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Vegas 4 Hour strategy

  • #1
  • First Post: Mar 12, 2006 10:59am Mar 12, 2006 10:59am
Hi,

Im planning to trade this system with real money as of 1. of April.
Starting capital will be USD 100.000,00. Can't wait to get started, I will focus 100% on this system and hope it will be as good as it seems...

Anyone in here who has good tips, experience, hints e.t.c on this particular 4HR system?

(I choose this rather than the 1HR system, as i prefer less trades and more
stable ones..)

Thanks in advcance..

And thank you Vegas for all the inspiration
  • #2
  • Mar 12, 2006 11:14am Mar 12, 2006 11:14am
Quoting fingotrader
Hi,

Im planning to trade this system with real money as of 1. of April.
Starting capital will be USD 100.000,00. Can't wait to get started, I will focus 100% on this system and hope it will be as good as it seems...

Anyone in here who has good tips, experience, hints e.t.c on this particular 4HR system?

(I choose this rather than the 1HR system, as i prefer less trades and more
stable ones..)

Thanks in advcance..

And thank you Vegas for all the inspiration

Have you traded this on a Demo yet? How are you picking the "Trade Trend"?
If you havent traded 4hr tunnel on a demo your crazy for going live with it. Espcially with that kind of money.
  • #3
  • Mar 12, 2006 11:33am Mar 12, 2006 11:33am
Quoting fingotrader
Hi,

Im planning to trade this system with real money as of 1. of April.
Starting capital will be USD 100.000,00. Can't wait to get started, I will focus 100% on this system and hope it will be as good as it seems...

Anyone in here who has good tips, experience, hints e.t.c on this particular 4HR system?

(I choose this rather than the 1HR system, as i prefer less trades and more
stable ones..)

Thanks in advcance..

And thank you Vegas for all the inspiration
Hi fingotrader,

The fact that you even asked the question I've highlighted in red, tells me that you are NOT ready to trade the V4 live. It is a great system, but you have to learn how to trade it via demo or very tiny position sizes. Continue to do that until you have developed your own confidence in yourself and the system.

The V4 is a great system, especially with the recent update of using the daily chart for choosing trade direction. But having a great system is not enough. The one trading it must also have developed certain mindsets and skills that allows them to profit from a good system.

If you haven't done so, locate the thread entitled "Lost in the Tunnel" for more information on trading the V4 system.

Please do NOT trade live. You are not ready. But with much practice and hard work, you can someday be able to.

Dial
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  • #4
  • Mar 12, 2006 3:07pm Mar 12, 2006 3:07pm
He said april 1st. He has time. IF he will spend 12H a day studing 4H model... I think it can be done
GOOD LUCK
Try hard, think fast, die young
  • #5
  • Mar 12, 2006 8:28pm Mar 12, 2006 8:28pm
in particular NFP fridays. if you look at last friday NFP the 4hr tunnel chart shows momentum long GBP/USD. however, NFP is NFP and if it's better than expected, screw the momentum or anything else. just my 2 cents.
  • #6
  • Mar 13, 2006 4:44am Mar 13, 2006 4:44am
I know we're all different... and for myself, one who has been demoing the 4hr since i saw it last fall, i'm no where near ready to trade it live except for maybe 1/2% or less at risk, but even at that, i'm passing for a while yet.

: - )
  • #7
  • Mar 13, 2006 4:54am Mar 13, 2006 4:54am
Hi all,

thanks for all the "concern" and helpfull advices!

I have demotraded and I did made "demomoney"

Problem is, i cannot pay my bills with demomoney!

Still hope to hear from traders who has gone live with this
4HR strategy....
  • #8
  • Mar 13, 2006 5:32am Mar 13, 2006 5:32am
I finally found the "Lost In The Tunnel" thread. It is under Forex Forums > Journal Factory

I read the first page of posts and found this to be an excellent resource on understanding the four hour tunnel. Here is the link:

http://www.forexfactory.com/forexfor...ht=Lost+Tunnel

Now I have some serious reading to get to...
  • #9
  • Mar 13, 2006 7:00am Mar 13, 2006 7:00am
Quoting fingotrader
Hi all,

thanks for all the "concern" and helpfull advices!

