Bob Volman Price Action Scalping

Speaking of 'scalping', it appears somebody 'scalped' Bob's book. I noticed that when Bob posted the screenshot of his Amazon book, the price was $32.40. Then when I looked at it just now it says '4 sellers from $37.50', but you can't buy it directly from Amazon. Looks like 4 savvy resellers grabbed all of the available Amazon inventory and started re-selling the book at a $5 markup.
 
I just wrote to Bob and he mentioned that Amazon will have it available direct either by the end of this week or the beginning of next. The price is at $39.90 but Amazon discounts it periodically based on their own proprietary pricing algorithms. Bob said that Amazon should not offer it any higher than $39.90.

Very much looking forward to this book!
 
Back in stock

TonyIommich said:
I just wrote to Bob and he mentioned that Amazon will have it available direct either by the end of this week or the beginning of next. The price is at $39.90 but Amazon discounts it periodically based on their own proprietary pricing algorithms. Bob said that Amazon should not offer it any higher than $39.90.

Very much looking forward to this book!
Click to expand...

Understanding Price Action appears to be back in stock on Amazon.com for all those interested.
 
jclaytonf said:
Understanding Price Action appears to be back in stock on Amazon.com for all those interested.
Click to expand...

I ordered mine yesterday (seems like it's going to be delivered in an Month!). I checked the table of contents and seems like much of the information is already on the previous book. Anyway I'm looking forward to read what other new information the new book has and I'm happy to support Bob's great job.
 
keen246 said:
I ordered mine yesterday (seems like it's going to be delivered in an Month!). I checked the table of contents and seems like much of the information is already on the previous book. Anyway I'm looking forward to read what other new information the new book has and I'm happy to support Bob's great job.
Click to expand...

For those of us trading FPAS, I suspect the new book will help sharpen our skills in reading the overall price action, in effect when to take the set-ups on offer. It will make an interesting contrast to Al Brooks' three volume series on the 5 minute chart, which I found a bit tough to work though despite its obvious depth.
 
Hi jclaytonf,
I plan to take on Al Brooks' 3 books. It seems like you've read them, so I would like to know if you think they're worth the time and effort to complement B.V approach to read and trade on the lower time frames? I read some reviews where they also mention how hard to read Brooks' books are due to poor writing, but that the content is good. What do you suggest?
Cheers
 
keen246 said:
Hi jclaytonf,
I plan to take on Al Brooks' 3 books. It seems like you've read them, so I would like to know if you think they're worth the time and effort to complement B.V approach to read and trade on the lower time frames? I read some reviews where they also mention how hard to read Brooks' books are due to poor writing, but that the content is good. What do you suggest?
Cheers
Click to expand...

Hi Keen,

Al's books are probably the most comprehensive works on price action imaginable, but they are not easy reads. Worth plowing through as part of our education (as Bob puts it), but if I may suggest the easy route, Al sells a trading course which is a series of videos (wmv format) for, from memory, about $250, which is superb and more easily digested, and also a way to get into the books more easily. He is a brilliant man, and like Bob Volman, very generous with his knowledge and time, but Bob is a much more accessible writer. In summary, definitely worth doing.

On a somewhat different note (trading psychology), I also recommend a DVD set Mark Douglas of Trading in the Zone fame sells from his website, "How to Think Like a Professional Trader".

Cheers, Jeremy
 
jclaytonf said:
Hi Keen,

Al's books are probably the most comprehensive works on price action imaginable, but they are not easy reads. Worth plowing through as part of our education (as Bob puts it), but if I may suggest the easy route, Al sells a trading course which is a series of videos (wmv format) for, from memory, about $250, which is superb and more easily digested, and also a way to get into the books more easily. He is a brilliant man, and like Bob Volman, very generous with his knowledge and time, but Bob is a much more accessible writer. In summary, definitely worth doing.

On a somewhat different note (trading psychology), I also recommend a DVD set Mark Douglas of Trading in the Zone fame sells from his website, "How to Think Like a Professional Trader".

Cheers, Jeremy
Click to expand...

Thanks Jeremy for your suggestions(y). You encouraged me to start reading Brooks' books. Trading in the Zone is also on the list of my next books to read, and now that I come to think about it, I should read it before Brooks'.
Have a great trading day.
Cheers,
Keen246
 
keen246 said:
Thanks Jeremy for your suggestions(y). You encouraged me to start reading Brooks' books. Trading in the Zone is also on the list of my next books to read, and now that I come to think about it, I should read it before Brooks'.
Have a great trading day.
Cheers,
Keen246
Click to expand...

Trading in the Zone an easy read. Should be beside every trader's bed in my opinion. I read it again and again, at least once every six months. Mark Douglas is a wise man. Good luck, Keen.
 
Al Brooks is definitely a difficult read (esp. when compared to Volman), the style of writing is pretty bad - sort of a stream of consciousness. Lots of terminology that isn't always well defined.

My advice is to first look at several of Brooks's videos that are free (Big Mike's forum has a few, also look up "Al Brooks - Best Price Action" on Youtube). If you can get into this way of thinking, then by all means get the books and/or the course.

I just ordered Bob's new book yesterday with 2 day delivery (I want it before I start my travels), and it shipped so it appears its moving without bottlenecks so far.

Volman's new book is like Al's in that it focuses on the five minute time frame, but for my money Volman is a way better writer. If I were you I'd probably get Volman's new book first, read it thoroughly, and then move on to Brooks's material.

