Bob Volman Price Action Scalping

[keen246]

how do I do a reload of the NT chart. I am not a computer guy so I have to learn these one thing at a time slowly. I have no idea how to reload a chart. or what you mean by it. is there something simple. does it automatically reload if I shut NT down and boot it back up. but that is very slow and painful to shut down and back up.

thanks for your help

Right click on the chart, and you'll see "Reload All Historical Data". That will update the chart and it will be correctly displayed.
Before doing that, take a screen-shoot of the tick chart (running for more than 30 min) and compare it with the reloaded one. Then you'll notice the issue I've been talking about. If you're using the latest release of NT, please post your finding and let us know whether the issue was solved on the last release as they had promised.

 

[keen246]

Hello everybody. My first post here. I purchased both Bob Volman's books and have started to read the first one. So far I like what I see. I will take my time and study the charts kindly provided in this thread as well. I suppose I still have a fair amount to go LOL
Meanwhile I would like to suggest something about tick charts, although I see the "experts" here have already expressed their opinion: one more datafeed that is possible to use is sierracharts, which provides a full month trial and would be much cheaper than PRT. I'm attaching side by side a chart from PRT and one from SC (the latter set to 150 ticks). It's obvious there is some difference, but do you guys think this would actually affect the overall system performance? Inputs are more than welcome of coyurse. Thanks

P.S. - I was forgetting: the horizontal grid is set to 10 fixed pips on SC while I don't know how to set it on PRT where it currently shows 5 pips.

Those SC 150 tick chart looks pretty good to me. Close enough to the 70 tick chart. IMHO, that would be good enough to trade based on B.V's FPAS. I'm not "expert", and I'm not trading based on FPAS anymore, just using the PA concepts of the book. Maybe someone using actively FPAS can share his thoughts.

 

[JRS]

Just one of those days...

 

[cha-ching]

Just one of those days...

Took the same trade at 6:59 (we are in the same time zone). Didn't like the squeeze but would've taken the ARB three bars later if I had skipped the RB.

The only other trade for me was on USD/JPY 200 tick chart.

 

[fiction4]

Didn’t get any trades today. Frustrated that I missed the last one, but I am highly skeptical of trades between 11am-12pm central time. Probably over cautious today, but protecting profits for the month.

 

[fiction4]

Took the same trade at 6:59 (we are in the same time zone). Didn't like the squeeze but would've taken the ARB three bars later if I had skipped the RB.

The only other trade for me was on USD/JPY 200 tick chart.

Had the same trade on my USDJPY chart marked as a miss. Don't know what I was doing that I spaced out and missed out. Well done!

 

[fxstrategist]

Price action is the best type of trading, there is no indicator that goes ahead of the price, price is always the best indicator.

 

[fiction4]

Random

 

[cha-ching]

Had the same trade on my USDJPY chart marked as a miss. Don't know what I was doing that I spaced out and missed out. Well done!

Thanks. I think in this trade the Fibonacci band helped me (the light blue area in my chart, at 50% and 60%) to pay attention, especially after a block formed. Most of the time I remember to draw the band after a swing of, say, more than 15 - 20 pips.

 

[fxonly]

P.S. - I was forgetting: the horizontal grid is set to 10 fixed pips on SC while I don't know how to set it on PRT where it currently shows 5 pips.

To set the scale on PRT do this:

Step 1 - left click on the chart and move it around (up, down, left, & right), the chart may or may not re-scale on it's own.

Step 2 - left click on the price axis and move the scale up or down as needed

If you skip step 1 and go straight to step 2 then the chart will re-scale throughout the day

Thanks. Set it to 10 pips for now.

Sorry, maybe boring but it might help some PRT newbie like me. That tip did'nt help after restarting the platform although I saved. What I find handy instead is to set the Vertical scale density to low in the Chart settings window.

 

[PipMonster24]

Sorry, maybe boring but it might help some PRT newbie like me. That tip did'nt help after restarting the platform although I saved. What I find handy instead is to set the Vertical scale density to low in the Chart settings window.

Sorry about that. I totally forgot about setting the Vertical Scale density to low. I have mine set to low as well, but you'll still have to re-scale your charts each time you start the PRT platform.

 

[cha-ching]

Sorry, maybe boring but it might help some PRT newbie like me. That tip did'nt help after restarting the platform although I saved. What I find handy instead is to set the Vertical scale density to low in the Chart settings window.