I have demotraded and I did made "demomoney"

Problem is, i cannot pay my bills with demomoney!

Still hope to hear from traders who has gone live with this
4HR strategy....
Hi fingotrader,

Trading demo and trading live are two different beasts. If you insist on trading live, then open a micro account ($1000 lots) and trade the V4 with a SINGLE micro lot (10 cents per pip). If you have a profit after twenty trades, then you can increase your position size by 1 micro lot every twenty trades as long as you are still making profit. If you ever have 20 trades where you show a loss, decrease your size back down by 1 micro lot and start over. I know this is extreme, but it is the best way I know for a beginner to trade live without blowing his account.

Open your live micro account with only $2000. After you've lost all that, then analyze your mistakes and try again with another $2000.

While there are exceptions, most traders learn discipline through a blown account.

We're not trying to take your cookie away from you. We're just telling you how to best enjoy your cookies for years to come.

Quote
Problem is, i cannot pay my bills with demomoney!

You can't pay your bills with a blown account either. Learning to trade is hard enough. Adding the pressure of having to make money to pay bills is a death warrant. Your account will die.




Dial
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  • #10
  • Mar 13, 2006 7:06am Mar 13, 2006 7:06am
Quoting dof
He said april 1st. He has time. IF he will spend 12H a day studing 4H model... I think it can be done
GOOD LUCK
Not a chance. Not if he's just started trading. If he's been trading for at least a year, then maybe (small maybe).
sxaxlxvxaxtxixoxnxbxyxgxrxaxcxexdxoxtxoxrxgx
  • #11
  • Mar 13, 2006 7:49am Mar 13, 2006 7:49am
Quoting dice
in particular NFP fridays. if you look at last friday NFP the 4hr tunnel chart shows momentum long GBP/USD. however, NFP is NFP and if it's better than expected, screw the momentum or anything else. just my 2 cents.

Hey Dice,

The 4hr tunnel Weekly Momentum was short on my charts. Which service do you use?

HJ
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HeavyJ -"Posterboy for Spellchecker!" "Will work for pips!"
  • #12
  • Mar 13, 2006 8:23am Mar 13, 2006 8:23am
Quoting HeavyJ
Hey Dice,

The 4hr tunnel Weekly Momentum was short on my charts. Which service do you use?

HJ
I was also looking at this.. But I just looked at it..
Like looking at the knife from afar to know more about it..

And yes, I will also not enter secondary trades when it is below/above the first take profit...
  • #13
  • Mar 14, 2006 7:50am Mar 14, 2006 7:50am
Maybe I have interpreted the 4hr tunnel incorrectly. On Wednesday March 8th, the slope of the 8SMA turned from negative to zero, then changed to positive. It was also below the 55SMA. The 4HR tunnel said that when the 8SMA crosses over the 55SMA (downwards), and the slope changes as mentioned, then you should look to go long. So I did...it was doing ok, clearly defining a bottom. I figured NFP was already factored into the price since the expected figures were already published on the forex factory calendar on Monday. I have to admit, I wasn't sure what was going to happen Friday so I held my stops tighter at 35 pips below entry.

I am now re-analysing the MAs. Should I consider that the slope of the 55SMA was negative and therefore market was still bearish?

Long story short, lost 35 pips x 4 lots (10k each). Thanks for your responses, guys can someone help me understand what happened last week? I'm still kind of reeling from it.

BTW I use MT4.
  • #14
  • Mar 14, 2006 8:09am Mar 14, 2006 8:09am
Quoting dice
Maybe I have interpreted the 4hr tunnel incorrectly. On Wednesday March 8th, the slope of the 8SMA turned from negative to zero, then changed to positive. It was also below the 55SMA. The 4HR tunnel said that when the 8SMA crosses over the 55SMA (downwards), and the slope changes as mentioned, then you should look to go long. So I did...it was doing ok, clearly defining a bottom. I figured NFP was already factored into the price since the expected figures were already published on the forex factory calendar on Monday. I have to admit, I wasn't sure what was going to happen Friday so I held my stops tighter at 35 pips below entry.

