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vsa with Malcolm

  • #13,061
  • Feb 17, 2011 7:17pm Feb 17, 2011 7:17pm
Quoting Magix
Wrong assumption.

...30-60 trades per day...and No, I don't win em all...

I should hope you dont!

How many pips do you consider a scalp on the H1 chart?
  • #13,062
  • Feb 17, 2011 7:28pm Feb 17, 2011 7:28pm
Quoting Intel
I should hope you dont!

How many pips do you consider a scalp on the H1 chart?
I trigger on the 1m chart.

I take between 5-10 pips per trade.

If my 1m chart triggers my 5m chart, I will watch for 30-50.

I watch crucial support and resistance lines...like currently, we are hanging around daily rollover...

Take profit here, or perhaps let it ride...I am short biased, so, going to let it ride...
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #13,063
  • Feb 17, 2011 8:18pm Feb 17, 2011 8:18pm
Quoting ewokuk
Ive been looking at it for a while but have not made it work very well
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.

Then you see the bottom with the huge purple vol spike on the huge down bar....
Hello;
Something you may not know (or remember from mtm) is why you see a huge amount of sellers selling at the bottom, and a huge amount of buying at the top (big volume bars) is that these are stops being hit. UNWILLING buyers or sellers being forced out of their positions. When you have a huge spike up price, then this should give sellers all the reason they need to enter their short positions. (and this is why the market reverses).

But sometimes you see a flag formation, the market starts to move sideways. This tells me that there sellers ARE NOT COMING IN, and that reversal is not going to have much conviction.

I hope this helps you to understand the market dynamics going on, and why volume is so important for you to understand in order to refine your strategy.
  • #13,064
  • Feb 17, 2011 8:35pm Feb 17, 2011 8:35pm
holy shit ... we dropped 20 pip in 3 hours for sure eu going to parity

Quoting Magix
Well Mallerinas...

Are we there yet?

TIMBERRRRRRR....

Blogging daily now at www.volume.zone
  • #13,065
  • Feb 17, 2011 8:40pm Feb 17, 2011 8:40pm
Quoting malcolmb14
holy shit ... we dropped 20 pip in 3 hours for sure eu going to parity
Hey, Scuba...

I just beat your EU trading week.

Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #13,066
  • Feb 17, 2011 8:40pm Feb 17, 2011 8:40pm
Quoting malcolmb14
holy shit ... we dropped 20 pip in 3 hours for sure eu going to parity

btw mal may i ask where are ur reload points for longs on eu today?

i'm looking at 1.3550 which held or maybe 1.3560..

i got longs in at 1.3484 ( last few days) and 1.3550 (ytd)
stops to BE on 1st position and letting it ride..

Have yet to add longs at the trigger point 1.3610 u mentioned last few days cos i was looking to add more on a shakeout or a retrace down to 3550ish levels..
  • #13,067
  • Feb 17, 2011 8:48pm Feb 17, 2011 8:48pm
week not over yet ...

Quoting Magix
Hey, Scuba...

I just beat your EU trading week.

Blogging daily now at www.volume.zone
  • #13,068
  • Feb 17, 2011 8:53pm Feb 17, 2011 8:53pm
1.3580 should be tested and hold in frankie fake out if we are going to get an up day

that is vwap today and upper value area yesterday

my day runs london to london as most of the activity takes place in london and london us overlap.

Attached Image (click to enlarge)
Click to Enlarge Name: eu137.png Size: 208 KB






Quoting willkohsg

btw mal may i ask where are ur reload points for longs on eu today?

i'm looking at 1.3550 which held or maybe 1.3560..

i got longs in at 1.3484 ( last few days) and 1.3550 (ytd)
stops to BE on 1st position and letting it ride..

Have yet to add longs at the trigger point 1.3610 u mentioned last few days cos i was looking to add more on a shakeout or a retrace down to 3550ish levels..
Blogging daily now at www.volume.zone
  • #13,069
  • Feb 17, 2011 9:04pm Feb 17, 2011 9:04pm
Quoting malcolmb14
week not over yet ...
Cummon Mal, give a brother a little credit here...

I was off by what 1 pip on a reversal from 24 hours prior...

Even if only good for a few shekles, it is a little observation worthy of mention outside of the VSA world...
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #13,070
  • Feb 17, 2011 9:05pm Feb 17, 2011 9:05pm
Quoting frankkn
I've hardly had any time to trade this week with school and work....
There's the sell off. I'd prefer to see more volume on the marked down bar but it is Tokyo
Attached Image (click to enlarge)
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  • #13,071
  • Feb 17, 2011 9:34pm Feb 17, 2011 9:34pm
Quoting juhanimi
EU-H1 accumulation

Hi Juhanimi,

In your chart "Who was Selling Here?"

Possibilities:-

(a) Temporary Sellers who want a quick profit playing around the High of the Big Long Red Down bar as mentioned in my previous charts.

(b) Actual Real Buyers may also be selling here as they don't want to push the price above that range yet. They wanted to accumulate more Longs within that Range.


