vsa with Malcolm

Watch for a massive usd spike on the retail open.

Friday was a lovely ND on GBPUSD daily chart just in time for the FBI to clear Clinton. Right at. 38.2 retrace of the move down that started in Sept if you follow that sort of thing. Wasn't that convenient? Watching my line in the sand level intently when price gets there. That is a key point that will show me if the bulls are really there or if this has been nothing more than a bear rest.

RIP Tom Williams

I pictured a rainbow
You held it in your hands
I had flashes
But you saw the plan
I wandered out in the world for years
While you just stayed in your room
I saw the crescent
You saw the whole of the moon
The whole of the moon

You were there at the turnstiles
With the wind at your heels
You stretched for the stars
And you know how it feels
To reach too high
Too far
Too soon
You saw the whole of the moon

I was grounded
While you filled the skies
I was dumbfounded by truths
You cut through lies
I saw the rain-dirty valley
You saw Brigadoon
I saw the crescent
You saw the whole of the moon

I spoke about wings
You just flew
I wondered, I guessed and I tried
You just knew
I sighed
But you swooned
I saw the crescent
You saw the whole of the moon
The whole of the moon

With a torch in your pocket
And the wind at your heels
You climbed on the ladder
And you know how it feels
To get too high
Too far
Too soon
You saw the whole of the moon
The whole of the moon

Unicorns and cannonballs
Palaces and piers
Trumpets, towers, and tenements
Wide oceans full of tears
Flags, rags, ferry boats
Scimitars and scarves
Every precious dream and vision
Underneath the stars
Yes, you climbed on the ladder
With the wind in your sails
You came like a comet
Blazing your trail
Too high
Too far
Too soon
You saw the whole of the moon

Tom Wiliams wish you resting in peace

That's terrible.

I met Tom a few years ago. Very pleasant man who loved the markets. Will be missed.

Sad news indeed.

I will be attending a live trading session commemorating his life.

He lived well...a life of purpose

RIP

When is it?

this thursday

http://www.tradeguider.com/events.asp#

Indeed, Rest In Peace Tom Williams. A great contributor to trading knowledge.

Anyone trading today?

Yes,
Sell the dollar.
Pretty easy and its only started

I wasn't paying attention really and didn't see the trade in time. Looks like a nice short on GBP.

I've spent a few days thinking about whole concept of following the trend.

I think I've come to the conclusion that you can have 2 people that trade the same system same rules and yet be on the opposite side of the trade. People see things differently and you have to adapt to the way you trade based on what you see.

I personally don't see trends when I trade, I see S/R and supply/demand zones.

You have to trade what you can see and adapt your trading to that. I won't see trends, so I have to accept when I'm wrong and move on.

Are you paying that much for swap $21K? how come your broker charge you but doesnt pay out when you trade in the other direction?

RIP Tom Williams. The giant, the Genius of Trading the markets. A lot of us would not be here (in this forum) were it not for the fact that VSA works so well. Tom is the true Man of the People, he wanted to level the playing field for all of us, so we would not be ripped off by the "smart money".

In honor of Toms works, I want to bring something forward into the VSA arena in which I hope it will examined by the Pro's. This is not for the newbies.

Tom mentioned it once, & I never heard of any reference to it again. I have not seen it in any of the posted charts (I am very open to correction on this point).
Pyramiding.

For the last 3 months I have been testing it out, along with another idea based on Wyckoff "effort" bars. The results were amazing, but I had to radically change my risk strategy.
I have thrown out my 2% risk per trade in favor of a 30% overall combined risk for one reason only. My rate of recovery from a "bad" position is very fast, within a day or 2. So, for me, it makes it worth it for the kind of results I am getting.

Practice it first, then decide if it is for you. I have my own style. Lets see what you come up with.

I'm just throwing this out there for the sake of open discussion only and I mean no disrespect.

I use to read the Sonic R. thread back when it was popular because it was kind of volume related. I remember 2014 and 2015 when Traderathome was trying to develop his PVSRA and he kept telling people to trade lightly. Basically what he was telling people to do was to keeping adding to their trade until they get out of bad positions.

There was at least 3 occasions I can think of where NFP or some news heavy release came out and 20+ people would post that got a margin call. That's probably ok if you aren't trading any serious money, but think if you had a 5 figure account or higher and having a margin call.

Pyramiding is a very powerful tool, my personal opinion is to only pyramid in when the position is going in your favor and also breaking even every time you add to your position. I personally want a trading plan that allows me to make mistakes without doing serious harm to my account.

Hawkins, I so agree with not adding to a losing position. Thanks for your input.

I do a technical pyramid in the right sequence, ie. add to a winning trade. My personal style is to cluster them in a fairly tight range. Then I watch to see that it stays inside that range of supply or demand.
I do not pyramid more than 3 entries in a tight range cluster, for the sake of risk control. ( Risk is set at 10% of capital on each entry).
Others might have another method. I want to see what else is out there.
Yup, NFP day, had one good one.. then did a technical wipe out in the early days of testing the idea.

For testing purposes I traded 1/10th of my normal lot allocation so as not to wipe out my account.

Did anyone attend the TG webinar with Gavin Holmes? I'd like to hear other peoples opinions on smart center pro.

I had to leave, my personal opinion is that smart center pro will be terrible for new traders. He only did a slight mention that he was looking for sells on Euro, but thankfully he talked more about Gold and JPY.

When he was mentioning looking into sells on Euro we were at a major support level 1.0880. Me personally I don't sell major support, if I believe price is still bearish I simply look at other pairs and let price push down through support without me.

Nice NZD trade today, USDCAD looks like its weak but NZD came up with a test first.