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Any Volume spread analysis / Wyckoff traders?
em
Negociantes Experientes
Nov 28, 2013 at 18:19
Yes, I was giving some kind of examples, you are right, its stop loss hunting is not related to those recent news. However I really think it exists. What do you think?
Any Volume spread analysis / Wyckoff traders?
em
Negociantes Experientes
Nov 28, 2013 at 18:06
Here is an article with more details of the instant chat messages between the pro traders:http://www.bloomberg.com/news/2013-11-28/trader-messages-scrutinized-as-ubs-bans-chats-among-firms.html
Any Volume spread analysis / Wyckoff traders?
em
Negociantes Experientes
Nov 28, 2013 at 17:59
Yes, the pair really doesn't matter, you can be successful trading any pair (or pairs) you want. It's interesting, every pair is the same but different at the same time. I mean, every pair (every market) moves because of the law of supply and demand. That's it. But at the same time, every pair (every market) reacts different (I mean more quiertly or wildly) when the imbalances of supply/demand occurs.
Any Volume spread analysis / Wyckoff traders?
em
Negociantes Experientes
Nov 28, 2013 at 17:52
Hmmm haven't think deep of this honestly, I believe non liquid instruments are manipulated more easly. EURUSD is like the center of attention of a lot of big-money-bank-traders, they usually need to act together to make a more dramatic manipulative move in those high liquidity instruments, which we would think its difficult as many of them are really in competition to each other (traders from Goldman Sachs vs traders from other banks vs traders from other hedge funds, etc) but the reality is that they act together, seems like they objective is to take money from the retail-uninformed trade...
Any Volume spread analysis / Wyckoff traders?
em
Negociantes Experientes
Nov 28, 2013 at 17:40
Hello my friend!Volume spread analysis / Wyckoff methods work in every free market as long as you can get volume (or reliable tick volume data for currencies). I've been focusing-only on GBPJPY for 2 years now (I do -watch- other related pairs like GBPUSD, USDJPY and of course EURUSD) after reading some article (I don't remember where ) about how the different instuments in the financial markets would behave different, all having different personalities and "usual" moves. Befor that, I was trading like 10 different pairs, getting all crazy with my watchlist and for many years...
Any Volume spread analysis / Wyckoff traders?
em
Negociantes Experientes
Nov 28, 2013 at 14:32
BTW, couldnt catch that opportunity because of my timezone. I was sleeping :-(
Any Volume spread analysis / Wyckoff traders?
em
Negociantes Experientes
Nov 28, 2013 at 14:26
Wyckoff's laws are a must to understand how markets work.
Any Volume spread analysis / Wyckoff traders?
em
Negociantes Experientes
Nov 28, 2013 at 14:24
Volume spread analysis and Wyckoff explain the London sesion's price action.
Any Volume spread analysis / Wyckoff traders?
em
Negociantes Experientes
Nov 27, 2013 at 15:25
This are examples of more fake breaks and true breaks. You can spot if they are true or fake by looking at the volume and the price action that comes with it.Maybe I will buy this thing if it pulls back on low volume to the broken level.
Any Volume spread analysis / Wyckoff traders?
em
Negociantes Experientes
Nov 27, 2013 at 14:01
I don't like to post hindsight analysis in forums, but I think its a good learning experience. So here it goes:Yesterday "they" shaked out weak holders, and today we already broke thru all tops. I could not trade these breaks because I was sleeping (I live in America), but in hindsight (for what is worth) the break of the first top was a "buying opportunity". Basically increasing volume on the break and a low volume test of the broken level (also a nice no supply bar barealy touching that level). This pattern repeats over and over again!I pretend to use this thread for...
Any Volume spread analysis / Wyckoff traders?
em
Negociantes Experientes
Nov 27, 2013 at 13:48
Remember, "shakeouts" happen for a reason. If someone is shaking out weak holders (like I was shaken out yesterday, lol) it's because they have already bought at the bottom, they want to re-accumulate buy orders by forcing the retail traders to cover (and buy from them!). They know where the stop losses are and they will get em. Smart Money/Professional Money manipulations are a reality.
Any Volume spread analysis / Wyckoff traders?
em
Negociantes Experientes
Nov 26, 2013 at 23:24
Here is the from-book-definition of a shakeout.
Any Volume spread analysis / Wyckoff traders?
em
Negociantes Experientes
Nov 26, 2013 at 23:16
Thanks for the kind words my friend. I surely will stick to it, I have still so much to learn, and always will, but its like an addiction to be improving.Yes, I don't trade everyday, I do watch 5min price action every day but I open just 1 or 2 positions per week in average.Regards
Any Volume spread analysis / Wyckoff traders?
em
Negociantes Experientes
Nov 26, 2013 at 23:02
This are called shakeouts, they are maneuver done by Professional Money to catch stop losses and to shake weak traders out of positions and force them to cover. They tend to drive prices down and then before the close dive them back up rapidly generating volume spikes.Btw, I was caught earlier this day in one of those, lol.
Any Volume spread analysis / Wyckoff traders?
em
Negociantes Experientes
Nov 26, 2013 at 22:53
I really appreciate this, thanks for the answer. Yes you are right, a good scapler/day trader would have closed his/her position at top of the range. I should have explained earlier in this thread (my apologies) but here it goes:I don't consider myself a scalper nor daytrader. You could say that I tend to do more swing trades but what I consider myself its just a speculator. With this in mind, I follow what conventional trading call "trends", I (and other VSA/ Wyckoff traders) call this market flow. Let me explain it a little bit: If I spot what in my opinion is strenght in the b...
Any Volume spread analysis / Wyckoff traders?
em
Negociantes Experientes
Nov 26, 2013 at 20:23
Exactly that what I said, it was my mistake, the methodology was correct :-) But I don't get this part "you forgot what the market was doing while it's clear on your Timeframe. " What was the thing I forgot? Can you tell me? What the market was doing? Waiting for your answer. => Look at the chart now, After the 2nd fake break (hunting for stops) the price went up (and it's up right now). So, as you can see, VSA / Wyckoff is a sound methodology, the methodology wasn't wrong, I was wrong in putting the SL at breakeven too early, I was caught in a typical Stop Loss hu...
Any Volume spread analysis / Wyckoff traders?
em
Negociantes Experientes
Nov 26, 2013 at 18:42
@Thalantas Im watching the documentary right now, it's really eye opener, thanks for sharing it again!! :-)
Any Volume spread analysis / Wyckoff traders?
em
Negociantes Experientes
Nov 26, 2013 at 18:18
@felotus That's what I was saying, the method works, the rest depends on you.
Any Volume spread analysis / Wyckoff traders?
em
Negociantes Experientes
Nov 26, 2013 at 18:16
By the way, my stop loss got hit at breakeven point, another fake break and there she goes.
Any Volume spread analysis / Wyckoff traders?
em
Negociantes Experientes
Nov 26, 2013 at 17:50
Hmmmmm, I guess that as sad as it sounds, theres no money in curing cancer, its like the flu, how many companies are gaining money making medicines for a little flu, if there was no more flu, there would not be more medicine. Its sad but true.
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