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Attachments: Vegas Wealth Builder - Part I
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Vegas Wealth Builder - Part I

  • #421
  • Dec 24, 2006 8:53am Dec 24, 2006 8:53am
Quoting kharvell
Vegas,

I am new to this forum, and relatively new to forex. While I have made roughly 100% in 4 months using news, I am quite excited to see your 4hr system. After looking at the backtesting results, I realize I could potentially LOVE you ! Thanks for all the hard work you've put in here, and I am excited about trying out your system!

I do have a question which I am sure has been answered elsewhere, but I can't seem to find the answer to:

You mention that stop loss should be based upon technicals... I'm not sure what you mean by this, and was hoping you could clarify more specifically.

Again, a thousand thanks to you
I believe that by technicals he means support and resistance levels (ie trendlines, MA, prior swing high's/low's). Also since the strategy is meant for the 4h timeframe your stop should be ruther large 80-120 or even more depending on the pairs volatility. If you need a better explanation about the stops let me know and i will post a chart.
HTH
Stubbornly persistent
  • #422
  • Jan 4, 2007 1:14pm Jan 4, 2007 1:14pm
All,

I am starting to read from the beginning of this thread about the vegas system and such. I have had several friends refer me to this system. Is this the best way to learn? Start from the beginning of this thread?

Thanks,

BearPaw
  • #423
  • Jan 10, 2007 3:30pm Jan 10, 2007 3:30pm
Quote
Put the 12 ema [1 hour] on your screen with the rest of your indicators. When everything is at the same price [tunnel, current market price, 12 ema]sit up and take notice. When the market breaks away from the tunnel, there is a very high probability of a strong market move coming.
....
Need proof? Well, go back on your favorite currency pair and check it out. In the first quarter of 2005, this filter alone produced 20 trades, 19 which were profitable in USD/CHF. In fact, as I write this, 1 trade is still on from about 3 handles ago. Since I am not responsible for Swissy, I'm not the guy pushing the button, only monitoring it when I'm at the screen [changing stops when needed, etc.]. But, the position is still on.
.....
We also define "same price" as being within 5 pips or so of being equal. Sometimes it turns out the signal is exact, but I don't think you have to split hairs on this. Within 5 pips is good enough for us.

I've read that part over and over and just don't understand it
Everything needs to be within 5 pips distance.
Does that mean:
- both lines of the tunnel
- Current price
- the EMA(12) cross.

How can that ever happen.
The EMA(12) usally lags 3-5 bars.
The filter is supposed to find strong trends.
But strong trends travel much further than 5 pips in 3-5 bars.

Can someone please be so kind to post a detailed description of one such situation?

Thanks.
May the pips be with you.
  • #424
  • Jan 11, 2007 12:08pm Jan 11, 2007 12:08pm
'We also define "same price" as being within 5 pips or so of being equal. Sometimes it turns out the signal is exact, but I don't think you have to split hairs on this. Within 5 pips is good enough for us.'

I am going to specifically address this particular quote. If I am not mistaken, this portion of the analysis refers to knowing whether two candlesticks, or bars, have made a "double-high" or "double-low"....which is what 'same price' means. Some folks looks for the absolute value of the high/low of both candles to match, but here Vegas is saying that even if the prices are within 5 pips of each other, you can still consider them to be the same price, for our purposes....a.k.a: double-high and/or double-low.

The other two comments refer to a different section of the Vegas method, and are not related to the 'same price' analysis.

Hope this helps.
  • #425
  • Jan 11, 2007 12:23pm Jan 11, 2007 12:23pm
The other two comments refer to a different section of the Vegas method, and are not related to the 'same price' analysis.

Strange because everything I quotes was presented as one rule/point in 1HrTunnelMethod.pdf on page 8 point 1) of the "PART 3. THE FILTERS"
May the pips be with you.
  • #426
  • Jan 11, 2007 12:49pm Jan 11, 2007 12:49pm
Quoting TraderSeven
The other two comments refer to a different section of the Vegas method, and are not related to the 'same price' analysis.

Strange because everything I quotes was presented as one rule/point in 1HrTunnelMethod.pdf on page 8 point 1) of the "PART 3. THE FILTERS"
Ooopppsss...I think you're right, but let me go back to the documentation to be sure. I thought the last portion was referring to price action ONLY. But after reading your origial post again, I think I know what its speaking about. I will also dig up a chart for you where the parameters are exactly as mentioned, then you can 'see' what was meant in the method.

Sorry for providing the wrong answer. Didn't mean to confuse you more. I will help clear it up for you in a moment....
  • #427
  • Jan 15, 2007 9:15am Jan 15, 2007 9:15am
Hi,
I have just started to trade in forex market, the hard way. Somebody referred me to this site, and I am here. I am absolute new to technicals, how do you suggest I start using the vegas method, I read lot of praises of his hard work, can any one guide me on this?
  • #428
  • Feb 1, 2007 10:58pm Feb 1, 2007 10:58pm
I am starting to test the 4 hr Tunnel system. Can anybody tell me if we should wait until after the 4 hr candle is completed to trade. Also, do we pay any attention to the MA values of the week which is now forming or do we deel only with the values of previously completed week.
Thanks for your help.
  • #429
  • Feb 2, 2007 4:58pm Feb 2, 2007 4:58pm
go to tunneltrading.com click on downloads click on 4hr method.
  • #430
  • Edited 8:19pm Feb 6, 2007 4:02am | Edited 8:19pm
anyone watching the 1 H Tunnel? Seems like an imminent upside breakout. Let's see some action (hopefully). GBP/USD
  • #431
  • Feb 7, 2007 1:48pm Feb 7, 2007 1:48pm
lugmnaz.
ive been watching the 1hr chart recently and i think that if price breaks above the 1.9750 mark we could have anoter upward movement.
  • #432
  • Feb 19, 2007 5:58pm Feb 19, 2007 5:58pm
Quoting kharvell
Vegas,

I am new to this forum, and relatively new to forex. While I have made roughly 100% in 4 months using news, I am quite excited to see your 4hr system. After looking at the backtesting results, I realize I could potentially LOVE you ! Thanks for all the hard work you've put in here, and I am excited about trying out your system!

