Panjm
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Traderallen
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And the Nov. 2013 numbers are in
DAY TRADE # TYPE WIN OR LOSE # PIPS NOTE
4 1 RB Win 11
5 2 BB Win 8
6 3 DD Win 10
12 4 ARB Win 6
13 5 ARB Lose -10
13 6 RB Win 13
13 7 RB Win 7
14 8 RB Win 6.5 Add @ DD
14 9 RB Win 10
15 10 NEWS Win 8
19 11 FB Win 11
20 12 NEWS Win 17
21 13 RB Lose -10 news trap
22 14 RB Win 11
22 15 RB Win 19
26 16 RB Win 9
28 17 RB Win 10
total pips 136.5
average 8.0
DAY TRADE # TYPE WIN OR LOSE # PIPS NOTE
4 1 RB Win 11
5 2 BB Win 8
6 3 DD Win 10
12 4 ARB Win 6
13 5 ARB Lose -10
13 6 RB Win 13
13 7 RB Win 7
14 8 RB Win 6.5 Add @ DD
14 9 RB Win 10
15 10 NEWS Win 8
19 11 FB Win 11
20 12 NEWS Win 17
21 13 RB Lose -10 news trap
22 14 RB Win 11
22 15 RB Win 19
26 16 RB Win 9
28 17 RB Win 10
total pips 136.5
average 8.0
Good job traderallen.
Well, not the same for me.
I took 55 trades with an average of -0.94 pips/trade (I trade approximately 4 hours/day, depending on my job).
That's better than in October which was my first month trading this method (-2.33 pips/trade).
I know the main area where I must improve: patience.
Well, not the same for me.
I took 55 trades with an average of -0.94 pips/trade (I trade approximately 4 hours/day, depending on my job).
That's better than in October which was my first month trading this method (-2.33 pips/trade).
I know the main area where I must improve: patience.
BLS
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Week 48 charts from Volman:
https://www.dropbox.com/sh/1amxmi9af0fk6ej/VA5_ZrjQF1
https://www.dropbox.com/sh/1amxmi9af0fk6ej/VA5_ZrjQF1
Traderallen
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I have a picture of every trade that I made. As soon as I close out a trade I immediately do a snapshot so I have a record of the exact chart set up. I recommend everyone do the same so you create your own book to study. You cannot go back later and look at a trade entry or exit, because tick charts always load from right to left so they'll always be slightly different each time you open a chart. Though the differences might be slight it's just not the same. When I get time later I will put a couple charts in my photo bucket account and link them here. In the meantime you can just go back and look at any chart that I've already posted. I trade the same methods and setups over and over and over so they're all similar.
matty_dunn
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Giorrgi
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Hey guys,
So I've been getting a long streak of losers again. There are a couple of reasons for this.
First one is that I can't concentrate all of my attention on the screen since I'm studying.
Second one is that I feel that I haven't really understood "overall conditions" yet. In that light I would like to ask anyone to chime in on some of my trades this week. Also here are the only things I seem to know about these "overall conditions" which remain sort of a mystery to this day:
1. Momentum setups don't work well : FB, SB, DD, even pullback ARBs.
2. Immediate continuation doesn't work well, even if it's a longer block, whenever there is a sharp move in one direction markets will stall for 1h or so before going back up.
3. Trade with the direction of the main trend
These are the only core rules I seem to understand so far. I really need someone to look at my charts and tell me what I'm doing wrong since all 4 trades I took this week, none of them were on Bob's charts. I must be getting "out of shape" (again... studying).
So I've been getting a long streak of losers again. There are a couple of reasons for this.
First one is that I can't concentrate all of my attention on the screen since I'm studying.
Second one is that I feel that I haven't really understood "overall conditions" yet. In that light I would like to ask anyone to chime in on some of my trades this week. Also here are the only things I seem to know about these "overall conditions" which remain sort of a mystery to this day:
1. Momentum setups don't work well : FB, SB, DD, even pullback ARBs.
2. Immediate continuation doesn't work well, even if it's a longer block, whenever there is a sharp move in one direction markets will stall for 1h or so before going back up.
3. Trade with the direction of the main trend
These are the only core rules I seem to understand so far. I really need someone to look at my charts and tell me what I'm doing wrong since all 4 trades I took this week, none of them were on Bob's charts. I must be getting "out of shape" (again... studying).
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Traderallen
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starting with your first comment in this is just my opinion. You can't watch the market all the time therefore you need to be familiar enough with the market your trading to know when moves are likely to occur. Also most programs have some type of alert feature. So try taking advantage of that and setting an alert just under where you foresee a possible signal candle forming. I do that all the time.
Understanding overall conditions I think is where a lot of people have issues with their trading methodology regardless of what they're using. I would suggest you first set down at your trading desk scrunch your chart of so you can see how the market your trading has been doing the entire day. If you see that the euro's been getting sold off all night consider only taking the short positions setups. The Eurodollar is traded heavily with fib bots. I think that's why Bob recognize in his book that the pullbacks entries work best when their 40 to 60% of the last move. So going into point number one for momentum setups work you need overall conditions to be in a momentum phase and only take those momentum setups. That appear in the 40 to 60% fib area.
Second thing you may consider until you become more skilled, lower your profit target to 3,6,or 9 pips. Do this until your accuracy in winning percentage gets up above 70% then start trying to grab a few more pips each time. Why you ask? Because let's assume you're going for 10 pips. If your broker has a two PIP spread you need each move to be 14 pips to get out of the market with your 10 pips. Take a look at the chart your currently trading measure each of those setups that have occurred or swings in the market if they are not 15 pips or more. Before they reach her stop out. You're asking for more than what the market is going to give at that moment. So try taking small bites at a time, keep your stops where they are. Which means you may be targeting three or six pips with a stop at 10. So your risk is more than your reward. But that doesn't matter because your win percentage will be much higher. The idea that's been taught to traders for years of one to one, two to one or higher risk reward ratio, is one of those reasons my so many traders washout.
Hope this helps to improve your trading.
BLS
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Week 49 charts from Volman:
https://www.dropbox.com/sh/1amxmi9af0fk6ej/VA5_ZrjQF1
https://www.dropbox.com/sh/1amxmi9af0fk6ej/VA5_ZrjQF1
Yorkshire Terrier
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matty_dunn
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After several years, I think I know the reality of the market but I can't find an edge trading only the charts. I trade the Volman's method since 2 months and I find that my (negative) performance is equal to the spread I pay to my broker.
So my question is: how can the Volman's method whose aim is not to have a statistical edge but to detect trapped traders be efficient with the tools it provides ? I find that finally I'm often amongst the trapped traders when I trade it.
The method has one merit: a clear TP and a solid rule to place the SL. So you can't lose much if you follow these rules.
But as a sum up, I find that this method doesn't give you a clear edge. It helps you being kept disciplined. What makes the difference is "feeling and reading the market". Which is an art and can't be shown in a book.
Anyway, I'm going on trading with this method.
Comments are welcomed.
So my question is: how can the Volman's method whose aim is not to have a statistical edge but to detect trapped traders be efficient with the tools it provides ? I find that finally I'm often amongst the trapped traders when I trade it.
The method has one merit: a clear TP and a solid rule to place the SL. So you can't lose much if you follow these rules.
But as a sum up, I find that this method doesn't give you a clear edge. It helps you being kept disciplined. What makes the difference is "feeling and reading the market". Which is an art and can't be shown in a book.
Anyway, I'm going on trading with this method.
Comments are welcomed.
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