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vsa with Malcolm

  • #21,441
  • Aug 14, 2011 9:36am Aug 14, 2011 9:36am
Todd Krueger GBPJPY VSA short trade video

http://lib.store.yahoo.net/lib/yhst-...TCVN081311.htm
  • #21,442
  • Aug 14, 2011 10:02am Aug 14, 2011 10:02am
Quoting rbumbalough
Todd Krueger GBPJPY VSA short trade video

http://lib.store.yahoo.net/lib/yhst-...TCVN081311.htm


Whoever that guy is, he freaking sucks. Oh wow, tons of volume coming in on a DOJI and he goes short, oh by the way he's looking at the chart in hindsight. Why doesn't he look for any NS's, ND's or low vol tests into important areas?
Number #1 in PnL and Pips on Dukascopy Trader Contest since 2011
  • #21,443
  • Aug 14, 2011 10:55am Aug 14, 2011 10:55am
Quoting rahulkghosh
Whoever that guy is, he freaking sucks. Oh wow, tons of volume coming in on a DOJI and he goes short, oh by the way he's looking at the chart in hindsight. Why doesn't he look for any NS's, ND's or low vol tests into important areas?
been following his videos for a few months.. so far only 2/10 of the things he mentioned are useful. but its free anyway, don't expect too much.
  • #21,444
  • Aug 14, 2011 11:12am Aug 14, 2011 11:12am
Quoting rahulkghosh
Whoever that guy is, he freaking sucks. Oh wow, tons of volume coming in on a DOJI and he goes short, oh by the way he's looking at the chart in hindsight. Why doesn't he look for any NS's, ND's or low vol tests into important areas?
It is important to maintain civil dialog on a message board such as this, if one wishes to avoid driving away users as the point of the board is not to express one's displeasure with any material linked or posted, but rather to assist one's own self and others in making money from markets. Thus I am offended at your use of the independent clause "he freaking sucks." and request a retraction thereof.

In response to your declaration of ignorance regarding Krueger's identity, I note that he is a man who has been in the business for many years and was an early associate of Tom Williams, Gavin Holmes, Phil Friston, Sebastian Manby, et. al. and a Trade Guider presenter for a time.

In the opening moments of the video, TK pointed out it was to be a quick lesson. This means it is not a comprehensive portrayal of Volume Spread Analysis trading techniques.

TK's assertion at 1:10 in the video that the 0700 gmt 1H bar of GBPJPY was a "perfect place to short" was in harmony with orthodox VSA Supply Coming In setup theory as there was obvious weakness in the background.

VSA cannot predict the future, it is only another way of interpreting market actions of market participants. In this case the SCI two bar setup was sufficient condition for a short that was subsequently confirmed by a following ND bar. $GJ then sold down 400 pips.

TK's videos are only for educational purposes and are not intended to be trading or investing advice. You're criticism is thus inappropriate.
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  • #21,445
  • Edited 1:57pm Aug 14, 2011 1:27pm | Edited 1:57pm
Quoting rbumbalough
It is important to maintain civil dialog on a message board such as this, if one wishes to avoid driving away users as the point of the board is not to express one's displeasure with any material linked or posted, but rather to assist one's own self and others in making money from markets. Thus I am offended at your use of the independent clause "he freaking sucks." and request a retraction thereof.

In response to your declaration of ignorance regarding Krueger's identity, I note that he is a man who has been in the business for many years and...
I agree with your sentiment about bad mouthing people however, I would like to point out that in your chart, the 'hidden upthrust' is not such and your no demand isn't a no demand either.

Just for your information. Hope it helps.
  • #21,446
  • Aug 14, 2011 2:20pm Aug 14, 2011 2:20pm
Quoting FrankSA
I remain committed to Toms works in its purest form. I am concerned for future students of VSA who will have to cope with words like "Yow Ming" and other slang that has crept in to these posts, no apologies Gavin, I hate other peoples egos putting their stamp on someone Else's master work. Please try and keep it "clean" and true to Toms works..Wishing you all good trading and prosperous results.
Apologies to Sonofsin5, thank you, your post gave me the opportunity, this is not a personal attack. You are free to say what you like.
Yow ming is a metaphor for ultra high volume in relationship to other bars. Using metaphors has nothing to do with making Toms works "dirty." If you called Tom and asked him to help you learn VSA he will tell you to join VSA club. Guess who runs it? Gavin.
  • #21,447
  • Edited 2:57pm Aug 14, 2011 2:30pm | Edited 2:57pm
Quoting FrankSA
I remain committed to Toms works in its purest form. I am concerned for future students of VSA who will have to cope with words like "Yow Ming" and other slang that has crept in to these posts, no apologies Gavin, I hate other peoples egos putting their stamp on someone Else's master work. Please try and keep it "clean" and true to Toms works..Wishing you all good trading and prosperous results.
Apologies to Sonofsin5, thank you, your post gave me the opportunity, this is not a personal attack. You are free to say what you like.
I hate to be one of those people, but I am going to be one of those people....

