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vsa with Malcolm

  • #24,721
  • Oct 3, 2013 10:05pm Oct 3, 2013 10:05pm
Quoting pres78
{quote} You do realize that ranting to a mostly empty room makes you look crazy ... I do agree with what you have said in your post though. No SL and averaging down makes you look heroic when it works out before you bust but long run this ultimately ends with margin calls for most who try. {image}
You have to be crazy to keep trading forex after a year..

But yea, this has been a zombie thread since Malcolm left in 2011, its time to let this thread die.
  • #24,722
  • Oct 4, 2013 2:19am Oct 4, 2013 2:19am
Shame that Malcolm left I wonder what he is doing now, perhaps we can all persuade him to come back and share his magic here
Tracking the Specialists.
  • #24,723
  • Oct 4, 2013 2:54am Oct 4, 2013 2:54am
Quoting SimpleDev
{quote} This post actually is a good excuse for my rant. I have been reading various threads on FF, and the latest trend is people are no longer using stop losses and averaging down their losses until they turn it into profit. There are a ton of people right now crying that they got a margin call on GU because of this. I saved my rant due to I don't want to be that duchebag who barges into other people's threads and tells them they're doing it wrong. My first rule of trading is capital preservation, second rule is to make money. It seem as if people...
I'm not using SLs. But that doesn't mean I wouldn't close a losing trade when I see that I was totally wrong. The thing with me is that if I would use SLs it's like I'm preparing to lose. That's psychologically very important to me. But I am using TPs. Almost on every trade. I can handle trades which go against me let's say 500 pips. No problem at all. It only means that I'm convinced that my trade wasn't bad but taken too early It's all about money management. I earn money every day when I'm trading. Even if I have couple of losing trades on. Trading this way, my current winning rate is 99%. But that's just me and my trading decisions and money management. I developed this one myself and it works fine for me.
  • #24,724
  • Oct 4, 2013 7:00am Oct 4, 2013 7:00am
Quoting 1pipperhour
I developed this one myself and it works fine for me.
BINGO!

That is the key.

The one and only Holy Grail of trading successfully... find what works and is consistant for you.
Today's zone = Tomorrow's opportunity!
  • #24,725
  • Oct 8, 2013 2:50pm Oct 8, 2013 2:50pm
It takes time to learn to interpret volume.
The Market pays you to be disciplined
  • #24,726
  • Oct 8, 2013 3:59pm Oct 8, 2013 3:59pm
Quoting Connected
Shame that Malcolm left I wonder what he is doing now, perhaps we can all persuade him to come back and share his magic here
Last time I heard from Mal he was in Dubai.
The thread didn't die because he left either, it was the type of organic killing that comes from fancy indicators and holy grails.
  • #24,727
  • Oct 8, 2013 4:26pm Oct 8, 2013 4:26pm
Problems don't come with indicators ...problems come with trader's interpretation of those indicators...Some capable , good traders can make money using moving averages ...some cannot trade with anything ...
The Market pays you to be disciplined
  • #24,728
  • Oct 8, 2013 4:27pm Oct 8, 2013 4:27pm
Id like to post something I find useful.
This is a chart of ticker YCS (USDJPY), a PROshares currency exchange traded fund. For a list of these see the link below.
http://etf.stock-encyclopedia.com/ca...ency-etfs.html

