivers tools to filter out "bad" trades.

I would recommend it even to my friends. It is absolutely worth it´s price.

[webber]

Isn't this just a script or a few scripts for NT? I do not understand why the charge - I would guess someone will post it sooner or later so all can tweak it and give feedback.

Am I wrong - is this a software? The site shows it with NT so all scripts I use for NT or other charting packages are free.

[trader1152]

You are joking you traded 19 times for a profit of $480 how about comms I notice that was empty so you SIM traded it just further proof the system is useless at best but most likely very dangerous to newbies.
Bogan

You obviously don't trade or you would know that the net amount on the Ninja Reports is net of commissions.

And you would also know that Christoph's performance is quite good regardless.

A profit of $480 whether it was 19 trades (which is really not that many if you are scalping) is a good profit nonetheless. If you do the math, $480 x 5 days a week is $2400 a week or $9600 a month.

At least Chrsitopf had the courage to even post a statement of real trades.

[trader1152]

No pumping the product with unsubstansiated statements please it degrades the forum. You want to make these statements provide something to back it up otherwise it is nothing but wind.
Bogan7,

Your own statements are "unsubstantiated" unless you have personally tried the indicators. Obviously you have not, or you would have made that clear to everyone.

What interesting about the posts in this thread is that the few most critical comments have a edge of contempt, where even the negative posts mention both negative and positive traits about the indicators.

The rest resort to defamation and name calling - negative comments are often jealous competitors ...that is what degrades this forum...

[pclark]

Anybody have any continued feedback to this software? I saw a demo this afternoon on the Ninja Trader site and was impressed. I know there is still the human factor but curious how much of an edge someone that has used these indicators feel it gives.

Paul

[jeff p]

Has anyone been in the the Blue Wave Trading Room? There's an open trial with a top beta tester going on for a couple of weeks . So, we finally get to see what this Blue Wave business is all about .....in real time ......with a real trader....for free. :rolleyes:

[Bogan7]

Sounds like they are getting desperate to try and flog that expensive software

Has anyone been in the the Blue Wave Trading Room? There's an open trial with a top beta tester going on for a couple of weeks . So, we finally get to see what this Blue Wave business is all about .....in real time ......with a real trader....for free. :rolleyes:

[gkinlaw]

I am a room member and have the blue wave system. The room is actually great. The two moderators are trading pros who help you learn the blue wave system. The indicators are not cheap but pale in comparison to blowing away your account when you are an inexperienced trader. The room is open 12/18 and 12/19 and then closed until the 29th. Visit if you like. The link is on the BWT web site. Today's FESX trades are posted on http://protradered.blogspot.com/

[trader1152]

Bogan,

When ever someone puts a new post on the Bluewave thread, you are right there to discredit them. Why you would do this is obvious: 1. you are a competitor selling your own products , or trying to or wanting to. 2. you are jealous that someone else is successful and that people actually like the product...or 3. In one of your previous post you cautioned against spreading unsubstantiated claims, I guess this makes you a hypocrite...

4. all of the above....I suspect #4

If you are so enlightened why don't you contribute something useful instead of your usual negative slander...

[ctrlbrk]

Hi guys, just wanted to say thanks for turning me onto this system. I will investigate and do my homework. Don't need another Traders International! But from observing the live room for a short period I have to say that _so far_ the indicator seems spot on.

[mohass]

BWT has now setup a trading room where you can see all trades as
they happen with the indicator. They now have a one week free entry to the room. By the time the free trial is over you will have you software paid for.

[gkinlaw]

The room has been going great, the room moderators are top notch if they can pull trades out for the last week.

[ctrlbrk]

Here is my mini-review. I have no association with BWT and I believe you if you do research of my posts here on NT and on ET forums you will see this is an unbiased opinion. I think that is extremely important, as personally I am turned off by some of the posts on this thread because I question the validity of the author, so do your own homework.

I've been doing a lot of homework on this company since my last post. Have talked with both moderators in the room, and the owner of the company on the phone at length. Also did a lot of research on the web and many trading forum sites.

So far, I believe the indicators and the room to be a great resource for both newbies and experienced traders. (the room more towards newbies, the indicators more towards experienced traders)

Randy (owner) is a no-bs kinda guy, he will tell you how it is. I tried to make a deal with him on the price of the system and some autotraders, etc, and he basically told me buzz off (in a nice way), his system is worth every penny and more (his words in a nutshell). From a sales point of view, this approach works best on me, so he did a good job.

