yeah the whole VSA is way over the top and im not giving up my hard earnt price action skills. Im just taking basic principles like ID buying and selling based on volume, Paths of least resistance etc and applying it to my what i know about price action. Im keeping it simple.
Im not sure at moment if its something im going to keep long term. But i am fascinated by the volume and extra detail its giving me to underlying forces and speed which it allows me tell whats happening.
But i totally agree what you say about seen suppy and demand and how the price interacts with these areas via a standard candle stick chart.
But my approach with this volume stuff
1) keep it simple and take basic principles from VSA. (not interest in all the patterns VSA has)
2) Apply it to my price action.
3) Does it add or subtract anything from analysis.
Just using 2 basic principles from VSA, my experience so far is im pretty impressed i must say. Let you know how i get on with it and my conculsions.
I will post my research here things i discover along the way.
Jalarupa wrote:I have a mate who trades the patented VSA method and he's making good money using it (Well he better, they pay enough for that system of theirs)... I just hate talking markets with him, because all I hear is volume this and volume that... doesn't compute...
I played around with the better volume indi and even placed it on a PNF chart and got some interesting but mixed results...
From what I can remmeber in our conversations together is he looks for big moves backed up by low volume or periods of extended low volume after a large volume period and he says it shows him where the pro's are loading up and off loading...
But you can see that on a candle chart I keep telling him... :lol