[VSA] Volume Spread Analsysis Part III

[Eiger 10]

You forgot Shell Divers, One-Eyed Joes, and Opps! You need to know them all to pass the test

 

It is funny that people get so pissy over these things. It really makes me laugh. All of these names come from Bob Evans. Evans owned Wyckoff Associates (before it becameWyckoff/SMI) and was keen on teaching people how to trade the Wyckoff Method. In the 1940s, he used to send out a ree-to-reel tape machine along with teaching tapes of the then current markets! Eventually, they had more subscribers to the Course, tape machines became less expensive, and the just sent out the tapes. In any event, Evans was quite an educator. He was also a folksy kind of guy and looked to provide metaphors and analogies -- little stories -- that people could relate to and in that relating, develop a better understanding of Wyckoff principles and how the markets move. That's all. I really don't think he was trying to circumvent or undermine learning the Wyckoff method to understanding the market in any way. He wasn't malicious or trying to steer traders astray. As i see it, his intent was simply to teach and he had much of value to teach.

 

Many of his old tapes from the 1940s through the 1960s are available, some in MP3 format. Listen to one or two of them yourself and draw your own conclusions. I doubt you will view him as a manifestation of the Evil Empire

 

Eiger

[DbPhoenix 42]

Ahh a test :D Actually i think I am up to date on the lingo except some of the SMI additions creeks, boy scouts, ice flows, polar bears etc.

 

It doesn't really matter. None of these are mentioned in Undeclared Secrets, and this is the VSA Forum, after all.

[Eiger 10]

 

As for "Unit 3", that's part of the SMI course. As I said, Wyckoff makes no mention of them.

 

He makes no mention of "flow," "boxes" - however famous, or Ticks either. I've looked really hard through the course and found no mention of any of these things. Hmmm, how do we understand this? Are you saying that if you think it OK, then it must be Wyckoff? Get off your high horse. And, Wyckoff has always been a part of the VSA forum. After all, VSA is derived from Wyckoff.

[DbPhoenix 42]

You forgot Shell Divers, One-Eyed Joes, and Opps! You need to know them all to pass the test

 

It is funny that people get so pissy over these things. It really makes me laugh. All of these names come from Bob Evans. Evans owned Wyckoff Associates (before it becameWyckoff/SMI) and was keen on teaching people how to trade the Wyckoff Method. In the 1940s, he used to send out a ree-to-reel tape machine along with teaching tapes of the then current markets! Eventually, they had more subscribers to the Course, tape machines became less expensive, and the just sent out the tapes. In any event, Evans was quite an educator. He was also a folksy kind of guy and looked to provide metaphors and analogies -- little stories -- that people could relate to and in that relating, develop a better understanding of Wyckoff principles and how the markets move. That's all. I really don't think he was trying to circumvent or undermine learning the Wyckoff method to understanding the market in any way. He wasn't malicious or trying to steer traders astray. As i see it, his intent was simply to teach and he had much of value to teach.

 

Many of his old tapes from the 1940s through the 1960s are available, some in MP3 format. Listen to one or two of them yourself and draw your own conclusions. I doubt you will view him as a manifestation of the Evil Empire

 

Eiger

 

Whether Evans was a Master Trader or not is beside the point. If you want to delve into all that, address it in "rollotape"'s thread, as you seemed so eager to do while he was providing his "Wyckoff analysis". None of this is addressed in Wyckoff's course, much less in Undeclared Secrets. Sticking to Williams' work might prove to be enormously helpful to those who are trying to understand VSA. It would certainly be simpler. Plus nobody would have to buy anything.

 

Hope this is helpful.

[sevensa 10]

Whether Evans was a Master Trader or not is beside the point. If you want to delve into all that, address it in "rollotape"'s thread, as you seemed so eager to do while he was providing his "Wyckoff analysis". None of this is addressed in Wyckoff's course, much less in Undeclared Secrets. Sticking to Williams' work might prove to be enormously helpful to those who are trying to understand VSA. It would certainly be simpler. Plus nobody would have to buy anything.

