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vsa with Malcolm

  • #3,561
  • Sep 8, 2010 8:50am Sep 8, 2010 8:50am
Half off at 1:1, stop to BE.
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  • #3,562
  • Sep 8, 2010 9:17am Sep 8, 2010 9:17am
Quoting frankkn
Here's EU 15m, does this look like profit taking or real selling? There's climactic action, no demand, and an high volume upthrust

I would say that is profit taking, looking at the background we are in a uptrend on the smaller timeframes with major support and buying evident on the hourly chart. I cannot take a sell right now.
  • #3,563
  • Sep 8, 2010 9:26am Sep 8, 2010 9:26am
Quoting Sonofsin5
I would say that is profit taking, looking at the background we are in a uptrend on the smaller timeframes with major support and buying evident on the hourly chart. I cannot take a sell right now.
very strong bottom on eu 60 min. I agree this is not designed for some 50 pip move. My target is 2900

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Blogging daily now at www.volume.zone
  • #3,564
  • Sep 8, 2010 11:15am Sep 8, 2010 11:15am
very low vol day so far on dxd ....

I will review all indexes at end of day here but so far dxd only1.25 million unit and av is 6 mil
Blogging daily now at www.volume.zone
  • #3,565
  • Sep 8, 2010 11:24am Sep 8, 2010 11:24am
Quoting malcolmb14
very low vol day so far on dxd ....

I will review all indexes at end of day here but so far dxd only1.25 million unit and av is 6 mil
DXD is short, wouldn't that imply going higher on DOW?
  • #3,566
  • Sep 8, 2010 11:32am Sep 8, 2010 11:32am
Quoting trade2live
DXD is short, wouldn't that imply going higher on DOW?

DXD is short financials... low volume on a down day means DOW would go down on high volume

edit: seems dow and s&p are nears yesterdays volume mark... would need to close under the open to validate this.
  • #3,567
  • Sep 8, 2010 12:13pm Sep 8, 2010 12:13pm
Quoting tonirai
(...)
I'll tell you one thing, my trading sucks big time lately... and it might be also related to what you were saying:
I used to trade for small gains of 5 to 20 pips, and had an 80% to 90% hit rate;
It's curious to note that it's when I started to try to adapt an go for a R:R of 1:1 to 1:3, that my success started to drop drastically - I might not be cut off for that kind of trades.
As I was saying, problems in my trading began when I tried to go for higher profits and higher R:R;
I'm beginning to understand that I'm simply not cut off for that kind of trading... :
- I don't like it when I need a higher than 20 to 25 pips SL (and not patient enough to wait for a better entry);
- I tend to move SL to BE too early (and then getting stopped), not giving time for the trade to develop and go to the higher target;
- I have a hard time letting profits go (tend to close too early).

In a day like today, I had 1 loss, and 2 BE which were positive by 20 to 25 pips each, before retracing to the moved SL;

After the thoughts quoted, started to do it as I used to do, going for small gains and high probability scalps... well, I made 7 consecutive positive scalps of +5 pips in average, offsetting the previous loss. This is what I used to do well.
If I had closed the 2 trades that reversed on me (even if sooner than the 20 to 25 pips they achieved before reversing), it would have been what I call a great day.

It's clear it's what I do best.
So I will return to the high probability scalps in general, only going for 20 to 25 pips around the fast movement times (London and NY openings).

All this to say:
Find what suits you best, what you're more comfortable doing, and what works better for you... and stick to it.
Some will swing, some will trend, some will scalp - you can use VSA to help you in all of those styles.
No need to change if it's working for you
  • #3,568
  • Sep 8, 2010 12:46pm Sep 8, 2010 12:46pm
Took sell cable we will see.I see Large volume on TL also very clear down on H1 and on M30..WE will see...

Cheers

Petar
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"Buy on fear, sell on greed !!!
  • #3,569
  • Sep 8, 2010 12:56pm Sep 8, 2010 12:56pm
Quoting tonirai
As I was saying, problems in my trading began when I tried to go for higher profits and higher R:R;
I'm beginning to understand that I'm simply not cut off for that kind of trading... :
- I don't like it when I need a higher than 20 to 25 pips SL (and not patient enough to wait for a better entry);
- I tend to move SL to BE too early (and then getting stopped), not giving time for the trade to develop and go to the higher target;
- I have a hard time letting profits go (tend to close too early).

In a day like today, I had 1 loss, and 2 BE which...

Great post mate. You should only ever trade what your happy with, no matter how big or small the trades.

And I gotta tell ya, MM is they key to making money not neccesarily how many pips you make.

Good luck
  • #3,570
  • Sep 8, 2010 4:32pm Sep 8, 2010 4:32pm
where is all the liquidity today? This is crazy.
  • #3,571
  • Sep 8, 2010 4:40pm Sep 8, 2010 4:40pm
I went long on EU 5m today but failed I waited for a no supply after the breakout of the daily pivot to enter. Then it went a bit more down showing no supply in the market, but the up bars were also low volume showing no demand. I guess the professionals just weren't interested in EU.

