Bob Volman Price Action Scalping

This is a discussion on Bob Volman Price Action Scalping within the Forex forums, part of the Markets category; Originally Posted by june_girl7 I have tried to work on scalping with demo account but I think scalping is not ...

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Old Feb 1, 2018, 12:44am   #3961
Joined May 2012
Quote:
Originally Posted by june_girl7 View Post
I have tried to work on scalping with demo account but I think scalping is not for me. Any suggestion for good scalping?
Scalping is very difficult without knowing "how to" because of the time cycle, the mental discipline needed and the intensity that goes with it. Bob Volman's method uses 70 tick chart which approximate to a 30 sec time frame. The best book written IMO on scalping is by Lance Beggs which uses a 1 tick range that approximates to a 9 sec time frame. It is because the time cycles are so compressed, the trade decision process requires a set of conditions that are different from a higher time frame trading. For example, at the scalping level entries are about areas not triggers. In other words, trade decision is taken absent confirmation which can be uncomfortable for those that are used to trade confirmation for entry. Another example is that the chart has to be relatively clean because information overload tends to slow down decision making. As such a visual approach dominates.
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Last edited by Brumby; Feb 1, 2018 at 1:16am.
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Old Mar 5, 2018, 7:16am   #3962
 
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Hi everyone,

I specially register an account for this thread. Happy to know so many like minded people. I am starting to trade based on Bob Volman's methods and have read through a lot of your posts. It has been amazingly helpful. I will start to post some of my own contributions too soon.
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Old Mar 5, 2018, 3:41pm   #3963
 
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Joined Mar 2018
Click the image to open in full size.

Just capture a wonderful IRB for a profit of $300 for the day with 3 wins and 3 losses. Quite a good day.

Trade 1: -$33.00
Trade 2: +$133.39
Trade 3: -$11.88
Trade 4: -$50.18
Trade 5: +$132.02

Total: $302.34

Hope I can continue to improve and profit everyday.
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Old Mar 19, 2018, 11:35am   #3964
 
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Joined Aug 2017
Quote:
Originally Posted by Brumby View Post
Scalping is very difficult without knowing "how to" because of the time cycle, the mental discipline needed and the intensity that goes with it. Bob Volman's method uses 70 tick chart which approximate to a 30 sec time frame. The best book written IMO on scalping is by Lance Beggs which uses a 1 tick range that approximates to a 9 sec time frame. It is because the time cycles are so compressed, the trade decision process requires a set of conditions that are different from a higher time frame trading. For example, at the scalping level entries are about areas not triggers. In other words, trade decision is taken absent confirmation which can be uncomfortable for those that are used to trade confirmation for entry. Another example is that the chart has to be relatively clean because information overload tends to slow down decision making. As such a visual approach dominates.
Great insights Brumby thank you.

I left the scalping thing since its a bit hard to get proper work station. I now trade 5min. I understood Scalping is a next level trading. Because its faster and you need to have true mindset on that faster chart. Its easier to remain "zone" mindset on slower timeframes. Of course anyone can be succesful in scalping his first try but I believe it is easier to first be succesful and consistent on higher ones maybe then start scalping.
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Old Mar 20, 2018, 3:09am   #3965
Joined Apr 2016
So there is none good strategy suggestion for me in the answer. Everyone is saying the same scalping is difficult and other things which I have heard so many times.
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