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vsa with Malcolm

  • #1,901
  • Aug 4, 2010 6:45pm Aug 4, 2010 6:45pm
Talking about profit

OK I will let one of my BIGGEST secrets out of the bag

Never really understood why , but every fx pair , futres or stock moves in certain increments

For es it is 5 point blocks , gu 30 pip blocks and eu 30 pip blocks.

Set up mml so your average days range is divided into 3 and play between them using them as ' battle line'

it sao happens that todays mml were in 30 pip octaves and provided very nice s/r launch zone for trades using a combo 30 pip blocks / vsa and mml

I will try and elaborate on this tomorrow as US market progresses.

I think that fx is somewhat limited to what it can do in a day by world banks etc .....so days range will always be about 120 to 140 pip

This is why I sometime may take 25 pip profit and wait for next trade , specially in a sideways market , 2 trades x 25 pip better than one trade of -25 lol

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Quoting malcolmb14
1st what is profit .. if I ever get any I will let you know about it ...lol

2nd stops

stops are something that are a tough one. One thing I really like about TG is that they have a tool built into the software that acts much like a chandelier stop. It is awesome and has helped me a lot. However for those without TG I have attached a chandelier stop for mt4

setting atr is 21 (the smaller the atr seting you use the tighter the stop will be) , it shows initial stop and how to trail your stop and keep you in the trade for as long as possible ,...
Blogging daily now at www.volume.zone
  • #1,902
  • Aug 4, 2010 6:50pm Aug 4, 2010 6:50pm
Quoting malcolmb14
Talking about profit

OK I will let one of my BIGGEST secrets out of the bag

Never really understood why , but every fx pair , futres or stock moves in certain increments

For es it is 5 point blocks , gu 30 pip blocks and eu 30 pip blocks.

Set up mml so your average days range is divided into 3 and play between them using them as ' battle line'

it sao happens that todays mml were in 30 pip octaves and provided very nice s/r launch zone for trades using a combo 30 pip blocks / vsa and mml

I will try and elaborate on this...
Can you share your eSignal indicators including Volume Profiler, please?
  • #1,903
  • Aug 4, 2010 6:51pm Aug 4, 2010 6:51pm
eu from a few days back ... note the '30 pip blocks'

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Blogging daily now at www.volume.zone
  • #1,904
  • Aug 4, 2010 11:13pm Aug 4, 2010 11:13pm
Quoting snyking
Can you share your eSignal indicators including Volume Profiler, please?

better volume indie i have posted before

volume profiler you have to buy form s.r analyst .com ... it is linked to my e signal user name
Blogging daily now at www.volume.zone
  • #1,905
  • Aug 4, 2010 11:15pm Aug 4, 2010 11:15pm
looking to see if this no demand on es daily plays out into the end of this week.

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Blogging daily now at www.volume.zone
  • #1,906
  • Aug 5, 2010 1:06am Aug 5, 2010 1:06am
Thanks for the explaination, Malcolm. I've been wondering why MML works so well as s/r, now it makes a little more sense.
  • #1,907
  • Edited 1:39am Aug 5, 2010 1:17am | Edited 1:39am
Quoting malcolmb14
1st what is profit .. if I ever get any I will let you know about it...
I have a question about this if I could Malcolm.

Given that trading with VSA helps us to see turning points and tops and bottoms, unlike any other trading practice, wouldn't you exit based on price action and volume telling you you have a valid trade in the opposite direction?

If it's a very strong signal, you close your position and open a fresh one in the opposite direction. If it's weak, you may just use it to close your position and keep watching for a clearer signal to enter.

I'm pretty new to VSA so am just interested in why this wouldn't work as a concept.....
  • #1,908
  • Aug 5, 2010 1:31am Aug 5, 2010 1:31am
GM all - some interesting posts over the last 24 hours.

As all regulars should know by now, I use the 30 EMA - and yes, a Hull works too - as my main filter arouind which I watch Price Action and make my trades.

I also use it to set my trailing stops. As I have the 30EMA on all of the TFs that I watch, that allows me to adjust the aggressiveness of my stop depending on which TF I use.

For comparison, I've added the Chandelier Stop indy that Malcolmb has just posted.

As the AllAverages doesnt have an alert, I use the Price Crosses MA which is nice and flexible - its attached.

FYI, I too was long into FO after a Higher Low. After the low 5m vol Lower High I reversed to short and banked a few more pips...http://cdn.forexfactory.com/images/icons/icon12.gif
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Attached File(s)
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Trading Levels with WRBs
  • #1,909
  • Aug 5, 2010 1:50am Aug 5, 2010 1:50am
Quoting malcolmb14
better volume indie i have posted before

volume profiler you have to buy form s.r analyst .com ... it is linked to my e signal user name
I see. I know them. I bought some indicators from them before.
  • #1,910
  • Aug 5, 2010 2:39am Aug 5, 2010 2:39am
In my last post yesterday I said that I was long cable with a TP just under the R1 level at 5990. Price actually stalled ~ the MR1 level of 5959, so I exited half and left the remainder which was later taken out by my trailing stop.

Daily Pivots are one of the oldest dynamic methods for calculating potential support and resistance. Floor Traders were using them long before computers were available and they are still widely used. Mine are calculated at 5pm EST.

This morning, we see the MS1 area acting as support before FO - I bought.

4 candles before FO the red bar in the Better Vol indy showed a "buying climax" just above the 5900 level and I took my profit.

After FO there was a small low vol green candle that made a Lower High and I sold the break of the 5900 level.

