I made this system for a joke over a year ago when i realised everything the "real" vegas system implied the opposite happend! i thought i share it with you.
First go upload the Vegas Currency Indicator attached. Its modified to run as 55 SMA for the tunnel. The fib numbers are 21, 34 and 55.
You can run it on anytime frame from 15 mins to 4 hours but i think 1 hour works best. You can use it on the other majors but i tend to use it on euro you will have to change the fibo numbers in the indicator so the envelope "fits" the typical devation.
Now when the market goes up above the tunnel centre line past the 1st fibo we sell ONE lot. When we go to 2nd fib we sell TWO lots when we go to the 3rd fib we sell THREE lots Now we hope n pray it comes back to the tunnel where we take profit.
Of course sometimes the market trends and this is how i deal with this. If the price exceed the last fib by about 15/20 pips we close all the shorts as a hard stop and reverse and open 3 lots long. Now the tunnel price becomes the stop. Yes this is painful but sometimes this is a valid breakout and can run for over 200 pips. Other times it makes an additional loss cos the market just simply went stop hunting but there is no way to know what will happen next.
The reverse is true for buying during range bound. We buy every fib below the tunnel 1 lots each and we close, reverse and sell the breakout 15/20 pips below the bottom fibo otherwise full profit is taken when the price returns to the tunnel.
There are two amazing things with this system that has created pain and suffering for years with the old vegas. This needs NO DIALS, no indicators no thought, no intuition... nada. It doesnt suffer from tunnel losses not in the same way anyway becuase the tunnel is used for TP during rangebound and hard stop or TP when trending. For practical purposes especially around news time you need to add prior static orders on the fibs because sometimes a spike can go up though 2 or 3 fibs so fast you dont get time to place orders unless they are already setup. Often price returns just as quick thus collecting a very fast profit. Quite simply, dont assume anything just follow the rules. This system copes with both types of market and does quite a good job at both. The times we are rangebound its profitable and the 5 or 6 times a year the market trends for hundreds of pips without a break you wont miss these moves either so this is not really a joke system at all but one that really works. No doubt you will find your own rules for this system but i wouldnt make it too complicated or you will break it
First go upload the Vegas Currency Indicator attached. Its modified to run as 55 SMA for the tunnel. The fib numbers are 21, 34 and 55.
You can run it on anytime frame from 15 mins to 4 hours but i think 1 hour works best. You can use it on the other majors but i tend to use it on euro you will have to change the fibo numbers in the indicator so the envelope "fits" the typical devation.
Now when the market goes up above the tunnel centre line past the 1st fibo we sell ONE lot. When we go to 2nd fib we sell TWO lots when we go to the 3rd fib we sell THREE lots Now we hope n pray it comes back to the tunnel where we take profit.
Of course sometimes the market trends and this is how i deal with this. If the price exceed the last fib by about 15/20 pips we close all the shorts as a hard stop and reverse and open 3 lots long. Now the tunnel price becomes the stop. Yes this is painful but sometimes this is a valid breakout and can run for over 200 pips. Other times it makes an additional loss cos the market just simply went stop hunting but there is no way to know what will happen next.
The reverse is true for buying during range bound. We buy every fib below the tunnel 1 lots each and we close, reverse and sell the breakout 15/20 pips below the bottom fibo otherwise full profit is taken when the price returns to the tunnel.
There are two amazing things with this system that has created pain and suffering for years with the old vegas. This needs NO DIALS, no indicators no thought, no intuition... nada. It doesnt suffer from tunnel losses not in the same way anyway becuase the tunnel is used for TP during rangebound and hard stop or TP when trending. For practical purposes especially around news time you need to add prior static orders on the fibs because sometimes a spike can go up though 2 or 3 fibs so fast you dont get time to place orders unless they are already setup. Often price returns just as quick thus collecting a very fast profit. Quite simply, dont assume anything just follow the rules. This system copes with both types of market and does quite a good job at both. The times we are rangebound its profitable and the 5 or 6 times a year the market trends for hundreds of pips without a break you wont miss these moves either so this is not really a joke system at all but one that really works. No doubt you will find your own rules for this system but i wouldnt make it too complicated or you will break it
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Vegas Currency Daily.ex4
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