Bob Volman Price Action Scalping

[virtuesoft]

Hi Guys: I just got referred to this site after reading FPAS for the first time. I was very pleased to find Bob's methods appear to fit with other price action trading I've been studying, which covers day trading methods but not specifically scalping. Now I've read FPAS once I need to make my own condensed notes on the methods during a second reading.

Does anyone have a set of digital images of the charts in FPAS please? I think Bob's extended chart commentaries are excellent, but I find turning back a couple of pages to the chart is a little distracting at times.

Thanks, Max

Hi Max,

Here is a zip file containing copies of all the charts in the book.

https://mega.co.nz/#!msYi0B7Z!cwtd4FezdpSFGsmxs7Zw52lIEscmSHKXoVBt3MWQBMw

These are photos that have been cropped, straightened and coloured. They're not perfect, but they're as good as I could manage. I hope they help.

 

[BLS]

Hello,

Please feel free to comment about the setups in the picture,

Thanks for sharing. I've been getting lazy with back-testing the sessions I don't trade and your post reminded that I did not have to wait until my live session to practice my analysis. What I usually do when evaluating trades setups pointed out by others (including Volman) is to block out all the bars to the right up to the last bar before the entry signal. I do this so decrease the amount of hindsight bias, though the hindsight bias will always be there.

I posted some charts on the setups you pointed out with my thoughts on it. Sorry if the comments seem like a repetition of your comments as I can't read Spainish. As for the DDs you pointed out, I find those to be quite aggressive. Entries like those can pay off if you've got a knack for guessing correctly when price will spike like it did that day but usually they are better skipped.

 

[maxr]

Hi Max,

Here is a zip file containing copies of all the charts in the book. ....

That's great, thanks very much Valuesoft! I'm having difficulty accessing Mega at the moment, I'll try again later. Do I need a decryption key or something to open files from Mega, or are these unencrypted?

Max

P.S. Anyone know if the Mega site is just overloaded (as at 24th January), or is it being blocked? Every page I try to access there bring up the hourglass in the browser then just hangs for ever.

 

[prometeo1984]

what's your pnl?

 

[BLS]

Today, I took 4 trades, 3 positive (2 full 10 pip, 1 scratched for 6 pip profit) and 1 DD completely stopped. I will post a chart were some of them are shown. Maybe u or the guys traded today, and have ur observations on some of these.

I thought that RB looked good at the time and tried to trade on it but I was having problems with execution program. I'm not sure about it in hindsight though. Price just kind of moves stepwise down through the bottom barrier. There isn't much of a "bounce"; there doesn't seem to be that much bullish fighting at the bottom barrier.

As for that DD, I think this is explained in the UC chapter, but I wasn't looking for continuation trades (yet) because of that false break of the 40 level from earlier.

 

[ptsnu]

I thought that RB looked good at the time and tried to trade on it but I was having problems with execution program. I'm not sure about it in hindsight though. Price just kind of moves stepwise down through the bottom barrier. There isn't much of a "bounce"; there doesn't seem to be that much bullish fighting at the bottom barrier.

As for that DD, I think this is explained in the UC chapter, but I wasn't looking for continuation trades (yet) because of that false break of the 40 level from earlier.

Regarding ur first pic, the RB, I watched that one aswell, as a matter of fact, that was one that gave me fill 10 pip. Yeah, in between pair level, 33 not the best. Between 40 and 60 I definitely would have liked it, but maybe between 20 and 40 is less dangerous?
One thing about it that gave me confidence, was that I spoted an accending pattern, ascending irregular triangle is maybe its name (those kind of pattern like are so similar that the name could be other, and Im currently studiying them, so if anyone knows the name, would be cool if u shared it), at the moment, I marked it with the blue segments.

 

[BLS]

I understand you are having problems with opening that trades, have you tried binding the key F9 from mt4 to a button on your mouse for fast access? Thats what I do.

I use a program called OneClicker for my executions. It interfaces with MT4 via it's own EA. I can set the window to be always on top so I have my chart in the background. I can have the SL/TP preset so it only takes one click to open and close my trades. I use some sticky paper to cover up the pip count since I tend to look at my paper profits and drive myself crazy. OneClicker seems to be having trouble getting the orders through to MT4 after the latest update but the Pro version (which costs $35 but I can't buy at the moment because the website selling it seems to be having problems) seems to work just fine.

Edit: Hmm, OneClicker is working fine on MT4 from another broker (I'm using Trader's Way).

Talking about executions, earlier this morning, I opened a trade, and I got filled 3 pips later. Usually a bad fill gives me 1 or 2 pips more in the worst escenario. On moments like this, feels like your work is getting damaged by plataform issues. Has this kind of bad filling happened to u b4? On that ocassion I was lucky that the movement of the market was 13 pips and not 10, but still, is not cool to have to rely on that. Also, do you know if there is another plataform for faster execution than mt4? I have heard direct plataforms created by the same broker might result a bit faster, but not sure.

