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My Study Journal and TopStep Combine Journey

  • #41
  • Jun 17, 2022 9:11am Jun 17, 2022 9:11am
Quoting Frag8383
{quote} I think contrary, in the sense that if you look for areas where the price may turn being ICT, S/D, support or resistance or whoever you want to call them, I actually think that they are all the same with different names, the use of VSA is very good because it can tell you if is going to really reverse which is the problem with those strategies that you dont know which ones are going to work or not. But that is just y opinion. Actually I think that VSA can go hand in hand with any strategy and make it better Kind Regards
Areas where price may turn....one of them being "ICT"? Can you elaborate on that.

What I was meaning by mixing the two, is that they are two opposing theories as to what makes price move.
  • #42
  • Jun 17, 2022 9:32am Jun 17, 2022 9:32am
Quoting Anotan
{quote} What you're thinking about is real volume, for how he trades he doesn't need real volume. Real Volume = Total number of shares/contract/lots traded over a given time period. Tick volume = Indicator that counts how much price fluctuates over a given time period. I.E. If price ticks up 0.1 pip that would equal 1 tick volume, if price then moved down 0.2 pips the total tick volume would be 3. Use your favorite search engine "Forex Tick Volume". There is a lot of information out there about it.
If he talked about :

(2) Volume is activity.
(3) Any true "Smart Money" concept has to incorporate volume, since volume is where the Smart Money's footprints are seen.

And if he dont see real volume then how can he make trading decitions based of volume ?
but lets forget it.
I might be wrong , I have been wrong before
  • #43
  • Jun 17, 2022 10:02am Jun 17, 2022 10:02am
Quoting Paulscaff1
{quote} Areas where price may turn....one of them being "ICT"? Can you elaborate on that. What I was meaning by mixing the two, is that they are two opposing theories as to what makes price move.
ICT says that orderblock is the lowest down candle before a structure break for longs(he also looks that the candle has a big size body), then prices return to that candle "orderblock".

There are 2 possible reasons why it comes back to the orderblock,

The first 1 is used by the ICT traders, so you have HTF structure that is long, then you have lower timeframe going from structure short to structure long then you wait for a retest of the orderblock on the lower TF, imbalance(other traders just call them WRB) or whatever you are looking for that ICT uses. This is the common strategy that you see people using when applying ICT, the play the % numbers of taking many trades like that going with the HTF and the change in structure of the lower timeframe, in works over many trades.

First personally I do not believe in imbalances and that short of thing that they must be filled and all that, I believe that the reason that the price returns to the areas is because big institutions want to sack out traders and specially because they did not get to fill all the orders they wanted so that is why they make the price return. Many times it does not return, what does that mean, there are no imbalances or orderblocks? no it means that they had accumulated all they need it.

The second is were ICT traders loose money, the price breaks up to take liquidity and then it goes down and breaks structure down.
Here is were VSA can come into play, when the prices goes into the order block, looking if there is really demand and is graving orders to go up or is just going to go down is something that you can do with VSA.

For Hidden Gap is not different than when the price goes into a WRB, or High Volume bar and he starts using VSA to decide if to enter or not.

That is why I mentioned that VSA is very good, ICT traders just enter when the Order Block is hit, no confirmation no reading of volume or anything

Kind Regards
  • #44
  • Jun 17, 2022 10:41am Jun 17, 2022 10:41am
Quoting Frag8383
{quote} ICT says that orderblock is the lowest down candle before a structure break for longs(he also looks that the candle has a big size body), then prices return to that candle "orderblock". There are 2 possible reasons why it comes back to the orderblock, The first 1 is used by the ICT traders, so you have HTF structure that is long, then you have lower timeframe going from structure short to structure long then you wait for a retest of the orderblock on the lower TF, imbalance(other traders just call them WRB) or whatever you are looking for...
Sound mate, I get what you mean
  • #45
  • Jul 10, 2022 8:36am Jul 10, 2022 8:36am
I believe in Volume Spread Analysis (VSA), and I shouldn't let my dislike of the way certain traders trade with VSA cause me to want abandon it.

The real Journal starts here where the method is VSA and the Prop Firm funding account will be through APEX Trader Funding.

