trading ES with tradeguider

Mobile

Newbie
2 0
Hi,

I'm thinking of buying a charting software called tradeguider. from tradeguider.com. it is based on Volume Spread Analysis (VSA). I will be using it to trade the ES mini S&P, intra day.

Are there any existing users that are using for intra day? and what are there experiences? It going to cost $2000.00 to buy out right.
 

rog1111

Established member
673 10
mobile

I have met Tom Williams in 2000, and have had some experience with the old VSA5 (still the best version IMO) & VSA7. They were rather "buggy" and craftily (or accidentally) deleted green/red SOS/SOW indicators that turned out to be wrong !! Therefore the indicators on the charts always looked GREAT in retrospect ! The magazine that did that positive review didn't even pick this up !

However, having said this, I do believe there is some validity in their volume/spread methods, and Tom's philosophy of the markets makes good sense to me. Better for Shorts than Longs also IMO. I only tried the EOD version, and traded live with it. I couldn't get the intraday trial run set up with omniview etc - all very messy. However, maybe the latest offering is a whole lot better ? I'd be very interested to hear your opinions if you do go for it. If I were trying intraday, I'd use it for Nasdaq or index futures on 1 minute charts, rather than for stocks.

I still have details list of my old EOD trades (stocks). One thing that I found was that I would have been much more successful if I'd only gone into a trade on a stop order if the previous hi/lo was broken. At the time I just used market on open.

GL
rog1111
 

Mobile

Newbie
2 0
Hi rog1111,

Thanks for your infor. just a few more questions. Were u just using tradequider for signal or other popular TA indicators? How successful were u ? i.e win/loss ratio. Was it easy to interpret the signal at the far adge of the chart? They have advised me that the integrated tradeguider version for intraday will be available in three time. I will ask for a trial period.

Thanks and regards
Trevor
 

rog1111

Established member
673 10
mobile

I was using VSA5 & VSA7. Quite similar to tradeguider I believe, except that some of the arrows have now become bars. I was using the EOD version for US stocks, and getting my data from Stockwiz.com.

I am not sure what you mean by the "signal at the far end of the chart". It's a while since I used the program. Is that the one they call the "heat indicator" which goes up & down like a thermometer, either red or green or somewhere in the middle ? If so, I didn't use it. All I used were the red & green arrows on the chart itself, and also to a lesser degree the red/green bars. It may have been different then because with VSA5 most of the red & green arrows used to be issued when the CURRENT bar was finished. However, with VSA7 I noticed that many arrows were only issued for the PREVIOUS bar, which I didn't like. I presume that Tradeguider does the latter ?

I paper traded the system (VSA5) for 2 months. The result was Shorts - 90% wins, longs - 50% wins. Average winner - 2.0%, average loser - 1.4%. At the time the market was going down. Then I traded for real for 4 months, just as the market started going up again. Result was Longs - 75% wins, shorts - 50% wins. However, the average winner & loser weren't as good as before & I ended up all square, which was mainly my fault, as I didn't control my risk very well at this time, and had I used better entry & exit strategies & risk management I would have done a lot better.

At this time I stopped using VSA as some more fees were due, which I didn't want to pay. Also at that time I started day trading using other methods.

I think it is important not to count the number of winners versus losers, but rather the overall size of the winning $ versus losing $. Also to look very closely at your exit strategy and risk taken, not just your entry. VSA only really dos the former.

I think that Tom Williams runs some one day seminars in the UK where the software is demonstrated live.

Good luck
rog1111
 

philhackett

Active member
113 10
Hi

I suggest that you look at MT Predictor and Advanced Get which is an eSignal product. Most of the Elliott Wave traders who used the austarlian product now use that combination and are very content with it.

Phil

Mobile said:
Hi rog1111,

Thanks for your infor. just a few more questions. Were u just using tradequider for signal or other popular TA indicators? How successful were u ? i.e win/loss ratio. Was it easy to interpret the signal at the far adge of the chart? They have advised me that the integrated tradeguider version for intraday will be available in three time. I will ask for a trial period.

Thanks and regards
Trevor
 
 
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