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Trade Using VSA (Volume Spread Analysis)

  • #6,261
  • Mar 30, 2010 12:05pm Mar 30, 2010 12:05pm
Quoting taomql4
Don't limit yourself--i say open all currencies(MT4) that you can trade on your live account .
Look for the Best accumulation and distribution
patterns that you like to Trade--and then , Go for them.

Accumulation and Distribution happens the same way in all currencies
and commodities, so i think its best to train Your eyes on how to spot
them , cause they come in all kinds of shapes and sizes.
You're absolutely right of course. But don't missunderstand me, that is how I normally trade but, I find it difficult to learn when I'm doing that.

What I'm doing today and most of this week is for learning purposes not trading. After all, I'm still a trading novice as well as a VSA novice
  • #6,262
  • Mar 30, 2010 12:09pm Mar 30, 2010 12:09pm
Quoting Intel
theres the retrace, hope we can gather enough volume to break thru the 70 zone now
Well, we have broke that 70 barrier but not with the gusto and almighty towering volume that I'd like...........more of a limp dribble really.

SL moved to 80 just to lock some profit in.
  • #6,263
  • Mar 30, 2010 12:15pm Mar 30, 2010 12:15pm
Second thoughts SL to 85
  • #6,264
  • Mar 30, 2010 12:33pm Mar 30, 2010 12:33pm
Quoting Intel
Second thoughts SL to 85
SL to 75, no signs of going up but the volumes are still concerning.
  • #6,265
  • Mar 30, 2010 12:59pm Mar 30, 2010 12:59pm
Quoting Intel
Second thoughts SL to 85
i thought you had sell limits at 1.5070?
  • #6,266
  • Mar 30, 2010 1:08pm Mar 30, 2010 1:08pm
Quoting Sonofsin5
i thought you had sell limits at 1.5070?
Earlier I was entering if it got past that level, but it didn't make it. The price rose since then and I took a short at 5095.
  • #6,267
  • Edited 1:42pm Mar 30, 2010 1:35pm | Edited 1:42pm
out at 60 for 35 pips.

A total of 61 minus 2 x spreads from GU for today, quite pleased considering the day we've had.

  • #6,268
  • Mar 30, 2010 2:47pm Mar 30, 2010 2:47pm
Quoting Intel
out at 60 for 35 pips.

A total of 61 minus 2 x spreads from GU for today, quite pleased considering the day we've had.

ubfortunately, I got panic and -20 pips , betten then -200 pips, 2 weeks ago

if I didnt panic, then it could be zero... anyway...

these days, these bars are so strange
  • #6,269
  • Mar 30, 2010 2:48pm Mar 30, 2010 2:48pm
now, I am out of control, no direction, no sense, no any evidence.. I am lost bros..
gonna stay and watch tomorrow, and if i could catch any signs...
  • #6,270
  • Edited 3:28pm Mar 30, 2010 2:57pm | Edited 3:28pm
Quoting 4X4Fun
I don't qualify as a trader. YET. I am only halfway through this thread and still on first reading of MTM, but I like what I have learned so far and expect to join the big boys one day.

Thank you to all who have helped to make this a place where a complete neophyte can learn, and for posting charts and explanations that are understandable. (Well, understandable after MUCH thought!)
Welcome...



You have indeed found a place where anyone who wishes can learn from many great teachers, all of whom give very generously of their time and knowledge to create a place where one can learn without fear or condemnation.

This has beome a real community thanks to their vision and the contributions of all who have joined with them.

We all wish you and others just beginning their journey a smooth and enjoyable road to prosperity and we all look forward to seeing you reap the rewards that await those who study and apply what is taught here.

Never hesitate to post a question or a thought, someone will always be willing to help, no matter.

And never forget... There are no stupid questions, only expensive mistakes !


Sincerely,

Chief
  • #6,271
  • Mar 30, 2010 3:07pm Mar 30, 2010 3:07pm
Quoting bruceli
ubfortunately, I got panic and -20 pips , betten then -200 pips, 2 weeks ago

if I didnt panic, then it could be zero... anyway...

these days, these bars are so strange
You're right, better 20 than 200.

I decide before I enter how confident I am about the trade. I will tighten my SL sometimes if I think it's justified and I absolutely will not lengthen it (past its original set point)once it's set. In these cases, I will move to BE fairly quickly, and on to a modest profit also quite soon.

Today was a good example of that.
  • #6,272
  • Mar 30, 2010 3:23pm Mar 30, 2010 3:23pm
Quoting bruceli
now, I am out of control, no direction, no sense, no any evidence.. I am lost bros..
gonna stay and watch tomorrow, and if i could catch any signs...
Trust your edge.

Don't over leverage as most times this is what causes fear. So, remove fear and stay focused. If possible go through the basics over and over again (pdf).

Once a trade is placed, you have done your part. Only thing you can do after wards is follow your plan. In order words, you must have a plan.

