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vsa with Malcolm

  • #19,361
  • May 6, 2011 11:11am May 6, 2011 11:11am
Quoting Robbin Banks
guys ..ive ben following your work here for about a week or so and have to say im impressed..ive been trading FX for 5 years and just cant seem to make it work..win 1 lose 2 kinda thing..ive come to realize quickly that indies just dont work..so ive been fibbing for years ..which also is a very tough thing to do..so i say all that to say this...you guys have made some incredibly accruate remarks regarding the market , BEFORE HAND!!....and im now thoroughly convinced that this vsa may be the only real chance a guy has at thriving in this game..i...
Welcome and you've come to the right place to start the path to successful trading. I think those who post here and who have been following along regularily would agree that VSA once mastered takes your trading to a whole new level. Myself I started with VSA and following this thread around October 2010 and in a short 7-8 months have gone from a barely BE trader to one that is able to add to my account at the end of every month. I followed along quiety at first and it wasn't until this year that I started to become a more active poster and sharing my charts and insights. The first time I read MTM it just zoomed right over my head but with the help and charts of guys like Malc, Hidden Gap, Dr G, Intel and Sono (just to name a few) I was able to start making sense of it all. Once I started to see some of what I read on the charts being posted and in my own charts as I followed along I went back and re-read MTM and boy oh boy was it ever much more clear. VSA really seems dauting at first but once that light bulb goes off it all becomes much more clear and you are able to start seeing the signs that SM leave all over the charts. Does VSA get it wrong... sure but it also allows you to get out with minimal SL and many times back in with another set-up.

Once you master the basics many of us also trade using triggers which you will find IMHO a nice tool to add into VSA and I believe that for many looking for VSA set-ups into the trigger levels has made VSA that much easier to trade successfully.

Once you get through MTM start looking at charts from the guys mentioned above and it will all start to make more sense...

Again welcome and best of luck on your journey.
Today's zone = Tomorrow's opportunity!
  • #19,362
  • Edited 11:49am May 6, 2011 11:33am | Edited 11:49am
hey thank you man for the kind resopnse...yes theMTM is tough to follow(thats why i asked about the tradegider software) but alot of it makes alot of sense..why even after 5 years of trading does everytime i hit the button the market go the other way!!!LOL....there must be a reason and there must be a way to know and be on the right side..i can now see why a little guy stands a small chance with the standard indies provided on a platform..its obvious SM is the answer..it has to be, ive done evrything else there is!!!LOL.volume seems to be the only thing doesnt lag and if read properly can give correct foresight...ive been folowing along and isee guys making unbelievable calls, in foresight!..i see a few guys missing as well and i expect that..im not nieve and im not newbie by any means..ive managed to stay afloat trading for 5 years (full time, 1year)...but just cant seem to break ahead..its exhausting..i readsome post about a guy named hardpippin who made some consecutively remarkable calls and that he uses VSA to do so..which brought me here ..read malcum's post and was floored by he's read of the market!!! i dont expect a crystal ball..i just expect some type of reward for hard work and a well honed skill...i know this trading thing can be done and done well even as a little guy!!..thanks again for the response ..ill be following all of ya"lls post very closely!! have a good weekend...regards,RB
  • #19,363
  • May 6, 2011 11:34am May 6, 2011 11:34am
Quoting dvarrin
Stupid price!!! It can not simply go up without putting the mess!!
Interesting Friday no doubt - the Der Speigel Greece leaving EU rumour is doing wonders - 100 pips in <15 min! True, or an opportunity to long is best waited out.

