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EURUSD 6E Euro
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EURUSD 6E Euro

  #511 (permalink)
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redratsal View Post
mighty vwap...#507

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So you taking a long?

Mike

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  #512 (permalink)
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Big Mike View Post
So you taking a long?

Mike

nope I was in with CL https://futures.io/traders-hideout/11184-italian-job-52.html#post161487but but I would have taken it fore sure.

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  #513 (permalink)
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Big Mike View Post
So you taking a long?

Mike


Is it really the VWAP, or is it just the structure of the market? A level of resistance is now support. Trend line confluence with demand coming in right at the confluence/demand line.

Mike, why have you added VWAP to your trading?

David

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  #514 (permalink)
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David_R View Post
Is it really the VWAP, or is it just the structure of the market? A level of resistance is now support. Trend line confluence with demand coming in right at the confluence/demand line.

Mike, why have you added VWAP to your trading?

David

There is no such thing as any one magical thing, even a widely used VWAP + std dev bands.

Someone in chat posted vah and val today. I noticed the val matched almost to the tick the 1st deviation on the vwap bands. I'm sure that also matched something else, maybe an ema 20, sma 100, or who knows what. Maybe it also coincided with a CCI cross, or a MACD cross, or a bounce off a bollinger band.

The point is, nothing is magic. I agree it's a confluence of events.

I had removed VWAP for a while because it wasn't real useful without the bands, and there was no MultiCharts VWAP with bands that worked reliably. There is now.

When I started using Sierra Chart more, I added VWAP and began being more interested in multi-session VWAP's after the last couple webinars from Peter. I've always liked the VWAP and have a thread on VWAP trading here.

I've also continued to evolve my trading strategy for bigger targets and less scalping, so the longer time frames or bigger trades benefit more from VWAP+bands in my opinion.

Mike

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  #515 (permalink)
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Big Mike View Post
There is no such thing as any one magical thing, even a widely used VWAP + std dev bands.

Someone in chat posted vah and val today. I noticed the val matched almost to the tick the 1st deviation on the vwap bands. I'm sure that also matched something else, maybe an ema 20, sma 100, or who knows what. Maybe it also coincided with a CCI cross, or a MACD cross, or a bounce off a bollinger band.

The point is, nothing is magic. I agree it's a confluence of events.

I had removed VWAP for a while because it wasn't real useful without the bands, and there was no MultiCharts VWAP with bands that worked reliably. There is now.

When I started using Sierra Chart more, I added VWAP and began being more interested in multi-session VWAP's after the last couple webinars from Peter. I've always liked the VWAP and have a thread on VWAP trading here.

I've also continued to evolve my trading strategy for bigger targets and less scalping, so the longer time frames or bigger trades benefit more from VWAP+bands in my opinion.

Mike


I agree with you 100%. There is no one magical thing, but do you think that if a moving average, floor pivot, or whatever, appears to act as some significant level that there is usually an area on the chart (left) that is the significant level?

I'm not challenging you and I sure as hell don't know. I'm still trying to figure it all out. I ask myself every day how should I go about doing this thing called trading.

David

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Big Mike View Post
the last couple webinars from Peter.

Peter? Which webinars might they be, are they posted here on futures.io (formerly BMT)?

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  #517 (permalink)
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David_R View Post
I agree with you 100%. There is no one magical thing, but do you think that if a moving average, floor pivot, or whatever, appears to act as some significant level that there is usually an area on the chart (left) that is the significant level?

I'm not challenging you and I sure as hell don't know. I'm still trying to figure it all out. I ask myself every day how should I go about doing this thing called trading.

David

They are significant levels for price, but it can't be tied directly to any one single 'thing' like a vwap.

I think everyone should be careful on "bounced off the <xyz>" type remarks. I am guilty of this too, but the fact is -- whether it is a vwap, an r1 pivot, an ema 20, value area high, point of control, or whatever --- there are probably 5 more things, maybe 50 more things, that could account for this "bounce". This of course becomes much (MUCH!) more so when you talk about esoteric indicators.

I think the closer you stick to session indicators the better, simply because they are more widely used.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
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2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
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  #518 (permalink)
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Cashish View Post
Peter? Which webinars might they be, are they posted here on futures.io (formerly BMT)?

Click Webinars, then Ctrl-F and type Peter, should be two or three matches.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
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  #519 (permalink)
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Big Mike View Post
I think everyone should be careful on "bounced off the <xyz>" type remarks

Mike

There is a contradiction here with post #1 https://futures.io/forex-currency-trading/13614-eurusd-6e-euro-eur-usd-futures-contract-euro.html, it is the exploration and the sharing of thoughts that bring sometimes the best ideas (especially if documented). Do not copy anyone's trading style, make it yours.

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  #520 (permalink)
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redratsal View Post
There is a contradiction here with post #1 https://futures.io/forex-currency-trading/13614-eurusd-6e-euro-eur-usd-futures-contract-euro.html, it is the exploration and the sharing of thoughts that bring sometimes the best ideas (especially if documented). Do not copy anyone's trading style, make it yours.

I'm not sure why you say it is a contradiction. It's just a discussion. I agree and have always said you can't expect success by trying to copy someone else. If you want to copy someone else, just hire a fund manager and write a check.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

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