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vsa with Malcolm

  • #35,121
  • Dec 6, 2021 8:35am Dec 6, 2021 8:35am
EURJPY this is why trading is fascinating to me.
I actually sold this and am in the trade still.
Will it lose? Maybe.
Do I care? No
Why? I followed my rules

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-B
  • #35,122
  • Dec 6, 2021 8:42am Dec 6, 2021 8:42am
Quoting trezo
{quote} wide {image}

Based on only that screenie - I see a range.
When price reaches the top - WAIT for a signal to tell you to enter back down
(more aggressive traders sometimes place sell limits there to get filled at the best price they want in at)

However the time frame above you could be up trending - so you could simply be selling into what is only a higher time frame pullback.

I know everyone here is different - and all of us have different methods to try and achieve the same goals -
so for ME that is a range trade waiting on a setup at the highs -

Other people might want to try a breakout since they see higher lows forming - and that is okay.

It is how YOU interpret the market
-B
  • #35,123
  • Dec 6, 2021 9:15am Dec 6, 2021 9:15am
Quoting kicktothehea
{quote} Based on only that screenie - I see a range. When price reaches the top - WAIT for a signal to tell you to enter back down (more aggressive traders sometimes place sell limits there to get filled at the best price they want in at) However the time frame above you could be up trending - so you could simply be selling into what is only a higher time frame pullback. I know everyone here is different - and all of us have different methods to try and achieve the same goals - so for ME that is a range trade waiting on a setup at the highs - Other...
Okey, and where are possible entries for you?
Daytrader
  • #35,124
  • Dec 6, 2021 9:17am Dec 6, 2021 9:17am
Quoting Paulscaff1
Gave in to impatience and took a long on EJ. Test after 2bar reversal. Lets see if it can get through the high of the buying climax I just noticed. {image}
How did you get these beautiful TG trend indicators?
Daytrader
  • #35,125
  • Dec 6, 2021 9:27am Dec 6, 2021 9:27am
Quoting trezo
{quote} Okey, and where are possible entries for you?
I do not see any possible entries from that screenshot.
I would be looking in the area of previous highs and if there was a signal I would be trading because I would think the range would stay in affect (until otherwise told by price)
-B
  • #35,126
  • Dec 6, 2021 12:57pm Dec 6, 2021 12:57pm
Quoting trezo
{quote} How did you get these beautiful TG trend indicators?
I bought the plugin...dont laugh
  • #35,127
  • Dec 6, 2021 2:52pm Dec 6, 2021 2:52pm
Quoting Paulscaff1
{quote} I bought the plugin...dont laugh
and these indicators which you send earlier ATR histogram and %Williams which HG noticed it is the same?
Daytrader
  • #35,128
  • Dec 6, 2021 3:26pm Dec 6, 2021 3:26pm
Quoting trezo
{quote} and these indicators which you send earlier ATR histogram and %Williams which HG noticed it is the same?
The ATR histogram will mimic the "Medium Term trend" when using 2.5 settings (if you can only do 3 it wont be far off)

The volume thermometer tries to identify whether the volume in a move is bearish or bullish. I.E a low volume downward retracement would show up as bullish volume and vice versa. (Not sure how accurate it is though)

Not really too sure about the williams%R mate, HG will know better.
  • #35,129
  • Edited 6:48pm Dec 6, 2021 6:24pm | Edited 6:48pm
Quoting Paulscaff1
{quote} The ATR histogram will mimic the "Medium Term trend" when using 2.5 settings (if you can only do 3 it wont be far off) The volume thermometer tries to identify whether the volume in a move is bearish or bullish. I.E a low volume downward retracement would show up as bullish volume and vice versa. (Not sure how accurate it is though) Not really too sure about the williams%R mate, HG will know better.
Do we need a trend indicator beside Price and Volume? it should be enough to recognize the trend with analyzing price and volume alone ... if we add any other trend indicator it will make the entries late and also increase trading risk (imho), but i dont mind if any VSA trader use additional indis to confirm the entries (so nothing wrong with Tradeguider make business with selling software). The only point i want to make here is, it is possible to trade VSA without any additional indicator, it will push you to analyzing more details to price and volume pattern without depending on other indis, because the pattern are repeating itself again and again.

