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  • #1,441
  • Apr 7, 2010 7:28am Apr 7, 2010 7:28am
Quoting Bodhistu
While I was pretending to work at my day job today, I did some research on VSA because it came up here on the thread. I found a good intro article on it and thought I would share it. It was pretty illuminating for me. Author is Todd Krueger. If interested, try googling the following:

Revealing the Hidden Secrets of Analyzing Volume in the FOREX Markets using Volume Spread Analysis

(I would post the link directly, but I am not sure if I can do that on FF. I don't want to tarnish my Junior Member status!)
VSA is about identifying and interpreting the bars (no demand, up-thrust, test, no supply, etc...) in the correct place (background) and using them as triggers.

This is a skill not easily mastered and no indicator will help. So IMHO not something for the dashboard.
  • #1,442
  • Apr 7, 2010 9:14am Apr 7, 2010 9:14am
Quoting Buildcity
I took the short as yours after the double top, nice 40p earned if you are clamed to stay. I'm not, an early leaver!! http://cdn.forexfactory.com/images/icons/icon8.gif
Buildcity,

Nice short on the EJ. A good measuring technique for TP on a confirmed double top is the height of the prior trend up. Double tops have a very good R:R ratio. Good job staying in the trade. As a follow up, you can also trade the bounce off support (usually for an additional 10 pips minimum).
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  • #1,443
  • Apr 7, 2010 1:20pm Apr 7, 2010 1:20pm
Quoting stratman
I am looking at alternatives for those that can't use paypal
I wish you add this soon.
It must come from a need!
  • #1,444
  • Apr 7, 2010 3:48pm Apr 7, 2010 3:48pm
If you followed the videos, you would have made serious pips on EJ during this session.

I made 136 in one single trade. I could have made more if I exited earlier and re-entered at each opportunity (yellow lines)

EDIT: prior to this I had already 'locked in' my 40 pip target for the day so 176 for the day

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and here's the live account (for any skeptics )

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Quoting stratman
Here's my next opportunity

If you have been following my videos ... you know what to do

Attachment

EDIT: EJ M15
  • #1,445
  • Apr 7, 2010 4:52pm Apr 7, 2010 4:52pm
can anyone give me a post mortum on this trade I took today. Thought I had followed rules and had a good setup. It went against me, then eventually ran south. I entered (sold) on the 2nd candle past the trendline break, at 93.67.

Was this a good trade? Any hints why not. Thanks.

Sorry, don't know how to post image from my screen. I saved it in Word doc, attached.
Attached File(s)
File Type: doc UJ4710.doc   176 KB | 468 downloads
Follow the money --Mark Felt (Deepthroat)
  • #1,446
  • Apr 7, 2010 5:29pm Apr 7, 2010 5:29pm
You did not indicate where you entered but I assume you went long near the end of the downtrend leg.
Assuming above is what you did, you entered a counter trend trade with a fake-out going up . The trend looks to be continuing to go down where you closed your long position.
Confusing perhaps but hope this helps
  • #1,447
  • Apr 7, 2010 6:04pm Apr 7, 2010 6:04pm
Thanks for reply deano. I actually entered short, not long, at the 2nd red candle after the trendline break up at the top left of the screen. The trendline I drew is red, upper left. I guess this was a fake-out as you say as the rest of the day it went all downhill.

If there was a better entry please let me know. Perhaps it was too close to Wall St. open?
Follow the money --Mark Felt (Deepthroat)
  • #1,448
  • Apr 7, 2010 6:10pm Apr 7, 2010 6:10pm
so, the bummer for me is that there are 5 other trendline breaks on this day, further down the MA, with almost zero retracement.

I'm trying to discover why I got into the only area of the day that retraced against the downtrend.

Other than the fact that they're all out to get me.
Follow the money --Mark Felt (Deepthroat)
  • #1,449
  • Apr 7, 2010 6:22pm Apr 7, 2010 6:22pm
With a 60 MA and a 10 MA entered a trade based on MA and trendline channel in a 1 hr chart.
Every indicator and trend channels point to continuation of down trend.
Have set a 20 pip SL and a 30 pip TP
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  • #1,450
  • Apr 7, 2010 7:22pm Apr 7, 2010 7:22pm
Quoting longfellow
so, the bummer for me is that there are 5 other trendline breaks on this day, further down the MA, with almost zero retracement.

I'm trying to discover why I got into the only area of the day that retraced against the downtrend.

Other than the fact that they're all out to get me.
longfellow, I don't think it was that bad of a trade, after all you got the direction right. Looking at the chart though, you ended up trading right into a 38.2 fib retracement and a minor support area.

I think it is good you are analyzing your losing trades though.
  • #1,451
  • Apr 7, 2010 11:28pm Apr 7, 2010 11:28pm
Quoting longfellow
can anyone give me a post mortum on this trade I took today. Thought I had followed rules and had a good setup. It went against me, then eventually ran south. I entered (sold) on the 2nd candle past the trendline break, at 93.67.

Was this a good trade? Any hints why not. Thanks.

Sorry, don't know how to post image from my screen. I saved it in Word doc, attached.
The arrows are the valid entries. You could have entered 3 times here. The stop would be on the top of the previous M5 candle. First trade and second trade would have been stopped out for a total of 12 pips loss.

The third trade would have made you more than your combined loss and given you profit as well.

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  • #1,452
  • Apr 7, 2010 11:35pm Apr 7, 2010 11:35pm
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  • #1,453
  • Apr 7, 2010 11:36pm Apr 7, 2010 11:36pm
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  • #1,454
  • Apr 7, 2010 11:38pm Apr 7, 2010 11:38pm
Yellow
Solid: Previous week High/Low
Dashed: Weekly Pivot

White
Solid: Previous Day High/Low
Dashed: Daily Pivot
  • #1,455
  • Apr 7, 2010 11:41pm Apr 7, 2010 11:41pm
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  • #1,456
  • Apr 7, 2010 11:42pm Apr 7, 2010 11:42pm
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  • #1,457
  • Apr 7, 2010 11:44pm Apr 7, 2010 11:44pm
Note that I concentrate on two currencies mainly ie GU and EJ ... occasionally look at EU but mostly trade GU/EJ
  • #1,458
  • Apr 8, 2010 12:05am Apr 8, 2010 12:05am
Hi Strat,

Just a quick question, both pairs above do have bigger daily range (& less spread) so that you concentrate on these pairs?

City

Quoting stratman
Note that I concentrate on two currencies mainly ie GU and EJ ... occasionally look at EU but mostly trade GU/EJ
  • #1,459
  • Apr 8, 2010 12:39am Apr 8, 2010 12:39am
Partly.

EJ is good for me because I trade asia and part of London ... so a symbol that combines the two is good ie JPY and EUR. I would trade GY if I was courageous enough

GU is good for me too as it's a good mover during my favorite trading time of 4 hrs around london ie 6 am to 10 am London

Quoting Buildcity
Hi Strat,

Just a quick question, both pairs above do have bigger daily range (& less spread) so that you concentrate on these pairs?

City
  • #1,460
  • Apr 8, 2010 12:51am Apr 8, 2010 12:51am
hi stratman, can i ask what kindof hit rate and R:R you are getting with the wma method trading ej and gu?
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