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 futures io?
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.
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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.
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