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jjthetrader

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Everything posted by jjthetrader

  1. jjthetrader
    Ok, for 3 min they took a break from pushing. With the trap upmove two bars previous this still means little. With weakness in the background this is just a downbar with low volume. I'd still short it! ;-)
  2. jjthetrader
    Hi Winnie, let me see if I can help. Eiger can jump on board if need be. First, in an uptrend you do not need a down close. It may just happen that your timeframe has a close by 1 tick higher but a lower timeframe shows that down close. Tom Williams talk about this and how you need to be flexable. There are so many different kinds of tests and this one would be called a hidden test. Ok, in the last few posts you were asking about entries etc. I've got a prime example that just happened on the ES. 1. We come up to R1 and find supply. That's no big surprise. So at this point we don't know if it's temporary or a reversal. We pull back a couple bars and stll don't have a clear picture yet. 2. No demand shows up. Perfect, we are now are beginning to see what's happening. Now we can do two things here. a) place a sell order below it's low or b) wait for confirmation. 3. A trap upmove. This is confirmation. If you didn't have your sell order in, no worries, you'll always get a second chance on a retracement. 4. Another no demand and a perfect retracement level, the bottom of the first no demand. 5. This is NOT no supply. We just had supply confirmed in this market. Ignore. This just happens to show up because of my timeframe. 6. Yet another chance to get short and we didn't even need to pick the top! Even since I snapped that screenshot the market dropped another 7 points between the snap and my writing this and that's on the 3rd no demand! If it's true strength or weakness in the background then you'll have lots of chances to get in which gives you lots of opportunity to confirm the supply/demand dynamic. cheers.
  3. jjthetrader
    Ok, thanks Chad.
  4. jjthetrader
    Chad, In the attached pic can you see how the two different software packages get different VB levels on the same timeframe chart and the same data supplier (they're running esignal through TS). I'm thinking about getting IRT but I'm not sure which is right. The TS indicator uses your same approach in it's calculation as your VB. Any ideas? thanks.
  5. jjthetrader
    Good to know.
  6. jjthetrader
    Blowfish, I think you may be misinformed. For one I can guarantee that Tawe is not the WW. Second, the Welsh Wizard doesn't sell anything. He doesn't use indicator or algebraic equations. So who could be be scamming? You may just have the guy Tawe is talking about mixed up with someone else.
  7. jjthetrader
    Great, thanks. Does that mean it will be added to Market Delta to or does MD already store that info?
  8. jjthetrader
    Very cool! Is this available now? thx
  9. jjthetrader
    Hello, does IRT have the capacity to plot the volume point of control for each 3 minute bar similar to what a 3min footprint chart would show but in this case it paints a dot on the candle?
  10. jjthetrader
    Hey man, I totally get where you're coming from. You're right that VSA is a methodology and that rules for trading it need to be layed out. My trade example on the last page is an example. If I get that shake-out or spring then I'm looking for my test to enter in on. I'll put my order at the high of the test bar so the next bar picks me up as it moves up. This is just one way I've adapted an entry using VSA. They like the close of the confirmation bar. This is too late for my personal risk tolerance. In this market, with the stops that are needed you can't just jump in anywhere just because you saw a VSA signal. Unfortunatly VSA can't be broken down from it's subjectivity. It can't be put into a system because it's dynamic and you have to be flexible even if the close of your bar is off a bit. A system with hard rules can't be flexible. My advice is to find one VSA setup. Learn it, know when it's valid and when it's not, find out how to enter on such a setup and once it's made you rich you can add a second setup. Master just one. That's all you need to make money. They happen all day everday on different timeframes.
  11. jjthetrader
    Kuky, volume less than the previous two makes it low volume from a relative standpoint and that's what we're looking at so it was a test. Either way, futures can have high volume on a test because it's the large players hopping in. It's the cash market where you don't want to see it. Tawe, excellent example. When I first learned VSA that same pattern always tripped me up. It looks like weakness has come in but it's not. It's effort. Great job.
  12. jjthetrader
    Wow, very nice. I wouldn't argue with any of that. You were confused about C because you didn't know the background. If you look at it, it's a high volume downbar closing on it's highs. That's strength. And "R" yes that's sellers entering and would be an upthrust. "N" is a test but we'd go even further to call it a hidden test since it closed up. But drop down to a 7 min and that's a "true" test. The only one I wouldn't agree with is "F". It appears to be no selling pressure and in fact there may be no real pressure there but after weakness appears this type of bar I'd label as "unable to find a bid". Good work Kuky.
