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vsa with Malcolm

  • #13,041
  • Feb 17, 2011 5:29pm Feb 17, 2011 5:29pm
Quoting malcolmb14
QUIZ TIME

go to www.stockcharts.com and tell me why i picked up Nokkia (nok) april 9 calls today
I don't trade options but why not 10.75? Which would fill the professional gap that was prior to the Ultra High Volume bar (stopping volume) that was just tested.
Without VSA, you're playing checkers while the Smart Money plays chess.
  • #13,042
  • Feb 17, 2011 5:30pm Feb 17, 2011 5:30pm
yes been watching nokkia for 4 days now...

I bought some 9 calls that expire in april for 54 cents ... should make 100 if not 200%

Quoting Intel
Do you mean you bought some options?
Blogging daily now at www.volume.zone
  • #13,043
  • Feb 17, 2011 5:31pm Feb 17, 2011 5:31pm
damn should have said NOT hidden gap

stopping volume few days back
test today

almost perfect vsa entry

$9 in the money calls ... price moves to 10.75 I make about 300 %

Quoting HiddenGap
I don't trade options but why not 10.75? Which would fill the professional gap that prior to the Ultra High Volume bar (stopping volume) that was just tested.
Blogging daily now at www.volume.zone
  • #13,044
  • Feb 17, 2011 5:31pm Feb 17, 2011 5:31pm
Quoting HiddenGap
I don't trade options but why not 10.75? Which would fill the professional gap that was prior to the Ultra High Volume bar (stopping volume) that was just tested.
Good target but, with options, I though the target was set for you. Are you saying you get to choose your target?
  • #13,045
  • Feb 17, 2011 5:33pm Feb 17, 2011 5:33pm
Quoting malcolmb14
damn should have said NOT hidden gap

stopping volume few days back
test today

almost perfect vsa entry

$9 in the money calls ... price moves to 10.75 I make about 300 %
LOL

He has a habbit of doing that!
  • #13,046
  • Feb 17, 2011 5:34pm Feb 17, 2011 5:34pm
Quoting Intel
Good target but, with options, I though the target was set for you. Are you saying you get to choose your target?
Or am I confusing them with binaries?
  • #13,047
  • Feb 17, 2011 5:37pm Feb 17, 2011 5:37pm
EU finding some volume from the night staff.
  • #13,048
  • Feb 17, 2011 5:41pm Feb 17, 2011 5:41pm
You can buy in the money options , you pay more for them. My $9 calls are in the money by 50 cents already. As price moves there is about a 70 % correlation ..$1 move in stock is 70 cent move in option

as long as the stock is above $10 at option expiry (3rd week in april)I will make some profit. if it expires at 9.5 , todays price then i will lose the entire value of the option , however i am free to sell it at any time

it is a great leverage trade for gld (gold etf) and some of the oil etfs in a tax free savings account( canada thing)

Quoting Intel
Good target but, with options, I though the target was set for you. Are you saying you get to choose your target?
Blogging daily now at www.volume.zone
  • #13,049
  • Feb 17, 2011 5:43pm Feb 17, 2011 5:43pm
sort off
Thank you Malcolm, Belekas, Jim, raczekfx and Ryanmcd !
  • #13,050
  • Feb 17, 2011 5:46pm Feb 17, 2011 5:46pm
Quoting malcolmb14
You can buy in the money options , you pay more for them. My $9 calls are in the money by 50 cents already. As price moves there is about a 70 % correlation ..$1 move in stock is 70 cent move in option

as long as the stock is above $10 at option expiry (3rd week in april)I will make some profit. if it expires at 9.5 , todays price then i will lose the entire value of the option , however i am free to sell it at any time

it is a great leverage trade for gld (gold etf) and some of the oil etfs in a tax free savings account( canada thing)
Ah yes, I was confusing them with binaries.
  • #13,051
  • Feb 17, 2011 5:46pm Feb 17, 2011 5:46pm
damn 15 min stochastic was pointing down when price moved up I missed the move ..lol

Quoting Intel
Ah yes, I was confusing them with binaries.
Blogging daily now at www.volume.zone
  • #13,052
  • Feb 17, 2011 5:49pm Feb 17, 2011 5:49pm
Quoting Intel
You will soon see that it DOES work, even if as yet, you don't understand why.
Ive been looking at it for a while but have not made it work very well, perhaps due not understanding why, or having serious doubts about how it could possibly work to that level in forex. i have read MTM.

what gets me is all the times theres a big spike in volume, it may move up slightly on the next bar then continues back on its way. as in the chart attached with the red arrow, big volume spike, the bar wasnt exactly large spread considering the rise in volume, next bar starts to go up, didnt trade this but it would have had me thinking, right that vole spike was buying, time to go long! and what does it do, barely 10 pips up over the next 2 bars before it continues tanking, so i fail.

Then you see the bottom with the huge purple vol spike on the huge down bar. now the bar was very large spread, on very high volume and closed on the lows of the bar. no reason to suspect anything other than lots of selling in that bar then since the volume, the size of the spread and where it closed, and as far as i see in the preceeding few bars, no sign of strength there either. So then next bar first starts to go down, i might be thinking right then, its gonna continue down, and take a sell, but no, that bar reverses up then closes near the middle as a little up doji, from there the thing rockets straight up 120 pips. Now that is exactly the kind of trouble i have, in my mind that bar was all selling AND the next bar when it opened did start to move down, so id take a sell and end up in a sell within 3 pips of the exact low of the entire day! which about sums up my usual luck


Quoting Intel
As for Q2., the answer is not so simple and will take much longer to explain. I dont have the time right now but I will do my best to provide an answer for you when I can.

