ok its getting late so im off to bed but tomarrow ill start with End of a rising market...tell then , best regards, John
Many thanks for the link. It seems quite an involved prodedure to get it to play videos! Maybe I'll get round to using it one day too!
Thanks John for clarifying the daily range information and the advice. I found malcomb's thread so that should keep me busy. I like the organized step by step approach you are taking it really helps with all this information.
What is the E/U ? Is it the future for EURUSD?
Is there a glossary of terms used e.g. UH? Should I have read something before joining this thread?
UH is for (U)ltra (H)igh volume :-)
We are applying VSA (Volume Spread Analysis). There is a book "Master the Market" from Tom Williams about VSA, and although we start to explain how to use VSA from the very beginning, it could be good to read it, but you can ask in the thread anyway if there are terms you don't understand.
Doh! Of course :-) Thanks. This is a new concept to me. I always wondered why people said one should do the opposite to what comes naturally when placing trades, I never really understood that until now. I wondered why my trades kept turning against me and didn't like the feelings of paranoia and frustration or the feeling that my office was bugged, that came with it. Now I know I'm not paranoid; they really ARE out to get me!
After reading MTM for the second time i am now wondering if there are formulas floating around to determine what the VOL, SPREAD and CLOSE(Mid, High,Low) are. (Instead of just looking and guessing)(and instead of dropping 3k a year for tradeguider. I guess there are some free custom indicators for mt4 around but to figure out manually helps to understand plus eliminates having to use an mt4 brokers etc.
for example. I would think to figure out the volume you would take the avg volume for a certain period (not sure how far back) and divide by the current vol on the last bar to get a percentage. Is there is a standard conversion for the resulting percentage to say the volume is high, extremely high, low etc, Obviously a result of .5 would indicate avg vol. but what would the high volume be? 1? 1.5 etc. Low vol? .4, .2 ..... some of the vol indicators i see have an avg vol line but still you are just estimating if it is high, avg, very high....for example avg vol 10,000 last var vol 15000...15000/10000=1.5
would 1.5 be high very high etc.
The same would apply to spread, I would think (correct me if i'm off track) you could divide the last bar's spread by the ATR for a certain past period. That would give that last bar's relative spread in a percentage. Again .5 would be avg spread, but what result would be wide or narrow? for example say ATR is 100, last bar's spread is 105. 105/100=1.05. would 1.05 be wide, very wide etc.
Same for the close, Mid, upper lower. I guess you can just look at the bar and guess its mid close upper etc lower but it would be nice to have an exact percentage to indicate if its upper or lower.
It seems if these three are understood it would be a good start to understanding VSA
apologizes from john
hey guys...just wanted yall to know im still around...been so busy working ....drive 3 hrs commute to and from work and 10 hr days at work...by the time i get home i get about an hour on the charts and then im asleep..BUT i have got some great stuff to post...been doing huge amounts of reasearch...took two weeks just gather everything i could find on "End of a rising market"...i think it best if i try to put a little bit up each day then try to do it all in a night! just arent enough hours in the day...ill try that this week and see how it works...again im sorry about the absense, have to earn a living though...the good thing is every day i have to stand out in the hot texas sun (103 dgrees today) the more im sure i want to be a trader!!LOL...best regards, john
sorry sybertore...i dont know the answer to your question but i do like the question...please research it and post your findings...if not ill do my best to see what i can find..regards, john