hi guys, i'm using VSA to trade from 2 weeks almost, i have...
may take on eu is weakness in background
Blogging daily now at www.volume.zone
Trade Using VSA (Volume Spread Analysis)
- #3,861
- Nov 2, 2009 6:03pm Nov 2, 2009 6:03pm
- Joined Apr 2007 | Status: HARD SHYT SCUBA TRADER | 20,886 Posts
may take on eu is weakness in background
- #3,863
- Nov 2, 2009 6:39pm Nov 2, 2009 6:39pm
- Joined Apr 2007 | Status: HARD SHYT SCUBA TRADER | 20,886 Posts
Blogging daily now at www.volume.zone
- #3,866
- Nov 2, 2009 8:35pm Nov 2, 2009 8:35pm
- Joined Apr 2007 | Status: HARD SHYT SCUBA TRADER | 20,886 Posts
90% of the time you can tell what reaction a pair is going to have to news before news
here is gu short i took before aussie news
here is gu short i took before aussie news
Blogging daily now at www.volume.zone
- #3,867
- Nov 2, 2009 8:58pm Nov 2, 2009 8:58pm
- Joined Dec 2008 | Status: Resident Psychiatrist!!! | 2,600 Posts
- #3,868
- Nov 2, 2009 11:52pm Nov 2, 2009 11:52pm
Several tops were forming on the 15m at areas worth to monitor. Even when the move started there was a ND offer on 5m from the market to enter a bit later than should have. Struggling right now a bit.
Kind Regards
zol
- #3,869
- Nov 3, 2009 12:50am Nov 3, 2009 12:50am
- Joined Aug 2009 | Status: Reading the TAPE | 2,389 Posts
Without VSA, you're playing checkers while the Smart Money plays chess.
- #3,870
- Edited 2:14am Nov 3, 2009 1:52am | Edited 2:14am
- | Joined Sep 2007 | Status: Trader | 1,404 Posts
Hi HiddenGap,
i will post how i think in such situations.
I am just learning and perhaps what i will post here - is wrong
And ! also, i cant say that i would take it on Live or perhaps, i would think totally different when i would see such thing on live...
But nevertheless - this is how i am looking in such situations taking in action 2 bar close after seeing weak/strong bar..
Here is picture attached.
Best,
Tom
i will post how i think in such situations.
I am just learning and perhaps what i will post here - is wrong
And ! also, i cant say that i would take it on Live or perhaps, i would think totally different when i would see such thing on live...
But nevertheless - this is how i am looking in such situations taking in action 2 bar close after seeing weak/strong bar..
Here is picture attached.
Best,
Tom
Was trying to get an entry in the green square, but could not find one. What did I miss?
- #3,871
- Nov 3, 2009 2:27am Nov 3, 2009 2:27am
Hi HiddenGap,
i will post how i think in such situations.
I am just learning and perhaps what i will post here - is wrong
And ! also, i cant say that i would take it on Live or perhaps, i would think totally different when i would see such thing on live...
But nevertheless - this is how i am looking in such situations taking in action 2 bar close after seeing weak/strong bar..
Here is picture attached.
Best,
Tom
I would join to Tom with this. I noted a ND and another bar, EORM, on the 5m in the rectangle of yours. Where the small 5m candle with increased V s a bit strog to call it End of the Rising Marker (EORM) it has its indication of the action nevertheless IMHO.
What is better to me is the action in the background, also see Mals charts for that, and on the 15m that zone got hit twice and UT and ND are present over there on 15m.
Because of the 15m indications I recognised the bars on the 5m TF and found my way in on a NR bar after the first mark down bar on 5m.
A nice move this was.
Kind Regards
zol
- #3,872
- Nov 3, 2009 2:51am Nov 3, 2009 2:51am
Guys,
if you liked the EU move what do you thing of this one? I got this one for 111 pips, a rare clear move with no drawdone. While this sounds cool I do this not often at this stage. Nevertheless, 4-5 months ago I thought it is impossible to catch a move of 100 pips on purpose.
This is a message for those who are at the stage where I used to be - complete begginer.
First of all I am only slightly better since this is a long process and takes years to get good at and get onsistantly profitable so if you read guys making hundreds of pips do not get anxious as I got before.
Mal said once that 20-30 pips a day more than enough as a newby. I agree.
With the above example the set up is the interresting. If one recognises this it comes out right away that the risk is minimum comare to the move. My SL was above Tokyo Open price and target arond previous day low. That is some 30 to 100ish. It is nice to go with high risk to reward because you will get the entry wrong. And often. I do so somewhere in the next 3-5 trades I will lose for sure. You need hundreds of screen hours to be right very often. And super disciplince. But if the winners are bigger than the loosers it is profittable on the long run. This is what experienced people talk about and that is my problem with scalping quickly. To achieve this RR for a 10 pips scalp should I have a SL of 4? That is the bid-ask spred at some brokers.
Even 10 pip SL on a pair like GU or the beast is super risky for people trading less that 3-4 years.
I read about a trading method which is a hyper scalp for 3 pips a day. I think it is complete rubbish. So go for 5 days get 15 pips and than lose only once and wipe out the whole or what? Fapturbo he?
Having noted all these things, what would any good scalper suggest to these problems - other thatn practise endlessly?
Maybe selective trading. Maybe experience, practise ad all sort of things.
if you liked the EU move what do you thing of this one? I got this one for 111 pips, a rare clear move with no drawdone. While this sounds cool I do this not often at this stage. Nevertheless, 4-5 months ago I thought it is impossible to catch a move of 100 pips on purpose.
