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vsa with Malcolm

  • #30,281
  • Edited 6:41pm Aug 22, 2017 6:15pm | Edited 6:41pm
It's a very interesting discussion that we're having here, like some other people here one of my dreams is also trading for a living.. today I took a step further and decided to have a conversation with my boss asking if it was possible to work fewer hours a day (in exchange for a reduction in salary), if he agrees ill work only after london close so ill have enough time to trade to see if I can make money that way

I found that half-time trading and keeping a monthly salary was the best way to start the process until I can definitly leave my job and start trading full time. Ofc I think things are a bit easier for me since I dont have kids yet and I dont have also many bills to pay each month heh

sometimes life is a box of surprises.. 8 months ago I was starting my journey on forex making my first trade, now I want to drop the college and graduate school that I did to starting trading full time lol, cant imagine myself working at office anymore... thank you so much Malcomb and others that have been posting here, the truth is that this topic helped me not only at my trading skills but it's also changing the path of my life (for the better!!)
  • #30,282
  • Edited 7:10pm Aug 22, 2017 6:57pm | Edited 7:10pm
Hi,

I get bored from trading .... looking for the same pattern everyday .... therefore sometimes i come back here on FF to keep in touch with community :-)))).

For today ... my previous analysis still intact ... so bullish ...

well I just look here on FF :
https://www.forexfactory.com/news.php?do=news&id=693377

So I could be wrong ...

Happy trading ....
  • #30,283
  • Aug 22, 2017 8:36pm Aug 22, 2017 8:36pm
Quoting Autrader
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...

Do do you still live in Venezuela ?

I hope so so as I will add your place to my list on my world tour when I go full time lol
Blogging daily now at www.volume.zone
  • #30,284
  • Aug 22, 2017 8:41pm Aug 22, 2017 8:41pm
Back to charts

gold we have an upthrust behind us on the daily

we have sellers at 1290 yesterday pushing her down to 1282,5 where there are buyers right now .

If we get a break doen if 1281 we will see the next support level 1270 as gold moves $12 a day .so I will be looking for a break down if the open range , move below the current buy line if 1283.5 a test and then mode into 1270 support
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  • #30,285
  • Aug 22, 2017 8:46pm Aug 22, 2017 8:46pm
Quoting odines
It's a very interesting discussion that we're having here, like some other people here one of my dreams is also trading for a living.. today I took a step further and decided to have a conversation with my boss asking if it was possible to work fewer hours a day (in exchange for a reduction in salary), if he agrees ill work only after london close so ill have enough time to trade to see if I can make money that way I found that half-time trading and keeping a monthly salary was the best way tostart the process until I can definitly leave my job...
i wish you luck in your journey !
Blogging daily now at www.volume.zone
  • #30,286
  • Aug 22, 2017 8:50pm Aug 22, 2017 8:50pm
Gbp

we are in a minor support ... now if a break down of the open range materializes today and we can easily see a move down into 1.2650

we gave seen some distribution which played out yesdsy ,
If we get a break down of the open range low and then an entry on a no demand or upthrust

1.2800 is the trigger lines
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  • #30,287
  • Aug 22, 2017 8:54pm Aug 22, 2017 8:54pm
Dax

dax is pretty much all over the place and we have to play her day by day ...

i do not have a trading pkan for dax today

we closed on the highs yesterday , which is only 50 points away from the key resistance level 12300.

i am keep a very open mind as Dax can do anything at this point . I will be using the trend ....if we see a 50 point open range form with top 12300 and we get a break out and test of the open range then we have a true break out and 12400 is our target ( atr dax is 140 points a day )

she can also completely reverse yesterday's up move ...that's dax

so i I will use open range and trend and let the markets tell me which way to trade
Blogging daily now at www.volume.zone
  • #30,288
  • Aug 22, 2017 9:00pm Aug 22, 2017 9:00pm
Euro

euro is on key support 1.1750

we have some strong euro news today

I cannot get a read on her from the charts

but with the no demand on the daily behind us I am sell bias

I will be looking for a break down of the open range low with move to 1.1650

of course the news news will show us the way and I may not trade her till after the news
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  • #30,289
  • Aug 23, 2017 12:26am Aug 23, 2017 12:26am
Quoting malcolmb14
{quote} Do do you still live in Venezuela ? I hope so so as I will add your place to my list on my world tour when I go full time lol
Nope, I am living in Australia now, almost year and a half.
Know yourself before fight with the market.
  • #30,290
  • Aug 23, 2017 12:33am Aug 23, 2017 12:33am
Quoting dogol
Hi, I get bored from trading .... looking for the same pattern everyday .... therefore sometimes i come back here on FF to keep in touch with community :-)))). For today ... my previous analysis still intact ... so bullish ... well I just look here on FF : https://www.forexfactory.com/news.php?do=news&id=693377 So I could be wrong ... Happy trading ....
dogol

