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A different type of trade. Only a small position for these types of ones.
Buy: 0.27
Stop: 0.185
Buy: 0.27
Stop: 0.185
Simulated/Hypothetical trades
- Thread starter pavilion103
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Hey Pav,
Have just read through the thread and quickly over the tradeguider threads. Your posts have switched from amibroker to tradeguider.
Is this what you are mainly using now?
How did you find as an educational tool?
How are you finding it live?
Cheers
Have just read through the thread and quickly over the tradeguider threads. Your posts have switched from amibroker to tradeguider.
Is this what you are mainly using now?
How did you find as an educational tool?
How are you finding it live?
Cheers
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I've used Tradeguider for some time.
I started posting charts on here with Amibroker before I got Tradeguider.
Currently:
- I use Amibroker for my scans and watchlists.
- I use Tradeguider to bring up charts to analyse in more detail
As mentioned on this forum Tradeguider is a good tool for those who want to learn VSA. The signals can be clicked on and you can read a more detailed description of them. They alert you to certain things that are occurring.
These signals are NOT to be used as entry and exit signals. It doesn't interpret the chart for you. It simply points things out and then you must apply your own VSA analysis to make sense of what these signals mean in the context of the broader picture (not in isolation).
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Amibroker has a good VSA code for free, including bar-by-bar descriptions.
Example:
Attachments
tech/a
No Ordinary Duck
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Like every reversed engineered version of most things
some are accurate and most are accurate every now and again.
The many VSA patterns are derived from multiple bars and volumes.
and as such missed in reverse engineering.
Where most go wrong with VSA is as Pav has pointed out
but Ill go a little further in that their application of VSA lacks!
Ive used VSA since Gavin Holmes took it on. ( Trust me as an Ex Cop in the UK Gavins BEST ANTICIPATION was the populatity of VSA and his relentless ability to market a winning product).
VSA is a powerful tool as is a lot of chart reading not seen by VSA exponents.
If you look at enough charts youll find a few.
APPLICATION is the key.
Knowing HOW to trade is the Door
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Yeah by reading the forums, tradeguider is just that another resource to use as a "guide" in conjunction with everything else.
As first indicated my first few posts I am very new. The only thing I have learnt is how much I dont know. I have not really started any education yet, I am just trying to figure out what I want to focus on. Even this has taken me a while to decide haha
Cheers GB. Bit worried about inaccurate software when first starting out as I may not/probably not be able to identify the false and missing signals. Dont suppose you have run some of the free software and compared it against tradeguider to see how they compare?
As first indicated my first few posts I am very new. The only thing I have learnt is how much I dont know. I have not really started any education yet, I am just trying to figure out what I want to focus on. Even this has taken me a while to decide haha
Cheers GB. Bit worried about inaccurate software when first starting out as I may not/probably not be able to identify the false and missing signals. Dont suppose you have run some of the free software and compared it against tradeguider to see how they compare?
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I don't have TG to do a comparison, but the guy who wrote the free script put a heck of a lot of work into it. It does do some multi-bar analysis too.
Available here, for AB:
http://www.wisestocktrader.com/indicators/3044-volume-price-analysis-v2-fix
One thing I have done with this code in the past is take all the bullish signals possible for VSA and backtest them individually with various filters and stops, and they mean nothing. I even looked at combinations such as "test for supply followed by upthrust bar" and found nothing that could be run profitably. But maybe if you look at say 20 bars and take all that together along with a whole bunch of other factors....maybe that can work. But small groups of signals, no.
tech/a
No Ordinary Duck
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One of the few which can be used as a stand alone.
You have learnt more than most.
Learn HOW to trade.
What you use in that endeavor is of little importance if you dont know how to acheive more Reward for Risk
Thats how the differences were found!
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Similar to what I was trading in the rising market. Not sure how this will fare in current condition.
tech/a
No Ordinary Duck
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Thought Id post my email reply here as well Pav
I place quite a weight on where the price action is relative to the life of the chart.
Here is the weekly.
Nice confluence!
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Much appreciated.
Good to look at the EW
Good to look at the EW
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When you say learn HOW to trade, are you referring to subjects similar to what is covered in "Universal principles of successful trading"?
tech/a
No Ordinary Duck
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Yes thats a good start as is Radges Unholy Grails.
But unfortunately as simple as it is it is in itself complex for each of us.
There are 3 ways to make a profit (That I know of).
(1) Many more wins than losses where the accumulated wins exceed the accumulated losses.
OR
(2) Much larger wins where the Larger wins exceed the accumulated losses.
OR
(3) A combination of both.
All of course are positive expectancy.
If you dont know what you put in place day in day out to acheive that then you dont know how to trade.
Your gambling--punting.
Then there are all the aspects which amplify success.
The 80/20 Rule.
Leverage and its proper use.
The power of compounding.
Correct and ample capitalization.
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Cheers Tech, we all must start somewhere and hopefully find our way to profitability. Those 2 books should be on my door step any day.
Enjoying this thread, the charts dont mean to much to me yet but I am starting to see "something" after it has been pointed out, cheers guys
Enjoying this thread, the charts dont mean to much to me yet but I am starting to see "something" after it has been pointed out, cheers guys
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I didn't end up taking this one because of the above posts. Dangerous time to be playing around with these. If I had I'd probably look to move the stop up to below this bar (break-even) because of the high level of risk.
Either it goes on with it or it doesn't. Maybe also the psychological factor of $10 could have an impact. Note the high of today was 9.99
Either it goes on with it or it doesn't. Maybe also the psychological factor of $10 could have an impact. Note the high of today was 9.99
tech/a
No Ordinary Duck
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Ignore what others say.
You had and still have a profitable
Plan. As it has panned out you would now
Be at B/E
It was a good setup.
Supply isn't yet that evident.
How did you find that one?
Nothing coming up on my scans
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Simple scan this one. Any stock that has made the highest high of 40 bars in the previous week.
I always go back 5 trading days to see how price has responded at these new highs e.g. consolidation/no supply.
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The reason I got so excited about this one is because it's the only bloody one that has come up for a while!!!
Was great when our scans were bringing these up frequently!
Was great when our scans were bringing these up frequently!
CanOz
Home runs feel good, but base hits pay bills!
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I remember the times when Nick's power setups were bringing me more trades than I had capital for...I think the max number of positions I had open at the time was like 18 or something, too much for me when i was working fulltime.
It was a good run then though.
CanOz
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Well that has posed a bit of a dilemma for me during those good times.
1) Do I take 1.5-2% fixed fractional positioning as my account size increases
2) Do I use a lower fixed fractional percentage of account and take as many trades as capital allows i.e. more diversified.
So far I've taken option 2, but not sure how extreme to take this.
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