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VWVB Daily Chart Analysis

  • #701
  • May 11, 2006 7:59am May 11, 2006 7:59am
In case anyone is interested...

Early last nite (EST) the GBP/USD broke the "wave" very strongly on my 1hr chart (as did several other pairs) so I entered short and decided to treat it as a day trade. After I was 30+ pips into profit I moved my stop loss to 1 pip in profit. Woke up this AM to find I had been stopped out as price had broken back up through the wave to the upside. I was going to set a stop limit, but I decided to let it go in case the price really started to descend during the London session.

I'm still very leary of the strength of the $$. Will keep waiting for opportunties. Not sure what else to look for as far as reversal signals on the daily candles. I guess I am to assume that I handled it correctly last nite.
  • #702
  • May 14, 2006 6:55am May 14, 2006 6:55am
I am personally still with Vegas System. I think it is good for all of us, to see that there are no systems which are "perfect". Normally - for a number of reasons - prices should behave like prognosted in the Vegas.

It is difficult to think on two opinions. Why I personally feel for example GBP should really soon smash down, I as well trade with the trend (with carefull but tollerant stops) and make an awfull lot of money.

My favourite weakness Indicator "DeMarker" gets constantly kicked in its bottom (mega overbought, but it still buys more) and I see why TA is inferior to a sound and healthy intuition.

The markets will be against USD as long as some Big-Wig decides to do something for the USD.

Again our theme should be "The trend is your friend"

"... until the trend is going to change". That though the majority of us will see to late. This is why I invest reasonable lots into the trend, not too scared (no too tight sl), but I will not bet my house each day on the stability of this trend. At the meantime I have made some +50% on my capital with 5% risks betting with the trend and not getting scared.
  • #703
  • May 14, 2006 6:52pm May 14, 2006 6:52pm
That was nice i was just looking at the daily when the signal came . Should be interesting.
Anyone else short aud usd?
swami S
GOD IS NOT SHORT OF CASH
  • #704
  • May 14, 2006 6:55pm May 14, 2006 6:55pm
Quoting Swami S
That was nice i was just looking at the daily when the signal came . Should be interesting.
Anyone else short aud usd?
swami S
Long time no hear, your short AUD ? Is that based on the dailies or wat let me know.
  • #705
  • May 25, 2006 6:15am May 25, 2006 6:15am
Quoting fukinagashi
I am personally still with Vegas System. I think it is good for all of us, to see that there are no systems which are "perfect". Normally - for a number of reasons - prices should behave like prognosted in the Vegas.

It is difficult to think on two opinions. Why I personally feel for example GBP should really soon smash down, I as well trade with the trend (with carefull but tollerant stops) and make an awfull lot of money.

My favourite weakness Indicator "DeMarker" gets constantly kicked in its bottom (mega overbought, but it still buys more) and I see why TA is inferior to a sound and healthy intuition.

The markets will be against USD as long as some Big-Wig decides to do something for the USD.

Again our theme should be "The trend is your friend"

"... until the trend is going to change". That though the majority of us will see to late. This is why I invest reasonable lots into the trend, not too scared (no too tight sl), but I will not bet my house each day on the stability of this trend. At the meantime I have made some +50% on my capital with 5% risks betting with the trend and not getting scared.
Hi Fukinagashi,

you said you like to trade with the trend. I like VWB, but for me it is also difficult to think two opinions. What System do you trade with the trend? Vegas 4Hr Tunnelmethode?

Kind Regards

erkro
  • #706
  • May 28, 2006 5:29pm May 28, 2006 5:29pm
Quoting erkro
Hi Fukinagashi,

you said you like to trade with the trend. I like VWB, but for me it is also difficult to think two opinions. What System do you trade with the trend? Vegas 4Hr Tunnelmethode?

Kind Regards

erkro
I am only speaking about a long term perspective. I do trade intraday, but no serious trades.

Having said this: Longterm-Trading with the trend (given we have a trend like recently with a weak dollar) is for me easier then trying to predict when the trend turns. In the past I lost x pips to failed predictions of turning trends now I loose x/2 pips to the fact that I am not as fast as the sharp guys realizing the trend has turned.

But I still like to get a feeling when the trend "might" turn. You can use several overbought indicators and for example the VWB-method. That does not mean that I try to predict the turn arround, but if we see this week levels of 1.85/1.27 and 113.5/114 violated I am willing to bet for a strong dollar, because VWB (and other systems) are hinting that for some time now.

But thats me ...
  • #707
  • Jun 1, 2007 12:13am Jun 1, 2007 12:13am
And trading this system?
  • #708
  • Jun 2, 2007 2:07pm Jun 2, 2007 2:07pm
Quoting ocelot
And trading this system?
I trade a tweaked version of the vegas daily strat. Play around with the system to see if it fits your style of trading. Take the time to learn the pros and cons of the strat.

Happy Trading 2 U ...
If it is not broken, fix it until it is!
  • #709
  • Last Post: Jun 3, 2007 2:27pm Jun 3, 2007 2:27pm
Thanks for responding Pipex, glad to hear the system is still in use. You mentioned you tweaked Vegas' original system, how have your results been? I love the simplicity of looking for reversal patterns past key fib levels. It's simple, but clearly not easy. I've looked over a few pairs and this system appears to work best in ranging markets that have some volatility. In a tight-ranging market it doesn't work at all as the fib levels are never breached and of course in a strong trend it doesn't work either. Have you or anyone else made any modifications to address these two states or do you just completely ignore pairs in tight ranges or in strong trends? Thanks for sharing!
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