IMHO, there is an obvious support at 1.364 on the left of the chart.
IMHO I would say that the prices went directly from top to bottom and chances to see a followthrough are very small.
Hi,
Mine are not better than yours. It's actually a little bit worse.
And I'm trying since July now, so almost 5 months.
Traderallen
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To answer your second question first. You are correct in your observation, volatility is probably the most misunderstood thing about trading. Almost 100% of the time I will leave my stop at 10 pips. that's because I typically place trades when volatility is high so I need the extra wiggle room not only to give enough time for the trades to work in my favor but also to increase my win/loss percentage. To answer the first question I do typically only trade when the markets moving. You can't be at your computer well at least I can't be at my computer 24 hours a day. So I study the market I know when the Eurodollar is likely to move. I start my observation and usually by the time I get a trade set up and entry signal I'm already expecting with high probability a move in that direction. If I were to trade during times of lower volatility I would follow more closely to the tipping point techniques. That being said I still use the tipping points just as they taught I just allow a little extra room.
BLS
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Week 51 charts from Volman:
https://www.dropbox.com/sh/1amxmi9af0fk6ej/VA5_ZrjQF1
https://www.dropbox.com/sh/1amxmi9af0fk6ej/VA5_ZrjQF1
matty_dunn
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BLS
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Week 52 charts from Volman:
https://www.dropbox.com/sh/1amxmi9af0fk6ej/VA5_ZrjQF1
https://www.dropbox.com/sh/1amxmi9af0fk6ej/VA5_ZrjQF1
matty_dunn
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Traderallen
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like taking candy from a baby (only more stress)
I love to trade and managed to get in a few more over Christmas while the wife was cooking so here is the new total for the month. this gives me a total profit of 107% in 5 months on am account dedicated to this method.
DAY TRADE # TYPE WIN OR LOSE # PIPS
4 1 RB Win 32.9
5 2 SB Win 10
5 3 RB Win 7
6 4 News Win 16.6
9 5 BB Win 14
10 6 RB Win 12
11 7 SB Win 5
12 8 RB Win 6
12 9 News LOSS -10
16 10 RB Win 12
18 11 RB Win 14
19 12 BB Win 6
20 13 RB Win 9.1
20 14 DD Win 8
23 15 RB Win 10.3
30 16 RB Win 10.6
total pips 163.5
average 10.2
I love to trade and managed to get in a few more over Christmas while the wife was cooking so here is the new total for the month. this gives me a total profit of 107% in 5 months on am account dedicated to this method.
DAY TRADE # TYPE WIN OR LOSE # PIPS
4 1 RB Win 32.9
5 2 SB Win 10
5 3 RB Win 7
6 4 News Win 16.6
9 5 BB Win 14
10 6 RB Win 12
11 7 SB Win 5
12 8 RB Win 6
12 9 News LOSS -10
16 10 RB Win 12
18 11 RB Win 14
19 12 BB Win 6
20 13 RB Win 9.1
20 14 DD Win 8
23 15 RB Win 10.3
30 16 RB Win 10.6
total pips 163.5
average 10.2
Traderallen
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Hats off to video makers and movie stars
I have been trying to make a video of my trades worthy of sharing. I have found this to be difficult. I video a lot of my trade when I'm trading on my main computer but there is nothing more than moving screenshots. When I we record a recorded trade and try to talk my way through the trade on what I'm thinking at the time. I find it really difficult to do without stuttering or having a loss of words, and in the sounding like a idiot. I'll keep trying until I get something I'm happy with. Maybe just go through some pictures of my past trades (I screenshot everyone) and had a note to them.
I have been trying to make a video of my trades worthy of sharing. I have found this to be difficult. I video a lot of my trade when I'm trading on my main computer but there is nothing more than moving screenshots. When I we record a recorded trade and try to talk my way through the trade on what I'm thinking at the time. I find it really difficult to do without stuttering or having a loss of words, and in the sounding like a idiot. I'll keep trying until I get something I'm happy with. Maybe just go through some pictures of my past trades (I screenshot everyone) and had a note to them.
A really good initiative
But don't get too perfectionnist. Even some annotated pictures will be very valuable.
And a happy new year to every Volman's method trader :clap:
But don't get too perfectionnist. Even some annotated pictures will be very valuable.
And a happy new year to every Volman's method trader :clap:
Hey Traderallen,
I've been reading your posts for awhile and I like much of what you have to say. I have not been posting to this forum because I have been working on a futures trade based on the Volman methods, and I did not want to be off topic.
One of my concerns is the concept of the 10 pip target. In my experience you cut off any chance of scoring a fat tail when you do that. I notice that you have reached the same conclusion.
Much of trading is psychological and for me that means getting enough trades in a reasonable time to internalize the setups and conditions. When I began experimenting with the Volman method in week 7 of 2013 there were plenty of opportunities. By week 18 I was confident enough to open an account with MB trading and begin live trading. But around that time the market seemed to flatten out and hours would go by between setups. I don't know why but this continues to persist.
