can some one out there explain to me how these intrevals combinded can be traded???? and where does the the 50% ret. fit in. Overwhelmed!!!!!
vegas
'Vegas Wealth Builder Part II'
can some one out there explain to me how these intrevals combinded can be traded???? and where does the the 50% ret. fit in. Overwhelmed!!!!!
http://www.forexfactory.com/forexfor...3679#post43679
- #684
- Mar 15, 2006 12:08pm Mar 15, 2006 12:08pm
can some one out there explain to me how these intrevals combinded can be traded???? and where does the the 50% ret. fit in. Overwhelmed!!!!!
After reading my post that Mr. Majik listed, are you still confused and/or do you still have a question?
vegas- #686
- Mar 16, 2006 1:38pm Mar 16, 2006 1:38pm
- Joined Sep 2004 | Status: Trader | 1,464 Posts
sxaxlxvxaxtxixoxnxbxyxgxrxaxcxexdxoxtxoxrxgx
- #688
- Mar 16, 2006 2:18pm Mar 16, 2006 2:18pm
- Joined Sep 2004 | Status: Trader | 1,464 Posts
Dialist,
Sure.
Many times in the non-dollar crosses a loss of momentum is a lot more subtle than in the USD pairs. Also weighing in are support and res. The key is can you make a case for it from the extreme fib level. Here, eur/chf is clearly overextended, and you have res. around the 1.5720 level.
If it were a perfect world the crosses would exhibit the same behaviour as the dollar pairs, but they usually don't. Hope this short explanation gives some clue to my thinking.
Let me add one more thing [a quick edit]. The eur/chf pair had a reversal day 4 days ago form around this level. If it weren't for that candle formation, I would not have taken the trade. In a way, it was a confirmation of a short position.
Those of us who are studying to become proficient at the VWB have little hope of gaining the advantage of your years of experience. Realization of this is cause for despair in some traders. What advice and direction would you offer to bolster our confidence that we will ultimately learn to trade this independently of your input? (Don't get me wrong! I don't want you to leave!!
)Dial
sxaxlxvxaxtxixoxnxbxyxgxrxaxcxexdxoxtxoxrxgx
Thank you Vegas. Your VWB rules are pretty straightforward. It is the exceptions to the rules where discretion is used that I think is driving everyone bonkers. I think it is a function of trader psychology that makes traders seek black-white, on-off, up-down, long-short answers that work everytime. I know these do not exist. If they did, then, as it is said, every trader would get rich. In reality though, I think it would mean the markets would quit working.
Those of us who are studying to become proficient at the VWB have little hope of gaining the advantage of your years of experience. Realization of this is cause for despair in some traders. What advice and direction would you offer to bolster our confidence that we will ultimately learn to trade this independently of your input? (Don't get me wrong! I don't want you to leave!!
Dial
Many weeks ago, in response to someone on the forum who asked, I said that if you just did what was in VWB you would make more money than you ever realized before. You could take a look once or twice a day and make a decision and either do nothing or put on a trade. Now, is he/she going to make as much as me? No, not until you get a feel for mometum and speed in each of the pairs. How long might this take? Months possibly years.
The flip side to this is the recent action in gbp and eur/jpy. I ended up passing on a lot of this because the action wasn't what I wanted it to be. More often than not, that kind of action leads to a loss on a position taken. It worked out, but to me it was no big deal because it was only an opportunity cost, and in markets you get opportunity all the time.
So, you get it both ways. But the key here is setup within the extreme fib area. Like I said in my last post, it was the reversal from 4 days ago that gave me the signal. Often times, reversals are not singular points, but sloppy areas where the market often moves erratically. This is most evident in the "fingerprint" of eur/chf from past price history. [The same could also be said of eur/gbp]
My advice to everyone is to not get discouraged with the subtle complexities of VWB. This is the reason for C2 and the trade alerts. It is an extremely cost effective way of learning and profiting in real-time.
