Supply/Demand, VSA, Wyckoff with Petefader

Note this crucial decision to limit risk and still [I]listen to the chart[/I] and stay in when I was thinking to close.

There is potential stopping volume now on our 61.8 test. A bullish close around here would tell me to close another 1/4 of the trade, if not I’ll hold. Listen to the chart. :slight_smile:

Edit: closed another 1/4 after the bullish close…only 8 pips. With no risk I didn’t have to, but realistically it’s struggling with that fib area. So, half the trade still on. Either it’s gets though the fib for some more targets or not, whateves.

Cool. I still have 1/3 running, closed the rest and I bet BE will be hit in a moment.

Perfectly fine if it does…you wouldn’t want to find yourself sitting short off a fib/stopping volume bounce and looking at that draw down. Got a crappy hand, fold lol.

No I wouldn’t want that! I rather want to relax tonight without that on my back :wink:

And there it goes, BE hit :slight_smile:

Edit: Hmm… But price didn’t even reach up to my SL, like 3 pips away… Strange

Yep, we’ll see how this turns out with no worries. At the very least you had a fine bit of scalping on a choppy day. Well done (besides nobody watching for news lol).

edit: I see your out…I’m up 2 pips now lol.

Danny…talking about trading off 1hr only. Waiting for that close as I said…the entry price was the same as our 5 min entry lol.

Are you sure you are looking at the ask price. In other words the buy price? It’s a buy since you’re closing a short. MT4 by default shows bid price. It’s only accurate as a SL when in long. Otherwise you have to account for spread.

Yeah, atleast we got something out of it :slight_smile:

Yes you’re completely right there, my mistake :slight_smile:

I was out for the one earlier, but I


took this one, cheated on the entry a bit :wink:

When/why did you enter this trade?

Your volume looks pretty bad…don’t use fxcm. Get a demo from IBFX.
…and Better Volume is useless imo.

Haha what’s the odds of that really! :smiley:

Btw, have your trade hit BE yet?

Nice to see you guys sharing your exit strategies. I closed 2/3 on that no supply bar after the initial demand came in and locked BE on the last 1/3. Goin to move SL down and lock in +9 above that top…maybe…more demand just came in. We’ll see.

My exits are improving but I still find myself hoping against what I see on the chart, and thats gonna have to stop if I am goin to make any money.

This was an excellent first day back, and although I had planned on putting this trade on anyway, it definately helped to see you guys eyeing the same thing. Kinda feels like i cheated off someone in class though lol.

Nope, stop is 68.2, my broker shows a high of 66.9 on the ask. :stuck_out_tongue:

You’re only cheating yourself lol. Yeeeah, that’s why I don’t like to post to many real time entries. But since you are learning to do it yourself, I’ll let it slide lol…go watch all the videos again to make up for it. :stuck_out_tongue:

Edit: sorry I got you mixed up with Jimboson…who did the actual cheating lol.

I already plan on doing that. I am obsessed with this stuff, just ask my wife :slight_smile: I spent the weekend reading the whole first thread again on my phone at work to prepare for 3 days of trading.(beginning thursday I work 34 straight 12 hour days, so this is the only chance i get and I wanna make it count.) I have read many many threads on VSA, and yours are the only ones that seem to wrap the whole concept up nicely. I understood the concept of the whole accu/distr cycle, but I never really saw it on my screen until I read the 1500 thread. Plus you laying out where to look for stopping volume or buying climaxes, and then me seeing it happen on my chart was unbelievably eye opening. I was busy looking at WRBs and not grasping the big picture.

I was down 9% on my account and after seeing your thread, and just a handful of trades later Im only down 3% and climbing out of the hole. So…thank you very much.

When Im done working all that time I plan on doubling what I have in my account and trying to make some decent money with this :slight_smile:

Great! Keep up the good work…that’s nice to hear.
WRBs eh? So those VSA “experts” in the greatest VSA thread ever, couldn’t help you become profitable, but I did?
lol…I’ll shut up now. :21:

Don’t look Danny, just don’t look man lol.

Closed another 1/4 here at 61.8 for 18 pips. It is what it is, it’s getting late. I have that last 1/4 on with no tp at BE.
Handling the trade just the way I’ve been explaining. Another good example today. Making the best of what is really there, and letting a small peice run with no risk since there is still a chance for this background to play out more.

Haha…very funny. But it seems to be the case.

I don’t wanna bash them though. They have put in a lot of effort to help others and I did learn alot about what makes a good VSA bar and a not so good VSA bar. But yea, when it comes to noob traders and VSA this is def the place to come.