Better to wait for London Open…due to lack of liquidity market may keep drifting aimlessly…
Again today is a bank holiday so gotta be careful while trading…
One of them was me…although it was automated trading, i didn’t close the trades over the weekend considering the markdown that we had witnessed during the entire week…and expecting a continuation of the same
That extra high volume on 1 HR witnessed at the climactic bearish bar on Friday confirmed by an inside close(although not so prominent) and price stalling there for a couple of more candles was a warning sign that i should’ve closed the trade…but a couple of weeks back i had closed my 4 shorts manually going into the weekend and there was a massive gap down due to which i missed out on a 300 pip move.
With that in mind i had kept the trades open this time too but well…thats life…
I came across your myfxbook account Tassie…the way you have given detailed explanations of each trade irrespective of profit or loss along with charts attached is fabulous…a lot of learnings from it not only for others but for you as well…
I also see there were 3-4 days at a stretch when you didn’t trade…must not have got perfect setups i believe…
Thanks Hell81007,
Yes, I think it is just as important, if not more important to put in comments on the bad trades. Otherwise, you don’t learn and will fall to the same mistakes. If it was a good setup that went wrong, so be it. But you need to analyse to see if you got it wrong.
Currently into a bit of drawdown, but will pull through that. I closed my trade on friday with 1% loss as I went to bed. Could have kept it open and dragged 1-2% profit, with my TP set, but I tend not to sleep with the trades open. Took the loss on a correct setup. Not commented on that yet but will tonight.
I often go days without a trade. I like to grab the higher probability setups, but not too many coming of late. To be honest, I don’t forsee it changing at the moment for some time either, but I will keep waiting for the setup and take it.
I am also looking at other methods to add to my list. My belief is that the market has different “moods” and different methods go well in different circumstances. I am thinking of a bit of AIMS scalping alongside at the moment.
MyFXbook is a very valuable tool, and I think it is a must to see how a person is developing 
I left my trade open on friday, I was Long way before the weakness started showing up. I just looked at open, My take profit was hit at + 38 Pips (YAYYY), but if I was around I would’ve made about +75 Pips, on this sweet move up. Now remember People Bank HOLIDAY TODAY. I’m just gonna stay away from trading until Tuesday.
Happy Holidays
It is my belief that VSA, which is so intrinsically rooted into the market itself which moves by the diktats of supply-demand imbalance, will never fail like many other systems or strategies do after having a good run for a certain period of time… unless there is a paradigm shift in the way market operates.
There may be periods which do not give perfect setups but the strategy will never fail because its not based on some bloody moving average crossover but the very principles that move the market.
We just have to wait through these dry patches…doesn’t matter if we make less but [I][/I][B]under no circumstances should we lose more by looking for setups that aint there in the first place[/B]…
I have 2 full days - tomorrow and day after to look forward to trading…my timezone allows me to trade throughout the London open from 7 to 16 GMT so that a good thing because most setups occur during London.
I am currently only practising Pete’s method on IBFX demo account and will switch over to live in a couple of months when i start getting consistent results…
Will post charts of the trades that i take
Wow man…dont cry over pips that were not conquered…you still ended positive unlike me:(
Pete does live trading three days a week that you can follow and ask questions. You can google Petefader for the details, but it will greatly speed up your understanding of VSA and get you profitable much sooner. Cheers,
Mike
hi, can any one here tell me is there any brokers in the world who provides PAMM service with minimum deposit of 1USD to 20USD…???
Their are many brokers who offer PAMM service. You can search from Google about them.
But in PAMM risks are more or less same as it all depends on the PAMM Manager how well he does.
Not intending to flame you, but I wonder what the relevance is with PAMM. You are asking for a service for another person to trade on your behalf. This thread is for those who want to learn the basics of VSA and trade it themselves??? You may be better off starting a new thread with that question. More people may be able to answer you.
Anyone still holding the short? Missed my take profit at 1.2510 to the pip. I hate it when the fear/greed come to play when we are having a position; probably we need a systematic system to deal with it, like close half when seeing wide spread bar with high volume, then move SL to BE. Haven’t been able to cope with it properly while not hammering the soul.
Anyone talk to Pete lately? 
Nah, never left any trades on overnight. Would have been good though. Nice setup for th elong a bit earlier as well if you disregarded the 1hr and looked at volume and price action only on the 5min. Good mini-climactic selloff just at your TP level.