VWB and VWB II have been up now for about 6 weeks. Did any of you graduate from college in 6 weeks? Well, this is more like graduate level work, so did any of you get a PHD. in 6 weeks? 6 months? How about it takes about 5 years to get a Doctorate. So, keep everything in perspective. In addition to learning, the markets also have to cooperate. Most of the time they don't.
As I told many of you before, all it takes is 3% - 4% per month and in time a 7 figure trading account is yours. You won't, however, be there by this June. Discipline is the key. How many times have all of you heard me say this? I keep saying it because it is the truth. Markets [banks and hedge funds] do there best to frustrate your account. Don't let them.
Enough of my Knute Rockne halftime speech.
Cheers
vegas
- #694
- Mar 16, 2006 3:20pm Mar 16, 2006 3:20pm
- Joined Sep 2004 | Status: Trader | 1,464 Posts
dial,
Many weeks ago, in response to someone on the forum who asked, I said that if you just did what was in VWB you would make more money than you ever realized before. You could take a look once or twice a day and make a decision and either do nothing or put on a trade. Now, is he/she going to make as much as me? No, not until you get a feel for mometum and speed in each of the pairs. How long might this take? Months possibly years.
The flip side to this is the recent action in gbp and eur/jpy. I ended up passing on a lot of this because the action wasn't what I wanted it to be. More often than not, that kind of action leads to a loss on a position taken. It worked out, but to me it was no big deal because it was only an opportunity cost, and in markets you get opportunity all the time.
So, you get it both ways. But the key here is setup within the extreme fib area. Like I said in my last post, it was the reversal from 4 days ago that gave me the signal. Often times, reversals are not singular points, but sloppy areas where the market often moves erratically. This is most evident in the "fingerprint" of eur/chf from past price history. [The same could also be said of eur/gbp]
My advice to everyone is to not get discouraged with the subtle complexities of VWB. This is the reason for C2 and the trade alerts. It is an extremely cost effective way of learning and profiting in real-time.
VWB and VWB II have been up now for about 6 weeks. Did any of you graduate from college in 6 weeks? Well, this is more like graduate level work, so did any of you get a PHD. in 6 weeks? 6 months? How about it takes about 5 years to get a Doctorate. So, keep everything in perspective. In addition to learning, the markets also have to cooperate. Most of the time they don't.
As I told many of you before, all it takes is 3% - 4% per month and in time a 7 figure trading account is yours. You won't, however, be there by this June. Discipline is the key. How many times have all of you heard me say this? I keep saying it because it is the truth. Markets [banks and hedge funds] do there best to frustrate your account. Don't let them.
Enough of my Knute Rockne halftime speech.
Cheers
Seriously Vegas, I already knew that was the answer, and I asked because my subscribers have been hitting me with questions via email and PM ever since your signal came out this morning. I knew the answer, but I also knew I could not express it as eloquently as you just did. So I took the easy way out and asked you! As usual, your answer reeks of wisdom and generally kicks butt!
Thanks Vegas
sxaxlxvxaxtxixoxnxbxyxgxrxaxcxexdxoxtxoxrxgx
I learned alot on todays trade that is underway thanks for the recap Vegas. This is really good learning this way.
Todays trade reminds me of this.
Enjoy and try to make your buy/Sell just before Old Faithfull is ready to fall/blast off, http://www.nps.gov/yell/oldfaithfulcam.htm
Good way to build discipline
John
Todays trade reminds me of this.
Enjoy and try to make your buy/Sell just before Old Faithfull is ready to fall/blast off, http://www.nps.gov/yell/oldfaithfulcam.htm
Good way to build discipline
John
Hey vinn,
You mean for the new pairs? I think that's covered here:
http://www.forexfactory.com/forexfor...&postcount=685
You mean for the new pairs? I think that's covered here:
http://www.forexfactory.com/forexfor...&postcount=685
Vegas wat about the dailies wat models do we use ,and which fib line do we wait for break of ??? a million thanks as always!!!!