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vsa with Malcolm

  • #30,261
  • Aug 22, 2017 9:59am Aug 22, 2017 9:59am
Quoting malcolmb14
My take on euro and gbp do do not buy do not sell ... days range is done gbp is below the support line and we may see more move down tomorrow after test 1.2860 euro kind of is odd ... it look like a low volume down day today ... but not all the lowvolume is on the lows of day indicating there is zero but interest

Gbp I am looking forward to seeing what the open range does tomorrow ... break to down side we could see an 80 pip slide down to next support level 2750
Blogging daily now at www.volume.zone
  • #30,262
  • Aug 22, 2017 10:00am Aug 22, 2017 10:00am
Quoting malcolmb14
{quote} Gbp I am looking forward to seeing what the open range does tomorrow ... break to down side we could see an 80 pip slide down to next support level 2750

Coreection 2780
Blogging daily now at www.volume.zone
  • #30,263
  • Aug 22, 2017 10:30am Aug 22, 2017 10:30am
Quoting malcolmb14
My take on euro and gbp do do not buy do not sell ... days range is done gbp is below the support line and we may see more move down tomorrow after test 1.2860 euro kind of is odd ... it look like a low volume down day today ... but not all the lowvolume is on the lows of day indicating there is zero but interest
For me I remain a buyer on EURUSD until my line in the sand is broken and tested successfully by proven sellers. I need to see confirmation that we have broken my line in the sand and that buyers have left the building.

For me at this moment I see today's Daily candle (in it's current uncompleted state) as nothing more than testing for willing sellers back down at that good ol' 1.175 resistance level. I am not seeing sellers interest and as such we also aren't seeing flurry of new buyers since there are no sell orders allowing them to fill.

There is still a lot of time left before today closes so the whole view could change so we will need to wait and see...

Either way I think it shall be the Draghi speech during early trading tomorrow which could provide some fuel to the smoldering EURUSD fire...
Today's zone = Tomorrow's opportunity!
  • #30,264
  • Aug 22, 2017 10:31am Aug 22, 2017 10:31am
Quoting Nelson35a
{quote} Hi Malcolm, Dax went to 12200 as you predicted in an earlier post today. I was also thinking bearish thoughts today as I think I was influenced by the UT formed at LO followed by another pin bar straight after, but was wrong. If price starts to fall from here would you take a short trade if price is still above the OR if you have seen LL/LH and a ND test on at least the M15 or higher? Or is it best to wait for 1) trend change on the 34 SMA, 2) price to go back below OR and then a ND
test? Also do you use/look at the lower TFs like M1/M5...
i trade 30 and 15 with an entry on a 5. When you step back in time frames you can see where the big moves are going to come from

I normally look for a break out of the or and a test

if price goes back into the or after a fake break out I often change bias

use 14 smoothed ma for trend ... it's good on 30 /15
Blogging daily now at www.volume.zone
  • #30,265
  • Aug 22, 2017 10:35am Aug 22, 2017 10:35am
Quoting pres78
{quote} For me I remain a buyer on EURUSD until my line in the sand is broken and tested successfully by proven sellers. I need to see confirmation that we have broken my line in the sand and that buyers have left the building. For me at this moment I see today's Daily candle (in it's current uncompleted state) as nothing more than testing for willing sellers back down at that good ol' 1.175 resistance level. I am not seeing sellers interest and as such we also aren't seeing flurry of

new buyers since there are no sell orders allowing them to...

Pres

interesting thing

look st a 60 min

trigger line at 1.1775

today they ket her slides back under it and thats where we have been for five hours in a 15 pip range

the volumes are LOW meaning there is no buy interest here

I wonder what the intentions of the smart money are

they may have just exited the market and she may drop another 100 pip in " free fall " as a price not supported by buy volume is like a cup sitting on the shelf when you remove the shelf the cup will drop

i am more leaning towards sells than buy and definitely nothing today as I will be sitting in a 15 pip range until I die of boredom lol
Blogging daily now at www.volume.zone
  • #30,266
  • Aug 22, 2017 10:44am Aug 22, 2017 10:44am
Quoting malcolmb14
{quote} Pres interesting thing look st a 60 min trigger line at 1.1775 today they ket her slides back under it and thats where we have been for five hours in a 15 pip range the volumes are LOW meaning there is no buy interest here I wonder what the intentions of the smart money are they may have just exited the market and she may drop another 100 pip in " free fall " as a price not supported by buy volume is like a cup sitting on the shelf when you remove the shelf the cup will drop i am more leaning towards sells than buy and definitely nothing...
Intraday trading for me today on this pair at this moment is non existent.

