Bob Volman Price Action Scalping

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.
 


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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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.
 
Hi all - is this thread dead, or just temporarily dormant? Would be great to connect with other traders who are using Volman's FX scalping approach.

I just spent the last week trying out Volman's setups, and I'm up 30 pips despite a lot of stumbling around. I'm pretty excited about going forward with it. I posted charts of my first few trades in the Volman thread at forexfactory, but no responses yet. So I figured I'd give it a try here to see if there's any interest.
 
Hi all - is this thread dead, or just temporarily dormant? Would be great to connect with other traders who are using Volman's FX scalping approach.

I just spent the last week trying out Volman's setups, and I'm up 30 pips despite a lot of stumbling around. I'm pretty excited about going forward with it. I posted charts of my first few trades in the Volman thread at forexfactory, but no responses yet. So I figured I'd give it a try here to see if there's any interest.
Hi FXBarbarian, what charting software are you using?? I'm having troubles finding one with full pip increments as Bob suggests
 
Hi all,

I'm sure this question has been asked a bunch of times - but should I get Volman's forex scalping book, or the newer one first? I'm not sure if UPA is a 'sequel' to the first one, or something standalone.

Thanks!
 
USE THE FIRST BOOK ON SCALPING. THE 2ND BOOK IS USELESS. NO GOOD. in the 2nd book he tries to use his method of book 1 scalping applied to 5 min bars. but the problem is you never get trades. with the first book you have a trade or more trades every day. there is no useful info in 2nd book in my opinion. others might have found some ideas. but book one is a good book.

I do not trade book 1 because I would have to trade from like 2 am or 3 am Eastern Time. and that is trading all night. not going to do that. but I found that after reading half the book I could trade his method. it is the best explanation of a method I have run into.

But I do not use mov ave or any of the stuff in his books. I read it years ago. long time ago. I would guess 5 years ago.

some where toward the late part of this thread. someone said he traded this method for 3 months on 1/100 size contract to make sure he was able to do it. and he did great. no fears no pressure. he used $1 profit or 60 cent loss. I recommend you do the same.

also some people say this method need to use REAL TICK DATA FEED. that other data feeds dont work so well. so that might be an extra cost. to trade this way you have to be totally dedicated to this one method. i want something that will work in any and all markets. this does not fulfill that requirement. although i guess with a lot of work one can adopt something to some other markets.

but I want something that works in any and all markets on all time frames.

to me this is using a method not really about knowing how to trade. I want to know how to trade. if this method blows up as it might. then what do you do. I dont know. but so far the method seemed to work. I can only assume it is still working or people would report trouble. but a lot of volume is being traded on this exact method. not good. the history of trading shows good systems blow up as traders learn to take advantage of all the volume coming in at known price times. so be careful.

in general data feeds do NOT give all the ticks. they skip over lots of ticks. some data feeds might have less than 1 tick in 4. and random I guess. not sure about the technicalities of what you receive. but there is lots of discussion in the tread and people who trade this seem to want to trade REAL TICK DATA FEED.

I am older and I like to trade swing trading. not scalping. when you get old you will find this takes too much energy. I dont have the high energy any more.

even if you do not trade this method. I recommend you read this book. or at least the first half. you will learn from this book. I learned from the book.

GOOD LUCK

if you want to have a friend to talk to send me a private message with your email. I love to talk to traders. I will try to help you out. to make sure you are successful. there is a lot to learn about trading. do you have book 1 on scalping.
 
Thanks for your reply! I appreciate it. I am going to purchase book 1 now and give it a read. I'll PM you with my email once I get familiar with the trading method outlined in the book.

Do you still trade forex? Or have you moved to futures like a lot of other trades seem to have?
 
Hello Everyone

I am new to Forex trade, so I picked up Volman's book and learn. I tried to reproduce his suggested 70 ticks charts in EUR/USD but the chart I got from ProRealTime is very different from his book as attached. Is there anyone tell me what is wrong with my setting on the chart?
 

Attachments

Hello Everyone

I am new to Forex trade, so I picked up Volman's book and learn. I tried to reproduce his suggested 70 ticks charts in EUR/USD but the chart I got from ProRealTime is very different from his book as attached. Is there anyone tell me what is wrong with my setting on the chart?
Hi,
I have also started to learn Bob Volman's method.
You will need to "squeeze" the chart. Move mouse cursor to the y-axis hold down CTRL key and scroll down.
To see only the 20 levels horizontal lines only goto chart settings and choose Vertical scale density to Low.
See my chart attached.
EURUSD-70-Ticks-2019_01_16-13h07.png
 
Hi taw

Thank you for your advice. I think I did what was instructed, however, I still something isn't right. This is just because of the market? Please take a look at the attachment. Thank you.
Hi,

Are you talking about the chart colour? Otherwise it looks about right.Seems like slow market.
 

Ovitany

Junior member
14 2
He wrote 2 of books with orange cover and blue cover. I also have blue cover and confirm this is one of book to scaping forex market. Wish you have fun and improve knowledge.
 

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