Was it a bad enter though, after the breakout? And where should I have exited? I closed after prices went below the red line.
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  • #3,572
  • Sep 8, 2010 5:07pm Sep 8, 2010 5:07pm
Quoting Jasus
I went long on EU 5m today but failed I waited for a no supply after the breakout of the daily pivot to enter. Then it went a bit more down showing no supply in the market, but the up bars were also low volume showing no demand. I guess the professionals just weren't interested in EU.

Was it a bad enter though, after the breakout? And where should I have exited? I closed after prices went below the red line.
cannot put my finger on it ... but got an odd feeling market waiting for something and down move on US indexes may be forming off 1100 es back into 1040

up move into 1.2760 today on eu sold into
also gu sold into off 1.5500

dxd volume dried right up

almost like this is middle of summer , not start of sept.
Blogging daily now at www.volume.zone
  • #3,573
  • Sep 8, 2010 5:57pm Sep 8, 2010 5:57pm
I know this is ludicrus, but I have a little E/A I made and it is being tested on a live account. It has 24 winners in a row and hasn't lost a trade yet. To make it to 25 wins the E/U must go to .2772 before it hits .2702 which is the stoploss, so we shall see. It was born from my Autistic Sons 184 I.Q. and his knowledge of short patterns. He came up with this way to trade and I kinda shrugged him off and let it sit for months until he begged me to try it. I started trading it manually to appease him and for the last 6 months it has a whopping 12 to 1 win to loss ratio. I have since been tinkering it together as an E/A and fired it up last Thursday evening and it has reeled off 24 winners in a row. It is a 10 pip T/P grabber every 6 hours or so. S I am betting on a move North here soon...LOL Stay tuned.

Jim

Quoting malcolmb14
cannot put my finger on it ... but got an odd feeling market waiting for something and down move on US indexes may be forming off 1100 es back into 1040

up move into 1.2760 today on eu sold into
also gu sold into off 1.5500

dxd volume dried right up

almost like this is middle of summer , not start of sept.
  • #3,574
  • Sep 8, 2010 6:03pm Sep 8, 2010 6:03pm
Quoting Petar_Serbia
Took sell cable we will see.I see Large volume on TL also very clear down on H1 and on M30..WE will see...

Cheers

Petar
hi Petar
I think last night you grabed some pips on EY long also

Here above red line is on top of last upmove is your stop loss?
  • #3,575
  • Sep 8, 2010 6:06pm Sep 8, 2010 6:06pm
Quoting wajid
hi Petar
I think last night you grabed some pips on EY long also

Here above red line is on top of last upmove is your stop loss?
Hello wijid my friend,yea that is my Sl i have two positions on cable also on eurjpy sell we will see...Dont froget to use good MM i risk always just 1 % per pair i trade...

Cheers

Petar
"Buy on fear, sell on greed !!!
  • #3,576
  • Sep 8, 2010 6:16pm Sep 8, 2010 6:16pm
Quoting Nene
I know this is ludicrus, but I have a little E/A I made and it is being tested on a live account. It has 24 winners in a row and hasn't lost a trade yet. To make it to 25 wins the E/U must go to .2772 before it hits .2702 which is the stoploss, so we shall see. It was born from my Autistic Sons 184 I.Q. and his knowledge of short patterns. He came up with this way to trade and I kinda shrugged him off and let it sit for months until he begged me to try it. I started trading it manually to appease him and for the last 6 months it has a whopping 12...
nice jim ,,,, very cool ...

holy crap 184 iq,,,
Blogging daily now at www.volume.zone
  • #3,577
  • Sep 8, 2010 6:17pm Sep 8, 2010 6:17pm
This is my eurjpy trade,looks very good we will see i have 2 positions one i go for 100 pips second TP open..WE will see till end of Week ...

Cheers


Petar
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"Buy on fear, sell on greed !!!
  • #3,578
  • Sep 8, 2010 6:21pm Sep 8, 2010 6:21pm
Quoting Petar_Serbia
This is my eurjpy trade,looks very good we will see i have 2 positions one i go for 100 pips second TP open..WE will see till end of Week ...

Cheers


Petar
P.

If ej break 107.10 get out ... other than that looks like effort to rise on 60 min got sold into at 107 area ..

good luck
Blogging daily now at www.volume.zone
  • #3,579
  • Sep 8, 2010 6:26pm Sep 8, 2010 6:26pm
Quoting malcolmb14
P.

If ej break 107.10 get out ... other than that looks like effort to rise on 60 min got sold into at 107 area ..

good luck
Thanks malc we will see how will market decide
"Buy on fear, sell on greed !!!
  • #3,580
  • Sep 8, 2010 6:32pm Sep 8, 2010 6:32pm
Quoting Petar_Serbia
This is my eurjpy trade,looks very good we will see i have 2 positions one i go for 100 pips second TP open..WE will see till end of Week ...

Cheers


Petar
I am also bearish on GU but I have no idea about Ey but now i will start waching EY also and I am sure you will help me.
Petar do u have Yahoo messenger? I want online chat.
Regards.
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