This is a message for those who are at the stage where I used to be - complete begginer.
First of all I am only slightly better since this is a long process and takes years to get good at and get onsistantly profitable so if you read guys making hundreds of pips do not get anxious as I got before.
Mal said once that 20-30 pips a day more than enough as a newby. I agree.
With the above example the set up is the interresting. If one recognises this it comes out right away that the risk is minimum comare to the move. My SL was above Tokyo Open price and target arond previous day low. That is some 30 to 100ish. It is nice to go with high risk to reward because you will get the entry wrong. And often. I do so somewhere in the next 3-5 trades I will lose for sure. You need hundreds of screen hours to be right very often. And super disciplince. But if the winners are bigger than the loosers it is profittable on the long run. This is what experienced people talk about and that is my problem with scalping quickly. To achieve this RR for a 10 pips scalp should I have a SL of 4? That is the bid-ask spred at some brokers.
Even 10 pip SL on a pair like GU or the beast is super risky for people trading less that 3-4 years.
I read about a trading method which is a hyper scalp for 3 pips a day. I think it is complete rubbish. So go for 5 days get 15 pips and than lose only once and wipe out the whole or what? Fapturbo he?
Having noted all these things, what would any good scalper suggest to these problems - other thatn practise endlessly?
Maybe selective trading. Maybe experience, practise ad all sort of things.
Kind Regards
zol
- #3,873
- Edited 4:25am Nov 3, 2009 3:45am | Edited 4:25am
- | Commercial User | Joined Mar 2008 | 9,088 Posts
- #3,877
- Nov 3, 2009 10:10am Nov 3, 2009 10:10am
- Joined Dec 2008 | Status: Resident Psychiatrist!!! | 2,600 Posts
- #3,878
- Nov 3, 2009 11:20am Nov 3, 2009 11:20am
Hello...first post in this thread. Been lurking a while Can you guys help me here? Posted is a loss I just took on GU. I thought I was reading it correctly, but obviously not.
The entry bar is marked, and was a low volume, low spread bar I thought was a "no demand" bar. I say this because I entered short before the bar closed, then when it closed, it ended up as a downbar by like 1/2 of a pip. Did that measly 1/2 pip make it NOT a no demand bar? If it had closed as a green bar 1/2 pip higher would the trade have worked?
The 2 bars prior looked to me like a possible buying climax, with the bar immediately prior seeming like a kind of upthrust? These VSA things, plus the fact it was hitting resistance, and I thought I had a decent trade on. But I was wrong.
Could you guys comment and tell me what you see, and/or why I should not have taken this trade?
I am trading micro lots while I learn this, so didn't lose much, however I am finding VSA a bit difficult right now, and I have as many losing trades as winners. Am reading Master the Markets, and this and other VSA threads. Evertime I think I've "got it", a trade like this happens and I get sort of discouraged.
So, all replies are welcome! Please share your thoughts (and would especially love to hear from who seem to be the senior guys like Malcolmb 14, Hidden Gap, Shamus, etc., but again, I'd love to see all replies).
Thanks...
Can you guys help me here? Posted is a loss I just took on GU. I thought I was reading it correctly, but obviously not.The entry bar is marked, and was a low volume, low spread bar I thought was a "no demand" bar. I say this because I entered short before the bar closed, then when it closed, it ended up as a downbar by like 1/2 of a pip. Did that measly 1/2 pip make it NOT a no demand bar? If it had closed as a green bar 1/2 pip higher would the trade have worked?
The 2 bars prior looked to me like a possible buying climax, with the bar immediately prior seeming like a kind of upthrust? These VSA things, plus the fact it was hitting resistance, and I thought I had a decent trade on. But I was wrong.
Could you guys comment and tell me what you see, and/or why I should not have taken this trade?
I am trading micro lots while I learn this, so didn't lose much, however I am finding VSA a bit difficult right now, and I have as many losing trades as winners. Am reading Master the Markets, and this and other VSA threads. Evertime I think I've "got it", a trade like this happens and I get sort of discouraged.
So, all replies are welcome! Please share your thoughts (and would especially love to hear from who seem to be the senior guys like Malcolmb 14, Hidden Gap, Shamus, etc., but again, I'd love to see all replies).
Thanks...
- #3,880
- Nov 3, 2009 12:02pm Nov 3, 2009 12:02pm
Hello...first post in this thread....
Hi there,
that 5m UT looking bar can not turn aroun that swing. As I write this there are potential UT on 1H and 30m, that is more like it. If you have a big move behind do not expect to be able to pick the top based on some good looking bars on 5m. Now, if those happen once the potential top is marked on a more signifficant TF as it is now, you are better of looking for clues.
It is not bad idea in a situation like this to note the UT on 1H, 30m, 15m. Than the price should do some fancy consolidation and when you see the 5m rolling over you are safer to check ND bars from it.
Also UT is not only because of the bar. You can fund those bars pretty often anywhere, yet they are not all UT. The best is at a zone of old high at the beginning of the down move. If you get it at the beginning of the up trend just still be cautious, unless you really know what you are doing.
Of course, on the atteched chart you could have taken the UT looking bar on the 5m to some profit - if you followed your prior actions. The market can be even ready to move down. I just would not trade at the end of New York, soon there will be no V left till Tokyo.
Kind Regards
zol