Tradeguider has gone to shit. It appears that the powers that be, and I would include Tom as one of those powers, don't care about being true to Tom's work. After all, I don't see Tom breaking ties with the company.

http://www.tradeguider.com/emailshot/images/weis.pdf

Regular volume is no longer enough anymore it would seem. I'm not saying there isn't any use for the new tool, but it does move further away from MTM. Note how they say it is BETTER than simple volume.

EDIT: If you go back far enough, you will find a few charts with something I called "Effort Volume" it's basically the same thing. If you use Ensign, it's called "Volume Sum". Why spend money on something you can get yourself?
Without VSA, you're playing checkers while the Smart Money plays chess.
  • #21,448
  • Aug 14, 2011 3:33pm Aug 14, 2011 3:33pm
Quoting HiddenGap
I hate to be one of those people, but I am going to be one of those people....

Tradeguider has gone to shit. It appears that the powers that be, and I would include Tom as one of those powers, don't care about being true to Tom's work. After all, I don't see Tom breaking ties with the company.

http://www.tradeguider.com/emailshot/images/weis.pdf

Regular volume is no longer enough anymore it would seem. I'm not saying there isn't any use for the new tool, but it does move further away from MTM. Note how they say it is BETTER than...
I couldn't agree more. I stand by what I said a few posts ago. The TG crew are in business to make money from us NOT to help us make money. But, I don't blame them for that. That's what business is all about.
  • #21,449
  • Aug 14, 2011 4:31pm Aug 14, 2011 4:31pm
Quoting Intel
I couldn't agree more. I stand by what I said a few posts ago. The TG crew are in business to make money from us NOT to help us make money. But, I don't blame them for that. That's what business is all about.
Leave it to Intel to come up with the words of wisdom .

To steal a line from a great trading movie, "the markets are the last bastion of pure unadulterated capitalism". If you trade, you are a capitalist. And if you are a capitalist, can you really blame another person or company for trying to make a profit?

With that said, it is a bit disconcerting to see the guys at TG inferring that volume is hard to read after 10 years of saying volume is the key. Some of the examples don't even have actual volume on the charts. I think that fundamentally changes the definition of things like No Demand. Does it not?
Without VSA, you're playing checkers while the Smart Money plays chess.
  • #21,450
  • Aug 14, 2011 6:23pm Aug 14, 2011 6:23pm
"those who cannot do, teach" or was it " those who cannot trade become salesmen"
Quoting Intel
I couldn't agree more. I stand by what I said a few posts ago. The TG crew are in business to make money from us NOT to help us make money. But, I don't blame them for that. That's what business is all about.
  • #21,451
  • Aug 14, 2011 8:03pm Aug 14, 2011 8:03pm
Dear Intel, Dr Geppy, Malcomb14 et. al :

I am wondering what data feed you use for your price and volume data? I have read some posts where some mentioned use of futures volume and data. What is a good service provider with real-time data feed. What are the prices like?

I would really appreciate your suggestions and feedback. Please advise.

Sincerely,

Moe.
  • #21,452
  • Aug 14, 2011 8:27pm Aug 14, 2011 8:27pm
Quoting Momomoney
I am wondering what data feed you use for your price and volume data? I have read some posts where some mentioned use of futures volume and data. What is a good service provider with real-time data feed. What are the prices like?
Futures are of course quite regulated and the volumes are centralized, so every datafeed should display the same volume levels for all futures instruments. One of the differences with data comes down to whether or not they are filtered - meaning, in a fast moving market, data (price levels) might be omitted and could perhaps not get you a fill at a price you were seeking.

Some of the best (and non filtered) datafeeds are Zenfire and CQG; I have used the latter, and, while the data in all market types is problem free usually, I have seen instances where end of week closing prices (towards 5pm NY Friday) mysteriously "disappear" - there are quirks with most datafeeds, but even this latter one I have mentioned is relatively minor.

The datafeed is one piece, but then the execution of your fills (orders) is the other component, and that is a broker infrastructure item. Infinity is reputed to be fairly good; I use Amp futures and am generally pleased.

But signing up and opening an account can be geographically dependant - if you're in Canada, Amp only accepts Ontario customers (Mirius is another name, and they apparently accept no Canadians). And, if one is outside of NA, there is a list of countries that brokers often do not deal with.

While it's possible to get just a datafeed (and then a program to use it with), it might make more sense to open a account with a broker using the minimum - often $500 - and then read volume data and other information from your charting program. I would never recommend trading futures with that little in an account since a moderate move against you, and you can be wiped out. (Futures contracts cannot be traded in fractional lots, ie., 1 6E contract is $12.50/pip and equivalent to a full lot)

It is possible to get just a datafeed at a monthly rate (note that a charting package isn't usually included) - but with most starting upwards of $120/month, it might make more sense to open a future broker account with the $500 minimum deposit, and just choose not to trade, and then close it when you no longer need the datafeed, and your money would be returned to you.

And the issue of a charting program is a separate matter; Infinity provides a freebie, which is quite good, if perhaps dated. NinjaTrader is also free now (with most futures brokers), and reasonably good. (They charge for the ability to trade from the chart, at $60/month, otherwise, it is free to trade & use, using a DOM) Hope the above helps.
  • #21,453
  • Aug 14, 2011 9:40pm Aug 14, 2011 9:40pm
Quoting apple_sauce
"those who cannot do, teach" or was it " those who cannot trade become salesmen"
The only problem with this statement is Gavin trades live and calls trades. People take issue with the fact that he repeats his "great oil/ silver call" and yes I agree he does but you cannot argue that he trades live.

