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vsa with Malcolm

  • #8,721
  • Jan 4, 2011 5:57am Jan 4, 2011 5:57am
as soon as there is a little sign for a trade against the current direction, you are in
  • #8,722
  • Jan 4, 2011 6:01am Jan 4, 2011 6:01am
I'm long at .3396 . It feels like I'm overtrading
  • #8,723
  • Jan 4, 2011 6:01am Jan 4, 2011 6:01am
Quoting Intel
Already in at the ND on the M5 after the 2 bar reversal
Fair play! I'll be waiting for a 20min no demand. Hourly and 20min charts form my strategy. I personally find the 5min a bit noisy.
  • #8,724
  • Jan 4, 2011 6:05am Jan 4, 2011 6:05am
Quoting 1pipperhour
I'm long at .3396 . It feels like I'm overtrading
That's it. Moved sl to be. Will go out and enjoy the snow.
  • #8,725
  • Jan 4, 2011 6:07am Jan 4, 2011 6:07am
Quoting 1pipperhour
That's it. Moved sl to be. Will go out and enjoy the snow.
Do you have a profit target set?
  • #8,726
  • Jan 4, 2011 6:08am Jan 4, 2011 6:08am
Quoting Dr.Geppynius
as soon as there is a little sign for a trade against the current direction, you are in
I only trade 2 setups but, I will trade them WHENEVER I see them. If I'm unsure about the trend direction I will set a specific SL. Otherwise I will move to BE fairly quickly and let it run till a higher TF tells me to exit.

In this trade, I would have exited by now but the H1 is looking weak enough to keep me in.
  • #8,727
  • Jan 4, 2011 6:13am Jan 4, 2011 6:13am
Quoting Intel
I only trade 2 setups but, I will trade them WHENEVER I see them. If I'm unsure about the trend direction I will set a specific SL. Otherwise I will move to BE fairly quickly and let it run till a higher TF tells me to exit.

In this trade, I would have exited by now but the H1 is looking weak enough to keep me in.
So you're open price was about 1.3406? (give or take the difference in data)
  • #8,728
  • Jan 4, 2011 6:17am Jan 4, 2011 6:17am
Quoting KinsaleForex
So you're open price was about 1.3406? (give or take the difference in data)
3407

TP just hit.
  • #8,729
  • Jan 4, 2011 6:21am Jan 4, 2011 6:21am
Quoting Intel
3407

TP just hit.
I am waiting for a similar setup to form on the H1 but we are lacking in volume in the build up. The setup will have to be perfect for the rest of it in order to get me in.
  • #8,730
  • Jan 4, 2011 6:22am Jan 4, 2011 6:22am
Quoting Intel
I am waiting for a similar setup to form on the H1 but we are lacking in volume in the build up. The setup will have to be perfect for the rest of it in order to get me in.
Seems to be a decent amount of volume to me, or do you look for it to actually go into U-high? (do you use TradeGuider or something else?)
  • #8,731
  • Jan 4, 2011 6:26am Jan 4, 2011 6:26am
Quoting KinsaleForex
Seems to be a decent amount of volume to me, or do you look for it to actually go into U-high? (do you use TradeGuider or something else?)
No I just use MT4 and FXCM feed. The volume I'm talking about should be on the wide spread up bar prior to the UT. But, there is little.
  • #8,732
  • Jan 4, 2011 6:28am Jan 4, 2011 6:28am
Quoting Intel
No I just use MT4 and FXCM feed. The volume I'm talking about should be on the wide spread up bar prior to the UT. But, there is little.
Yeah just checked your profile. So out of interest why doesn't the volume on the upthrust suffice?
  • #8,733
  • Jan 4, 2011 6:47am Jan 4, 2011 6:47am
Quoting KinsaleForex
Yeah just checked your profile. So out of interest why doesn't the volume on the upthrust suffice?
It does sometimes but to get the reliability we need to trade, we must see signs of weakness in the background. Otherwise, the move could be so small that we get stopped out on a regular basis.

Before I trade, normally I must see:-

1. Weakness in the background.
2. A fake out.
3. Confirmation that it WAS a fake out.
4. No interest from SM in higher prices.


If you go here you can see a better description of the type of trades I take.
  • #8,734
  • Jan 4, 2011 6:53am Jan 4, 2011 6:53am
Quoting Intel
3407

TP just hit.
It seems I could have held on to it
I'm happy with my profits.

Is anyone still in?
  • #8,735
  • Jan 4, 2011 6:54am Jan 4, 2011 6:54am
Quoting Intel
It does sometimes but to get the reliability we need to trade, we must see signs of weakness in the background. Otherwise, the move could be so small that we get stopped out on a regular basis.

Before I trade, normally I must see:-

1. Weakness in the background.
2. A fake out.
3. Confirmation that it WAS a fake out.
4. No interest from SM in higher prices.


If you go here you can see a better description of the type of trades I take.
Cheers for the info, as you explain in the post, it's important to have a strict set of rules to follow. I was looking for a No demand bar on the 20min Eddie chart, got an even close bar at 14:40 so didn't go in. It's now moved 19 pips down, just the way it goes!
  • #8,736
  • Jan 4, 2011 6:58am Jan 4, 2011 6:58am
Quoting KinsaleForex
Cheers for the info, as you explain in the post, it's important to have a strict set of rules to follow. I was looking for a No demand bar on the 20min Eddie chart, got an even close bar at 14:40 so didn't go in. It's now moved 19 pips down, just the way it goes!
In my setups I will use an 'even close' bar and sometimes undr the right conditions I'll use a NS instead of a ND and vice versa. I dont recommend this tho.
  • #8,737
  • Jan 4, 2011 7:04am Jan 4, 2011 7:04am
Quoting Intel
In my setups I will use an 'even close' bar and sometimes undr the right conditions I'll use a NS instead of a ND and vice versa. I dont recommend this tho.
Yeah i know people who take them as is but the way I see it is one pip lower then it's not the bar i'm looking for. If it hits 1.3336 i'll kick myself a bit though
  • #8,738
  • Jan 4, 2011 7:04am Jan 4, 2011 7:04am
EU M5

Those of you who took part in the last quiz question, should recognise the last up bar. Note the result........
  • #8,739
  • Jan 4, 2011 7:06am Jan 4, 2011 7:06am
Quoting KinsaleForex
Yeah i know people who take them as is but the way I see it is one pip lower then it's not the bar i'm looking for. If it hits 1.3336 i'll kick myself a bit though
Hey, have your entry rules and stick to them. I have wandered off mine a couple of times this last fortnight and lost each time.
  • #8,740
  • Jan 4, 2011 7:12am Jan 4, 2011 7:12am
Quoting Intel
Hey, have your entry rules and stick to them. I have wandered off mine a couple of times this last fortnight and lost each time.
True. Thing is, i can close my program and open it and there's every chance it will be the No Demand! Anyway, time for me to let it go methinks! Something for me to blog about!
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