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  • #5,061
  • Feb 1, 2010 2:14pm Feb 1, 2010 2:14pm
Quoting Intel
MM is also hugely important but, the correct MM strategy, depends COMPLETELY on your own particular targets and trading abilities.
I totally agree, too.

That is in fact my weaker point... I'm terrible at deciding to close a trade when I see it going the other way... and I also protect my trade by moving SL to breakeven, sometimes too soon...

My particular solutions to that were:
- I use 3 orders to enter and a script to place the orders (for faster execution);
- I scale (manually) the different TPs according to expected areas of S/R, and generally aiming for small profits between 10 to 40 pips;
- I use a managing EA to move SL to BE+1, once I'm 10 to 12 pips into profit (depending on the pair);
- I use the same EA to put a SL immediately after entering the trade, at a distance of 15 to 20 pips (depending again on the pair);
- If I'm in a positive trade when important news come out, I add a tight TS and let it roll until it closes.

This was my way to remove emotions at managing the trades... I'm fairly good at picking entry points, but I suck at managing
  • #5,062
  • Feb 1, 2010 2:31pm Feb 1, 2010 2:31pm
Quoting lolpie
I think in the end, they're the same. In my opinion MM and risk determine both your profit and loss, not necessarily profit targets.

Whether you should be trying to increase profits or decrease losses depends on if you are losing too much when you lose or not gaining enough when you win(in broad terms).

Also depends on your goals. Long term stability and steady growth requires a strategy that gives profits but reduces liability to manageable levels.

Whilst short term gain without regard for future trading, requires that profits be maximised ALMOST without regard for reducing losses.


People who want the long term gain would never contemplate using a martingale system(and others like it) while others should give considerable consideration towards its use.

Not that any of this is important if you can't recognise a winning trade when you see it
  • #5,063
  • Feb 1, 2010 3:06pm Feb 1, 2010 3:06pm
Quoting tonirai
I totally agree, too.

That is in fact my weaker point... I'm terrible at deciding to close a trade when I see it going the other way... and I also protect my trade by moving SL to breakeven, sometimes too soon...

My particular solutions to that were:
- I use 3 orders to enter and a script to place the orders (for faster execution);
- I scale (manually) the different TPs according to expected areas of S/R, and generally aiming for small profits between 10 to 40 pips;
- I use a managing EA to move SL to BE+1, once I'm 10 to 12 pips into profit...


'Scaling out' is a classic method used for reducing losses. But not always the correct method for the trading model (not saying that its not correct for you).

Scaling out reduces your profits in the hope that it will also reduce losses IF they occur. Often used by businesses who are not confident about the shortterm business plan.

Only a THOROUGH understanding of your trading model can help you decide whether scaling out is the correct move.
  • #5,064
  • Feb 1, 2010 4:25pm Feb 1, 2010 4:25pm
Quoting Intel
'Scaling out' is a classic method used for reducing losses. But not always the correct method for the trading model (not saying that its not correct for you).

Scaling out reduces your profits in the hope that it will also reduce losses IF they occur. Often used by businesses who are not confident about the shortterm business plan.

Only a THOROUGH understanding of your trading model can help you decide whether scaling out is the correct move.
Yes, I understand...
I do that, depending on the context of the trade, for example:
- If I'm trading against the major trend (if I believe it's a minor retracement and won't go far), the orders will have the same (or very close) and smaller TP;
- If in a ranging market, same as above;
- If trading with the trend, but close to a previous R/S area, I place 1 or 2 TP before it, and the rest believing in the breakout;
- If the trade has apparent room to develop, I scale the TP where I believe there will be a slow down - and sometimes trail when close to it.

I won't say it's the right or perfect way to do it... It's just a way I use to secure an initial profit, while still going for a bigger target if the oportunity develops
  • #5,065
  • Feb 1, 2010 4:46pm Feb 1, 2010 4:46pm
When you are unsure of where the best exit point is, scaling is great and will help to ensure you take at least SOME profit.

Sometimes tho, leaving it ALL to run and moving to BE or a modest profit will serve better. For instance:

If your first TP of the 3 is 20 pips then you move the other 2 to BE. You could instead, after 20 pips, move ALL SL TO +7 PIPS.

You have the same guaranteed profit but a MUCH GREATER potential profit.

Not always better but, worth considering.
  • #5,066
  • Edited 8:55am Feb 2, 2010 6:25am | Edited 8:55am
Hi all,

I have been trying to understand what VSA means for a week and I am a bit puzzled down and I can't read the picture unfortunately.

