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vsa with Malcolm

  • #26,441
  • Mar 4, 2015 9:41am Mar 4, 2015 9:41am
Quoting KinsaleForex
Annoying. {image}
That sucks man, bumping day with the pre NFP. You did pretty well last week and it was crazy with Yellen testifying. Thats something!
  • #26,442
  • Mar 4, 2015 10:45am Mar 4, 2015 10:45am
Effort to learn, Effort for screen time , Effort for searching in attachments of this thread...is kind of difficult for some prospective traders...
No Effort no Result. I think so.
There is a winner and a loser, nothing in between.
  • #26,443
  • Mar 4, 2015 9:59pm Mar 4, 2015 9:59pm
Quoting buytosell
Effort to learn, Effort for screen time , Effort for searching in attachments of this thread...is kind of difficult for some prospective traders... No Effort no Result. I think so.
Excellent job of contributing, mima..

oh you go by buytosell these days. ​
  • #26,444
  • Mar 5, 2015 12:01am Mar 5, 2015 12:01am
Quoting SimpleDev
....
All questions regarding VSA are answered in TW book, tradeguider, already....to use VSA or use any other indicator depends on interpretation. proper interpretation is directly related to practice, screentime etc.

Sarcasm of my contribution by quoted individual is a meaningless...
There is a winner and a loser, nothing in between.
  • #26,445
  • Mar 5, 2015 7:31am Mar 5, 2015 7:31am
Any critique on this analysis? Both trades were profitable, but I got stopped out for +pips on the long which turned into an upthrust, before plummeting - maybe it will turn around? I'll post SS in following post.
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"Never Take a Trade You Don't Understand!" - Pres78
  • #26,446
  • Edited 7:59am Mar 5, 2015 7:32am | Edited 7:59am
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"Never Take a Trade You Don't Understand!" - Pres78
  • #26,447
  • Mar 5, 2015 8:34am Mar 5, 2015 8:34am
Quoting ZeeDeveel
Any critique on this analysis? Both trades were profitable, but I got stopped out for +pips on the long which turned into an upthrust, before plummeting - maybe it will turn around? I'll post SS in following post. {image} {image}
A few comments I can offer on the EURGBP.

  1. I don't trade EURGBP because it's moves and range are horrible. Look at your 5 minute chart, top to bottom is barely 20 pips.
  2. You bought kind of high up, there were some chances to get in a bit lower (again expecting small pips due to small daily moves on this pair).
  3. ECB press conference created that 15min spike up and then down seen on your last 15 minute chart.

Today's zone = Tomorrow's opportunity!
  • #26,448
  • Mar 9, 2015 12:07am Mar 9, 2015 12:07am
Quoting SimpleDev
{quote}
Work on finding Major S/R then minor S/R. Look to open positions at major S/R and add to your position at minor S/R, using VSA setups.

Yellow and Red lines are Major support and resistance, whites are minor. {image}

I think those major & minor S/R levels are fibbo levels, right? so could you show us what is the 0 & 100 level of that chart please? Thank you
The loss was not bad luck. It was bad Analysis - D.Einhorn
  • #26,449
  • Edited 6:19am Mar 9, 2015 6:00am | Edited 6:19am
Quoting Vcv13
{quote} I think those major & minor S/R levels are fibbo levels, right? so could you show us what is the 0 & 100 level of that chart please? Thank you
Yes I am using Fibs for S/R. I stole the idea from another thread, except I dont use his benchmarks. I use his fib levels and how he draws fibs inside fibs.

http://www.forexfactory.com/showthread.php?t=526105

The original Fib (red) I drew using a swing high/low from monthly chart, then from the red fib started drawing fibs inside fibs. It works well I think, really want to pay attention to the yellow and red levels.
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  • #26,450
  • Edited 9:15am Mar 9, 2015 8:23am | Edited 9:15am
Trade Exits - I'm finding I'll take a VSA entry on a 5 minute chart and then TP when the price hit's minor resistance and starts to pullback, but then often price will revert back to it's original direction and I will have taken 10 pips when price ran for 40 pips.

So when do you know when an area of price that gives a reaction is an area where you should hold on to your position? Are we looking for an "equal and opposite reaction" to our entry point? i.e. levels of selling which correspond to the level of buying in the background and anything substantially less we presume will often not contain price for long?
"Never Take a Trade You Don't Understand!" - Pres78
  • #26,451
  • Mar 9, 2015 9:27am Mar 9, 2015 9:27am
Quoting ZeeDeveel
Trade Exits - I'm finding I'll take a VSA entry on a 5 minute chart and then TP when the price hit's minor resistance and starts to pullback, but then often price will revert back to it's original direction and I will have taken 10 pips when price ran for 40 pips. So when do you know when an area of price that gives a reaction is an area where you should hold on to your position? Are we looking for an "equal and opposite reaction" to our entry point? i.e. levels of selling which correspond to the level of buying in the background and anything substantially...
People here wont say to much about SL and TPs as they believe they are a personal subject. Which they are..

You will need to figure out what type of trader you want to be then you can go from there.

If you are looking for steady income then you will probably TP quicker ensuring that you lock in profit every day or week. You will be more focused on win rate and getting your position to BE quickly. If you fall into this category more than likely you will just be setting your TP based on a 1;1 RR or maybe a 1;2 RR. Maybe even waiting for hulls to change color in the opposite direction to exit.

