Bob Volman Price Action Scalping

[Yorkshire Terrier]

Got a day off work and heres my first trade for a wile IRB.

 

[Traderallen]

Septembers final score

final tally for the month
trade, type, win or loss
1 RB WIN
2 DD WIN
3 NEWS WIN
4 ARB WIN
5 DD WIN
6 BB WIN
7 DD WIN
8 ARB WIN
9 ARB WIN
10 ARB BE
11a RB loss
11 DD WIN
12 ARB WIN
13 ARB WIN
14 NEWS WIN
15 RB WIN
16 RB WIN
17 RB WIN
18 GAP FILL WIN
19 RB WIN
20 RB WIN
21 RB BE
22 DD WIN
23 DD loss
24 RB WIN
25 RB WIN
26 GAP FILL WIN
27 RB WIN
28 BB WIN
29 RB WIN


Here is the last. What a nice way to cap off the month.

 

[kulpio]

Congratulation Traderallen! Your results are just amazing, bravo.

 

[BLS]

Week 39 from Volman:
https://www.dropbox.com/sh/1amxmi9af0fk6ej/VA5_ZrjQF1

 

[matty_dunn]

Week 39 from Volman:
https://www.dropbox.com/sh/1amxmi9af0fk6ej/VA5_ZrjQF1

Thanks Bob and BLS

 

[Traderallen]

Thanks kulpio , it is not an easy task we are trying to accomplish. I use the accounting method Bob describes however I also add to my account size with each successful month. So my trade volume goes up at the first of the month. This adds a little stress to the first few trades on the month. Good trading to all if you. Allen

 

[kulpio]

THank you Bob and BLS!

Traderallen, you're right, it isn't easy for anyone trying to make it. The way you add volume on top of regular accounting must really pump your account up when you are as profitable as you. I can understand the added stress, but I won't worry for you though !!

 

[Traderallen]

WHAT... its my day off

I had no plans to trade today but the setups were there so I took a couple. My chart notes show the importants or the 00 and 50 levels. As Bob says "let other traders do the dirty work"
http://i250.photobucket.com/albums/gg264/traderallen/sep31note1_zps17c1d43f.jpg
http://i250.photobucket.com/albums/gg264/traderallen/sep31note2_zps11f06823.jpg

 

[kulpio]

Hey Allen,

When i was looking at your chart, I saw that our feed is dramatically different.... And it looks like on your chart the setups looks better defined. Like your first trade and the DD.
It also seems you have much more bars... here is the same chart but on ProRealTime.
Weird, no?
Good trading!

 

[Traderallen]

Big difference in data feeds

It seems most everyone likes to use the Pro real-time charts which is probably not a bad thing since it makes it easy to follow along with what we've learned from FPAS. I use the free version of ninjatrader that is offered through my broker. I've noticed from the beginning my charts never matches Pro real-time charts sometimes they're hardly close. As you pointed out with that little doji trade today, looking at your chart it doesn't really even appear. That's what happens when you have a decentralized market. I've tried to make my charts match closer by changing my tick setting to around 100 but I ended up spending time trying to perfect it and finally said screw it and just leave it 70. The chart I posted earlier I scrunched up a little bit to get my notes in for you all to see. Here is a snapshot of the exact chart I was looking at while in the trade. Every time I close the trade I take a screenshot of the chart and added to my notes so I can go back and review them. When I have time I videotape my trade live using cam studio so I can go back and review every aspect of my trade.
As Bob said and I agree it doesn't really matter closes close enough. Looking at your chart I see some good setups on there that could have been taken.
I mentioned your comments to my wife and she replied. Honey, what you're doing is working don't change anything.

 

[mynaus]

My first serious session. Not very successful.

 

[Traderallen]

I hope you dont get mad for my saying

But here is what I see......
http://i250.photobucket.com/albums/gg264/traderallen/Hummmmm_zpsd9c605a7.jpg
Good job at trade management BTW

 

[mynaus]

Yep. I need to be more rigorous on the design of the boxes.

Thank you for your analysis.

But here is what I see......
http://i250.photobucket.com/albums/gg264/traderallen/Hummmmm_zpsd9c605a7.jpg
Good job at trade management BTW

 

[mynaus]

Day 2

Not enough tension in the second block. But there was a little trend

 

[kulpio]

