Vegas Wealth Builder - Part I

Hello everyone....(newbie alert)....lol.

I have just found the thread and respect what Vegas has try to do here, a Pro trader trying to help us small traders out has to be respected.

Now to be honest here, I have done nothing more than glance at this thread and at the Vegas doc as it's quite late at night here in the U.K and will keep the serious reading for another time.

I have just set-up the EMA's on my 1 hour chart and to me it doesn't look like this system is creating a tunnel.

Vegas said that the 169 & 144 EMA's will create a tunnel and when price goes above you buy and when price goes below you sell.
Looking at my chart there isn't too much of a tunnel effect going on, and price doesn't seem to sit anywhere close to the EMA's. Price does clip the EMA's here and there but I was expecting a tunnel effect.

As said above I am a newbie so I may not even have things set-up on my chart correctly.
The EMA's are they applied to close or open etc ??

Am I maybe miles off here expecting a tunnel with the EMA's ??

I will read the thread and the docs thoroughly when I get a chance but can someone maybe put up a shot of one of their charts so I could compare to mine ?

The blue line is the 169 EMA.
The red line is the 144 EMA.
The yellow line is the 12 EMA.

Many Thanks and Good Trading

Harmudge

Hi guy's, me again....lol.

Had a brief read of the Vegas doc part 1 at work today....on the sly.
I now have a slightly better idea of what the chart and tunnel should look like, so please disregard the above post.

I have been trying to download the zip file that diallist put up on the first page of this thread (http://www.forexfactory.com/vegas_files.zip) without success, I get a google message saying -
Oops! This link appears to be broken.

Where has this page or doc's gone to ??

I have also been trying to find Vegas's site that has been mentioned in some of the doc's - www.tunneltrading.com, also without any success.

Have I missed the boat on the above mentioned zip file and the Vegas website.


Vegas if your still around and read this.

From the brief introduction I have read in your part 1 doc about you starting out in the trading pits etc, you have my ut-most respect for what you have done by bringing your knowledge and insight of what it takes to be a Pro Trader to the forum for all to share.
I loved your story of your first day in the pits....."Much Respect".

Harmudge

i uploaded the zip file on post 459. try that.

Many, many thanks srelhed....I thought I was on my own here...lol.

Have you tried this trading concept ??
It looks very promising to me, but hay...I'm a newbie...everything looks promising to me with only 4 months experience under my belt...lol.

Best Wishes

Harmudge.

Hello all, as I said in my first post in this thread a few days ago that I would probably have a few more questions to follow...lol.

Can one of you kind folk please take a look at my chart for me and tell me if there is anything missing ??

There seems to be so many attachments associated with this thread that you guy's have put up, but I don't really know which is which....lol.

I looked at the attachment file that is on diallist's post (number 1 of this thread).
Located at the top right of that post and downloaded and inserted the attachments on my chart named :-

Vegas Currency Daily_dwe
Vegas S_P Daily

As you can see from the attached snap-shot of my chart I have 24 & 28 EMA's (should they not be 169, 144 & 12 EMA's as in the VWB doc ??)and what looks to me to be 3 Fibo lines either side of those EMA's.

What's making me think I have something missing is, that fairly early on in the thread....where I am still reading, incidentally....some members are asking for help loading the necessary indicators onto their charts and people are saying you need to load this file and that file twice and it should be numbered 1 and 2 etc etc so you have the Fibo lines either side of the EMA's.
You should also have risk model this and risk model that ??

This is one of those questions about loading the Fibo's etc (Posted by pabad)

Start of pabad's post:-

EUR/USD - Model # 1 AND Model #2. Overlay #2 after you have setup Model #1. Just go back and do #2. This will now produce an overlap of #1 and #2 And produce 4 fib lines on both sides of the tunnel [for a total of 8]. You will now have fib numbers calculated at 89, 144, 233, and 377 from the daily tunnel.

When I pull up the daily chart on MT4 for EUR/USD with the Vegas indicator, I see on the upper left hand corner:

RISK MODEL #1 (1-4)

How do I overlay #2 so that 4 fib lines are displayed on both sides of the tunnel as stated above?

End of pabad's post.


"Me again"......I only had to load the above noted files once and seem to have Fibo lines both sides of the EMA's, but I only have risk file 1 showing in the top left of my chart with numbers 1-4 in brackets ??

What is this risk file ??

I'm sorry if all my questions seem dumb, but as stated earlier I am a newbie and have merely taken the first steps of Forex enlightenment.....we all have to start off somewhere and you yourself were once where I am now, so come on guy's help a newbie out and spread some good trading karma....just as Vegas himself done for you guy's when he brought his trading model to the forum.

"What goes around comes around".


Best Wishes

Harmudge

I can here you all moaning and groaning....."Here we go again, this pain in the butt with another question".....lol.


To diallist or anyone else that can answer this question :-

PF, I take to mean Private Forum.
On page 8 of this thread diallist mentions the PF (private forum).
To which private forum are we talking about ?
Are you reffering to Vegas's site that he mentioned in his doc's (that I can't seem to find) or the James16 group private forum ??


Best Wishes

Harmudge


P.S

Am I the only one keeping this thread alive ??
Thanks to srelhead who gave me a reply last night but no-one else got any input to my questions ??

yup you are keeping this thread alive.

pf. i believe is the james16 private forum.

james16 started one of the more notable threads here at FF. It is in the commercial section. It is a must read. Here's the link.

http://www.forexfactory.com/showthread.php?t=2331

james16 himself said the the vegas method combined with his PA methodology works fairly well.

The PF has a trading system called the Knife which is based off the 4hr vegas.

It is suppose to be a money maker.

I think the stuff vegas posted is of value, you just have to figure out how to make it work for you.