For this reason, I attach the GU chart (m15,m30,h1,h4 & d1) together. I am wondering that in which phase the current situation and is it weak, srtong, going to being markep up, or shake out coming, or near top, etc..

I mean, is it possible to read the picture ?

Thanks in advance.

Regards,

sorry, the 15m chart is just in the link, and if we have any comment on chart, what could we reach from it ?

http://img713.imageshack.us/i/gu15mon.jpg/
  • #5,067
  • Feb 2, 2010 8:53am Feb 2, 2010 8:53am
cannot see your charts.

I cant stress enough the importance of going through the material on the first page.

When you've finished it (and there is a lot of it) I guarantee you'll have a MUCH better undestanding of vsa.
  • #5,068
  • Edited 10:07am Feb 2, 2010 9:29am | Edited 10:07am
first of all thank you very much for your reply Intel.
I have put updated chart with a fall. Volume suddenly increased, priced decreased, closed near to middle.
Frankly speaking, although I am not capable of reading the chart acc. to VSA, I have some guess after 2 increasing price bars, I have waitied for a such fall, however 3 down bar made me feared, cause I started to think that the price would increase instead of a dramatic decrase, however, that decrease has come with more than 30 pips. On the other hand, I cannot make explanation why it's so regarding VSA.
I mean, is there any logical explanation of last decrease with VSA ? If so, please could you explain ?
In the meantime, there a lot of words, such as stopping volume, uptrhrust, reversal, no demand, no supply, etc, I havent set yet these terms.
And, it is now about 1,5970 :S, suddenly increased! My god, hoc can we explain it ?

here is the link of it, without last increase to 1,5970s,

http://img208.imageshack.us/i/gu15mu...th30pipfa.jpg/

Thanks ...

Here is more interesting chart. What's going on :S

http://img130.imageshack.us/i/gu15mmoreinteresting.jpg/

Quoting Intel
cannot see your charts.

I cant stress enough the importance of going through the material on the first page.

When you've finished it (and there is a lot of it) I guarantee you'll have a MUCH better undestanding of vsa.
  • #5,069
  • Feb 2, 2010 10:24am Feb 2, 2010 10:24am
Quoting bruceli
first of all thank you very much for your reply Intel.
I have put updated chart with a fall. Volume suddenly increased, priced decreased, closed near to middle.
Frankly speaking, although I am not capable of reading the chart acc. to VSA, I have some guess after 2 increasing price bars, I have waitied for a such fall, however 3 down bar made me feared, cause I started to think that the price would increase instead of a dramatic decrase, however, that decrease has come with more than 30 pips. On the other hand, I cannot make explanation why it's...
I'll echo what Intel said about reading all the stuff on 1st post. Have you done that? If you're asking what upthrusts, no supply and such are, then I take it you haven't read it yet. Honestly, you really need to do that first, THEN ask those kinds of questions. Start by reading "Master the Markets" then go to the other stuff would be my suggestion...
  • #5,070
  • Feb 2, 2010 10:54am Feb 2, 2010 10:54am
Quoting bruceli
first of all thank you very much for your reply Intel.
I have put updated chart with a fall. Volume suddenly increased, priced decreased, closed near to middle.
Frankly speaking, although I am not capable of reading the chart acc. to VSA, I have some guess after 2 increasing price bars, I have waitied for a such fall, however 3 down bar made me feared, cause I started to think that the price would increase instead of a dramatic decrase, however, that decrease has come with more than 30 pips. On the other hand, I cannot make explanation why it's...


This is not an obvious trade for VSA. You would need to go to the 5m chart to see it better.

You find yourself in a range with no particular strength or weakness in the immediate past however, within this range, you are at the top(in fact your in reletively new ground) and then you have a couple of tests. At this stage you could reasonably expect a retrace of some kind.

This is a very difficult trade in VSA and I'm pretty sure that I would not have taken it.

Maybe one of the more experienced guys could give a better explination and help more.

Having said all that, You'll probably not understand much of what I've said until you read the material on the first page..........MASSIVELY IMPORTANT.
  • #5,071
  • Feb 2, 2010 11:06am Feb 2, 2010 11:06am
The better volume indicator 1.4 from the first page is giving me some problems.

I am using just the volume indicator and NOT the painted bars part. When I attach it to the chart, my computer gets slower until i have 2 or 3 open, it slows my computer down almost to a stand still.

My Terminal cpu usage goes straight to 99% if I attempt to move the mouse!!!

