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vsa with Malcolm

  • #21,061
  • Edited 1:55am Jun 14, 2011 12:10am | Edited 1:55am
Here is a winner I didnt let get away!

Blue Vertical Line 1: This bar closes lowest, but has the lowest volume of the bars around it. Also a good bit off the lows. All the others close high in the spread.

Blue Vertical Line 2: This bar was my signal and I entered on the one after it. The bar before it helped me decide to get in as well.

The red horizontal lines are where I trailed my stop.

Edit: Didn't wanna make another post. This trade ended up with 44 pips. Easily my best trade so far. HG, your post was just in time. There were a few times there where I thought I was at the top and normally would have sold, but I just kept telling myself to let the market take me out. Not sure how this method works all the time, I would assume sometimes the first "swing" may come all the way back. But hopefully you can tell when thats coming and get out with a bit of profit.
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  • #21,062
  • Jun 14, 2011 5:18am Jun 14, 2011 5:18am
Quote
Your exit is fine as long as it is within your stop loss parameter and that you wanted a tight stop loss.
If you put it a bit lower you may still have got it stop out by the 8:30 bar anyway.

In your EU chart, after your exit, if you still watching the chart at 8:30 was a nice Test bar, then 9:30 NS, and you could re-enter Long after 9:30 NS.

I wouldn't have got stopped out, I just thought the prices were going ot go down. I'd get like 7.5 pips if I didn't get out

Yea I saw that entry and the move after it happened, wasn't trading at those hours... It would've been good indeed...

Quote
There were two or more hidden demands and a clear entry of no supply (testing on trigger 2). I took the trade off trigger 1, and there were two more possible trades off trigger 2. Trigger 2 was my signal of holding the position. The other line is from the daily.

Notice that trigger 1 has massive volume behind it. Trigger two opens one bar behind trigger 1. This would be a low risk entry off the no supply, and the shake out bar afterwards.

Nice, but aren't triggers drawn on the close of the bar?
  • #21,063
  • Jun 14, 2011 6:13am Jun 14, 2011 6:13am
Can anyone watch this video? It doesn't play on my browsers (chrome and IE)

http://www.tradeguider.com/customer/..._intro/5a.aspx
  • #21,064
  • Jun 14, 2011 6:30am Jun 14, 2011 6:30am
Quoting Jasus
I wouldn't have got stopped out, I just thought the prices were going ot go down. I'd get like 7.5 pips if I didn't get out

Yea I saw that entry and the move after it happened, wasn't trading at those hours... It would've been good indeed...



Nice, but aren't triggers drawn on the close of the bar?
Triggers can be H/L or C... start out assuming the close however the market will tell you which one ends up being teh trigger. WRB's often will have 2 of the levels tested.
Today's zone = Tomorrow's opportunity!
  • #21,065
  • Jun 14, 2011 6:35am Jun 14, 2011 6:35am
Quoting KinsaleForex
I'd welcome some criticism and general discussion if people agree / don't agree. I ain't saying they're perfectly right hence me actually doing this in the first place.
No one? Not a single taker?

Sorry Liam I guess everyone already knows VSA inside and out.

Save your charts.
Today's zone = Tomorrow's opportunity!
  • #21,066
  • Jun 14, 2011 6:36am Jun 14, 2011 6:36am
Quoting pres78
No one? Not a single taker?

Sorry Liam I guess everyone already knows VSA inside and out.

Save your charts.
lol
  • #21,067
  • Jun 14, 2011 6:39am Jun 14, 2011 6:39am
Hello fellow VSA traders. We are chilling quite great in the group, getting a lot from it actually, 10+ minds better than one.

We are still accepting new members (Will do forever indeed), The one requirement is that you take VSA seriously, No NOOBS accepted, please first try to learn VSA reading the books or whatever you want, we arent there to teach you the basics.

This is a free speech, open group without any other interest than the excellence in trading VSA.

The group is in Skype, msg me your skype name and I´ll add you.

Cheers.

