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vsa with Malcolm

  • #33,501
  • Oct 1, 2020 2:22am Oct 1, 2020 2:22am
Quoting freemind
{quote} p.s. speaking about EJ, after such down wave we usually need to see more SOW to sell it (for long term), the biggest down wave in 7 days is just a sign of possible COB, we can have choppy conditions for a while and then move up. in these cases, i prefer to see EvR or lack of supply or demand to continue buying it. yesterday weiss wave gave good EvR 2 times on the lows, the reaction to that was good too.
I understand now, I thought you meant the weakness that came in yesterday was the end of the up move. Which I was completely wrong on, I was convinced that EJ was going to be pushed straight up based on how aggressive EJ was marked up on Tuesday and based on the commodity pairs last week that we were seeing very fast paced moves.

Quoting freemind
{quote} p.s.s. is there some reason why you dont trade indices? to my mind, they move better than FX crosses. I used to trade currencies alone, but now the only one i trade is gbp. prefer dax, dow and nasdaq. and with your balls to keep the position open for several days you could get very good swings.
I haven't actively thought about trading indices before. Something that has been on my mind, is if Im going to get a message from my broker on reducing my leverage down to 20:1 or lower. Now that you mention futures, they may be a good path to take, I was thinking that eventually I would have to open multiple accounts across different forex brokers to keep my 50:1 leverage.

And I wouldn't call it balls, I take partial profits and move stops to limit my risk.

Quoting freemind
{quote} makes sense, thats why I also have many hobbies to clear the mind. not always more screen time leads to more profits. yeah, big respect for you that you are so aggressive and i like that you keep them open for longer periods. i personally dont understand the 1% risk in the trade, only if you are learning. if you know your stuff i think it should be 5-10% per trade or in some cases even more. I see that you stack your positions a lot, is there some reasoning/technique how you do it?
For adding positions I like to see SOW (for long trades) being pushed through, go down to a M5 or M15 and I see multiple price levels where SOW have been pushed through and I get pretty confident to the point where all I'm doing is just maxing out my margin. It took me a while, but I got to where I started using gotcha bars as areas to heavily add positions.
  • #33,502
  • Oct 1, 2020 2:51am Oct 1, 2020 2:51am
Quoting Anotan
{quote} I haven't actively thought about trading indices before. Something that has been on my mind, is if Im going to get a message from my broker on reducing my leverage down to 20:1 or lower. Now that you mention futures, they may be a good path to take, I was thinking that eventually I would have to open multiple accounts across different forex brokers to keep my 50:1 leverage.
There are several good brokers with 1:500 leverage. One option is an ASIC license in Australia and another one is you can still have FCA broker and get 1:500 leverage by applying that you are a professional. there will be a questionnaire and they will ask for proof, but i can tell you all the important details. a setback for professional is that there is no insurance for negative balance, but i doubt that will be your case. I personally have Admiral Markets, because they have several licenses and you can choose which one to take, and also they have MT4&5 supreme edition which is a great tool in trading. Vol is good too, but i still prefer futures vol.

Quote
For adding positions I like to see SOW (for long trades) being pushed through, go down to a M5 or M15 and I see multiple price levels where SOW have been pushed through and I get pretty confident to the point where all I'm doing is just maxing out my margin. It took me a while, but I got to where I started using gotcha bars as areas to heavily add positions.
maxing out margin, fuck yeah, i like that!

p.s.
have you looked at your stats?

p.s.s.
when shit hit the fan you lose around 50% of the account balance or you are fast to react?
The more you learn the more you earn
  • #33,503
  • Oct 1, 2020 3:49am Oct 1, 2020 3:49am
Quoting freemind
{quote} There are several good brokers with 1:500 leverage. One option is an ASIC license in Australia and another one is you can still have FCA broker and get 1:500 leverage by applying that you are a professional. there will be a questionnaire and they will ask for proof, but i can tell you all the important details. a setback for professional is that there is no insurance for negative balance, but i doubt that will be your case. I personally have Admiral Markets, because they have several licenses and you can choose which one to take, and also...
I did for a while pay attention to stats, they didn't really help me be a better trader so now not really.

