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Trade Using VSA (Volume Spread Analysis)

  • #4,061
  • Nov 11, 2009 8:39am Nov 11, 2009 8:39am
the other factor of today is that banks in us and canada are closed ....

so there maybe not to much movement till asia



[quote=Scottstone;3224994]
Quoting malcolmb14
you have the right idea ....and yes you did see buying on the down move ... so you are getting close

now to study entry
quote]

Thanks for the help Mal. I was using market profile for quite a while but then stopped, guess I need to keep that on my chart.

I had also read somewhere like what you said about only needing a small stop loss when following VSA. Because if you get in at the right time the trade should be going your way with next candle or two. That is why I had my stop under the minor support there. Don't...
Blogging daily now at www.volume.zone
  • #4,062
  • Nov 11, 2009 8:40am Nov 11, 2009 8:40am
HI Scot,

can You please put here ( attach ) Your candle clock indi ?


Thanks .


Best,
Tom
  • #4,063
  • Nov 11, 2009 9:09am Nov 11, 2009 9:09am
Quoting tfflyer
HI Scot,

can You please put here ( attach ) Your candle clock indi ?


Thanks .


Best,
Tom
Sure here you go!
Attached File(s)
File Type: ex4 THV3 CandleClock.ex4   5 KB | 607 downloads
  • #4,064
  • Nov 11, 2009 9:17am Nov 11, 2009 9:17am
morning folks--

i see a snake on 5 min GU..........hmmmmm
  • #4,065
  • Nov 11, 2009 9:18am Nov 11, 2009 9:18am
Quoting taomql4
morning folks--

i see a snake on 5 min GU..........hmmmmm
Ya watch out, son of a bitch already bit me once today!
  • #4,066
  • Edited 9:47am Nov 11, 2009 9:26am | Edited 9:47am
Quoting Scottstone
Ya watch out, son of a bitch already bit me once today!


still some room down there...
Attached Image (click to enlarge)
Click to Enlarge Name: tapereading9.gif Size: 35 KB
  • #4,067
  • Nov 11, 2009 9:32am Nov 11, 2009 9:32am
gu buying off .16620 zone , almost looks like accumulation

cvould be interesting next week when volume comes back into market.

seems us indexes breaking to new highs but forex not buying it

Attached Image (click to enlarge)
Click to Enlarge Name: chart1149.png Size: 246 KB
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  • #4,068
  • Nov 11, 2009 9:33am Nov 11, 2009 9:33am
am waiting for SM's to show their a***., its bye bye .6634
  • #4,069
  • Nov 11, 2009 9:34am Nov 11, 2009 9:34am
Quoting malcolmb14
gu buying off .16620 zone , almost looks like accumulation

cvould be interesting next week when volume comes back into market.

seems us indexes breaking to new highs but forex not buying it

Attachment

haa--beauty of VSA--do you think they are accu. to go up again--or they are
absorbing(distributing) those demands from old bottom.? To then go down
  • #4,070
  • Nov 11, 2009 9:51am Nov 11, 2009 9:51am
Quoting taomql4
haa--beauty of VSA--do you think they are accu. to go up again--or they are
absorbing(distributing) those demands from old bottom.? To then go down

seems ES is easier to trade ... lol....

that drop had no vsa set up on it ... base looked like 6620 , now waiting for up move with no demand for short entry

ES went up 8 points hit buying climax down 10
Blogging daily now at www.volume.zone
  • #4,071
  • Nov 11, 2009 10:18am Nov 11, 2009 10:18am
Quoting malcolmb14
seems ES is easier to trade ... lol....

that drop had no vsa set up on it ... base looked like 6620 , now waiting for up move with no demand for short entry

ES went up 8 points hit buying climax down 10
me, i avoid the drama!!!!lol
Attached Image (click to enlarge)
Click to Enlarge Name: tapereading10.gif Size: 36 KB
  • #4,072
  • Nov 11, 2009 10:46am Nov 11, 2009 10:46am
Here is mine too.
Before that i was long.. tooked loss and went short.

I saw reason for that..
But that me, who is a lot of times wrong.

Best,
Tom
Attached Image
  • #4,073
  • Nov 11, 2009 10:58am Nov 11, 2009 10:58am
Quoting Scottstone
Of course just like I predicted, hit my stop and turn around you stupid C***! I must be a f****** idiot.

I can see one thing I did wrong and that was trying to buy on a break out of resistance thinking the low vol squat bar before I entered was the signal for higher prices.

