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vsa with Malcolm

  • #15,361
  • Mar 8, 2011 4:07pm Mar 8, 2011 4:07pm
Some brokers offer daytrading margin of 500 usd per contract. and do not need you to put 5k in even tough I think there should be 10k on the table since the smallest tick size is 12,5 usd/ tick per contract. nevertheless es is the best to trade in my opinion. just focussing this one instrument and getting to know how it moves is enough.

Quoting 1pipperhour
Well you need at least 5K for trading e-mini. Right? Still don't have it. Rising fuel price is eating my money. Read today that in Sweden (our neighbours) fuel costs 1,6089 euros per litre. Nice . Last year I looked at fuel prices in Finland and I thought that good I don't live in Finland. And now we have higher price than in Finland a year ago
  • #15,362
  • Mar 8, 2011 4:09pm Mar 8, 2011 4:09pm
Quoting 1pipperhour
Show me your daily chart.

Here is mine.
Sorry just got home from work...
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.jpg Size: 189 KB
Today's zone = Tomorrow's opportunity!
  • #15,363
  • Mar 8, 2011 4:15pm Mar 8, 2011 4:15pm
Quoting 1pipperhour
Maybe I misunderstood you but why the hell should I sell if I bought at 1.3000. I should buy more to start panic buying (everybody jump in so they will not miss the train) to sell my euros higher which were bought at 1.3000
The problem is that if you buy more but there IS supply there, that supply will swamp your buying and the price will fall, meaning you're left with stock bought at a higher price when the price is now lower. You are now part of the weak holder club

Even if you're George Soros (or Malc lol) there isn't an endless supply of cash to keep buying - the SM need to sell some in order to buy again.
Blogging daily now at www.volume.zone
  • #15,364
  • Mar 8, 2011 4:15pm Mar 8, 2011 4:15pm
Quoting 1pipperhour
Show me your daily chart.

Here is mine.
For volume that high in compairison to everything I see to the left we didn't get much reaction / ADR over those 2 downbars... Squat bars for you (based on your vol readings) and test / NS for me based on mine... same outlook in my head, back to at least 4280.

But again that is just my uneducated guesstimate
Today's zone = Tomorrow's opportunity!
  • #15,365
  • Mar 8, 2011 4:16pm Mar 8, 2011 4:16pm
Quoting pres78
For volume that high in compairison to everything I see to the left we didn't get much reaction / ADR over those 2 downbars... Squat bars for you and test / NS for me... same outlook in my head, back to at least 4280.

But again that is just my uneducated guesstimate
uneducated my a** quite educated if you ask me
Change is the only constant
  • #15,366
  • Mar 8, 2011 4:17pm Mar 8, 2011 4:17pm
Quoting Dr.Geppynius
Some brokers offer daytrading margin of 500 usd per contract. and do not need you to put 5k in even tough I think there should be 10k on the table since the smallest tick size is 12,5 usd/ tick per contract. nevertheless es is the best to trade in my opinion. just focussing this one instrument and getting to know how it moves is enough.
Once again the good DR. stole my thunder.

Some futures brokers will open an account for 2500 dollars and give you 300-500 dollar margins in the ES. Current day trading margins in the currencies is higher (I have seen as high as 2500 for 6E).
Without VSA, you're playing checkers while the Smart Money plays chess.
  • #15,367
  • Mar 8, 2011 4:17pm Mar 8, 2011 4:17pm
Quoting Steve Gill
Someone agrees with me for a change...you are my new best friend
Trust me there are many better VSA friends to have on here then me... still one of the new guys.
Today's zone = Tomorrow's opportunity!
  • #15,368
  • Mar 8, 2011 4:22pm Mar 8, 2011 4:22pm
Quoting tgwhbb
uneducated my a** quite educated if you ask me
Well I have someone fooled ... I do try to put as much time into looking at what is happening and why and where these reactions / movements could lead as I put into the trades I take. I may change it on a daily basis if I was way off but I at least like to have some type of longer term plan in my head to see if I can hold positions longer than some of my normal in and out intraday trades.
Today's zone = Tomorrow's opportunity!
  • #15,369
  • Mar 8, 2011 4:33pm Mar 8, 2011 4:33pm
Quoting 1pipperhour
Show me your daily chart.

Here is mine.
Your volume is completely different to mine. I am looking at futures volume but for yours to be significantly higher than last week doesn't tie up with esignal's volume. One of us is wrong

I've attached the daily with the adjusted volumes moved along - I've highlighted the last day with volume (Monday).

