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'Vegas Wealth Builder Part II'

  • #521
  • Edited 7:46pm Feb 21, 2006 6:45pm | Edited 7:46pm
Quoting Fryes
Mr. Vegas, sir,

I just read the post, quoted below, where you are generously allowing the private forum here at forex factory to send out your signals.

When I read what is below, I was left speechless by your magnanimity, when I realized how much lost revenue it meant for you! I wasn't sure about the private forum thing until now, but your endorsement makes choosing the private forum seem like a no brainer.

Many thanks to you Vegas, from a growing trader, who is totally inspired by your giving!

Fryes
i have been way to busy to follow the VWB but i plan to get started soon. i would like to say something. 22 years ago i started down this road with a newspaper, a piece of graph paper, a pencil and a ruler. you new folks think about that for a moment. not much help in those days. it would be impossible for me to put into words the advantage all of you have at Forex Factory. old traders manage to become old traders for many reasons i suppose but one thing is for sure. life is about giving and sooner or later it dawns on some that good things happen when we make a concerted effort at sending out good things. after 22 years walking this road i can count on one hand the number of people i have run accross like vegas. when i think of those early years and then think what it would be like starting out now i just shake my head. its night and day.
  • #522
  • Feb 21, 2006 7:27pm Feb 21, 2006 7:27pm
I know this forum primarily deals with forex trades but I noticed that the VWB document referenced a set up for the S&P mini, too. I have Metatrader and eSignal. Can anyone tell me how to get the S&P data feed into Metatrader to experiement with the VWB strategies as it pertains to the S&P Mini.

Thanks
  • #523
  • Feb 21, 2006 7:42pm Feb 21, 2006 7:42pm
Nevermind my previous post.... I just found and downloaded the VWB II document and see that there is information pertinent to my question there. Thanks anyway...
  • #524
  • Feb 22, 2006 2:53am Feb 22, 2006 2:53am
Vegas or anyone,

Looking at other charts, I noticed one with very clean entry/exit signals requiring min. stop values.

EURGBP 1hr chart SMA 144 TUNNEL using fibs level 1.

The open position times are much longer but results seems more precise with less volativity.
  • #525
  • Feb 22, 2006 7:40am Feb 22, 2006 7:40am
Gentlemen looks like we may have another shot at the GBP if it falls enough again!
  • #526
  • Feb 22, 2006 8:23am Feb 22, 2006 8:23am
How come no one look at USDJPY ?? There could be a pending short trade coming on...
The future depends on what we do in the present.
  • #527
  • Feb 22, 2006 9:02am Feb 22, 2006 9:02am
Quoting compro99
How come no one look at USDJPY ?? There could be a pending short trade coming on...
yes. Down From 119.95
  • #528
  • Feb 22, 2006 9:28am Feb 22, 2006 9:28am
Quoting Oligarh
yes. Down From 119.95
you mean from 118.95?? I don't see 119.95 recently..
  • #529
  • Feb 22, 2006 12:17pm Feb 22, 2006 12:17pm
dberti,

You can download the Strategybuilder MT4 for the S&P and Gold here:


http://www.strategybuilderfx.com/platform.php/

Cheers
  • #530
  • Feb 22, 2006 12:29pm Feb 22, 2006 12:29pm
Everyone,

I am going to construct a hypothetical to make a point.

Let's say you open a trading account with $10,000. Let's also assume you pay no taxes on your profits [ever here of offshore trading]. If you make 40% per year, how much do you have after 20 years? How about 30 years? Think about this for a second before I give the answer, because it will surprise many of you. Also think about what it takes to make 40% per year. Just a little over 3% per month. Certainly within reason trading the proper method.

Now here is the answer.

After 20 years, $8,366,820
After 30 years, $242,014,230

All of you who wonder how to get a large account only need stare at the numbers above. It come from a method with discipline, more discipline, and finally some more discipline.

How about 50% per year over 30 years?
$1,917,510,000

Now, I'm not quite at this level yet but I'm working on it.
vegas
  • #531
  • Feb 22, 2006 12:44pm Feb 22, 2006 12:44pm
compro99,

I am watching USDJPY also. I haven't seen a reversal day, but today could be it. Not sure how to read it. If it closed right now, you would have an inside day and almost a spinning top. Not strong momentum to the downside, but some. 50% retracement from yesterday, but I don't think that counts. I had sell stops at 118.20, which is just below yesterdays low, but I cancelled them. It might be better to sell after today's close and put stop in at 119.00. Smaller loss if stop hit than getting in at 118.20 and setting my stop at todays high of 118.92. Just watching right now. Price is at 118.63.

How would you play this one?
  • #532
  • Feb 22, 2006 12:47pm Feb 22, 2006 12:47pm
Quoting vegas
Now, I'm not quite at this level yet but I'm working on it.
LOL
  • #533
  • Feb 22, 2006 12:54pm Feb 22, 2006 12:54pm
The 30 and 47 pip probabilities are for the GBP so we can't apply that to the USDJPY... anyone have the USDJPY probabilities?

Vegas would you consider the drop a few hours ago fast enough or no?
  • #534
  • Feb 22, 2006 1:06pm Feb 22, 2006 1:06pm
Quoting xspowerx
The 30 and 47 pip probabilities are for the GBP so we can't apply that to the USDJPY... anyone have the USDJPY probabilities?

Vegas would you consider the drop a few hours ago fast enough or no?
xspowerx,
I'm assuming you mean for USD/JPY.

