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Volume Price Level Trading

  • #561
  • May 13, 2013 2:57am May 13, 2013 2:57am
Bad trades happens , but look after the fact I think my error could be avoided.
Started my day with two price level one at 1.2990 from previous day and another at 1.2965 which I spotted since it's a volume peak at 2:15 also confirmed by marketprofile.
So I had the feeling that market interest was down since there was up candle from 7:30 to 8:45 but volume wasn't spike so market doesn't seems to go above 1.2990, then 2 down candles appeared with higher volume (showed with X mark on graph and the second one was a volume peak) which fooled me because I shorted at the open of next candle with a sl at 1.2990 which was hit few candles later.
As I can see a much more wise approach could be to put a sell stop at 1.2990 since I know price hardly could go above that level. Shorting at 1.2990 as you can see could give at least 25 pips, so in the end my hurry to be in market misguided me and I lose pips, hope I learned this lesson !
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  • #562
  • May 13, 2013 8:24am May 13, 2013 8:24am
Hi Skyline,

could you please elaborate more about the using of marketprofile on VPLT?

Thank you.
Pursue the best and share to others!
  • #563
  • May 13, 2013 9:55am May 13, 2013 9:55am
Quoting kawangkoan
Hi Skyline, could you please elaborate more about the using of marketprofile on VPLT? Thank you.
Hi kawangkoan, I'm studying to understand if this indicator could be of some help in live trading, if you look at my previous chart , when you put it on chart it shows with an horizontal histogram where tick volume is for each price, so the more bar is extended on the left the more interest should be around that price (at least this is how I understand it). In my chart this morning , marketprofile signal an horizonal spike at around 1.2965 which was confirmed also by volume spike at 2:15.
So marketprofile maybe could be used as a sort of confirmation about forming price level, but as I said in my previous post I'm neither master using this indicator nor trading VPLT which i'm studying too.
Let's wait Spud's comment about it !
  • #564
  • May 13, 2013 2:34pm May 13, 2013 2:34pm
Quoting skyline
Bad trades happens , but look after the fact I think my error could be avoided. Started my day with two price level one at 1.2990 from previous day and another at 1.2965 which I spotted since it's a volume peak at 2:15 also confirmed by marketprofile. So I had the feeling that market interest was down since there was up candle from 7:30 to 8:45 but volume wasn't spike so market doesn't seems to go above 1.2990, then 2 down candles appeared with higher volume (showed with X mark on graph and the second one was a volume peak)[b] which fooled me because...
Hi, nice postings Skyline and good to see this thread live up again:
You got a new [email protected] created by candle 1 and 2 see line on the chart below, so at that point there´s not much info to enter on Candle 2 I think. Candle 2 is up with lower volume and candle 3 again up with even lower volume. After candle 3 a good possibility to go short is showing it self and would have been a winner.

Regards

Waez

http://i41.tinypic.com/2e3n5ts.png
  • #565
  • May 13, 2013 4:58pm May 13, 2013 4:58pm
Quoting Waez
{quote} Hi, nice postings Skyline and good to see this thread live up again: You got a new [email protected] ("[email protected]") created by candle 1 and 2 see line on the chart below, so at that point there´s not much info to enter on Candle 2 I think. Candle 2 is up with lower volume and candle 3 again up with even lower volume. After candle 3 a good possibility to go short is showing it self and would have been a winner. Regards Waez {image}
Hi Waez, yes there was a new level at 1.2980 but I shorted at the start of candle 2 so I didn't know at that time there was a peak and a new level forming at a lower price, maybe a larger stoploss at 1.3010 could helped me to stay out of trouble, but definitelly it was not a good trade and as you said I had to wait some candle for better confirmation.
Btw I shorted again later in the day 3 times when price touched 1.2990 which in my view was a very strong level with market not so prone to go up so I shorted with no mercy so in the end was a costructive and positive day

Thx

Cheers,
Skyline
  • #566
  • May 14, 2013 12:08am May 14, 2013 12:08am
Hi Skyline,

I came across market profile indi very recently and am hopeful that it can be put to use with VPLT. IMHO applying it to M1 chart could give the most accurate results. Do share your insights abt this indi with us.
  • #567
  • May 17, 2013 5:29am May 17, 2013 5:29am
Thank you Skyline for your response and Waez, as usual, great analysis ......thank you
Pursue the best and share to others!
  • #568
  • May 31, 2013 1:49pm May 31, 2013 1:49pm
Hello Spudfyre
Thank you for this great thread. Last few days I was reading digesting and trying your lessons on demo. For the first time my scalping makes profits. Still don't feel comfortable with my understanding of it but I know there's price to be payd - effort. And I'm willing to pay that as much as necessary.
You have promised to show a long entry and then some variations to entry signals in upcoming posts. But there were no upcoming posts. Could you continue and prepare a few new lessons?
Thanx
Use axe Luke...
  • #569
  • Jun 5, 2013 9:47pm Jun 5, 2013 9:47pm
Hi Krystyn,

I apologize, my perception of where people understand the concept and where I beat something to death can sometimes be off kilter. I'd be happy to add some more examples if that would help with clarity. I'll put together a long entry this weekend and post here (yes I did promise, so I should do it, eh!) . If there are other specifics you would like to see, I'd be glad to explain/examplify.


