[herkfsu]

I have been reading about VSA for hours and hours over the past few days. Sometimes it appears like I got it then I get thrown something that doesn't quite gel with my thinking. Sometimes it appears the charts that get posted as examples perfect only in hindsight. Or at least from my thinking, which hopefully I get fixed. Anyways lets start from the beginning.

The main thing in VSA is looking for large amount of volume in a "short" period of time. It is showing the pros are active in either buying or selling. I know the first item to look for when using VSA is a wide range bar on ultra high volume. I will ask some questions, but depending on the answer I will ask more questions, so to start:

The questions pertain to this situation

In a downtrend if you see a bullish WRB on ultra high volume that closes near its top, you are assuming the smart money is buying correct? Does it matter if it is a doji or solid bar? I know VSA is only concerned with where the bar closes, so I wouldn't think it should matter. If you are assuming smart money is buying are you only looking for no supply bars and tests to the downside? Do no supply bars HAVE to be down bars(i know they have to be low volume)? Do tests HAVE to close at the middle to top of the bar? If the test bar closes at the top of the bar, but has high volume VSA would state it is a failed test, but I do not understand why. It would appear plenty of buying in coming in for the bar to finish at the top of its range. When would be the best place to go long? On the close of the no supply bar or should you always wait for a test bar?

Now assume in a downtrend you have a bearish WRB on ultra high volume that closes near its bottom. Does this assume smart money is selling? Say the bar closes about 1/3 off the bottom. Are we then assuming smart money is buying and now we are waiting for a no supply bar?

What situation would tell us to go short after a bearish WRB in a down trend? I am guessing the bar would have to finish on its lows and we would then have to see a no demand bar.

I am assuming the opposite is true for all cases in an uptrend.

AIM and yahoo messenger is fsufootball42 if anyone wants to learn with me.

Thank you in advance for all the help!

[Eiger]

Hi,

A few comments: The main thing about VSA is not looking for high volume in a short period of time. The main thing about VSA is developing an understanding of the charts by volume, bar spreads, and closes. Rather than read all the posts on this forum, it would be much more prudent for you to start with the book Tom Williams wrote in the mid 1990s. A free version of this is available on the tradeguider site. A link is posted on the VSA forum.

All of the questions you are asking and many more are addressed in this book. Once you have read that and have a better understanding of what VSA is all about, you will then find it useful to review the threads on this forum to see how traders apply the method.

Hope this helps,

Eiger

[herkfsu]

Well could someone push me in the right direction about the specific questions I asked? It would really shape my understanding and I would be able to follow the book much better. I have started the ebook(its long though). Thank you for your help.

[brownsfan019]

Originally Posted by herkfsu »

I have been reading about VSA for hours and hours over the past few days.

I know nothing about VSA but I am going to go out on a limb and say ANY method you may be looking at will take months and months and then years and years to master, esp VSA. Hours is just the tip of the iceberg.

Good luck!

[sevensa]

Originally Posted by brownsfan019 »

I know nothing about VSA but I am going to go out on a limb and say ANY method you may be looking at will take months and months and then years and years to master, esp VSA. Hours is just the tip of the iceberg.

Good luck!

And that is why most people give up. Very few is willing to put in the hours and most is looking to plug an indicator on a chart and mindlessly buy when it turns green and sell when it turn red. I'm too embarrassed to say how much time I have wasted looking for an indicator like that before I realized I am not going to find it.

[sevensa]

Originally Posted by herkfsu »

Well could someone push me in the right direction about the specific questions I asked? It would really shape my understanding and I would be able to follow the book much better. I have started the ebook(its long though). Thank you for your help.

I thought Eiger already pushed you in the right direction by telling you to read the book? Your questions are answered there. Do you really expect people here to give you answers because you are too lazy to read the book?

You said you have spent some hours over the past few days, did not finish the book and appears to think that this should be enough to be successful now. How many professions do you know where you can be successful after a few days and by asking your coworkers to help you with things covered during orientation because you walked out halfway?

[herkfsu]

I have read through about 100 pages of the ebook. And about 20 pages of the VSA Part I forum. Its much easier to get things cleared up as you are going. I am getting mixed ideas about, what I feel is a huge part of VSA. Getting the first part down pat makes it a lot easier to associate it with the next part.

I thought asking others was part of the learning process. I guess I am not "worthy" enough yet.

Just let the thread fall if you do not want to help me. I know it takes time to learn. If I don't put in the time I wont learn simple as that. Putting me down because I haven't spent as much time on VSA as some does nothing.

So if someone can help me with some of the questions I had in the first post I would be very happy to hear it. Thanks.

[brownsfan019]

Originally Posted by herkfsu »

I have read through about 100 pages of the ebook. And about 20 pages of the VSA Part I forum. Its much easier to get things cleared up as you are going. I am getting mixed ideas about, what I feel is a huge part of VSA. Getting the first part down pat makes it a lot easier to associate it with the next part.

I thought asking others was part of the learning process. I guess I am not "worthy" enough yet.

Just let the thread fall if you do not want to help me. I know it takes time to learn. If I don't put in the time I wont learn simple as that. Putting me down because I haven't spent as much time on VSA as some does nothing.

So if someone can help me with some of the questions I had in the first post I would be very happy to hear it. Thanks.

I was not putting you down if that was directed to me. I was however just alerting you to the fact that this business takes years to conquer and your post mentioned working 'hours' at it. I was simply giving you some advice from someone that has been there that it takes more time than most anticipate, myself included.