Bob Volman Price Action Scalping

[BLS]

Week 23 charts from Volman:

https://www.dropbox.com/sh/1amxmi9af0fk6ej/VA5_ZrjQF1

 

[BLS]

Week 24 charts from Volman:

https://www.dropbox.com/sh/1amxmi9af0fk6ej/VA5_ZrjQF1

 

[Danie949]

thank you it's graphics are very useful to me !

 

[garageboyFUJI]

Hi
It's a long time no leaves a message.
I have studied this method about for 2 years.
I worry that I can't continue winning everyday.
However, I'm sometimes feel confidence that be fully able to expect profits.
I'd like to report the day performed well to Volman.
But, I was often disappointed greatly.
The percentage of victories is not stabilized now.
It's the better one with 40 percent.
Possibly, although this technique may be that I'm not suitable for me, I'll go for it.
I feel everyday that a deeper understanding and trading skills are improving.
More than it merely considers, it's stressful to have required time and effort.
Is there anyone of the same feeling ?

 

[keen246]

Hi garageboy,

I read the book twice and some parts more than that. I tried this method for some 3 months full time. I came to the conclusion that even though the method looks so nice on paper, it's really flaw in many ways. It would take a long explanation, but in summary, you need a deeper understanding of price movement and how market moves on the fast TFs. I don't know anybody (probed) that is profitable using Volman's approach, so go figure.

 

[ReinLudwig]

Volman's new Book

What is your point? is it good bad or you're just saying that to let us know?

Suan,

Since you have experience with both books, is it worth buying Bob's new book? When I originally worked with his first book, I never felt comfortable with his tick charts and the associated speed. It is intriguing that Bob seems to focus on the 5 min time frame as well. This would make his trading more appealing to me!

Thanks,
rein

 

[cha-ching]

Suan,

Since you have experience with both books, is it worth buying Bob's new book? When I originally worked with his first book, I never felt comfortable with his tick charts and the associated speed. It is intriguing that Bob seems to focus on the 5 min time frame as well. This would make his trading more appealing to me!

Thanks,
rein

I think it will be very difficult to trade EURUSD 5-min charts using Bob's method. TonyIommich once compiled statistics of number of trades during the 6-month period in Bob's second book. There weren't enough setup. Earlier this year (Week 14) Bob provided 5-min charts for three pairs (EURUSD, USDJPY and AUDUSD). The opportunities were scarce.

The book itself is worth reading. It helped me better understand the principles he laid out in his previous book, FPAS. In February I started trading the above mentioned three pairs using 200-tick charts (there is a whole chapter about trading in low volatility environment in UPA, the second book). Then starting in May I switched back to 70-tick for EURUSD but kept the 200-tick charts for the other two pairs. The 200-tick charts are very similar to the 70-tick charts, except that Bob used angular lines more often.

My opinion is if you know FPAS really well you don't need to buy UPA. If you don't, or if you trade other instrument and prefer the 5-minute timeframe, it can be helpful (ask TonyIommich who trades ES, 5-min charts). If you do trade forex and feel 70-tick is too fast, then you may try 200-tick as I did, and when you feel more comfortable with the speed you can come back to 70-tick.

 

[ReinLudwig]

Thank you so much!

I guess when it comes to 5 min charts I have always looked at Al Brooks as the leading expert. Unfortunately I found Al's books rather convoluted to read and not as clear as Bob's setups.

Appreciate your feedback.

Rein

 

[Fugazsy]

I am sure his method do work for him, he is has a lot of patience as a person, he will probably stare at the charts without taking any trades for hours, he has the ability to stay engaged with the market without having any trades..

Now for what I understand his forte are break outs with a proper building prior to it, in my view most of BO fail and if you have not the patience that he has you also going to fail....only my view.

 

[BLS]

Week 25 charts from Volman:

https://www.dropbox.com/sh/1amxmi9af0fk6ej/VA5_ZrjQF1

 

[BLS]

Week 26 charts from Volman:

https://www.dropbox.com/sh/1amxmi9af0fk6ej/VA5_ZrjQF1

 

[Jingles]

does anyone know of any where on the internet where people are discussing his 2nd book. I really want to get into the 2nd book.

BLS do you know if Bob is making available charts based on his 2nd book. and where to find them if so.

 

[Jingles]

I think it will be very difficult to trade EURUSD 5-min charts using Bob's method. TonyIommich once compiled statistics of number of trades during the 6-month period in Bob's second book. There weren't enough setup. Earlier this year (Week 14) Bob provided 5-min charts for three pairs (EURUSD, USDJPY and AUDUSD). The opportunities were scarce.

The book itself is worth reading. It helped me better understand the principles he laid out in his previous book, FPAS. In February I started trading the above mentioned three pairs using 200-tick charts (there is a whole chapter about trading in low volatility environment in UPA, the second book). Then starting in May I switched back to 70-tick for EURUSD but kept the 200-tick charts for the other two pairs. The 200-tick charts are very similar to the 70-tick charts, except that Bob used angular lines more often.