So far, what I have observed is that it is a good system but not perfect, and it relies on your brain and common sense, but can definitely help you minimize mistakes. I believe in what many pros have said, simply focus on not losing money and in the end you will make money. The indicators can help you not lose money.

I'm a real visual kinda guy and for that reason I also really appreciate the visualization aspect of the indicators. It makes things easier to interpret without skewing data. A lot of time and work as gone into that part of the system.

I also don't want to throw money around needlessly, and I've already found open source freely available indicators that perform some of the functions of the BWT system in a similar fashion. Key word, "some", which is the problem here. How much time do I want to spend developing custom indicators on my own, trying to mimic what he has already done, instead of instead focusing on saving my time (which is very valuable) and trading what is in front of me. I already spent probably 40 man hours in an attempt to duplicate some of his work before I gave up and deleted what I had worked on already, and decided for me personally, it would be better to accept the fact his system is expensive but that I am not going to duplicate it on my own for less "expense" when measured in man hours and the cost of my time.

Still, one thing that irks me about the indicators is you cannot build an automated strategy around them. The values are not made available so backtesting and developing custom strategies won't be happening, I have tried extensively and Randy flat told me it won't work. That is a blow to me, because I really prefer automated strategies over discretionary trading. That is really what lead me to trying to duplicate some of them, I am not sure I can live without my automated strategies.

However, there are more positives than negatives. Ed and Jared, the room mods, are stand up guys and again are straightforward and tell you how it is. I've communicated with Ed quite a bit via email and he will call BS on you if you aren't in the room on-time or make stupid trades without having a reason, etc. This is great for newbies and a good kick in the pants for more seasoned pros as well.

A lot of what Ed and Jared do is routine and basic, straightforward, etc, but I believe that many people (myself included) tend to over complicate their trading or make changes they shouldn't to their rules, and so what they (the room) really provides is that extra accountability to do the right thing consistently.

I need much more time to really speak from experience, but now with the holidays out of the way, that should be coming up quickly. I have the indicators [trial] and am a member of the room, so in the coming days and weeks I will be able to better gauge the real-world results of both for an honest assessment of the system.

I'll have my own decision to make because I'm only on the trial for the indicators, and really that is what I want more than the room so I'll have to decide if the steep price tag is worth the price of admission or not. The old saying "you get what you pay for" might very well be true here, we shall see.

Mike

[gkinlaw]

CB, Your review is spot-on. Much more articulate than mine. I bought BWT the day after I tried the indicators. The indicator accuracy is over 80% as they tell me on the first target, 4-5 ticks, which I believe. It's taken me a month for the system to start working for me. It's hard to get rid of some old habits and just trade the signals. I hope to be trading live soon with the help of BWT and the team, Randy, Ed, & Jerad.

If anyone wants a chart of a particular day or instrument, I'll be glad to send one. The trade signals don't disappear. The 15000 Volume ES chart was awesome today, long from 10:20 thru 3:30. http://screencast.com/t/LKNwAILPL

I would also like an auto-trade option. Starting Monday the room will have autotraders running where you can pick up the trade manually.

[pclark]

Here is my mini-review. I have no association with BWT and I believe you if you do research of my posts here on NT and on ET forums you will see this is an unbiased opinion. I think that is extremely important, as personally I am turned off by some of the posts on this thread because I question the validity of the author, so do your own homework.

I've been doing a lot of homework on this company since my last post. Have talked with both moderators in the room, and the owner of the company on the phone at length. Also did a lot of research on the web and many trading forum sites.

So far, I believe the indicators and the room to be a great resource for both newbies and experienced traders. (the room more towards newbies, the indicators more towards experienced traders)

Randy (owner) is a no-bs kinda guy, he will tell you how it is. I tried to make a deal with him on the price of the system and some autotraders, etc, and he basically told me buzz off (in a nice way), his system is worth every penny and more (his words in a nutshell). From a sales point of view, this approach works best on me, so he did a good job.

So far, what I have observed is that it is a good system but not perfect, and it relies on your brain and common sense, but can definitely help you minimize mistakes. I believe in what many pros have said, simply focus on not losing money and in the end you will make money. The indicators can help you not lose money.

