Well, in the book, continuation trades like DD, FB, SB an BB were taken often. Nowadays, you better stick with RB unless very strong trends and textbook setups. See for your self in previous posts or in volman recent charts. Maybe they would still work, but surely for less than 10 pips... My opinion...
Well, in the book, continuation trades like DD, FB, SB an BB were taken often. Nowadays, you better stick with RB unless very strong trends and textbook setups. See for your self in previous posts or in volman recent charts. Maybe they would still work, but surely for less than 10 pips... My opinion...
Week 2 charts from Volman:
https://www.dropbox.com/sh/1amxmi9af0fk6ej/VA5_ZrjQF1
it's really will more a matter of understanding market conditions. You can only take what the markets willing to give. That is why you need to have a full understanding of all seven trading setups for FPAS. So you can understand and be ready when the markets trending pullback entries will work well when the market ranges rage breaks will work well. These are not rules but more like guidelines. Market conditions can change many times throughout the day since we are scalping. So give you quick example early-morning New York Time, US markets are closed. European traders are going to launch markets flatten out. When they come back from lunch and/or when the US market opens. The first trade may be range break from the lunchtime doldrums. However the next trade may be a pullback as volume kicked in and the market starts to trend for the US session.
You need to be accurate in determining current market conditions which is not hard markets are either making new highs and new lows, or they're not. Whichever they are doing expect them to continue doing just that until you see this change. You have to have enough screen time and/or know the market your trading to know when these changes are likely to take place. You need to know when markets open, markets close, news events come out, and when mandatory order flows should be kicking in. All these things are easier to learn since these times never change their the same every day every week. Nothing can replace screen time, yes again be boring. But it also sucks being a 9-to-5 job working for somebody else.
Thanks for the input. As a newcomer to this forum it would be helpful to know how you guys are doing. Are you making money on a consistent basis and if so do you follow the compounding plan as outlined in Volman's book?
Hi all, great to find this thread, I got a lot from this book. Still working on favorable conditions and wonder what some of the more experienced think of my reasoning in the attached.
I know the chart show 60 ticks but I try and align throughout the day using the ninjatrader ruler tool to roughly 120 bars an hour, I have just increased back to 70 ticks, and I take my trades with Dukascopy on a separate app
Good JOB garageboyFUJI! Keep focus on good trade setups and pips. you have a positive expectancy so keep improving.
I have 10 trades for the month for a total of 73.3 they were 6 RB/ 2 news/ 1 DD/ 1 50mag.
Just took a few minutes to show y'all how to trade from your hot tub okay will not necessarily from your hot tub but that's where I was. So if you think you need a lot of equipment to trade the wrong! Simple is better I've had some great success this week with nothing more than a touch screen laptop. Anyway I made a new YouTube video that should be ready in a few minutes. This is another description of an RB trade and also tipping points. It's titled "a range break trade" at my blog http://wallstreet2easystreet.blogspot.com For those of you who don't already know. Hope you find this informational and helpful.