Should there be any truth to it, it would not only be a euro pairs crisis, but a major blow to the whole Orwellian eurozone story - there are many unhappy member states - one leaving opens the door to a major crisis - and multi-hundred pip movements! (ie., think: League of Nations in recent history)
  • #19,364
  • May 6, 2011 11:48am May 6, 2011 11:48am
see this is an example of exactly what i was talking about...i shorted eu right after NFP at 4480..it ran to 4560 so i dumped it..now it has come back down to 4380!!!! you VSA vetrens are probably thinking "why would you enter there and exit there?"..good question ! was just wondering that myself!! LOL..was it possible to see ,using VSA, in advance ,that the move up on NFP was short lived?..im only on pg 30 of the book and its a bit complicated to grasp at first..so im wondering was it even possible to see that short was the play of the day on eu? or am i way off base? thanks for any response...RB
  • #19,365
  • May 6, 2011 11:53am May 6, 2011 11:53am
i see your eu15m chart..im wondering where you said no long until break of 4580 ( and it went right up to it) if this was your clue that short was the move for the day...was it possible to see that the NFP run up was short lived using VSA? regards,RB
  • #19,366
  • May 6, 2011 11:57am May 6, 2011 11:57am
Quoting Robbin Banks
guys ..ive ben following your work here for about a week or so and have to say im impressed..ive been trading FX for 5 years and just cant seem to make it work..win 1 lose 2 kinda thing..ive come to realize quickly that indies just dont work..so ive been fibbing for years ..which also is a very tough thing to do..so i say all that to say this...you guys have made some incredibly accruate remarks regarding the market , BEFORE HAND!!....and im now thoroughly convinced that this vsa may be the only real chance a guy has at thriving in this game..i...
Great to have you RB! There's certainly no easy road to VSA, but that is the case in life for most things of lasting value and usefullness. I think ultimately everyone develops their own way of drawing conclusions from chart volume interpretation - that BTW I think end up being highly uniform. I am far from a VSA master, but I primarily trade shakeouts and confirm upthrust ends - on various timeframe charts. As Malcolm said: you won't go broke trading those. Trigger bars are a huge sub-method as well. Coupled with S/R and IMO trendlines and key levels like days worth of opens/closes/highs/lows, VSA offers much profitability potential.

Many do not go the Tradeguider software route and I think in a sense the learning without it sticks with one better. MTM is key, along with lots of web resources, and reading the thread here and the other one now in the commercial section, and tons of dedication and opinion comparison.
  • #19,367
  • May 6, 2011 12:04pm May 6, 2011 12:04pm
Quoting Robbin Banks
see this is an example of exactly what i was talking about...i shorted eu right after NFP at 4480..it ran to 4560 so i dumped it..now it has come back down to 4380!!!! you VSA vetrens are probably thinking "why would you enter there and exit there?"..good question ! was just wondering that myself!! LOL..was it possible to see ,using VSA, in advance ,that the move up on NFP was short lived?..im only on pg 30 of the book and its a bit complicated to grasp at first..so im wondering was it even possible to see that short was the play of the day on...
VSA or not I would recommend waiting at least for one (or two) 15min bars to close after major news events to save yourself from the spikes and to wait and see what the final direction may be. Infact one could have held out until 3hrs after NFP and gotten in short off a nice ND with entry on the next bar at the low around 4498ish... what was nice about this ND was that it's high was right into yesterday's low... So we moved back below after that double SO post NFP and then came back up to "test" the low from yesterday with a ND... clear enough SM have no interest in breaking back through and a short it is. Was I around to take it? Hell no.
Today's zone = Tomorrow's opportunity!
  • #19,368
  • May 6, 2011 12:10pm May 6, 2011 12:10pm
I'M SO BAD IN VSA!!! :-(((((((((((((( I'm looking funny with my predictions!

Oversold!!!! Now it's very very very oversold as I can see :-((
  • #19,369
  • May 6, 2011 12:14pm May 6, 2011 12:14pm
Quoting Robbin Banks
see this is an example of exactly what i was talking about...i shorted eu right after NFP at 4480..it ran to 4560 so i dumped it..now it has come back down to 4380!!!! you VSA vetrens are probably thinking "why would you enter there and exit there?"..good question ! was just wondering that myself!!...
Just a couple of things - entering right after the biggest monthly news release is fraught with risk. I usually wait for a few M15 bars (M5s are there to confuse IMO) judge the key resistances/supports, interpret volume, check 6E futures (in my case) and decide from there.

The Der Speigel story is really a crystal ball exercise, which no one can foresee. But, once it is out, the immediate reaction can be assumed, given the PA yesterday. Even with VSA, stops should be used, relative to one's account size - no one can foretell black swan events that will impact the fx market, ie., on 9/11, EURUSD fell 500 pips.

