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vsa with Malcolm

  • #3,521
  • Sep 7, 2010 9:27pm Sep 7, 2010 9:27pm
Quoting Petar_Serbia
Hello guys i took just one position this Asia session that is EURJPY buy i will go for 40 pips becouse i dont expext much from EUR..I expext EURJPY to retrace from TL and to back down...

Cheers


Petar

Hi Petar,

How do you determine where to put those Pink Rectangles ?

Assuming those rectangles are drawn by you, and is not an indicator.

Cheers,
FB.
  • #3,522
  • Sep 7, 2010 11:10pm Sep 7, 2010 11:10pm
Intel , How is FXCM volume compared to IBFX?
  • #3,523
  • Sep 8, 2010 12:55am Sep 8, 2010 12:55am
Back from the extended long weekend and wow did I miss some major moves, Its always on my holidays lol.
  • #3,524
  • Sep 8, 2010 1:43am Sep 8, 2010 1:43am
Don't know what I was thinking yesterday. Went through the charts and I was clearly wrong... Should have stuck around longer. Malcolm's entry was excellent.

Right, let's see what happens today. EU is ping ponging between up and down bars on 15 mins. Not touching that.

GU show some supply coming in with almost triple upthrust type bars at resistance but isn't dropping yet, so no reason to short yet. Higher volume at resistance, so it's possible that it will be overcome.
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  • #3,525
  • Sep 8, 2010 2:24am Sep 8, 2010 2:24am
Short 1.5480


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Mind over matter..I don't mind and you don't matter.
  • #3,526
  • Sep 8, 2010 2:32am Sep 8, 2010 2:32am
Long 0.8220


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Mind over matter..I don't mind and you don't matter.
  • #3,527
  • Sep 8, 2010 2:46am Sep 8, 2010 2:46am
I'm posting mistakes rather than successful trades because I can learn more of those
Yesterday evening I was about to sell into a classic ND situation but something stopped me - although it would've been a good decision in hindsight.

See attached image. There were multiple ND bars, but not enough weakness in the background for me to justify the sell.
Price was trying to get back into the delta zone (am I correct HG?) and just beneath it vol dried out - a sell under the break of low of ND would've been a good entry with low risk. However, then there were multiple down bars with even decreasing volume - no selling pressure?

My arguments were:
Pro: weakness appearing on up bars + multiple ND demand bars under delta zone
Con: Tokyo didn't open yet (vol might've dried out b/c of that), multiple down bars on decr vol, not enough weakness in background.

My question is: would you have sold at that point or was it too risky given the circumstances?

Thanks
hsa
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  • #3,528
  • Sep 8, 2010 4:09am Sep 8, 2010 4:09am
Quoting cosmoras
Intel , How is FXCM volume compared to IBFX?
I'm not really sure. From some of the comments on this thread tho, IBFX is generally ok but has been experiencing a few problems of late.
  • #3,529
  • Sep 8, 2010 4:28am Sep 8, 2010 4:28am
Quoting Intel
I'm not really sure. From some of the comments on this thread tho, IBFX is generally ok but has been experiencing a few problems of late.
Try fxpro live. Every chart that Malcb has posted that I have compared his to fxpro its been very close.
  • #3,530
  • Sep 8, 2010 4:32am Sep 8, 2010 4:32am
Quoting foxybunny
Hi Petar,

How do you determine where to put those Pink Rectangles ?

Assuming those rectangles are drawn by you, and is not an indicator.

Cheers,
FB.
That isnt indicator foxybunny,

I drwa manualy in trade i took in Asia i tried risky setup with triangle not clasic but i tried its ok wait another opotunity

Cheers

Petar
"Buy on fear, sell on greed !!!
  • #3,531
  • Sep 8, 2010 4:43am Sep 8, 2010 4:43am
Quoting hsa013
I'm posting mistakes rather than successful trades because I can learn more of those
Yesterday evening I was about to sell into a classic ND situation but something stopped me - although it would've been a good decision in hindsight.

See attached image. There were multiple ND bars, but not enough weakness in the background for me to justify the sell.
Price was trying to get back into the delta zone (am I correct HG?) and just beneath it vol dried out - a sell under the break of low of ND would've been a good entry with low risk. However, then...
Thanks for the post hsa.

This is my view on your chart. I do have a bit to say about the trades here but I will say nothing yet so people have a chance to give answers to the question I asked on the chart.
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  • #3,532
  • Sep 8, 2010 4:49am Sep 8, 2010 4:49am
Looks like you had a relevant entry third bar from the touch of the purple area with rising volume, so could have gotten in sooner. I agree, volume was generally low. Given that the bigger move had already done its ADR (possibly), I agree with your target price for quick profits. Was the risk reward worth it though?



