Dave, No, I don't wait for a reversal day that closes. I wait for the market to get to the fibs and then I look for market action that tells me a reversal day has a high probability on that day.

Vegas Wealth Builder - Part I

dpatloll, I will explain. First, the market is trading at the extreme fib numbers. This should put you on alert, because this satifies the first condition of putting on a trade. The second condition is some kind of candlestick or bar-chart reversal ...

Vegas Wealth Builder - Part I

accrete, I hope my response to dialist isn't what prompted your post. If it is, then I apologize for being unclear to everyone, especially you. My point was to share my experience about people who always have to add another indicator to the list ...

Vegas Wealth Builder - Part I

[QUOTE=diallist]I just wanted to interject a thought here. The VWB doesn't have indicators. Vegas is a very good trader. If the VWB needed indicators, wouldn't Vegas have included them? I think the focus should be on watching price action and taking ...

Vegas Wealth Builder - Part I

Rocket, Disable auto-scroll by unclicking up on top. If you're doing research or looking back in time, every time there is a new price the page will go to the present. I have no problem going back in time with the fib lines following. -vegas

Meta Trader .. fixeing fib when scrolling

HeavyJ, Not a bad idea, I'll give it some serious thought next month. Since you brought up risk, one thing that I would stress [and ask you to think about] is the relationship between risk/reward and the price level of the market at any given point ...

Vegas Wealth Builder - Part I

compro99, If I were managing a multi-billion dollar hedge fund or pension plan, I would consider using the same concepts in VWB on a weekly basis. But I hardly think any trader would consider a method where you could be in a trade for 5 years. In ...

How long can I use compounding?

Zazzy, You want the truth? OK, here it is. The single biggest reason people can't make this plan work is that they fail to realize that as you get bigger and bigger, as a trader, your game-plan has to change with your size. You start out trading ...

How long can I use compounding?

loudoniii, I have used intellicharts a long time. But for the life of me, I can't figure out how to write a script that works on their platform. I've contacted FxTrek, and the only thing the support team does is wish me luck. I'm with you on this ...

Vegas Wealth Builder - Part I

Bemac, This is just my humble opinion, and it's only for the VWB. 1) S&P 2) GBP/USD 3) AUD/USD 4) EUR/JPY 5) EUR/GBP Tie for 6 6) USD/CAD 6) USD/CHF 8) USD/JPY 9) EUR/USD

Vegas Wealth Builder - Part I

accrete, You have grasped an important concept from the VWB. It makes logical sense to assume that if the daily chart is at the outer fib levels, then the 1 and/or 4 hour methods are probably there also. They will have different fib levels, of ...

Vegas Wealth Builder - Part I

Merlin, Just when I thought all my relatives had given up on me!

Vegas Wealth Builder - Part I

Dialist, First, a general comment. Of all the currency pairs, I think the EUR/USD is the hardest to trade. I have some theories [maybe I'll get into those later at another time], but my experience tells me that. Having said that, your points are ...

Vegas Wealth Builder - Part I

mmills4x, All currency pairs are valued in the denomination of the back pair. Crosses such as EUR/GBP are valued in GBP. So if you have a 10 pip profit in 100,000 EUR/GBP, and GBP/USD is trading at 1.76, your gain is 10 Pounds, which equals 10*1.76 ...

Pip Value Question

Rocket, see my post directly above yours.

Vegas 1HR and 4HR docs w/ MT4 plug-ins?

dnbae, Almost all very strong trending markets where the currency pair is a one-way street, you have what I call a "theme" market. Of late some "theme" markets are 1)USD/JPY, where for roughly 3 months [Sep 05 - Dec 05] it went from 109 to 121. Here ...

Vegas Wealth Builder - Part I

They are a good brokerage house — I recommend InterActive Brokers [www.interactivebrokers.com] as one of two houses I would trade futures through in 'Vegas Wealth Builder'. They are big, safe, and have the lowest commission round-turn I have ...

Interactive Brokers - experiences and opinions

Pabad, I have the docs on the 1 hour and 4 hour tunnel methods and the plugin for the 1 hour for metatrader 4. If anybody needs them just email me and I will send them to you. I don't have a plugin for the 4 hour. Send request for docs and plugin to ...

Vegas 1HR and 4HR docs w/ MT4 plug-ins?

This is just my way for entry. I think what you're talking about is after entry, after the reversal day is in place and the position is on. I know from experience that if I can leave it on , without the stop being taken out, for more than a couple ...

Vegas Wealth Builder - Part I

Yes, sometimes stops can be more than 20 - 50 pips away. In GBP/USD, on a good reversal day, they may be 100 - 150 pips away. The way I handle these is as follows: 1) When the market gets to the outer fib lines where I am interested, I pay very ...

Vegas Wealth Builder - Part I