Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
Anyone find success using mp/vp for currencies other than the Euro?
I wonder if it's worth looking into value area confluence zones for different currencies overlaid ontop of one another. It's a vague thought that I'm wrestling with that hasn't come into focus yet. I don't think it's possible to have two different instrument's mp charts on one window though at least with sierra anyways. Since there are many currency pairs with the same base currencies at least we have the ability to pick the best patterns but then there is more fundamentals to keep track of.
R.I.P. Joseph Bach (Itchymoku), 1987-2018.
Please visit this thread for more information.
Can you help answer these questions from other members on NexusFi?
When trading CL I use MP, VP and VSA. But I think I do that because that is what I am familiar with.
I have not even tried to integrate volume in any manner in forex trades, my focus has been on structure. Trading without volume has put more emphasis on chart patterns. I have seen where I can get too focused on volume sometimes and miss the bigger picture.
I trade forex with session times, which gives the extremes of MP, but base trades there off pure price action, not knowing if it was 10 or 100 or 1000 orders that causes the move, and I do not feel I am missing anything...
Yet, I have not been able to trade CL the same way, psychologically. Maybe when the scaling become the same I will. In futures, I have to be very precise. In forex, I get a wider area due to scaling, so the exact volume at that moment is not that important.
VP works perfectly fine with Forex futures (majors, dollar pairs), but not with spot. Spot forex does not give correct volume since it is broker related (and a tick aggregate) and no one has access to the deeper interbank volume. So for spot, you can only use MP, not VP.
The great thing about the futures is that you get very reliable volume data since as whole it is larger than any single spot broker.
My recommendation is to stick with the majors with VP.
I just let these trades run as far as they can go and trail my stop/limit at different levels. 1.3555 is where my stop is for now and I guess the VPOC at 1.3515 is my next target. The runners work for themselves. I'm not an expert and I'm still not entirely sure mp/vp work for currencies but so far it's going alright. With all things regarding trading it's going to take a large sample size to get the figures - no one perfect trade is going to change my mind but it helps.
R.I.P. Joseph Bach (Itchymoku), 1987-2018.
Please visit this thread for more information.
