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vsa with Malcolm

  • #15,921
  • Mar 11, 2011 1:13pm Mar 11, 2011 1:13pm
all the trades i missed today, really really pi55ed. on eu just missed the long off the DB at 3790 half hour before london open, then missed the short off 3840 which i was watching but had to leave for work, and THEN missed the long from 3750/60 cos the project manager happen to be sitting right behind me today so couldnt open my laptop. and all 3 are definitely ones i would have taken. and after waiting alllll week for some decent moves as well.
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  • #15,922
  • Mar 11, 2011 1:16pm Mar 11, 2011 1:16pm
Quoting Beljevina
On the live platform? That's terrible. Frankly, I think their MT4 implementation is nothing to write home about - it's a minor gripe I suppose, but they write over the comment field to index things back to their already in-place trading environment. And their margin is silly - with a $10K account, I can't buy more than 2 lots, and then you get 'off quotes' message, which is their way of saying 'you have to more buying power.'

Check out MB Trading if you're staying (US) onshore? Their performance and up time is quite good IMO, and I comfortably...
Thanks! I will check them out. How are their execution across their timeframes? do they all match up?

Oanda- Their FxTrade platform is good, but timeframe really blows. they have a 3 hour timeframe. . That is why I went with their MT4 platform. Yes, great timeframes, BUT I am a little skeptic about what happen the past week... Their margin IS silly. In addition, the 4 hour chart was off by over 20 pips on closing for today on all candles. I called them and they told me that technicians are working on it. They said I am the only one in a few that is experiencing in the problem. I thought it was weird, because if i am the only one in a few, then shouldn't they take down my account info? Instead they said do not worry? I am a little worried now... They just didn't seem too helpful and concern of where I was coming from...
  • #15,923
  • Mar 11, 2011 1:18pm Mar 11, 2011 1:18pm
Quoting ewokuk
yeah I have a small oanda account (which was my main account for most of the last 2 years), they only give 50:1 leverage, i can open trades so much bigger on my other account (and wipe out even quicker!! lol)!...
Interesting comments and perspective. I'm a huge hater of software that needs additional layers of CPU time and memory, such as anything java based - there is just no way it will be faster/better/more stable than something (properly) written/compiled for Windows. Having said that, Oanda's (java) fxTrade is probably the quickest one out there.

This in contrast to CMC's package, which I found insanely slower, non-windows standard and lacking major features like volume (!). I had the CMC rep wooing me for ages, but I (politely) gave him a piece of my mind - I firmly believe many companies design their software to 'look good' but lack certain features that can make a trader profitable. The fact that CMC is a "market-maker" (of unknown liquidity) doesn't sit that well with me. (They were also exposed for wrongdoing in Australia and are despised there.) And now, they're losing Ashraf - other than their proprietary trading, I'm not sure how their retail division(s) stay in business.
  • #15,924
  • Mar 11, 2011 1:24pm Mar 11, 2011 1:24pm
Quoting ewokuk
all the trades i missed today, really really pi55ed. on eu just missed the long off the DB at 3790 half hour before london open, then missed the short off 3840 which i was watching but had to leave for work, and THEN missed the long from 3750/60 cos the project manager happen to be sitting right behind me today so couldnt open my laptop. and all 3 are definitely ones i would have taken. and after waiting alllll week for some decent moves as well.
I have to add ... I never thought we'd get one of those Friday afternoons where we just melt-up on low volume - just didn't seem the right time or conditions for something like that to unfold - you almost always get that on overstated & misplaced positive sentiment ... they're really running this up and we're looking to park above 1.39. Will make for a very interesting weekly close, and what to look forward to next week ... I refuse to buy that we're not dropping back down to do a 1.38 test next week. (which was today's open) - it's all part of the game, isn't it!
  • #15,925
  • Mar 11, 2011 1:27pm Mar 11, 2011 1:27pm
Quoting PipPipPip
Alright, i looked over the definitions, and trying to put an understanding with my own understanding of charts.

(4hr)If today can close at the new resistance, and below the high 1.3928 (high volume?), we might see a touch of early march's weekly. There looks to be some volume there with this week's bar ending. If we do close at above today at that range (3928), I hope it will hold above march 3rd week's volume bar if we go down again next week. and up we go?

Today's 4hr tested the area of Feb 27th which followed the previous 4hr bar at the same...
Wow tried to follow all of that... I see simply this. The pattern for the last 2 days if we close today near the daily high is a sign of strength as it is a hidden test bottom reversal pattern. Next week will be an upbar week with at least 4100-4150 being tested by the end of the week. We should get back to that old recent high at 4030 by end of trading day Tuesday / early Wednesday.

Will evaluate more this weekend to come up with my preferred entry locations that I will be watching but these get updated daily and on the fly as set-ups occur. I like to have a plan each day though so I can set emails alerts for when price gets into a zone of interest.

Look at today... I called a trade off re-test of 3785 (or higher up at 3830/3840) and it ended up working out later in the day... I adjusted however to my long bias and even rode the bears train down for some pips.