I wouldn't worry much about it unless you notice it happening a lot. I might have gotten 3 pip slippage when the market was spiking but I don't really remember. I get slippage both ways and it seems to average out. I think the execution on MT4 largely depends on what the broker is using to connect MT4 to their own servers but I'm not too sure. Which broker are you using?

 

[ptsnu]

I use a program called OneClicker for my executions. It interfaces with MT4 via it's own EA. I can set the window to be always on top so I have my chart in the background. I can have the SL/TP preset so it only takes one click to open and close my trades. I use some sticky paper to cover up the pip count since I tend to look at my paper profits and drive myself crazy. OneClicker seems to be having trouble getting the orders through to MT4 after the latest update but the Pro version (which costs $35 but I can't buy at the moment because the website selling it seems to be having problems) seems to work just fine.
I wouldn't worry much about it unless you notice it happening a lot. I might have gotten 3 pip slippage when the market was spiking but I don't really remember. I get slippage both ways and it seems to average out. I think the execution on MT4 largely depends on what the broker is using to connect MT4 to their own servers but I'm not too sure. Which broker are you using?

I c, similar to you, I close the trade log so I dont see either pip counter nor money running, thats too distracting, specially when the trade begins red. I also use a miniapp to keep mt4 on the top.
Talking about SL and TP, today I still have these doubts:
1. Do you place 9 pips TP or 10 TP, (just to clarify) by this I mean, is 10 pip or 9 pip the distance between ur entry and the TP line?
2. Is the stop loss (either 10 or 9 depending on the answer to the first question) different depending if the trade is bull or bear due to the bid and ask price that the broker uses or you always use the same distance no matter the kind of trade?

I use Divisa Capital, and you?

 

[BLS]

I c, similar to you, I close the trade log so I dont see either pip counter nor money running, thats too distracting, specially when the trade begins red. I also use a miniapp to keep mt4 on the top.
Talking about SL and TP, today I still have these doubts:
1. Do you place 9 pips TP or 10 TP, (just to clarify) by this I mean, is 10 pip or 9 pip the distance between ur entry and the TP line?
2. Is the stop loss (either 10 or 9 depending on the answer to the first question) different depending if the trade is bull or bear due to the bid and ask price that the broker uses or you always use the same distance no matter the kind of trade?

I use Divisa Capital, and you?

What app do you use?

1. I use 10.8 pip target to account for the ~0.8 pip I pay in commission.
2. I use the maximum stop loss of 9.2, again to account for commission for all entries, long or short.

I'm using Trader's Way.

 

[BLS]

More charts from Bob

 

[matty_dunn]

More charts from Bob

Thanks Bob and BLS

 

[peppertree2]

Do you guys have a live trading room to discuss strategy and setups during market hours?

 

[BLS]

Do you guys have a live trading room to discuss strategy and setups during market hours?

No.

 

[ptsnu]

Good start of the week

 

[maxr]

Virtuesoft said:

Hi Max,

Here is a zip file containing copies of all the charts in the book.

https://mega.co.nz/#!msYi0B7Z!cwtd4FezdpSFGsmxs7Zw52lIEscmSHKXoVBt3MWQBMw

Thanks a million for posting all those chart scans, Virtuesoft, that saves us all a huge amount of work! The Mega site appears to be working normally now.

Max

(sorry guys, I should have PM'd this message, but I'm new here so don't yet have enough posting credits to do that)

 

[ptsnu]

Thx for the answer to the message BLS, I cannot write private message atm.

 

[ptsnu]

Good morning,
I just took this trade, for full TP.
I had my doubts at the beginning because of the width, 15 pips, but like Bob says, sometimes compressed ranges, that last long make for good odds.
I didnt find d a patter inside or b4 it but I liked the cluster that developed on the middle, so that encouraged me to take it.
Any reasons u guys see against taking it?
Thx,
ptsnu

 

[maxr]

I hope the comments below are self-explanatory. Which level would you have chosen as the upper range barrier, guys, and would you have been concerned about possible 50 level resistance?

I'm a rookie with Bob's methods, so if I post anything silly, please advise!

 

[ptsnu]

I hope the comments below are self-explanatory. Which level would you have chosen as the upper range barrier, guys, and would you have been concerned about possible 50 level resistance?

I'm a rookie with Bob's methods, so if I post anything silly, please advise!

Bob is clear about not wating for 50 zone to break, cause its a zone, not a specific level.

The very last line u draw I think definetely is not ok for the setup. The second, the one closer to the one I did draw, is probably better.

 

[ptsnu]

I hope the comments below are self-explanatory. Which level would you have chosen as the upper range barrier, guys, and would you have been concerned about possible 50 level resistance?

I'm a rookie with Bob's methods, so if I post anything silly, please advise!

Ah, and my entry was 1 pip below the one u are refering as 1st entry,