In my experience when I listen to news , or read market watch , or read the newspaper or think about fundamentals ... I become crazy biased . There fore to keep my mind " clear " of all of the above I do not even read a newspaper .

i catch up with the news highlights on the radio but nothing else ...


i believe it makes me a better trader
Blogging daily now at www.volume.zone
  • #30,291
  • Edited 3:05am Aug 23, 2017 2:52am | Edited 3:05am
Malcolmb, yes you are right I agree with you. Actually I don't care about the news I prefer use the background analysis.

I stick to my analysis as I believe the activity of big boys can not be hidden.

Right now the movement of Eur/USD is in the same direction as my analysis... Let's see if my target will be hit..

As I said before I develop a simplified VSA with additional parameter... I don't trade bar by bar but more using background volume and the right timing and limited risk for my entry... it's powerful... maybe if I have time I can explain further about it..
  • #30,292
  • Aug 23, 2017 2:55am Aug 23, 2017 2:55am
All bulls on board ?

Just be careful
Classic trap move in the making
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  • #30,293
  • Aug 23, 2017 2:57am Aug 23, 2017 2:57am
Quoting malcolmb14
All bulls on board ? Just be careful Classic trap move in the making {image}
Could spring but could not as well
Blogging daily now at www.volume.zone
  • #30,294
  • Aug 23, 2017 2:59am Aug 23, 2017 2:59am
Quoting dogol
Malcolmb, yes you are right I agree with you. Actually I don't care about the news I prefer use the background analysis. I stick to my analysis as I believe the activity of big boys can not be hidden. Right now the movement of Eur/USD is in the same direction as my analysis... Let's see if my target will be hit..

Mm
the buy was seem seen on the test on 15 today

I could not buy as my trending system is not in alignment
Blogging daily now at www.volume.zone
  • #30,295
  • Aug 23, 2017 3:04am Aug 23, 2017 3:04am
Quoting malcolmb14
All bulls on board ? Just be careful Classic trap move in the making {image}
Sell stop in place

99 .999 percent sure it's a big old bull trap
Blogging daily now at www.volume.zone
  • #30,296
  • Aug 23, 2017 3:22am Aug 23, 2017 3:22am
Quoting malcolmb14
{quote} Sell stop in place 99 .999 percent sure it's a big old bull trap
Is there not some speech toDay ?

I thibk i got time screwed up lol

leaving euro for now but it's actually buy dips
Blogging daily now at www.volume.zone
  • #30,297
  • Aug 23, 2017 3:24am Aug 23, 2017 3:24am
Malcolmb, I don't think it's a bull trap, because I don't see any significant selling volume to support this "bull trap"...

if anyone don't have positions right now I would suggest to wait new York time to entry position, normally it will give a opportunity to make new entry...

Just my opinion... I could be wrong.. Happy trading
  • #30,298
  • Aug 23, 2017 3:31am Aug 23, 2017 3:31am
Quoting malcolmb14
{quote} Is there not some speech toDay ? I thibk i got time screwed up lol leaving euro for now but it's actually buy dips
euro spikes on news on uh volume and stops dead

will look for sells in us session , trigger 1.1700 , stops 15 pip , target 50
Blogging daily now at www.volume.zone
  • #30,299
  • Aug 23, 2017 4:31am Aug 23, 2017 4:31am
Quoting dogol
Malcolmb, I don't think it's a bull trap, because I don't see any significant selling volume to support this "bull trap"... if anyone don't have positions right now I would suggest to wait new York time to entry position, normally it will give a opportunity to make new entry... Just my opinion... I could be wrong.. Happy trading

Ultra wide spread uh volume up bar knocked market sideways

that's not buyers

I could also be wrong but probably not lol
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  • #30,300
  • Aug 23, 2017 4:33am Aug 23, 2017 4:33am
Quoting malcolmb14
{quote} Ultra wide spread uh volume up bar knocked market sideways that's not buyers I could also be wrong but probably not lol {image}
Agree we wait until us session

I am not selling now until my trend has changed if I sell at all as I dislike trading euro these days
Blogging daily now at www.volume.zone
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