I'm a real visual kinda guy and for that reason I also really appreciate the visualization aspect of the indicators. It makes things easier to interpret without skewing data. A lot of time and work as gone into that part of the system.

I also don't want to throw money around needlessly, and I've already found open source freely available indicators that perform some of the functions of the BWT system in a similar fashion. Key word, "some", which is the problem here. How much time do I want to spend developing custom indicators on my own, trying to mimic what he has already done, instead of instead focusing on saving my time (which is very valuable) and trading what is in front of me. I already spent probably 40 man hours in an attempt to duplicate some of his work before I gave up and deleted what I had worked on already, and decided for me personally, it would be better to accept the fact his system is expensive but that I am not going to duplicate it on my own for less "expense" when measured in man hours and the cost of my time.

Still, one thing that irks me about the indicators is you cannot build an automated strategy around them. The values are not made available so backtesting and developing custom strategies won't be happening, I have tried extensively and Randy flat told me it won't work. That is a blow to me, because I really prefer automated strategies over discretionary trading. That is really what lead me to trying to duplicate some of them, I am not sure I can live without my automated strategies.

However, there are more positives than negatives. Ed and Jared, the room mods, are stand up guys and again are straightforward and tell you how it is. I've communicated with Ed quite a bit via email and he will call BS on you if you aren't in the room on-time or make stupid trades without having a reason, etc. This is great for newbies and a good kick in the pants for more seasoned pros as well.

A lot of what Ed and Jared do is routine and basic, straightforward, etc, but I believe that many people (myself included) tend to over complicate their trading or make changes they shouldn't to their rules, and so what they (the room) really provides is that extra accountability to do the right thing consistently.

I need much more time to really speak from experience, but now with the holidays out of the way, that should be coming up quickly. I have the indicators [trial] and am a member of the room, so in the coming days and weeks I will be able to better gauge the real-world results of both for an honest assessment of the system.

I'll have my own decision to make because I'm only on the trial for the indicators, and really that is what I want more than the room so I'll have to decide if the steep price tag is worth the price of admission or not. The old saying "you get what you pay for" might very well be true here, we shall see.

Mike

Mike,

I would be interested in hearing your continued opinion on this. What indicatiors were/are you using? How are you using them etc.. The thing that bothered me is that there was not really anything to say how to use them except here they are. I don't really have time to join the room. I trade at work and being involved in a trading room would not work for me.

Did you end up buying the software?

Thanks...

[pclark]

CB, Your review is spot-on. Much more articulate than mine. I bought BWT the day after I tried the indicators. The indicator accuracy is over 80% as they tell me on the first target, 4-5 ticks, which I believe. It's taken me a month for the system to start working for me. It's hard to get rid of some old habits and just trade the signals. I hope to be trading live soon with the help of BWT and the team, Randy, Ed, & Jerad.

If anyone wants a chart of a particular day or instrument, I'll be glad to send one. The trade signals don't disappear. The 15000 Volume ES chart was awesome today, long from 10:20 thru 3:30. http://screencast.com/t/LKNwAILPL

I would also like an auto-trade option. Starting Monday the room will have autotraders running where you can pick up the trade manually.

Just curious what indicator you found that was 80%? Which combination have you found most effective on the indicators? Thanks...

[SteveMc]

All of the discussion has not involved individual stocks.

Does anyone :
#1 Use these indicators on individual stocks?

#2. Any experience with automated trading yet?

Thanks ... Steve

[gkinlaw]

you can use blue wave for whatever you can chart. most everyone I talk with is too busy with futures to look at stocks. I have charted a few.

Blue Wave has had automated systems for a long time and one is displayed in the room every day. You should contact Randy directly for more info about automated trading.

[ctrlbrk]

Mike,

I would be interested in hearing your continued opinion on this. What indicatiors were/are you using? How are you using them etc.. The thing that bothered me is that there was not really anything to say how to use them except here they are. I don't really have time to join the room. I trade at work and being involved in a trading room would not work for me.

Did you end up buying the software?

Thanks...

pclark,

Yes I bought it.

