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vsa with Malcolm

  • #9,061
  • Jan 6, 2011 10:46am Jan 6, 2011 10:46am
Quoting KinsaleForex
I've an order set on Eddie, no supply on 20min.

Open - 1.3029
Stop - 1.3000
Target - 1.3058

I'm in work and remote logged so can't post a screenshot. I'll do it later.
Yeah i got stopped Ah well.
  • #9,062
  • Jan 6, 2011 10:52am Jan 6, 2011 10:52am
kinsale...why the hell..are you placing your stop at 3000? this is more than a present for your broker. never place stops at round numbers. i would have guaranteed you that they come for it. the correct usage of stops forces you to place them there, where they don't get hit and not where they most likely will get hit if this happens too often to you, open the trade where you would place the stop...you will be amazed.

Quoting KinsaleForex
Yeah i got stopped Ah well.
  • #9,063
  • Jan 6, 2011 10:55am Jan 6, 2011 10:55am
Quoting Dr.Geppynius
kinsale...why the hell..are you placing your stop at 3000? this is more than a present for your broker. never place stops at round numbers. i would have guaranteed you that they come for it. the correct usage of stops forces you to place them there, where they don't get hit and not where they most likely will get hit if this happens too often to you, open the trade where you would place the stop...you will be amazed.
I am taking screenshots of those pearls of insight!

So obvious once pronounced -- that is what it should be with the truth.
  • #9,064
  • Jan 6, 2011 10:58am Jan 6, 2011 10:58am
Quoting Dr.Geppynius
kinsale...why the hell..are you placing your stop at 3000? this is more than a present for your broker. never place stops at round numbers. i would have guaranteed you that they come for it. the correct usage of stops forces you to place them there, where they don't get hit and not where they most likely will get hit if this happens too often to you, open the trade where you would place the stop...you will be amazed.
I know not to place them at even numbers and normally I don't. Guess I was eager to get in i suppose! Mistakes happen.
  • #9,065
  • Jan 6, 2011 11:03am Jan 6, 2011 11:03am
Quoting Dr.Geppynius
kinsale...why the hell..are you placing your stop at 3000? this is more than a present for your broker. never place stops at round numbers. i would have guaranteed you that they come for it. the correct usage of stops forces you to place them there, where they don't get hit and not where they most likely will get hit if this happens too often to you, open the trade where you would place the stop...you will be amazed.
Sound advice. If I might add to that..... if you're looking for a reasonably small trade, dont put your TP just BEYOND a psych number. Put it a pip before, you'll hit TP much more often.
  • #9,066
  • Jan 6, 2011 11:09am Jan 6, 2011 11:09am
Quoting Intel
AU M15

LOL this should be interesting. Its taken me an age to work out how to upload a video to Youtube!!!!!

Is it ok??
Intel,

are you still in this trade? or did you exit? Also, is the bar marked in the attached screenshot a valid NS? I cant quite tell because of the low volume.
Attached Image (click to enlarge)
Click to Enlarge Name: nd.JPG Size: 67 KB
  • #9,067
  • Jan 6, 2011 11:13am Jan 6, 2011 11:13am
Doc, Intel;

Cheers for the advice, it will be taken on board. If you could find the time, would you maybe have a look through my blog (in my sig) and tell me if there's anything i'm doing wrong there?

I'd rather not go full steam ahead with this strategy if there are some flaws that could be ironed out.

I'm very happy with that three months paper trading and i've settled on the strategy i'm employing now but any words from someone who's been in the game a bit longer would be good.

Cheers,

KF
  • #9,068
  • Jan 6, 2011 11:15am Jan 6, 2011 11:15am
Hi Intel!!!
Now, I got it: No supply and then break as confirmation =) So the test is only valid when the next bar is up, no?!
This is how it looks on Alpari:
Attached Image (click to enlarge)
Click to Enlarge Name: intel.jpg Size: 96 KB

Are you still in? How did it work out?
  • #9,069
  • Jan 6, 2011 11:37am Jan 6, 2011 11:37am
Quoting kasper
Intel,

are you still in this trade? or did you exit? Also, is the bar marked in the attached screenshot a valid NS? I cant quite tell because of the low volume.
No I closed out at the first tag of the blue resistance line in my video.

Your candle is a test. However, the volume at that time of day is always low.
  • #9,070
  • Jan 6, 2011 11:54am Jan 6, 2011 11:54am
good video intel. hope you do many more like it
  • #9,071
  • Jan 6, 2011 11:59am Jan 6, 2011 11:59am
Quoting KinsaleForex
Doc, Intel;

Cheers for the advice, it will be taken on board. If you could find the time, would you maybe have a look through my blog (in my sig) and tell me if there's anything i'm doing wrong there?

I'd rather not go full steam ahead with this strategy if there are some flaws that could be ironed out.

I'm very happy with that three months paper trading and i've settled on the strategy i'm employing now but any words from someone who's been in the game a bit longer would be good.

Cheers,

KF

Without testing your strategy myself its hard to say if it works or not.

However, I may see a flaw or 2.