Until you get fully comfortable with VSA don't get yourself too hung up with longer term projections. Watch for the basic set-ups in high volume / previous supply demand zones and you will be successful.
Today's zone = Tomorrow's opportunity!
  • #15,926
  • Mar 11, 2011 1:27pm Mar 11, 2011 1:27pm
im not sure how quick it was, my pc at some is still reasonably fast but i did manage to run it ok on the 10" netbook that i am forced to trade with every day from work. i liked the features, and they have now added ability to move the orders around on the chart like oanda. but yeah i wasnt sure about the company so went with capital spreads who seemed to have a good reputation (but a crap platform). im now starting to notice their slightly dodgy practices such as not opening on sunday until 3 mins after the usual 10pm GMT open, no excuse for that other than it makes them money for various reasons). their minimum order and stop distances are also very big. cant move stop closer than 6 pips of current price on eu, and 2 whole points in ES!!!!

Quoting Beljevina
This in contrast to CMC's package, which I found insanely slower, non-windows standard and lacking major features like volume (!). I had the CMC rep wooing me for ages, but I (politely) gave him a piece of my mind - I firmly believe many companies design their software to 'look good' but lack certain features that can make a trader profitable. The fact that CMC is a "market-maker" (of unknown liquidity) doesn't sit that well with me. (They were also exposed for wrongdoing in Australia and are despised there.) And now, they're losing Ashraf - other...
  • #15,927
  • Mar 11, 2011 1:32pm Mar 11, 2011 1:32pm
Quoting PipPipPip
Thanks! I will check them out. How are their execution across their timeframes? do they all match up?
Just to clarify: I'm not actually their customer ... been mulling it over though - check their thread over in the Broker section of FF (but watch out for the wing-nuts). I still have to examine their MBT Desktop Pro platform, but MT4 looks & reads fairly solid, plus, you can trade 0.01 lots (or 1,000) which is actually 0.1 in their MT4 implementation.

As an aside, my buy USDCAD ain't workin' out ... turns out to be one of those stupid sell the US buck days ... and buy the yen ... I wonder what happened to USD when California last had a major quake?
  • #15,928
  • Mar 11, 2011 1:34pm Mar 11, 2011 1:34pm
Quoting Beljevina
I have to add ... I never thought we'd get one of those Friday afternoons where we just melt-up on low volume - just didn't seem the right time or conditions for something like that to unfold - you almost always get that on overstated & misplaced positive sentiment ... they're really running this up and we're looking to park above 1.39. Will make for a very interesting weekly close, and what to look forward to next week ... I refuse to buy that we're not dropping back down to do a 1.38 test next week. (which was today's open) - it's all part of...
I really was looking for sells only today. I saw the strength but never thought it will make any mentionworth move up. So I take time this weekend and I really will get into supply/demand theme again. There seems to be much that I'm missing.
  • #15,929
  • Mar 11, 2011 1:39pm Mar 11, 2011 1:39pm
Quoting pres78
Now moved to 3930 BE+40
After mixed sentiment on my part I closed out at 3890 for a nice 100 pips on lot 2 to end the week. Above the ADR, end of day, too cheap to pay the weekend swap charges etc...

May regret not holding this as a long term position when we hit 1.5 but I will deal with it.
Today's zone = Tomorrow's opportunity!
  • #15,930
  • Mar 11, 2011 1:43pm Mar 11, 2011 1:43pm
Quoting Beljevina
I refuse to buy that we're not dropping back down to do a 1.38 test next week. (which was today's open) - it's all part of the game, isn't it!
i would expect to see a move back to test 3850-55 and then up, not convinced itll go lower than that, it might but 3850 should be fairly strong, and I am expecting it to break 4000 again next week and likely head towards 4250. what i do know is when it gets back to 3855 ill be sitting there ready to pounce like a cat if i see buying volume on it, hopefully i dont miss it, probably will.

what will hurt next week after missing all them trades today is if the next trade is a loser.
  • #15,931
  • Mar 11, 2011 1:45pm Mar 11, 2011 1:45pm
Quoting 1pipperhour
I really was looking for sells only today. I saw the strength but never thought it will make any mentionworth move up. So I take time this weekend and I really will get into supply/demand theme again. There seems to be much that I'm missing.
Pull up a 4hr, Daily and then weekly chart ignoring volume and look at the zone we moved into on the downmove over the last week... you will see that we have been here before many times with various reactions.

Also what was the last major reaction when we were in this zone... look at where we were when we hit that high on Feb 2, 2011 on the daily chart...
Today's zone = Tomorrow's opportunity!
  • #15,932
  • Mar 11, 2011 1:51pm Mar 11, 2011 1:51pm
Quoting Sonofsin5
I really like this. Check out the daily as well.
Update, stop moved to BE. Could be a nice move come sunday.
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  • #15,933
  • Mar 11, 2011 1:54pm Mar 11, 2011 1:54pm
Quoting Sonofsin5
Update, stop moved to BE. Could be a nice move come sunday.
That daily GU bar is looking quite a lot like a SO / test down into that previous supply / conjestion zone.
Today's zone = Tomorrow's opportunity!
  • #15,934
  • Mar 11, 2011 2:00pm Mar 11, 2011 2:00pm
Quoting pres78
Pull up a 4hr, Daily and then weekly chart ignoring volume and look at the zone we moved into on the downmove over the last week... you will see that we have been here before many times with various reactions.