To compare, I've posted a 1439 mins chart which shows the volume today was slightly higher than yesterday but still distinctly lower than average. Again monday is highlighted for ease of comparison.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 6e daily 8th mar.jpg Size: 208 KB
Click to Enlarge Name: 6e 1439 8th mar.jpg Size: 215 KB
Blogging daily now at www.volume.zone
  • #15,370
  • Mar 8, 2011 4:40pm Mar 8, 2011 4:40pm
Quoting tgwhbb
i'd agree with you on EU. current down move on decreasing volume and testing last week's value high and the H4 bar that tested was on the lowest 4HR volume since at least the beginning of Feb (for the same time period).
Thanks

Quoting tgwhbb
IMO, you have to change position on a daily basis, or at least re-evaluate it, otherwise you are trading based on expectations and not what the chart is telling you!
Agreed 100% - for tomorrow, I'm watching PA around the POC in London open. If we're sitting comfortably above the POC, or testing it on low volume, then longs it is. If we're below, and there is no clear effort to push back through it, then shorts and sun cream it is
Blogging daily now at www.volume.zone
  • #15,371
  • Mar 8, 2011 4:42pm Mar 8, 2011 4:42pm
Quoting FrankSA
Steve, I see an "effort to fall" at the top and a nice retracement to get more stock or pyramid in. That we saw this morning.
Right now the reversal was hardly tested and accumulated. It was too quick. Which IMHO is not the end of the down run. There is a resistance but with lack of interest from the SM. The only way to break that level is to mark it up hard, then drop it. The mark up seems not to be too intense, so I expect it could fall again, then take a hard run up & then down with smaller "loop"....
Are you able to post charts Frank? I'm confused as to what you mean by "effort to fall" ?
Blogging daily now at www.volume.zone
  • #15,372
  • Mar 8, 2011 4:43pm Mar 8, 2011 4:43pm
volumes low on the futures for sure on a down bar , could be some kind of testing of that 1,3920 area.

Quoting Steve Gill
Your volume is completely different to mine. I am looking at futures volume but for yours to be significantly higher than last week doesn't tie up with esignal's volume. One of us is wrong

I've attached the daily with the adjusted volumes moved along - I've highlighted the last day with volume (Monday).

To compare, I've posted a 1439 mins chart which shows the volume today was slightly higher than yesterday but still distinctly lower than average. Again monday is highlighted for ease of comparison.
Blogging daily now at www.volume.zone
  • #15,373
  • Mar 8, 2011 4:44pm Mar 8, 2011 4:44pm
Quoting Steve Gill
Thanks


Agreed 100% - for tomorrow, I'm watching PA around the POC in London open. If we're sitting comfortably above the POC, or testing it on low volume, then longs it is. If we're below, and there is no clear effort to push back through it, then shorts and sun cream it is

So you're thinking a drift up over the Asian session and then perhaps testing around the current price level? Or at least that's what you'd want for a long?
  • #15,374
  • Mar 8, 2011 4:49pm Mar 8, 2011 4:49pm
Quoting KinsaleForex
So you're thinking a drift up over the Asian session and then perhaps testing around the current price level? Or at least that's what you'd want for a long?
Yes, or a drift down (not overly bothered as I can't see Asia breaking today's low) but London marks the price right back up - the key for me is the first hour of Europe and first hour of London IMHO (7am GMT to 9am GMT).

However I'm no expert, there are others far better qualified in this thread than I am. I appreciate your patience in letting me rant on lol
Blogging daily now at www.volume.zone
  • #15,375
  • Mar 8, 2011 4:57pm Mar 8, 2011 4:57pm
Quoting Steve Gill
Yes, or a drift down (not overly bothered as I can't see Asia breaking today's low) but London marks the price right back up - the key for me is the first hour of Europe and first hour of London IMHO (7am GMT to 9am GMT).

However I'm no expert, there are others far better qualified in this thread than I am. I appreciate your patience in letting me rant on lol
I wouldn't call it ranting! I have this thread open about 15/16 hours a day so it's good to have someone willing to contribute for all the hours i'm online for

Main reason I ask is i'm currently long on EU but it's pissing about 2 or 3 pips either side of BE so i'm thinking i'll just close, get to bed and start again tomorrow!
  • #15,376
  • Mar 8, 2011 4:59pm Mar 8, 2011 4:59pm
Quoting KinsaleForex
I wouldn't call it ranting! I have this thread open about 15/16 hours a day so it's good to have someone willing to contribute for all the hours i'm online for

Main reason I ask is i'm currently long on EU but it's pissing about 2 or 3 pips either side of BE so i'm thinking i'll just close, get to bed and start again tomorrow!
I think you may be addicted to FF...
Today's zone = Tomorrow's opportunity!
  • #15,377
  • Mar 8, 2011 5:04pm Mar 8, 2011 5:04pm
Quoting pres78
I think you may be addicted to FF...
Just this thread. I also get the impression you'd be on just as much if you weren't working full time
  • #15,378
  • Mar 8, 2011 5:04pm Mar 8, 2011 5:04pm
Quoting KinsaleForex
Just this thread. I also get the impression you'd be on just as much if you weren't working full time
Perhaps but only for the great company...
Today's zone = Tomorrow's opportunity!
  • #15,379
  • Mar 8, 2011 5:06pm Mar 8, 2011 5:06pm
Quoting pres78
Perhaps but only for the great company...
What can I say, I do my best.
  • #15,380
  • Mar 8, 2011 5:16pm Mar 8, 2011 5:16pm
Quoting KinsaleForex

Main reason I ask is i'm currently long on EU but it's pissing about 2 or 3 pips either side of BE so i'm thinking i'll just close, get to bed and start again tomorrow!
I wouldnt close it. The top will be tested again soon.
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