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The S&P Chronicles - An Amalgamation of Wyckoff, VSA and Price Action
@Linds you're a little late to the lynching. That was like 2 weeks ago. @TheTradeSlinger has been there, done that, got the t-shirt. The consensus is that people want feibel to keep posting because of the clear concise manner he discusses vsa principles.
I don't want to touch any of the issues here, and certainly not to be pro or con, except to say this much:
1. This is clearly completely hindsight analysis. There can be value in that, and you also should never confuse it with a trade journal, or believe that anything marked on charts in hindsight represents anything that can be done in real life. No matter what the methodology, application will never be perfect, and any method can be made to look good while looking backwards.
2. I do not see where the claim has been made that this is any kind of realistic account of trading. There have been people who have come to this forum over time and who have made such a claim, and they have been, properly, challenged and sometimes thrown off. I haven't been following the thread closely, but I haven't seen it made explicitly. (Yes, the offhand comment about what to do if your normal trade is 50 did make me laugh. The only trading here is sim trading, if that.)
The same can be said of people who write books. Do any of them trade? No way to tell. But they can be (sometimes) helpful.
The people who come here for VSA seem to like it, and many of them do have real journals and do trade, sim or live, and seem to have gotten something from it. So, unless @Big Mike or @sam028 object, I suggest a live-and-let-live philosophy.
I honestly don't know if there is anything to VSA -- there certainly might be, or it may be just another of those things that just look good in hindsight -- but if someone wants to expound on it, and if he isn't trying to sell something, I personally don't see a problem with him doing it.
Wyckoff and VSA principles at play in today's action:
Effort vs. Result
No supply (setup)
Trend Trading (setups x 2- weak pullbacks in an uptrend) Reverse use of Trend Line
Structure
Overbought and Oversold conditions
Testing Action
i think Feibel's market analytical narratives are not just hindsight review. We all understand that this is hindsight analysis.
The most important thing is that he is trying to answer WHY he took a trade. He explains to us using what thinking process should be behind the IDEAL Wyckoff's/ VSA method. It is not real, but theoretical or ideal process, process that we have to work to achieve, end goal. It actually I think almost impossible to do in real trading. Traiding is too fast on ES especially. His work is not like your guys daily trading diaries, where you analyse your mistakes. No. He shows how ideally one should think and trade based this method. It is all together Amalgamation. There are no indicators that are perfect. I use diversions. A lot of times it works, but sometimes it does not. Frankly i start realising that these indicators are just huge delusion and distraction.
All in all, I encourage @Feibel to start his own journal here on elite section. I think it would be quite a big hit. If not, please keep posting. I suspect these reviews help you in your trading. And for sure it is great material for most of us. I will read Weise's book second time after this Friday's maket action. It is mind-blowing volatility, isn't it? Stops/targets, any theory and skills/results in simulation - nothing will work, nothing is easy to execute in real traiding, unless you willing to go through big loses.
That is fine.
But it is clearly presented as a record of his trading.
There is profound level of dishonesty and questionable intent in that, unless I have missed a statement from F to the contrary.
If so - then I apologise and would be happy to be directed to it.
Thank you Olgrim, for the most part you have nailed more or less the intent of the Chronicles, the thinking process behind the trade setups, set within the realms of Wyckoff, VSA and Price Action (along with many of my own insights) that highlight the core principles/concepts.
Right from the get go (post #1) it states ‘’ I wanted a thread that gives an insight into one man’s process’’. The trading found within Chronicles is my process and is how I trade. It is not impossible to trade in this manner, as I trade in this way on the ES and other instruments virtually every day.
Trading is an usual profession as it is performance related, every day we enter the arena, every day we stand up to the plate ready to swing, we have to be at our best; our peak, day in day out, and this is incredibly hard to maintain. Even professional athletes do not endure the mental toughness and preparation that us; as traders must undergo. Although similar to athletes, we have a tool at our disposal, and that is practice; traders/athletes are as only good as their practice. I practice for 2 hrs more or less every day before the market opens; it keeps my chart reading ability sharp. At weekends if there are any weaknesses that have been highlighted during the previous week’s trading, I will enforce measures/steps to ensure this weakness is turned into a strength, usually implemented into the practice before the market opens, this process will continue until I feel satisfied and seen progression within the live environment. At this stage of my trading career, I do not need to practice concepts/principles, as these have been firmly cemented into muscle memory (jump out clear as day)
In the early days for example, practice would consist of studying the market bar by bar for major bottoms/turns in the market that are formed out of climatic conditions, becoming way oversold in a downtrend channel (dependent of timeframe) or perhaps studying the first pullback bar by bar after a new momentum high/low, I would repeat this process literally 100’s of times until I can trade the setup comfortably. Although the market produces a slight variation/different flavour of a principle, there really aren’t that many variations. From a personal perspective I used to relish failed trades, as it would highlight a potential weakness; turning the weakness into strength comes growth, I believe this mindset has helped my personal development as a trader.
Understanding that trading is highly psychological and can often lead to the ‘’monkey mind’’ I found a mental practice that has helped my trading second to none – and this comes in the form of meditation, to be specific I am student of an ancient Buddhist technique ‘’Vipassana’’. It’s a form of insight meditation that vastly improves concentration and clarity of the mind. The direct translation of Vipassana is ‘’to see things as they really are’’. I have meditated for countless hours and frequented many 10 day retreats. Considering the amount of practice and time I have put into working on my craft as a trader, is it really inconceivable that I am able to read and interpret a 5m bar live as it unfolds? During my early years, once I became proficient in understanding the concepts/principles along with the setups and conditions in how they come to pass, I used to practice and then began to trade via a 30 second chart for a few weeks, before moving onto a 1, 2 and 3 minute chart. The 5m chart has been used as my main vehicle for a few years as it has less noise, although from time to time I still practice on a 30 second chart to keep my chart reading skills very nimble. Traders are as only as good as their practice, and I must emphasize one must not go through the motions, it must be challenging, we have to be on the cutting edge of our ability to induce growth.
Of course these actions may appear extreme, nonetheless this is my reality, and I am firm believer in the quality of practice, in both the mind and the charts. This is my profession, I have stated that it is of the upmost importance to be become the best version of yourself; and this is how my practice has been constructed, to extract my potential, to keep on growing. As humans I believe that every person has unlimited potential, and when you gain confidence in your ability (belief) you tap more into your potential, this leads to taking more action (practice) as you take more action, you get better results (live environment) better results creates more belief, and so the process continues. The real question remains; how do you, spend your time? Only you, know the amount of effort and time, you put into becoming the best version of yourself.
It was never my intention to share so much of my personal journey with others, yet due to the influx of emails, I felt it was necessary to unravel a few personal processes, although it’s very humbling to have had such support, thank you very much. The Chronicles will return this week, for those who find the Chronicles of interest. From here on now I would like to solely focus on producing content that will hopefully help others
Thank you very much for sharing your personal journey and glad to hear that meditation has helped you to become the trader you want. Your chronicles always inspire me and the details you put, i believe its possible to do trading the way you describe, and I would say your chronicles added clarity to my trading and my view of the markets. Thanks and Keep going...
I'm glad you were able to pimp out your email again with this post as with at the bottom of each of your pdf's in order to sell to unsuspecting new traders.
You're the pot calling the kettle black. Thanks for being our long lost savior...now quit trolling, see your way out, and get back to your joke of a thread....Kewltech.
