HOW-TO: Wolfe Strategy [Trendoscope]
Just made this short video to explain the concepts of Wolfe Strategy which I recently published.
Wolfe wave is popular concept among option traders. However, I have made some tweaks in this strategy to standard wolfe pattern trade rules.
Few possible future improvements
Thanks for listening. Hope you enjoyed and learnt something from this :)
Wolfe wave is popular concept among option traders. However, I have made some tweaks in this strategy to standard wolfe pattern trade rules.
- Entry price based on breakout
- No moving target - using flat target.
- Entry is done based on risk reward
- Not time bound
- Intelligently decides whether to place stop order or limit order
Few possible future improvements
- Make bidirectional trades possible
- Better filters to chose long and short trades or when to trade
- Lot can be improved on Wolfe scanner to identify more patterns
- Exit strategy - can introduce optional trailing
Thanks for listening. Hope you enjoyed and learnt something from this :)
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Telegram: p.trendoscope.io/telegram
Rate us : trustpilot.com/review/trendoscope.io
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