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vsa with Malcolm

  • #19,141
  • Apr 28, 2011 3:42pm Apr 28, 2011 3:42pm
Quoting millenseed
I put two crossing red lines at the point where I entered. Right after the reverse upthrust. Before the stopping volume...
So you risked 89pips for a possible 51pip gain?

Now that I see where you entered the problem I see is that you entered after two possible SO/stopping volume type bars but you need confirmation on stopping volume and SO bars. You finally get an upbar after that second downbar but look at the drop off in volume... lowest in like 6 bars and a no buying pressure. This would have made me watch the trade closely and cut my loses at BE on that next bar.

I entered after that lower stopping volume bar which was followed immediately by an upbar on even higher volume confirming right away buyers.
Today's zone = Tomorrow's opportunity!
  • #19,142
  • Apr 28, 2011 3:53pm Apr 28, 2011 3:53pm
Quoting Oxford
Bel, which data feed do you have?
Bext,Ox
It's the CQG feed newly tied to NinjaTrader, through Amp.

Don't have any complaints about the feed (but did have a crazy snafu with Ninjatrader opening positions when my target positions were closed out. It then started doubling the position count if I used the flatten command/script, ultimately having to call the helpdesk to close them. And of course Amp washes themselves of the extra hundreds of dollars of commissions "I" induced. )
  • #19,143
  • Apr 28, 2011 4:14pm Apr 28, 2011 4:14pm
Quoting MarcusFire
Is this thing not screaming reversal?
.
anyone else showing that high daily volume today? my brokers daily volume is about 75% of yesterday's...
Change is the only constant
  • #19,144
  • Apr 28, 2011 4:42pm Apr 28, 2011 4:42pm
Quoting tgwhbb
anyone else showing that high daily volume today? my brokers daily volume is about 75% of yesterday's...
Nope mine is not higher than yesterday.
Today's zone = Tomorrow's opportunity!
  • #19,145
  • Apr 28, 2011 4:43pm Apr 28, 2011 4:43pm
Quoting tgwhbb
anyone else showing that high daily volume today? my brokers daily volume is about 75% of yesterday's...
Not mine. Showing slight increases over the past 3 days.
  • #19,146
  • Apr 28, 2011 4:49pm Apr 28, 2011 4:49pm
Quoting pres78
Nope mine is not higher than yesterday.
Mine actually looks like a ND. We could be instore for a retrace over Firday and Monday down into 4600 level for a newed move to the topside and a new yealy high next week. A bit of a royal wedding break for the bulls.
Today's zone = Tomorrow's opportunity!
  • #19,147
  • Apr 28, 2011 6:02pm Apr 28, 2011 6:02pm
Quoting pres78
So you risked 89pips for a possible 51pip gain?
Well... As I said earlier, I am *REALLY* inexperienced. Not on VSA, on trading in general. That is, practical trading. I've read quite a lot, but haven't really had the time to apply those things. So yeah, I expect my first 50-100 (demo) trades to contain quite a few nonsensical ones. It's part of learning, isn't it?

On a different note, how do you find which assets to trade? Especially when you don't have the time to analyze many of the available ones?
  • #19,148
  • Apr 28, 2011 6:06pm Apr 28, 2011 6:06pm
Quoting millenseed
Well... As I said earlier, I am *REALLY* inexperienced. Not on VSA, on trading in general. That is, practical trading. I've read quite a lot, but haven't really had the time to apply those things. So yeah, I expect my first 50-100 (demo) trades to contain quite a few nonsensical ones. It's part of learning, isn't it?

On a different note, how do you find which assets to trade? Especially when you don't have the time to analyze many of the available ones?
I focus on 3 primary ones... EU, GU and Oil. I work fulltime so this is all that I can watch and trade from work in the limited time I have. Also I rely heavily on my MT4 email alerts to tell me when I am in an area of interest. I do also trade ES some times but that's about it. Never could get a good feel for Gold or Silver so I avoid these.

Also wasn't trying to come accross rude with my comments just shocked me a bit... if you keep working with VSA it will come and never stop asking questions and looking for feedback.
Today's zone = Tomorrow's opportunity!
  • #19,149
  • Apr 28, 2011 7:30pm Apr 28, 2011 7:30pm
good evening all. came back for a pretty good break.

volume in pre asia looks normal compare to yesterday, EXCEPT for this hour- volume has slowed/stopped (ND - due to partial profits from us open).

now until london.
  • #19,150
  • Apr 28, 2011 8:25pm Apr 28, 2011 8:25pm
Nice shakeout and NS in Asia (just after 9am EST). Significant Asia futures volume and a few strong wide spread bars; I use the 4M to show and separate the buying that causes upthrusts and No Supply's, since much of this happens in the last minutes of a 5M. Seeing good and NY afternoon comparable buying volume in my spot feed too. (6E futures chart is shown) Could still fail for longs, but potential is there to head to spot 1.4835 that's developed as a point of control.. Chart is as of 21:23 EST - watching the current M15 candle being built. Any SL on spot would be closer down at 1.48 (which in it's self is a reason for the stopping volume - that's where the buyers were)

EDIT: Meant to mention, should the move up fail, support still available at (spot's) prev high of 1.47946.
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  • #19,151
  • Edited 1:57am Apr 29, 2011 1:39am | Edited 1:57am
Quoting malcolmb14
I use a chandelier stop ... setting atr 14 with a 2.5 fcator , 1 hour chart stops mostly 60 pip , 15 min 30 pip and 5 min can be as low as 17 pip
Thank you malcolm!