This thread pretty much died when vegas went commercial. not a lot activity since then.

if you have any questions just pm me.

some history.

long ago vegas got involved here with a couple of systems.

they were very popular and vegas took them commercial.

the last i heard vegas had disbanded and dissapeared (thats what i heard-i could be wrong)

during those early years dial created a variation called the knife (with vegas' approval) and it was included in the pf.

dial was buried and burned out and decided to turn it over to a student within the pf.

that person still teaches it (for years now) and it remains a popular section within the pf.

jim

Hi Jim, I am a new member and came across this thread.I am interested in one hour tunnel method.Is it still working and applicable/
Thanks

Well guy's thank you very much for some insights, there.

Will definately have a look at those threads.


Best Wishes

Harmudge

Hi Guy's,
I'm back....lol.

O.K I have read this thread through and also read the VWB document, and am currently reading the VWB2 thread and document.

It would be greatly appreciated if some of you guy's that have implemented this trading model could confirm wether I have got my head around this correctly.

This is how I think this model should be worked :-

1) Watching the relative pairs as mentioned in the VWB you wait for price to get to the outer Fib's (#2 for some pairs,#3 for some pairs), once price has touched or breached them thats when you sit-up and take notice.

2) Once price is at the outer Fib's you are then watching for a reversal candles such as Hammers, Hanging Men, Shooting Stars etc.

3) Once you have got the reversal candle, next day you gauge the current days range (Hi and Low) from the Asian open and measure a 50% of this range.

4) What you are looking for next, is a good tall candle or two to breach this 50% measure of the current days range (momentum). You don't want the breach of the 50% measure to be broken by like...say 10 small candles or so...you want strong candles breaching this 50% measure.

5) Once this 50% has been breached by say 5 pips or so then enter the trade.

I know that there is more to it than that but this is sort of where I am at, at the moment with my reading and understanding of the model.

Say during the Asian session trading is low for that currency pair and the Asian range is only 30 - 40 pips, what do you do then ??

Vegas also mentioned either in one of his posts or doc's something about ranges above 60 pip's but I can't remember what it was now....maybe a re-read is on the cards...lol.

Also the excell file and this median, can someone maybe enlighten me about this median ??
I think that it has something to do with "me" in-putting the historical price data of the open, high and close of the pair you are watching and then the excell file gives you the median....which in my thinking is the middle (median) of your daily average.....i.e this would be your 50% measure (retracement) to save you having to measure or work it out for yourself, so once price has breached this median by 5-10 pips you enter the trade.
Would my thinking of this be correct ?? Or am I miles off ??


Best Wishes

Harmudge

Been doing some more reading and think I may have found the answer to the 60 pip range question and the median question I asked above.

With most pairs with decent volatility if price retraces 60 pips or more there is a very good chance it ain't turning back to make a new high or low of the day or whichever came first.

What I mean by that for an example is :-

Say price opened for the day at 100 it then went down to 70 then went up to 140.
So we have a current low for the day of 70 and a current high of the day at 140 plus we have a range of over 60.
If price then re-traced over 50% of the 140 back down to 70, there is very small chance of price then re-tracing back higher than 140 and making a new high for the day.



Median is merely the high and low of the days range.


Would be great if someone with a bit of experience could look over this question and the one above and confirm if I'm on the right track.


James16, I know you said in your post above I could PM you if I had any questions.
I have refrained from doing this as I didn't want to be a pain in the butt....lol.....but would really value any input you may have to my questions.




P.S

I read the Vegas Wealth Builder 3 thread the other day, what a shame things seemed to go pear shaped. Vegas seemed like such a nice guy in his posts.


P.P.S

I have also got my head around setting up the charts and the risk model question I asked a couple of posts back.


P.P.P.S.....LOL.

Sorry guy's but I am still a bit confused with this Median.

I thought I had it earlier.

I was putting a moving average on a chart and noticed in the moving averages settings that the setting for setting the moving average to the high and low of the candle, bar etc had median in brackets next to it.

So I thought that was what Vegas was refering to as the Median, but I have just been back re-reading the Vegas Wealth Builder 2 doc and on page 8 of the doc where he is explaining the column's in his excell database he says :-

"Column E is the twenty day moving MEDIAN (not average) of the range.This number means that 50% of the last twenty days are above and 50% of the last twenty days are below."

Now if you look at the screen shot I have loaded of the actual doc and look in column E there are like 3 numbers 128, 136 etc etc.
So would it be that 50% of the last twenty days ranges have been above 128 pips (as an example) and 50% of the last twenty days ranges have been below 128 pips etc ??



"You know" I ain't getting to many responses to my questions here, admittedly the thread is very old and probably most of the original posters have gone of to pastures new, but merely by me putting these questions up it is making me think in more detail about this trading model and think more about the questions I am asking about the trading model.
I am going back to the doc's and thinking more about what is said in them and I generally feel the penny is slowly dropping and I am getting it clear in my head.

I would still really appreciate if someone could confirm wether I am on the right path here.

"Is there anybody out there ?"

http://cdn.forexfactory.com/images/icons/icon14.gif

Lol..lol.

It looks like not many of the traders from the past are monitoring or care about this thread any more.

That is too bad.

I never fully looked into the Vegas Tunnels, even though it looked very interesting at the time, and I made a mental note to look into them later. But now it looks like he has dropped off the face of the earth.

I wonder if your best option is to join the James16 Private Forum? I am not a member, but I have several friends that are and say that it is a very good forum/group to belong to.

Good luck.

Hopefully someone either answers your questions or maybe you can be directed somewhere else.

BearPaw

Thanks bear paw.
Incidentaly, I have just signed up with the James 16 group.

LOL...LOL...LOL..LOL..LOL..LOL....

And what would that be all about ??