Started to learn VSA just few weeks ago. My entries are based on VSA and Volume profile. This are just sim account trades, I'm not trading the real money now because I don't feel prepared for the real markets now.
Last edited by mrjoe; December 30th, 2010 at 05:28 PM.
Reason: Had to correct info written in the image
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Today trades based on VSA and VP. I'm taking a break from trading for few days. Going to read Master the Markets book again. Looking forward to read Enhancing Trader Performance. Psychology is my big weakness. As INTP personality type I tend to study things way too much ... which results in not actually doing them .
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I'm thinking it is very interesting idea so I created indicator based on GOM package. I do not have enough data recorded, so image is showing only last 20 days (sorry for that). Maybe somebody with more data can test it on longer time period.
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Its my understanding that VSA was developed by Tom Williams based on the what Wyckoff discovered/learned about the markets from other traders such as Jesse Livermore and others. I think it was Williams that added the Volume, Spread Analysis to bars and prior bars based on what Wyckoff did. I think Wyckoff is interested in the logic of the market such as accumulation and distribution as well as behavior that can be seen in the structure of the market. I guess in some ways there is a relationship, but VSA can get very complicated with its many terms. Not sure if this was helpful or not.
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Of course you cannot base your trading decisions on average trade size. But I think that analysis of trade flow is important. I don't like to dismiss any idea as worhtless without looking at it at least for a moment.
Tom williams adapted Wycoffs teachings into VSA . Mr. Williams then developed trade guider software which Ive tested out and if youre willing to commit substantial $$s can help you ID imbalances between volume and price , like a primitive delta analysis . "Master the markets " is an advertisement for trade guider but is full of good info about the relations between volume patterns , closing prices and price bar spreads . Better would be to start here and save your $3k -
Jeffs (and the others) use of bar patterns and VOLUME are extremely effective in the hands of those willing to put in the time to master it . Add the ability to read support and resistance well and trading volume patterns off of them and youre ahead of the pack .
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