Traderallen
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Thanks BLS
thelastseven
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Hi everyone,
I am new to the Bob Volman's trading style and have just read his book halfway through till I found this interesting thread.
Can I ask that why Bob does not use the DD or SB setup anymore in his chart giveaway every week? Now does he only focus and trade on the RB, BR,IRB or ARB setups? So Is it the adjustment for the low volatility condition of the market nowadays?
Thank you!
I am new to the Bob Volman's trading style and have just read his book halfway through till I found this interesting thread.
Can I ask that why Bob does not use the DD or SB setup anymore in his chart giveaway every week? Now does he only focus and trade on the RB, BR,IRB or ARB setups? So Is it the adjustment for the low volatility condition of the market nowadays?
Thank you!
Last edited:
I'm new to Volman's style, too, and new to trading in general. I was unaware of this thread until recently; looking forward to getting more involved. Below is an excerpt from a recent e-mail from Volman that answers your question.
"...ever since the book came out, the eur/usd, and most currencies across the board, have become pretty stale in terms of intraday movements. This demanded adaptation. My guess is that pace will eventually pick up again (when interest rates go up), but for the moment I personally recommend a more conservative approach. For myself this means that I seldom act on quick continuation scalps like DDs, FBs and SBs, and mainly concentrate on RB, IRBs and ARBs. Of course, this depends also on your style... Anyway, check out these charts in the dropbox, if you haven't come across them already. It's best to start out with the oldest sets and then work your way up. That will give you a better feel for the adaptation process..."
BLS
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Week 29 charts from Volman:
https://www.dropbox.com/sh/1amxmi9af0fk6ej/VA5_ZrjQF1
https://www.dropbox.com/sh/1amxmi9af0fk6ej/VA5_ZrjQF1
Hey guys,
First I'd like to thank Bob for his honesty & helps. He answers emails kindly but I'm not gonna take his time asking him my questions. So have some for you folks:
1. What's it like to trade Bob's scalping? Do you sit in front of the chart for 6-8 hours without blinking?!
2. Has any body tried this system with other pairs or timeframes like 1min chart?
Cheers
First I'd like to thank Bob for his honesty & helps. He answers emails kindly but I'm not gonna take his time asking him my questions. So have some for you folks:
1. What's it like to trade Bob's scalping? Do you sit in front of the chart for 6-8 hours without blinking?!
2. Has any body tried this system with other pairs or timeframes like 1min chart?
Cheers
Traderallen
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Question number one. What do I like about FPAS? Simple it works
Question number two.How long do I sit in front of the charts? Know your trading vehicle so you know when it's likely to move. For me it's about a two-hour and 40 minute window.
Question number three. Other currency pairs? I use it on any active pair where the spread is low enough for me to take advantage.
Question number two.How long do I sit in front of the charts? Know your trading vehicle so you know when it's likely to move. For me it's about a two-hour and 40 minute window.
Question number three. Other currency pairs? I use it on any active pair where the spread is low enough for me to take advantage.
BLS
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Week 30 charts from Volman:
https://www.dropbox.com/sh/1amxmi9af0fk6ej/VA5_ZrjQF1
https://www.dropbox.com/sh/1amxmi9af0fk6ej/VA5_ZrjQF1
Last Weeks Trading
Well, it took about a month, but I've finally scrolled through the entire thread from beginning to end. Some good stuff here. I've been extremely encouraged by reading your experiences on the road to becoming proficient traders. I've also got a good reading list and some material to study from previous posts.
I'd like to introduce myself. I live California with my family. I was introduced to trading last December while contemplating a career transition. In January I came across Bob's book and have been using his method as a basis for my own trading and studies of the market. I spent the first three months mostly studying and have been live trading/testing these past three months while continuing to study on the side. Hoping to become a professional trader eventually.
A few weeks ago I e-mailed Bob to ask his opinion on a "tipping point" issue. I was surprised to get a very kind and thoughtful response from him. He directed me to the thread here and to his weekly charts. Wow! Those are awesome. Now that I've begun to get a decent grasp on chart reading, my biggest challenge is to learn some discipline and work through the unexpected (though apparently very common) psychological issues that go along with trading. Then, perhaps I can develop some consistency.