Does anyone else have this problem or know what I may be doing wrong?

Many thanks.
  • #5,072
  • Feb 2, 2010 11:14am Feb 2, 2010 11:14am
Quoting Intel
The better volume indicator 1.4 from the first page is giving me some problems.

I am using just the volume indicator and NOT the painted bars part. When I attach it to the chart, my computer gets slower until i have 2 or 3 open, it slows my computer down almost to a stand still.

My Terminal cpu usage goes straight to 99% if I attempt to move the mouse!!!

Does anyone else have this problem or know what I may be doing wrong?

Many thanks.
If you don't want the colored bars, just delete the indicator and use the standard volume indicator ("volumes") that comes with MT4. I might not be understanding what you're saying, but the only reason for using Better Volume is for the bar colors; it's just coloring the bars that your MT4 volumes indicator puts there, nothing more.

Sorry if I'm misunderstanding though...

Also, I've not had any CPU problems by using it.
  • #5,073
  • Feb 2, 2010 11:26am Feb 2, 2010 11:26am
Quoting TC East
If you don't want the colored bars, just delete the indicator and use the standard volume indicator ("volumes") that comes with MT4. I might not be understanding what you're saying, but the only reason for using Better Volume is for the bar colors; it's just coloring the bars that your MT4 volumes indicator puts there, nothing more.

Sorry if I'm misunderstanding though...

Also, I've not had any CPU problems by using it.

The 'painted bars' part paints the price bars on the shart, the 'volume indicator' paints the volume bars.

I think anyway
  • #5,074
  • Feb 2, 2010 11:30am Feb 2, 2010 11:30am
Quoting TC East
If you don't want the colored bars, just delete the indicator and use the standard volume indicator ("volumes") that comes with MT4. I might not be understanding what you're saying, but the only reason for using Better Volume is for the bar colors; it's just coloring the bars that your MT4 volumes indicator puts there, nothing more.

Sorry if I'm misunderstanding though...

Also, I've not had any CPU problems by using it.

Watch the video
http://emini-watch.com/free-stuff/volume-indicator/

Gez
Seek not to change the world; seek only to change your mind about the world
  • #5,075
  • Feb 2, 2010 11:35am Feb 2, 2010 11:35am
Quoting Intel
The 'painted bars' part paints the price bars on the shart, the 'volume indicator' paints the volume bars.

I think anyway
Oh ok gotcha, my bad. It's been a while since I set it up, and I think I set it to only use the volume bars at the bottom and nothing on the price chart, hence the confusion...sorry Actually it sounds like we have it set up the same, but as mentioned I haven't had any issues...
  • #5,076
  • Feb 2, 2010 11:56am Feb 2, 2010 11:56am
Actually I have read but not understood yet. I gonna read more and more, as usual.

and I hope it gonna work and if I catch one decision per day via VSA, then it is ok for me

Again, thnx a lot for your replies.
  • #5,077
  • Feb 2, 2010 12:17pm Feb 2, 2010 12:17pm
As I was using this indicator, an obscure bug showed up. I was not able to edit the original post (too much time had passed) so I'm posting the corrected version below.

Sorry for any inconvenience...
Attached File(s)
File Type: mq4 BetterVolumeTicks.mq4   5 KB | 1,376 downloads
Old Benjamin was right
  • #5,078
  • Feb 2, 2010 12:41pm Feb 2, 2010 12:41pm
Quoting Lou G
As I was using this indicator, an obscure bug showed up. I was not able to edit the original post (too much time had passed) so I'm posting the corrected version below.

Sorry for any inconvenience...

Ah thats much better, 8 charts open and not a flicker of slow down!

Many thanks Lou
  • #5,079
  • Feb 2, 2010 1:20pm Feb 2, 2010 1:20pm
Quoting Intel
The better volume indicator 1.4 from the first page is giving me some problems.

I am using just the volume indicator and NOT the painted bars part. When I attach it to the chart, my computer gets slower until i have 2 or 3 open, it slows my computer down almost to a stand still.

My Terminal cpu usage goes straight to 99% if I attempt to move the mouse!!!

Does anyone else have this problem or know what I may be doing wrong?

Many thanks.
No problems related to better volume 1.4 at all....
The Market pays you to be disciplined
  • #5,080
  • Feb 2, 2010 2:02pm Feb 2, 2010 2:02pm
Quoting mima
No problems related to better volume 1.4 at all....

I guess I'm just the lucky one!!!!!!
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