  13. jjthetrader
    This comes back to Winnie's question a few posts ago. Where do we enter after strength comes in? There is a nice progression of a bottom being formed that we like to see in VSA. This is a 3 min so you may want to add the bars together to see a larger timeframe. Strength first enters and we get an automatic reaction. We see a couple of those no demands that Winnie described. We know not to be looking short here. They retest the lows and push a bit to fool people into shorting the low. Again we're long biased already. So we get a nice little rally off that false move. There was no real testing going on at this point so I'd rather wait and buy higher if I had to. Then we get Eigers favorite, a spring (or shake-out). On the way up out of the spring we get a test of the initial high volume bars low. I had an order sitting above the high of that first low volume downbar marked and then moved it down to just above the high of the second low volume downbar (no supply). It picked up my second order and away we went. I had a 10 tick stop to put me just under the low of the test. Hope that helps.
  14. jjthetrader
    Your facts are funny. When did you ever see Todd Krueger or Tom Williams trade live? What a joke. Plus who says they're the experts on it? Next, it's not that we dislike you questioning the basis of VSA, it's that this forum is to learn about VSA and the one you should post your doubts about in is "VSA Crock or Not". You just seem to be derailing the thread. Post over there with your bum buddies. Eiger, ignore this dick's challenge. No real trader has to prove anything to a sim trader.
  15. jjthetrader
    Winnie, it's the testing that goes on after climactic action, like you described, that gives you your answers. This big downbar could just be the beginning of support coming in. Price may still need to go lower. A test of this high volume would be your entry signal. The 'no demand' you're speaking of often shows up in a reaction bounce after an event like you described. Professional money does not want to take price any further without a test. This isn't your best bet short either since we look for no demands after weakness has appeared and what you described is potential strength. Hope that helps.
  16. jjthetrader
    Another non-constructive post. This is not the thread for comments like that. It is for those who are interested in VSA to learn, not be discouraged. Go to the crock or not thread if this is your mindset.
  17. jjthetrader
    Winnie, the bar you marked as weakness isn't really weakness. Volume is just barely over your marked average. Some supply came in in that area but not enough to change the direction of the market. And the 'uptrust' isn't really an upthrust. Yes it's lack of buyers but where's the selling pressure or follow through? With volume like that it doesn't exist. All rallies need to pull back. Check out the volume on your downbars. Both are lower than the previous two. Your original inclination of the no supply bar was correct and a perfect place to look for an entry.
  18. jjthetrader
    Have you ever seen ANYONE trade VSA at all? Please don't add doubts like that into people who are trying to learn to read the market using price and volume. VSA is a very viable way to trade and very profitable. Please keep your crock or not stuff over there.
  19. jjthetrader
    I disagree with zdo. Wyckoff is the basis of VSA and Eiger mixes them both together (two sides of the same coin). Db however does not care to speak of "VSA". Eiger, keep up the good work. I lurk on this thread just to read your posts. Eigers a saint to put up with you guys who participate on the negative side of the 'crock or not' thread and then come here and ask his opinion. Give him a break or at least some praise.
  20. jjthetrader
    withdrew response
  21. jjthetrader
    First of all I'm not going to assume I should get in early on a trade just because it worked once for Sledge. Second, the smart money doesn't wait for signals, they create the signals. The second bar, the confirmation, is them locking you out. That is the VSA way to trade. The original question was about VSA. I was answering that. I wasn't answering how to gamble your money away. That's a different thread.
  22. jjthetrader
    I was just speaking from my experience. Too many times the trade didn't pan out if I didn't wait. If you're a 1hr bar trader then yes you wait one more hour. The reason it's riskier to jump in without confirmation is because you're not even looking at a valid signal so you're basically jumping in on a bar that looks like a test bar should but may not be at all. THe next bar could easily break the tests low and would prove it's not a test. So yes, if you are a gambler then by all means don't wait. It's always riskier to jump in early because you don't have probabilities on your side. Risk isn't totally determined by money management.
  23. jjthetrader
    Yes. There must always be a confirmation for this to be valid. If the next bar were down this would be a failed test. If you wanted in early you could try and take a limit entry, after the high of that test bar is broken, somewhere within the range of the test bar. But this would not be how Tom teaches it. This would just be one way to trade it. As always, getting in before confirmation is much riskier. Better to wait for a worse price and have more confidence.
  24. jjthetrader
    Thanks for all your hard work Eiger. It takes a lot of time to do up chart examples with explanations. We appreciate it. Sebastian better watch out because I'm sure TradeGuider will be recruting you soon and giving him the boot! lol.
  25. jjthetrader
    The ER2 15min gave some excellent signals for a short signal at the top today. It's amazing that the same setup came two days in a row.
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