I've noticed you in the thread quite often. Please post some charts, I'm sure you can add to the thread.
yeh i take a peek, gave up posting much on ff when 50% say up, 50% say down and most people are just full of sheet, so basically dont get any clues as to whether i should be looking up or down, and dont learn anything either lol
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  • #13,053
  • Feb 17, 2011 5:58pm Feb 17, 2011 5:58pm
after you see that look for a test .... that might have been a sign of buying but you want to see the high of that bar taken out and then a test. This is the perfect set up

Quoting ewokuk
Ive been looking at it for a while but have not made it work very well, perhaps due not understanding why, or having serious doubts about how it could possibly work to that level in forex. i have read MTM.

what gets me is all the times theres a big spike in volume, it may move up slightly on the next bar then continues back on its way. as in the chart attached with the red arrow, big volume spike, the bar wasnt exactly large spread considering the rise in volume, next bar starts to go up, didnt trade this but it would have had me thinking, right...
Blogging daily now at www.volume.zone
  • #13,054
  • Feb 17, 2011 6:00pm Feb 17, 2011 6:00pm
whenever you see ultra high volume bars always be suspicious of a trend reversal.

I sold 1.3480 exoecting 1.3440 and when i saw that on i phone I said to dr g I am gonna be stopped ( stop was 30 pip as it was a day trade)

Quoting ewokuk
Ive been looking at it for a while but have not made it work very well, perhaps due not understanding why, or having serious doubts about how it could possibly work to that level in forex. i have read MTM.

what gets me is all the times theres a big spike in volume, it may move up slightly on the next bar then continues back on its way. as in the chart attached with the red arrow, big volume spike, the bar wasnt exactly large spread considering the rise in volume, next bar starts to go up, didnt trade this but it would have had me thinking, right...
Blogging daily now at www.volume.zone
  • #13,055
  • Feb 17, 2011 6:11pm Feb 17, 2011 6:11pm
I've hardly had any time to trade this week with school and work. Here is an example of how I've been looking at the markets. I would love some criticism on this.

I only trade EU. The charts are: 4h, 15m, and 5m. I have been trading with the 4h hull trend. A prerequisite for taking a position is a "legitimate" drop/rally on the 15m followed by climactic volume. Next I want price to cross the 15m hull, and also for the 5m hull to change color. I only like to enter on ND/NS and low volume tests. When I'm with the longer term (daily/weekly) I like to look for 1:2 r:r, and when against I use 1:1.

So I would like to see this volume turn into a sell off before I start looking for the other requirements.

I would like to only trade during the first 3 hours of a market open. I also take into account levels defined by AMT but those are more of a learning/observation process than a decision making one.
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  • #13,056
  • Feb 17, 2011 6:36pm Feb 17, 2011 6:36pm
Well Mallerinas...

Are we there yet?

TIMBERRRRRRR....



Quoting Magix
After the buy back today, it is hard to not have somewhat of a bullish feel for things but adding at 3610?? Just some random number or what?

Get past the chart voodoo here mal, have a look at the utl...3625...

Now, I would think an add above that point might be a little better idea...

But hey, you been holding scuba trades for 2 weeks now....your choice...

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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #13,057
  • Feb 17, 2011 6:36pm Feb 17, 2011 6:36pm
Quoting ewokuk
Ive been looking at it for a while but have not made it work very well, perhaps due not understanding why, or having serious doubts about how it could possibly work to that level in forex. i have read MTM.

what gets me is all the times theres a big spike in volume, it may move up slightly on the next bar then continues back on its way. as in the chart attached with the red arrow, big volume spike, the bar wasnt exactly large spread considering the rise in volume, next bar starts to go up, didnt trade this but it would have had me thinking, right...

LOL I hear your pain when selling bottoms and buying tops.

Ok so listen up, here is your first VSA tip. Mark it well and never deviate from it:-

NEVER trade on the back of 1 bar, ESPECIALLY a high volume bar.

If you do you WILL lose you money.

Your first signal to look for which tells you something might be about to happen is:- a wide spread bar on high volume. Wide spread = noticeable greater than the previous 4 bars. High volume = noticeably higher than the previous 7 or 8 bars (or 50% higher than the prev 2 bars). These definitions are a starting point only and not set in stone. Once you have studied VSA for a while you will develope a feel for what YOU like to see.

When you see one of these, do NOTHING except watch what the market does as a result of that bar.

Take another look at your chart and post what you see and would do
now.
  • #13,058
  • Feb 17, 2011 6:41pm Feb 17, 2011 6:41pm
Quoting Magix
Well Mallerinas...

Are we there yet?

TIMBERRRRRRR....

I hope you're right.
  • #13,059
  • Feb 17, 2011 7:05pm Feb 17, 2011 7:05pm
Quoting Magix
Well Mallerinas...

Are we there yet?

TIMBERRRRRRR....

What are you stops? Assuming you use them.
  • #13,060
  • Feb 17, 2011 7:13pm Feb 17, 2011 7:13pm
Quoting Intel
What are you stops? Assuming you use them.
Wrong assumption.

I don't let trades linger in red, so...if I am still green throughout the evening I will set a TP point before I nod off for nappy time.

It is just a trade...I did manage to get a double top on cable round about the same time, but will be scalping the hell out of the pair of them if they continue on the slide.

Either way...no matter, I exit flat on this one, and flip to longs, or I make out like a bandit and still hammer in the quickies...

30-60 trades per day...and No, I don't win em all...
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
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