shreem

Hello Dear DbPhoenix, thanks for your great explantion about you came to trade what you trade and how you trade it. I am sure that if everybody take the time to read what you wrote, they would find great gems for developping the right mindset in order to approach their trading according to their own temperament and impulses and because others are doing it. Your post help me a lot and and your writing suggest to me that you are a very sincere and honnest folk who has a true desire to help other. So, great hat to for that post and I am humble to being able to read it. Great trading day and week to you Sincerely Shreem

Hello Tradebetter. In answer to your question, yes you can definitely profit from trading spot forex with VSA. It all depend if you will make the time and commitment to learn and apply it properly. I am trading VSA since 2007 in forex and i am profitable using it and now i am in the process of increase my position size to be able to trade full-time soon. As for MT4, dont loose time with using it for forex, it will do you no good. The only reliable volume that can be used in forex is the GTIS forex feed of Esignal which include more than 300 contributors which represent a good aggregate of big players in the spot forex market. I am using Esignal GTIS forex data feed (composite feed) (cost 100$ a month) with Ninja Trader which is a very friendly user charting platform and it is free. Read all the sticky threads on VSA here and there is also a great thread on VSA on forexfactory called "Trading using VSA". On that thread, look for the posts of Malcomb14, Dr. Geppynius and of HiddenGap. Here, also, i suggest to read all posts about VSA of Eiger, Annonymous, CandleWhisperer and VolumeJedi. I do not agree about better using EOD charts for VSA in forex. Intraday charts are just fine if you know what you are doing. I trade mainly based on the 5 min chart and also look at the 15m, 1h and 4h charts too. As in all endeaviors, being successful or not trading VSA, as in any other methodoly, depend 30% on the technic you use and 70% on yourself, the trader. How do you manage risk, how do you control your emotions, do you have a clear and well defined trading plan, are you confortable with the instrument you trade, do you know that instrument very well, are you disciplined enough to follow your trading plan. Answer to all those questions are way more important than just learning VSA itself. Using VSA profitably will only come when you answer yes confidently to all those questions and you have a good knowledge and application of VSA principles. Then, the VSA setups will be the "cherry on the cake" if you like. So, study, study and please do 1000 of hours of screen time for seeing how those VSA setup unfold in real-time on your favorite forex instrument. That will help you tremendously to recognize high probability trading VSA setups. Hope it help! Sincerely Shreem:)

Hello Soultrader. The new style of the website is absolutely great. I really like it. So much faster to load and really the new style and color used. Big Kudo to you for having implemeted this. This trading forum is really the best Shreem:)

I found this post on "Re: This Guys Good!!" interesting and have nominated it accordingly for "Topic Of The Month August, 2009"

I found this post on "Re: Trading with Market Profile" interesting and have nominated it accordingly for "Topic Of The Month August, 2009"

Hello guys. As I am also a big fan of Jperl threads on market statistic, here is a pic of EUR A0-FX spot forex with investor R/T as charting software and esignal as the data feed. The volume profile plotted can be customized as one want. It can either be dynamic as Jperl is using it or it can be static as to encompass how many profile days one want to incorporate. Also, a neat default feature of the VWAP in Investor R/T is that instead of plotting it as lines overlayed on the chart with all its standard deviation, you can have it plotted at bottom of chart and you will easily see what each bar traded was at which band of the VWAP. Shreem:)

Hello Urma. Thanks for the post. My apology if i red wrong about banning issue. I then retract my words and sorry for that. As for the rest, that is ok. After all, this is your own thread and how you see things, so i will refrain myself, from now on, to write in this thread as my intention is not to start a war with anybody but to try to understand more deeper what your intent here. So, anyway, luck in all your endeavours and best of wishs and sorry again for that misconception about banning issue. Shreem:)

