Tuesday 18th January

by 23:59 3 comments
Today was a great day! Had my first successful trade of the year. Didn't gain my 3% but still made a bit of profit. Entered a short on Cable and made 11 pips (out of a 64 pip target). Doesn't sound like much admittedly but i'm happy nonetheless! I got out according to the 5min chart which is kinda against my strategy. Funny thing is i was right to get out short term but some more selling came in as highlighted in the chart so I should have probably stayed in. Could've re entered the trade as highlighted on the 20min. But didn't! A lot learned from today that's for sure!

Trade 2 - Cable (GBP/USD) - Sell @ 1.6002 -  Closed @ 1.5991 = +11

Cable 1hr

Cable 20min

As well as this trade there was another opportunity on Eddie later on in the day. Unfortunately I thought about taking the trade for far too long and ended up missing it as it moved about 30pips in 5mins! It probably would've been more of a scalp but from my entry price it moved around 30pips. Charts below;

Eddie 1hr

Eddie 20min

That's it for today,





28. Forex. Trading. Music. Beer. Food. Travel.


  1. Hey, I just discovered your blog, and I'm very impressed with what you've done so far. I too believe that analyzing volume is the key in trading. I have read Tom Williams' book "Mastering the Markets" and it makes a lot of sense. What should be the next step I should take on my path to trading (I have never traded the markets before)? I feel that Williams' book is great for the basics/fundamentals, but I still need material to learn/practice the mechanics of trading. I went to the TradeGuider website and I saw them offering various memberships which include access to a 16-hour modular educational course which, in their words, is "all you need to become a competent VSA Trader". Do you think the course would be a worthwhile investment?


  2. Hi Bay,

    Firstly, thanks for taking the time to look at the blog and for leaving a comment.

    If you've never traded before it may be worth sticking to the basics for a little longer. babypips.com have a great educational section that'll get you in the know for all trading terms etc. You won't find much if anything about VSA there but it's a good foundation.

    Another tip would be to keep reading "Master the Markets", many people I know trading VSA have read it countless times and keep referring back to it.

    For more VSA orientated stuff there's a thread entitled "vsa with Malcolm" over at ForexFactory.com. A lot of very good traders in that thread and always willing to help people learn. If you can register on there and start asking a few questions you'll be welcome.

    Seeing as you haven't traded before it's a must that you start paper trading or trading with a demo account first. There are loads of demo accounts but if you head over to here - http://www.alpari.co.uk/en/trading_accounts/open_demo_account.html you can open a free demo account with whatever balance you want and you can get free volume via that program. This would be a great place to start to work on a strategy and start looking at VSA set ups.

    As for the TradeGuider course it probably is worth the money but i'd say see how much free information you can find online first. Build up your knowledge that way before deciding to pay big money on courses.

    Hope all this helps, keep in touch and let me know how you're getting on. I'm on ForexFactory under the name "KinsaleForex"



  3. Hey Liam,
    thanks for the comment on my blog the other day.
    yes I'm doing great, just this week has been a little more "range".
    and how about you? do you trade just VSA?
    I saw that you use TradeGuider, I was thinking in the future invest in some software to trade vsa ...

    see you