 

Hope this is helpful.

 

As much respect as I have for you, unfortunately this is not helpful at all. Eiger's first post was helpful, regardless if this is called a spring, springboard, iron board, or any kind of board, but you managed to dilute this into a back and forth about silly things like terminology and who said what and when.

 

Please just let this thread be without feeling the need to interfere each time. We all know your feelings about Wyckoff and VSA. No need to repeat this over and over and over.

[DbPhoenix 42]

He makes no mention of "flow," "boxes" - however famous, or Ticks either. I've looked really hard through the course and found no mention of any of these things. Hmmm, how do we understand this? Are you saying that if you think it OK, then it must be Wyckoff? Get off your high horse. And, Wyckoff has always been a part of the VSA forum. After all, VSA is derived from Wyckoff.

 

You've made it clear that you never grasped the importance of the continuity of price flow in Wyckoff's original course. But it is that which is the foundation of his wave metaphor. As for "boxes", they are drawn around trading ranges in order to highlight them. Wyckoff originated the idea of trading ranges and of support and resistance. As for Ticks, what do you think a print on a tape is?

 

And though certain ideas of Wyckoff's may have been incorporated into VSA, it is derived from SMI, not from Wyckoff. That you believe that there is no difference does not mean that there is none.

[Eiger 10]

This is typical of you Db. Clearly, you are looking for a fight and any reason to derail the VSA thread. We all know this. You need not direct anyone on where they may post and what they should do. You do not own this site. Please stop all of this now.

[DbPhoenix 42]

This is typical of you Db. Clearly, you are looking for a fight and any reason to derail the VSA thread. We all know this. You need not direct anyone on where they may post and what they should do. You do not own this site. Please stop all of this now.

 

Not looking for a fight at all, just correcting a misstatement. As for derailing the thread, I would be very happy to see the VSA Forum focus on VSA.

 

You are, of course, welcome to delete all of these posts.

[Eiger 10]

Thank you.

 

Eiger

[TheRumpledOne 14]

 

I have incorporated some of the VSA tools into DRAIN THE BANKS REV 8.

 

I use the STOPPING VOLUME "X"s to alert me to a possible reversal.

 

P.S. why would anyone want to derail this educational thread?

[thecloser 10]

Is there a free online course that someone could take to learn VSA or wykoff. Any help would be greatly appreciated

Thanks

TC

[Eiger 10]

No free course that I know of. Tom Williams's Undeclared Secrets that Drive the Stock Market is the basic text for VSA. The Wyckoff Course is available from Wyckoff/SMI - google and you will find. Units 2 & 3 are the heart of the course, if they still sell it by individual units.

 

Eiger

[DbPhoenix 42]

Is there a free online course that someone could take to learn VSA or wykoff. Any help would be greatly appreciated

Thanks

TC

 

As far as Wyckoff goes, course? Not exactly. Free? Yes. Just check into the Wyckoff Forum.

 

As for VSA, I can't say. I suggest you begin with the Pure VSA and Helpful Hints for Newcomers to VSA threads here.

 

Edit: Sorry, I neglected to mention perhaps the best resource in this forum, the Summary Stickie. Those involved did an exceptional job. It's not exactly short, but it's a hell of a lot shorter than its source.

Edited June 19, 2009 by DbPhoenix

[monad 10]

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:)))

[Eiger 10]

As a follow up to the premarket Spring posted earlier and to get this thread back on track ....

 

Just because a market dips below support and then rallies, doesn't make it a Spring. On the attached achart at A, the market comes down on wide spread and an increase in volume - not what we are looking for in a Spring. The wide spread, poor close, and increased volume is an indication of supply. Compare the premarket Spring with the behavior at A. In the pre-market, we see a modest dip under support. At A, we see the largest reaction since the rally began. The larger reaction, wide spread, and increased volume to the downside signals a change of behavior and not a wise place to enter longs.

