Flyn, I'm going to assume that for most of the day you're away from the market, but that you can check near the close [5:00 p.m. Chicago time, 6:00 p.m. daylight savings time] plus or minus an hour or two. Your following VWB, so you know when to ...

'Vegas Wealth Builder Part II'

Everyone, 99% of all forex eventually goes through about 5 banks. Where do you think all these "spot" forex houses clear their trades, do their accounting, and swap your trades for their gain? Do they keep track of everything? Are you kidding? One ...

Warning to Carry Traders (Perfect Hedge)

abedewi, My only concerns about Peter's strategy is twofold. 1) It's a day-trading, scalping strategy, and 2) he concentrates on the euro to the exclusion of everything else. The good points, though, are that he insists on market discipline through ...

Peter Bain's Pivot Strategy

Far from average, I couldn't have said it better myself, thank you. By the way, don't worry about stepping on my toes; I wear steel-tipped shoes :) 5 minute student, I hope his answer clears this up for you. It's all about perspective on the day ...

'Vegas Wealth Builder Part II'

5 minute student, No, that was only with the 1 hour. Those rules do not apply in VWB.

'Vegas Wealth Builder Part II'

dice, If I get in a trade at the 50% retracement level I am going to concentrate on price action around that level. I'm looking for fast, strong momentum moves through it, not 2 pips [above or below] then consolidation for 3 hours. If it backs off, ...

'Vegas Wealth Builder Part II'

5 minute student, Glad you took the time to look back. Those type of crazy days you mention are not anomalies, but rather heavy action days around major tops or bottoms. They also serve a function to kill swing-traders and model fund accounts. Yes, ...

'Vegas Wealth Builder Part II'

cici, My advice is don't aim. What's the point? If some month you only get 8% [almost 100% per annum], are you going to think you are a failure? If you judge yourself based on this criteria, I guarantee you will fail. Seriously, I want you to think ...

'Vegas Wealth Builder Part II'

Jim, From a short-term trading aspect the 1 hour is optimal. You can move out to 4 hour bars [candles] without sacrificing much. The key above is short-term. If you have read my files, you know how I feel about scalping and day-trading. Most people ...

I am confused about all the different Tunnel methods out there...Clarification please

cici, You may be able to get 50%-60% returns per month on a very small account, but as your account grows there is no way this can continue. As I have stated before, when you trade big numbers you enter a whole new ballgame with respect to the ...

'Vegas Wealth Builder Part II'

Michele, Let me start by saying that there is no cookie-cutter one-size-fits-all for stops. It really depends on the market and the entry of the trade. If I enter a trade near perfect, I am very likely to be near the high or the low of the move. In ...

'Vegas Wealth Builder Part II'

cici, I don't look at trading this way so I really don't know the answer. I have never cared about daily, weekly, or monthly returns. Just because you have a month where you make 2% doesn't mean it wasn't a good month; especially if nothing ...

'Vegas Wealth Builder Part II'

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 ...

'Vegas Wealth Builder Part II'

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 ...

'Vegas Wealth Builder Part II'

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 ...

'Vegas Wealth Builder Part II'

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 ...

'Vegas Wealth Builder Part II'

lambrechtj, 2 things 1) How powerful off the bottom, and 2) how fast can the 50% retracement area be taken out. If they both happen fast, you have a full-fledged reversal day on your hands. You can get it with one of the two, but when you have both ...

'Vegas Wealth Builder Part II'

RogueTrader, In fact, the first four days went from about 2.00 to about 1.70, then in the next 5 - 6 weeks it went to 1.40. Here's an interesting fact. Almost all the way down it hugged the 987 fib number. It did this until it bottomed. Oh do I ...

'Vegas Wealth Builder Part II'

bhale, I agree with everything you say except one very important thing. I would NOT carry a loser for 3 weeks or average down. I know this is the way you trade, and I respect that. But let me be the first one [having traded for 26 years] to tell you ...

'Vegas Wealth Builder Part II'

Shan, In the last 24 months, the total number of trades for the 6 curreny pairs and the S&P 500 futures contract [as tracked on C2] was 220. In VWB the total number of currency pairs is 8. I don't trade EUR/USD or USD/CHF because they correlate ...

'Vegas Wealth Builder Part II'