I am now re-analysing the MAs. Should I consider that the slope of the 55SMA was negative and therefore market was still bearish?

Long story short, lost 35 pips x 4 lots (10k each). Thanks for your responses, guys can someone help me understand what happened last week? I'm still kind of reeling from it.

BTW I use MT4.
hi dice,

I'm not sure which currency you're talking about, but your understanding of a long signal is correct provided the longer term trend is also up.

Vegas said to enter on a change of slope of the 8 SMA but he didn't specify how much of a change. But, he also said in his document that the reason he chose to use the 8 SMA was to more precisely choose his entries, but he didn't explain how. So, what Team Aphid and I came up with was to look at the close of 8 bars ago, and draw a horizontal line from there to the right. When price is right on that "Neutral Line" the slope of the 8 SMA is exactly neutral. I usually enter my trades when price has moved 20 pips beyond the Neutral Line. By having this specific entry, I am able to put in Entry Stop orders in advance, and simply adjust them every 4 hours. Quite convenient, and no second guessing if the slope has changed.

Don't worry about the loss. As long as you followed your rules for entry, stops, exits and money management, it was a good trade. You can't win them all; no one can. But, the V4 give a great probablistic edge which will pay off over time as long as you apply the method the same way for each and every trade.

And here's my take on playing the method the same every time....it means exactly that......the same......every time. To put it bluntly, I don't consider news or fundamentals at all. I a method gives me a signal to enter, I enter, and I don't exit until the method tells me to.

For more info on the use of the NL+20 rule, read the "Lost in the Tunnel" thread started by HeavyJ.

Hope this helps.

Dial

P.S. Early on in my trading I had purchased a book entitled "Use the News" by Maria Bartiromo, anchor for CNBC. That book ending up collecting dust on my bookshelf. Here's how I use CNBC. I carefully adjust the sound and picture on my TV for best quality and then make two very important adjustments. (1) Turn the TV off and (2) unplug it!
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  • #15
  • Mar 14, 2006 8:41am Mar 14, 2006 8:41am
HJ put up a chart a couple of messages ago (scroll up). if you notice, after cable's tumble from 1.7600 to 1.7350, the slope of 8SMA goes from neg to pos.

thanks for the feedback dial. i am still wondering...does the slope of the 55 SMA matter? that is, if it's neg, market is still bearish. well, i'll read that "lost in the tunnel thread" and continue making observations on MT4. I really should start to make notes on the chart to help me be consistent.
  • #16
  • Mar 14, 2006 9:06am Mar 14, 2006 9:06am
Quoting dice
HJ put up a chart a couple of messages ago (scroll up). if you notice, after cable's tumble from 1.7600 to 1.7350, the slope of 8SMA goes from neg to pos.

thanks for the feedback dial. i am still wondering...does the slope of the 55 SMA matter? that is, if it's neg, market is still bearish. well, i'll read that "lost in the tunnel thread" and continue making observations on MT4. I really should start to make notes on the chart to help me be consistent.
I used to give some credence to the slope of the 55, but after a while I found too little value in it to use in determining trade direction. It tells what price has done and not what it is going to do. It changes direction too abruptly (and after the fact) for me so I've pretty much quit paying attention to it's slope. Besides, the slope of the 55 was never in the rules anyway.
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  • #17
  • Mar 14, 2006 4:49pm Mar 14, 2006 4:49pm
Quoting diallist
P.S. Early on in my trading I had purchased a book entitled "Use the News" by Maria Bartiromo, anchor for CNBC. That book ending up collecting dust on my bookshelf. Here's how I use CNBC. I carefully adjust the sound and picture on my TV for best quality and then make two very important adjustments. (1) Turn the TV off and (2) unplug it!

Hahahah....
Thank you for sharing this Dial..
I have to learn how to do this...
  • #18
  • Sep 11, 2008 5:53am Sep 11, 2008 5:53am
thanks dialist.
  • #19
  • Last Post: Sep 11, 2008 8:43am Sep 11, 2008 8:43am
since this thread got resurrected, i have to ask: fingotrader, how's it going ? living on an island already ? cause i can't seem to find info on your last log in here in FF, so it must have been a while ago
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