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vsa with Malcolm

  • #29,761
  • Aug 9, 2017 10:39am Aug 9, 2017 10:39am
Quoting Trade-G
National day today ahahah so celebration day.... anyway, was looking at the charts at noon, noticed the H1 chart made a very bullish move. Those that hold on yesterday and still holding would have caught the bottom. Tested the support region at now bounced from an inside candle, this is now bullish. Having said that 2 scenario, it can move sideways in the established range henceforth before the breakout upwards or it may just move upwards. Critical support at 1.2970 region Hourly closing must not exceed 1.2976.... Hourly demonstrated a very bullish...
Cable
  • #29,762
  • Aug 9, 2017 10:39am Aug 9, 2017 10:39am
My contribution back to this thread... I am looking at NZD JPY on h1, h4, weekly...

It looks like it can go down a few hundred pips more consistently. I got 40 pips out of it today.

Comments and feedback welcome
  • #29,763
  • Aug 9, 2017 10:39am Aug 9, 2017 10:39am
Quoting freemind
{quote} Thx Mal for all the great posts. Found this thread 2 days ago and already have spent 20+ hours on reading it through. Also downloaded all books about VSA and started to read your recommended books about smart money. (was trading only supply & demand and for the last week discovered VSA and it looks its the right way to go). To my mind, to trade like you is a traders dream, you can read markets even in the mall from iPhone. The only trader that i know that earns money an share the knowledge for free, without asking thousands, GOOD JOB MAN!...
my broker is xm... they are ok .

but I will move over to ib soon as want to spread my wings to trade stocks with options using vsa . Weekly charts provide amazing results on stocks
Blogging daily now at www.volume.zone
  • #29,764
  • Aug 9, 2017 10:41am Aug 9, 2017 10:41am
Quoting pooh123
{quote} Sellers.
No
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  • #29,765
  • Aug 9, 2017 10:42am Aug 9, 2017 10:42am
Quoting gemy
{quote} Actually I believe it's very good spot for buy 10 pips at least profit , what do you think bro!
Lollipop for you

the bars were uh volume down bars but price moving sideways
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  • #29,766
  • Aug 9, 2017 10:53am Aug 9, 2017 10:53am
Gbp 60 ... it's not bull and not bear .

we see supply 1.3020 and demand 1.3980

noce tight range so we wait . There is some gbp news tomorrow and I hope to get more pieces of the story before the news
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  • #29,767
  • Aug 9, 2017 10:55am Aug 9, 2017 10:55am
Quoting Trade-G
{quote} Cable
Happy national day !
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  • #29,768
  • Aug 9, 2017 3:24pm Aug 9, 2017 3:24pm
Quoting malcolmb14
{quote} Happy national day !
Malc your on fire!
  • #29,769
  • Aug 9, 2017 7:45pm Aug 9, 2017 7:45pm
Quoting Swamipips
{quote} Malc your on fire!
Nothingto do with me ..., once you understand vsa , I mean really understand it , making money in this market becomes easier .

my own worst enemy is myself .

Trading at wrong time if day
koving stops
thinking moves will continue
trying to pick tops and bottoms

that's why I brought things like :

trading with the trend
trading only after the open range has formed
not trading an instrument after a normal days range has finished ( like gold yesterday when I saw the testing 1272)
not trading if I did not get enough sleep or my mind is not sharp and focused

sime small rules to stop me from doing the wrong things at the wrong times .

i see some traders , like islander, trading 1 min charts . It's amazing how he does it . I do not have that amount of focus so I look for bulk of a days move. If the vsa set up is very clear I can even risk 5 percent of account to make 25 percent in one day .... I am not kidding and no matter what the size of the account . A good set up is a good set up

of course I only do that with my money . I would not trade someone else's money that way .
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  • #29,770
  • Aug 9, 2017 8:03pm Aug 9, 2017 8:03pm
Quoting malcolmb14
{quote} Trading at wrong time if day koving stops thinking moves will continue trying to pick tops and bottoms.

All my errors there.. :/ I almost always manage lose all my winnings because i stay in the trade way too long expecting it to continue. And for whatever reason i think that i always have to have a trade in somewhere.. Even if its totally random and going by chance

Have gotten a bit more patient now but still a work in progress
  • #29,771
  • Aug 9, 2017 8:09pm Aug 9, 2017 8:09pm
Quoting malcolmb14
{quote} Nothingto do with me ..., once you understand vsa , I mean really understand it , making money in this market becomes easier . my own worst enemy is myself . Trading at wrong time if day koving stops thinking moves will continue trying to pick tops and bottoms that's why I brought things like : trading with the trend trading only after the open range has formed not trading an instrument after a normal days range has finished ( like gold yesterday when I saw the testing 1272) not trading if I did not get enough sleep or my mind is not sharp...
Great advice...

I just made all the mistakes -- trading during opening, enter trade before news (not checking if there is news coming up), trading at wrong time of day....

And I just lost everything I earned from yesterday's tips on this thread

Biggest enemy is myself indeed
  • #29,772
  • Aug 9, 2017 8:20pm Aug 9, 2017 8:20pm
Quoting Jesusknows
{quote} All my errors there.. :/ I almost always manage lose all my winnings because i stay in the trade way too long expecting it to continue. And for whatever reason i think that i always have to have a trade in somewhere.. Even if its totally random and going by chance Have gotten a bit more patient now but still a work in progress
we all suffer From the same things . I still go back to my old habits at times lol

when you are trading remember my words
"patience pays "

we do do not have to be in the markets all the time . We have to be in the markets when they are moving . How do we know when that is ...

news time
us and London overlap

Those are the best times to trade .

