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vsa with Malcolm

  • #14,821
  • Mar 3, 2011 5:34pm Mar 3, 2011 5:34pm
Quoting Beljevina
Hunh, 150 pips down? Wouldn't that get them to about the negative 50 pip point of my previous 50-100 pip shakeout on theoretical bad Trichet news?
But your 50 to 100 pips down was at 1.3850 or so which would mean going to 1.3800 or 1.3750, which in my eyes would cost them too much (breaching support at 1.3800 to 1.3820). In fact reading that I stand corrected, 50 pips I could cope with, 100 pips I couldn't LOL

My 150 pips down is based on price at around 1.3950, which would mean they'd still be above my support at 1.3800
Blogging daily now at www.volume.zone
  • #14,822
  • Mar 3, 2011 5:34pm Mar 3, 2011 5:34pm
Quoting Steve Gill
I like your blog Liam, I'm a massive fan of logging your thoughts and trades. I'm keeping a wordpress blog as well which only Malcolm has seen so far but hopefully once I've tidied it up a little I'll open it up to the public.

Out of interest why did you close your trade at 1.3915?
Cheers for looking at it, appreciate it! Yeah i've a diary too, as well as scribbling on bits of paper all day. I'm pretty methodical about how I approach trading, definitely helps. I'd be interested in seeing yours. Especially as you seem to know what you're talking about.

As for closing at 1.3915, all my trades work on a 1:1 stop/profit ratio. I'm looking into getting more out of my trades as a lot of the profitable ones hit my 1:1 and continue on further. But for now i'm being grateful for and taking what I get. (not to mention it moved far too quickly today for me to even consider removing my TP and letting it run!) I've traded live before, but for this stint (3rd time) I only started with a live account at the start of the year. This was after 3 and a bit months paper trading and sorting out a decent strategy. Happy to say this is the most profitable period to date.

I finished a 4 year degree in May '09 so I was only dabbling in the summers between each year previously. Decided to get my shit together and focus on trading as there sure as hell weren't any jobs going!
  • #14,823
  • Mar 3, 2011 5:37pm Mar 3, 2011 5:37pm
Quoting NaughtyPip
Im still follwoing your blog too liam, i just havent figured out how to post comments lol
Haha, below each posting there's a comments section. Think you need a google account to post though! Getting some decent views on there, funnily enough it seems proportional to how often I post on here! Cheers man.
  • #14,824
  • Mar 3, 2011 5:39pm Mar 3, 2011 5:39pm
Quoting malcolmb14
Thursday afternoon shout out to the...

HARD SHYT SCUBA TRADERS !!!!

LOL

I have to stop using this vsa shit
Evening Malc - I hope your driving's better than your chart reading
Blogging daily now at www.volume.zone
  • #14,825
  • Mar 3, 2011 5:41pm Mar 3, 2011 5:41pm
Quoting PipChick
There is only one regular in that thread who knows what he is doing. The rest are short unless the price rallies then they all long just at the right moment.lol
You must be referring to T?
Today's zone = Tomorrow's opportunity!
  • #14,826
  • Mar 3, 2011 5:44pm Mar 3, 2011 5:44pm
Quoting malcolmb14
Hey pip...

Hows things ? good to see you drop by .
Hey Malc
I lurk every now and then. I dont know much about VSA but I do watch you rake in the pips with it. I like to see if my style of trading is signaling the same direction as yours and most, if not all, of the time it is. So I get a little extra confirmation by stopping by
  • #14,827
  • Mar 3, 2011 5:44pm Mar 3, 2011 5:44pm
Quoting KinsaleForex
As for closing at 1.3915, all my trades work on a 1:1 stop/profit ratio. I'm looking into getting more out of my trades as a lot of the profitable ones hit my 1:1 and continue on further. But for now i'm being grateful for and taking what I get. (not to mention it moved far too quickly today for me to even consider removing my TP and letting it run!) I've traded live before, but for this stint (3rd time) I only started with a live account at the start of the year. This was after 3 and a bit months paper trading and sorting out a decent strategy....
It's worth doing some research into risk:reward if you haven't already. I used to work exactly as you are now, but it's not a good way to grow your capital. You need a few 2:1 or 3:1 wins to ensure that any 1:1 losses (which by the nature of stop losses they obviously are 1:1!) don't knock you back too far. Tom William's strategy for staying in a trade seems quite good - allowing for one down bar on longs and ignoring level(ish) bars.
Blogging daily now at www.volume.zone
  • #14,828
  • Mar 3, 2011 5:44pm Mar 3, 2011 5:44pm
Quoting pres78
You must be referring to T?
Sure am pres
  • #14,829
  • Mar 3, 2011 5:45pm Mar 3, 2011 5:45pm
Quoting Steve Gill
But your 50 to 100 pips down was at 1.3850 or so which would mean going to 1.3800 or 1.3750, which in my eyes would cost them too much (breaching support at 1.3800 to 1.3820). In fact reading that I stand corrected, 50 pips I could cope with, 100 pips I couldn't LOL

