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I flicked through 'Master the Markets' by Tom Williams and thought it contained some useful points but overall I think VSA is more suitable for stock traders. A lot of the concepts revolve around market makers and their ability to see what other traders cannot see (stops and limits) but this isn't applicable trading futures on exchanges like Globex, ECBOT, EUREX and Euronext. We can see the same things that everyone else can see through the time and sales and order book so it makes sense to concentrate on that information instead of just focussing on volume and price. |
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That is simply not the case. The text may seem "outdated" in that there much talk of Market Makers, but this only goes to show how the principles have stood the test of time. How the markets are manipulated by Smart Money (the term Todd Krueger prefers to Market Makers) remains little changed since the days of Wyckoff.
I find it hard to believe that you think there are not Professionals with things on their screen, like where the stops are, that the retail trader does not have. The playing field in simply not that level.
I have attached a chart showing what is going on in the Euro. A market (retail Spot Forex) not even around at the time the book.