The main guts of BWT, from an indicator perspective, are:
a) Price bars (similar to Heiken Ashi, but different)
b) Volatility stop
c) Price bands

From there, you have many options on what to use to enter/exit trades, but I prefer to use:
d) BB's (based on bollinger)
e) %R

There are also CCI, Parabolic, and Tick volume indicators.

As for documentation on how to use them - yes pretty much forget it. They've recently released a manual of sorts, but it isn't very good at explaining why to do what it says, just to do it. That approach may work well for some, but I am the kind of person that best learns from trial and error, so the manual didn't do anything for me.

I use it for the ES mainly. I've also used it for 6E, FDAX, and FESX. I use 5 range chart for most things, but a 233 tick is useful, and I also am working on some new 5 minute stuff. It's very flexible for time frames, just choose targets and stops accordingly -- larger time frame = higher stop/target.

The room primarily focuses on one setup. I've developed my own setups that I feel best with. I think this is key, BWT in itself is not a "setup" for enter/exit like some systems/indicators are sold as. Instead, it is very diverse and allows you to come up with your own setups.

My recommendation is to get the trial for the trade room. There you can see it in action. After that, purchase the 2 week trial of the indicators so you can own them locally on NT and mess around with them. From there, you will either be excited and have no problem buying them, or you'll decide otherwise.

In response to some other posts:

- I agree, most people use futures with BWT.

- 80% is absolutely attainable. The setups in the room require about 70% to break even, so high win percentage is key. Again, develop your own and depending on your method that could be higher or lower.

- I do not trade the auto-system trades in the room. I can go into a long story, but basically I disagree with win percentage due to the delay in entering a trade manually. Until Randy can incorporate this delay into the strategy and then show me backtested results, I would stay away from the auto system trades in the room.

If anyone wants a screen shot of a particular instrument or day/time just let me know via PM.

Mike

[ctrlbrk]

Hello all,

I have received many PM's about BWT. I wanted to post a few of my answers to help everyone.

If you are buying or trialing BWT as a result of my posts, please let Randy know that Mike (ctrlbrk) sent you. I'd like to be able to cash in any goodwill with him at some future date!

-----

Here is one guy who said he owns BWT but has not made money with it yet, and my reply:

**

I am curious in what way are you failing? I've recommended BWT to other people, including close friends, and found that BWT did not correct the underlying problems they had with their trading mentality. They still abandoned profits way too quickly, and kept stops full, or they over traded, didn't follow setups, etc. BWT is no cure for that crap.

I suggest finding a setup that works on paper (charts) over and over again. You can use the documented setup of CCI cross the room uses, or develop your own (I use %R not CCI). Then, I suggest there are only two outcomes of every trade... profit target, or stop. No BS'ing around, don't adjust either. Each trade results in one or the other.

The next thing to eliminate is over trading or trading without a setup. Don't jump in a trade intra-bar, ever. There is no intra-bar trade with BWT.

**

I'll also add that the room pushes the Acid Test, which is basically a paper trade test to do 100 trades or so in a live market and make sure you come out 80% or better. Using the room's setups, you will need 75% or so just to break even. You can of course adjust the setups to your liking, but you should obviously thoroughly test them on paper, live market w/sim, or whatever you choose.

I think the biggest thing to understand is BWT is all about generating setups. You have to believe in them, and take every one. Some will fail, most will win, so long as you've got a valid time-tested setup. From there, it all comes down to your mental discipline to make sure you don't mess it up.

BWT is not perfect. Plenty of days I lost my ass while the room was up big. I did not take every trade, or the ones I did on my own were not profitable. Nearly every day like this was generally my fault for not following my own rules however, no one is perfect.

Good luck!

Mike

[ctrlbrk]

Here is another, this guy was just asking about the room, what setups and time frames I use, etc:

**

I am using Zen Fire. I've previously tried IB+IQfeed, and even eSignal. I prefer Zen mainly because it is much more efficient in my testing with NT (the historical data for Zen is in fact provided directly by Ninja servers). It is futures only however, no stocks.

I use very small time frames, 5 range, 233 tick... I am going for small gains on each trade. But you can vary/adapt the style to a larger time frame as well, BWT is flexible in that regard.

The room is helpful to get started, but I actually stopped attending after 30-60 days because I felt it was holding me back. The room also has politics of 'selling' the indicators and it was as-if they could do no wrong, I hate that crap and wish the room was for people who own the indicators only (except for a free trial) and the room didn't cost any extra, that would help remove the sales pitch crap.