if you can master it ... i just will say congratulation ... you find the holy grail for trading ... and the path to becoming multi millionare is very close ... (just kidding ... , the holy grail for trading is money management and understanding the trend direction)

for example my GOLD holding position from yesterday .... if I use additional indicator i believe I couldnt sell entry at this level ... my daily target is actually 100 pips ... if i didnt gready, my position already has been closed with 100 pips profit but i was too gready so i moved my target to 1763.9 assuming that the price will cross the buttom again ... lets see (still learning to get optimized profit level)

But all depend on you guys ... if you are comfortable trading VSA with additional indis then keep it trading that way ... just forget what i said above i'm nobody here not a master, still learning never ending ... it was just my thought ...

happy trading ....
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  • #35,130
  • Dec 6, 2021 11:10pm Dec 6, 2021 11:10pm
Quoting Cyberforex
{quote} Do we need a trend indicator beside Price and Volume? it should be enough to recognize the trend with analyzing price and volume alone ... if we add any other trend indicator it will make the entries late and also increase trading risk (imho), but i dont mind if any VSA trader use additional indis to confirm the entries (so nothing wrong with Tradeguider make business with selling software). The only point i want to make here is, it is possible to trade VSA without any additional indicator, it will push you to analyzing more details to price...

To be fair the SMA and the "medium term trend" have been on my charts for a couple of months now, either in the form of "atr stops" or "atr histogram", after I noticed that Malcolm was using them to some benefit.

I do get what you mean though about maybe missing the trade.

Sometimes when all the timframes line up in the scanner I look at the ADR and its been exceeded (still trying to get rid of adr but psychologically its became a bit of a challenge )

The "sharpshooter" strategy is an "in trend" strategy therefore allignment of the trend is part of the rules, obviously how many timeframes allign is up to ones self.

My main reason for experimenting with tradeguider is to try and get away from watching the charts too much, ive got a habit of doing 8 hours on the charts and not catching trades, either to over analysing or being too rigid. So rather than watching for a vsa signal, I can wait for an alert instead, then decide how to use the alert.

Thats the plan anyway, it may or may not be usefull in the end, or might be more usefull in the right hands, just need to see how it plays out.
  • #35,131
  • Dec 6, 2021 11:32pm Dec 6, 2021 11:32pm
Quoting Paulscaff1
{quote} To be fair the SMA and the "medium term trend" have been on my charts for a couple of months now, either in the form of "atr stops" or "atr histogram", after I noticed that Malcolm was using them to some benefit. I do get what you mean though about maybe missing the trade. Sometimes when all the timframes line up in the scanner I look at the ADR and its been exceeded (still trying to get rid of adr but psychologically its became a bit of a challenge ) The "sharpshooter" strategy is an "in trend" strategy therefore allignment of the...
how much it cost u? only asking cos i m planning to buy it also, quite an useful tool and would reduce the chart time by a mile.
  • #35,132
  • Dec 6, 2021 11:35pm Dec 6, 2021 11:35pm
Quoting 1odi
{quote} nice trade, it should cos, i see initial selling but the result is still green bars and closing off the high on low vol. what i do to confirm is go to 5m and even 1m to see if vol is off the high or low, cos often times what might look like a buying climax for example on the hrly could actually be SOS on 5m.
Looks like you were right about EJ yesterday, it managed to push through that supply. I moved my stop to breakeven when the spread started narrowing at that resistance so I got tagged out on the retracement, would have been a nice trade though.
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  • #35,133
  • Dec 6, 2021 11:40pm Dec 6, 2021 11:40pm
Quoting Paulscaff1
{quote} Looks like you were right about EJ yesterday, it managed to push through that supply. I moved my stop to breakeven when the spread started narrowing at that resistance so I got tagged out on the retracement, would have been a nice trade though. {image}
to avoid crap like this if the background is still ok for my intended direction, at R1 i take half or at R2, but i leave the SL where it is, that way it s still a BE trade if my SL gets tagged but also giving it some room to breathe. it also helps me with the psichology and not messin around with the trades. cos some weakness will show up here and there while beeing long for example, but most of the times the hrly background plays out. atleast that s my experience.
  • #35,134
  • Dec 6, 2021 11:44pm Dec 6, 2021 11:44pm
Quoting 1odi
{quote} how much it cost u? only asking cos i m planning to buy it also, quite an useful tool and would reduce the chart time by a mile.
I got it for a grand mate, but heres the thing.