If you dont care about steady income and you only goal is making the most money you can then you will want to focus on staying in trades as longer and building as many positions as you can. You wont care to much about win rates and be more focused on position building and trying to increase your RR. Your TPs will probably be based on PA and S/R.

Just an interesting note you said price hit a minor resistance.. Personally if its a minor resistance I would be trying to find reasons to add to my position.

If you try your hand at building positions do it intelligently. Only add when you are in profit and get your SL to BE or setting your SL to where you are only risking one positions worth of risk while you are carrying multiple positions (hopefully that last statement made sense to you!)
  • #26,452
  • Mar 10, 2015 6:55pm Mar 10, 2015 6:55pm
Chart dump.

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Price made several attempts to break (and stay broken) the low of the highest volume 15min zone (green) today. There were three P&F opportunities that fit my entry criteria. I took the first two. The first stopped, the second hit BE and unfortunately I didn't take the third one. Just thought i'd post this chart to show the power of these zones. Even with the complete mess of a zone (purple) that formed during the day. Price still pays attention to these zones.
  • #26,453
  • Mar 11, 2015 3:33am Mar 11, 2015 3:33am
I was of two mind at that no-demand there- to short or not to, price just hitting my target (blue horizontal line), guess confidence comes with experience.

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The loss was not bad luck. It was bad Analysis - D.Einhorn
  • #26,454
  • Mar 11, 2015 8:14am Mar 11, 2015 8:14am
H4 seems like a difficult timeframe for VSA because the volume of each candle is completely dependent on the time of day at which it falls. Candle volumes during the London session will be huge compared to a candle during the Asia session - how do you compare the two? In fact it looks like the volume on the ND you've identified is actually high compared to that time of day on previous days.
"Never Take a Trade You Don't Understand!" - Pres78
  • #26,455
  • Mar 11, 2015 10:46pm Mar 11, 2015 10:46pm
Quoting ZeeDeveel
In fact it looks like the volume on the ND you've identified is actually high compared to that time of day on previous days.
no doubt even that was a SoW (the next bar is a downer), in a downtrend bars with such narrow spread are supposed to be & someone with more experience would of shorted it than & there but not me. I didn't know what to make of the activity in the background, just a downtrend is not enough for me.

If you see those 3 down bars behind the no demand that I was referring to, all the bars have closed well off the low & the volume is very high, strong bars but what do you have as a reaction to those bars? a no demand!? this one was going another leg down.

Attached Image (click to enlarge)
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The loss was not bad luck. It was bad Analysis - D.Einhorn
  • #26,456
  • Mar 11, 2015 10:58pm Mar 11, 2015 10:58pm
Quoting Vcv13
{quote} I didn't know what to make of the activity in the background, just a downtrend is not enough for me.
That is a good attitude to have.

I wouldnt have considered March 10th a setup. It is in a downtrend so you dont want to take long setups, but you have SOS behind you and you shouldnt ignore that.

On your chart March 2nd you have an UT followed by a ND, on March 5th you have potential selling followed by and ND and March 9th you have a 2 bar followed by a ND.

These I would consider as setups.
  • #26,457
  • Mar 11, 2015 11:09pm Mar 11, 2015 11:09pm
Unfortunately I have to go to sleep, but a nice 2 bar reversal into major support.. All you need now is a test in a rising market.
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  • #26,458
  • Mar 12, 2015 1:10am Mar 12, 2015 1:10am
Quoting SimpleDev
{quote}
On your chart March 2nd you have an UT followed by a ND, on March 5th you have potential selling followed by and ND and March 9th you have a 2 bar followed by a ND.

These I would consider as setups.

Thanks SD, plotted this on the chart & saved for later reference. When you would have actually entered this trade? at that low-demand bar that zeedeveel was pointing or you would checked some lower TF charts to enter a short? it'd be helpful if you show it on the chart, well actually some time back I made a real loss, the trade was correct but timing wasn't, stop triggered.

About the 10th march trade, honestly what I was having on my mind is with all that action in those downbars & now a no-demand appears confirmed someone with right intents was active here & "they" are not ready to go up as yet. The background strength was the reason I was having two minds but with that no-demand at that point I was also hopeful that at least the low of that HV downbar (my target) would be hit.
The loss was not bad luck. It was bad Analysis - D.Einhorn
  • #26,459
  • Mar 12, 2015 6:45am Mar 12, 2015 6:45am
Quoting Vcv13
{quote} Thanks SD, plotted this on the chart & saved for later reference. When you would have actually entered this trade? at that low-demand bar that zeedeveel was pointing or you would checked some lower TF charts to enter a short? it'd be helpful if you show it on the chart, well actually some time back I made a real loss, the trade was correct but timing wasn't, stop triggered. About the 10th march trade, honestly what I was having on my mind is with all that action in those downbars & now a no-demand appears confirmed someone with right intents...
I would have entered in once the ND bars were confirmed.

I didnt have time to highlight them, but looking at this chart you will notice there were days in the down move where it looks like strength is coming in. On those days there are NS bars following the strength, none of those NS bars were confirmed. Meaning the next bar was always down.
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  • #26,460
  • Mar 12, 2015 3:42pm Mar 12, 2015 3:42pm
Quoting SimpleDev
Unfortunately I have to go to sleep, but a nice 2 bar reversal into major support.. All you need now is a test in a rising market. {image}

Call him butter 'cause he's on a roll.
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Without VSA, you're playing checkers while the Smart Money plays chess.
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