Vegas Wealth Builder - Part I | Page 19 | Forex Factory

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Attachments: Vegas Wealth Builder - Part I
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Vegas Wealth Builder - Part I

  • #361
  • Jun 15, 2006 5:30am Jun 15, 2006 5:30am
The chart posted here is on the 1HR timeframe. You need to change the timeframe to Daily for VWB Daily model and 4 HR fo rthe 4 Hr model. The setup is to 1st add Risk model 1 and then overlay the next risk model (2). I don't trade the EURO but perhaps someone who does can post their chart, but I am sure it will make a bit more sense when u change the time frame.
Good Trading to you.
Quoting miketoll
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
In trading, there is no bullshit. You either make money or you don't.
  • #362
  • Jun 15, 2006 5:33am Jun 15, 2006 5:33am
Hi mike,

The fib levels are the red lines you see on your chart. They are projections of the 28 EMA which is the blue line if you are using the plugin from Vegas. Hope this helps.

Quoting miketoll
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
  • #363
  • Edited 6:02am Jun 15, 2006 5:37am | Edited 6:02am
Here is a snap of the cable daily as it appears w/ the cable risk models overlaying each other. I changed the colors of the targets to make it easier to ID them.
Attached Image
In trading, there is no bullshit. You either make money or you don't.
  • #364
  • Edited 6:46am Jun 15, 2006 6:40am | Edited 6:46am
thanks for the answers, but here is another screen with daily chart, and you can see that the bar didnt reach the third fib line in 3 monthes. (neither the lower 3 gib line nor the upper third fib line).
As iam only allowed to go on with trading when the third fib lines are reached, trading possibilities are pretty rare, arent they? Or do i misunderstand something?
Greets mike
http://img98.imageshack.us/img98/725...tled6xx.th.jpg
btw:what is the tunnel, vegas again and again alludes?
I'm getting there ... slowly
  • #365
  • Edited 10:42am Jun 15, 2006 8:37am | Edited 10:42am
Your screen shot is a 4HR chart. I threw this EUR/USD DAILY together real quick. The tunnel is the Green and Blue 24/28 MA's that are in the center. The first line (red) up or down from the Tunnel is the 89 FIB, the 2nd line (purple) is the 144 Fib and the 3rd (Also Red) is the 233FIB.
You'll see that the 233 was pierced on 0605 and reversed (I would have traded this setup, but as mentioned before I don't trade Euro)
Do u have the correct indicators installed, if so verify on what time frame u are using them They daily requires the Vegas Currency Daily - these can be found in the beginner forum under one of the stickies. The Vegas indicators produce unreliable results inthe incorrect timeframe. Good Luck.


Quoting miketoll
thanks for the answers, but here is another screen with daily chart, and you can see that the bar didnt reach the third fib line in 3 monthes. (neither the lower 3 gib line nor the upper third fib line).
As iam only allowed to go on with trading when the third fib lines are reached, trading possibilities are pretty rare, arent they? Or do i misunderstand something?
Greets mike
http://img98.imageshack.us/img98/725...tled6xx.th.jpg
btw:what is the tunnel, vegas again and again alludes?
Attached Image
In trading, there is no bullshit. You either make money or you don't.
  • #366
  • Jun 15, 2006 9:52am Jun 15, 2006 9:52am
At first thanks for your help, i really apprecicate that!
oh, you re right this was a 4h, but here daily chart and nevertheless you have to say, that trading oppurtinities are pretty rare.
In this example my last trading oppurtinty would have been around the march 19th. Or do i still misinterpret something?
Greets mike

http://img162.imageshack.us/img162/1...led0lz1.th.jpg
I'm getting there ... slowly
  • #367
  • Jun 15, 2006 10:41am Jun 15, 2006 10:41am
Your observation looks good. I use Candlesticks adn others use bars so your line chart of closes threw me for a moment. Markets change and in a trending market VWB is probably not the tool u want to be using. But I probably would have traded the 6/5 setup

Quoting miketoll
At first thanks for your help, i really apprecicate that!
oh, you re right this was a 4h, but here daily chart and nevertheless you have to say, that trading oppurtinities are pretty rare.
In this example my last trading oppurtinty would have been around the march 19th. Or do i still misinterpret something?
Greets mike

http://img162.imageshack.us/img162/1...led0lz1.th.jpg
In trading, there is no bullshit. You either make money or you don't.
  • #368
  • Jun 15, 2006 2:13pm Jun 15, 2006 2:13pm
so what do you mean, what brings the vegas wealth strategy, if you can trade a maximum of 1time per week? I think i misinterpret something, do i?
Or are there more trading possibilities if i take the 4h or 1h tunnel method?
I'm getting there ... slowly
  • #369
  • Edited 2:52pm Jun 15, 2006 2:41pm | Edited 2:52pm
here is a thread that Vegas started when he returned from his vacation. It explains better than I can re the need to be flexible when the markets are changing.
ALso, don't be in such a hurry to find good trades. let them come to you. U can add the 1 and 4 hour methods to your tool box, but get to know one very wel first - then add.