My 150 pips down is based on price at around 1.3950, which would mean they'd still be above my support at 1.3800
I don't see much lower than 3920-3900... but that's just me.
Today's zone = Tomorrow's opportunity!
  • #14,830
  • Mar 3, 2011 5:47pm Mar 3, 2011 5:47pm
Quoting PipChick
Sure am pres
He is one of the only traders (other than you of course) that I actually follow along with over at that madhouse...
Today's zone = Tomorrow's opportunity!
  • #14,831
  • Mar 3, 2011 5:48pm Mar 3, 2011 5:48pm
Quoting pres78
He is one of the only traders (other than you of course) that I actually follow along with over at that madhouse...
yes I like him. Straight forward and honest.
  • #14,832
  • Mar 3, 2011 5:51pm Mar 3, 2011 5:51pm
Quoting Steve Gill
It's worth doing some research into risk:reward if you haven't already. I used to work exactly as you are now, but it's not a good way to grow your capital. You need a few 2:1 or 3:1 wins to ensure that any 1:1 losses (which by the nature of stop losses they obviously are 1:1!) don't knock you back too far. Tom William's strategy for staying in a trade seems quite good - allowing for one down bar on longs and ignoring level(ish) bars.
Yeah, I am conscious of a losing trade wiping out previous gains so it is something I am looking into. Intel uses the 1:1 method as well and if trading with the trend talks about moving stops to BE once it hits / gets close to hitting 1:1, if you get me?

Tom's trending system seems good but personally I don't think it works too well for Forex, perhaps more so for stocks etc. That may just be me or the trades that I take. Do you employ it or have any success with it?
  • #14,833
  • Mar 3, 2011 5:52pm Mar 3, 2011 5:52pm
High volume up bars are not always selling .... they can be mark up bars when they take out major levels of resistance , which is what eu did today. You need volume to do that break out . Thing to watch for here is LOW volume testing of 1.3920 area

Quoting Steve Gill
Predictions for tomorrow:

Attached my new favourite chart - 8 hour starting at 06.00. First bar is Europe and UK morning session, 2nd bar is the US plus afternoon Europe and UK, 3rd bar is Asia.

The upmove today had some selling in it but it appears that selling has been mostly absorbed in the US session. With NFP tomorrow it's an eventful day and we might see the market sideways for most of the day until the news. I would have liked a drift down on low volume to test the my UVA at 1.3880 before going long but I think that's most unlikely now....
Blogging daily now at www.volume.zone
  • #14,834
  • Mar 3, 2011 5:55pm Mar 3, 2011 5:55pm
Steve

I got my dad to get my hotrod out the garage and get it race ready for our day on the track

Attached Image




Quoting Steve Gill
Evening Malc - I hope your driving's better than your chart reading
Blogging daily now at www.volume.zone
  • #14,835
  • Mar 3, 2011 5:58pm Mar 3, 2011 5:58pm
Help me ... I sold this stochastic cross down and now I lost money ... or was it a break even trade .. what happened .. how did I lose all my account ?

Attached Image (click to enlarge)
Click to Enlarge Name: eu 240.jpg Size: 182 KB
Blogging daily now at www.volume.zone
  • #14,836
  • Mar 3, 2011 5:58pm Mar 3, 2011 5:58pm
Quoting malcolmb14
Steve

I got my dad to get my hotrod out the garage and get it race ready for our day on the track

Attachment
Looks like a Robin Reliant, wouldn't want to corner any faster than 40mph
  • #14,837
  • Mar 3, 2011 5:59pm Mar 3, 2011 5:59pm
this happened last time i took it on the track

Inserted Video





Quoting KinsaleForex
Looks like a Robin Reliant, wouldn't want to corner any faster than 40mph
Blogging daily now at www.volume.zone
  • #14,838
  • Mar 3, 2011 6:00pm Mar 3, 2011 6:00pm
Quoting pres78
EU for Friday... I would like to see a move up in Asia with a LO or pre LO SO or test into the 3960-3950 (1hr trigger) zone for a long NFP booted trade into a daily high at 4110-4090.
Either the above or looking further now at the way the day closed I would rather see a move down into 3920-3900 with SO + confirmation or test for entry from this level with the daily high around 4050-4070, 4100 would still be in the cards if NFP gives us a nice kick in the pants for an above average ADR.
Today's zone = Tomorrow's opportunity!
  • #14,839
  • Mar 3, 2011 6:02pm Mar 3, 2011 6:02pm
Quoting malcolmb14
Help me ... I sold this stochastic cross down and now I lost money ... or was it a break even trade .. what happened .. how did I lose all my account ?

Attachment
There was too much divergence in your convergence and WAYYYY too much of your candlesticks are showing.
Today's zone = Tomorrow's opportunity!
  • #14,840
  • Mar 3, 2011 6:03pm Mar 3, 2011 6:03pm
Quoting malcolmb14
Help me ... I sold this stochastic cross down and now I lost money ... or was it a break even trade .. what happened .. how did I lose all my account ?

Attachment
Hold that trade dude...

We still looking for a 1m x...



Good tech sell BTW.
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