And, there's nothing wrong with staying out when things aren't making sense - today might be such a day. It is not hard to catch a 20 pip move - many of them in VSA - but when the market drops and move 100 pips in 15 minutes, it can be financially dangerous - this is one of the reasons I try to closely follow the S&P and US equities during that session, as well as overall market sentiment (ie., risk on, risk off) - you usually don't want to trade against the trend(s).
  • #19,370
  • May 6, 2011 12:25pm May 6, 2011 12:25pm
thanks to each of you for the response...seems a great group of dedicated traders..that i like!!..ok well ill look at the SMART VSA program..i understand getting a good grasp from the begining ..just wondering if software might curve the learning curve!!! but i dont mind putting my time or money into something solid either...yes my NFP trade was a rookie mistake...stupid idea!!! i truely KNOW BETTER than to play with NFP...dumb move...but no problem...moving on!...well its clear i need to finish the MTM and continue following the thread...i have no idea what ND and such is, but i will not bother everyone with simple questions that i can go find the answers to myself in the book...thanks again to all for the welcoming and i really look forward to a fresh start next week ..ill try to have the MTM book read by then...regards, RB
  • #19,371
  • May 6, 2011 12:25pm May 6, 2011 12:25pm
Quoting pres78
Welcome and you've come to the right place to start the path to successful trading. I think those who post here and who have been following along regularily would agree that VSA once mastered takes your trading to a whole new level. Myself I started with VSA and following this thread around October 2010 and in a short 7-8 months have gone from a barely BE trader to one that is able to add to my account at the end of every month. I followed along quiety at first and it wasn't until this year that I started to become a more active poster and sharing...
I think I'll do the same! I'll follow this thread more quietly so my bad trades won't disturb the advices of the VSA pros here.
  • #19,372
  • May 6, 2011 12:33pm May 6, 2011 12:33pm
Quoting dvarrin
I think I'll do the same! I'll follow this thread more quietly so my bad trades won't disturb the advices of the VSA pros here.
We are all here to learn and no better way to learn than by posting what you see for trades whether good or bad and let others offer up their comments on them. No one is here looking for signals and therefore good or bad trades shouldn't make any difference. Infact some of the other VSA newcomers can learn as much from why a trade didn't work out as compared to one that did... we need to keep an open mind and explore all sides good and bad.

Keep sharing and learning... it will come.
Today's zone = Tomorrow's opportunity!
  • #19,373
  • May 6, 2011 12:34pm May 6, 2011 12:34pm
So interesting fact... 38.2 fib retrace of this years upmove is at 4150... and what is 4150? The low of that 4/18/2011 Monday SO bar... HMMM!!!!!

If we get there will be interested to see if we get another 800 pip bounce.
Today's zone = Tomorrow's opportunity!
  • #19,374
  • May 6, 2011 12:38pm May 6, 2011 12:38pm
yes i couldnt agrre more..its why i went short...which i guess would be against the daily trend but i was looking no more than 1h.. figured if it ran up some itd come right back...just wasnt prepared for that big of run..bad idea on my part ..I do KNOW BETTER, really!..i used to only trade news, years ago!!..not my thing!!! heres the thing...im reading ivonivons post where he says no demand..not going long unless a break of 4580...i dont know what he REALLY was saying by that..did he mean jsut that..wont go long unless break of 4580 and if no break of 4580 staying out!!!...or could that be read no break of 4580 and no demand, good place to short??? i guess thats a question best answered by him but in hindsight thats a damn good call in my book!!! price went to 4572!!!! didnt break 4580 and he said no demand..now could that be a good sign to short? or am i just over reading the possibility to have known that in foresight?...hope thats not to confusing ..not sure how else to express what im asking...regards,RB
  • #19,375
  • May 6, 2011 12:46pm May 6, 2011 12:46pm
i totally agree with the group..theres something about posting calls ,even if there wrong , that makes you a better trader...its like practicing an instrument at home versus going out and playing in front of people..ya gotta do it if you expect to get better i think...id really like to see a chart of why you thought we were oversold and now in hindsight why was that a misinterpritation..or rather what changed!!..i for one could really benfit from any call in foresight..even if its to learn by mistake...regards,RB
  • #19,376
  • May 6, 2011 12:52pm May 6, 2011 12:52pm
i will truely try to avoid redundant newbie questions that i can answer on my own..but i gotta ask..what do i need on my charts to begin following along?..is it the Better Volume indie? or is there another..and as i understand it watching the ES futures is is used on account of EU runs with it (mostly) and has better volume accuracy..is that correct? just trying to get set up here...thanks, regards, RB...one other... 6E, what is that, please?
  • #19,377
  • May 6, 2011 1:01pm May 6, 2011 1:01pm
Quoting Robbin Banks
yes i couldnt agrre more..its why i went short...which i guess would be against the daily trend but i was looking no more than 1h.. figured if it ran up some itd come right back...just wasnt prepared for that big of run..bad idea on my part ..I do KNOW BETTER, really!..i used to only trade news, years ago!!..not my thing!!! heres the thing...im reading ivonivons post where he says no demand..not going long unless a break of 4580...i dont know what he REALLY was saying by that..did he mean jsut that..wont go long unless break of 4580 and if no break...
Won't try and answer for Ivon but 4585 was the daily high and might be why he chose that as a safe level to get in long if the right set-up appeared above that point. In all honesty if one had waited a few 15min bars after NFP we saw this;