Right now where we are in PA you are correct... 15 pip range. 1.1765 to 1.750 key levels keeping this pair trapped... Below that is my line in the sand and above it is yesterday's 1hr zone from around 1.179 to 1.182...

Interesting times ahead on this pair and for trading in general... So many worldly factors at play even outside the "scheduled" news...
Today's zone = Tomorrow's opportunity!
  • #30,267
  • Aug 22, 2017 10:51am Aug 22, 2017 10:51am
Quoting malcolmb14
{quote} Tax free close to many countries .. within 6 hours I can be a lot of places i am an engineer .. came here to work and do not actualy trade full time .. but that will change soon . I like a steady income and a 9 to 5 stiff.. and I get to trade lol . I plan to take the plunge within 18 months and and putting to measures in place to make it happen . met my wife here .. home for her is kenya, Dubai is only 5 hours away from her home country . canada my balls freeze .. even in summer lol
Ahh nice, hopefully everything will work out for you. I really tought you are a trader for a living what plans do you have ?
  • #30,268
  • Aug 22, 2017 11:31am Aug 22, 2017 11:31am
Quoting Jesusknows
{quote} Ahh nice, hopefully everything will work out for you. I really tought you are a trader for a living what plans do you have ?

Well ..
as we all dream of I want to be financially free . To roam the world like a lone cowboy .. a man with his laptop and an internet connectio

my first thing would be to go meet all the traders in the forum , trade g in Singapore , others in U.K. And China . Sit side by side trading and having fun .

Then I would probably buy a place either in Mombasa on the beach or Thailand ..that would be my Canadian winter home

rest of the year would be in Canada as kids in school .

I have one dream i hope hope to fulfill one day is set up an NGO in Kenya and teach people how to trade and make a living, provide them with laptop , $500 account and internet .... if they go and sell the laptop then they are dumb lol

i have the skill set in trading .. you have all seen that but needed the inspiration and courage to give up a " steady income " and was glad to have a conversation with Trade G ... he just quit his job in the same field as mine and trades for a living . He is my inspiration to grow a pair and stop being a corporate slave
Blogging daily now at www.volume.zone
  • #30,269
  • Aug 22, 2017 11:38am Aug 22, 2017 11:38am
Quoting malcolmb14
{quote} i trade 30 and 15 with an entry on a 5. When you step back in time frames you can see where the big moves are going to come from I normally look for a break out of the or and a test if price goes back into the or after a fake break out I often change bias use 14 smoothed ma for trend ... it's good on 30 /15
Most helpful as usual. Thanks Malcolm.

Enjoy the rest of your day
  • #30,270
  • Aug 22, 2017 11:42am Aug 22, 2017 11:42am
Quoting malcolmb14
{quote} Well .. as we all dream of I want to be financially free . To roam the world like a lone cowboy .. a man with his laptop and an internet connectio my first thing would be to go meet all the traders in the forum , trade g in Singapore , others in U.K. And China . Sit side by side trading and having fun . Then I would probably buy a place either in Mombasa on the beach or Thailand ..that would be my Canadian winter home rest of the year would be in Canada as kids in school . I have one dream i hope hope to fulfill one day is set up an NGO...
Mighty big and noble plans. I imagine switching to trading to make a living is rough, lot of pressure to succeed and that might cloud vision and mistakes will happen. For me it would atleast
  • #30,271
  • Aug 22, 2017 11:44am Aug 22, 2017 11:44am
Quoting malcolmb14
{quote} Well .. as we all dream of I want to be financially free . To roam the world like a lone cowboy .. a man with his laptop and an internet connectio my first thing would be to go meet all the traders in the forum , trade g in Singapore , others in U.K. And China . Sit side by side trading and having fun . Then I would probably buy a place either in Mombasa on the beach or Thailand ..that would be my Canadian winter home rest of the year would be in Canada as kids in school . I have one dream i hope hope to fulfill one day is set up an NGO...
In fact, you're already very good.My dream is a good life. I don't need to worry about money. lol
  • #30,272
  • Aug 22, 2017 11:57am Aug 22, 2017 11:57am
Quoting malcolmb14
{quote} but needed the inspiration and courage to give up a " steady income " and was glad to have a conversation with Trade G ... he just quit his job in the same field as mine and trades for a living . He is my inspiration to grow a pair and stop being a corporate slave
I hear you there Malc... I have been struggling with this very issue for many years. I struggle with giving up the guaranteed bi-weekly paycheck. No matter how much I believe I could succeed with trading as a living my inner doubting demons keep me from taking the plunge...

