This is a ebook from the creator of VSA volume spread analysis.
For anyone confused about anything in Forex, your prayers have been answered. 185 pages of perfectly understandable charts and understanding of how the markets work.
Nothing to download, just an adobe file which opens as a webpage. Im on page 65 and feel like most of my questions have already been answered.
Its not just about volume but it covers many aspects of trading.
Maybe so, but I believe that Volume spread analysis is the key. And this book was written by the guy who invented it. The rules for VSA came from him so IMO this book is the gospel
But you can’t just take the stuff in MTM and apply it straight to Forex, this is a big mistake that a lot of traders do, what works perfectly well for stocks does so because it most likely was developed for stocks, you have to adapt stock strategies to forex.
In MT4 in Forex you can see the tick volume which is basically showing the amount of activity. The idea is from this point is to work out whether that acitivity is buying or selling - combining this with the candles can give you a major advantage when trading. Im about half way through the book and currently trying to catch up on Petefaders VSA thread - interesting stuff.
Helping me to understand [I]what and why[/I] the markets move in the direction that they do. Can definitely see this being a big part to my trading…
Later I will upload my MT4 template. I think I have a great setup. All that remains is to add your fibs and Support Resistance. It shows Better volume and also the Spread in a simple to read way. Along with the sessions times. Keep an eye out for the upload later today.
That makes sense, San. Seems like not quite as good as real volume would be, but if it works, then it works. I can see how this might work with a lot strategies.
What do people think of the template? I really like the Spread indicator. I’d love to use the bar chart in MT4 but the open annoys me. I understand the best thing to do is ignore the open prices. the tradeguider system just shows high low and close. Unfortunately i dont think there is anyway to do this in MT4 so i am using candles.