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1 minute momentum scalping

  • #181
  • Edited 12:58pm Aug 23, 2010 12:20pm | Edited 12:58pm
http://www.tradeguider.com/customer/...px?Submit=Back

Tom Williams, the fellow I've been mentioning says it himself. (in the second video)
  • #182
  • Aug 24, 2010 9:31am Aug 24, 2010 9:31am
The first chart (5m) shows what looked like SM buying the dips at the POC.

The next chart (daily) has the POC from today marked as a green line. It looks like we were sitting smack dab on top of support.

The third chart is my entry, by the logic that SM was buying at support, it seemed like a bargain.

The final chart shows my entry and exit. +72

I exited by watching ADR and RR. My SL was 35 and I entered with a market order.

Edit:

Forgot to mention, I went into this morning looking for signs of SM positioning themselves for Existing Home Sales, so this isn't an approach I would take just anytime. Also I only used 1 micro lot because this is a gamble because I am inexperienced with VSA.
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  • #183
  • Edited 9:05am Aug 25, 2010 8:37am | Edited 9:05am
AI 9:35 -6
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  • #184
  • Aug 26, 2010 4:18pm Aug 26, 2010 4:18pm
Quoting frankkn
Hey man

Hope you had a good weekend.

Yeah dude I'm a cleaning machine (never used to be) but recently I've found that when life is hectic, it's nice to have a clean place to come home to.

When there's absolutely no time to analyze charts, a great way to swing trade is to wait till the 3h (or 4h) trend turns to agree with the daily, and then take hourly inside bars with the trend....
Hey dude,
i had pc trouble all sorted now. Just love your post about VSA. I also thought the vol data was unreliable so have previously avoided this tool. But look at this current 1M chart you can see price is ranging after London close and there is no clear sign as to where it will go then from nowhere huge vol spike and a few mins later take off! There is a hammer with the vol but by itself the hammer is not a strong signal there because of the range and it's a 1m chart. The Williams analogy of a car accelerator works perfectly here - look at that chart and imagine someone redlining the Rev counter! Thanks a lot for the indis.

Gonna check out malcombs thread. Very very interesting mentioning vsa as a language and context being important to understanding the whole picture. One question though - does VSA apply on all time frames or are the signs more reliable on say 1h chart as opposed to a 5m chart???

If contemplating long term swing trading vsa is a must it will be another tools to give you the confidence to enter a trade then walk away from it for 2hrs or whatever. That takes balls!
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  • #185
  • Aug 26, 2010 4:27pm Aug 26, 2010 4:27pm
Quoting frankkn
The first chart (5m) shows what looked like SM buying the dips at the POC.

The next chart (daily) has the POC from today marked as a green line. It looks like we were sitting smack dab on top of support.

The third chart is my entry, by the logic that SM was buying at support, it seemed like a bargain.

The final chart shows my entry and exit. +72

I exited by watching ADR and RR. My SL was 35 and I entered with a market order.

Edit:

Forgot to mention, I went into this morning looking for signs of SM positioning themselves for Existing Home Sales,...
Congrats that's a great trade man using fundamental and technical support with a managed exit. Doesn't get much better than that.
  • #186
  • Aug 29, 2010 2:10pm Aug 29, 2010 2:10pm
I really think you're on to something with the VSA. I always used volume when I used to trade stocks and found it very useful. I have always heard that the volume indicators for forex weren't accurate so I never really looked at it. Can you explain how the better volume indicator works? I compared it to the standard “Volumes” indicator in MT4. The bar sizes are exactly the same but the better volume has all those different color bars and I don't know what they mean. There's also a maroon line running through the bars.
  • #187
  • Aug 30, 2010 10:48am Aug 30, 2010 10:48am
Quoting Max99
[font=Verdana][size=2]I really think you're on to something with the VSA....
Quote
I have always heard that the volume indicators for forex weren't accurate

Hey bud, the guy credited with VSA (Tom Williams) writes in Master the Markets that tick volume works just fine. I posted a link to a series of VSA videos, and in the second Mr. Williams mentions trading the pound, and in their seminars they cover forex.

Also over at malcombs thread you can see what some of these brilliant guys are doing with tick volume. I always thought that VSA wasn't applicable to forex until I saw people using it and asked them about it until I proved it to myself. I haven't posted my last couple trades that involved volume but I might soon if I have the time.

Quote
Can you explain how the better volume indicator works? I compared it to the standard “Volumes” indicator in MT4. The bar sizes are exactly the same but the better volume has all those different color bars and I don't know what they mean. There's also a maroon line running through the bars


http://www.forexfactory.com/showpost...&postcount=171

http://www.forexfactory.com/attachme...0&d=1242562173

Those are two links that might help with better volume. I am at a very simple stage in my VSA right now, I focus on supply/demand changes followed by tests of supply/demand, so I don't really have any comments on the colors.

After lots of trial and error and comparison with other traders, I've found that FXCM has by far the best free volume.
  • #188
  • Aug 30, 2010 10:55am Aug 30, 2010 10:55am
Quoting stevexyg
Hey dude,
Hey man

I'll try to get some stuff up soon.
Quote
does VSA apply on all time frames or are the signs more reliable on say 1h chart as opposed to a 5m chart???

The traditional answer is all time frames.

But in forex, I stick to the 1h down to 1m, they all tell the same story.

The most valuable thing in the videos I posted is the second video, it's very short and I watch it all the time. Tom lays out everything in like two minutes and everything else in the videos is just the repetition of those core points from guys who can't explain it as well as Tom.

It is hard to start thinking in terms of HLC instead of OHLC.
  • #189
  • Last Post: Aug 30, 2010 4:21pm Aug 30, 2010 4:21pm
Here is a series of screen shots I took of a trade from the other day.

My game plan going into the day was to wait for a rally to end in a buying climax and then show further signs of weakness. I wanted to get in under a No Demand bar, and got one but I felt like I had to wait so long I missed out on a lot of pips. I got 2x risk on this one, and exited because I saw stopping volume.
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