Where to get started?

This is a general purpose room for anything that doesn't seem to fit into any of the more specialized areas.
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Where to get started?

Post by bob_loblaw » Tue Oct 16, 2018 4:35 pm

Hi all,

This is my first post on this board. I discovered Wave59 just recently, and am currently suffering from information overload, lol. My background is in spot forex (mostly price action, with some automated trading), but I'd like to switch to day trading futures, and I am not sure which Wave59 product would best suit my needs.

Browsing the bookstore, there are a lot of options, but Unified Theory of Markets, Handbook of Market Esoterica, and Techniques of an Astrotrader caught my eye. Out of these, what would be the best starting point? Should I start somewhere else? I have zero experience with astrology or astro-finance.


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Re: Where to get started?

Post by sbank » Wed Oct 17, 2018 12:54 pm

Hi Bob. Welcome to our slice of the world!

I don't have the Market Esoterica or the Unified Theoreies books. But I do own the Mechanical Trading, the Astrotrader, (and also the Las Vegas User Symposiums.) Here is my personal recomendation from that and using Wave59 for 5 years (6 years?!).

If you feel you would ever write your own auto trading setups (mechanical trading), then of course that book is meant for you. I have been programming for years, and when I read the book, I just remember nodding all the time in agreement and similar thoughts and failures that I have had. What I find unique about this book, is that Earik doesn't just present the content and say, "there you go." He almost challenges you. He'll say, "Here's the content. Oh. And I will *proove* it to you that this is the better way to do it." I am skeptical by nature. So when I see a clear outline of steps and a thorough investigation of each step, it gives me some confidence in putting my money to work.

If you feel you would never write your own mechanical system, then I would say:

Step 1) Watch all the Wave59 videos on the website in your personal login area. Some of them are quite dated. But they will be a background on everything else.
Step 2) I do like the Astrotrader book. It is more than just Astrology. There are some good nuggets of info about entering and exiting trades. The book also contains videos watching Earik trade for a full week. You can see his decision making process "live." I think this was a nice valuable addition to me. Coming back to the Astrology topic, Earik's presentation of the material is similar to the mechnical trading book in that he works to proove why you do the various steps as outlined in the book. Earik's point is pretty much, "I don't care if I use Astrology or sea snails. As long as I can proove that it makes money and is robust, then I will use it."

Hopefully this helps.

PS: Earik didn't say any of those things in double-quotes, but you get the idea. :)

Edit: Had another thought. My understanding of the market esoterica and unified theories book is that it is more around geometries and drawing trendlines on the chart. Which is no interest to me, frankly speaking. I am more of the technical analysis type person where I use mathematical oscillators and such to trade. If you are more of the breakout trader, or you use trendlines or circles and such to draw on the chart, then these books might be useful. I am sure others will chime in to help.

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Re: Where to get started?

Post by earik » Fri Oct 19, 2018 6:32 pm

Hey Bob,

A lot depends on your style of trading. SBank gave some great input for a more "left brained" sort of person who likes to test things and build systems. That's about half the community here. The other half are the ones that are doing chart reading, sometimes using very esoteric tools. If you're the kind of trader that would be completely comfortable with drawing a huge spiral on your chart, then waiting for price to bounce up against one of those lines in the future, you'd definitely qualify for that second category. If that's you, start with Market Esoterica. It will give you a ton of information to work with. Then you can get a feel for how W59 tends to approach things, and will have a lot of other courses to turn to when you want more.

Welcome aboard. :D


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