Vegas Wealth Builder - Part I | Page 18 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Vegas Wealth Builder 1 reply

Vegas Wealth Builder 1 reply

Metatrader + Vegas Wealth strategy 2 replies

Vegas Weath Builder question 1 reply

Question for VEGAS and others using Vegas system..... 2 replies

Attachments: Vegas Wealth Builder - Part I
Exit Attachments

Vegas Wealth Builder - Part I

  • #341
  • Jun 10, 2006 8:39am Jun 10, 2006 8:39am
Quoting twoblink
Perhaps the best quote from all of Vegas's docs is when he says "Humpty Dumpty was an arrogant egg.."

When I read that, it reminded me to always, keep that ego in check..
That was a good one!

BTW- I'm really enjoying your OCC thread! Those of you who haven't should check out the Open/Close Crossover thread!

HeavyJ
HeavyJ -"Posterboy for Spellchecker!" "Will work for pips!"
  • #342
  • Jun 12, 2006 4:21pm Jun 12, 2006 4:21pm
I'm just starting to trade the Vegas Daily Strategy for currencies. I'm embarassed to ask, but WHEN does the "day" end and the next day begin??

I have demo accounts on InterbankFX - which are GMT; and I have live accounts on MIG - which are CET (Central European Time). What time are the daily candles completed so I can check for new trade opportunities?

Thanks so much.

MV
  • #343
  • Jun 12, 2006 5:53pm Jun 12, 2006 5:53pm
I just started reading the VWB and its once again a very very informative piece of work. I just love how Vega recaps his first days as a trader. That was very brave of him to try trading in the pit.

Just wondering about one thing since the early parts of the VWB document stated that this daily method would be for people who can't keep a constant lookout on the market. So did that mean the 1hr and 4 hr are only meant for full-time traders that can afford to stalk the price movement by the minute?
  • #344
  • Jun 12, 2006 9:40pm Jun 12, 2006 9:40pm
Anybody,

This morning i saw someone speaking of making just 10 pips per day but forgot who and where the forum was, they were speaking about a guy named Rob that has mentored this system, can anyone inform me of his name and in which forum this was located. Great thanks.

Howard
  • #345
  • Edited Jun 15, 2006 3:56am Jun 14, 2006 5:43pm | Edited Jun 15, 2006 3:56am
i have a question concerning the vegas strategy, if i want to analyse eur/usd then i have to take 2indicators, right? Once with riskmodule:1 and once with riskmodule:2
Ok, furthermore the vegas document says that i am only allowed when i reached the third fibo level. My question is where can i see that fibo level? When do i reach it, where can i see that?
Here's an example:
http://img111.imageshack.us/img111/8...tled6ix.th.jpg
is the fibo lvl 3 = F+ 3? If it is so, i have to wait very long till i reach 1.2962, havent i?
I am looking forward to a short anwser.
Greets mike
I'm getting there ... slowly
  • #346
  • Jun 14, 2006 6:05pm Jun 14, 2006 6:05pm
Hi Howard

I think the info you are looking for is the one on Rob Booker, this is what he teaches people to do. His website is www.robbooker.com. I do not know anyhting about this stratergy it is to short a time frame for me.

Hope this is the info you were after.

Jon


Quoting HLass
Anybody,

This morning i saw someone speaking of making just 10 pips per day but forgot who and where the forum was, they were speaking about a guy named Rob that has mentored this system, can anyone inform me of his name and in which forum this was located. Great thanks.

Howard
  • #347
  • Jun 14, 2006 6:11pm Jun 14, 2006 6:11pm
Quoting Trinity
Beth, is there a difference between Genesis Navigator and Financial? I've seen Brain Talbot describe how he uses Navigator with VantagePoint software.

Trinity
Sorry to take so long to respond, Trinity. Work has been busy.

Genesis Financial makes a charting software called "Trade Navigator." There are different levels that you can buy (Silver, Gold, Platinum). I've been using Gold for almost 7 years. I get the daily and intraday time-delayed quotes and chart info from Gensis for about $65 per day. This includes futures, stocks and indices (currencies are considered an index).

I'm pretty straightforward in everything I do, including my trading. I like it simple and easy-to-understand because I've got too many technical things that I have to keep up with in my business. Trade Navigator software is simpler to use than others. (I even have my housewife friends using it!)

I'm not saying its the best or most versatile, but I like it. I can easily figure out how to code special indicators, and I'm definitely not a software code writer. I have heavy experience in Excel, which I found helps with the special indicators in Trade Navigator.

By the way, I have used VantagePoint Software with Trade Navigator, too. I found that VantagePoint isn't that much better than other things out there that are less expensive to purchase. I eventually stopped using it because it didn't help me that much.

Hope this helps!http://www.forexfactory.com/forexfor...ons/icon10.gif

Beth
  • #348
  • Jun 14, 2006 6:21pm Jun 14, 2006 6:21pm
Quoting Beth
Sorry to take so long to respond, Trinity. Work has been busy.