Quoting Krystyn
Hello Spudfyre Thank you for this great thread. Last few days I was reading digesting and trying your lessons on demo. For the first time my scalping makes profits. Still don't feel comfortable with my understanding of it but I know there's price to be payd - effort. And I'm willing to pay that as much as necessary. You have promised to show a long entry and then some variations to entry signals in upcoming posts. But there were no upcoming posts. Could you continue and prepare a few new lessons? Thanx...
  • #570
  • Jun 6, 2013 2:58am Jun 6, 2013 2:58am
Quoting Spudfyre
Hi Krystyn, I apologize, my perception of where people understand the concept and where I beat something to death can sometimes be off kilter. I'd be happy to add some more examples if that would help with clarity. I'll put together a long entry this weekend and post here (yes I did promise, so I should do it, eh!) . If there are other specifics you would like to see, I'd be glad to explain/examplify. {quote}
Spudfyre,

Yeah , more examples would be really really nice. Alternatively as suggested before, you could do a video clip. A 15min clip could cover a lot of candles.

Just a humble suggestion.
  • #571
  • Edited 6:09am Jun 6, 2013 3:41am | Edited 6:09am
Hi Spudfyre
Last 4 days I was staring at EU with volumes, obv and macd. Must say that macd didn't help much but it's my double fault - the pair was slow so I switched to M1 and I'm in the process of training my perception - my brain still refuses to process data from more than 3 sources (pa, vol, obv). Still had several quick profitable scalps. Btw - price was playing perversly with round number 1.31000 for a long time (over, under, over, under...) so looking at volume made more sense than looking at round number.
Edit:
The pair started moving. Bad scalps happened. Lesson learned - if price moves quick enough OBV has no space to tell you the truth. Back to 15M. Next time I will change pair not TF.
Use axe Luke...
  • #572
  • Jun 21, 2013 5:15am Jun 21, 2013 5:15am
Greetings to all!
For MT4 made ​​full implementation of the CME futures and volumes, besides writing that all officially.
He inquired of them the source of indicators - promised to give, but it will work only for them anyway.

It looks like this:

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At the forum they have a description. On the demo data are delayed by 15 minutes.
I do not know the link you can give, or not ... you are interested in Google can be found, called Arsenal-forex.
In any case, you can normally use without the complexity and volume in MT4.
  • #573
  • Aug 2, 2013 9:51am Aug 2, 2013 9:51am
Don't die on me now thread! I've just found you!

Price level at 1.3265. Second candle to the right has high volume and price is rising (away form price level). I'm long here as price doesn't seem interested in returning to 1.3265 level. Thoughts?
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I just want to get my kicks, before the whole shit-house goes up in flames.
  • #574
  • Aug 13, 2013 2:22am Aug 13, 2013 2:22am
This is a very excellent and informational thread.

First trade of the day using VPLT. 10pips done.

Price level 1.3305 is the level of interest. More interest below this level than above. So sell : )
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Pivot Boss in the making~
  • #575
  • Sep 7, 2013 10:54am Sep 7, 2013 10:54am
is this thread dead? I'd love to get everyone back together to see how they are doing.
  • #576
  • Nov 20, 2013 9:26am Nov 20, 2013 9:26am
Well I had completly forgot about this thread. I have re-read the system again and think I undertsand it. I have attched my first trade using this system. Screen shot attached with the order. Ignore the failed trades those are not this system. The last sell is. 20 tp 20 sl. Look how it screamed away from my interest lines. Im aiming for 20 pips per trade.

I dont have a lot of time to trade so this system suits me. I will just increase the lot size according to my budgets etc. Demo only for now untill I can get this nailed down.

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  • #577
  • Nov 20, 2013 10:01am Nov 20, 2013 10:01am
Quoting marine1983
Well I had completly forgot about this thread. I have re-read the system again and think I undertsand it. I have attched my first trade using this system. Screen shot attached with the order. Ignore the failed trades those are not this system. The last sell is. 20 tp 20 sl. Look how it screamed away from my interest lines. Im aiming for 20 pips per trade. I dont have a lot of time to trade so this system suits me. I will just increase the lot size according to my budgets etc. Demo only for now untill I can get this nailed down. {image}

If you understand it Pm me,cause I could never understand what was prudent to look at, it seemed subjective to me.
  • #578
  • Dec 12, 2013 3:37am Dec 12, 2013 3:37am
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  • #579
  • Jan 6, 2014 9:52pm Jan 6, 2014 9:52pm
happy new year master spudfyre!

too bad a great thread like this one's dying..

thanks for your insight master..
hope to see you again with more excellent examples.. in near future..

i really like this thread.. and your market approaching..
maybe i will keep posting my charts here.. when i get of this method on my head.. (barely have just read it.. )

wish you best luck in life mr spudfyre. may profit always be with you
  • #580
  • Mar 29, 2014 11:40am Mar 29, 2014 11:40am
By far my favourite thread at FF, pity that it's not active anymore. I find the trading style very engaging and really enjoyed trying to be better at it.
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