Are you using 2.5 factor on 15M and 5M chart too? I'm using an ATR trailing stop and if I set the factor at 2.5 it is very far from the price.
  • #19,152
  • Apr 29, 2011 3:31am Apr 29, 2011 3:31am
Confusing with this bar. It is upthrust (weakness) or just down bar with HVolume (strength)?

Here I look only for long setups. In my opinion this market wants to go higher, but not right now.
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  • #19,153
  • Apr 29, 2011 4:12am Apr 29, 2011 4:12am
Quoting V_2008
Confusing with this bar. It is upthrust (weakness) or just down bar with HVolume (strength)?

Here I look only for long setups. In my opinion this market wants to go higher, but not right now.
I think it is an hidden upthrust (because it is actually an down bar) and is a sign of weakness. Although it is a down bar it shows weakness because it is making an higher high. But you have to wait for ND appearing after a break below the trading range.
  • #19,154
  • Apr 29, 2011 4:41am Apr 29, 2011 4:41am
What about yesterday's upthrust on the daily chart of the GU? Any thoughts?
  • #19,155
  • Apr 29, 2011 6:39am Apr 29, 2011 6:39am
Quoting tgwhbb
anyone else showing that high daily volume today? my brokers daily volume is about 75% of yesterday's...
I'm using FXCM and the day ends at 5PM Eastern US time. So that chart was posted near the end of the "day". Maybe your day ends later, and therefore your volume would be lower at that time?

How does yesterday's volume look on yours now?
  • #19,156
  • Apr 29, 2011 7:02am Apr 29, 2011 7:02am
Quoting MarcusFire
I'm using FXCM and the day ends at 5PM Eastern US time. So that chart was posted near the end of the "day". Maybe your day ends later, and therefore your volume would be lower at that time?

How does yesterday's volume look on yours now?
my broker must be playing tricks with the daily volume. its now much higher than it was at 5PM eastern yesterday, a bit lower than Thursday still.
Change is the only constant
  • #19,157
  • Apr 29, 2011 10:17am Apr 29, 2011 10:17am
Potential for this last low to hold is waning. Bearish bar prints underway. Volume buying was decent but it appears sellers are trying to control and supply is overcoming. As/If we go lower, look to 48212 open for support and then 1.48. Am thinking weekend selling is underway now - let's see what happens into this NY lunch hour; S&P too having trouble getting off the launchpad.
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  • #19,158
  • Apr 29, 2011 10:55am Apr 29, 2011 10:55am
What is the right way to set PT and SL level when we open 2 lots? If I put a SL at 30 pips and I take profit with 1 lot when I reach 30 pips profit, then I risk 2 * 30 pips to win 30 pips. And my risk/reward ratio is greater than 1 only if the trend continue and I can win at least 30 pips with the second lot. Is that right? Should I put the PT at 60 pips?
  • #19,159
  • Apr 29, 2011 11:15am Apr 29, 2011 11:15am
Quoting dvarrin
What is the right way to set PT and SL level when we open 2 lots? If I put a SL at 30 pips and I take profit with 1 lot when I reach 30 pips profit, then I risk 2 * 30 pips to win 30 pips. And my risk/reward ratio is greater than 1 only if the trend continue and I can win at least 30 pips with the second lot. Is that right? Should I put the PT at 60 pips?
I trade 2 lots on all my trades and I go for 1:1 on the first lot and then would move to BE (depending on size of original SL) on the second lot and let it ride. So yes you are risking say 60 pips to possibly only make 30 or even -60. But you could also make 30 on lot 1 and decide to close lot 2 at 30 also for 60 gained off 60 risked. You could also make 30 pips on lot 1 and say 60 pips on lot 2 for 90 pips gained off 60 pips risked.

Aiming for 2:1 right off the bat and trading 2 lots is very risky as a normal SL is say around 25 pips and now you are aiming for 50 which trading intraday charts is quite high.

Me personally I would rather close out lot 1 at 1:1 and then let lot 2 ride now as a free trade. Even if I left my SL alone and hit it on lot 2 I still walk away BE.
Today's zone = Tomorrow's opportunity!
  • #19,160
  • Apr 29, 2011 11:24am Apr 29, 2011 11:24am
Quoting PipPipPip
good evening all. came back for a pretty good break.

volume in pre asia looks normal compare to yesterday, EXCEPT for this hour- volume has slowed/stopped (ND - due to partial profits from us open).

now until london.
asia looks like it slowed, and LO reversed. us is back at where the day opened. volume has slowed to reach for a new high top (Upthust/nd). imho, id like to see mid week entry for a new high for the next quarter.

commoidities is still rallying reaching new highs, while treasuries are still dropping. I can only say that the dollar index is still on.
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