Genesis Financial makes a charting software called "Trade Navigator." There are different levels that you can buy (Silver, Gold, Platinum). I've been using Gold for almost 7 years. I get the daily and intraday time-delayed quotes and chart info from Gensis for about $65 per day. This includes futures, stocks and indices (currencies are considered an index).

I'm pretty straightforward in everything I do, including my trading. I like it simple and easy-to-understand because I've got too many technical things that I have to keep up with in my business. Trade Navigator software is simpler to use than others. (I even have my housewife friends using it!)

I'm not saying its the best or most versatile, but I like it. I can easily figure out how to code special indicators, and I'm definitely not a software code writer. I have heavy experience in Excel, which I found helps with the special indicators in Trade Navigator.

By the way, I have used VantagePoint Software with Trade Navigator, too. I found that VantagePoint isn't that much better than other things out there that are less expensive to purchase. I eventually stopped using it because it didn't help me that much.

Hope this helps!http://www.forexfactory.com/forexfor...ons/icon10.gif

Beth

Beth, do you mean $65 per month???
  • #349
  • Jun 14, 2006 6:44pm Jun 14, 2006 6:44pm
Quoting Jon_uk
Hi Howard

I think the info you are looking for is the one on Rob Booker, this is what he teaches people to do. His website is www.robbooker.com. I do not know anyhting about this stratergy it is to short a time frame for me.

Hope this is the info you were after.

Jon
Jon,

I got on this website and looked at the free info. There is a good little ebook on it called "Strategy: 10." Here's the link: www.robbooker.com/Strategy10.pdf. I would really recommend this ebook for beginning traders.

In this ebook, Booker talks about making 10 pips per day his GOAL. This is actually very easy, especially with the info that Vegas gave us in the second part of the Vegas Wealth Builder document. I like Booker's approach because I actually set my daily goals very low also -- 20-30 pips.

I look at it this way. If you're trading a .05% margin in a mini account ($50 controls $10,000), 20-30 pips is $20-30. $20 profit / $50 investment is a 40% return on your investment (remember that I'm a financial person). $30 profit / $50 investment is a 60% return. WHERE ELSE IN THE WORLD CAN YOU GET A CONSISTENT RETURN LIKE THIS????

The most heavily traded currency markets (EUR-USD and GBP-USD) easily move 20-30 pips a day. If you study what Vegas wrote in that second document, you have enough info to figure out how to get this very small amount out of the market, almost on daily basis.

Again, I'm a financial person and I tend to look at how to trade in the simplest way possible. Our goal is not BIG money. Our goal is to have consistent cashflow over a long period of time. If you have consistent cashflow, you really don't need to stockpile money--unless you just want it as a security blanket. (For you beginners, a good book on this concept is "Rich Dad, Poor Dad" by Robert Kiyosaki.)

A consistent 40-60% DAILY (or even WEEKLY) return is a great returnhttp://www.forexfactory.com/forexfor...cons/icon4.gif (Even 10 pips per day, which would be a 20% return is terrific. If you don't think so, look at the S&P500 annual return over the past YEAR.)

Just my thoughts on the subject!

Thanks for passing this information along, Jon.

Beth
  • #350
  • Jun 14, 2006 6:47pm Jun 14, 2006 6:47pm
Quoting baddison
Beth, do you mean $65 per month???
Oops! Big goof!!!http://www.forexfactory.com/forexfor...cons/icon9.gif

Yes, $65 per month. You can get the daily stuff (without the intraday) for $40.

Beth
  • #351
  • Jun 14, 2006 6:49pm Jun 14, 2006 6:49pm
Quoting Beth
Oops! Big goof!!!http://www.forexfactory.com/forexfor...cons/icon9.gif

Yes, $65 per month. You can get the daily stuff (without the intraday) for $40.

Beth
but on the same token, if you lose 20-30 pips, won't you be losing 40-60%?
  • #352
  • Jun 14, 2006 7:15pm Jun 14, 2006 7:15pm
Quoting clam61
but on the same token, if you lose 20-30 pips, won't you be losing 40-60%?
Absolutely. That's why I look at the % return of a trade (winning and losing), not just the dollar amount. That's also why I set up the trade first and don't trade emotionally. If it doesn't look like a good day, I just turn it off and forget about it.

Beth
  • #353
  • Jun 14, 2006 7:34pm Jun 14, 2006 7:34pm
i have a question for all using the VWB

he trades currency futures and emini s&p500 futures

is there a way to get these products on metatrader?
  • #354
  • Jun 14, 2006 7:50pm Jun 14, 2006 7:50pm
Quoting Beth
Absolutely. That's why I look at the % return of a trade (winning and losing), not just the dollar amount. That's also why I set up the trade first and don't trade emotionally. If it doesn't look like a good day, I just turn it off and forget about it.