This one has been asked a number of times in the past. I found one of Matty_Dunn's earlier posts which also includes a tip to make your charts look more like Bob's (his last tip):

http://www.trade2win.com/boards/forex/153716-bob-volman-price-action-scalping-283.html#post2313038

 

[fxonly]

This one has been asked a number of times in the past. I found one of Matty_Dunn's earlier posts which also includes a tip to make your charts look more like Bob's (his last tip):

http://www.trade2win.com/boards/forex/153716-bob-volman-price-action-scalping-283.html#post2313038

You're right and I apologize for not having thoroughly searched through the thread before asking. I found that post only quite some time after the question was fired. Will pay more attention in future.

On another note, I would like to point out that SC has a nice replay feature which will allow to backtest the strategy like in real time. Handy for Bob's newbies like myself.

 

[cha-ching]

You're right and I apologize for not having thoroughly searched through the thread before asking. I found that post only quite some time after the question was fired. Will pay more attention in future.

Don't worry. I myself asked this too a while ago. For this one, it's difficult to search within the posts. I have been reviewing old posts lately and plan to write up something for new comers in the near future.

On another note, I would like to point out that SC has a nice replay feature which will allow to backtest the strategy like in real time. Handy for Bob's newbies like myself.

Great to know. How far can you go back to test 150-tick chart?

 

[fxonly]

Don't worry. I myself asked this too a while ago. For this one, it's difficult to search within the posts. I have been reviewing old posts lately and plan to write up something for new comers in the near future.



Great to know. How far can you go back to test 150-tick chart?

I don't know what the actual limit is, but I just tried 180 days, and look at the pic: you're looking at 6 months of tick data!:-0

 

[fiction4]

Tough day to be a breakout trader. Started the morning trading exclusively the 200-tick chart. This turned out to be a mistake. I’m not up to practice enough on that chart to be live trading. Was overly aggressive and breaking my own rules. Most likely affected my psyche in the rest of the session trying to “revenge” trade.

 

[cha-ching]

Tough day to be a breakout trader. Started the morning trading exclusively the 200-tick chart. This turned out to be a mistake. I’m not up to practice enough on that chart to be live trading. Was overly aggressive and breaking my own rules. Most likely affected my psyche in the rest of the session trying to “revenge” trade.

Are you trading 200-tick or 5 min? Your chart shows 5 min.

The setup was too tall (8 pips, which implies a 11+ pip stop), so was the signal bar itself (7 pips). The overall pressure was not bullish enough given the bear swing. These are just my personal opinion on trading 200-tick charts (I trade 70-tick for EUR/USD and 200-tick for USD/JPY). I found no entries today during my trading hours.

One thing I found useful is you can set EMA color to be green for uptrend and red for downtrend. If you had done that in your chart, you'd see there's not enough greens to counter the red for you to go long yet.

 

[fiction4]

Are you trading 200-tick or 5 min? Your chart shows 5 min.

The setup was too tall (8 pips, which implies a 11+ pip stop), so was the signal bar itself (7 pips). The overall pressure was not bullish enough given the bear swing. These are just my personal opinion on trading 200-tick charts (I trade 70-tick for EUR/USD and 200-tick for USD/JPY). I found no entries today during my trading hours.

One thing I found useful is you can set EMA color to be green for uptrend and red for downtrend. If you had done that in your chart, you'd see there's not enough greens to counter the red for you to go long yet.

I was trading the 200-tick in the early morning (which really messed me up), then switched over to the 5-min, which you see here.

Thanks for the feedback. Two questions:
1) how tall do you like your setups to be?
2) I noticed in your charts the red/green EMA. I like it and I've since duplicated it. But isn't it kind of arbitrary how much of one color or the other to undo a move? Or do you have a method for that?

 

[BLS]

Week 30 charts from Volman:
https://www.dropbox.com/sh/1amxmi9af0fk6ej/VA5_ZrjQF1

 

[cha-ching]

Question about Bob's new chart

Can somebody please tell me why the BB entry (actually an ARB) at 11:16 was better than the RB at 10:44 in Bob's chart? He said "this development is now more likely to scare the bulls away from the 50 level". Why? The development was a series bearish bars, worse buildup than that before the skipped short, and more likely to be countered.

Thanks,

Cha-ching