http://www.forexfactory.com/forexfor...ead.php?t=5360

Quoting miketoll
so what do you mean, what brings the vegas wealth strategy, if you can trade a maximum of 1time per week? I think i misinterpret something, do i?
Or are there more trading possibilities if i take the 4h or 1h tunnel method?
In trading, there is no bullshit. You either make money or you don't.
  • #370
  • Jun 15, 2006 3:39pm Jun 15, 2006 3:39pm
here's a question that no one seems to be able to answer.

in VWB, vegas supports the idea of trading currency futures vs. spot forex for USD based currency pairs and S&P futures--both of which are available on Globex.

where can one get realtime charts for these futuers with a decent charting application?
  • #371
  • Jun 15, 2006 4:03pm Jun 15, 2006 4:03pm
Quoting clam61
here's a question that no one seems to be able to answer.

in VWB, vegas supports the idea of trading currency futures vs. spot forex for USD based currency pairs and S&P futures--both of which are available on Globex.

where can one get realtime charts for these futuers with a decent charting application?
I assume vegas uses metatrader for charts and places orders in whatever broker he has and brokers charting system doesnt matter at all.
  • #372
  • Jun 15, 2006 4:07pm Jun 15, 2006 4:07pm
Quoting piccolo
I assume vegas uses metatrader for charts and places orders in whatever broker he has and brokers charting system doesnt matter at all.

the problem is, you can't get CME futures quotes on metatrader
  • #373
  • Jun 15, 2006 4:10pm Jun 15, 2006 4:10pm
Quoting clam61
the problem is, you can't get CME futures quotes on metatrader
the market moves the same way
  • #374
  • Jun 15, 2006 4:14pm Jun 15, 2006 4:14pm
Quoting piccolo
the market moves the same way
its similar, but it can be off by decent number of points/pips.
  • #375
  • Jun 20, 2006 1:46am Jun 20, 2006 1:46am
Hi, I just got to know about Vegas' tunnel/VWB.

Would just love to confirm if these are 3 different methods/systems/models, namely:

1) 1 Hour Tunnel Method
2) 4 Hour Tunnel Method
3) Vegas Wealth Builder (1hr/4hr/Daily)

Please correct me if I'm wrong...TIA.
  • #376
  • Jun 20, 2006 1:50am Jun 20, 2006 1:50am
Quoting MChurner
Hi, I just got to know about Vegas' tunnel/VWB.

Would just love to confirm if these are 3 different methods/systems/models, namely:

1) 1 Hour Tunnel Method
2) 4 Hour Tunnel Method
3) Vegas Wealth Builder (1hr/4hr/Daily)

Please correct me if I'm wrong...TIA.
Hi MChurner and welcome to the forum!

You're right. They are different methods/systems/models.

Regards,
East
  • #377
  • Jun 20, 2006 12:42pm Jun 20, 2006 12:42pm
Two questions:

1- Where are the indicators for the 1-hour, 4-hour method?
2- Is there an EA that already implements those methods in MT4 or VT ?

Thanks in advance for the reply.
  • #378
  • Jun 20, 2006 1:00pm Jun 20, 2006 1:00pm
Quoting investor_me
Two questions:

1- Where are the indicators for the 1-hour, 4-hour method?
2- Is there an EA that already implements those methods in MT4 or VT ?

Thanks in advance for the reply.
Here's a link to VT Trader 1 Hour Tunnel Indicator.
DUe to the subjectivety of this method, a Trading System would be pretty difficult to perfect.

http://www.forexfactory.com/forexfor...3&postcount=14
  • #379
  • Jun 21, 2006 12:02pm Jun 21, 2006 12:02pm
Hi,

Im totally a newbie. Ive program the script at MT4 (EURUSD Model #1,#2) and looks like this. Im only suppose to trade when it touches the 2nd last line ([233]) right? Is that the orange lines?

I appreciate the help. Thanks
Attached Image
Change Your Thinking. Change Your Life - JD
  • #380
  • Edited 9:22am Jun 22, 2006 9:15am | Edited 9:22am
hi, i was now reading till page 12 and treid to solve my problem, but somehow i failded..
I just dont undestand these parts of the vwb:

3) After initiating a new position, and stops are in place, we look to take 50%
of position off at/or around the tunnel. In other words, we book half the
position for a profit. Stop on the other 50% of position is raised to an
appropriate profit level or breakeven.
4) The last 50% of position is held until we get opposite signal on the other
side of the tunnel [first part of step 3].

What does vegas mean with the 50%? are 100% the middle of the tunnel up/down to the outest fib line? Has this something to do with the take profit? Is this the take profit?
I hope you can help me.

Another thing is the entry point, which is not very clear to me.
Iam only allowed to enter when the charts hits the corresponding (it must not close above/below, right?) fib line AND a hammer/inverted hammer, shooting star or hanging man is shown. Are these all conditions for entering, or are there other main conditiones?

Iam looking forward to an awnser, very best greetings
mike
I'm getting there ... slowly
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