Beth
i guess its good because you have lots of leverage, but making those pips is not any easier.
  • #355
  • Jun 14, 2006 7:50pm Jun 14, 2006 7:50pm
Quoting clam61
i have a question for all using the VWB

he trades currency futures and emini s&p500 futures

is there a way to get these products on metatrader?
Hi clam,

Check this post:
http://www.forexfactory.com/forexfor...1&postcount=13

Hope that helps.

Regards,
East
  • #356
  • Jun 14, 2006 7:56pm Jun 14, 2006 7:56pm
thanks for the help ... but im not sure this shows CME stuff...does it?

do spot forex quotes correlate to CME currency futures ?

does the s&p 500 correlate to the e-mini s&p 500?

i compared futures charts on prophet.net to the ones in metatraer and i dont think they do exactly....im not sure how it works and why it would be different.
  • #357
  • Jun 14, 2006 8:24pm Jun 14, 2006 8:24pm
Quoting clam61
thanks for the help ... but im not sure this shows CME stuff...does it?

do spot forex quotes correlate to CME currency futures ?

does the s&p 500 correlate to the e-mini s&p 500?

i compared futures charts on prophet.net to the ones in metatraer and i dont think they do exactly....im not sure how it works and why it would be different.
Hehe.. well, I'm in the dark the same with you on this.

As for displaying the futures data, I think you need to have or change to another data provider.

Anyway, hopefully others can provide you with the answers.

Regards,
East
  • #358
  • Jun 14, 2006 9:28pm Jun 14, 2006 9:28pm
Hi Beth

Thanks for all that info.

I have read Rich Dad Poor Dad a few years ago it is what got me started in trading. I do like the concept of Rob Bookers 10 pips a day it is just with my work and other commitments I can't sit infront of a pc all day trading (although I would like to) so I decided I would have to look at larger time frames which I can check in on and trade off them. I also don't really like that because of the larger stops needed. I have also read Strategy 10 and found it really good. I like most of the stuff I have read from Rob Booker and am just looking at buying one of his books.

Thanks again Beth

Jon


Quoting Beth
Jon,

I got on this website and looked at the free info. There is a good little ebook on it called "Strategy: 10." Here's the link: www.robbooker.com/Strategy10.pdf. I would really recommend this ebook for beginning traders.

In this ebook, Booker talks about making 10 pips per day his GOAL. This is actually very easy, especially with the info that Vegas gave us in the second part of the Vegas Wealth Builder document. I like Booker's approach because I actually set my daily goals very low also -- 20-30 pips.

I look at it this way. If you're trading a .05% margin in a mini account ($50 controls $10,000), 20-30 pips is $20-30. $20 profit / $50 investment is a 40% return on your investment (remember that I'm a financial person). $30 profit / $50 investment is a 60% return. WHERE ELSE IN THE WORLD CAN YOU GET A CONSISTENT RETURN LIKE THIS????

The most heavily traded currency markets (EUR-USD and GBP-USD) easily move 20-30 pips a day. If you study what Vegas wrote in that second document, you have enough info to figure out how to get this very small amount out of the market, almost on daily basis.

Again, I'm a financial person and I tend to look at how to trade in the simplest way possible. Our goal is not BIG money. Our goal is to have consistent cashflow over a long period of time. If you have consistent cashflow, you really don't need to stockpile money--unless you just want it as a security blanket. (For you beginners, a good book on this concept is "Rich Dad, Poor Dad" by Robert Kiyosaki.)

A consistent 40-60% DAILY (or even WEEKLY) return is a great returnhttp://www.forexfactory.com/forexfor...cons/icon4.gif (Even 10 pips per day, which would be a 20% return is terrific. If you don't think so, look at the S&P500 annual return over the past YEAR.)

Just my thoughts on the subject!

Thanks for passing this information along, Jon.

Beth
  • #359
  • Jun 15, 2006 1:32am Jun 15, 2006 1:32am
you know kiyosaki highly advises against stocks and trading right?

to him, i say "screw you"!

Quoting Jon_uk
I have read Rich Dad Poor Dad a few years ago it is what got me started in trading
maybe someone can explain to me why this idea is so revolutionary. this is the same idea that people who daytrade the big boards have. throw in $100,000 into microsoft or something, 10 seconds and 10 cents later you have +/- a few hundred dollars.
  • #360
  • Jun 15, 2006 3:57am Jun 15, 2006 3:57am
hmm.. somehow my question was lost, cant anyone help me?:

i have a question concerning the vegas strategy, if i want to analyse eur/usd then i have to take 2indicators, right? Once with riskmodule:1 and once with riskmodule:2
Ok, furthermore the vegas document says that i am only allowed when i reached the third fibo level. My question is where can i see that fibo level? When do i reach it, where can i see that?
Here's an example:
http://img111.imageshack.us/img111/8...tled6ix.th.jpg
is the fibo lvl 3 = F+ 3? If it is so, i have to wait very long till i reach 1.2962, havent i?
I am looking forward to a short anwser.
Greets mike
I'm getting there ... slowly
0 traders viewing now