It wasn’t two people, but rather the same. Admin has been banning the same user who keeps coming back under different usernames.
Guys this is the first time I participate in this wonderful forum of Babypips. I’d like to share you my experience with Tom William and VSA and whether their software does work or not.
I’d been introduced to Forex in Sept 2007 through one of my good friends who is one of the biggest fans of fundamentals. To make my story short enough, I wasted money and time on trading blindly jumping from a mentoring site to another till the moment came when a trader gave me a link to TradeGuider (Tom William/Gavin Holmes site).
I registered for their free webinars and listened carefully to Gavin who was explaining what VSA means and why we need to master this concept in order to be successful. From that moment I decided to purchase the software and give it a try and two weeks later I bought it. However, it didn’t help me to be a good a trader at the beginning and the reason was that I needed at that moment to get better grasp of VSA and train my mind and eyes how to read the CHART as Tom William and Gavin did in their webinars. After reading MasterTheMarket book more than five times and attending every free webinar within two years till last month I discovered that TG doesn’t work at all. Not just this fact but I also deciphered the main reason why I was so stupid to buy such BlackBox software and I mean it - it’s black box software. Gavin is so brilliant in the fact that he’s disseminating to all new traders in the financial markets that the markets are manipulated by big players and they do that in order to defraud them legally and grab money from their accounts. While the fact is, the market is mainly driven by supply and demand law which is simply depends on peoples’ perception of the economic data and whether it adds value to them.
So Gavin used this idea to sell his software. How many times I read questions from participants in webinars do you consider the red and green indicators that appear on the chart as buying/selling indicators or signals and his answer was no rejecting many times to admit that they are trading signals instead they are indications of potential change in supply and demand. Oh I have written too much lol but let me explain how I discovered unfortunately so late that VSA doesn’t work in FX markets.
VSA cannot be applied to FX markets because there are no centralized trading exchanges such as those available for stocks, futures and options like CME where all trading volume data appear in your screen transparently. FX volume is simply tick volume which means for every tick, volume indicator will increase accordingly. Compared to the real volume which contains tremendously valuable info about the size of actions at the bids and asks which allows you to precisely predict in which direction the instrument is heading, tick volume is simply a histogram of tick counts over time intervals nothing more. Till this moment, when I look at FX charts with tick volume I can’t expect what the price is going to do next because simply tick volume doesn’t give �at least for - me clear change in the market behavior as the real volume does. TG signals are triggered based on price actions that what I have observed during this period.
It’s too late now I have to go to the bed�… To be continued…
First I would like to say I am an active member of ff vsa thread by Shamus. He and others have provided untold informaiton and help to others . The vsa thread in ff that was mentioned where the guy is offering mentorship services is one run by NYSE1992. I got banned form his thread as I kept on correcting him .
I have been using vsa for about 2 years now so a good degree of success.
I do use tradeguider , but only just recently purchased it and the reason was mostly for the watch lists and to scan for vsa set ups in London , US , fx and futres market on all time frames , including a very succesful 1500 pip trade recently on the gu off a weekly futures charts,
Mostly I use esignal with the better volume indicator.
The thing that most do not think about when learning VSA is that is really is about the left hand side of the chart and higher time frames. For example when a trend is clearly up no demand bars are not really applicable and nor should they be shorted in a primary uptrend. I have seen so many traders new to vsa short these one bar set up in an uptrnad and then wonder why they do not work . However if the market goes up and ends in a rising market , than we have an up thrust several bars later and then a no demand bar then they are very shortable , particulary if this happens on a 30 min chart over a 6 hour period.
Salman do not give up hope on what you have invested in . It is more the way that you are using it that is going sideways. Always look for volumes sets up in the sweet spots of support and resistance. Look at GU 15 min today at start of US market , in london over night we saw supply coming in 1.5190 at R , then market dipped , then made another move up into 1.5150 with very high vol ( TG did nOT pick this up on 15 min … but being vsa knowledgable you could see it) . This was another sign of weakness after we saw supply hitting market several hours earlier. also it formed a lower high . Then at US open we had a 2 bar reversal set up on gu just above 1.1560 as gold was getting hammered . This was on high volume. So based on weakness in back ground it was a pretty safe sell … and did give a 100 pip trade. NOw if you had of entered 8 hours earlier on the 1st supply hitting market you would have had a much more painstaking trade.
also the best possible feed for fx is the feed you have for TG , the esignal 200 source GTIS feed. It is very representative of the fx market as a whole and more importantly it works.
I do post time to time on the ff thread , do not offer mentorship serives nor will ever ask . This was nYSE1992 … not anyone on Shamuses thread… just love posting and trading to help others.
malcomB,
I have been following shamus thread on VSA and can see you are a contributor.
I am new to VSA and very keen on learning it as I find it interesting. Do you still think purchasing the tradeguider software is still worth it?
I am not going to use it on a live account because for me its all about learning at this stage and i am hoping TG will help me with this? Interested to hear your thoughts.
I would have PM you but I only have 1 post previously so cannot.
Salmon - Hope your hanging in there. I do think data source is paramount when using VSA.
Volume in Forex will be only from the broker you are using. There is no way in measuring all the volume that is out there at any given time in Forex. Therefore any indicator that is made may take a “educated” guess at the volume that is out there.
Conclusion: you need a big broker company with lots of customers so you can get his volume. Unfortunately I don’t think any broker is out there big enough to be even close to something useful when it comes to volume in FOREX.
Happy Friday and keep on educated pip-guessing