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Experience with TradeGuider? (www.tradeguider.com)
I think the concept of TradeGuider ( www.tradeguider.com) is good. Is there anybody who has already taken a subscription? Is this trading system recommendable?
Can you help answer these questions from other members on NexusFi?
Tradeguider is all about Volume Spread Analysis ( VSA) which is essentially based on Wyckoff.
You do not really need the software for doing VSA. I have never used Tradeguider but trading buddies of mine have in the past and don't use it any longer.
VSA is not a mechanical system so the software cannot tell you when to buy/sell although it does give VSA based signals.
I'd suggest you first read the books by Tom Williams before going further if you want to trade that way.
You could do much worse with the plethora of dodgy "systems" floating around out there.
I like their concepts. Been to a couple of their webinars with Gavin Holmes as presenter and their stuff makes sense to me.
They insist that volume in the FX market plays a significant role and now have a plug-in for the MT4 platform which I am going to jump on. Plug-ins for SC, e-signal , Metastock too but nothing for NT.
Im familiar with Gavins work/yt videos etc. too . Volume and forex , Ive found , isnt as powerful as in futures or equities markets . Ive monitored esignal forex volume with a single contributor feed from my ECN and the only clear volume patterns are during obvious range and volatility expansion . Its fair to also state here that "master the markets" is an advertisement for tradeguider .
TG mentions a "study" showing that tick volume in Forex is a good substitute for real volume. As we all know, however, for every opinion there is a suitable study out there.
My feeling is that using tick volume adds an unnecessary element of uncertainty to your trading. First, one should see whether VSA works with futures/stocks at all before jumping into the forex market.
Right , VSA isnt something that "works" but is something you work . Its a very subjective approach and what one trader sees as a potential for price to drop another sees as a potential to rise . Paying 3K for software to learn to work volume is steep imho since ultimately you need to find your way mostly on your own . Paying this fee to a personal mentor would be very different .
I too like their system. I started in their Future Trading room, day 1 with Steve Phillips. It took me a while to grasp the concept, but once I did, the trades taught by Steve in his seminar, became very successful.