I know this is not new and you must have heard this a thousand times, if not a million. However, in a time like this you have to pull your own ears and sit tight.

Just a reminder...

Cheers.
  • #6,273
  • Mar 30, 2010 5:08pm Mar 30, 2010 5:08pm
thanks for your supports Intel, wh1zz0.

I get nervous as time passes and I couldnt reach the target.

When I lost some 200 pips, actually several days later that position got positive.

regarding vsa, if we follow,trace something, than I should set my profit more than 10 pips. this is my fault actually. I use only 0,1 K, 1pip 1usd profit or loss.

yes, the big question is this, yesterday several bars (one hour) closed on its highs by jumping in last several minutes even seconds and it seems this rise stopped a bit.

I am waiting for a fall at least to 1,4920s where it's started. I am not sure of course, however, if we take into consideration vsa's main phases, then we should and could fix the region any one of phase occured. accumulation is the difficult one for me, however yesterday's and today's rise should be some kind of mark-up which seems easier to catch .
that's to say, I want to open short targeting 1,4900s, even against some additional rise up, and in this case I am planning to add equal amount of short from any possible rise to 1,5150s. however, I am afraid.

laslty, maybe it is not possible to apply all rules of vsa to forex.
  • #6,274
  • Mar 30, 2010 5:19pm Mar 30, 2010 5:19pm
Quoting Sonofsin5
im curious about this bar at the moment

that is a no supply ...

this top if it is one sure is messy

I am looking at the 4hour , the doji on high volume as a major sign of weakness
Blogging daily now at www.volume.zone
  • #6,275
  • Mar 30, 2010 8:11pm Mar 30, 2010 8:11pm
Question for everyone on chart.

My answer is on chart, however, that bar shows too much demand still.

B,
Tom
Attached Image (click to enlarge)
Click to Enlarge Name: gu 15 min tom.gif Size: 26 KB
  • #6,276
  • Mar 31, 2010 2:45am Mar 31, 2010 2:45am
Quoting tfflyer
Question for everyone on chart.

My answer is on chart, however, that bar shows too much demand still.

B,
Tom
UT followed by ND with a down swing then small retrace with a lower high and decreased volume, all followed with a down bar.

The UT and ND were unconfirmed and as such, made me a little nervous. I put the retrace bar down to buyers off the fairly strong support area.

Overall, it was good enough for me. I entered at the close of the retrace bar with a tight sl. http://cdn.forexfactory.com/images/s.../yim/happy.gif

Yesterday, GU was pretty ugly for trading.
  • #6,277
  • Mar 31, 2010 2:49am Mar 31, 2010 2:49am
Quoting tfflyer
Question for everyone on chart.

My answer is on chart, however, that bar shows too much demand still.

B,
Tom
Entry is immediately the ND bar closes. I think taking profits in any system/method is discretionary.

Well for me, and this is just me, I would have moved SL to BE when price reached the first obvious S/R or price pivot zone (what ever you wanna call it) if I wanted it to run. But if I didn't want more than a predefined amount of pips, then I'd just take it all off at the first S/R area. Like I said, having a plan before the trade and following it (also placing momentum into consideration as well because market is about price and time). No biggie.
  • #6,278
  • Mar 31, 2010 3:05am Mar 31, 2010 3:05am
Quoting wh1zz0
Entry is immediately the ND bar closes. I think taking profits in any system/method is discretionary.

Well for me, and this is just me, I would have moved SL to BE when price reached the first obvious S/R or price pivot zone (what ever you wanna call it) if I wanted it to run. But if I didn't want more than a predefined amount of pips, then I'd just take it all off at the first S/R area. Like I said, having a plan before the trade and following it (also placing momentum into consideration as well because market is about price and time). No biggie....

Couldn't agree more with your entry point. My personal preference for entry is after conformation of a ND but, we didn't get it. Thats why I entered on the retrace.

As for exits, I generally use VSA and S&R to enter a trade so I use VSA and S&R to exit a trade. I will let it run till I get indications of a reversal or range coming. If the exit indication isn't very clear, I will often move SL to an appropriate place and 'take a chance' on the last few pips.

Some of the more experienced guys (like Malcolmb for instance) are quite good at forecasting where the move will end. I am useless at this (lack of skills probably) so I dont try.
  • #6,279
  • Mar 31, 2010 3:08am Mar 31, 2010 3:08am
Quoting malcolmb14
that is a no supply ...

this top if it is one sure is messy

I am looking at the 4hour , the doji on high volume as a major sign of weakness
We cant see much of that chart but, is it a polar bear in Hawaii?
  • #6,280
  • Edited 3:59am Mar 31, 2010 3:33am | Edited 3:59am
ND bar on GU M15.. I'm short GU.. SL @ 1.51300..

And stopped out. Buyers in the background.
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