Not enough tension in the second block. But there was a little trend

Welcome Mynaus, and good luck to you in this hard journey we are heading to

Here are my two trades for today (maybe more will come...)
I've passed through a very tough time this last month. I lost a lot (almost 20 % of my account). Most of it were lost in two situations: In the heat of a News report, were I was seeing trades all over the place, were there was none. And in times were I wanted my money back from this evil market that just ripped me off. I lied to myself, finding excuses after each non-valid trades.
But in the last days, I am getting my self back on track. I am still waking up at 5 am, but instead of looking to make money, I am just contemplating my chart. It feels great to escape from this horrible state of mind (of greed and hurt feelings), that can span between 1 min, to a month, like I have experienced recently. Every day I was trading, I was in to get the money lost the day before. The same the next day. How devastating it can be!!!! I was always managing my trades well, but I was just taking trades that were absolutely not valid in any respect, except that there were ''some'' tension, but nothing valid.
I am now also doing some yoga exercise before my trading session and every time I feel tensed (because I should never feel tensed by simply looking at those sweet little candles marching on my chart).
I have deleted all my previous historical data to stop looking at this stupid and destructive line that tells me, to the cent, how much I lost.
I have also brought my volume to the minimum my broker allows me to trade with (0.1 mini lot). October is my stress test If , and only if, I am profitable, I will bring my volume back to 1% risk. And in January I will start to trade at 2 percent, if I manage to be consistently profitable over the next three months.
Here we are. Sometime we have to kick our selves, especially in a world (the trading world) where there is no rules at all. Or it is too easy to end up fooled by our own feelings.

As always, I like to use this forum as a psychotherapeutic session

Have a great to you all!

PS: I have also found out that using the black and white candles and the very compressed chart (like Bob Volman uses) helps me to not get too excited in front of a big move, and the colors helps as well. I don't know why, but psychologically it is less full of ''action''. Especially when there is none. I don't see the ultra micro setups that means nothing, but more the real important and meaningful ones. Whatever works to trick my evil side I have also downloaded all charts from Bob Volman from the beginning he started to post, around september 2012, and I am reviewing them all, a bit every day.

 

[kulpio]

Not enough tension in the second block. But there was a little trend

Au fait, vous etes Francais?
Au cas ou vous souhaitez enlever la barre en haut de ProRealTime qui montre votre portefeuille demo et qui prends 10% de la fenetre, vous pouvez aller en haut a droite de la fenetre d'option, clickez sur Demo, et il devrais y avoir a gauche un boutton ''cacher'' (c'est ''Hide'' sur la version Englaise). Juste au cas ou vous en aviez marre...

Bonne journee a vous

Kulpio

PS: par rapport a vos trades, la deuxieme trade est assez agressive, non seulement a cause du manque de tension comme vous l'avez dit, mais aussi avec le ''low'' en bas a gauche qui pouvait etre un obstacle. Voila mon avis personel

And If you are not french, then too bad.... you won't know sh+*t haha
Just joking, I'll translate it if so.

 

[mynaus]

Au fait, vous etes Francais?

Yes, I am . So we share two things: the French nationality and the difficulty to extract money from the market.
These days, I find it difficult to trade the EURUSD because of the low volatility (due to the US shutdown). It seems the market is less technical and more prone to the influence of the news.

Btw, you're right with the compression of the graph. It's so easy to overtrade.

 

[kulpio]

Yes, I am . So we share two things: the French nationality and the difficulty to extract money from the market.
These days, I find it difficult to trade the EURUSD because of the low volatility (due to the US shutdown). It seems the market is less technical and more prone to the influence of the news.

Btw, you're right with the compression of the graph. It's so easy to overtrade.

Sorry if it was a little odd to start to write in french...
Yea indeed, the market is pretty quiet, and it often lacks of follow through when breaking a range. I guess we have to deal with it.... Have you checked Bob Volman's recent trades? It is quite different from the charts from the book, since the market is never the same.... He takes almost no continuation trades, and almost just RB and ARBs. But as Traderallen said, there is chances that continuation setups will become more profitable around the end of the year and beginning of the next as volume will start to pick up.
Have a great day.
kulpio

 

[Traderallen]

Find a boss

Sometime we have to kick our selves, especially in a world (the trading world) where there is no rules at all. Or it is too easy to end up fooled by our own feelings.

here's a tip that I don't think Bob covered in his book. Of course we all have rules that we follow that we have no one to be accountable to since we have no boss. Therefore it's very easy for us to bend and break our rules. So here's a way to keep you honest and following your rules. Make yourself accountable to someone your wife, brother, sister, or friend. Someone you can explain to them what you do and how you do it and what your rules are. they don't have to completely understand. They just have to know enough to see when you broke a rule or when you're trying to cheat on your profit and loss statement. This will keep you honest and following rules and also keep you out of some of those stupid trades that you're going to have to explain why you broke the rules on entering your trade.
It's a known fact that proprietary traders make millions when they're working for a firm and have someone they have to answer to, then soon as they got on their own they blow up their account. Hope this helps. Allen

 

[kulpio]

Hi Allen,
Thanks for your tip. Indeed, i should do that, and i will. Thank you for all your help.
Have a great week end!