My biggest loss YTD was just over 25%, but for the most part I do rely a lot on trade management. My losses tend to be around 8-15%

I know that my charts look crazy at times with orders all over it, but I try keep large orders around the same price level. By doing this it makes it easier to protect them with stop losses and basically as price goes in the direction of the trade to add much smaller trades. These smaller traders are really just fodder to pad the account, but also they do give me an indication to tighten the stop losses of my big trades based on if price starts going against them.

Also one of the things I do is if I have a large cluster of small trades get their stop losses hit, then I may close 1 or 2 of the bigger trades to offset the losses and at the same time get those big trades to BE.

Also in the past I've lost confidence in trades, when that happens I sort trades by size and start closing the biggest trades down quickly.
  • #33,504
  • Oct 1, 2020 5:51am Oct 1, 2020 5:51am
Quoting freemind
{quote} read David Weiss book- trades about to happen, thats my favorite trading book (chapter 10 is about waves). have read 10+ on wyckoff, VSA, volume and this is by far the best one.
I am reading it, I really like it, I have a lot of wonderful and interesting knowledge. It helps my mind more light.
Thank you very much for your suggestion!

Best regards
Sanji
  • #33,505
  • Oct 2, 2020 12:05am Oct 2, 2020 12:05am
Failed test into a trigger number and a gotcha bar.
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  • #33,506
  • Oct 2, 2020 12:15am Oct 2, 2020 12:15am
Bit of volume coming in and fast move down.. Took some some partials on some of the trades taken at lower levels, and BE on a few of the trades taken higher.
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  • #33,507
  • Oct 2, 2020 12:23am Oct 2, 2020 12:23am
Quoting Anotan
Bit of volume coming in and fast move down.. Took some some partials on some of the trades taken at lower levels, and BE on a few of the trades taken higher. {image}
Closed it down completely at 123.41, a lot of volume coming in.
  • #33,508
  • Oct 2, 2020 12:32am Oct 2, 2020 12:32am
It might keep pushing lower, but thats too much volume at this hour for me to keep holding shorts.
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  • #33,509
  • Oct 2, 2020 12:32am Oct 2, 2020 12:32am
Quoting Anotan
{quote} Closed it down completely at 123.41, a lot of volume coming in.
i was short NJ off of that hourly ND, banked 3R. done, and gold had a nice run up, 1hr fib, 5m double bottom, fake break, strenght. the works
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  • #33,510
  • Oct 2, 2020 12:48am Oct 2, 2020 12:48am
Quoting 1odi
{quote} i was short NJ off of that hourly ND, banked 3R. done, and gold had a nice run up, 1hr fib, 5m double bottom, fake break, strenght. the works {image} {image}
Great trade on gold, the pros couldn't be any more obvious on that 6:55 bar with the crazy high volume.
  • #33,511
  • Oct 2, 2020 1:01am Oct 2, 2020 1:01am
Quoting Anotan
{quote} Great trade on gold, the pros couldn't be any more obvious on that 6:55 bar with the crazy high volume.
i couldn t have caught it earlier as there wasn t a test for sellers, nothing, i think it could move higher, but...that vol looks a bit 2 climactic, also same for the rest of the pairs, a lot of vol, some daily setups also at key levels. today and monday will confirm if the high vol is continuation or stopping vol on some pairs. great way to start the day and end the week though. cheers
  • #33,512
  • Oct 2, 2020 2:17am Oct 2, 2020 2:17am
Quoting Anotan
Failed test into a trigger number and a gotcha bar. {image}
nice trade. these pre-election conditions are quite wild. need to be in the trade in and out quite fast.
the supply for EJ came at the same place as before- where we saw the biggest down wave 2 days ago we had the biggest volume down wave yesterday with no follow-through to the upside.

p.s.
looks like you trade all the sessions.
Attached Image (click to enlarge)
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The more you learn the more you earn
  • #33,513
  • Oct 4, 2020 11:44pm Oct 4, 2020 11:44pm
I'm on my phone today.. I'll try to post a chart later, but check out audjpy and eurjpy. Price easily pushed through the highs of Friday's h1 high volume Trump covid bar.

Thinking xxxjpy is ready for another rally.
  • #33,514
  • Oct 5, 2020 6:37am Oct 5, 2020 6:37am
Fairly tame trade, I was on my phone and I'm not all that comfortable with trading from it.

