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I just want to add to what smwinc said before.
VSA, MP, Moving averages, RSI, Candlestick patterns ect ect to me are like different types of martial arts. Each one having its own unique philosophy on how to attack and defend.
Who’s the better fighter, Bruce Lee or Jet Li? Both practiced different forms of martial arts but both of them could be considered great martial artists. What does this tell you? Well it tells me that it’s the practitioners’ ability to use the tools available to him/her that will determine his/her success. The martial art isn’t the most important thing, what matters is have you put in the time and the effort to perfect your technique?
The point is that people like Bruce or Jet could have studied any martial art and they still would have ended up as martial arts legends.
This thread reminds me of an interview with the greatest chess player of all time, Gary Kasparov. The interviewer asked him, “Which is your favourite piece”?
Garry replied: “I don’t have a favourite piece, I believe in all the pieces, from the pawn all the way up to the king”.
I think this is what separates the pro’s from the amateurs. IMHO I think having a discussion about whether VSA works or not is a waste of time.
I’m sorry to sound blunt but I think discussions like these will not help anyone. Just because somebody can’t get a particular method to work doesn’t mean it’s crock. All it’s telling you is that this particular trading methodology doesn’t suit you as an individual.
Peace…
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A lot of good insight in this post, I think. I like the analogy to the martial arts and the thought that whatever was studied, they would have become great martial artists (it's less the method, more the person). It's the same as saying that Tiger Woods would have been a great tennis player, had he been handed a racquett rather than a club when a kid.
The main reason for this thread was that these debates and discussions were taking over the
VSA threads and that was discouraging discussions on the practice of
VSA as a method from happening. I guess you might say people were debating over which piece was most important, rather than playing the chess match
I think you have a good point: there is no one best method of trading, but there is a best method for you. This point (and several others) was made in the Market Wizards and New Market Wizards books. Nearly everyone traded the markets in different ways, and were quite successful.
Eiger