How can you tell when SM is finally done building a cause before they start moving up?
My vsa skills are limited so perhaps I should just keep my opinions to myself.

For what its worth, just a general trading thingie but after a massive drop like that I never take what appears to be the first trade up, that has saved me a lot of pips, use it don't use it .......................

15 min chart highlighted candle solid move up on increased volume but no follow through and vol falling off. That had me worried.
Attached Image
  • #4,074
  • Nov 11, 2009 11:17am Nov 11, 2009 11:17am
thing is the trade was ok ... wide spread high volume down bar into prior buying zone on shake out in asia

the buying off 1.6620 was ok .... i think anyway , but then as you said there was that weakness again oin 15 min

this is when sometimes , with mixed signals best to keep out of market.



Quoting Vantage
My vsa skills are limited so perhaps I should just keep my opinions to myself.

For what its worth, just a general trading thingie but after a massive drop like that I never take what appears to be the first trade up, that has saved me a lot of pips, use it don't use it .......................

15 min chart highlighted candle solid move up on increased volume but no follow through and vol falling off. That had me worried.
Blogging daily now at www.volume.zone
  • #4,075
  • Nov 11, 2009 11:31am Nov 11, 2009 11:31am
Quoting Scottstone
Of course just like I predicted, hit my stop and turn around you stupid C***! I must be a f****** idiot.

I can see one thing I did wrong and that was trying to buy on a break out of resistance thinking the low vol squat bar before I entered was the signal for higher prices.

How can you tell when SM is finally done building a cause before they start moving up?
I think you spotted your own mistake, you bought near resistance. Also notice the wide spread up bar about 3-4 bars before your entry, it was on low volume. That should be a warning sign that although we have observed buying in the background, we're not quite ready to go up yet.

I'd also make the case that perhaps your stop was too tight, I would have wanted to place my stop below 6616 (the low of recent action), or 6600 (psychological number), so the market has to work to take out my stop. but this might lead to having an unacceptable risk for the trade, and in that case you follow your risk management strategy and you stay out until another trade with acceptable risk presents itself.

If hypothetically price hadn't gone down after your entry, and had instead gone up, I would have been looking for an entry on a retest of 6675 resistance (that price seemed to be the upper limit of accummulation), i.e., we break the recent highs, and then we look for a retest to confirm the break. Enter on retest, provided we see good vsa signals to do so.
  • #4,076
  • Nov 11, 2009 11:51am Nov 11, 2009 11:51am
I think maybe a big part of me losing on that trade too was not waiting for comformation of an upbar after the sign of no supply on that squat bar. Got to learn to more patient.
  • #4,077
  • Nov 11, 2009 11:58am Nov 11, 2009 11:58am
Quoting Scottstone
I think maybe a big part of me losing on that trade too was not waiting for comformation of an upbar after the sign of no supply on that squat bar. Got to learn to more patient.
I always say the same: You make money by waiting, not by trading.

I know it's nice to say it but very difficult to follow these words but you have to try it again and again, ... and be very patient.
You make money by waiting, not by trading.
  • #4,078
  • Edited 1:16pm Nov 11, 2009 1:01pm | Edited 1:16pm
hey..banks closed, short everything..lol, today was a double
whammy, Gu should take a break at .6503, thats a weekly pivot.
Attached Image (click to enlarge)
Click to Enlarge Name: tapereading12.gif Size: 70 KB
  • #4,079
  • Nov 11, 2009 3:36pm Nov 11, 2009 3:36pm
Quoting taomql4
hey..banks closed, short everything..lol, today was a double
whammy, Gu should take a break at .6503, thats a weekly pivot.
Hi taomql4...I notice a lot of the charts you post are 1 hour; is that the TF you use for trading VSA? I've been having a 1, 5, and 15 min open at same time, but still not quite sure which to really watch in order to make trading decisions. Appreciate any comments!

Thanks...
  • #4,080
  • Nov 11, 2009 4:18pm Nov 11, 2009 4:18pm
Quoting malcolmb14
seems ES is easier to trade ... lol....

that drop had no vsa set up on it ... base looked like 6620 , now waiting for up move with no demand for short entry

ES went up 8 points hit buying climax down 10
If you believe the COT data published at this blog site (look at the entry for 30th October):

http://cotstimer.blogspot.com/

It looks like even the smart money at the CME got it quite badly wrong on the S&P...

Malcolmb, how much higher do you figure the ES can go before some serious profit taking will kick in?
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