…wrong pair to pick… if only go short UER/USD… anyway 31pips with AUD/USD…not bad at all… two thumb ups for the fader…:35:
Oh right. That sounds very different to the margin used by spreadbetting firms then? In that, you could lose significantly more than what is in your account, but not so with Forex? I assume it would just mean that the more margin you use, the faster you could lose your capital (but never more than that). Do the stops always get triggered due to liquidity in Forex? Coming from stocks, there are no guarantees because of low liquidity quite frequently and the fact that they can move price through or over your stop area so quickly that it isn’t triggered.
Lots, Leverage, and Profit and Loss | How Do You Trade Forex? | Learn Forex Trading
You just need to read up on the basics and start trading demo. Let’s stay on topic.
That works…man everyone got this trade but me. Sleeping is becoming expensive lol.
I missed it too.
Got a new Siamese Kitten two days ago, and man when that thing wants to play, it’s hard to resist such a high level of cute.
1 hr T/F looked good. Entry on the 5 min T/F for a long following confirmation after the No Supply. So far so good
Just closed the trade for a few quick pips
Damn dude lol…you know there is additional risk due to the supply to the left. We are in ranging conditions though. Can’t argue with pips…milk that chart lol.
If anything, I’m expecting this little retrace to bounce of the 61.8 Fib and have another short opportunity here soon.
Hi Pete, I`m a little confused by what you just said. Are you referring to the supply to the left prior to the retrace?
I think I just answered my own question. Don`t worry about it. :24:
Thanks
Stephen
you’ve got it, you’ve got it… i missed it… quite busy with my beer… just beware of the news…
Took it after the second pinbar candle close (trying to stay disciplined). Took half profit, and waiting for the 50 fib to let the rest run.
Edit: Closed it all at +15.
I closed out my 280 pip AUD/USD short (since yesterday) this morning. You can’t do anything but love VSA right? 
since i mostly trade with 5min TF, that’s ok with me… happy for you!:59:
I guess that 1hr thing is working out for you. 
I think I have decided to bite the bullet and get into Forex next week (running it alongside what I do with stocks - using the same method. Why not get the benefit of both eh? 
Well, first I need to buy Parallels for Mac and get a copy of Windows (yuck! 
Then I need to choose a site to go with. I assume all sites that run MT4 then have the ability within MT4 to show tick volume as I please? Is it quite easy to set up or do I need to pay for some sort of volume feed?
I run Linux and refuse to trade Forex on anything else (security concerns, and it’s just plain easier).
You can get MT4 running on a Mac with this one-click installer:
Compatibility - MetaTrader 4 - CodeWeavers
This installs a generic version of MT4, you can manually install the IBFX version once you have Crossover installed. Simply install the trial for Crossover Mac to get started:
What is CrossTie? - CodeWeavers
Crossover is a commercial version of the open source software Wine (Wine Is Not an Emulator). Once the trial expires you have three choices:
[ol]
[li]Pay for Crossover and continue using MT4 on Mac. ($40)
[/li][li]Install Ubuntu Linux through Virtualbox and run MT4 from there. (Free and easy)
[/li][li]Figure out how to get Wine running on the Mac. (Free and Probably a challenge)
[/li][/ol]
I’ve set up Ubuntu through Virtualbox specifically for MT4 multiple times, both personally and for a friend. It works just as well as Windows through Parallels, is completely free, and much more secure. Send me a PM if you’re interested and I’ll walk you through it.
Everyone here is using IBFX for charting, even if trading with a different broker. If you read this thread (and the last one) you’ll see many conversations regarding this. I personally prefer Oanda for trading as their spreads are very low and you can trade in any denomination you wish. You don’t have to pay for a volume feed, simply install the demo for IBFX and activate the Volume indicator:
Download the FOREX Trading Platform - Interbank FX
It’s easy to setup.
In order to trade the strategies discussed in this thread, all you’ll need is MT4 (preferably from IBFX). It may not be as straightforward if you aren’t on Windows, but it’s definitely possible
Here we are, hope you guys find it useful!
Please feel free to correct me if there are any mistakes in it.
My intro:
This is meant to be the highlights of the most important aspects of VSA and used as a reference, and by no means a replacement, a shortcut or a quick way to learn VSA, to learn VSA properly you must read ‘Master the Markets’ by Tom Williams. I also highly recommend that you read Jesse L. Livermore - Reminiscences of a Stock Trader, and also Wyckoff Schematics, all available for free on the internet in PDF form.
Jesse L. Livermore was the original ticker tape reader, by reading the price and the price behaviour he could understand what was going on in the market and take full advantage of it, ok he got his fingers burnt once or twice, but that wasn’t really to do with his direct ability to trade. I guess there were no volume indicators those days, but then he could probably gleen the volume from the price action in the days of the tiny volumes traded in those days compared to what we see now. It won’t teach you anything really about actual trading, but it’s a fascinating read, and will give you the background to the VSA approach, it will show you how VSA works, that’s what Livermore used except the phrase VSA had not been coined in those days!
Just a note about Tick Volume as opposed to real volume, you may well come across traders that say that VSA is not possible with Forex since there is no centralised market, the price behaviour is directly related to Volume, the professional trades cannot hide their activity, and with VSA we can also learn how to read the market in a similar manner to how Jesse Livermore did all those years ago.
It really is something that at the beginning of the last century (20th) that a trader learnt to read from price action what the professional traders that were manipulating the market did in quiet smoke filled rooms! It’s very different today but market mechanics essentially have not changed.
VSA_Crib_Sheet.pdf (182 KB)
Very impressed, good job! The detailed and colorful charts really help visualize the concepts in the text.