monad

Have been going through your posts with great interest as like Dbphoenix, you are walking your talk. Ref: to your mention of MTP predictor, Richbois of TTT (Taylor Trading) also uses that to enhance his trading , so there is obviously merit there. BTW, have you ever employed Taylor method. Also which Brooks post you are referring to, is this pertaining to Al Brooks who seems to have amassed a large following, all looking to him to open up a trading room/mentoring etc after putting up a few posts here.

yes great definition of an edge -clarity from Db as usual. What is mind boggling is that somebody trumpetting to have that kind of experience is in a beginners forum seeking true edge or a system for trading without having the slightest idea of what an edge is and then having the gall to assume that nobody on these sites is making money. On what basis does he announce that? Surely experience in trading should have taught him by now that "Assumption is the mother of all .............." and also that developing an edge or a consistently profitable strategy requires considerable personal effort and discipline over a prolonged period. Shamal, would not hold my breath if I were you. Guy is probably in the company of millionaires or billionaires perhaps head hunted by Soros or Buffet after one of them read his life history in here;)

Personally find taking account of premarket action and S/R levels provide better trade location. Attached: 1. premarket uptrend line break, with 2 legged downmove, good long at A 2. Test of previous swing high around 937 expected, failure to breakout, resulting in pullback, good short at B.

From where we are Glastonbury is strictly south west, where as you say "fairy twinklers" "The New Age Crowd" hang out. Don't think they are much bothered about the markets. That would be too mundane for them:))) Spacewise we cannot match anything in US, whenever I get back from a trip to US, everything looks so cramped here but we like to imagine that our closets are like big US cupboards with lot more skeletons;) Good Trading

Accepted, let us put all this behind us, Next time instruct Manby to come in and face the music himself. Don't be naive enough to just blindly believe what he or anybody at TG says, you are dealing with savvy southern England crowd here, so take heed:)))) All of these guys have skeletons in their cupboards, There is no smoke without fire;)

Agree with both you and rigel, IMO volume analysis allows you get behind the patterns so to speak, the fundamental forces ie. buying and selling which go to create those patterns. and once you learn to see that, you don't need to get too involved with the various terms. Al has presented some great insights for day trading and volume analysis would even enhance that understanding. In that respect I also found Dbphoenix's ebook very informative indeed as well as all the material on the Wyckoff forum. As Head2k on another thread has emphasized, there are just a few basic concepts to digest on price/vol.))

For a start instruct Eiger the moderator and Guru to withdraw the statement branding me as Albert Lobos, who is a total charlaton and conman, fleeced a few friends of mine of their hard earned cash, and that next display patience and maturity to verify what he is informed by his Guru and Chart Reading Machine, S. Manby. Inform him anyone who is trying to guide folks to the original source of VSA is not Albert Lobos and also stand back and objectively observe what the Chart Reading Machine is doing : nothing but pulling in suckers into the vortex of VSA clubs and ongoing seminars, bootcamps, advanced weekend courses with secret setups, :crap:

Quite amazing, mere mention of Wyckoff used to wind people up in here, they only wanted to talk about pure VSA methodology, Thank goodness, now it is acknowledged that VSA is all derived from Wyckoff only and now they harp on about Wyckoff. If anybody else besides a VSA user utters the word Wyckoff here, , than ofcourse it is taboo, an attack on VSA and told to migrate to VSA crock or not thread. plain ridiculous:)))

I am told the account is directly with Infinity and there was no question of any monthly fee then, and a five figure sum is in the balance as per recent statement which does not show any deductions of fees whatsoever.

If you wish to trade a liquid market, then volume matters, not necessarily in your trading (as you could choose to trade via other technical analysis) but in the market place. As to the periods in which prices keep rising on low vol, especially on slow grind up days, simple, sellers are not willing to sell, and demand keeps creeping up and vice versa. If sellers appeared in force, volume activity would increase, however price could still keep rising when buying pressure is greater than selling pressure and vice versa.

Tom, Have a friend who has an account with infinity/Transact, but has not used the live platform for quite a while as he has other spreadbetting accounts, is he in any danger of loosing the balance in his account i.e does the company after some point in time close the account and the client kisses goodbye to his account balance.

There is a danger in taking these setups in isolation. Al points out clearly that a TL break does not equate to reversal, Refer to the Best Trades chapter. Also avoid anything that looks like barbwire, which is where the short was, there is section on how to trade barb wire page 320, especially after a false breakout, you have to take the trade in the other direction, At the initial stage, it is best to avoid these, Al emphasizes on the need for patience for clear setups ie. when in doubt, stay out. After a strong trend, if there is a TL break, expect the market to test the previous high in 2 legged move. Lastly this was also the time period ie. after lunch EST when reversal occur, it is there somewhere in Al's book. Plus in that pattern there are clear candlestics of climactic nature ie. doji bars closing on the high with long tails , Al has pointed these out as indication of buying. Think the book is not an easy read, there are so many elements which have to come together, however it would be best to focus on the Best Trades at the initial stage, until such time as when all the chapters have been studied over and over again. IMO

Think we mix up issues and then get into controversy. 1. Demand and supply are intrinsic to the working of the market. Without buyers and sellers interacting , their activity being reflected in transactions ie. volume, there would be no market. Hence volume is activity or effort if you like to put it that way and the resulting move or lack of it, is the result of that activity. Wyckoff studied this aspect and understood it well enough to read the market to be able to anticipate and trade. 2. Now one can choose to study these price/vol dynamics and incorporate them into their trading strategies/tactics. For that trader Volume is important. We are not talking about DOM, time/sales, bid/ask etc here. 3. Others and there are many successful traders doing just that, trade without looking at the volume bars on their charts and employ other technical analysis to guide and provide them with aa framework and structure to trade ie. RSI, CCI divergence, fib numbers, gann, elliot , candlestick patterns, moving averages etc. Infact if you look at Al Brooks latest book, he trades entirely from just one single 5min chart with one moving average and trendlines/channels. I have communicated with him, he has gone through every indicator out there, including volume studies and probably understands the patterns that he outlines in his book well against that background, so he does not need to have the volume bars on the chart. However he does mention volume climax etc and many of the charts in the book do have vol. bars. So it appears that that if you study price/vol long enough and observe the patterns forming just like looking at RSI divergence and price action long enough, you eventually reach a point where you may not require these on the charts. Anyway the point of all this is Volume is the engine which drives the market. However whether it is important to trading is a personal choice. Hence as you say there is nothing right or wrong. So really there should be no clashes between those who use it and those who do not,))

Trading via lower time frame charts is recommended especially in fast markets as today in the first 90min or so. Page 156. The Breakout Pullbacks and Trendline break setups are much clearer as shown on the 2min chart. After the shallow (first) TL, there is a weak effort to create a lower high then a 2 leg move down, and after that we have 2 leg up.

Actually meant prices have risen for a while i.e trend has been underway with a couple of higher lows and higher highs. But you are right if the price has just bounced off the support, than the scenario you just outlined would be relevant. Anyway all this would benefit if the person makes some effort to put up charts and make an effort to go through some of the excellent threads on your forum especially the volume thread and trading the wyckoff way just to highlight two, IMO