I think sometimes people get lost in the amount of trading profits he makes. And they forget or don’t understand that his trading account is huge! And at that amount, even making a consistent couple of %'s in profit is really good in like absolute terms, but small as a % of his account. Not sure I’m making sense.
Anyway, I forgot about him and now you reminded me of him. Thanks!
Hello,
Yes, what you said makes a lot of sense. Unfortunately, many people are dazzled by large profits and overlook what truly matters: studying and understanding the process that leads to those profits.
Personally, I have never wasted much time considering how much a trader earns, because that can depend on the available capital—and that is a personal and private matter concerning the individual trader. More than the dollars, I place importance on pips. A trader might earn one million dollars from a trade that gained 10 pips simply because they have a large capital, while another trader might earn 100 dollars from a trade that gained 100 pips because they have a smaller capital. However, for me, the trade that gained 100 pips holds more value from an educational perspective than the one that gained 10 pips.
I use Ichimoku as my main indicator as a swing trader. I use it on the daily as my trend anchor, 4 hour as my trading time frame. I use anchored VWAPS and Volume Spread Analysis on the hourly for entry.
There are many strategies that involve this indicator such as kumo breakout, kumo bounce, kijunsen and tenkansen bounce. It is a trend following and momentum indicator. Once you learn the basics of the lines, you only know part of the system. It goes deeper with price theory, wave theory and time theory. If you can master all of that then it is a powerful trend following system. Trouble is that some traders don’t fully understand or have the patience to understand it and say it’s a bunch of moving averages which isn’t correct in the SMA EMA sense.
You can look at the chart and get a quick assessment of if the market is trending/consolidating, dynamic support and resistance, and even potential future market cycle turning points.
Like anything you have to take time and practice to learn. It’s not the silver bullet as is anything? But IMO a very good indicator.
Best.
I have never given myself time to watch those so called professional analysts analyze the market.
However I am of the opinion that there is nothing magical about their analysis because the market only moves on two directions. Up and down.
The ichimoku is simply their way to sound professional, just the same way your doctor would unnecessarily explain a simple headache in medical terms.
Woah cool. Not a lot of talk around here about VWAPS and VSA. Can I ask what broker you use? Does that make a difference you think when thinking about volume?
See this is why this place is great. Posts like this! Would you say Ichimoku is geared more for longer term trading, so not scalping?
I day trade for the most part, usually hold for minutes and hours, but can go a day or two.
Thanks man. Great info! I got some things I need to research!
I mean it worked on me! Could also be a sign of dedication or like commitment for them, learning and understanding something that’s more complicated that say a MA crossover strategy.
I think there won’t be, really, because most people around here are trading forex? I’ve noticed already that I’m in a small minority!
(VWAPS and VSA are both volume based, of course, and spot forex doesn’t have volume figures available as it’s decentralized, so there’s nothing for any VWAP or VSA to be based on or derived from.)
Each broker has access to the “volumes” of their own customers, though?
Not suggesting anyone would trade on the basis of an “indicator” based on that, because it’s not even actual volume, I know (which maybe accounts for the brokers that purport to give their customers a VWAP all having a different one?!).
Puzzled. 
Are you trading futures, @samewise ?
If so, it makes absolutely no difference which broker you use, in the sense that they all have the same prices at the same times, and the volumes they show (and therefore the VWAP etc is derived from them) are just CME volumes, to which all have access.
If not, there are no volume figures to trade from, as mentioned above (apart from arguably the not-real-“volume” of your own broker’s other customers).
Na but it’s on my to-do for the year. I got an account but haven’t funded it or even set up a demo account yet. I’ve been meaning to get on that.
I was wondering if @nuclear1980 trading the volume stuff on a fx trading account. I know trading using volume analysis is big with futures trading. It’s one of the reasons I want to give it a try. Just wondered if nuclear1980 trading fx AND using VSA and VWAP.
In FX as there is no centralised exchange and so you have the tick volume from your broker. However, I have read that it is a close match and having tested it works fine.
So, if you want to use Anchored VWAPs then check out Brian Shannon’s work. It is based on stocks but applicable to FX.
In respect of VSA I would highly recommend backtesting and forward testing because it isn’t exactly beginner friendly. However, saying that volume is a leading indicator and if you can read the accumulation / distribution and understand market structure then it will help you. Read books by Anna Coulling.
I tend to look for high volume validated by spread around the major AVWAPs as where the big boys step in.
Once you have worked out a system / strategy that fits your personality then test it out. I am constantly trying to refine what I do and not over complicate matters. Simplicity is the market’s best kept secret.