Price dropped, making new lows until it stalled at the S1 level with the large white BV bar showing a Selling Climax - a good place to take profit and look for the next trade - especially before the London Open.....
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Trading Levels with WRBs
  • #1,911
  • Aug 5, 2010 3:49am Aug 5, 2010 3:49am
Thanks, Islander - very interesting read. I'll work through your and Medici's thread when I get around to it. I didn't trade the short. I thought it might come back and test the bottom of the Asian session range, but of course it didn't.
I wouldn't have gone long in Frankfurt without a clear break of the daily pivot which I have at 5902.

Looking at the hourly, volumes generally are really low. I know it's holiday season, but I wonder too whether traders are keeping their powder dry ahead of the BofE announcement and then NFP. This morning's short move was on piddling volume in terms of the size of the bar.
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  • #1,912
  • Aug 5, 2010 3:56am Aug 5, 2010 3:56am
This where I bring in J16 into the picture.

I usually enter each trade with 3 units. I close the first unit at the First Trouble Area (FTA), I close the second unit at a mental TP, and I trail/let the last unit ride UNTIL IT TAKES ME OUT.
  • #1,913
  • Edited 4:00am Aug 5, 2010 3:57am | Edited 4:00am
Quoting HiddenGap
Funny how things work sometimes. I got a couple of questions by pm and I found this chart example that answers both questions.

Question 1a: Why aren't we shorting the close of the No Demand?

Answer: Take a look at the chart. Ignore the fact that the No Demand is on the wrong side of the DBPL for now. Many times after a No Demand we will see either a Trap Up Move or an Up Thrust. Either of these types of bars/candles put immediate pressure on you and can get you stopped out prematurely. Therefore, it is recommended to place an order...
Hi HG,

I normally let vsa tell me where to put a SL, as in your sl no. 1. Ask yourself this, in trades that worked and AFTER you entered, how many times does price move lower than the SO or UT?(ALMOST NEVER I BET) In the trades that you were stopped out, how many times did the price break the SO or UT and then move back in your direction REASONABLY QUICKLY?(ALMOST NEVER I BET) If we look at the various vsa setups, there is normally a bar which you can say with confidence that

'If I have read this setup correctly, price will not move beyond (in the opposite direction) that bar there'

THAT is where to put your sl in my opinion. It doesn't matter how far away it is.....50 pips or 5 pips.

2 or 3 pips above/below the turning point from which you're trading. This might be a SO or UT or maybe a trap move but, it's always at a point where, if I have chosen the correct time for entry, the price will not break beyond the SL.

If I find that my SL is positioned on the chart(price wise) no where near the top or bottom of a bar, then I have been wishfull thinking a bit and might not take the trade.

As you say tho, it's very much a personal thing.
  • #1,914
  • Aug 5, 2010 5:21am Aug 5, 2010 5:21am
Quoting Trotty
I have a question about this if I could Malcolm.

Given that trading with VSA helps us to see turning points and tops and bottoms, unlike any other trading practice, wouldn't you exit based on price action and volume telling you you have a valid trade in the opposite direction?

If it's a very strong signal, you close your position and open a fresh one in the opposite direction. If it's weak, you may just use it to close your position and keep watching for a clearer signal to enter.

I'm pretty new to VSA so am just interested in why this wouldn't...
This question was posted for mal, but I will put my 2 pips in. Once you have your basic exit plan, then you also need to consider those time when you see High volume signs or other VSA signs.

I do not recommend always being in the market, so I would not say be short until you see high volume down bars with the next bar up followed by a test and then change to a long position. But if you are short and you suddenly see an ultra high volume down bar that closes in the upper portion of its range, you should be looking to lower your stop if not exit your short.

Nice pick up by the way.
Without VSA, you're playing checkers while the Smart Money plays chess.
  • #1,915
  • Aug 5, 2010 6:30am Aug 5, 2010 6:30am
Quoting HiddenGap
We have talked about Tom's exit strategy in the previous thread. Basically he would look to get out after 2 or 3 consecutive up closes (if short). I think 3 works a bit better than 2.
... And that's another good one to be put into consideration in addition to any other. Bar counting.
  • #1,916
  • Aug 5, 2010 7:18am Aug 5, 2010 7:18am
VSA principles have worked extremely well today..
  • #1,917
  • Aug 5, 2010 8:09am Aug 5, 2010 8:09am
major weakness 15 min gu in a sell 1.5900 stop 25 pip

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Blogging daily now at www.volume.zone
  • #1,918
  • Aug 5, 2010 8:20am Aug 5, 2010 8:20am
es down move a surprise this morning ? no not really .. noticed the no demand bar yesterday , sold yesterdays high 1124.25

target 1115 to 1110

Quoting malcolmb14
looking to see if this no demand on es daily plays out into the end of this week.

Attachment
Blogging daily now at www.volume.zone
  • #1,919
  • Aug 5, 2010 8:42am Aug 5, 2010 8:42am
Quoting malcolmb14
major weakness 15 min gu in a sell 1.5900 stop 25 pip

Attachment
Missed the entry....Watching other timeframes/pairs.

Possible no demand setting up waiting to short low of bar!
  • #1,920
  • Aug 5, 2010 8:44am Aug 5, 2010 8:44am
Quoting malcolmb14
major weakness 15 min gu in a sell 1.5900 stop 25 pip

Attachment

I took the EU sell rather, as it looked better immediately after the news, buying climax, KRB. Made alot of sense. I took my sell at 1.3215 and was just about posting that..LOL
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