stopped out
can you pls give me the templates of ur vsa system or tell me where you explain it?so i can go read itā¦thanks.
can any body creat an ea for dis system?or if theres is already pls give.
Hi Fabulono1,
In response to your last few posts. The VSA system does not really have a template as such. You just add volumes to your chart and most of the trading is done ānakedā with attention going to the support/resistance levels. You also draw fibs to your chart and pay particular attention to the 50 - 61.6 fib lines. Reading the 1500 pips per month thread will be very good education for you. It has helped me immeasurably, and continues to do so.
There is no ea for the Madscalper system. One of the issues is how do you code in support/resistance levels. To make a trade in the madscalper, it is very inadvisable to make a trade through one of these levels. Just in looking at the madscalper chart and the few other bits like support/resistance and a little knowledge from VSA will make this successful, or more successful than the chart alone.
I traded with this system on demo for months, always in profit. I managed about a 63% success rate over the trading, which netted over 10% each month which is great, but remember it was also on demo, so no fear etc with losing the money. With the VSA knowledge I have picked up, I believe I can probably get it close to 70% maybe, but have decided to learn VSA as much as I can first.
My reason for wanting to learn VSA - I want to make a trade when I see an entry and exit with my own eyes, and not because an indicator has told me to. I want control over what money I invest into forex trading and not rely on a 3rd party product, however good it is.
Negative maybe on madscalper - You basically go for a 20 pip profit and 20 pip stop loss. OK mostly, but just imagine all the profit you may miss out on with large up/down movements. I want to be able to make 100+ pip trades every now and then, and understand when to exit, that is where VSA knowledge comes in.
Sorry, I think I have gone on past what you wanted, but do hope it has helped a bit. Post back if not or if you have anything youād like answered. Petefader does come on every so often and there are others that come in every now and then as well.
Good luck trading 
Kyle
thanks so much Tassiefx,u answered me welllā¦i dnt use madscapler the way u thinkā¦its profitable i trade it liveā¦i use the last low or high as my stoploss and i trailstop it when it at any resistance and support level.hope this help u too.
Not a problem Fabulono1.
I like to help where I can, just remembering that i have only been in this for 12 months now, so still relatively new. Slowly working things out and what my own specific trading personality is. I will also take on what you said with your trading of the madscalper. Definately worth looking at as I saw a lot of pips lost with the TP levels rather than letting the profits run. With VSA though, you should be able to tell when the profit run comes to a distribution/accumulation or reversal so should be able to run profit to much closer to its potential. Also may be able to regect the odd trade that doesnāt look right with VSA principles and hope to get that strike rate up
The surge in volume was due to Austrian Parliament apparently not approving a EFSF Upgrade, whatever that is. It required 2 votes out of 3 to get through.
That news came out and we lost 60 pips in a 5 minute candle. Then the news was corrected saying it wasnāt voted down, but deferred to later this month which helped the retracement. Would be quite volatile at the moment until normality comes back in, however I have been waiting for a long signal to come in. I currently use 1hr to check initially then 5 minute for entry. Currently sitting just off the 50 fib, so if things settle a little bit, I could expect hopefully a no supply and a subsequent candle close above the prior one for a buy signal.
Hope that helps. Past my bedtime now (1.00am here) so that wil be it for me tonight. Happy to reply to anything else in the morning though.
Happy trading
Kyle
Ah, the 15 minute did show a low volume No Supply and would have been a very aggressive entry at the start of the current candle (about 20 pips in the bank there at the moment), however a normal entry would be at the end of this current 15 minute candle. A win for the aggressive just then. Just blew to 30 pips profit
That would all have been if you entered on a 15 minute chart, but my entries are based on a 5 minute and the entry didnāt show up there unfortunately.
How are you Tassiefx, good to see another Aussie hanging around here. I have just finished all 145 pages and started to demo with some good results. I think our problem is the best times to trade happen in the middle of the night! I follow a few charts during the day at work but it just ranges and support/resistance is tight. You need volume to get things moving. I might follow your lead and head on over to the VSA thread soon enough and try to get an edge in these markets.
Hi Daboz,
Funnily enough, there are a few of us Aussies on here at times. Although the active times are a bit different for us, it suits me personally. I can continue my normal day job and enjoy time with my son before the volume picks up in the market. UK starts about 1700 and volume picks up by 2100 (my son is in bed then) so I normally hang around till about midnight and get a small amount of the NY session coming in as well. By then, volume starts to drop anyway, as London is nearing its close for the day. Madscalper does definately work, and I have used it in the 1800-0000 period for about 3 months straight and come away well profitably, but you should be able to see those results some pages ago. I am currently learning VSA and will be applying that to my own trading. While indicators are great, I, in the end want to make the decisions and then be able to hold myself accountable to them. That way, when the market changes its mood, I should then be able to adapt better than an indicator, which may be suited more to bull/bear sideways markets. The last few months for example have been pretty poor with the market not really giving up any real neat movements, but if a person can adapt, constant profit would surely be attainable. On that, at the moment I am hoping there is ample evidence to see the EU start to pick up again, but personally also think the AU may break below parity then enjoy another nice ride up. Just gut feel at the moment, but am waiting to see it all in volume
My big advice to you will not be in a particular way of trading or anything like that. I have been playing with this for about a year now and practiced with quite a few systems. Two big important things you need to do or find. Find the system that resonates with you. I have found VSA as my thing, but more importantly, you have got to nail down a kick ass money management plan. Study money management thoroughly and learn as much as you can. A person can have a system returning 70% strike rate and lose money because of their bad money management plan, and another trader can return 40% strike rate and make money. It is the marriage between your plan, its strike rate and your money management that will determine your success or failure.
