possible climactic action on GBP/USD indicating a reversal. Long opportunity??
Kyle,
I went long on that at 1.59750.
Keep the fingers crossed.
Stephen
Out for 22 PIPS just above resistance.
Stephen
Hey Stephen,
Getting of Madscalper, but thatâs ok 
I have attached two pictures for you to look at that I thought was interesting.
Hopefully you have read and learned a bit of Fib theory. I only know a little bit, but one part is that the 61.8 Fib is a good fib line for retracing.
File VSA 1 shows the current high and previous low with the fib. It goes back at the low (obviously) and retraces to the 61.8 Fib then goes back down to the new low.
File VSA 2 shows the fib line on the current low, where I mentioned the climactic action. Shot up to the 61.8 fib and retraced again.
Just shot back up again, so looks like you got another 20 pips. Easy when it is going your way Iâve only taken the one trade tonight for the 20 profit. Have to open another account for practicing the VSA
Interested to know your thoughts on the fibs I drew etc.
Kyle
Kyle,
Im not the best example of knowing where to draw the fibs and when to move them forward with the chart, Im still learning but (VSA1) was a great example of retracing from the 61.8 fib. You make it look easy.
When I took that last trade I didnt even think to put the fib on it despite knowing its importance on retrace. The (VSA 2) diffently bounced off that 61.8 fib, how interesting, just goes to show what Petefader talks about hey!
Yes, tonight has been one of those nights when everything has been working out well 3 from 3. You have to take the good with the bad. I`m just really happy that some of the VSA information is starting to sink in. Still a long way to go.
Stephen
wellâŚ
guys can you share your todays entries with image so that we can see how you guys made it and we missed it.
thanks
kad
See you all tomorrow
Stephen
Hi Kad,
I have attached my trade for today. It is the only setup I was comfortable with for the day with the madscalper. Stephen has made 3 great trades with some VSA included - Well done to Stephen.
The first one shows the view for the evening, and the second one has zoomed in a bit.
You can see that the trend (14 and 50MA) was going down. Had a change to blue with the other indicator, then back to red. I went in at the open of the 2nd red candle and immediately placed my stoploss and take profit.
I did get a bit worried as the trade was getting close to the UK Banks interest news, so I moved my stoploss first to breakeven, then a bit later to 10 pips profit. My reasoning was that the trade would at worst be at breakeven. Sticking to the plan for profit gave the 20 pips, but maybe with a bit more knowledge, I may have been able to trade it further. Maybe a 10 pip trailing stop or something similar.
Anyway, here are the two charts. I hope you can get a bit of insight into it.
Lastly, please donât be discouraged if you donât get it yet. You will get a Eureka moment where it will click and then look easy for you.
Good luck with your trading and reply back if you have any questions.
Kyle
Hi Kad,
I better explain the previous post because I didn`t think the attachment would work. It is the first time I have tryed to attach a chart. The Chart is titled EUR/JPY but it is actually the USD/CAD.
I did not take this trade because I was trading different currency at the time but I thought that I would give you a good example of a mad scalper trade that I would have taken last night since you have asked. I will not attempt to explain my three trades last night because they had VSA involved and I don`t want to confuse you at this time.
As you can see the trade had a good entry while breaking through the strong pivot, reverse area, it also opened high and went rapidly down to the close with a very large spread. That would have been my trigger and entry after the close of that wide spread candle. Notice the sudden increase in volume at the same time.
This would have been a very quick trade (30-35 minutes). In and out.
Regards
Stephen
Agree totally Stephen. That would have been a great trade 
On a side not Stephen, have you managed to get a copy of The Undeclared Secrets that Drive the Stock Market? I have started it and have been told itâs a great resource for learning VSA. Can be found free as a pdf on the forums etc. Also thinking about getting âTrading in the shadow of the Smart Moneyâ. Got a freebie with the first 4 chapters and alsmost finished that one. A few âEurekaâ Moments in it Not trading tonight. US Non Farm Pyrolls and a lot of other news. I am happy to retain my 3.77% profit for the week. Was aiming for 5 each week, but still happy with this.
The Reason why you stay out of the news.
US Non Farm Payrolls came out 18K against expected 105K. Bad news for the USD. Lok at what the chart attached did, and what might have happened if you had a short going on the madscalper. Wipeout. Note the huge increase in price with smaller volume. Tome, it may indicate that the Smart Money was not involved in this and they kept out, probably ready to short very soon.