For me right now trading isn't even about a source of income, nor even about having some "side money". I make enough at my job to live happily. Not in excess mind you but very happily... My trading now is focused on growing my retirement savings so that I don't have to die at my desk.

Still... the freedom of not working for someone else and being able to work from wherever I want to be calls me in frequently... That dream is a siren that I can't completely ignore.

We will see what life has in store I guess.

Oh and a Happy Birthday! I'll be hitting the big 4-0 in Feb 2018...
Today's zone = Tomorrow's opportunity!
  • #30,273
  • Aug 22, 2017 12:34pm Aug 22, 2017 12:34pm
Quoting pres78
{quote} I hear you there Malc... I have been struggling with this very issue for many years. I struggle with giving up the guaranteed bi-weekly paycheck. No matter how much I believe I could succeed with trading as a living my inner doubting demons keep me from taking the plunge... For me right now trading isn't even about a source of income, nor even about having some "side money". I make enough at my job to live happily. Not in excess mind you but very happily... My trading now is focused on growing my retirement savings so that I don't have to...
Quote
Well ..
as we all dream of I want to be financially free . To roam the world like a lone cowboy .. a man with his laptop and an internet connectio

if pres78 and malcolmb are not making enough money from trading to quit their jobs then i think its impossible for others here... Really guys, what stops you from doing that? you both have a spot on analysis and huge experience ! I have been reading both of your trading journey and your success rate is 99% or close to that (from what you guys predict).

p.s.
happy birthday Malcolmb. wish U happy life and a lot of green pips!
The more you learn the more you earn
  • #30,274
  • Aug 22, 2017 12:44pm Aug 22, 2017 12:44pm
Quoting freemind
{quote} {quote} if pres78 and malcolmb are not making enough money from trading to quit their jobs then i think its impossible for others here... Really guys, what stops you from doing that? you both have a spot on analysis and huge experience ! I have been reading both of your trading journey and your success rate is 99% or close to that (from what you guys predict). p.s. happy birthday Malcolmb. wish U happy life and a lot of green pips!
Freemind,

It's not about not making enough...

It's not about being right more than wrong...

Yes Malc and I both do a good job of keeping ourselves on the right side of the market when we are in trades and staying out when the right side isn't clear to us (even when the right side for each of us, is the opposite of the other ) but again that isn't always enough.

I can't speak for Malc but I know for me it's all about the inherent risk I put my family through by giving up my guaranteed paycheck. It's the fear of the what if's and the unknowns...

What if my system fails me... what if the bottom falls out and I get stuck in a Swiss Bank type trade where my SL doesn't trigger and my account blows. What if the world falls into a World War...

As much as I trust myself and my trading I trust the rest of the world and those trading with and against me, not one little bit.
Today's zone = Tomorrow's opportunity!
  • #30,275
  • Aug 22, 2017 12:49pm Aug 22, 2017 12:49pm
Quoting malcolmb14
{quote} Coreection 2780
I think .2750 is about right. I agree on that.
  • #30,276
  • Aug 22, 2017 1:06pm Aug 22, 2017 1:06pm
Quoting pres78
{quote} Oh and a Happy Birthday! I'll be hitting the big 4-0 in Feb 2018...
Did that last Feb . So you're still a boy Jason, compared to me ... . But I'm still a boy compared to Malcolm though