Quoting hsa013
I'm posting mistakes rather than successful trades because I can learn more of those
Yesterday evening I was about to sell into a classic ND situation but something stopped me - although it would've been a good decision in hindsight.

See attached image. There were multiple ND bars, but not enough weakness in the background for me to justify the sell.
Price was trying to get back into the delta zone (am I correct HG?) and just beneath it vol dried out - a sell under the break of low of ND would've been a good entry with low risk. However, then...
  • #3,533
  • Sep 8, 2010 4:53am Sep 8, 2010 4:53am
GU M15
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  • #3,534
  • Sep 8, 2010 4:58am Sep 8, 2010 4:58am
Quoting Intel
Thanks for the post hsa.

This is my view on your chart. I do have a bit to say about the trades here but I will say nothing yet so people have a chance to give answers to the question I asked on the chart.
Intel, that's not No Supply. It's a test and it is a clear sign to get long. There is strength in the background.

Notice all the down bars on lower volume prior to Hsa's entry. These show no desire for lower prices. Nevertheless price drifts lower, but you should be predisposed to looking for longs at this point.
Without VSA, you're playing checkers while the Smart Money plays chess.
  • #3,535
  • Sep 8, 2010 5:26am Sep 8, 2010 5:26am
Quoting HiddenGap
Intel, that's not No Supply. It's a test and it is a clear sign to get long. There is strength in the background.

Notice all the down bars on lower volume prior to Hsa's entry. These show no desire for lower prices. Nevertheless price drifts lower, but you should be predisposed to looking for longs at this point.
LOL

When I asked the question, it wasn't meant for the gurus.

Never mind, there are other reasons for not shorting it, anyone else???
  • #3,536
  • Sep 8, 2010 5:26am Sep 8, 2010 5:26am
Quoting HiddenGap
Intel, that's not No Supply. It's a test and it is a clear sign to get long. There is strength in the background.

Notice all the down bars on lower volume prior to Hsa's entry. These show no desire for lower prices. Nevertheless price drifts lower, but you should be predisposed to looking for longs at this point.

Many thanks for your response Intel and HG.
Generally what I thought was in line with your comments. Too much strength entered in the background - although volumes are tricky right before TO - I thought no selling pressure, better not to sell.
Turns out this mistake wasn't a mistake after all!
  • #3,537
  • Sep 8, 2010 5:27am Sep 8, 2010 5:27am
Quoting Intel
Thanks for the post hsa.

This is my view on your chart. I do have a bit to say about the trades here but I will say nothing yet so people have a chance to give answers to the question I asked on the chart.

Hi Intel,

3 bars before you bar with the question "Would we short".
That 3 bars before is a Down Wide Bar with Close on its Low, and High Volume, looks like an "Effort to Fall".
And the "Effort to Fall" low is near the low of the previous swing showing possible near bottom.
The next 2 bars after "Effort to Fall" were Up Bars, this showed "Effort to Fall" failed, giving Strength in background.
Better to look for Long than Short, since there is Strength in Background.

Like your Q&A.
Hope by answering will help to understand VSA better.

Cheers,
FB.
  • #3,538
  • Sep 8, 2010 5:30am Sep 8, 2010 5:30am
Quoting Porkpie
Looks like you had a relevant entry third bar from the touch of the purple area with rising volume, so could have gotten in sooner. I agree, volume was generally low. Given that the bigger move had already done its ADR (possibly), I agree with your target price for quick profits. Was the risk reward worth it though?
Porkpie,
Thanks for your comment too.
The R/R was worth it in my view. I'm not yet an expert who can foresee 50-100pip moves so 1/1 is fine with me. I generally go for 20-30 pips.
Obviously I'd like to improve on this 1/1 but it's still better than 2/1 I used to have
  • #3,539
  • Sep 8, 2010 5:45am Sep 8, 2010 5:45am
Quoting hsa013
Porkpie,
Thanks for your comment too.
The R/R was worth it in my view. I'm not yet an expert who can foresee 50-100pip moves so 1/1 is fine with me. I generally go for 20-30 pips.
Obviously I'd like to improve on this 1/1 but it's still better than 2/1 I used to have
Would it surprise you all to know that, when I place a trade I have no clue as to what my R:R is? Further more, I don't care either!!!!

Thats one of the many reasons that VSA rocks!!!
  • #3,540
  • Sep 8, 2010 5:47am Sep 8, 2010 5:47am
Quoting Petar_Serbia
That isnt indicator foxybunny,

I drwa manualy in trade i took in Asia i tried risky setup with triangle not clasic but i tried its ok wait another opotunity

Cheers

Petar
Hi Petar,

I mean Why did you manually draw those Pink rectangles in those areas ??

How do you decide where to draw your rectangles?

Cheers,
FB.
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