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vsa with Malcolm

  • #19,741
  • May 16, 2011 11:59am May 16, 2011 11:59am
Quoting Trader_X
can someone tell me if they think that is an upthrust forming on the eu 30m..?? regards, tx
We won't know for sure until it closes, but it looks like an UT or Trap Upmove. Trying to trap all the buyers just to the left who went long?

Warning: I'm NOT a VSA expert!

Also, what's in the background? UT's are only meaningful if there are signs of weakness (SOW) in the background.

EDIT: The TG plug-in for MT4 ID'd it as an upthrust.
  • #19,742
  • May 16, 2011 12:02pm May 16, 2011 12:02pm
thanks marcus..appreciate the insight...makes total sense...TX
hey thanks again markus...yeah!!! i got one right!!!!
hey marcus are you happy with the TG plug in version?? considering purchasing it, but dont know if it would be of more benefit to a begginer to get the full software version...just wondering how you like the plug in version...thanks again, regards, TX
  • #19,743
  • May 16, 2011 12:08pm May 16, 2011 12:08pm
ok heres the hardest part for me...im short eu and up 35 pips...now i never know if i should take it or move to BE and let here run...any advice...regards, TX
  • #19,744
  • May 16, 2011 12:09pm May 16, 2011 12:09pm
Quoting Trader_X
ok heres the hardest part for me...im short eu and up 35 pips...now i never know if i should take it or move to BE and let here run...any advice...regards, TX
Where would have your initial stop been on the trade?
  • #19,745
  • May 16, 2011 12:17pm May 16, 2011 12:17pm
In Gavins new book he has a new SOW called ... ' peak a boo we see you'

How easy was this ...

Attached Image (click to enlarge)
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Blogging daily now at www.volume.zone
  • #19,746
  • May 16, 2011 12:17pm May 16, 2011 12:17pm
ill be honest with you...i jumped the gun on the UT thing and sold at the top of the TL...my stop would have been a few pips above the the 4243 level...i was hoping /counting on it drop and developing a ut...but would only lose a few pips if it failed..seemed like a good deal!...did i screw up? what should i have been looking at in your opion...ive seen your charts and respect your veiw so any advice is welcome...regards, TX
Attached Image (click to enlarge)
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  • #19,747
  • May 16, 2011 12:19pm May 16, 2011 12:19pm
You are short the pair that has ripped up the most ....my advise trade something else for weakness. The weakness from today was not confirmed yet , BUT i think this is a shake out of weak shorts.

Quoting Trader_X
ok heres the hardest part for me...im short eu and up 35 pips...now i never know if i should take it or move to BE and let here run...any advice...regards, TX
Blogging daily now at www.volume.zone
  • #19,748
  • May 16, 2011 12:27pm May 16, 2011 12:27pm
was just looking and i dont see anything that supports a hard fall ..which doesnt mean much cause i dont know what im looking at!LOL..but i hold your advice in HIGH regard, so im gonna close it!..thanks for your input!!! regards, TX...out at +30
  • #19,749
  • May 16, 2011 12:42pm May 16, 2011 12:42pm
Quoting malcolmb14
In Gavins new book he has a new SOW called ... ' peak a boo we see you'

How easy was this ...

Attachment
Weekly pivot led me, 1330 tonight would be nice

M15:
Attached Image (click to enlarge)
Click to Enlarge Name: Picture0075.jpg Size: 66 KB
Don't be a hero. Don't have an ego. Always question yourself
  • #19,750
  • May 16, 2011 12:46pm May 16, 2011 12:46pm
a little bit about trading well ius understanding the markets .... what is the pros intent.

Today their intent is to rip eu up for no reason ... well there is reason but that we may see tomorrow.

For now there has been no confirmation of the weakness and when pros play these ganes you are either with them or aginast them

Quoting Trader_X
was just looking and i dont see anything that supports a hard fall ..which doesnt mean much cause i dont know what im looking at!LOL..but i hold your advice in HIGH regard, so im gonna close it!..thanks for your input!!! regards, TX...out at +30
Blogging daily now at www.volume.zone
  • #19,751
  • May 16, 2011 12:53pm May 16, 2011 12:53pm
Quoting malcolmb14
In Gavins new book he has a new SOW called ... ' peak a boo we see you'

How easy was this ...

Attachment

Hi malcolm,

I just finished reading master the markets,no doubt i will be going through it many more times

Have you finished gavins new book already

Would like to get a synopsis of this book from you before i go for it....

Also,would it be possible for you to share your template and indi's for your mt4 set up so that i can have a base from which to start my journey....

I noticed people using trigger lines for the highest volume bars etc etc,did'nt recall this in the book,or i missed something could you please elaborate a little on whats involved,where to put the lines and what the concept behind them is,or if anyone can refer me to a place i can read about this please.....

Appreciate all your effort,desire and dedication to help the little guy understand
  • #19,752
  • May 16, 2011 12:55pm May 16, 2011 12:55pm
Quoting Trader_X
thanks marcus..appreciate the insight...makes total sense...TX
hey thanks again markus...yeah!!! i got one right!!!!
hey marcus are you happy with the TG plug in version?? considering purchasing it, but dont know if it would be of more benefit to a begginer to get the full software version...just wondering how you like the plug in version...thanks again, regards, TX
TX - The best advice I have have been given was when Malcolm told me to join the VSA club. After that, you can then pick from several different plugins for an extra (but small IMO) charge. Even if you don't get the indicators, the club's main benefit is the training modules and the live trading demos.