GETTING FUNDED:

I do not want to get into the pluses and minuses of getting funded through the various prop firms around today. I believe APEX Trader Funding is the best way to go.

1. It's Futures and not Forex or CFDs.
2. Trade 23 hours a day (including holidays and news events).
3. I can use Sierra Charts
4. Only one level to pass for funding.

I will detail the rules of the Account "Evolution" later, but the main numbers are:

1. $100,000.00 Account
2. Make $6,0000
3. Trailing Drawdown $3,000
5. Trade up to 14 contracts (28 micros)

THE METHOD

The method employed Volume Spread Analysis (VSA).

More to come.

** I've purchased an APEX Evaluation, but I'm having issues connecting Rithmic to Sierra Charts. Which is weird as there were no such issues with TopStep. APEX's preferred platform is NinjaTrader, so they have been of little help. And Sierra will not help with Rithmic related issues at all.
Without VSA, you're playing checkers while the Smart Money plays chess.
  • #46
  • Aug 16, 2022 1:37pm Aug 16, 2022 1:37pm
Finally figured it out. I had to download a second version of Sierra Charts. So I have one version with just the Denali feed and one version with Rithmic and the Denali feed.

* The 100,000 account I purchased actually expired without me taking any trades. I canceled the account so I wouldn't be charged the monthly fee (at 50% of list).

* I thought I had figured out the problem and bought another subscription that was discounted 75% (instead of the previous 80%), I decided to go with the $75.000 since I wasn't completely sure I was going to be able to use the account. Initially, it didn't. But then I finally found information about downloading another version of Sierra into a different folder.

Key Rules for the Account:

1. $75,000.00
2. Contracts : 12 (24 Micros)
3. Profit Goal : $4,250

4. Trailing Threshold : $2,750

5. Daily Drawdown : None

6. Scaling Penalty : None

7. New Trading allowed


I made a few "trades" on Sunday just to see if the connect was good.


So I started today in drawdown. Had a small win to start the day followed by a couple of losses. Then I got my shit together and this happened:


The Trade Idea:


Range extension. There's a few ways to define range extension: 1. Price is outside of the Initial Balance Value Area (IBVA), 2. Price is outside of the Developing Value Area 3. Price is outside of yesterday's high or low.


When price moved outside of today's IBVA and the Developing VA, I started thinking about range extension. I noted that the Initial Balance Profile was "p" shaped. which is bullish.


Price traded above Yesterday's Point Of Control (YPOC). Price then found support as there was a Test followed by a Spring. I expected price to make a move up to Yesterday's Value Area High (YVAH) then move to Yesterday's High (YH). So my first target was at YH and my second target was above. I was hoping to catch a runner on the second part of the position. As I believed the overall trend would take price higher.


Attached Image (click to enlarge)
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Note: I'm defining the Initial Balance as the Value Area for the first hour, which is not to be confused with the first hour opening range (High to Low).

Without VSA, you're playing checkers while the Smart Money plays chess.
  • #47
  • Aug 18, 2022 1:49pm Aug 18, 2022 1:49pm
Good day. I did some things right, I did more things wrong. But I've learned from my mistakes.

I took 3 trades: 1 win 2 losses.

Trade 1 (loss)

The Trade Idea:

Range Extension. The Market broke out of the IB. It tested Yesterday's POC (YPOC) and closed above the Developing Value Area. I was playing for a move to Half Back (HB) and then to Yesterday's High (YH). This was my first mistake. I want to trade away from HB, not to it. In other words, Longs above and Shorts below

Attached Image (click to enlarge)
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Trade 2 (win)

The Trade Idea:

Value Area Rotation trade. When price finds acceptance outside of the value area and then reenters, there's a high probability that price will traverse all the way to the other side of value. The first target is the POC and the second target is the other side of value. I saw Supply enter the Market as price moved outside of value. I then saw price reject off of Yesterday's VWAP (YVWAP).

Attached Image (click to enlarge)
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Price hit Target 1

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But it did not complete the rotation and I was taken out of the second position at break even (actually a little worse).

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Trade 3 (loss)

The Trade Idea:

Range expansion. However, this time price was on the correct side of HB. First target was Yesterday's High (YH). It looked good at the start then fizzled out.