Do you still trade oil? As I remember you made her your bitch. Is she treating good you these days?
  • #30,277
  • Aug 22, 2017 1:09pm Aug 22, 2017 1:09pm
Quoting 1pipperhour
{quote} Did that last Feb . So you're still a boy Jason, compared to me ... . But I'm still a boy compared to Malcolm though Do you still trade oil? As I remember you made her your bitch. Is she treating good you these days?
Oh yes I do Aldo. I love me the crude trading. Most days she treats me like a king... some days though when I'm off my game she treats me like a joker ...
Today's zone = Tomorrow's opportunity!
  • #30,278
  • Aug 22, 2017 3:04pm Aug 22, 2017 3:04pm
[quote=freemind;10215972]{quote} {quote} if pres78 and malcolmb are not making enough money from trading to quit their jobs then i think its impossible for others here... Really guys, what stops you from doing that? you both have a spot on analysis and huge experience ! I have been reading both of your trading journey and your success rate is 99% or close to that (from what you guys predict). p.s. happy birthday Malcolmb. wish U happy life and a lot of green pips![/quote



You are asking the wrong question

I make well into the six figures .. If I was doing some bs low paying job I would have had nothing to lose I would have stared trading full time a long time ago

also the mind set of people is some love to have that payCheck coming in like clock work month after month whereas others do not mind having the insecurity of where the next meal is coming from.

i am a salary each month type of guy

also if you have kids you think differently . When you are a parent you are less willing to take risks . A job is not secure either but our minds do not ackoowkedge that

to be honest if I gave up work five years back and lived and breathed the market I may be a multi millionaire by now . but my fear of the unknown is what preventing me from going full time

but I have a game plan to give it a try within 18 months .. why 18 months ? Wife is going back to Canada for two years to study and taking the kids and I will be alone in Dubai , so have 18 months to do what I came here to do in first place ... trade the evenings( us session ) and my day off in Friday's I can trade . If I can be consistant over 18 months in all conditions then I will quit my job
Blogging daily now at www.volume.zone
  • #30,279
  • Edited 5:36pm Aug 22, 2017 5:13pm | Edited 5:36pm
There are so many obstacles in Trading that limit apossible life as a Trader:
- limit of money for an Account
- limit of successfull Rules
- limit of experience
- and Trading without Limit-Orders
- lack of multiple strategies (for every Market behaviour;you have to make money in evry Market if you are Trading for Living)
- lack of understanding multiple concepts (like VSA;EW;S/R,Fibs,etc.) plus combining them all together in multiple strategies
- lack of viewing the Market via Charts for a minimum of a few years (I would say 4-8 hours a day until you notice that you have everything seen before if it accuring at a specific time in the Market)
- limit of infos (RN's;MA's;S/R;Fibs;Monthly H/L's;TL's;so many things to put into a descision for every Trade)
- belief to live as a Trader or die (thats the strangest one ;-) )
- most important (for me and I think for other Pro-Traders as well;to be honest I know just 1 Pro (but its the same for him!!):if you have NOT a stronger feeling for freedom than for secure payment checks every month you will NOT make it in this business (because your will is so much stronger when your stomach and your gut telling you that you will do what ever it takes to NOT work for someone else

I myself make every month around 1000 pips(with and without VSA) since a few years but it has taken a long time before I have decided to Trade Live and than take a bigger amount of money and than Trade for Living...
Who say that its NOT possible to make pips/money in August? ;-)
Attached Image (click to enlarge)
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  • #30,280
  • Aug 22, 2017 5:37pm Aug 22, 2017 5:37pm
I am living from the markets 4 years now, It has a been very tough journey, I am from a country where everything is extremely harder. *Venezuela*

Trading and trading for a living is a thing that changes complete the view you have about the market, *at least for me*.

I find the hardest part is thinking about how you really will grow as a trader, and how really you will increase your income every month because is not the same when you say "Ok I just will increase my positions", when you look at your self, and you realize you need something different to have a bigger income at least in FX, so you can be a very good trader but when your life depends on it is a different history, and what I mean about increasing your targets is what I see most difficult, because when you go to reality and you increase your position size you can eat all your profits so fast, *many people will say risk management* but when you increase your position it changes a lot, even though you say not. Also if you don't take the step then you someday will find your self in a hole because you just making money but with limit, and I think is not only the freedom to work in any place but to grow as a trader you need to increase your sizes to really make money in the way you want.

Maybe I do not explain my self in the way I'm thinking right now but keep going.
Know yourself before fight with the market.
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