any spring rains - ha , page-18

Yep.

I understand that however I think that the term and the concept is somewhat misleading the way it is used through the VSA dogma.

And I have sussed it out and thought about VSA however something tells me that its a bastardisation of economics, business finance and a few other actual business fields.

Yes large traders are involved but so are small traders.

If you buy at the right time and sell at the right time then you are "smart money".

I think that the way it is used to explain a chart is a bit misleading Adsy.

If you want to believe in that philosophy thats fine but after thinking about it and researching it I reckon theres a bit of snake oil involved here for Tom Williams and his cohorts to sell you a software program to help you out of the confusion created by the whole VSA system.

The view that "smart money" are out to get the "herd" is a fundamental concept that allows the VSA system of thought to work.

I think its preferable to get rid of this thinking and see it all for what it is.

Yes there are those that have more capital, yes these people trade in larger quantities and therefore may affect things in their activities more than a smaller holder and it may well be that as a smaller holder you should work out what they are trying to do.

I believe though this is not possible by looking at the volume, spread and close of the data.

It is not possible for you to discern what volume is smaller holders to those of larger holders except maybe by looking at the parcel size and that data is difficult to compile.

Daily trades are anonymous and do not come with an identifier tag, certainly not one that tells you if the owner is smart or dumb.

That is why in the VSA philosophy you have to wait for "confirmation"...

Ie. This has happened but we really need to see what happens tomorrow or the day after to be sure...