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Skeptical about VSA
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Skeptical about VSA

  #1 (permalink)
Trading Apprentice
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Skeptical about VSA

Hello,
I have just finished reading Tom Williams's book, "Master the Markets". I found the information very interesting but yet I am skeptical. Since market makers and other professional money can hide their orders, how is it possible to gain an accurate picture of the volume? Surely, if just interpreting volume was the key to generating profits by following professional money then all traders would pick up on it as well and then professional money would hide orders.
Is anyone here profitable in using VSA?

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  #2 (permalink)
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  #3 (permalink)
Market Wizard
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BW10 View Post
...if just interpreting volume,,,
all traders would pick up on it ...

interpreting is the key word here, Saying 'all' trader is like saying all trader trade the same way which is obviously a false hypothesis.

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  #4 (permalink)
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BW10 View Post
Hello,
I have just finished reading Tom Williams's book, "Master the Markets". I found the information very interesting but yet I am skeptical. Since market makers and other professional money can hide their orders, how is it possible to gain an accurate picture of the volume? Surely, if just interpreting volume was the key to generating profits by following professional money then all traders would pick up on it as well and then professional money would hide orders.
Is anyone here profitable in using VSA?

Before you spend either money or time on this, find someone who can trade it live, in real-time.

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  #5 (permalink)
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BW10 View Post
Hello,
I have just finished reading Tom Williams's book, "Master the Markets". I found the information very interesting but yet I am skeptical. Since market makers and other professional money can hide their orders, how is it possible to gain an accurate picture of the volume? Surely, if just interpreting volume was the key to generating profits by following professional money then all traders would pick up on it as well and then professional money would hide orders.
Is anyone here profitable in using VSA?

Not all orders are hidden. Specifically, futures orders are not. If you want, you can see every order that is executed including implied orders resulting from spreads.

I dont know about VSA but nothing written in a book or published elsewhere is going to work out of the box for anyone. There are credible techniques that people write about and discuss but a lot of due diligence has to go into any technique by a prospective trader before it becomes profitable for that trader. There is a vast difference between theory and its application in this field because application tends to be very specific to the trader applying it.

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  #6 (permalink)
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BW10 View Post
Hello,
... how is it possible to gain an accurate picture of the volume?

They use volume in the simple sense, i.e. volume on a single bar.

VSA simply says Volume + OHLC = Information. Nothing more, nothing less. No Holy Grail, but not a void either. Imho a lot of the complexity can be dismissed and reasonable use made of the simpler side of condition analysis, e.g No Demand, Signs of Strength or Weakness. No different to many approaches really, just another way of looking at the picture. For me the software systems tend to generate too many signals to be useful out of the box but it's always good to think about what one or more bar(s) (i.e a lump of time) might suggest, e.g. what trading behaviour is hidden inside.

Travel Well
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  #7 (permalink)
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BW10 View Post
Hello,
I have just finished reading Tom Williams's book, "Master the Markets". I found the information very interesting but yet I am skeptical. Since market makers and other professional money can hide their orders, how is it possible to gain an accurate picture of the volume? Surely, if just interpreting volume was the key to generating profits by following professional money then all traders would pick up on it as well and then professional money would hide orders.
Is anyone here profitable in using VSA?

there is an excellent Linda R video here somewhere that describes alternative proxies for volume

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  #8 (permalink)
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ratfink View Post
They use volume in the simple sense, i.e. volume on a single bar.

VSA simply says Volume + OHLC = Information. Nothing more, nothing less. No Holy Grail, but not a void either. Imho a lot of the complexity can be dismissed and reasonable use made of the simpler side of condition analysis, e.g No Demand, Signs of Strength or Weakness. No different to many approaches really, just another way of looking at the picture. For me the software systems tend to generate too many signals to be useful out of the box but it's always good to think about what one or more bar(s) (i.e a lump of time) might suggest, e.g. what trading behaviour is hidden inside.

I cant see a chart without to know a about the volume. volume give you many information a chart without dont give. I dont look at every candle and its volume but at special times (LO? NYO?) and its near SR SD zones? small candle with big volume? big candle with small volume? or big wick with high volume? were its happen? SR?

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  #9 (permalink)
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Bernhard View Post
I cant see a chart without to know a about the volume. volume give you many information a chart without dont give. I dont look at every candle and its volume but at special times (LO? NYO?) and its near SR SD zones? small candle with big volume? big candle with small volume? or big wick with high volume? were its happen? SR?

Yes, I agree it's important and I do make use of OHLC+Volume myself. I would like to be better at it but I have enough alternative pictures that a little is enough for now. Cheers.

Travel Well
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  #10 (permalink)
Market Wizard
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BW10 View Post
Hello,
I have just finished reading Tom Williams's book, "Master the Markets". I found the information very interesting but yet I am skeptical.


Hulk View Post
I dont know about VSA but nothing written in a book or published elsewhere is going to work out of the box for anyone.... There is a vast difference between theory and its application in this field because application tends to be very specific to the trader applying it.


ratfink View Post
VSA simply says Volume + OHLC = Information. Nothing more, nothing less. No Holy Grail, but not a void either.... No different to many approaches really, just another way of looking at the picture. For me... it's always good to think about what one or more bar(s) (i.e a lump of time) might suggest, e.g. what trading behaviour is hidden inside.

It's very unlikely that one method of trading on volume, or anything else, will always work for all traders at all times, so it does not make sense to just take something from a book and run with it.

If you can use it to help make sense of price movement, along with everything else you know, and if it can add to your skill set, then make use of it to the extent that it does.

Basically, even if there were a "Holy Grail", it would probably not work for anyone unless they took it into their own understanding of the market and made it their own. So see if this VSA stuff will help you. Look at it in terms of your own understanding and how it works for you, or not. What it may or may not do for someone else will not matter much.

There is always more than one way to trade well. All you need is to put together something that you can make use of yourself.

Bob.

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