@ shreem I find it important too to look on charts with different time intervals. But you have to be careful, if you compare volume from the main session with activity outside this time range. I look more for support/resistance and trend strenght in the higher interval charts and go down to lower intervals to check the activity. A 1h bar for ES or NQ that start at 9:00 and end 10:00 contain 30 min of premarket- and 30 min of the regular session volume. Thats why I prefer a 30 min chart. May be a little different for forex futures. Hello Habi and thanks for the comment. Yep, you are right, if you trade instrument like ES or NQ who have their main activity between the market hours, it is less true for spot forex which is the market i do trade. In spot forex, there is not really anything such as the overnight activity as it is a 24 hours market where one time zone replace the others and so on. It is more like a continuous market. There is not really a single point in time that we can label the open or the close of the trading day as in future market like for the ES, NQ or YM. We see them more like sessions overlapping the others like asian session merging in the european session which will merge in the us session which will then merge in the new asian session. So, for spot forex and even for future currency market, volume activity in one session can definitely serve as a gauge in the next or two sessions coming as there is no definite open and close of the market itself like in the future market for instruments like ES, NQ or others. Also, i do even look closely at the "tranquil" asian market session where volume activity usually become a lot more quiet. If i see some surge in volume or lack of it, espcially if it is in the range or area of the previous high volume area, i will definitely pay close attention what is happening there. That said, you are spot on that higher timeframe are great areas to look for support and resistence areas and that is why if, as in my previous exemple, there was a buying climax on the 4h, that area or range of that buying climax (specially the high) will be a resistence that i will pay close attention in the lower timeframe. Again, thanks for your comment Shreem:)

Hello 4rings2snails. Thanks for the post. Yep, mutli timeframes analysis is really important. When i am ready to start looking for a trade setup, i always do a top down analysis beginning with the 4 hours charts to look for the current dominent trend of the pair i am looking at and also to look if there is major signs of either an accumulation, a mark-up, a distribution or a mark-down phase going on in that particular market. For doing this, Wyckoff waves analysis is really great. Also, I look in the 4h chart if there is major signs of strenght like a stopping volume or a selling climax bar or shakeout or major signs of weakness like buying climax or an upthrust. If i spot one of those, i will pay particular attention when price will revisit those zones where those high volume bars occurs as it will show clearly what was the intention of those BB going against the herd in that bar. As an exemple, if we get a no demand bar after a buying climax or following an upthrust, that will give us good clue for a short position possible. Same thing, if seeing a successful test or a no supply bar following a stopping volume or a selling climax. Then, i will go to the 1h hour chart and will go look what i see there. Is there anything in the 1h chart that gives me some clue what is happening, at a slower rate, in the 4h chart? Like, as the exemple of a buying climax, if there was a buying climax on the 4h that has just formed, what does the 1h chart is telling me about the immediate result of that buying climax? Is there an immediate response to it? That would be seen as a rapid mark-down of price with either low, medium or high range bars. The clue, will be found in the relationship of the volume bar with the spread of the bar in question. If the technical response that immediatelly follow the buying climax is making lower lows with either low. middle or wider range bar but volume is not really supporting this technical reaction caracterized by this down move, we have signs that this reaction is only a natural effect of the implication of this high volume bar that represent a buying climax but that the real clue will come from the volume. If we see low volume on those down bars, this would imply and tell us that the true turn in the market is not there yet. Then, if that is the case, will look even more carefully when the price will go retest the buying climax bar area and particulary its high and see what price does there. If when price go there and we see volume drying up as price is making higher high, then it will give us a great clue that supply has really swamp demand on the buying climax and that a reversal of the current trend can be in the making. I will then wait to see either an upthrust, a bull trap move and no demand bar as confirmation signals before even considering of going short. As I am an intraday trader, when the hourly price will be in the zone of the of the previous 4h or 1h buying climax, i will then switch to the 15m or 5m chart to look for entry. The best kind of entry would be an upthrust followed a little later by a no demand bar. Could then go short on close of the no demand bar. To keep my short position, market will need to prove to me that the following down move as some "steam" or power by looking to see if normal increasing volume is appearing as price is moving down. So, to make a story short, for me, muti time frame analysis is key to successful trading using VSA. Larger timeframes gives us the background and the main reason why we should either go long or short depending on what the laws of supply and demand are telling us. So: 4h chart: medium to long term intraday trend direction and the main graph for seeing the background. 1h chart: short term intraday trend direction and more immediate background action. 15min or 5min chart: main charts to look for signs of strenght or weakness to look for VSA setups so to get an entry. I should also emphazise that more power if those setups occurs in the zone of the high volume bar which was the buying climax in that exemple. Why? As this high volume bar represent a strong indication of the presence of the participation of the BB, it is the best area to look if there is a followthrough in that same area or not. When price return there, we can see if we get the same kind of "intensity" by looking at the volume when price probe the high or the entire spread of that buying climax. So, in a nutshell, this is just an exemple of how i do tend to analyse the market using my learning of wyckoff waves analysis and his others teachings and the VSA setups going along with it. Main point of all this, patience, discipline and really following one's trading plan is the really the key in successfully trading. The only other thing that i also look at is market profile charts or volume profile charts as they are a great way to see key support and resistence levels to look for. Meaning, if there is a VSA setup possible entry occuring in the zone of a previous high volume area and that same area also contain either a POC, VAH or VAL lines or zone, more power to the setup. Sorry for the long rant and hope it is helpful Sincerely Shreem:)