BLW
Greetings, BeLikewater
  • #21,068
  • Jun 14, 2011 7:05am Jun 14, 2011 7:05am
Quoting KinsaleForex
Put these charts together with what jumps out at me. I'd welcome some criticism and general discussion if people agree / don't agree. I ain't saying they're perfectly right hence me actually doing this in the first place.

If i were in that position I probably would've hit my target as I normally aim for 1:1 ratio. If i was aiming for more I probably would've got stopped out or closed for a loss because i'm a sucker for hope

That aside, i personally wouldn't have taken the trade in the first place because i'm trying to stick to using triggers....

Ok I'll pull my finger out.

The way I see your 5 min chart is,

The first trigger in purple, price seems to be respecting the low more than anything else. Now i know you dont use channels but I do think they carry some validity even on small time frames. (Yellow)

Once price has broken out of the channel we would expect a pullback to confirm the new trend (counter trend) which we see at the first no demand labeled with the red line... The only problem i see with this is it hasnt broken that lower trigger.

2 bars later we get quite a wide bar on high volume, moving down and breaking through that old trigger, absorbing demand, which explains the volume.

Then 2 bars later we see a no demand touching that old trigger. Could have taken a scalp here short maybe although I still probably wouldnt have taken it.

So much easier in hindsight!
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  • #21,069
  • Edited 8:18am Jun 14, 2011 8:03am | Edited 8:18am
Quoting Jasus
...but aren't triggers drawn on the close of the bar?
There are 4 key price points on a bar for triggers:

1. High
2. Low
3. Close
4. Midpoint

There are two main techniques used with triggers. The first is to assume the trigger level is the close and let the market tell you if it the level is actually on one of the other key points.

The other starts out by looking at the bar (think of it as the cause) and the bar that follows (think of it as the effect). If the cause is a high volume up bar closing off the high and the effect is a down bar, then there must have been some selling on the first bar. Therefore, the trigger level is placed on the LOW of the bar.

Why? Because you want to judge the reaction of the BBs as price eventually moves below the low of bar one and then tries to move back up towards it. You would expect that the sellers in the bar would "defend" the low of that bar as price moves back into that level.

Take a look at the chart below.

Disregard the term climber as it is not the issue here. But notice that after this interval (which is our cause), we see that the next interval is up (which is our effect). Thus we can assume there was indeed more buying in the first bar than selling by the BBs. Otherwise the next bar would be down. So the Trigger is first placed on the high of the bar.

As it turns out, the next bar actually contained some selling that pushed prices sideways to down. But when price reached the trigger level, we get a nice No Supply bar and a bounce in price. This makes sense as we would expect to find buyers at this level. In reality we would expect to find a lack of sellers at this level-No Supply or a good Test.

Edit: added another pic showing the same thing at the right edge of the ES.
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Without VSA, you're playing checkers while the Smart Money plays chess.
  • #21,070
  • Jun 14, 2011 8:07am Jun 14, 2011 8:07am
Quoting NaughtyPip
Ok I'll pull my finger out.
I love how the title of you post has 5 min anal, and you started off by saying I'll pull my finger out. lol
  • #21,071
  • Jun 14, 2011 8:15am Jun 14, 2011 8:15am
Quoting HiddenGap
..Edit: added another pic showing the same thing at the right edge of the ES.
That last Test failed.
Without VSA, you're playing checkers while the Smart Money plays chess.
  • #21,072
  • Jun 14, 2011 8:17am Jun 14, 2011 8:17am
Quoting HiddenGap
There are 4 key price points on a bar for triggers:

1. High
2. Low
3. Close
4. Midpoint

There are two main techniques used with triggers. The first is to assume the trigger level is the close and let the market tell you if it the level is actually on one of the other key points.
The other starts out by looking at the bar (think of it as the cause) and the bar that follows (think of it as the effect). If the cause is a high volume up bar closing off the high and the effect is a down bar, then there must have been some selling on the first bar....


HG thanks..nice post as alwayes

But as i can see on your first chart you did not marked highes volume bar...Is that true?

You marked one before it...

Please tell me why?