I got "Smart Centre" not "Smart Centre Pro". I would rather have the Pro version and might upgrade it if I have the cash.

When you go onto the Tradeguider website the sales chat woman will pop up and you can see if you can get the price down.
  • #35,135
  • Edited Dec 7, 2021 12:09am Dec 6, 2021 11:51pm | Edited Dec 7, 2021 12:09am
Quoting Paulscaff1
{quote} I got it for a grand mate, but heres the thing. I got "Smart Centre" not "Smart Centre Pro". I would rather have the Pro version and might upgrade it if I have the cash. When you go onto the Tradeguider website the sales chat woman will pop up and you can see if you can get the price down.
imho, it s a great tool for volume traders, specially if 1 knows already how to trade without it. even for begginers vsa traders i think it s great, if they have the cash to throw. yeah, just saw, it s like 8K, wich to be honest isn t that much if the soft lives up to the xpectations. certainaly makes life a whole lot easier regarding chart time and analysis etc
PS> EU might set up for a nice sell down to prev suport, bottom hrly channel and fib extension, it just took out stops and aparently breakin support, if it does a low vol test would be great, HR background weak overall, it looked like the beggining of an accumul with that wide down bar climactic and the immediate bull react, but since then we have vol mostl showing weakness. i guess we ll see.
EDIT> strenght showed up at London open
  • #35,136
  • Dec 6, 2021 11:59pm Dec 6, 2021 11:59pm
Quoting 1odi
{quote} imho, it s a great tool for volume traders, specially if 1 knows already how to trade without it. even for begginers vsa traders i think it s great, if they have the cash to throw. yeah, just saw, it s like 8K, wich to be honest isn t that much if the soft lives up to the xpectations. certainaly makes life a whole lot easier regarding chart time and analysis etc PS> EU might set up for a nice sell down to prev suport, bottom hrly channel and fib extension, it just took out stops and aparently breakin support, if it does a low vol test would...
I dont think 8k is the real price mate, I think thats just a sales trick so they can work the final price with you. Smart centre was £1000 (black friday)and upgrade to pro is £500. If you chat to "Mary" the price should go down significantly.
  • #35,137
  • Dec 7, 2021 1:08am Dec 7, 2021 1:08am
Quoting 1odi
{quote} imho, it s a great tool for volume traders, specially if 1 knows already how to trade without it. even for begginers vsa traders i think it s great, if they have the cash to throw. yeah, just saw, it s like 8K, wich to be honest isn t that much if the soft lives up to the xpectations. certainaly makes life a whole lot easier regarding chart time and analysis etc PS> EU might set up for a nice sell down to prev suport, bottom hrly channel and fib extension, it just took out stops and aparently breakin support, if it does a low vol test would...
gave up on EU, GU was a lot cleaner vol and weakness wise, with the fake break, high vol upthrust with a bear engulf, effort vs result
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  • #35,138
  • Dec 7, 2021 1:17am Dec 7, 2021 1:17am
Quoting 1odi
{quote} gave up on EU, GU was a lot cleaner vol and weakness wise, with the fake break, high vol upthrust with a bear engulf, effort vs result {image}
you sold, i bought .... here is my entry for GU ...

https://www.forexfactory.com/thread/...8#post13814628

i may be wrong ... well i'm normally too lazy to post ... lol
  • #35,139
  • Dec 7, 2021 1:19am Dec 7, 2021 1:19am
Quoting Cyberforex
{quote} you sold, i bought .... here is my entry for GU ... https://www.forexfactory.com/thread/...8#post13814628 i may be wrong ... well i'm normally too lazy to post ... lol
i already took partials at 3R and it s a BE trade now, so whatever happens happens, but from a volume standpoint that s not a buy for me
  • #35,140
  • Dec 7, 2021 1:23am Dec 7, 2021 1:23am
Quoting 1odi
{quote} i already took partials at 3R and it s a BE trade now, so whatever happens happens, but from a volume standpoint that s not a buy for me
dont worry ... i may be wrong ...
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