I use different setups than the room. There are many ways to skin a cat. Just do what works best for you. I came up with mine after staring at a zillion charts, but overall, KISS (keep it simple) is the golden rule.

**

Good luck,
Mike

[jeff p]

Cntrl Brk, you're the inside Ace, I know they have a futures room and you say that's been real solid, Whats the membership like, crowded? too crowded? and the Vibe?

Now they're breaking into forex? I've heard chatter, in a webinar, about a private room where strategies are developed, dicussed and perfected. Does this exist? Is there an unadvertised room where the membership is exclusive? Some of the moves in forex are massive, if Blue Wave software is as good here as with futures the profit must be substaintial. So spill the beans! Are there hedge funds involved?

[ctrlbrk]

Cntrl Brk, you're the inside Ace, I know they have a futures room and you say that's been real solid, Whats the membership like, crowded? too crowded? and the Vibe?

Now they're breaking into forex? I've heard chatter, in a webinar, about a private room where strategies are developed, dicussed and perfected. Does this exist? Is there an unadvertised room where the membership is exclusive? Some of the moves in forex are massive, if Blue Wave software is as good here as with futures the profit must be substaintial. So spill the beans! Are there hedge funds involved?

Jeff, I haven't been in the room for over a month (no longer feel the need for it). The room is now run by Ed during the ES cash session. Jared is no longer with them, which I was sorry to learn. Kip helps call trades and is a solid performer. I think there is also another guy, Chuck I think is his name, that I hear is good from friends that are still in the room and that I chat with.

The room has a lot of good valuable info. But, Ed lays on the used car sales pitch a bit too strong for me at times (ie, if a trade goes well then "just take the signal", and if a trade goes bad "you need to manage your stops and why are you still trading anyway, you got your 20 points today didn't you?"). Personally, that is not helpful to me. However, I will say Ed did help me get over a physiological hurdle I was having with my losses, and I thank him very much for that. I just feel that once I am a paying member, you can cut the "sales" routine.

As I've said before in this post, the system trader they use which makes most of the points each day, is basically unusable by any member of the room, in my opinion. This is because it is set to what I would call "liberal" fills (touch) and also many of the winners are impossible to get in on. If Randy would add a delay like 3-5 seconds, set his fill modes to penetrate, and then show me new backtest results I would like to see them. But for now, if you take the system trades "as is" you are altering the success rate, and in my opinion, it is not profitable at its current setting.

I've heard nothing about a forex room being open yet. They've been talking about it.

So, overall:

- Yes, I would recommend the indicators.
- Yes, I would recommend the room membership for at least two months.
- Yes, BWT makes up 90% of the indicators I use personally.
- No, it is not a perfect system. Yes, you can still lose money.
- No, I don't believe you can get 20 points a day like Ed says in his blog posts. (I think Ed can and does get them, but not the room for various reasons).

HTH
Mike

[edabreu]

Hi Mike, and all:

Interesting to note all this feed back. One of the best things I have found is feed back from members and trials in the room. Sometimes I think I am a broken record asking for it, but it does help me and others in the room.

Most important point I want to mention is that no one will get all the points I make in the room during the trading day. To do that you would pretty much have to be sitting next to me at all times and not looking at your own charts or doing your own thing. As a matter of fact, its almost impossible to get every trade and every point from any trade room.

My personal avearge is about 8 but the system generates great signals and sometime sit takes away my winners, and sometimes it adds to my winners. I think of my role more of a coach, and a trade desriptor... that is describing the setup, describing the price action to the best of my understanding, and encouraging you to take a trade, or not take a trade. I cannot manage your money for you.. but you can watch me manage mine.

Yes, I firmly believe you must set a goal, trade to that goal and stop. In the beginning, especailly for newbies, your best chance of making some money is to take every trade I call, whether system or not. You do get to see every trade I take during the cash session since I use chart trader in Ninja, and I periodically post the trades list right from my Ninja reports.

The acid test is a must. If you are in a trade room, then I surmise that you are either looking for help or to learn or a place to hang out with other traders. If its the help or learning, then the acid test is the best way I know of surviving your first foray into cash trading. It snot a secret test or anything mystical. It is designed to help you mearure the kind of trader you are. It si also designe to help solidify your method so that when you get to the point where you are ready for cash, you do not have to change anything, or re-invent your approach.