All the best
Work smart not hard
  • #21,073
  • Jun 14, 2011 8:38am Jun 14, 2011 8:38am
Quoting Sonofsin5
I love how the title of you post has 5 min anal, and you started off by saying I'll pull my finger out. lol
its the little details that count right?
  • #21,074
  • Jun 14, 2011 10:40am Jun 14, 2011 10:40am
Quoting KinsaleForex
Put these charts together with what jumps out at me. I'd welcome some criticism and general discussion if people agree / don't agree. I ain't saying they're perfectly right hence me actually doing this in the first place.

If i were in that position I probably would've hit my target as I normally aim for 1:1 ratio. If i was aiming for more I probably would've got stopped out or closed for a loss because i'm a sucker for hope

That aside, i personally wouldn't have taken the trade in the first place because i'm trying to stick to using triggers....
In fact the 15min looks just lovely. Good support on sunday and just before LO.

Whats your reasoning for invalidating the NS off the first trigger?

And that "nice" test, what a doozie. I love it when the high/close of a successful test is respected in the future.
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  • #21,075
  • Jun 14, 2011 12:19pm Jun 14, 2011 12:19pm
Quote
Triggers can be H/L or C... start out assuming the close however the market will tell you which one ends up being teh trigger. WRB's often will have 2 of the levels tested.

Quoting HiddenGap
There are 4 key price points on a bar for triggers:

1. High
2. Low
3. Close
4. Midpoint

There are two main techniques used with triggers. The first is to assume the trigger level is the close and let the market tell you if it the level is actually on one of the other key points.

The other starts out by looking at the bar (think of it as the cause) and the bar that follows (think of it as the effect). If the cause is a high volume up bar closing off the high and the effect is a down bar, then there must have been some selling on the...
Thanks for explaining
  • #21,076
  • Jun 14, 2011 1:06pm Jun 14, 2011 1:06pm
Took this trade today

Long off, no supply/test (marked green line). Right off trigger. Moved my stop to B/E when i was about 12 pips up and unfortunately got stopped out.

Was good to see the eu move up 50 pips after that news/shakeout type bar on the 1hr. All the idiots were shouting short straight after the news in a trading chatroom I was in. They all got stopped out.
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  • #21,077
  • Jun 14, 2011 1:13pm Jun 14, 2011 1:13pm
FYI, ES and Oil has broken its resistance.

I'll crawl back in my hole.
  • #21,078
  • Jun 14, 2011 1:23pm Jun 14, 2011 1:23pm
Quoting HiddenGap
Nice trade: I did all the right things. I planned my trade and traded my plan. When the market proved my right, I sat tight.

I wished I would have gotten out at the Buying Climax. Then I remembered that I do not try and get in at the top or bottom, so I should not be worried about getting out at them either.

The trend is not just my friend, it's my lover.

P.S. My stop was just below the No Supply.
There were no turning setups as such so I'd be happy to let the trade run and wait for the revisit of the BC before exiting. It almost always comes.

Nice trade my friend.
  • #21,079
  • Jun 14, 2011 1:30pm Jun 14, 2011 1:30pm
Quoting slaphappy
Here is a chart extremely similar to the one Intel commented on. The bar on the vertical blue line worried me, but I quickly "got a grip" on myself and decided to wait to see what happens at the bottom the 2BR, which is also the close of the highest volume 5m bar of the day.

I don't like the time of day, and honestly im thinkin about just closing it and watching what asia does. On the other hand, each position is only one micro lot, and I dont think asia will push through all that selling. So it may be worth the risk. On the other other hand,...
I don't like trading that time of day. Too many false signals.
  • #21,080
  • Jun 14, 2011 1:52pm Jun 14, 2011 1:52pm
Quoting KinsaleForex
Put these charts together with what jumps out at me. I'd welcome some criticism and general discussion if people agree / don't agree. I ain't saying they're perfectly right hence me actually doing this in the first place.

If i were in that position I probably would've hit my target as I normally aim for 1:1 ratio. If i was aiming for more I probably would've got stopped out or closed for a loss because i'm a sucker for hope

That aside, i personally wouldn't have taken the trade in the first place because i'm trying to stick to using triggers....
Another view.
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