Hello Tams and thanks for your reply. I especially agree with you on that last sentence. We can effectively learn anything from any posts even if what we learn have nothing to do with what the posters want us to understand. I did made the point that i am grateful that he start this thread as it has remind me how much i do like market profile theory as an intellectual framework to start deciphering the most crucial theory of trading which is the auction market theory. Also, as a matter of fact if it is of any interest to you is that i am not a market profile purists as MP is just the start in my thinking about auction market theory. Market profile theory and its graphic representation is really helpful in beginning my journey into auction market theory. Then, Wyckoff teachings is even more important as it goes a lot deeper into the law of supply and demand. Finally, VSA setups are the tools that i use when developping a trading plan. So, by using all those 3 things, i have come to develop my own trading plan and really cant see how market profile can be outdated as its basic laws are still applicable today as it was when it was first developped. Anyway, a great week-end to you:) Shreem:)

Hello Dael. NR4 stand for a Narrow Range bar that is less than the 4 previous bar. Meaning that the high to low of the bar or candle is less the high and low of all 4 previous bar or candles. Also, the test (the NR4) after the NS was a great indication for going long on close of the test bar as both the NS and the NR4 where confirmation that supply had dried out (look at their volume) and that the market was ready to auction upward. All the greater as those 2 signs of strenght appearred after a stopping volume (candle labeled 3) and and effort to fall later on, the red candle just prior to the candle labelled KRB, with the next candle up. A great thing about VSA, is that those patterns repeat themselves again and again and again in all timeframes and really show who is winning the current battle between supply and demand. Even better, for entry, if the NS and following test occured at a previous POC, VAH or VAL of either a market profile or a volume profile. Hope it help Shreem:)

Hello all. Very interesting thread and exchanges of ideas here. 1st post has still attracted alot of great posts on this thread about the relevance of the application of market profile as framework to see the auction market theory in a lively and well organized manner. I do agree with volumeJedi, Frank and some others that MP is not an indicator per se or a trading methodology by itself but rather a conceptual framework of the current state of the law of supply and demand laws in motion and where is the current auction in relation to fair or non-fair value. So great posts guys and much appreciated Shreem:)

Hello Sevensa and thanks for the comment. Yep, you are right, they are not text book No Demand as they do no close up. However, i am not a purist VSA and do look at the open. If we take the open into consideration, they do have represent doji like candles which show pause of the market and indecision. If the current downtrend is established and there is no volume supporting any up move, the natural tendency for price will be to continue south. These No Demands that i have labelled as no demand were just extra signals that added to the weakness of the current market. Also, this was not an hindsight analysis as i did take a short trade at close of bar B. But you are right, they are are not classical No Demand Bars. Shreem:)

Hello guys, here is a chart of GBPJPY 15m in Asian session. First, asian session is usually slower than others sessions but can still gives some good setups if one wait patiently for some nice VSA setups to presents themselves. We can see on that chart that we had a congestion channel going slightly upward but the powerhouse was not following as volume was decreasing all the way as price tried to climb up during this congestion channel. This is the first indication of weakness coupled with the fact that current intraday trend is down. A and B) We see 2 No Demand bars doji like with narrow spread closing in middle of the candle with volume less than previous 2 volume bars. This further indicate weakness as price tried to go higher. C) Then, look at the down bar on increasing volume piercing the support line of the congestion channel. There was a good increase in volume without being ultra high volume which could have signaled potential strenght. This show a successful breakout and indicate further weakness. D) Then, 2 bars laters, we get another No demand bar. VSA along with some Wyckoff principles and patience and discipline can really pay off. Of course, this is just my 2cent Good trading to all Shreem

Hello Chad. Thanks a lot for the email. Much appreciated. Does i need to have the professional version to modify the volume indicator to do that or does having the standard edition is fine too? thanks a lot in advance Shreem:) Edit: Also, is it possible that, at the same time, the volume indicator shows 3 colors, 1 for when current volume higher than previous one, 1 for when current volume bar is less then the previous volume and 1 when current volume bar is less than the 2 previous volume bars?