It looks like some of the chart sharing and collaborating has died down over the past few months on the thread, but I can see that there are still 4-5 active traders who are posting here and some others who are reading. I thought I would start sharing the best and worst of my trades each week... 1) for my own accountability, 2) for feedback, and 3) and to encourage those who are trying to learn like I am.
I also attached the results of my "rule breaking" for last week. This might be encouraging to someone. On Mon, Tue, and Fri I broke rules on entry and exit on a few trades. It helps me to see how many pips this cost me. If not for these trades I would have made a small profit last week.
Feel free to comment/critique. I'll do the same.
Well, it took about a month, but I've finally scrolled through the entire thread from beginning to end. Some good stuff here. I've been extremely encouraged by reading your experiences on the road to becoming proficient traders. I've also got a good reading list and some material to study from previous posts.
I'd like to introduce myself. I live California with my family. I was introduced to trading last December while contemplating a career transition. In January I came across Bob's book and have been using his method as a basis for my own trading and studies of the market. I spent the first three months mostly studying and have been live trading/testing these past three months while continuing to study on the side. Hoping to become a professional trader eventually.
A few weeks ago I e-mailed Bob to ask his opinion on a "tipping point" issue. I was surprised to get a very kind and thoughtful response from him. He directed me to the thread here and to his weekly charts. Wow! Those are awesome. Now that I've begun to get a decent grasp on chart reading, my biggest challenge is to learn some discipline and work through the unexpected (though apparently very common) psychological issues that go along with trading. Then, perhaps I can develop some consistency.
It looks like some of the chart sharing and collaborating has died down over the past few months on the thread, but I can see that there are still 4-5 active traders who are posting here and some others who are reading. I thought I would start sharing the best and worst of my trades each week... 1) for my own accountability, 2) for feedback, and 3) and to encourage those who are trying to learn like I am.
I also attached the results of my "rule breaking" for last week. This might be encouraging to someone. On Mon, Tue, and Fri I broke rules on entry and exit on a few trades. It helps me to see how many pips this cost me. If not for these trades I would have made a small profit last week.
Feel free to comment/critique. I'll do the same.
Attachments
They are my questions too, I hope the masters give their kind advice & ideas on them
Traderallen
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For those that are in the US or the UK, they can use the same broker and charting software that I use virtually free. An account can be opened up with MB trading for about $200 minimum account balance which gives you access to the ninja trader program.
As far as the higher time frames, in theory yes it would have to be some changes in money management for stops and targets. In real trading I'm not so sure, the edge with this method in my opinion is being able to capture short-term momentum. This edge may be lost on a five or 15 minute chart. Others may have a different opinion.
As far as the higher time frames, in theory yes it would have to be some changes in money management for stops and targets. In real trading I'm not so sure, the edge with this method in my opinion is being able to capture short-term momentum. This edge may be lost on a five or 15 minute chart. Others may have a different opinion.
Hi There , I am a new to this forum, and ended up here because i was looking for more information about Mr Bob Volman's method. just last Friday i came to know about his book, I am not new to doing study about different methods and approaches, but nothing clicked so far. I started doing my own research / study because i thought everywhere in books / forum all is junk, nothing much of value or real trading thing. Every one i think just says /advice about things which are not really use full , wasting too much time.
So far i have just read excerpts from his book and found it very interesting and practical. I have to still order the book and read it but to my surprise what i find on this forum is all Week by week charts from Mr Volman himself on his strategy. that is really awesome.
I don't find much time for trading, because i have full time job, but i am waking up early 4 am to trade eur/usd . I have account with Oanda but i dont think they have tick chart but i dont think they have 70 tick chart. i am finding his Bob's approach applicable on 1 minute chart too. i think basically he is trying to looking for break of support / resistance, with coil inside the box. but saying here is very easy then doing i know it very well
So far i have just read excerpts from his book and found it very interesting and practical. I have to still order the book and read it but to my surprise what i find on this forum is all Week by week charts from Mr Volman himself on his strategy. that is really awesome.