I'm also getting Gavin's book. Should be available to the rest of us (the herd? ha-ha) soon.
  • #19,753
  • May 16, 2011 12:59pm May 16, 2011 12:59pm
I wished i had even got it yet ....

bought it 3 weeks ago .. if he sold 1000 copies = 90 k , liekly made 20% on that trading es with our money so far lol

Quoting omi
Hi malcolm,

I just finished reading master the markets,no doubt i will be going through it many more times

Have you finished gavins new book already

Would like to get a synopsis of this book from you before i go for it....

Also,would it be possible for you to share your template and indi's for your mt4 set up so that i can have a base from which to start my journey....

I noticed people using trigger lines for the highest volume bars etc etc,did'nt recall this in the book,or i missed something could you please elaborate a little...
Blogging daily now at www.volume.zone
  • #19,754
  • May 16, 2011 1:13pm May 16, 2011 1:13pm
great freakin" call again malcolm..dumped it just in time!!! thanks a bunch for that...truely...id be sick right now if i hadnt closed that trade..i do understand what your saying to me..and it is greatly appreciated..regards, TX

marcus..i will do it..ill look into joing the vsa club..thanks, its appreciated!

yes , as to the previous post could someone explain the whole trigger thing? im almost done with the book but havent seen that subject mentioned...many regards, TX
  • #19,755
  • May 16, 2011 1:22pm May 16, 2011 1:22pm
euro h4 chart shows supply coming in. i don't think this is the end of the rally although there's some unfinished business @ 1.4155 so i expect a small retrace, but then we should see another attempt to rise - with or without a higher high.

short term: down. medium term - since we just marked a lower low on monthly, i need to see a higher high on weekly (above 1.4441) to believe in a trend continuation. long term - still up... we may still see 1.5 and possibly above.
Attached Image (click to enlarge)
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Nihil Sine Deo.
  • #19,756
  • May 16, 2011 1:36pm May 16, 2011 1:36pm
If you want the jump on Gavins book you can get the first 2 chapters here

http://www.tradeguider.com/free/shadow.aspx

gets you under way
  • #19,757
  • May 16, 2011 2:24pm May 16, 2011 2:24pm
since the market has slowed would any of the vetern vsa guys here mind explaining triggers for us new guys or point us in a direction where we might be able to find some info on the subject?..realy appreciate any help!..regards, TX
  • #19,758
  • May 16, 2011 2:46pm May 16, 2011 2:46pm
Quoting USD-Bear
Weekly pivot led me, 1330 tonight would be nice

M15:
Attachment
First target reached, holding position, lets see what 1328 does......
Don't be a hero. Don't have an ego. Always question yourself
  • #19,759
  • May 16, 2011 3:02pm May 16, 2011 3:02pm
Quoting Trader_X
great freakin" call again malcolm..dumped it just in time!!! thanks a bunch for that...truely...id be sick right now if i hadnt closed that trade..i do understand what your saying to me..and it is greatly appreciated..regards, TX

marcus..i will do it..ill look into joing the vsa club..thanks, its appreciated!

yes , as to the previous post could someone explain the whole trigger thing? im almost done with the book but havent seen that subject mentioned...many regards, TX
Just wondering why would you be sick right now? I thought the trade was a good one and set a sell stop just below the upthrust and am looking good fairly good now. This was just one up day after a period of many down so i still believe we are in a medium term downtrend, or at most a small retracement.

Also something to keep in mind, If you get sick from a loss, your risking too much capital per trade. Read up on trading psychology, search fijitrader in the forums, he's got some good advice. You will learn real quickly that only risking 1-2% of your capital makes trading much more enjoyable and if profitable will result in a smoother equity curve. Much more appealing IMO.
  • #19,760
  • May 16, 2011 3:17pm May 16, 2011 3:17pm
at the moment i wrote that we didnt / i didnt know where it was going...i was up 40 pips and it retraced nearly all the way to my BE ponit...another5-7 pips and i woulldve been stopped out(BE) !!! so to think that i was +40 and got nothing out of it would be very disappointing to me...i took that trade on a 15m chart and i very often will take a 15m trade and be up 25-30 pips and decide to let it run only to BE....this happened last week..took 8 trades in a row...ALL of them were up any where from15 to 30 pips but ALL them broke even !!!had i kept in mind that i was trading smaller TF and closed each, id of gone home with a 100 pips in my pocket!!! as it ended i got nothing!!!so to start this week out the same way wouldve made me sick!!!LOL...its seems that you can not expect the same amount of pips on a 15m trade as you can a 1hr trade...sometimes it will run but in my experience most dont...malcolms point was that i was trading against the grain for the day and that is true! so it was better for me to clear a 30 pip profit than to sit and HOPE that the market would come back down!! hope this explains my post!! i never trade more than 3 or 4 % per trade!!!..regards, TX
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