1. Move, down and close well off the low on the highest volume of the day. SO type bar.
2. Upbar confirming SO
3. Now let's say we take that confirmed SO and go long on the break of the high of bar 2 at 4533... when the next bar goes up towards the daily high with a wide spread and volume lower than the previous 2 I start to say OK we are going up and volume is going down. Bar 3 is a no buying pressure. Now don't get me wrong we have seen before where price just drifts up and up on no volume but this soon after news seems that much more fishy. The close of this bar would be a good time to book some profits and move the rest to BE since we have moved up over 35 pips from entry.
Today's zone = Tomorrow's opportunity!
  • #19,378
  • May 6, 2011 1:04pm May 6, 2011 1:04pm
Quoting Robbin Banks
i will truely try to avoid redundant newbie questions that i can answer on my own..but i gotta ask..what do i need on my charts to begin following along?..is it the Better Volume indie? or is there another..and as i understand it watching the ES futures is is used on account of EU runs with it (mostly) and has better volume accuracy..is that correct? just trying to get set up here...thanks, regards, RB...one other... 6E, what is that, please?
I've probably talked too much ... you don't need to be watching ES - I threw it out there as a possible aid, but in hindsight it is probably more confusing to someone starting out. 6E are the futures contracts of EURUSD, and likewise is not necessary in any way - sorry for the confusion.

Certainly the BetterVolume indi is the requisite, along with (hopefully) a decent amount of tick/volume data from whomever your MT4 broker is, or a demo from one of the biggies. I'd recommend a support and resistance indi that you're used to - your choice if it goes on the same chart or elsewhere.
  • #19,379
  • May 6, 2011 1:06pm May 6, 2011 1:06pm
Quoting Robbin Banks
i will truely try to avoid redundant newbie questions that i can answer on my own..but i gotta ask..what do i need on my charts to begin following along?..is it the Better Volume indie? or is there another..and as i understand it watching the ES futures is is used on account of EU runs with it (mostly) and has better volume accuracy..is that correct? just trying to get set up here...thanks, regards, RB...one other... 6E, what is that, please?
I don't use futures personally but Beljevina does...

I use MT4 on a forex broker feed with their volume... nothing paid for on my end (can't afford it every month). Go for tradeguider and esignal feed if you can afford it before you go with SMART (just my humble opinion).

I use the better volume indi, a Hull (for trend), a PAL (smoothed MA, 7 period, offset 4, HLC/3) and a pivot indicator. I also use POC indicator from another thread. I don't use trendlines much (again Beljevina does) but I rely heavily on pivots, supply, demand zones, daily open, High, Low etc... as bounce / set-up points. I primarily trade trigger levels of all kinds (as you will see from some of my posts) but I won't get into triggers with you until you are ready with VSA.
Today's zone = Tomorrow's opportunity!
  • #19,380
  • May 6, 2011 1:09pm May 6, 2011 1:09pm
what an excellant observation..really!!! that just sounds like real trading to me....beats the hell out of "when the green line crosses the blue line, go short!" LOL...seriously???? thanks alot for that interpertaion..you actually taughtme something there...regards,RB
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