My opinion is if you know FPAS really well you don't need to buy UPA. If you don't, or if you trade other instrument and prefer the 5-minute timeframe, it can be helpful (ask TonyIommich who trades ES, 5-min charts). If you do trade forex and feel 70-tick is too fast, then you may try 200-tick as I did, and when you feel more comfortable with the speed you can come back to 70-tick.

Well I hope to be able to apply his 5 min methods to longer term charts. I did not do a study but it does look to me like the 2nd book gives very few trades. In fact I have only found one time on a chart where it seemed to come close to what he discusses in book 2. I have not really studied book 1 although I purchased both books. What I did not like is that book 1 really is specific to small bars. for example you will not see double doji on longer term charts. with the fast bars of 70 ticks the double doji comes up fairly often. because each doji bar only takes 70 tics and 140 tics for double doji. that can happen very quickly.

I think one has to relax the rules bob has developed for longer term bars. but I have no idea how to do that. I presently do not trade. I am a newbie trying to learn. well not too newbie. I have been studying this stuff for some time now. but not trading. I can not afford to lose and I need to put together a system that will allow me to trade and come out ahead.

overall I really like the methods that bob uses in the books. I like his use of the moving ave and the price bars etc. His explanations are excellent. I have learned so much about trading from his books so far.

I also agree that I can not understand Al Brooks. I have all his books for years and it is all a mystery to me. haha. I can not figure him out at all. But I seem to understand Bob Volman and that is why I want to go deeper into this.

 

[BLS]

Week 27 charts from Volman:
https://www.dropbox.com/sh/1amxmi9af0fk6ej/VA5_ZrjQF1

 

[JRS]

Greetings T2W. Though I've been actively trading daily, it's been a while since I've posted anything. I'm going to be more active, both to share my experience and to help me learn along the way.

Little background, this is my 4th year of trading. Of that time, I've traded Volman about 2 yrs. (And contrary to some opinions expressed, I can say that his setups DO work - trading is also not so much about setups as it is about mastery of self and psychology though!!) Though I read and learned a lot from his second book, I trade FPAS (sans DDs, SBs, and FBs only sparingly).

Looking forward to learning from you all and sharing any bits I can!

Edit: Also a very big THANK YOU to Bob and BLS for continuing to post the charts. Having the ability to see how Bob trades and compare with my own charts has been a great source of learning, as much or more than the books themselves!

 

[JRS]

My trades for the day, good movement with plenty of opportunity.

Some of these were tough to sit through. My primary focus for improving my trading these days is working to take a long-term view of my trading. Part of that means only taking trades you can defend then sticking with your exit strategy throughout, regardless of other factors (like how I've done recently!)

Enjoy the journey.

 

[keen246]

Hi JRS, Nice trades.
That lack of taking into account the longer-term view of the market is, in MHO, B.V's method major flaw. Yes, that adds an extra level of complexity, but hey...trading is not easy.
My scalping has improved quite a lot since I started trading taking some kind of bias from the higher TFs (M5-M30). When I don't see a clear bias on a HTF, I sit on my hands.
Cheers

 

[JRS]

Thanks of your comments Keen. Just to clarify, by 'longer-term view' I was meaning not getting wrapped up in the day-to-day variance of P/L. To your point though, I do 'zoom-out' to see what the overall market picture is on a HTF.

If I see some solid PA that counters it, though, I'll happily trade it. This morning on the EURUSD was a good example - it trended down throughout the European session but bottomed for an hour or so around the NY open. I went long even though the previous, larger trend was down. On the 5-min chart, I'm not sure you could justify doing that since it was so far below the EMA. I kind of see this as a strength of Volman - it allows you to take quick scalps when the market changes where you probably wouldn't get that signal with the HTFs.

Just my 2 cents. Ultimately it boils down to what works for you. Sounds like your method is working for you so trade on!

 

[Jingles]

Awesome charts. I love them.

I am new here so have not read the thread. I read all of book 2 now and only about 65 pages of book 1. I wish there was more sharing on book 2. but I can not find it anywhere on internet. so I guess I will make due with this thread on book 1.

I love the way you box in the charts with the moving ave. it seems pretty clear. although I am not sure which points you trade and which you skip. I did see a red arrow. I will guess that the red arrow and the green arrow are the actual trades. Also what is the time zone on the charts. I am in New York city time zone. and Bob is in Europe time zone so I have to keep that in mind when I look at the chart.

Just wondering on your markings of actual trades. if the red and green arrows are the trades then no need to respond. There are a few black arrows I guess those are skipped over possible trades not taken.

And if anyone is trading book 2 please let me know.

Thanks everyone for sharing. This is an awesome thread and I wish I had found Bob long ago. but I only ran into his books about maybe 2 months ago. I have been studying trading for 5 years every day pretty much. and I am beginning to feel good about it. I have learned a lot. I love the way Bob explains things. I have learned so much from his books so far.

 

[JRS]

Had to cut it short today, couple of trades though.