64eheh's -forget the crash - wednesday, page-39

Hi BiggDaddy,

I've noticed your recent interest in VSA. That's not a bad thing.

But, rather than trying to understand the VSA approach by picking up snippets along the way, I think it's best to push yourself to undertake a structured method for learning the approach.

The principles and applications have been well set out by Tom Williams and freely available on the net:

http://www.scribd.com/doc/20343678/Master-the-Markets-TOM-WILLIAMS



I'd suggest at least three readings. A quick first reading to get an overall picture of the approach, and pick up some of the principles.

Then take two slower, more in depth readings, to understand the nuances.

I think it's an approach that is difficult to understand in dribs and drabs from secondary sources.

I think an understanding of the VSA approach should be an essential component of every trader's arsenal of weapons.

Of course, after reading Tom Williams, you might come to the conclusion that it is the only weapon necessary to have in the arsenal. (As the VSA guys on this thread believe.) In which case, you'll put on the blinkers to endogenous events, begin using the jargon, and become a fully fledged member of the VSA Club.

At the beginning - you will find some difficulty in applying the principles. There is a certain subjectivity and necessary evaluative jugement required. With time it becomes second nature.

Personally, I believe it is a powerful way of looking at the market. Is it the Holy Grail? hmmmmm I think the VSA exponents think so.

Good luck
And enjoy the reading.

I won't be putting up a report today. Illness intervenes.

Redbacka

Redbacka