well I am just not talking about PA or pattern setups with odds in your favor for the most part. I guess if that is your general definition of setup then you can call it that. Everyone is waiting for an opportunity.

Stop searching for the 'Holy Grail', work on yourself! 843 replies
Is there a script to place a sell stop & buy stop at a certain 1 reply
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Please EURO Stop it..You are Embarrasing yourself. 45 replies
Dislikedwell, here is my take. on the market
been trading for few years, the very first few.. it sucked..
then the picture became clear...
Tape Reading. and try VSA.. volume spread analysis. will help along with order flow supprt and ressistance.....
you will start seeing structure..
The problem with us as traders we mainly focus on the charts with out knowing what's really going on behind the charts...
you gotta tape read.. and understand supply demand inflection points.....
good luck..Ignored
DislikedI guess there are people that believe using past prices and having a great understanding of what's going on in their charts is enough to trade without calling it gambling.
in the end, it doesn't matter what you believe as long as your profiting consistently... whether you call it gambling or not or using the order book, VSA, MA's, MT4 tools, or none at all.Ignored
DislikedTape reading in Forex is like trying to read a book with half the pages torn out.
The 2 things that you can rely on in a decentralized market are the chart for technicals and fundamentals for market sentiment.
The price chart is the only true aggregation that is representative of the market as a whole. (tick volume is not)
Once you eliminate all the bullshit, you can then focus on torturing your chart until it confesses. It is not simple, and it is not a "system".
By building enough correlational technical relationships that price...Ignored
DislikedWell put.
In terms of utilizing past data, lawyers study past cases to increase their odds of winning, doctors study past operations to increase their odds of not killing their patient, salesman study prior pitches to increase their odds of closing a sale. There isn't a single profession that doesn't rely on past data as part of the formula for success, trading is no different. Many high paying professions involve risk, so you could say most are a gamble.Ignored
Disliked5% per month, which many "traders" find to be laughable, make 1 trillion dollars out of $50 in less than 40 years.Ignored
DislikedHello this is my first post here.
IMO nobody wants to wait 40 years to become multimillionere
Everybody wants to do this in 1 year and during 39 next years spend that money
So this becomes main problem for some people.... and couses failures and such funny posts.Ignored
DislikedI'm not interested in having a debate on VSA, and know the VSA traders position quite well regarding their "system". You should do your own homework and make an educated choice based on the proper vetting of any process or system that people tout.Ignored
DislikedI started trading back in 1998 using cybertrader LEVEL 2 ,, order book and all of that.. VOLUME is the KEY..................Ignored
DislikedI agree with you that the market dynamics have changed over time.. however, I still believe you can use VSA and Orderflow to trade profitably.
I can acctually prove that........................although vsa is not fully useful, you can still use it with success..
I don't use any indicators. I trade on bare charts.
EXAMPLE EURUSD now heading toward 1.3528 and then you can sell if VSA confirms...
enjoy.Ignored
DislikedI'm still asking myself if SIGMA sold euro at 1.3528 after waiting for his VSA confirmation.
I can't understand how somebody would try to sell euro. He has to be the newbiest trader alive.
And another important point too, you can't prove that a complicated indicator increases the odds as long as you trade discretionary. Trying to disprove the usefulness of tick volume is an exercise in futility, there will always be some hardcore traders, possible profitable, which will think that their success comes from interpreting that volume.
If someone...Ignored