Futures - Pure Price and volume based trading

Bigbear

Well-Known Member
#1
Hi guys,

I guess we did not have such topics where only price and volume is involved to make decisions and trade.
[ Sounds Simple & hilarious But works wonders! If you doubt it , just follow the thread for a while :D]
And just so you know, All the indicators are based on price and volume. Indicators are made for people to think that they have an edge in the market![ Atleast i think so :D]

To understand how i trade using this method,
A brief reading of one of these books is helpful.
Master the markets by Tom Williams[ 2nd Edition of Undeclared secrets of VSA]
or
Undeclared secrets of Volume spread analysis by Tom Williams .

A similar study had been done extensively by karthinkmarar in traderji itself.
I don't want to discuss/teach the methods fully , because everything is beautifully explained in that thread and in the books above.
But if you have read these books, im open to discussion and i encourage people to post their analysis of price action alone or with volume here! It will be a learning to us all simultaneously.

Applying VSA to the middle of the chart and interpreting is very easy , But doing it on the right side of the chart is challenging.

Even though i consider trading as game of probabilities,BUT to give you an EDGE in the market, we do this analysis.

Since i am trying to make a complete trading system . There are many things to look into.

Trading legends such as Richard Wyckoff, Jesse Livermore, Nicolas Darvas and William O'Neil to name a few all have utilized Price and Volume techniques to help amass their fortunes.

Quotes i follow from different authors/people/forums.
"Know that anything can happen. None of the methods including VSA is holygrail."
"Big money does not make big bets. Keep your bet/Risk size low. "

"It's not whether you are right or wrong that is important. But how much you make when you are right and how much lose when you are wrong that is important. This is what defines your success".
"Trade what you see, Not what you think"


Basic Things to follow Before trading this method

0. Money management, Positiong sizing, Discipline , Stop Loss is the Holy grail
1. If the reason for the entry no longer exists, you exit.
2. Trailing stop loss is better But You will always know when to exit using this method :):clap:
3. Strict money management - Read Alexander elders book.
My risk appetite 0.5% per trade. 2% Risk per day. [ i sometimes risk lesser than 0.5% i always look for breakeven]
4. Practicing one single method makes you perfect over time.
5. Controlling the Emotions. [ Not eliminating ] When you get confidence with your system, you need not control your emotions.:D

You can do any type of trading using this method - daytrading,swing trading,medium term trading . It depends on your TF.

my suitable TF is day trading And sometimes Swingtrading .
Even in day trading you can use this method in trading in a consolidation area or in breakouts.

I will be trading only in high risk reward ratio trades.

I am thankful for people in this forum who are always supporting . I do not want to name some but want to thank everybody.

I started trading in Nifty & BankNifty. And in stocks which are present in F&O. cheers!

Disclaimer - Any opinions presented in the thread are to encourage discussion. They should not in any way be interpreted as tips or advise for trading or investment.
 
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Bigbear

Well-Known Member
#5
Sometimes we have bad days . But we could have traded the range here.. Ie consolidation. But since i usually trade breakouts . I had a bad day.
 

deadbrain

Well-Known Member
#6
i love daytrading but so far only used different strategies including scalping, breakouts, and sometimes visually when seeing buyers-sellers, etc., but your chart system has impressed me, could you please tell me which daytrading charts do you use and what settings?
 

Bigbear

Well-Known Member
#7
Dear DeadBrain,
I currently use icharts.com to daytrade. I have subscribed to their premium service. Data is quite accurate.
I use 1min-5min-30min charts.But entry and exit in 1min charts.
I use only price and volume but the charting software provides most of the famous indicators you need to trade.

I am not promoting the software but giving you information.
 

EagleOne

Well-Known Member
#8
Great going, BB. Tom Williams would surely be happy to have an intelligent follower.
Good luck, buddy. :)
 

deadbrain

Well-Known Member
#9
I've a query? IIFL TT has charts too? Are they worthless or they can be used as well with same settings?
 

Bigbear

Well-Known Member
#10
Hi deadbrain ,

I have not used IIFL TT . So i wont be able to comment on it.
 

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