Will hopefully be talking to Pete tonight (my time).
Has been very quiet, but in saying that, he hasn’t suffered many losses and is in profit still. It is just that the normal setups are few and far between at the moment.
Please fix the Eurozone and return us to normal trading !!!
LOL, ya, talked to a few experienced traders and they are suffering a bit. I’m not going long at this movement. Definitely there’s buying on the bottom (which push up the market) but there’s no interest on the upside either (look at the weak upmove and compare bull candle to bear candle)
True. Volume is stopping the down move, but only temporarily. There are bigger things afot and it is not normal as the levels keep pushing through supposed stopping volume. The nice 14 Jan stopping volume and reverse on the AU seems like such a distant memory now.
It will improve. We have just got to stay disciplined and only trade what the charts tell us. Not us telling the charts what we trade. Wont be many opportunities, but it wont break us. At some point, normality will resume
This is my first time really using VSA … please be gentle haha
quoted at UTC -4 on 1H chart
- starting with 5/25 0200 1H… looking backwards we see price stalling on the down move. we see a channel.
- the 0200 bar has pushed through recent levels of supply followed by another even higher volume up bar ( 0300 )… only to show SM’s hand on the next bar (0400) with a high pin bearish bear.
- the next up bar 0500 is a ND with low volume close off the top and is confirmed on the next down bar.
- entry short. TP at 30 pips / bottom of the channel. I took profit to early had another 30 pips go give :33:
- 0800 proves to be an interesting bar. large down bar on medium volume. being the end of the week, that was my only trade but i kept watching.
- the next bar 0900 closes up something like 50% of the massive downbar. SM is buying?
- sure enough sunday at 1700 price is up those 60~ pips. as we climb though, each large bar is me with a bearish bar following it.
- we reach 50%/61.8% Fib zone of the initial move with a pin candle.
- next candle is huge volume and bearish along with the next candle (5/28 0400).
- pulled away from that extreme zone 0500 and 0600 show and confirm a ND candle in a newly established markdown.
- sell entry after close below the ND’s low. the move down is met with some stopping volume and the price hovers at the bottom of the channel with virtually no volume (it is a US bank holiday). exit trade +33pips
- price than rises and is met, at the 50-618 fib zone with stopping volume.
- the 0300 is large and bullish with very high volume. the very next candle is very bearish almost equally high volume. SM is selling?
As we sit now at the bottom of a channel… which looks to be a larger TF distribution phase?
Thoughts suggestions
+24pips off initial move. had to leave my computer so i closed my trades early. still + > -
following the 1H effort on the 30M chart we see some stopping volume but with a new low. (large push through demand followed by a bearish candle). we see massive volume on the larger candle with lower and lower demand as price rises. cant seem to break through supply to even test the 50-618 fib area…
seems like we still have lots of selling pressure? a few bars later we are seeing a ND waiting for a confirmation now if i get a confirmation entry will be with a close below the low of the ND candle.
Heres what we look like as of now. waiting for second trade. :51:
well it took all day but we did have a test of th 50-618 zone and a rejection pull away and on the lower time frame (both 15m & 5m) no demand. nice little 90 pip move from start to present. along the way we find signs of weakness along normal retracements which provide for re-entry / adding to orders.
perhaps i’ve been wrong these past two weeks. hey everyone says distribution and accumulation look alike; with all the negative news about the euro and an upcoming week full of economic data, i can’t help but wonder if it was all accumulation all a long. perhaps after the dust settles and we are all scared out of our euro positions, then finally, the euro will gain and greece leaving the zone will be the best thing that could have happened to the zone. hmmm; game theory, gotta love it!
If you’ve been wondering where I’ve been the past couple weeks…
Here is a skype message I sent to friends back on May 17th. I’ve halted all trading on my main account for now (since that is for strict, proper VSA setups) and have some shorts scaled in on a side account.
I probably won’t take a long signal until the 1hr chart is showing higher highs and higher lows, with vol to back it up of course.
We need QE, bailouts, something. It’s a crappy system but it’s all we have. Bernanke and the crew must come save the world lol. Live with it. Bernanke has been hiding out…seriously where is he? Before this mess we couldn’t get him to shut up. I think they want us to beg.