I generally day trade (hour trade) the blue chips using CFDs and apply VSA principles on the intraday charts. Prior to using VSA I would never had the confidence to trade CFDs or short stock. It has revolutionized my trading/investing. It has enabled me to make logical and better (more profitable) trading decisions. My major concern now is not picking direction but proper money/risk management/stop losses etc. Being able to pick direction consistently on a chart is only one aspect to being able to trade successfully. Of course, if you are investing longer term then FA is important but you can still pick better entries by avoiding getting in on the hype and obvious areas of weakness and knowing when its time to get out of town when it looks like its going up but you can plainly see its being sold into heavily. Also, with VSA we look at RELATIVE volume. That is volume relative to the surrounding bars and in particular the last 3 bars. The actual AMOUNT of volume is not so important - only obvious changes in activity. Also we don't enter trades on the basis of any single VSA indicator - we enter on a sequence of 3 of which abnormal volume is the first and really really light volume is often times the last. So whatever new dynamic a company might go through, it will still give us a clue to direction with its new "groove." So with NAV we don't have an entry yet - no combination - and if it has changed its dynamic it will still alert us in the volume to professional activity or lack of - so we are not deciding anything yet with NAV(as a trader) - but watching for our VSA principles if and when they appear.
Also - you can go to youtube and watch the "Tradeguider" videos. You will learn a lot more from those than just reading. If after seeing those you want more then you might like to visit the Tradeguider website and consider joining the VSA club. Its not free but worth the investment even if you just try it for a month and that gives you access to all their webinars past and present where often times they will be trading live. Mitta, Funkymonk, Jako, Toll are also VSA users so you may like to read their posts as well - Mitta and Funky are long time users while jako and myself have been using more recently. So if I slur in my videos thats why.