First, usd/jpy right now isn't even at the first fib line. Reversal candles that are not at extremes are unreliable. I don't even look at jpy until the 2nd fib [233] line and even here I play it very close to the vest. Only when you get near the 3rd fib [377] line are the trades very reliable.

USD/JPY along with the Euro are the worst trading pairs I follow [IMHO]. They are choppy, put in many reversal days that are meaningless, and often have ranges that are very small.
vegas
  • #535
  • Feb 22, 2006 1:10pm Feb 22, 2006 1:10pm
Quoting bhale
compro99,

I am watching USDJPY also. I haven't seen a reversal day, but today could be it. Not sure how to read it. If it closed right now, you would have an inside day and almost a spinning top. Not strong momentum to the downside, but some. 50% retracement from yesterday, but I don't think that counts. I had sell stops at 118.20, which is just below yesterdays low, but I cancelled them. It might be better to sell after today's close and put stop in at 119.00. Smaller loss if stop hit than getting in at 118.20 and setting my stop at todays high of 118.92. Just watching right now. Price is at 118.63.

How would you play this one?
I would wait till dust settles after today's JPN trade balance and Industry index (18:50 EST)
  • #536
  • Feb 22, 2006 1:16pm Feb 22, 2006 1:16pm
Quoting vegas
Everyone,

I am going to construct a hypothetical to make a point.

Let's say you open a trading account with $10,000. Let's also assume you pay no taxes on your profits [ever here of offshore trading]. If you make 40% per year, how much do you have after 20 years? How about 30 years? Think about this for a second before I give the answer, because it will surprise many of you. Also think about what it takes to make 40% per year. Just a little over 3% per month. Certainly within reason trading the proper method.

Now here is the answer.

After 20 years, $8,366,820
After 30 years, $242,014,230

All of you who wonder how to get a large account only need stare at the numbers above. It come from a method with discipline, more discipline, and finally some more discipline.

How about 50% per year over 30 years?
$1,917,510,000

Now, I'm not quite at this level yet but I'm working on it.
Hi Vegas,

I was just curious as to what your risk per trade was?

Thanks,

Scooter
Still haven't found what I'm looking for...
  • #537
  • Feb 22, 2006 1:23pm Feb 22, 2006 1:23pm
Good idea raczekfx.

Vegas, I don't understand. Your first wealth builder doc states

USD/JPY - The second fib level [144] and higher.

Yesterday USDJPY high at 118.98, and 144 + 28 EMA = 118.85

I understand that 3rd fib level of 233 would produce more reliable signals. And this may be a case of your preference to not trade USDJPY, don't know.

Thanks for all the help here.
  • #538
  • Feb 22, 2006 1:31pm Feb 22, 2006 1:31pm
Quoting Scooter
Hi Vegas,

I was just curious as to what your risk per trade was?

Thanks,

Scooter
Scooter,
This is a question I can't answer. It depends on the currency pair and where my entry price is. In some pairs I average in, so it would depend on the average price.

In any event you can rest assured that if it is a loser it will not be very much.
vegas
  • #539
  • Feb 22, 2006 1:39pm Feb 22, 2006 1:39pm
Quoting bhale
Good idea raczekfx.

Vegas, I don't understand. Your first wealth builder doc states

USD/JPY - The second fib level [144] and higher.

Yesterday USDJPY high at 118.98, and 144 + 28 EMA = 118.85

I understand that 3rd fib level of 233 would produce more reliable signals. And this may be a case of your preference to not trade USDJPY, don't know.

Thanks for all the help here.
bhale,

Yes, in VWB I recommend that for those who trade YEN I would use Model #1, which has the 2nd fib line at 144.

For me, though, I don't trade YEN very often and therefore I use model #2. I just believe there are better markets to trade, like GBP and EUR/JPY. If you use model #2 you are only going to get a few trades per year. Granted, they will be good ones, but for somebody who trades JPY as their main pair, I don't think they will want to sit for most of the year on the sidelines.

Using model #1, you do have a reversal day going, although so far today the daily candle isn't that impressive. If you did sell usd/jpy then obviously your stop is somewhere just north of your entry or 119.

Hope this clears up the confusion.
vegas
  • #540
  • Feb 22, 2006 2:37pm Feb 22, 2006 2:37pm
Quoting vegas
Everyone,

I am going to construct a hypothetical to make a point.

Let's say you open a trading account with $10,000. Let's also assume you pay no taxes on your profits [ever here of offshore trading]. If you make 40% per year, how much do you have after 20 years? How about 30 years? Think about this for a second before I give the answer, because it will surprise many of you. Also think about what it takes to make 40% per year. Just a little over 3% per month. Certainly within reason trading the proper method.

Now here is the answer.

After 20 years, $8,366,820
After 30 years, $242,014,230

All of you who wonder how to get a large account only need stare at the numbers above. It come from a method with discipline, more discipline, and finally some more discipline.

How about 50% per year over 30 years?
$1,917,510,000

Now, I'm not quite at this level yet but I'm working on it.
Thanks Vegas. Compounding is something I've got a good handle on. You mention 40% per year.

In your opinion, what is a reasonable maximum MONTHLY return achieveable for the V1, the V4 and the VWB? I am particularly interested in what is the maximum monthly rate of return I could expect to see if I was trading the V4 with total discipline and position sizes that were not extreme in terms of leverage. I personally know of two people trading systems other than yours who are consistently bringing in monthly returns of 20% and 45% respectively. Is this possible with the V4? How about the V1 or VWB?

Thanks you kind sir!

cici
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