Note within the "Range Inside", every down move was encountered with more and faster longer up blue bars (especially just before the break up) and the volume was increasing more during the up moves than the down moves, showing further strength.
  • #13,072
  • Feb 17, 2011 9:44pm Feb 17, 2011 9:44pm
If this is going to retrace, it will be to the 3480 area. But me, LOL, I am with Malc and i am seeing 3730-3750 area before we get a noticable retrace, but only to pick up my Buy limit.....LOL

Mike
  • #13,073
  • Feb 17, 2011 10:03pm Feb 17, 2011 10:03pm
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...

Hi ewokuk,

What gets you into trouble is the same as what gets me into trouble.
Thinking price widening and volume increasing, time to enter.
This normally happens due to away from PC for a long time, then once on PC, quickly see this move and wanted to enter quickly.
This happens even after reading and analysing MTM/VSA for many times.
However, this trouble of entering is the opposite of VSA.

The other reason is you enter thinking there is a break, and price and vol increase slowly, but then at the end of the time frame (eg. M15), the bar entered turned out to be a Wide Spread and High Vol.
Oops for entry.

One must basically think in Reverse when applying VSA.
Keep re-reading MTM and applying VSA comments on charts.

In FF, 50% say up, 50% say down.
Don't concern about those 50%.
Just concern on the 1% that is You who has to decide whether up or down, and then monitor the result of yourself.
Just skip those junk posts about saying who is more right or more wrong, just petty squabbles with no value.
Whether the 50% is right or 50% is wrong has no real bearing for you, simply because you never know what is the time frame they are playing, what is their stop loss, what is their target profit.
And those factors especially their time frame playing field are more important factors than saying whether the currency is going up or down.

Basically we all still have to analyse for ourselves and have to decide what may be the general direction of that currency within our playing field.

Intel replied you with "LOL I hear your pain when selling bottoms and buying tops."
Listen to his reply, it really make sense especially about the high vol.
  • #13,074
  • Feb 17, 2011 10:16pm Feb 17, 2011 10:16pm
Quoting malcolmb14
QUIZ TIME

go to www.stockcharts.com and tell me why i picked up Nokkia (nok) april 9 calls today
ha! Dr. G had a post last week or the week before about the massive shakeout on NOK and CSCO...been watching them since...

Was waiting for my flight home today and picked up the recent issue of The Economist...lo and behold there was an article in there about...CSCO and NOK!

The gist of the article is how NOK is in serious trouble in the mobile phone market as they are consistently losing market share, and CSCO maybe in trouble too as they have spread into too many different market spaces leaving them vulnerable in many...

I just found it interesting how the massive shakeouts on both coincides with the "bad" news...
Change is the only constant
  • #13,075
  • Feb 17, 2011 10:24pm Feb 17, 2011 10:24pm
EU M15

Did anyone catch the setup for the up move? I was away from my computer sorry. Hope Magix got out.
  • #13,076
  • Feb 17, 2011 10:32pm Feb 17, 2011 10:32pm
Quoting Intel
EU M15

Did anyone catch the setup for the up move? I was away from my computer sorry. Hope Magix got out.
Sorry its a bit rubbish. Got work to do. Usual TP hit already!
Attached Image (click to enlarge)
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  • #13,077
  • Feb 17, 2011 10:33pm Feb 17, 2011 10:33pm
Quoting malcolmb14
QUIZ TIME

go to www.stockcharts.com and tell me why i picked up Nokkia (nok) april 9 calls today
NOK: coincidentally with bad news price dropped into demand level and had no choice then to go up...
The Market pays you to be disciplined
  • #13,078
  • Feb 17, 2011 10:36pm Feb 17, 2011 10:36pm
Quoting Intel
EU M15

Did anyone catch the setup for the up move? I was away from my computer sorry. Hope Magix got out.
Yeah dude...price stall on the 5m 200EMA...

Scalped a couple longs, waiting for an opportune reload.

Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #13,079
  • Feb 17, 2011 10:50pm Feb 17, 2011 10:50pm
Quoting Intel
EU M15

Did anyone catch the setup for the up move? I was away from my computer sorry. Hope Magix got out.
It's OK Intel Hope you continue post signal, I learn a lot from them. Your RR is 1:1, why don't you choose TP target wider, for example, next SR level, or close manually when seeing opposite signal like uhv, wide spread bar follow by a test, it could bring fabulous RR.
Just my 2 cents.
  • #13,080
  • Feb 17, 2011 11:01pm Feb 17, 2011 11:01pm
Quoting duyk20
It's OK Intel Hope you continue post signal, I learn a lot from them. Your RR is 1:1, why don't you choose TP target wider, for example, next SR level, or close manually when seeing opposite signal like uhv, wide spread bar follow by a test, it could bring fabulous RR.
Just my 2 cents.
Its because I trade reversal setups WHENEVER I see them. Sometimes, there isn't much room to move so the reversal becomes a retrace. Experience has taught me that the 1:1 ratio for my entry and stop loss, hits almost every time. So I take that and trade accordingly.
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