I do have a question which I am sure has been answered elsewhere, but I can't seem to find the answer to:

You mention that stop loss should be based upon technicals... I'm not sure what you mean by this, and was hoping you could clarify more specifically.

Again, a thousand thanks to you
Hey kharvell
I noticed that you have been trading the news with some success - I've been checking out how to trade the news. Can offer any recommendations on where to start or any systems that are working for you.
Thanks and I look forward to hearing back from you.
Kemton
  • #433
  • Feb 24, 2007 6:40am Feb 24, 2007 6:40am
are there any audited performance figures for Vegas?


I read all the posts with complaints
  • #434
  • Feb 24, 2007 7:11am Feb 24, 2007 7:11am
Quoting EL CID
are there any audited performance figures for Vegas?


I read all the posts with complaints
If you read the whole thread you would now where to look.
  • #435
  • Feb 24, 2007 8:19am Feb 24, 2007 8:19am
Quoting willf
If you read the whole thread you would now where to look.

All I find is Iffy sites selling systems and making all sorts of wild claims
about performance of the systems they sell.One has to assume there is no truth in any of the statements they make ...........any one can hide behind the handle on the net ..............and make all sorts of claims ....Like I am a professional trader , been trading for 20 years..............Who is to verify any of this B S


El Cid
  • #436
  • Feb 24, 2007 8:49am Feb 24, 2007 8:49am
This is al that stands out


Quote:
Originally Posted by Achilles heel http://www.forexfactory.com/images/buttons/viewpost.gif
Hey Vegas has a new scam running,its called COATS

Con Overly Avid TraderS

This seems like him for a way to actually suck money right out of your pocket.

Be Cautious!!

Best Regards,
Ah
  • #437
  • Feb 24, 2007 8:53am Feb 24, 2007 8:53am
Hi, The vegas method is a method that was freely posted. The performance and all the instructions and the stats are located here...

BTW Vegas Has also been a trader for more than 20 years...

I think most of the complaints arising are from the way the web site is run, not his methods.
http://www.forexfactory.com/showpost...86&postcount=1

Please read all the docs.

Quoting EL CID
This is al that stands out


Quote:
Originally Posted by Achilles heel http://www.forexfactory.com/images/buttons/viewpost.gif
Hey Vegas has a new scam running,its called COATS

Con Overly Avid TraderS

This seems like him for a way to actually suck money right out of your pocket.

Be Cautious!!

Best Regards,
Ah
  • #438
  • Feb 24, 2007 11:28am Feb 24, 2007 11:28am
Quoting smjones
Hi, The vegas method is a method that was freely posted. The performance and all the instructions and the stats are located here...

BTW Vegas Has also been a trader for more than 20 years...

I think most of the complaints arising are from the way the web site is run, not his methods.
http://www.forexfactory.com/showpost...86&postcount=1

Please read all the docs.

As I have said in other threads, the system vegas trades for this signal service is not any of his published systems. Its something new. Just letting you know.

I also recall reading threads that say some have backtested the 1 hour tunnel method as vegas says it shoudl be run and they came up with net loss.

As far as vegas being a trader for 20 years, it starting to look like he may have traded with mixed results over the course of 20 years, but found fleecing people is more profitable for him.

Best Regards,
Ah.
  • #439
  • Feb 24, 2007 11:57am Feb 24, 2007 11:57am
Quoting Achilles heel
As I have said in other threads, the system vegas trades for this signal service is not any of his published systems. Its something new. Just letting you know.

I also recall reading threads that say some have backtested the 1 hour tunnel method as vegas says it shoudl be run and they came up with net loss.

As far as vegas being a trader for 20 years, it starting to look like he may have traded with mixed results over the course of 20 years, but found fleecing people is more profitable for him.

Best Regards,
Ah.
A H

You got it right.Is this site haunted by snake oil salesmen and their desciples , trying to support the serpents?.If the serpents can fleece the newbees ...what easier prey than the difficult fx market?

Here is a 5 year test on hourly charts of a cable strategy.The parameters can be slightly different but the end result the won't be much different

The strategy was unprofitable on cable

El Cid
Attached File(s)
File Type: zip WMA12.zip   58 KB | 1,154 downloads
  • #440
  • Feb 24, 2007 12:53pm Feb 24, 2007 12:53pm
Quoting EL CID
A H

You got it right.Is this site haunted by snake oil salesmen and their desciples , trying to support the serpents?.If the serpents can fleece the newbees ...what easier prey than the difficult fx market?
All I have ever found at this site is a bunch of helpful, like-minded people that were willing to help and share their knowledge.

Nobody has ever attempted to fleece me, quite the opposite actually.

I am sure the admins of this site would appreciate it if you could point out the posts were people are selling 'snake oil' so that they can be deleted.
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