I know it would seem right now that I am defending the sales crew at tradeguider and I want to make it clear that I am not, but what they have done is educate almost every trader in this forum to something they did not know before. That cannot be said for some people here who are doing the name calling and finger pointing. We are all capitalists here.
  • #21,454
  • Aug 14, 2011 9:49pm Aug 14, 2011 9:49pm
Thank you so much for the detailed reply. I wanted to ask about this: Who are some of the brokers that I could open an account to start with, using a small amount of cash and who would also offer a good trading platform?

Thanks again!
  • #21,455
  • Edited 9:42am Aug 15, 2011 12:12am | Edited 9:42am
I am not questioning Gavins ability to trade, I know he knows how to trade. What I am questioning is the fact that he is making a living from trading. I find it difficult to believe that he is trading full time, and running a business at the same time. If you boast about being a successful trader, then I don't see the point of spending time on other sources of income. After all is that not the whole point of trading, to become filthy rich? If you were making tons of money from the market would you be running a lemonade stand in front of your house?

It just seems to me that Gavin is trying to take Tom's place as the "father of vsa". Lets be honest here Tom is 83, he is not going to be around forever. Gavin already wrote a book it's only a matter of time until people will start saying "Gavin took his teachings from a professional trader and perfected them" and the only ones who will know the name TW will be the "old school VSA'ers". See what's going on for yourself: go on Google images and search "Tom Williams" and see what results you get, then do another search for "Gavin Holms" and compare.

On another note, here is a chart of E/U daily. My sentiment is bullish at the moment, and we just had a perfect test.

Quoting Sonofsin5
The only problem with this statement is Gavin trades live and calls trades. People take issue with the fact that he repeats his "great oil/ silver call" and yes I agree he does but you cannot argue that he trades live.

I know it would seem right now that I am defending the sales crew at tradeguider and I want to make it clear that I am not, but what they have done is educate almost every trader in this forum to something they did not know before. That cannot be said for some people here who are doing the name calling and finger pointing. We...
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  • #21,456
  • Aug 15, 2011 2:09am Aug 15, 2011 2:09am
Quote
On another note, here is a chart of E/U daily. My sentiment is bullish at the moment, and we just had a perfect test.


http://i55.tinypic.com/2j4vpk7.gif


I will go for longs today. Waiting for a buy signal at the 5 minutes chart.
  • #21,457
  • Edited 8:51am Aug 15, 2011 8:17am | Edited 8:51am
I just went short usd/chf
There is a lot of weakness on usd/chf, and as I predicted the news will be bad for USD. I'm trying something new on this trade, by combining RSI divergence with VSA principles. This trade is only experimental and I don't normally trade counter trend, this is somewhat trying to catch a falling knife. But the R/R is right so I'm going to dump 1/2 of my position at +160 and let the other half run until it reaches oversold with a stop above the UT, -130 pips. This way the only way I can loose is if price does not reach my first target. Something that never ceases to amaze me is how well S&R lines work sometimes. That dotted red line on the chart was drawn 2 weeks ago, it was an old area of support and also a 61.8% fib level.
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  • #21,458
  • Aug 15, 2011 11:54am Aug 15, 2011 11:54am
Quoting Momomoney
Thank you so much for the detailed reply. I wanted to ask about this: Who are some of the brokers that I could open an account to start with, using a small amount of cash and who would also offer a good trading platform?

Thanks again!
Hi Momomoney, I did include the links for Infinity and Amp in my response. Infinity uses what they call Infinity Charts, which is fairly OK as a trading platform, but a little too non-standard, with no (other) industry support.

Amp Futures can link directly into NinjaTrader, which is probably what I would recommend, as there is much support, and thus many available indicators. NT is free to use and download with them, and, all the tradeable instruments (and thus accessibility to all CQG datafeeds and chart timeframes) are shown here.

I'd thought the deposits were a bit lower, but it seems $2K is the minimum, to be able to trade and view all futures data. (Amp has a $300 minimum to allow trading of the micro-currencies, with their $100 margin, but this is relatively risky IMHO with such a low balance)

Ninjatrader is free to use; the free version only allows for trading via the DOM (which is shown here) - it can be awkward for beginners; full chart trading is $60/month. See the Ninjatrader pages for more details.

And both platforms and brokers of course offer trial periods of about a week, and will extend them if you request it. Hope that helps.
  • #21,459
  • Aug 15, 2011 1:15pm Aug 15, 2011 1:15pm
i am new to vsa. not sure if i have your concepts clear. usd/nok 30 min looks bullish to me. is that how you see it?
  • #21,460
  • Aug 15, 2011 2:33pm Aug 15, 2011 2:33pm
any idea concerning vsa about this s&p 500 chart?
prices are on the rise but volume is falling? volume is going back to normal from a time of exaggeration.
question: how reliable is vsa under this market conditions?
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