Horizontal line is the high of the Trump bar, today sellers tried to come in at the high but the next bar is up and with a wide body. Bulls were prepared to absorb the sellers. In VSA terms the herd sold 123.50, probably because of the sharp down move and thought they could make a quick buck selling the half number. The volume on sellers is nothing, there is no sharp increase in volume from the previous bar.

The reason why I'm showing a M30 chart is because of the high volume shakeout, I saw that bar with the next bar up with a wide body and bought it. Look at the increase in volume on the shakeout compared with the previous bar, that big increase in volume shows us that its the smart money is buying.

Took off 1/4 of the position and with last weeks FOMC volume and Friday's Trump volume I think this has a descent chance of running, see what this looks like at 125.50.
Attached Image (click to enlarge)
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  • #33,515
  • Oct 5, 2020 7:14am Oct 5, 2020 7:14am
Quoting Anotan
Fairly tame trade, I was on my phone and I'm not all that comfortable with trading from it. Horizontal line is the high of the Trump bar, today sellers tried to come in at the high but the next bar is up and with a wide body. Bulls were prepared to absorb the sellers. In VSA terms the herd sold 123.50, probably because of the sharp down move and thought they could make a quick buck selling the half number. The volume on sellers is nothing, there is no sharp increase in volume from the previous bar. The reason why I'm showing a M30 chart is because...
nice trade! i of course will continue with wave chart analysis. would want to encourage some others to do that as well. Im sure HiddenGap has looked at them for a while as well. Actually surprised that on FF there are so little weis wave chart posts, of course, it's harder to learn than MA crossover or some oscillator based strategy, but still... ..to my mind, it outperforms many strategies, just takes a lot of screen time to understand it the right way. AND with Wyckoff, it gives a massive edge in the markets.
Attached Image (click to enlarge)
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The more you learn the more you earn
  • #33,516
  • Oct 5, 2020 7:44am Oct 5, 2020 7:44am
Quoting freemind
{quote}...harder to learn than MA crossover or some oscillator based strategy...
Also it requires using a stop loss, traders at FF are deathly afraid of stop losses.


Quoting freemind
{quote}i of course will continue with wave chart analysis. would want to encourage some others to do that as well.
Post some charts! I probably won't fully understand them for a while, but will be interesting to see. From your previous posts I've come to the conclusion you trade for high RR which I'm always fascinated to see those.
  • #33,517
  • Oct 5, 2020 10:03am Oct 5, 2020 10:03am
A few scalps on AJ, just waiting for price to break above the Oct 1st high of 76.05 to exit.

High volume dip and a entry on a NS.
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  • #33,518
  • Edited 12:01pm Oct 5, 2020 11:45am | Edited 12:01pm
Quoting Anotan
A few scalps on AJ, just waiting for price to break above the Oct 1st high of 76.05 to exit. High volume dip and a entry on a NS. {image}
Added a few more orders and tightened up stops.

They tried their best to suck in as many shorts as they could, with how long it took for price to push up and the effort to suck in shorts I'm going to hold till 76.50.

**EDIT** Just saw there is an RBA cash rate, with my stop being so close to price atm I will close the trade in Early Asia before the release.
Attached Image (click to enlarge)
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  • #33,519
  • Oct 6, 2020 2:24am Oct 6, 2020 2:24am
Quoting Anotan
{quote} Added a few more orders and tightened up stops. They tried their best to suck in as many shorts as they could, with how long it took for price to push up and the effort to suck in shorts I'm going to hold till 76.50. **EDIT** Just saw there is an RBA cash rate, with my stop being so close to price atm I will close the trade in Early Asia before the release. {image}
I used to trade AJ, stopped it because it was very choppy often and you enter for longer term position then it starts to consolidate and then changes direction. look how beautiful indices looked at that time. I suggest you to replace AJ with dow or sp500 or nasdaq or dax. they are more directional markets.
The more you learn the more you earn
  • #33,520
  • Oct 6, 2020 7:17am Oct 6, 2020 7:17am
GOLD possible short, 1hr weak background, basicaly since yesterday every move gold try to have higher it got sold into, now it has just faked yesterdays high, clear weakness, waiting on a ND or a low vol test of that small 5m AR.
the only stink of this are the Dollar news due in 10m, think i m gonna wait few mints for them to pass and see if the setups is there.
cheers
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