Great thread and approach…been at this game for a while now (6 yrs) and do most of my discretionary trading via Elliott Wave. I find the VSA approach very useful when it comes to determining the beginning and ending of certain waves in the sequence…Very, very powerful to say the least.
On many occasions, I will have more than 1 entry point as well as more than 1 target. Now, combined with your approach, I can tell which of those areas is probably going to be better…from a risk:reward stand point…
Excellent thread. Screw the haters. We all know they are just jealous that someone is actually making money and they aren’t.
Hi, i got some question for you hope you don’t mind answer.
Which pairs do you trades and which pairs do you find the most comfortable with?
What time frame are you looking at, as I see you trade 1 hour, 15m and 5m. I mean that, at the start of trading day, you would glace at all the mentioned time-frame to get the signal or you wait at certain time frame and then define the perfect entry at 5m?
Will you let the trade run over night?
Thank you so much.
I hope you could post your chart along the way as they thread going for others also see what you are the possible area you are looking to buy/sell, waiting for signal as well. It could be great.
Hi Petefader,
Thanx for the Master the Market link that you sent me.
I’d like to trade at some point but feel I don’t have all the tools. Could you suggest a software to check out volume? I’ve got a MT4 demo account but the functions are limited and I can’t access historical data.
Are there any other tools you can suggest?
The last few months it’s been mostly E/U, 1-3 trades per day. I used to trade yen pairs too, liking usd pairs better now.
I get the TF question alot. VSA is about taking into consideration the background story to influence trading desicions on current setups. Different time frames are just ways off looking at that background story in more or less detail, and in various cycles.
The price and volume are always the same…its only those silly indies that give you different signals per TF…goofy.
So, if I know my background, I can follow the story in detail on the 5 min and get a fine tuned entry.
Love the system, and the pdf on Master the Markets!
Have you, or anyone else who follows this thread, been able to take many trades this week? The market seems slow because of the impending holidays. Do you think it will pick up next week?
That was 300 pips ago. Bought 2 dips today, first one was easy…50 fib rejection 1.3250. Nice how London started with a down move…gotta trap the herd whenever possible.
Here’s a snapshot of open positions by traders, using Oanda. This is RIGHT before it took off upward from that .50 fib rejection. The majority of traders are POSITIONED SHORT. If they were not, then it would have gone lower untill they were. The fix is in.
I wish I did have time to practice, I’ll just have to make the time.
by the way - the only other thread I put effort into finishing two times was a scalping method on the 5 minute time frame. something about being an angryscalper . . .
One word per post - but moderators said I was bumping. oh well, I broke the rule. ignorance is not an excuse.
I was trying to say petefader - I believe what your posting, Now I am going to prove that “I” can do it.
as the only way it matters, is if “I” can make profitable trades.
I do have a question if you don’t mind however and sorry but it’s probably a very green one.
You did mention at one point '. . as the normal cyle does . . ." or something like that - noting there is sort of a cyclical behavior.
Another part of that statement was the during the London open it often tells or shows it’s hand if its at a fib level or a double bottom/top, etc.
The question is: what do you mean by cyclical?
or
let me give a short story and tell me if I know.
guessing :
On a 5 minute time frame, you may see several cycles in 1 trading session where volume at a double top shows a reversal, then an hour or two later you may see a 50% retrace with a high volume pin. then within an hour or two that move breaks it’s high and there is another entry
so you could see up to 5 or 6 trades based on your volume info - in the 5 minute time frame
vs
on the hourly time frame I suspect/guess that if you would see two sets in one day - you’d be counting your lucky stars? more like 1 setup every 2 days?
sorry for such a fuzzy question, but obviously, i am not sure.
lol, I did see those posts before they were deleted. Are you considering the phases shown in the first post? Looking at the 1hr, 30min, you need to first indentify the phase you are in.
Warning : im really beginner in VSA.
I would know what is the best timeframe for identify accumulation, reaccumulation, distribution ,redistribution steps ?
for a scalping of 5 - 15 min TF ?
regards
To identify a phase I like to look at the 30min and 1hr. Then use the 15 and 5min for fine tuned entry.
Today the 1hr showed clear re-accumulation at .50 fibb.
On the 5 min it showed a double bottom and push through supply for entry. Daily chart shows bounce off a lower trend line, also supporting the long.
omg - am I humbled some more - -
Your answers unfortunately did not seem to fit the question I intended to ask. . and in fact humbles me back to less than greenhorn. Dam
I probably should have asked that one first. . . and now getting off the original question, just to hopefully have you explain what you just said.
I am confused - as to your comments - go figure.
As the quote above states - you said
"Accumulation, Markup, Re-accumulation, Distribution, Markdown, Re-distribution."
I think I understand the concept, I need to practice putting concept and reality together.
and then
"I only trade in the expected direction based on the phase. Today was an example of Re-accumulation."
So I am understanding that an entire day can be used as a Re-accumulation process,
so what does the next statement mean?
"We had Accumulation in Dec., then it began to mark up and retraced, giving a re-accumulation entry for a continued markup. "
So now accumulation can take a whole month, but as above Re-accumulation takes a day?
K then
you also state -
"Now I’ll be buying dips untill I see a climax and distribution begin. Then I will look for shorts"
Which sounds intraday - like you expect to climax - see distribution - then look for shorts - --all in 1 day?
I see, you were asking about daily cycles. NY close into Aisa is when the London/ny move tends to retrace. You can get a sense of what is to come for london as price reacts to that retrace. If it doesn’t retrace, that would suggest alot of strength in the trend etc. Its a good gauge for london, and has to be considered “background” in VSA terms.
petefader would you mind posting a chart of a trade you made -
but do this for me/us - mark it up like you would try to explain it -but don’t explain it. Let us on the thread come up with our explanation and then you come back with reality. For example cirlce this arrow at that - rectangle this line across that. type of mark up.
Maybe even do this twice one for a sell trade you made and one for a buy?
But please do give a hint, like – I did check higher time frames, and based upon info there I felt this was a valid trade (again don’t give the details yet)
or
All the info on this chart I did use, but there were two other peices of info I gathered from left of this screenshot.
hope you don’t mind answer.