With Dax add German stock market open first 2 hours . us stock market open 1st 2 hours.

in theory we do not have to trade for more than three hours a day .

Now for targets :

The chart below is Dax yesterday .
place an atr 14 on a daily chart . That will give you the average true range for the last 14 days
dax broke the open range low and tested it .. so we can assume day is down
Dax high was 12212
dax daily atr is 145 and it's norms throughout the year is 120.
12212-120 =12098 which happens to be support .. coincidence ? Hell no indices / currency has to be kept in range otherwise economies go into chaos and that what the banks do ... they have limits of movement each day.
Once a days range is done we can say reversal to form wick on daily candle and no more trading.


so if you got in Dax at 12190 for test you have 100 points of movement until the days range is complete . It was nice as the open range was narrow yesterday .

i trades this to 12100. I was done trading within 3 hours . My risk was 3 percent on account and I made 15 percent
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  • #29,773
  • Aug 9, 2017 8:30pm Aug 9, 2017 8:30pm
Gold low in Asia was 1261
daiky atr in gold now is 10.65
1261 +10= 1271 high or 1261-10 =1250 low

i happened to be bullish due to vsa set up on 60 the prior day socwas looking for buys

we saw testing of my open range low ( low volume down bar next to cross hair in chart below ) . The trend was up on all time frames so I could take a low risk entry . From 1262 ( above the high of the low volume test ) . We had room to 1271 daily high of $4 . My risk reward was 1:2 so I went with 1 percent risk on account only
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  • #29,774
  • Aug 9, 2017 8:39pm Aug 9, 2017 8:39pm
Euro

asia high 1.1780, tested in London open and open range high

open range low 1.1744
daily ATR 90
so 1.1780 -90=1.1690 low of day

as we saw supply entering market all morning we could see the day would be down.

actual low 1.1689. It's like a magic trick lol
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  • #29,775
  • Aug 9, 2017 8:47pm Aug 9, 2017 8:47pm
Euro today
what does the chart tell us

resistance 1.1760.
two bar reversal on 60 min that formed a very strong hammer bar. (Down bar closing off its lows) .

demand was there

so what am I planning ....
if we get a break out of the open range (high chance due to the demand we saw yesterday). I am looking for a test and a move to .....
1.1750 Asia low +90=1.1840, there is strong resistance at 1.1820 so that's a realistic target.

I think that the actual low price of the day will be 1.1730 before reversal to up side .


as long as I have 40 pip between entry and days range and my stop is 15 pip my r/r ratio is sound
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  • #29,776
  • Aug 9, 2017 8:48pm Aug 9, 2017 8:48pm
Quoting malcolmb14
Euro asia high 1.1780, tested in London open and open range high open range low 1.1744 daily ATR 90 so 1.1780 -90=1.1690 low of day as we saw supply entering market all morning we could see the day would be down. actual low 1.1689. It's like a magic trick lol {image}
Please bear with my newbie questions.

So to summarise, the approach is this?

1) Use the trading range to determine target levels (open high/low in Asia, open high/low in Euro/UK)
2) Look at VSA to identify opportunity
3) Lock in on opportunity that is in line with trend (for newbie like me)
4) Wait for entry (what are the entry signals to look out for? clear break above/below open range on candle close?)
5) TP at target level

Did I understand correctly?
  • #29,777
  • Aug 9, 2017 8:51pm Aug 9, 2017 8:51pm
That's my chart analysis from my iPhone while laying in bed lol...

no fancy gear needed

read
master the markets
trading in the shadow of the smart money

all you need to know is there ( well not all as I have added some few rules but they are in this thread)
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  • #29,778
  • Aug 9, 2017 8:54pm Aug 9, 2017 8:54pm
Quoting ratsalad
{quote} Great advice... I just made all the mistakes -- trading during opening, enter trade before news (not checking if there is news coming up), trading at wrong time of day.... And I just lost everything I earned from yesterday's tips on this thread Biggest enemy is myself indeed
Very easy fix

TRADE ONLY AFTER THE OPEN RANGE IF LONDON HAD FINISHED ...1ST 30 min of London ...

thst rule is for everything , futures and fx
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  • #29,779
  • Aug 9, 2017 8:58pm Aug 9, 2017 8:58pm
Quoting ratsalad
{quote} Great advice... I just made all the mistakes -- trading during opening, enter trade before news (not checking if there is news coming up), trading at wrong time of day.... And I just lost everything I earned from yesterday's tips on this thread Biggest enemy is myself indeed

Do do not get mad ... keep calm
do not revenge tears saying market owes you
do not think you cannot do this ...you can we have all struggled with the same things

go for a walk
go take your wife / girlfriend for lunch
go find a girlfriend if you do not have one lol .. any random girl will do

clear your mind

come back in 4.5 hours and we will rip up the markets .
tradws are always there every day . Just not in Asia lol
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  • #29,780
  • Aug 9, 2017 8:59pm Aug 9, 2017 8:59pm
Quoting malcolmb14
{quote} Do do not get mad ... keep calm do not revenge tears saying market owes you do not think you cannot do this ...you can we have all struggled with the same things go for a walk go take your wife / girlfriend for lunch go find a girlfriend if you do not have one lol .. any random girl will do clear your mind come back in 4.5 hours and we will rip up the markets . tradws are always there every day . Just not in Asia lol
cannot edit these things in iPhone easily

revenge trade not tears
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