Sorry about the sales pitch. I take stops too, and have trade losses too. So the membership does help cover some of that. But I absolutely agree with the commmment that life time membership in any trade room is not a good thing. I encourage everyone to determine the point when they need to graduate. Dependency on any one else to do the trading for you is not good. However, even if you do not need the setups, or the help, you are welcome to stick around and share the experience and your knowledge. Every good trader I know is never closed to learning new setups that work.

So you are all invited for a free trial and I encourage you to take it. If this room can help you great; if not, then you will have to continue searching.

Yes, we have thought a lot about FX. If you go to my blog you will find an essay called Shark Infested Waters.... http://sfveritasllc.blogspot.com/2008/12/industry-waters-full-of-sharks.html

[bluewave]

Blue Wave does not resort to hype or lying and we never will. It's only natural that we promote and encourage people to use the BWT Indicators, after all that is part of the business we are in. There are plenty of vendors who will tell you "you can be an expert overnight..." ""Buy on blue sell on red..."we have the best traders/coaches in the world "etc. .. We are not one of them....

I am the first one to tell prospective customers that trading is NOT that easy, and the BWT indicators will not correct anyones bad trading habits. The moderator in the BWT room, Ed -- his performance speaks for itself...

Many traders following our system calls do indeed have time to enter the trade and do IN FACT make profitable trades from our system trade calls. And yes, these same people have losing trades also. To say the systems "is basically unusable by any member of the room," is simply not fair, nor is it true. Room members ARE using the system.

What is true is this- yes some trades cannot be be entered because price gets away too fast..., and yes, the software may assume that a trade is filled if price is touched. This does not mean the system should be discarded. However, even with a market entry and exit, with a six tick (sometimes more) target, it is possible to net 3-4 ticks on a trade. We don't feel this is an issue as the system trades enough times in a day to compensate for missed trades.

[edabreu]

u can visit this blog for all the recent trades:

http://protradered.blogspot.com/

Remember - in the beginning expect getting about 1/3 of the trades and gradually increasing as you become familiar with our methods, the mod's style and language, and the environment.

Hopefully, everybody will eventually out-trade the mod and graduate to full independence and more important - disciplined consistency with full control over your money and yourself.

Endeavor to Persevere!

[Rauss]

Hi Bluewave,
why www.bluewavetrading.com (http://www.bluewavetrading.com) web-site doesn't work?
Regards

[bluewave]

The Blue Wave Trading website host is implementing new hardware and upgrading their servers during Nov. 18 and Nov. 19.... The site may be offline temporarily for breif periods of time.

Thank you for your patience during this time.

Randy M Sarrow
www.bluewavetrading.com

[r2kTrader]

Ray,

He has a point :o

It seems NT unfortunately dosnt really care about the quality of its 3rd party software vendors they let any old thing pop up and advertise which is fine for them as I am sure they get a nice bit of revenue from the vendor but its the vendor that really wins as they get the bonus added credibility of being associated with NT which for many I dont feel they deserve. They are especially tempting to Newbies who are the most vulnerable. NT is a great piece of software so you guys must recognise many of your associated vendors arent up to scratch?

[fx.practic]

I optimised on NT a lot of strategies, using BWT indicators. On forex market. Any of them made stable profit on big part of history.

[rcsingleton]

Are the Blue Wave Indicators supported under NT 7.x? My copy of these indicators are two years old. Will they work under NT 7.x or do I need an updated copy of the indicators?

[bluewave]

Now that Ninja Trader has come out with the first release candidate for NT7, Blue Wave Trading Precision Indicators are compatible with NT7. If you own a BWT license, please contact us for the download link.

The NEW BWT Precision Autotrader with will also work with NT7. Release expected around 12/01/10.

rms

[Kristopher]

Blue wave trading software is very helpful to give you adequate profit on your money. This software runs automatically and uses real time Forex market data for reliable trading scopes that are profitable for investment. The process is very simple but the software is very versatile. You can even have a look at Forex trading software.

[Devin01]

Trading Software or Forex Trading System should be able to actually analyze the market. A lot of programs out there these days can provide analysis on some of the most prominent traders around the globe. Also this software has got to have some sort of mathematical modeling formula put into place.