:56:
Smart money just came in selling. You see the huge âclimacticâ volume and huge range, however a lot of the money forced the price back down. Smart money, in my opinion, started selling as the herd kept buying GBP (selling USD) on the bad US news, which is why the actual price only went up moderately, but did increase during the bar by a huge amount. Now, it will be interesting to see if the smart money will force the price back down shortly, making the herd hit their stop losses, which in turn will make the price fall fairly big. Outcome there, herd money has stopped out, losing any support to buy, so price will go down and âsmart moneyâ wins out. Herd will change their mind because price is seen to drop now, going back to the trend prior to the news and sell short. âSmart Moneyâ will then distribute their position and get out of their trades, while the âherdâ simply take their shorts, enabling the smart money to get out.
My understanding of VSA at the moment.
Hi Kyle,
Just got in. Ive been out this evening. Im not trading either tonight.
I do not have a copy of The Undeclared Secrets that Drive the Stock Market. Im still reading Master the Markets and I am only up to Page 107 on the VSA Thread. Just going slowly but surely trying to get my head around it. Like you said I cant wait to Master the VSA but that is some time away.
Im glad I wasnt trading when that news was released. Woh! It just goes to show the importance of knowing what is going on in the world.
I would have interpreted what happened as the same as you, we are on the same page with this one. Smart Money only came in on the fall ( selling USD), huge Volume on the down.
Regards
Stephen
well⌠well⌠wellâŚ
guys i have been unlucky as usually every time i make an entry. i am being depressed again again⌠:17::17::17::17:
please help me outâŚ
where is my fault here ???
1.50ma not flat.
2. MML is correct i think.
3. color changed right before 1 bar.
4.volume was pretty gud.
please guys i am loosing my grip.
thanks every1
kad
Hi Kad,
Please donât lose patience with this. It does work. It just seems to conspire against us at times. Your timing did look good to me, so it may have been one of those that we all get at times and loses. On a vsa viewpoint looking at it, it seemed like the price was going down on reduced volume, meaning it was running out of sellers and was going to be ambushed by buyers. Petefader said that this would be good coupled with vsa, so I guess he meant it for this sort of thing, where vsa may advise against it.
Keep working on it Kad, and I do encourage you to try to read a bit on vsa as well.
My own experience with the AUD was very poor. I put my own stats up maybe a week ago which showed about a 30% strike rate with the AUD. The strike rate with GBP/USD and EUR/USD was much closer to 80%.
My advise to you at the moment is to try to use this with the most liquid pairs GBP/USD and EUR/USD and see how you go with them. I had less trades last week, but got 3/4 successfully. I wasnât always at the computer last week either. Had meetings etc to go to so missed a few.
So, Kad. I would just accept that last loser as one that was just that. The system is not 100% correct. I have had two runs of 3 losers myself before concentrating on just the GBP and EUR, and since then, only 1 loser. In my other time that has been freed up while watching this, I have been studying VSA and learning how to read where the âSmart Moneyâ is going.
Hope you donât give up. Remember, what doesnât kill you makes you stronger
Kyle
By the way, what was the line below your selling entry. Hope that wasnât a resistance line. If it was, that would havebeen a reason.
Also, it may be useful for us if you had a longer time frame on the chart. Might be able to see some past resistance levels etc
Kyle
wellâŚ
the green line below my selling entry is the sell position. it was not any resistance or reverse.
by the way, personally i like Pete and his honesty about working together. But i am not sure what he meant by VSA theory.
well; i am studying on it. hope i will make it up, currently i want to work with this MAD SCALPING theory.
[B]i think constantly low volume and the pair was the problem with this entry was the reason behind losing that trade.[/B]
am i right ? i am just making point of my mistakes.
by the way, thank you Tassiefx. you are helping me a lot. i wish you a very happy trading all the time.
thanks
kad
Hi Kad,
I believe you are right with your assumption there about the volume and pair
Remember though, I am also new and quite likely to make mistakes. I am happy, however to help anybody as that is what I would like myself as well
The line I meant though, was the red line below your green selling entry, at about 1.0753???
Kyle
Also, just for your interest, I have registered with myfxbook.com and all my madscalper trades are automatically put in to that for anyone to see. The link to my page (I think) is
Error | Myfxbook
Let me kno if it doesnât work for you
Kyle