Also what was the last major reaction when we were in this zone... look at where we were when we hit that high on Feb 2, 2011 on the daily chart...
Feb 3rd we went right through this zone. We came back to test the are on Feb 9th. It was zigzaging throughout Feb 23-28. Then we tested again on March 1st and on March 2nd we took off at it. So yesterday we came back to test that area again.
  • #15,935
  • Mar 11, 2011 2:02pm Mar 11, 2011 2:02pm
Quoting pres78
After mixed sentiment on my part I closed out at 3890 for a nice 100 pips on lot 2 to end the week. Above the ADR, end of day, too cheap to pay the weekend swap charges etc...

May regret not holding this as a long term position when we hit 1.5 but I will deal with it.
Great decision! Ya, it really does not look like it will move another 40-50 pips in the next 2 minutes. Seriously, better to be safe than sorry.

Now we can start on the same page next week.

Give me a head start, because I am switching screens for definitions I read everyone's comments here.

Quoting Beljevina
Just to clarify: I'm not actually their customer ... been mulling it over though - check their thread over in the Broker section of FF (but watch out for the wing-nuts). I still have to examine their MBT Desktop Pro platform, but MT4 looks & reads fairly solid, plus, you can trade 0.01 lots (or 1,000) which is actually 0.1 in their MT4 implementation.

As an aside, my buy USDCAD ain't workin' out ... turns out to be one of those stupid sell the US buck days ... and buy the yen ... I wonder what happened to USD when California last had a major...
Ya, I know huh? You are really asking the wrong person about catastrophe. Well, the quake in japan may be a benchmark. Over 300 people died, and major buildings and infrastructures was said that there will be over 100 billion jpy of funding needed for recovery. That is a lot of dough. depending how much effect that has on the dollar, can effect our borrowing towards CAD. It is definitely something to look at. Lots of dollars going around after today's news.
  • #15,936
  • Mar 11, 2011 2:05pm Mar 11, 2011 2:05pm
USDJPY might be a good investment right now if played right. There is still aftershock in Japan!
  • #15,937
  • Mar 11, 2011 2:05pm Mar 11, 2011 2:05pm
Quoting 1pipperhour
Feb 3rd we went right through this zone. We came back to test the are on Feb 9th. It was zigzaging throughout Feb 23-28. Then we tested again on March 1st and on March 2nd we took off at it. So yesterday we came back to test that area again.
Exactly... lots of action in this area just over the last month (this zone has been played many times last year as well after a quick scan)... supply and demand at work within the same zone at different times. Also look at the reversal from this zones bottom levels on Jan 28th... before pushing up through. SM tends to use and visit the same zones time and time again and use the reactions within the zone to determine their next stop.
Today's zone = Tomorrow's opportunity!
  • #15,938
  • Mar 11, 2011 2:16pm Mar 11, 2011 2:16pm
Quoting PipPipPip
Great decision! Ya, it really does not look like it will move another 40-50 pips in the next 2 minutes. Seriously, better to be safe than sorry.

Now we can start on the same page next week.

Give me a head start, because I am switching screens for definitions I read everyone's comments here.



Ya, I know huh? You are really asking the wrong person about catastrophe. Well, the quake in japan may be a benchmark. Over 300 people died, and major buildings and infrastructures was said that there will be over 100 billion...
300??? No way. Remember Thailand and other countries in the same area 2004. There was the same, 80 000 -100 000 first which appeared to be 225 000 later on.
  • #15,939
  • Mar 11, 2011 2:22pm Mar 11, 2011 2:22pm
Quoting pres78

May regret not holding this as a long term position when we hit 1.5 but I will deal with it.
There is too much at state. I relooked at the weekly. back in October 24 -31 1.3942 open 1.4030 close. With the week to close under its opening, 4030 can be closed end of next week with very LOTS of resistance. Or it can shoot straight up to 1.4259 end of next week. Either way, I see at least 1.4030 being tested. Also, the daily seems to hold strong support above Feb 1 high. And like you said SOS formED on today's candle.

EDIT: Oh, and Feb 27th week has already closed above 1.3942 of October 24-31. I don't what that means with this ending week's down bar.....
  • #15,940
  • Mar 11, 2011 2:34pm Mar 11, 2011 2:34pm
don't overthink the happening of the last week/ two trading weeks.

we had last trading day of march 2011 (h11) equity & currency futures today so it is nothing uncommon to close out the march futures and roll over to the june contract (m11)

sell out and buy back front month.
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