Your strategy (from your site) is

wait for a high volume H1 bar then goto M20 and find a ND/NS and trade in the opposite direction to the H1 bar.

There are many times after a high volume H1 bar forms, that price moves very little in the opposite direction then resumes its course. There may not be much room for profit in such circumstances. Just a cursory look through the H1 charts and you should be able to see this.

It doesnt mean of course, that your setups will fail. Like I said, I haven't tested it myself.

The ultimate approval tho, is forward live testing
  • #9,072
  • Jan 6, 2011 12:10pm Jan 6, 2011 12:10pm
Quoting Intel
Without testing your strategy myself its hard to say if it works or not.

However, I may see a flaw or 2.

Your strategy (from your site) is

wait for a high volume H1 bar then goto M20 and find a ND/NS and trade in the opposite direction to the H1 bar.

There are many times after a high volume H1 bar forms, that price moves very little in the opposite direction then resumes its course....
What i haven't mentioned is i do generally wait for a small up move on the 20min chart then the no supply/test in an up move. It's just something I haven't updated in that section.

And speaking of which it's something I didn't do today.

Cheers for having a look though!
  • #9,073
  • Jan 6, 2011 12:13pm Jan 6, 2011 12:13pm
Quoting Plata
Hi Intel!!!
Now, I got it: No supply and then break as confirmation =) So the test is only valid when the next bar is up, no?!
This is how it looks on Alpari:
Attachment
Are you still in? How did it work out?
Look here for the way I trade them.
  • #9,074
  • Jan 6, 2011 12:23pm Jan 6, 2011 12:23pm
Nice to see the thread moving along and so many pages to read while i take my ' lazy way to riches plan'

For ES traders check the really nice shake out today , maybe a little dip in asia but somehow i feel that highest volume bar of all week at 1268 will be the launch pad for the 1.2 million jobs created nfp report tomorrow ...lol...not to mention the +500 k jobs create revision to last months -39 k nfp .

Gold is holding under 1382 , and while we saw massive volume on test of 1365 earlier this week , we saw a much weaker reaction today. This backs my theory that nfp is going to be awesome.....and gold will dropinto 1350 in one day as US economy is improving


PASS THE JOINT Ben....

I will post charts later when at home. Currently on my mega yacht withgall my wall street friends while the HFT algos run the market

as for gu ...nothing but selling on the 2 hr chart , expecting 1.5350 or lower in london to test bottom of channel
Blogging daily now at www.volume.zone
  • #9,075
  • Jan 6, 2011 12:28pm Jan 6, 2011 12:28pm
Awesome video. Very easy to follow, thanks a lot.

Quoting Intel
AU M15

LOL this should be interesting. Its taken me an age to work out how to upload a video to Youtube!!!!!


http://www.youtube.com/watch?v=TMQw-6Mb76I

Is it ok??
  • #9,076
  • Edited 1:50pm Jan 6, 2011 12:58pm | Edited 1:50pm
Party at the FED
Inserted Video
  • #9,077
  • Jan 6, 2011 2:24pm Jan 6, 2011 2:24pm
Quoting malcolmb14
Nice to see the thread moving along and so many pages to read while i take my ' lazy way to riches plan'

For ES traders check the really nice shake out today , maybe a little dip in asia but somehow i feel that highest volume bar of all week at 1268 will be the launch pad for the 1.2 million jobs created nfp report tomorrow ...lol...not to mention the +500 k jobs create revision to last months -39 k nfp .

Gold is holding under 1382 , and while we saw massive volume on test of 1365 earlier this week , we saw a much weaker reaction today. This...
Malc can you pls post that ES vsa chart
  • #9,078
  • Jan 6, 2011 3:01pm Jan 6, 2011 3:01pm
Would the last 2 bars be stop hunting to shake out weak longs? HV down bar closing off highs with next bar up on volume higher than last 12 or so bars...or maybe too early in the session?
Attached Image (click to enlarge)
Click to Enlarge Name: EU-M15-010611.png Size: 146 KB
Change is the only constant
  • #9,079
  • Jan 6, 2011 3:08pm Jan 6, 2011 3:08pm
Quoting tgwhbb
Would the last 2 bars be stop hunting to shake out weak longs? HV down bar closing off highs with next bar up on volume higher than last 12 or so bars...or maybe too early in the session?
Was waiting for that, but from an important level as 1.3000 can't see 1.2984 as stop hunt, so it prob. still will happen....
Don't be a hero. Don't have an ego. Always question yourself
  • #9,080
  • Edited 3:56pm Jan 6, 2011 3:21pm | Edited 3:56pm
Quoting USD-Bear
Was waiting for that, but from an important level as 1.3000 can't see 1.2984 as stop hunt, so it prob. still will happen....
think so too, checking the M5 chart there is a nice ND that has been broken....

EDIT: low was broken i mean...and a nice 20 pip move down, wow! here's the chart
Attached Image (click to enlarge)
Click to Enlarge Name: EU-M15-010611-2.png Size: 113 KB
Change is the only constant
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