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vsa with Malcolm

  • #3,941
  • Sep 15, 2010 5:28am Sep 15, 2010 5:28am
GJ M5

Possible 2nd chance entry.
  • #3,942
  • Sep 15, 2010 5:31am Sep 15, 2010 5:31am
Hello guys,

Yesterday iu took sell on eurjpy but news is news and this time news cut my target,you can see clear on picture >

Now i have also cable sell on buying climax on strong RES..WE will see...


Cheers

Petar
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"Buy on fear, sell on greed !!!
  • #3,943
  • Sep 15, 2010 5:33am Sep 15, 2010 5:33am
Quoting Intel
GJ M5

Possible 2nd chance entry.

I can see nothing.
  • #3,944
  • Sep 15, 2010 5:37am Sep 15, 2010 5:37am
Quoting xman
I can see nothing.
I'm having trouble with charts at the mo.

There's a ND 3 bars back.

ND in a down move = entry/add on chance.
  • #3,945
  • Sep 15, 2010 6:10am Sep 15, 2010 6:10am
Quoting Intel
I'm having trouble with charts at the mo.

There's a ND 3 bars back.

ND in a down move = entry/add on chance.
Got done by the news. My own fault should have been aware of up coming news.

Stopped out at +38
  • #3,946
  • Sep 15, 2010 6:10am Sep 15, 2010 6:10am
GU has been bashing resistance at around 1.5525. So far on lower volume. There is also an ascending triangle formation if that means anything. I went long right at the top (sleeping earlier), but still holding. Waiting for US session.
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  • #3,947
  • Sep 15, 2010 6:17am Sep 15, 2010 6:17am
Quoting comapip
GU has been bashing resistance at around 1.5525. So far on lower volume. There is also an ascending triangle formation if that means anything. I went long right at the top (sleeping earlier), but still holding. Waiting for US session.
Manage your trade as you wish but, If you've made a mistake (like going long at the top) then accept it and GET OUT.

Do not compound the mistake by letting it run into an even bigger mistake.

Letting bad trades run is probably the biggest contributing factor to traders becoming losing traders.
  • #3,948
  • Sep 15, 2010 6:24am Sep 15, 2010 6:24am
Yes, I do exit if the trade goes nowhere. But today I did not see any indication of supply overcoming demand. In fact, I saw the opposite. That's why I'm still holding. And there we go, resistance broken on higher volume on 5 min. Now to see if it holds. Trade protected
  • #3,949
  • Sep 15, 2010 6:24am Sep 15, 2010 6:24am
Quoting Intel
Dont expect too much out of those JPY short setups. Protect your trades, I'm at BE already.

depends when you entered and which system you use, did`nt do as well as this guy HERE i`ve been short since july 14 on the daily.
..out now though
Seek not to change the world; seek only to change your mind about the world
  • #3,950
  • Sep 15, 2010 7:34am Sep 15, 2010 7:34am
Looking for earlier trading range to now provide support
But it's news time. Let's see.
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  • #3,951
  • Sep 15, 2010 7:51am Sep 15, 2010 7:51am
Good morning traders.

I really have been enjoying Hanovers recent strength indicator. It shows you the strongest and weakest currencies across different time frames, and is helpful in selecting the trendiest pair. It really helps to have the wind at your back.

Here's a question for you find ladies and gentlemen about buying dips: after you see selling climax and upthrust, do you ever enter on the break of a shake out or do you wait for a no supply/test bar to enter?

I have also been using my old standby 123 reversal for entries when I don't get a really clear VSA entry, but the SL is pretty big for that type of entry.
  • #3,952
  • Sep 15, 2010 8:02am Sep 15, 2010 8:02am
Hm so which is right, audusd 15m, is she high or low volume?
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  • #3,953
  • Sep 15, 2010 8:15am Sep 15, 2010 8:15am
GU expected to break the resistence.
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  • #3,954
  • Sep 15, 2010 8:17am Sep 15, 2010 8:17am
Quoting frankkn
Hm so which is right, audusd 15m, is she high or low volume?
I suppose the second is closest to mine. Why do you have 2?
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  • #3,955
  • Sep 15, 2010 8:27am Sep 15, 2010 8:27am
Intel,
Do you use any indicator to draw support and resistance in your chart?
Quoting Intel
I suppose the second is closest to mine. Why do you have 2?
  • #3,956
  • Sep 15, 2010 8:30am Sep 15, 2010 8:30am
Quoting frankkn
about buying dips: after you see selling climax and upthrust, do you ever enter on the break of a shake out or do you wait for a no supply/test bar to enter?
Generally, I wait for a no supply/test bar.
Only if it's a very strong rut or shake-out, and in the case it's not my first trade of the day... then I may take my chances.

Quoting frankkn
Hm so which is right, audusd 15m, is she high or low volume?
I would say high vol, that's what I have (though I don't trade that pair).


General thoughts:

I find it harder to trade in days after such moves as the ones we had yesterday, so I try to avoid trading for at least 1 day, to let the dust settle... might take 1 little trade if I see some quick easy pips, but no more. That's what I did today, took a small 10 pips and ran away.

Plus, today we have news almost every hour or so, making it harder to see clear evidence of immediate strength or weakness, with all the whipsaw up and down.
  • #3,957
  • Sep 15, 2010 8:34am Sep 15, 2010 8:34am
Quoting Intel
I suppose the second is closest to mine. Why do you have 2?

The one on the left is FXCM and the one on the right is IBFX, both demo feeds. I have two because I've been watching them trying to figure out which one to go with.
  • #3,958
  • Sep 15, 2010 8:37am Sep 15, 2010 8:37am
Quote
I would say high vol, that's what I have (though I don't trade that pair)

Thanks for the input.

Quote
let the dust settle

Good call

Quote
and in the case it's not my first trade of the day... then I may take my chances........That's what I did today, took a small 10 pips and ran away.

Lol that's funny I did grab a quick 10 pips earlier and am now looking to try something new and learn something.
  • #3,959
  • Sep 15, 2010 8:38am Sep 15, 2010 8:38am
Quoting gez40
depends when you entered and which system you use, did`nt do as well as this guy HERE i`ve been short since july 14 on the daily.
..out now though
Well.......if thats as many pips as he can muster......I suppose it would do

I have studied Peters method and believe it does have potential. The part I like about it the most is his trade management. He protects his trade very quickly the lets the 'free' trade run.

However, 4300 pips letting his short trades run? There is only a 700 ish pip difference between June and now. 4 of those weeks are up weeks........
  • #3,960
  • Sep 15, 2010 8:39am Sep 15, 2010 8:39am
Quoting skyscraper
Intel,
Do you use any indicator to draw support and resistance in your chart?
No I do it manually.
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