Bob Volman Price Action Scalping

What brokers do u use ?
I'm at Intertrader (1pip on EU but there are some requotes).
IG Markets offers 0.8 pip with a minimum lotsize is 100k€.
There's also MahiFx with a fixed spread of 0.8 pip.
 
mynaus said:
What brokers do u use ?
I'm at Intertrader (1pip on EU but there are some requotes).
IG Markets offers 0.8 pip with a minimum lotsize is 100k€.
There's also MahiFx with a fixed spread of 0.8 pip.
Click to expand...

Hi,
I use fxopen. There is half pip commission and a spread that runs between 0.1 and 0.3. It happened that it goes over 0.5, but very rarely. Generaly i pay the equivalent of 0.7 pip per trade. They are good, and their feed data is extremely close to prorealtime's.
This is the ecn account. You need at least 1000$ on it though.
Hope it helps.
 
Hi all,

Could you guys review my trades and give me some advice on what I do wrong. Because there is definitely something wrong....
Here a my last trades of today, that are all loses, I have this kind of trade since a couple of days. I'm still in my neverending loss strike.
Do i have that much my bull**** in my eyes?
 

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I'm just a newbie so I won't comment your trades.
But my 5 trades today were all losers (some are the same as yours).
It seems the US shutdown / debt ceiling issue has killed the volatility on the EU (the daily range is about 40 pips since one week) and the method of Volman with a TP of 10 pips can't stand it. Moreover, since the EU is directionless, there are a lot of S/R around the price which makes it difficult to trade (according to Volman's method).
 
mynaus said:
I'm just a newbie so I won't comment your trades.
But my 5 trades today were all losers (some are the same as yours).
It seems the US shutdown / debt ceiling issue has killed the volatility on the EU (the daily range is about 40 pips since one week) and the method of Volman with a TP of 10 pips can't stand it.
Click to expand...

Yeah, tough week... Maybe we should just forget trading while the shutdown is still in place. I hope it is the market condition and not only me, and you as well, because if it is us, I don't see what's wrong in those trades, even though some might be a little aggressive, the price action looks right though.
We will see....
Thx for answering.
See ya
 
Kulpio and others..... Just my opinion for what it's worth before ever learning when to take a trade, you must learn when not to. Trading last week and so far this week has been pretty much nonexistent. There are a few good setups but they're very far between. You have to learn when to set on your hands. Look at the charts Kulpio has recently posted. By the way I'm not picking on you just ask for help some offer in my opinion I hope I'm not offending you. Look at the horizontal lines most of the day there is barely a 10 PIP range from the highs to lows. So it's just simple math we're looking to get 10 pips give up one or two on entry one or two on exit now you down to a maximum of six and that's if all goes well. Little fluctuation and smack your stopped out.
So it looks like until we get some type of catalyst to get the market moving again where best setting our hands instead of trying to take what the markets not willing to give. I know it's not easy it's hard. Today I was only able to spot one good entry it was an ARB at 930 Eastern time.
 
Hi Allen,

Thanks again for your opinion. Of course i'm not offended. Again, this my main problem, not to understand the general market condition, when our ''strategy'' is fit to the job (our 10 pip target) or not. When I see the price action, and the setup, I jump on it. I don't realise that the whole day it haven't traveled more than 10 pip, making our strategy useless. Because that is really the trick, the market might draw perfect ranges, nice squeeze, but the market won't be able to produce the ''burst'' and follow through because the market is dead...
Thanks again for your opinion and support. I haven't traded yesterday, and I think I will just sit on my hands, as you perfectly said, until the market starts to pick up. I'll be ready then ;)
Like a Ninja!!
Have a great day.
Kulpio
 
Haven't been trading much for the past month because the markets are kind of dead. Plus I had been discouraged by the fact that my last 5 trades had been losers. But Im glad the discussion is still alive and going well.
 
Giorrgi try not to be so easily discouraged. I have had far more than five losing trades in a row, five really doesn't seem that bad. As a matter of fact it's quite easy to have just five bed trades in a row. Now I'm not saying keep doing what you're doing and it doesn't hurt to have few rules. Most daytraders I know limit their selves to two losses in one day, in other words if they have two losses they have to quit trading for the day. The assumption is you may have missed overlooked something in your timing. But that doesn't mean quit completely. Close of trading software you're done with it for the day. Take a look at your trades that were losers to try to determine if there's something you're overlooking if it's not technical in the chart it might be news or some fundamental reason that you've missed. Another thing to consider is if your losses are bothering you most likely your position size is way too high. Cut your position size and half or more so that if you have some losers you're not emotionally affected. True your winners will be making as much but that's not what's important. The important thing is proper trade execution.




I finally was able to get in on a decent news trade setup today for a profit of 22.5 pips.
 
Traderallen, thanks for the support !

I am not even trading real money yet (cos I don't have any funds to invest), but I take paper trading seriously (too seriously?) because it represents my real level of understanding. Losers always erode confidence. A rule I am considering is to be REALLY cautious after I have more than two losers in a row.
 
mynaus, out of respect for the original topic of this thread I rather not get started too much talking about news trading or anything that's not FPAS related. I wouldn't want to hijack the thread. I don't mind sharing how I trade any other way so if you want to know feel free to go to my blog at WallStreet2easyStreet.blogspot.com I just left a rather windy description of how I go about news trading.

I was able to knock out another 10 PIP winner today, it was a standard range break.
 
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I had two tradable days last thursday and last friday.
Now, it seems the debt ceiling issue is making the market totally idle again.

Btw, the last week's trades from Bob haven't been posted. Any problem ?
 
Nice one Allen,

I just looked at it, but I was a bit freezed by how the market would react (follow through?) I wanted to come in the second RB, three bars before your entry. But your entry is actually better (Speaking of odds). Good for you!
Have a great day.
 
Keep in mind can't market conditions. Currently range breaks and ARB is where I have the most success if you're going to trade a pullbacks like a first break second break or DD at least make sure it's a 50% pullback of the last move for better odds in my opinion.
 
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