crabbydog

Don't understand this bit, what's the OP? is ET Elite trader?

Chad, in your post about your zigzag indicator who did you mean as 'we'. Is this an indicator you are selling or is available somewhere in the forums or what? thanks

Bulkowski has been successfully trading patterns for years. I came across his article after another trader I respect made a similar comment as something he had observed in trading. Its not that they don't work, but their reliability is tailing off. the other trader also mentioned that he had found increasing cases of patterns apparently failing but of you monitored them they would resume later than expected. Chart patterns are essentially representations of people's beliefs about the market, these beliefs can be manipulated by the smart money operators.

I remember years ago that some people said that Undeclared secrets was just shilling for the software I think now however its very hard to get hold of Undeclared secrets, I lost my copy somewhere and its not in print now..

I think hidden upthrust may be eiger's own jargon, or perhaps its from earlier wyckoff. I think i saw it defined here once and a search through the forums may help. Its not worth getting too hung up on such jargon nor to spend too much analysing every price bar. You are trying to gauge overall buying and selling pressure and look for setups in relation to that.

I agree the quality here is generally higher, although there are some useful posts in FF too. Some others than Malcolmb are quite good. Discussions get a little too indicator heavy, rather than pure VSA. The best posts have found anywhere are here from eiger, I think if you read his posts, especially his detailed analyses coupled with MTM you will do well. I can read the most obvious bars, but still struggle with background. Still, since focusing on this I have made some money instead of losing it. Good Trading

Forexfactory also has a large VSA thread. MTM is the same as Untold Secrets, it's just a later version, and I think its more biased towards Tradeguider and somewhat restructured. Yahoo has a group called wyckoff-smi which you MAY find useful, but there is a lot of noise and not sure how much real value. Some useful gems there I guess.

Could you define what you mean by a 'down bar' and 'up bar'? I looked at 2 and it closed on its lows, which seems to me makes it a down bar. But I am guessing the terms down bar/up bar doesn't actually mean that? Also, on point 4 you mention 'opening below previous close' but for my limited understanding of VSA the open is ignored (a VSA chart doesn't show the open, just HLC). Thanks if you can clear up my confusion on this

Curious as to why you define Bar 4 as 'presence of supply'? It broke out of the congestion before it on higher volume and the close was in the support third of the bar. Did you see it as supply based on later bars ? Or if you saw that bar as it happened woul youn have thought the it showed presence of supply. I can see why 7 would be supply. But again I cannot see why 10 would be supply coming in, as it agian busted above the congestion to the left, albeit on no particular volume. regards :crap:

Can see the thumbnails, but the enlarged pictire shows blank, anything that can be done about that? I have looked at plenty of other thumbnails that worked and am using firefox

boob = female breast in this context. Can be a man's breast usually on a fat man - hence term 'man boob'. I know there are many female traders about, I wonder if they would use descriptions based on parts of the male anatom, I can imagine what they would use to represent an 'upthrust' :rofl:

This is his web site although I couldn't see a free course there http://www.hankpruden.com/index.html

Depending on the kind of trading you do 14 losers in a row may well be quite possible in a profitable system. If you have say 30% winners and you make 4 points in each winer and 1 on each loser you will have a nicely profitable system (many trend following systems work much like this) but the losing runs could easily reach 14 or more and a drawdown of 50% or more is also quite possible. If you have analysed your trading approach thoroughly in advance you would know this and be prepared for it mentally an duse money management to keep profitable and keep drawdowns acceptable to you.