Shan, Not really a dumb question since I got it wrong. No, you aren't correct for the current time. You are off by 1 hour. N.Y closes at 5:00 P.M. When daylight savings time hits it will be 6 p.m. N.Y..

'Vegas Wealth Builder Part II'

Bjorn, Yes, you have it right. Just remember, though, probability is a funny game. It doesn't mean you can't get 3 or 4 or 5 days in a row where it in fact does violate the open.

'Vegas Wealth Builder Part II'

Everybody, Again, I apologize for getting the times mixed up. If you're just tuning in, the open for futures is 5:00 p.m. Chicago Time. I earlier said it was 3:00 p.m. in some prior posts. In my defense.... well, there is no defense. My staff is now ...

'Vegas Wealth Builder Part II'

shorediver, Yes, that is correct.

'Vegas Wealth Builder Part II'

azmi, It's tough, that's why discipline is needed waiting for the reversal days. Not jumping the gun is tough to do. Everybody, I'm reading your posts, and many of you are placing too much emphasis on the 50% retracement rule. Yes, it's one of the ...

'Vegas Wealth Builder Part II'

WTB, yes, and it will change when we go to daylight savings time.

'Vegas Wealth Builder Part II'

Shan and everybody, Just to show you I'm human, I screwed up. It's 3:00 p.m. PACIFIC TIME [my time] and 5:00 p.m. CHICAGO TIME that the open takes place. Sorry for the confusion. Glad you brought it up Shan

'Vegas Wealth Builder Part II'

wtb, yea, you're petty close. You just have to make sure that you aren't too close to the trees that you can't see the forest. The most important thing is the reversal formation on the daily. Once that has a good probability of happening, then ...

'Vegas Wealth Builder Part II'

Everyone, No,it doesn't. Just because you get an up-day off the fib line doesn't mean it's a reversal day. We need the formation on the daily chart to confirm, and so far cable doesn't look like it wants to go higher. Now, that could change, ...

'Vegas Wealth Builder Part II'

Trinity, Just wait, you have a free trade on the other half. Don't be concerned about little retracements. Let it ride to where it most likely will go.

'Vegas Wealth Builder Part II'

98vrt6spd, You should go back farther than 5 years. From 1997 to 2001, this cross went from approximately 97 to 57. That's about a 40% decline over 4 years. This cross will move [long-term] on 2 factors. 1) interest-rate differentials, and 2) rise ...

trading AUD/JPY as though it were a bond fund

Cici, Recognizing that not everything is cut and dry to a pip, I use 5 pips just to enter a little chaos factor into the equation.

'Vegas Wealth Builder Part II'

rjb1024, There are just some things that are non-computable. This is a good news-bad news sort of thing. The bad news is that if it could be quantified, you wouldn't want to play the game because the top banks and hedge-funds would take all the ...

'Vegas Wealth Builder Part II'

downumderdave40, Most people [like me] who aspire to trade for a living will need something better than just the close for determining entry. We learn a market personality and try and take advantage of that. This gives us better price entry and ...

'Vegas Wealth Builder Part II'

Bemac and rjb1024, Feelings, sixth senses, or nuances eventually lead to ruin. Long-term success can only be achieved through a model with rigid discipline. Eventually, these "touchy-feely" kind of things catch up to you when you go cold. I have ...

'Vegas Wealth Builder Part II'

WTB, It's a good question. The answer is that nobody knows for sure where this stuff is going: nobody. I don't care about dollars when I trade. I only care if I am on the right side of the trade. If I am, then I have a free trade, and have ...

'Vegas Wealth Builder Part II'

[QUOTE=Pipex]First of all .... Vegas .... Thank you for the great models. I missed the usdjpy, but entered the eurjpy .... I'm sitting on my 1/3. Price continues to move up, but I have some profit. image [/QUOTE pipex, yea, I'm sorry we weren't ...

'Vegas Wealth Builder Part II'

Anpar, Everybody in Jpy finally got stopped out at breakeven, though I recommended to subscribers to take 1/3 of position off the table yesterday with profit and let the rest ride. There is an important point though that I want you to consider, and ...

'Vegas Wealth Builder Part II'

CAble Update — Everyone, Short still 7 contracts Cable. Lowering my buy stop to 1.7445 on all 7.

Tunnel Vision. Independent Signals & Positioning Recommendations.

Jotty and everyone, I think my next file will just be pit stories. Lighten things up a little. Maybe 10 or so of the funniest things I've ever seen. Really, the thing I miss most about being on the exchange floor every day is the stuff away from ...

'Vegas Wealth Builder Part II'