Hello Chad. First thanks a lot for your very informative posts on the different ways of using Investor R/T charts and how to use them efficiently. Your videos are really much helpful and it is great that you are on board of TL. I am planning to subscribe to Investor R/T with esignal as a data feed (i do have the esignal full charting premier package at the moment) as i really like the fact that market profile charts are there along all the indicators based on volume. As i am a forex spot trader and that tick volume (with the esignal feed) can be used instead of true volume, i have a question for you before i make my decision to switch from the esignal charts to investor R/T charts (will keep esignal as data feed). Is it possible for the volume indicator to show a different color when the current volume bar is less then the 2 previous volume bar. This will help me a lot visually, to see no demand, no supply and test bars according to VSA methodology which i trade? Also, regarding the volume profile, it is possible to include the last 20 days trades in the volume profile and shows the peak volume price and VAH and VAL of those 20 days? Thanks a lot in advance and really much appreciate your dedication on this forum. In fact, one of the reason i want to move to investor R/T as a charting platform is the fact that you are active here in helping traders about their inquiries and giving us ideas what Investor R/T can do. Sincerely Shreem:)

Hello Flimbo. The VolumeJedi chart is of the EUR/USD spot forex and it is a 5min chart. If you see his others posts on this thread, it is the pair that he is following and often the timeframe that he shows exemples of. VolumeJedi, thanks again for another great post. Much appreciated Shreem:)

Hello VolumeJedi. Thanks so much for your great contribution on these VSA threads. It is muhc appreciated. I really enjoy very much your analysis and the way you see VSA in action in a chart. Your way of looking at the market is really enlightening and help me so much how to read VSA setups correctly. Also, i do agree, that signal and clue from a previous high volume WRB is one of the best setup one can look for as the high volume WRB do represent big activity of the BB and a retest of that previous zone, will show the prints of the BB and how much are they interested at those same price, either up or down. Again, thanks so much for your effort and it is appreciated by a lot of people Sincerely Shreem:)

Hello Cmach123. Happy that you like the VSA approch to the markets. About charts in VSA 1 thread, they are still there up and running. So do not really understand what you means. I am reviewing the thread now and the charts are they ( i am on page 12 though so maybe that change later on.) Also, if you look in all the threads on VSA, particularely the sticky ones, you should see lots of interesting posts and charts there. As VSA in now my main focus for my trading methodology coupled with market profile and S/R levels, this forum on VSA is really great and we are very much priviledge to have great VSA traders like VolumeJedi, Eiger, PivotProfiler and CandleWhisperer before (if they are the same person should not concern anybody but and is not important at all). The quality of their posts and charts is what make me so happy studing this application of VSA Sincerely Shreem:)

Hello MC. Nope, unfortunatelly they doesnt seems to support your broker with their platform. Maybe later on. Hope you find what works best for you Sincerely Shreem:)

Hello MC, if you can find 250$, you get a lifetime market profile 3rd party add-on that works very well on ninja trader charts. And with this MP chart, you can split sessions or merge them as you want. Will include a pic of the mp profile for future GBP but cant for the ES as i dont trade this one and dont have the data for it. Hope it help BTW R/T is a great platform but way too expensive for me. Shreem:)

Hello Brownsfan019. Thanks for your reply. Yep, they seems a good broker for future trading. Unfortunately, they dont accept canadians as customers and they directed me to ACTbroker for canadians that also use the charts from OEC So, will see thanks again Shreem:)

Hello Brownsfan019. Thanks a lot for your answer. Think will get their charts per month fees as it is verty reasonable. I think you are using them as a live broker, how do you like them? Thanks again Brownsfan019 for your help on those questions. Much appreciated Shreem:)

Hello Brownsfan019. thanks a lot for your answer. Really much appreciated. Your answer makes a lot of sence and will definitely do that. I have another question for you. I heard that OEC has charts that you can pay monthtly fees to have access to even if you dont have an account with them. Is that true and if yes, do you know how much it costs per month? Thanks again. Shreem:)

Hello to all. As I am new to undertstanding future market and how it works, i have a question for you future traders. If I want to trade EURO FX or EC which contracts should I use to base my volume on? Is it the ECM09 which expired like next week or the ECU09 which expire in september? Another question linked to the first one, if we were in let say, middle of may, which contract should be used, the ECM09 or the ECU09 one? This is very important for me as I trade spot fx but use volume data from CME, I want to be sure of which contracts to use when calculating volume peaks period. Thanks so much in advance Sincerely Shreem:)