Attached Image (click to enlarge)
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The best trade of the day, was the one I didn't take.

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After taking me out of my long, there was clear acceptance outside of Yesterday's Value, Today's Developing Value Area, and the IB. Price fell swiftly back into YVA and DVA

The profile said the Market was rotational ("D" shaped).

Price moved down all the way to the DVAL, but did not make it to YVAL.
Without VSA, you're playing checkers while the Smart Money plays chess.
  • #48
  • Aug 19, 2022 11:00am Aug 19, 2022 11:00am
Beautiful trading day. Yes I made money, but more importantly I demonstrated patience and discipline. It's Friday and Fridays are about protecting the money you gained in the week, so after this one trade I called it quits.

Trade 1 (Win 14.25 pts)

Trade Idea:

Range Expansion (price discovery). Overnight price moved down There was a nice rejection of Yesterday's Low (YL). Yesterday was an inside day, and we know that balance typically leads to imbalance. As the RTH started, there was another rejection of YL. The developing profile had a very wide Value Area. On trend days, Value doesn't exist. The Market is in price discovery mode. I knew we were in price discovery mode and have already extended the range beyond yesterday's low (YL).

The Initial Balance Profile formed and the Value Area was wide with the IBPOC at the bottom. I was only looking to get short. If price could expanded beyond the IBL, come back and retest, I would enter short. Price balanced (or consolidated) and then broke below the IBL and came back and gave a No Demand. Resistance has become Support. Get Short.

Attached Image (click to enlarge)
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First profit target hit, stop moved to break even and then down to the DVAL.

Attached Image (click to enlarge)
Click to Enlarge Name: VSAProfile 13.jpg Size: 621 KB

Market started to retrace a bit and I exited as I am a bit worried about the trailing downdraw rule Apex employs (it uses unrealized gains).

Attached Image (click to enlarge)
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Without VSA, you're playing checkers while the Smart Money plays chess.
  • #49
  • Aug 19, 2022 6:02pm Aug 19, 2022 6:02pm
Back on track, nice to see that you are taking it easy and trying to be under control good luck and good weekend
  • #50
  • Aug 23, 2022 4:30pm Aug 23, 2022 4:30pm
Everyday you follow your rules is a good day. Yesterday I followed my rules.

Trade 1 (win 9.50)

Trade Idea:

Range extension (price discovery). The daily profile was a "b" shape. This means is was safe to sell the highs and risky to buy the lows. It's risky to buy the lows because the Market is poised to extend. We gapped down from Friday's close and failed at Friday's low, so coming into Monday's RTH, there was a bearish tone to the market. Which was exemplified by the shape of the auction (the profile).

Price traded outside the IBL and then broke out below the low of the Developing Value Area Low (DVAL).

Attached Image (click to enlarge)
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Exited the position before my targets. Clearly defined targets for the extension trade will help.

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Without VSA, you're playing checkers while the Smart Money plays chess.
  • #51
  • Edited 4:55pm Aug 23, 2022 4:44pm | Edited 4:55pm
Crazy fun day. Took three trades. 1-3 trades is about the correct amount of trades (based mainly on the amount of time I am willing to be in a trade. The Market is a friendly place).

Trade 1 (Loss 6.0)

Trade Idea:

Rotation Trade. Before the RTH open price moved outside of the Developing Value Area. If price moved back into the Value Area, there would be a high probability that price would trade to the DPOC and then to the other side of Value.

Attached Image (click to enlarge)
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Trade 2 (Loss 6.0 Net 12.00)



Trade 3 (Win 22.00 Net 10.00)

Rotation Trade.


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Model example of a Rotation Trade.

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Without VSA, you're playing checkers while the Smart Money plays chess.
  • #52
  • Aug 25, 2022 3:21pm Aug 25, 2022 3:21pm
Gratitude and belief. Today was a good day. It started off with a beautiful rejection off of YVAH. I say the Climatic Volume followed by an EvR and I said to myself, "that's a long". I did not take it. lesson learned: trust yourself.

Attached Image (click to enlarge)
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I stayed in the moment rather than dwelling on the missed opportunity. There will always be another trade, the Market is full of abundance.

I took 4 trades. 2 losses and 2 wins.

