Have missed out on a few trade opportunities tonight so far, and may even go without because of it. We will see. Have been listening t and reading about VSA and not watching the charts close enough. Stephen brought up a very good NZD trade which was missed. Eur/USD had a nice one just within resistance 2hrs ago, GBP/USD had one 3hrs ago along with the Aussie, both of which would have just come in under the resistance, so it does pay to watch carefully. Let’s see if the US open gives us anything more. Hoping for one trade tonight, but will only do what the charts and system tells me.
Hi Kyle,
What do you make of the Volume 1 1/2 to 2 hours ago on the USD/JPY 5 minute Chart.
As far as VSA goes it looks as though professional money has been buying up longs and forcing sellers to sell.
It not easy trying to get your head around the VSA, but I think I am getting there.
Regards
Stephen
Quite possibly Stephen. I am trying to get my head around it too. A good challenge for me which like.
Need to wash my mouth out with soap atm though. Took a long position on the AUD looking at the drawn in resistance levels. After looking at the chart myself, I noticed a recently set up resistance level just above my buy in. Dammit! Compounded with news from the Eur with a vote against medium term austerity moves in Greece which shot the AUD down. I am assuming it was that reason as many currencies took a short term hit. Namely the Aussie, GBP and Euro. All hit back with high volume ains again though. Let’s see if they continue the support or if volume drops off. May not be the night for me tonight. Lesson learned though, which, in itself, is good 
You can add the USD/JPY to that list of downers.
They just changed the scale on the page to copy with the rapid fall and the volume.
Clad I wasn`t trading that one!
Stephen
Along with Euro/JPY.
That one dropped just over 100 pips in 10 minutes!!! Crazy stuff. The vote is now done, so some normality should kick back in soon. I’ll only be looking for the next half hour anyway, but not too sure of any entries yet. Personally think we are at or near the top of the current range, so Madscalper entries wont come up for some time in my (inexperienced) opinion.
Remember, one good thing with it all. We all do/should place Stop Loss as soon as the trade is set up. The last half an hour or so shows that it is so important to protect the money in the account. I hit my stop loss and it could have come back (in hindsight, it did), but sometimes it just keeps going the wrong way and you end up with a margin call on your hard earned. My 2% loss still gives nearly 4% for the week. My stretched target for the month was to average 5% each week, so still within reach with just one good trade tomorrow
Nope. I’m all done tonight. See you tomorrow
See you Kyle, me too
Gidday,
I`m in a trade on the EUR/USD, went short at 1.44822 and currently at 15+Pips.
Stephen
Out for 20 PIPS, Yes
Stephen
Fantastic stuff Stephen I was watching, but my MT4 indicator didn’t have that pullback quite enough. Different MT4’s will show slightly different. Very good start to the night though. Just wondering your thoughts/opinion about getting a “chatroom” thingy set up where like minded people applying the mad scalper can put in opinions and trades etc. Think there may be three of us at the moment, but it could increase with a bit of time, and then we could all learn together there. Just thinking that this thread may end up getting convoluted with our conversations etc and may end up going a bit past the original idea from the thread, learning how to apply the mad scalper.
I’m going to have a look tonight at what can host something like that, most likely if I can get a “room” set up on Skype maybe and see what happens with that. Thought Skype would be good as it notifies you when someone writes on it.
Anyway, interested in your thoughts.
On another point, the Eur/USD looks to be almost ready for a short as well. Has come through resistance and in a pullback at the moment. Guessing shorts tonight in general. Let you know when/if I make an entry
Kyle
Hello everybody
I need the last update for this system if you can please
Just opened a chatroom within babypips if you anyone is interested in going to it. I am just taking my son to bed and will be out for about half an hour, but will be back after that for about another 3 hrs watching for setups
Not sure what update you may be after Billionaire2008? No trades at the moment. Eur was close but trading just on resistance isn’t a good idea. Head to the chat room in half an hour or so and hopefully we will chat there if you like
Thats me for the night. Im going to spend the rest studying VSA.
Stephen
Aud short may be coming in the next few bars
Good night Stephen. Will be doing a bit of VSA studying myself once my son is settled
Alrighty, just gone short on the AUD/USD @ 1.07100, 20 pip S/L and 20 pip T/P
Just stopped out* *2 losses and 3 wins for the week so far
Last post tonight (bloody late but not sleeping today). I ahe just analysed the last months trades which is pretty damn interesting. Before I did so, I truly believed I went best with Eur/USD and the AUD/USD. Below are my trade numbers for the last month.
AUD/USD 4 wins from 12 - 33% strike rate
GBP/USD 10 wins from 12 - 83% strike rate
EUR/USD 9 wins from 12 - 75% strike rate
USD/CAD 3 wins from 4 - 75% strike rate
NZD/USD 1 win from 3 - 33% strike rate
EUR/JPY 0 win from 1 - 0% strike rate
I would have thought that my trading periods was when Sydney was closed and US/London was open, therefore I had a better handle on news events as I only had to look at the US when trading AUD. Very wrong. The next month, I think I will narrow my pairs and concentrate on the highest liquidity pairs, being GBP/USD and EUR/USD. I will do some quick stats to see what bank balances would have looked like if I only looked at those pairs. With the above 61% strike rate, I did grow a demo $10k account to $12368, a profit of $2368 (23.7%) but I believe it would have been better if left to just the two most liquid pairs. I will calculate what it would have been with those pairs and post that for those who may be interested.
OK,
I have just done a theoretical count with my trading plan and using Only the GBP/USD and EUR/USD trades at 2% win/Loss per trade, the current bank balance would be $13194, a profit of $3194 (31.94%) for the month. That is with 19/24 trades for the month. Longest winning run being 6 and longest losing run being just 1. Max Drawdown for the month was $249.
From here, since I am in my 5th week on the current demo acct, i think I will start a new one next week and trade that one just looking at the GBP/USD and EUR/USD pairs. I will also look at my previous account and see how that went with those pairs.
btw if anyone wants a copy of the spreadsheet I use for trades, it is very simple and just shows daily profit/loss along with graph etc, I can email it or post it here??? It is basic, but offers a slight difference to the MT4 report which is more in depth. Basically a good spreadsheet for a quick glance.