[VSA] Volume Spread Analysis Part II

[tawe trader]

	Quote:
	No chance to change the avatar, but no worries , I don't post that much. The avatar represents my style of trading and is an emotional support to remind me to only take trades when the opportunity arises and not overtrade. Real spiders kinda give me the shivers too, but I can assure you I don't bite. good trading erie

Hey no probs, erie. I suppose it's good to be afraid, just like in the mkts.

Start everyday with the fear of having your account wiped out and then trade accordingly to prevent that ever happening.

You never know, one day your spider may decide it's bored and go for a stroll around TLab, if it goes any where near my dog it would most probably be eaten, she is disgusting in what she finds and eats.

	Quote:
	I'm also reminded of Robert the Bruce and the spider. Try try and try again

Blowish - I also like the Robert the Bruce story. If nothing else, perseverance is definitely required in this game.

Regards
Tawe
.

[Bearbull]

	Quote:	BlowFish
	Amen Amen Amen. Its quite easy to find the path but following it can be very hard. Seems to me we erect our own barriers, guess its some misplaced protection mechanism. Can a mentor help ? I think so but they need to be focused on this side of things rather than the 'technicals'. Again firstly you must be accountable to yourself however having someone else hold you to account might be valuable for some. You know sometimes I enrol on courses or sign up for study as an excuse not to deal with what needs dealing with. That's a sobering thought.

There is no question of seeking for The Holy Grail, mentorship is sought with the trust and belief that the mentor has practical expertise to guide you through both psychological and technical issues, to teach how to identify signals based on price/vol, then how to trade (crucial, crucial, crucial) strategy and tactics of entry, trade management,

If you come out of the program not having learnt how to trade what has that achieved, you find the same in TG Bootcamp and TG customer webinars,

"How you trade is up to you" What if similar teachings were offerred in other fields of uncertainty, diving, flying, even driving, would you take training from somebody who has no proven practical experience and has no ability to show you how it done. Then when being told now it is upto you, would you take off in the plane, or dive into the middle of atlantic, ofcourse not.

As for learning with mistakes, in diving, flying, the first mistake would be the last.

[jjthetrader]

	Quote:	thrunner
	Thanks for the video, I think However, we really didn't needed to hear "next slide please" and waited 30 seconds and then "Gavin, did you hear me, next slide please" I don't think we needed to hear "you will make obscenely amount of money" either. There is some truth to what he presented, but this video really has zero technical content as to setups until about 35 minutes into this 41 minute video, and all of that was about following the Tom Williams' Trade Guider indicator.

Thrunner, the video wasn't for 'experts' such as yourself. New people join this thread everyday and are totally new to VSA. I figured it had something of value for them.
But if you've got more advanced material to share we'd love your contribution.

[Eiger]

Hi Folks,
I'm new here and am a market student keenly interested in VSA and the Wyckoff method. I trade the ES, and just wanted to say hi (I hope that's OK).

I am reading through VSA Part I - a great thread. I notice that some of Seb Manby's audio links no longer seem to work. Do you all have them stored somewhere here, by chance?

[mister ed]

	Quote:	Eiger
	I notice that some of Seb Manby's audio links no longer seem to work. Do you all have them stored somewhere here, by chance?

Hello Eiger - That's a good idea - I do have some of Seb's presentations stored on my PC, I will search them out on the weekend and post links to them ...

[mister ed]

Actually, it is the weekend here ... so here is what I have ...

ES 08 Jan 08
http://www.traderslaboratory.com/fileshare/502450


ES 11 Dec 07 (swf file, all the others are WMV)
http://www.traderslaboratory.com/fileshare/37762

ES 14 Dec 07
http://www.traderslaboratory.com/fileshare/678724

ES 13 Dec 07
http://www.traderslaboratory.com/fileshare/795527

ES 18 Jan 08
http://www.traderslaboratory.com/fileshare/736533



All these are hosted on the Traders Lab fileshare facility, big thanks to Soultrader for making this available (along with a great forum too of course!)

Please note:
How long will my files stay hosted here?
Your files will be kept on our servers as long as it is downloaded every 90 days.
So, if these files are no longer available its because they have not been downloaded for 90 days.

[Soultrader]

Dont worry about the uploads being taken down. I changed it to 10,000 days.

[lrabovetskiy]

Hi jjthetrader,

Thank you very much for your excellent analysis. You suggested going long after confirmed test somewhere around 14650 level. If you were going long there where would your stop be?

One more question. Could two up bars following the big down bar that I marked 1 be considered tests? They went down to the area of the last big down bar on lower volume. I am not sure what the formal definition of the test is. Opening and closing in the middle confused me.

Thank you,

Leonid

[CandleWhisperer]

Remember: Strength appears on down bars and Weakness appears on up bars ideally. Hence the ideal test bar closes down. Next would be an equal close and the third option is up.

So without looking at your chart again, the general answer is yes an up bar could be a test. However, like TG says, "pay more attention if the test is on a down bar".

In a Shake out, however, the ideal would be a close on the highs with a close higher than the previous bar on high to ultra high volume.

[jjthetrader]

	Quote:	lrabovetskiy
	Hi jjthetrader, Thank you very much for your excellent analysis. You suggested going long after confirmed test somewhere around 14650 level. If you were going long there where would your stop be? One more question. Could two up bars following the big down bar that I marked 1 be considered tests? They went down to the area of the last big down bar on lower volume. I am not sure what the formal definition of the test is. Opening and closing in the middle confused me. Thank you, Leonid

Personally my stop would be just below the test. That area was tested for supply already and if price moves back into that area with volume then I'd want to be out, it would be a failed test. For those with larger account sizes you could probably put your stop below the last swing low.

A close in the middle is acceptable for a test. The volume is what's important. The test I showed you wasn't exactly perfect that's why you wait for the confimation bar.

Those two bars after the down move I wouldn't call tests. They're more of a consolodation working out the balance of supply and demand. Since they inch up slightly demand is overcoming any supply but the closes in the middle aren't that impressive. That's why you want a test.

Hope it helps.