Lastly, Iād love for you to have a look at Petefaders 1500 pips per month thread once you have learned Madscalper. It is truly an eye opener.
I think Iām starting to blabble on too much again Ask any questions. Someone will answer them for you. I know Iāll put my bit in for you. I like to pass on what I know, but just remember, I am a learner too on demo, so not making real money yet.
Wise thing with that I read the other day. Make sure you invest in yourself before you invest in Forex. ie make sure you learn what you can before puting hard earned into a broker
Happy trading
Kyle
I think that thread is too long to read through. There needs to be a simple pdf with most tips in it. Its too bad peteās youtube videos werenāt more informativeā¦but I personally use the madscalper system mixed with ichimokuā¦
Strange you say that EmptyEternity. One of my little projects that I still havenāt started is to go right over that thread and turn it into a guide for me with all the useful information and graphs etc. It is a great resource. You get some real good pearls from it, for example, I found this link in there which helped me a bit Untitled Document
Anyway, it is still good free information, so anything learned from in there is good. I do agree though, it is rather large now, but that is also because of so many people benefiting form it and having their bit to say, ask and show
Thanks Tassiefx, very true about money management. I found this small piece of info on fxknight;
āThe final, and by far one of the most important factors to your success is
money management (sometimes also referred to as position-sizing). To illustrate
just how important it is to your final results, there has actually been a
mathematical study which confirms that even completely random entries, based
upon a coin toss and yielding only a 35% āwinā ratio, can produce steady profits
when combined with proper money management formulas.ā
Just shows that money management is key in trading success. There is alot of good info throughout this thread, I have picked up alot and added to my own rules. I am demo trading using the 5min system but also playing around with 1min entries.
Also for interest what money management practice do you follow? I practice the following;
10K account (mini) trading 10K mini lots.
2% margin 50:1 leverage.
Risk 2% per trade. No more than 6% exposed in open trades at any one time.
Trying for a 3:1 risk reward, itās more like 2:1, 1:1 at the moment working with the SL at last high or low to avoid being stopped out by the spikes.
So let me see if i understand this
If the current price is below the 14 EMA and the 50 EMA is sloping down and hte 14 ema crossed down the 50 ema going down then i would short all my trades?
If the current price is above the 14 ema and the 50 ema is sloping up and the 14 ema crossed above the 50 ema going up i would go long on my trades?
I think i could use the a little clearing up one when to enter and when to exitā¦
I would also use a 5 minute chart correct?
Also where would i place the stop and limits would they both be a 20 pip stop and limit?
What other indicators should i use along with this?
thanks
PGH
Hi pghud3,
The following is an extract fromt he first post for your consideration
If the 50 EMA slants down, and 14 ema stays below, you would now look to short instead of long. Entry on that would be AFTER A PULL BACK of the down move (blue then red, and all conditions met).
Basically, the entry is after the pull back against the direction of both the 14 and 50MA lines, a change of colour away from the prevailing colour, then once the colour changes back for a bar.
It did take me a bit of time to truly understand it and trade it without reference to the document, but it will happen in time.
What i did, and I suggest any others new to this type of trade, is to print out the first post and keep it there as a reference. It will be picked up pretty quickly
Kyle
Hi daboz,
Money management for me on the madscalper was pretty basic, as I wasnāt real good at identifying exits through volume when I was using it.
I risked 2% of the account with each trade, put in a stop loss of 20 pips and a take profit of the same 20 pips. A low 60% strike rate did seem effective as has been illustrated a few pages ago with my real time results etc, however, I felt that I was losing out on longer runs and subsequently have started to learn the vsa side of it so I can better identify entries and exits. Interestingly, a lot of vsa setups are also at the same time as a madscalper setup. I just fiund it better to be able to identify something myself, rather than rely on an indicator. That way, I am able to change as the āpersonalityā of the market changes, and I can also keep a bit of an eye on the news reports before making a trade
Just out of interest for you, I traded the Madscalper for 3 months consistently on demo accounts, averaged between 60-65% success rate and gained around the 5% mark per week.
I did analysie it a bit and thought my AU trades would have been the good ones but was less than 20% strike rate, however the more liquid EU and GU pairs traded above the 70% rate. I concentrated on them only for a month and had much less trades, but less losses as well, so time in the market was reduced. Some may say risk is also reduced maybe
Kyle
Here is a thought I had last night. havenāt tested it myself yet though, but may be useful.
Generally, an up/down move happens in 5 waves (I did say generally). How about we looked at the entry as normal on the Madscalper, with a bit of an eye to VSA to confirm that entry, and instead of going the 20 pip S/L and 20 pip T/P, we looked at taking the trade hopefully towards that 5th wave and checked with VSA for a slow down in supply/demand.
May not get as many trades.
May get some more losses.
Definately may get larger profit levels on successful trades.
Might be worth a thought, but definately needs to be back tested first.
Hi,
Sorry to be a pain, just downloaded template etc and installed. My screen looks like this, whatās wrong with it?
OK Iāve found the post to fix my problem, only thing is Iām now looking for a trend to try it out on, oh well back to learning vsa I expect.