I have posted in the past about the value of these ETF's. Take a look at the current weekly YCS.
Weakness is apparent from a VSA perspective all over this chart. There is also a classic wedge forming.
Without any major SOS, a test of the demand that created the massive 2 bar reversal around 94.50 (bottom of reversal point) could be on the way.
The current government problems in the US will add extra volatility to the market and has the potential to be the catalyst for a major move.
Interesting to note from a volume standpoint is that this chart mirrors almost identically in price and volume to a USDJPY weekly chart.
Attached Image (click to enlarge)
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  • #24,729
  • Oct 8, 2013 4:32pm Oct 8, 2013 4:32pm
Quoting mima
Problems don't come with indicators ...problems come with trader's interpretation of those indicators...Some capable , good traders can make money using moving averages ...some cannot trade with anything ...
You are correct, I used the word loosely. What I should have said was non VSA analysis.
I love a small number of indicators. Especially the ones the government wont give out during the shutdown. Example-COT reports.
  • #24,730
  • Oct 9, 2013 1:34am Oct 9, 2013 1:34am
Quoting Sonofsin5
{quote} Last time I heard from Mal he was in Dubai. The thread didn't die because he left either, it was the type of organic killing that comes from fancy indicators and holy grails.
Thanks Sonofsin, good to know! I am thankful for finding this thread early on in my path! Currently trying to spot low volume 'Tests'. Would it be correct to say that if we have a no supply signal, this sometimes gets confirmed by a test of supply as a kinda second check confirmation that all supply has been bought up, so to speak?
Tracking the Specialists.
  • #24,731
  • Oct 9, 2013 2:02am Oct 9, 2013 2:02am
Quoting Sonofsin5
Id like to post something I find useful. This is a chart of ticker YCS (USDJPY), a PROshares currency exchange traded fund. For a list of these see the link below. http://etf.stock-encyclopedia.com/ca...ency-etfs.html I have posted in the past about the value of these ETF's. Take a look at the current weekly YCS. Weakness is apparent from a VSA perspective all over this chart. There is also a classic wedge forming. Without any major SOS, a test of the demand that created the massive 2 bar reversal around 94.50 (bottom of reversal...
So basically you're saying that USD weakness will continue? Looking at GBPUSD (hourly chart) I see it totally different. USD is gaining strength. GBP weakness should drive GU at least to .5700 (or lower). If it tests that area and shows some SOS I would reconsider.
  • #24,732
  • Oct 9, 2013 8:52am Oct 9, 2013 8:52am
Quoting 1pipperhour
{quote} So basically you're saying that USD weakness will continue? Looking at GBPUSD (hourly chart) I see it totally different. USD is gaining strength. GBP weakness should drive GU at least to .5700 (or lower). If it tests that area and shows some SOS I would reconsider.
I'm not talking about GU, the jpy crosses do not act in perfect correlation with other majors. There is currently an unwind happening in the UJ from the strong run we have had since last year. I have not looked at the gbp in much detail. I like USD weakness on some pairs on the longer time frames such as against the NZD and JPY.
  • #24,733
  • Oct 9, 2013 8:53am Oct 9, 2013 8:53am
Quoting Connected
{quote} Thanks Sonofsin, good to know! I am thankful for finding this thread early on in my path! Currently trying to spot low volume 'Tests'. Would it be correct to say that if we have a no supply signal, this sometimes gets confirmed by a test of supply as a kinda second check confirmation that all supply has been bought up, so to speak?
You need to read master the markets by Tom Williams, this is explained in detail there.
  • #24,734
  • Oct 9, 2013 9:14am Oct 9, 2013 9:14am
Quoting Sonofsin5
{quote} I'm not talking about GU, the jpy crosses do not act in perfect correlation with other majors. There is currently an unwind happening in the UJ from the strong run we have had since last year. I have not looked at the gbp in much detail. I like USD weakness on some pairs on the longer time frames such as against the NZD and JPY.
Yeah, I know. I meant USD weakness in general. Really want to know how FOMC meeting later on will affect USD. I hope fundies will align with technicals and I see .5700.
  • #24,735
  • Oct 9, 2013 11:35pm Oct 9, 2013 11:35pm
Quoting Sonofsin5
{quote} You need to read master the markets by Tom Williams, this is explained in detail there.
Gotcha, will do thanks!
Tracking the Specialists.
  • #24,736
  • Oct 10, 2013 9:04am Oct 10, 2013 9:04am
G/U 4H If next bar will be up that could mean sellers are struggling to break some minor support setted they will unload their short positions and will join buyers ..just my point of view
Attached Image (click to enlarge)
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  • #24,737
  • Oct 10, 2013 10:28am Oct 10, 2013 10:28am
I bought also gold to see how it gonna go
Attached Image (click to enlarge)
Click to Enlarge Name: gold.png Size: 151 KB
  • #24,738
  • Edited 2:19pm Oct 10, 2013 2:04pm | Edited 2:19pm
Great thread, too bad it has been deserted.
Thanks to SimpleDev and others to keep it alive.
I have a problem with iBetterVolume indi from Bandung, so this post is mainly directed to him, but anybody who can look into this is welcome. I believe it comes from the include file but I'm not a coder

Hello Bandung,
Hope you are well, even if away from FF since june.
I attach a picture of the iBetterVol indi where I believe a climax Low bar is identified as a climax hi.
Is it a bug in the code or something wrong with my feed?

Thanks
Attached Image (click to enlarge)
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  • #24,739
  • Oct 10, 2013 2:45pm Oct 10, 2013 2:45pm
Quoting Maseratie
I bought also gold to see how it gonna go {image}

Hi, I have just recently got interested in Gold as well, it gives very good volatility compared to all the other FX pairs that I used to trade... My learning curve was on the EU... Moving down the TFs will also give a clearer picture to help with the analysis
  • #24,740
  • Oct 10, 2013 2:51pm Oct 10, 2013 2:51pm
After a long time in the wilderness with VSA, I have finally come to the conclusion that a Wyckoff overlay of VSA works best.. After all, Tom learned that first. It is the best combination that helps me find good safe entries in unclear pure VSA set ups..
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