Trade 1 (Loss -6.00)

I didn't get a pick but the idea was range expansion. The key here is that the Developing Value Area shifted in the trade and I was no longer trading outside of value. Accordingly, the reason for the trade no longer existed.

Trade 2 (Win +1.00 Net -5.00)


Trade idea:

Range expansion. While the IB was not set, the Market had traversed the Developing Value Area and was closing outside. The Market was finding value higher then the previous day. The Market was also trading above Yesterday's High (YL).

Attached Image (click to enlarge)
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The Value Area shifted up, which negated the reason for the trade. Had to exit.

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Trade 3 (Loss -6.00 Net -11.00)

More of the same. I tried to trade for range extension even though I was beginning to see signs of weakness in the Market.

Trade 4 (Win +31.25 Net +20.25)


Trade Idea:

Value Rotation Trade. After the IB was set, more weakness was evident. Price appeared to be rejecting off of the DVAH. The idea was that price would traverse to the bottom of the Value Area. Price also broke above the IBH, so there was a good chance that price would travel back down to the IBL. Accordingly, my first take profit was placed at IBPOC and my second target was initially placed at the DVAL.

Attached Image (click to enlarge)
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DVAL shifted up slightly, but I decided to keep my stop lower around YH. I thought about moving it all the way down to the IBL, but did not. The Market did eventually hit the IBL.

Attached Image (click to enlarge)
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Without VSA, you're playing checkers while the Smart Money plays chess.
  • #53
  • Aug 25, 2022 4:46pm Aug 25, 2022 4:46pm
Nice !!!!!!!

What Im seeing from your trades more than the trades themselves is that winning% is not that important but keep calm respect stops, be patient is more important
  • #54
  • Aug 26, 2022 10:03am Aug 26, 2022 10:03am
Quoting Frag8383
Nice !!!!!!! What Im seeing from your trades more than the trades themselves is that winning% is not that important but keep calm respect stops, be patient is more important
Trading is a loser's game: He who loses best, wins.
Without VSA, you're playing checkers while the Smart Money plays chess.
  • #55
  • Aug 26, 2022 10:21am Aug 26, 2022 10:21am
Quoting HiddenGap
{quote} Trading is a loser's game: He who loses best, wins.
I never thought that way but I'm starting to believe so. That is why is so difficult for everyone to trade we have been teach before we have any knowledge that if you looser, is so inbeded with us that is very hard.
I have always played a lot of sports and I'm very competitive and never want to loose that has made trading very hard

Kind regards
  • #56
  • Aug 26, 2022 10:37am Aug 26, 2022 10:37am
Wild day. Thankful and humbled. The Market was insane today. The Market takes the stairs up and the elevator down.

It's nice to be in tune with the Market. To want what it wants. Just before the RTH open, the Market reentered the Developing Value Area, setting off a possible Rotation Trade.

Attached Image (click to enlarge)
Click to Enlarge Name: VSAProfile 26.jpg Size: 527 KB


I took 2 trades. 2 wins.

Trade 1(Win: +14.75)

Trade Idea:

Rotation Trade. Specifically, the 80% Rotation Trade. The difference between a Rotation Trade and the 80% trade is that the 80% trade is based on Fixed Value Areas.

This was crazy. I did not even have a chance to move my profit targets after entry. I entered when price entered below YVAH.

Attached Image (click to enlarge)
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Trade 2 (Win: + 31.5 Net:+46.25)

Trade Idea:

Second verse, same as the first. 80% trade. The first trade did not go all the way to the other side of the Value Area as it got hung up around YPOC. It's the 80% trade, not the 100% trade.

Attached Image (click to enlarge)
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Market wasn't as fast this time. I was able to place my profit targets. YPOC target hit. Moved stop to breakeven.

Attached Image (click to enlarge)
Click to Enlarge Name: VSAProfile 29.jpg Size: 565 KB

YVAL hit.

Attached Image (click to enlarge)
Click to Enlarge Name: VSAProfile 30.jpg Size: 563 KB
Without VSA, you're playing checkers while the Smart Money plays chess.
  • #57
  • Last Post: Aug 26, 2022 8:41pm Aug 26, 2022 8:41pm
Making hay when the sun is shining. Great stuff Hidden Gap!
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