 

Hope this is helpful,

 

Eiger

[thecloser 10]

You guys are awesome, I am new to this method and am trying to get as much information as possible. Thank you to all

TC

[phlsti 10]

Hi Elger,

As a day trader, I want to buy this support area at A. Is VSA 'telling' me anything to help me buy at this support?

I see the NoDemand bar around 12:05 to help with selling that down move. Just wondering if there is any help at A.

[sevensa 10]

Hi Elger,

As a day trader, I want to buy this support area at A. Is VSA 'telling' me anything to help me buy at this support?

I see the NoDemand bar around 12:05 to help with selling that down move. Just wondering if there is any help at A.

 

I am not Eiger, but I see an immediate reversal the bar after A at bar 1, indicating potential strength, a no supply bar two bars after that at bar 2, followed by another no supply bar two bars later at bar 3, followed by a test immmediately after that at bar 4.

 

However I think this was a risky trade as all this action happens just below the broken support and upside potential was limited due the closeness of the day's high. However, the price action indicates that a test of the day's high was likely to happen but taking quick profit would have been wise at the grouping of 4 bars stalling close to the high with weak closes that just couldn't go higher at 5. You have to take what the market gives you.

[phlsti 10]

Thanks for the reply, sevensa ...... I see what you mean. After breaking the support, the most that could reasonably be expected was a move back up to test that support, now resistance. I had seen the NoSupply bar (2), but figured that was a little late to get in.

 

I'm finding VSA a good filter for my study of S/R and average line movement ...... I can see I need more time with it.

[thecloser 10]

Thank you for your input, you guys are exceptional. Keep this going it is great info and helping me greatly

Thanks

Tc

[kuky969 10]

Thecloser

I sent you a private messages

[Eiger 10]

I appologize to you Monad for my recent comment and have delted as you requested.

 

Eiger

[monad 10]

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;)

[Tasuki 10]

you are dealing with savvy southern England crowd here, so take heed:))))

All of these guys have skeletons in their cupboards,

 

Sorry, just can't resist---*savvy* southern England, you mean like the fairy twinklers in Glastonbury?

Again, apologies, it's been a tough morning---the phrase, I believe, is "skeletons in the *closet*, unless you Brits have expanded your cupboard space dramatically since I was last there.

 

OK, enough foolishness. I have a serious invitation. I'd like all you VSA experts to please visit the Volume Splitter thread in the coding forum, and check out my latest post (permalink #311).

 

The fourth chart is the one I want you to look at.

 

For a little background, the entire point of the Volume Splitter thread is to see visual proof on your charts of the actions of the big traders. VSA has always said, "if you see big volume, it has to come from big traders." Yup, makes perfect sense, but maybe you could gain some additional information if you had an indicator that visually showed you what they were doing, and how strongly they were doing it. Then again, maybe you couldn't gain additional information---the volume splitter thread is a work in progress, and maybe we're all wet.

 

It's been tough sledding in the Volume Splitter thread, but I think that we have finally done it. Then again, maybe not, which is why I'd really like you folks to check it out.

 

Yeah, yeah, I know, it's a squiggly line, but maybe this one is not a lagging indicator. Just for the record, the indicator says VS_MACD2---however, it doesn't look like a MACD, nor does it behave like one.

 

VSA purists will turn up their royal noses at the idea that a squiggly line could give them information about the big traders, but I urge you to keep an open mind. You know what they say, minds are like parachutes--they only work when open.

[SRspider 10]

Hello, I am new to this thread and have found it very beneficial thus far. Have only been reading for a week and still have a lot of catching up to do. However Its seems very logical and since then I have been watching the market with this analysis in mind. Here is a chart of what i saw on friday with a question on one of the concepts I have read about. Any comments would be appreciate it.

thanks to all who have contributed to this great thread.