Another good writer with a similar approach is Lance Beggs. His ebooks aren't exactly cheap but are very well written and searchable.
 
TonyIommich said:
Al Brooks is definitely a difficult read (esp. when compared to Volman), the style of writing is pretty bad - sort of a stream of consciousness. Lots of terminology that isn't always well defined.

My advice is to first look at several of Brooks's videos that are free (Big Mike's forum has a few, also look up "Al Brooks - Best Price Action" on Youtube). If you can get into this way of thinking, then by all means get the books and/or the course.

I just ordered Bob's new book yesterday with 2 day delivery (I want it before I start my travels), and it shipped so it appears its moving without bottlenecks so far.

Volman's new book is like Al's in that it focuses on the five minute time frame, but for my money Volman is a way better writer. If I were you I'd probably get Volman's new book first, read it thoroughly, and then move on to Brooks's material.

Another good writer with a similar approach is Lance Beggs. His ebooks aren't exactly cheap but are very well written and searchable.
Click to expand...

see https://brookstradingcourse.com/free-sample-trading-videos/
 
My best trading books

I think the direction we have taken in terms of sharing various books and resources we have found helpful is great. Here are a few of my favourites (apart of course from Bob Volman and Al Brooks):

Overall price action principles:
Edwards & Magee: Technical Analysis of Stock Trends (old editions 5 or 6, not the new ones)
Martin Pring on Price Patterns

Price Action Trading:
Joe Ross's books on Day Trading, Trading by the Book, Trading is a Business and the Ross Hook
Barry Rudd's two books on Stock Patterns for Day Trading
Linda Raschke's Street Smarts (uses indicators but LBR is smart and generous, she has a website as well)>
Toby Crabel's Day Trading with Short Term Price Patterns (out of print and expensive, treat yourself when you have a great month).

Psychology:
Mark Douglas's materials
Daniel Kahneman: Thinking Fast & Slow - this explains all the biases the human mind has for trading. It explains why we respond the way we do to certain trading scenarios.

Also The Universal Principles of Successful Trading by Brent Penfold, which teaches us how this business really works.

I hope this of some help to you all.

Jeremy
 
I should also mention Adam Grimes. He wrote a great book (Art and Science of Technical Analysis) and also has a free course on his blog, adamhgrimes.com

The course blows away any pay course I've ever seen. It's very serious, intelligent, to the point, and you can tell this is an experienced person writing.

Btw, Bob's new book "Understanding Price Action" just came in and I've begun reading it. Right off the bat it seems he's done an even better job than in Forex Price Action Scalping. He put in a handful of examples from stock index futures too, though I wish he put in more.
 
So I have finished reading the new Volman's book. I'm going to read it again in one-two weeks.

He has renamed his patterns of entry and uses now regularly the angular lines, which was not the case in his first book. The issue with this is that the drawing of these lines is often debatable, more than drawing boxes at any rate.

The chapter regarding six months of trading the EU is really interesting because you can evaluate his entries and what you would have done. In the end I can't help but think that trading is really an art and Voman's entries or trading can't be reduced in on book. He really tries to explain its methodology but, as any trader, I think that there remains a lot of things which are internalized and can't be explained easily to anybody else. So take some ideas from his trading and adapt them yourself in your daily trades.

He has changed his timeframe: 70 ticks to 5min. I think that trading his method on the 5min TF will result in one trade by day on average which will be difficult to handle psychologically. His advice is to add several pairs to EU to generate more trades.

One last thing to consider: the chapter on the trading of EU during 6 months shows that the study has been made after the fact. Not a big deal but it doesn't bring the credibility some are asking.
 
mynaus said:
So I have finished reading the new Volman's book. I'm going to read it again in one-two weeks.

He has renamed his patterns of entry and uses now regularly the angular lines, which was not the case in his first book. The issue with this is that the drawing of these lines is often debatable, more than drawing boxes at any rate.

The chapter regarding six months of trading the EU is really interesting because you can evaluate his entries and what you would have done. In the end I can't help but think that trading is really an art and Voman's entries or trading can't be reduced in on book. He really tries to explain its methodology but, as any trader, I think that there remains a lot of things which are internalized and can't be explained easily to anybody else. So take some ideas from his trading and adapt them yourself in your daily trades.

He has changed his timeframe: 70 ticks to 5min. I think that trading his method on the 5min TF will result in one trade by day on average which will be difficult to handle psychologically. His advice is to add several pairs to EU to generate more trades.

One last thing to consider: the chapter on the trading of EU during 6 months shows that the study has been made after the fact. Not a big deal but it doesn't bring the credibility some are asking.
Click to expand...

Hi guys, I just recently got his book on FPAS and ordered his new book yesterday. I must say I am quite surprised that Bob has somewhat went from a tick chart to a time chart. I'm really hoping his latest book was written to cater to people with no access tick charts + sell more books rather than abandoning his previous trading philosophy.
 
kramnave said:
Hi guys, I just recently got his book on FPAS and ordered his new book yesterday. I must say I am quite surprised that Bob has somewhat went from a tick chart to a time chart. I'm really hoping his latest book was written to cater to people with no access tick charts + sell more books rather than abandoning his previous trading philosophy.
Click to expand...

The philosophy remains the same: trading breakouts which have a solid build-up
 
My understanding is he trades both the 70 tick and 5 minute chart independent of each other. It's not a case of moving from one to the other.
 
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