I don't find much time for trading, because i have full time job, but i am waking up early 4 am to trade eur/usd . I have account with Oanda but i dont think they have tick chart but i dont think they have 70 tick chart. i am finding his Bob's approach applicable on 1 minute chart too. i think basically he is trying to looking for break of support / resistance, with coil inside the box. but saying here is very easy then doing i know it very well
Traderallen
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i am finding his Bob's approach applicable on 1 minute chart too. i think basically he is trying to looking for break of support / resistance, with coil inside the box. but saying here is very easy then doing i know it very well
I have seen comments like this over and over. And every time i see it I think to myself these guys just don't get it. It doesn't matter what you're trying to learn this method or any other method. The entire method that is being taught needs to be taken as a whole. The entry set up as described above are the absolute least important parts of this method. Once you understand all the information that Bob is trying to convey to you about scalping you may realize this. Why so many people have trouble with this method on this thread and they are too focused on the setups. I highly recommend anyone interested in scalping read Bob Volman's book. The least important chapters in the entire book are the ones on the setups. Its the entire rest of the book that makes scalping profitable. If you don't understand the market your trading your destined to fail.
Hi There , I am a new to this forum, and ended up here because i was looking for more information about Mr Bob Volman's method. just last Friday i came to know about his book, I am not new to doing study about different methods and approaches, but nothing clicked so far. I started doing my own research / study because i thought everywhere in books / forum all is junk, nothing much of value or real trading thing. Every one i think just says /advice about things which are not really use full , wasting too much time.
So far i have just read excerpts from his book and found it very interesting and practical. I have to still order the book and read it but to my surprise what i find on this forum is all Week by week charts from Mr Volman himself on his strategy. that is really awesome.
I don't find much time for trading, because i have full time job, but i am waking up early 4 am to trade eur/usd . I have account with Oanda but i dont think they have tick chart but i dont think they have 70 tick chart. i am finding his Bob's approach applicable on 1 minute chart too. i think basically he is trying to looking for break of support / resistance, with coil inside the box. but saying here is very easy then doing i know it very well
BV's method does work on a 1minute. However you get more chop, false signals and far less edge. So why bother.
So best to stick to BV's method on its own which is powerful enough, however I don't believe you can learn this system as quickly as one my think. Its taken me 6 months just to understand and trade just 2 entries. Thats using real money now @ 1 contract to 10 contrat trades. Also, am mostly just trading the futures contracts, not spot.
BLS
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Week 31 Charts from Volman:
https://www.dropbox.com/sh/1amxmi9af0fk6ej/VA5_ZrjQF1
https://www.dropbox.com/sh/1amxmi9af0fk6ej/VA5_ZrjQF1
I have account with Oanda but i dont think they have tick chart but i dont think they have 70 tick chart. i am finding his Bob's approach applicable on 1 minute chart too. i think basically he is trying to looking for break of support / resistance, with coil inside the box. but saying here is very easy then doing i know it very well
As far as minute charts, I agree with patong and Traderallen. If you already have a strategy based on minute charts and you're just looking to supplement you're knowledge, then certainly you can get some good stuff from Volman's book but you'd really be better off looking at someone like Al Brooks. However, if you're looking to learn Volman's approach then you'll soon find out that it really takes advantage of the uniqueness of tick charts. There is a chapter dedicated to this in the book as well as commentary within many other chapters about tick charts vs. time charts. I used 1 minute charts on MT4 for the first few weeks of trying this method before realizing this. Many of the same principles apply, but I had problems with false signals and breaks, reading the chart during very fast times, and reading the chart in very slow times. Also, you have to consider volume data when interpreting a time chart.
As far as brokers and tick data, you'll find that some people on this thread use their broker's data while some pay for a separate data service. Many use ProRealTime.com because that is what Volman uses. I use Kinetick (NinjaTrader). Other's use free tick data provided by a broker like MB Trading, ≈, etc.
Agree completely. I'm about 7 months in and feel like I'm just now getting a grasp on reading the charts.
Thanks Allen for your post. I am trying to realize the contenxt behind the setups. I have to still finish reading the book.
Be careful what you wish for, may not be what you expect.