During those long lulls I began to experiment with using this method with various charts of the E-mini S&P 500 or ES. I settled on a 1,000 tick chart and began SIM trading it in Week 26. I am using the Volman almost exactly per the book with one major exception: I have no price targets. I enter with a 5 tick Stop loss and stay in the trade until a tipping point is reached. By week 45 I had convinced myself that this was good for me so I suspended my FOREX trade and began trading the ES in my Tradestation account. I suspended trading an 12/20 and have been conducting a review of the data I have acquired since week 45.
To make a long story short I am convinced enough that this is the way to go for me. My data (from 208 trades) tells me that I really can "see" a good trade and thus I am best served by taking every trade matches my perceptions. So beginning Jan 6th I will be aggressively trading it. My expectation is to achieve double digit monthly equity growth.
My reasons for this post are:
1. To thank you for your contributions.
2. To thank Bob for his weekly charts which I always review.
3. To provide encouragement to my fellow aspiring traders.
4. To make the case that Bob's method is applicable to other markets.
5. To see if anyone else has branched out.
In addition to this I have a concern I wish to share with you regarding MB trading. I chose MB trading primarily because it is a reputable US firm with some SEC safeguards. I did not use my Tradestation broker because the spreads were too wide for a 10 pip scalp, and I was getting 1-1.5 pip spreads with MBT. That said the order entry methods in the MBT desktop pro platform are a problem for me in that it will not allow me to enter a market order with OSO stop loss. So I have to scramble to place my protective stop. I use that platform strictly because once the stop is in place it resides on the brokers platform. At that point I have insured myself of my maximum loss. In my research I could not find a trading platform for MBT that was not a client based system. I would use Ninja Trader, but if my connection is broken or my machine freezes up or a natural disaster occurs I feel I am at risk for a major loss. Maybe even the entire account. I am only OK with this for a small account, but the whole purpose of all this is to increase position size as one becomes proficient.
Based on your posted results I think you are ready to begin trading larger size, in you have'n already. I wanted to give you a heads up on the client based stop thing in case you were not aware of it. But I sense you are a seasoned trader and perhaps You have factored that in. In which case I would love for you to share your thoughts on the subject.
All the best, and good luck in 2014!
Yorkshire Terrier
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Thanks to Bob for all the charts this year they have been very helpful, and thanks to Bls for forwarding them. :smart:
I would also like to wish all forum members a prosperous 2014 all the best . Jeff
I would also like to wish all forum members a prosperous 2014 all the best . Jeff
Traderallen
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Obviously it would be great if every trade was a home run. I think the importance of having a 10 pip target is to keep in mind that with this method we are scalping. So keep in mind what scalping is. The idea scalping is not to catch the bottom or the top or most of a move. The idea of scalping is to see a move in progress jump in grab a piece of the move and jump out. In doing so we are able to have a high win percentage and very few losers. The edge comes in the fact that we are trading what is going on right now that we see. We are not trying to guess what's going to happen in the future as with most types of trading.
As far as using MB trading as a broker, I've been using them since 2005. Prior to that I had several other brokers and what I found is my order fills are much better with MBT. Most people I think never realize how important your order fill is. When I first got Bob Volman's book last year and was reading that I needed a four digit 70 tick chart I started looking around for one. MB trading does not have at this time any way of creating a four digit chart. However they did partner with ninja trader which does have four digit 70 tick charts. There are some other options but at the time since I'm just learning I did not want to put any expense to the project. And since I could use ninja trader for free as my broker partner that is what I started working with. A friend of mine owns the full version of ninja trader with it there are many more options such as chart trader that is not available on the free version I use. Eventually I will switch over to the full version. The one thing that I become comfortable with is when I launch ninja trader it launches and be trading navigator. When placing orders through navigator is the same as using desktop Pro. The orders are placed directly on and be trading service so if I want I can place my order as a market TTO or limit TTO and turn my computer off. The trade was still be in place and once entered will sell at either the profit or loss limits. This way just as you were talking about don't have to worry about power failures network issues or computer malfunctions. You can also fill out the paperwork from MBT trading for a second login so I can run desktop Pro on another computer at the same time. By doing this I can take advantage of chart trading for dragging my orders around.
The only other way to get around the problems and worries of computer failures would be to purchase a virtual private network and run your ninja trader or desktop Pro on it. This is an advantage as well and that the VPN that MBT reading contracts with his right across the street from their office so your order is held feet from where the executed. This would eliminate a few milliseconds of lag time as in my case living in Ohio 2000 miles from California.
Making sure your order gets filled at the correct level is very important as your position size increases Bob's method of position sizing is very well-planned and best for most traders and a highly recommended. I use a slightly more advanced version called optimal F. But I think for simplicity most traders should still stick with Bob's method it's easy to understand. And very vital to profitable trading, position sizing is one of the most overlooked aspects of trading and why most traders fail.
As far as using MB trading as a broker, I've been using them since 2005. Prior to that I had several other brokers and what I found is my order fills are much better with MBT. Most people I think never realize how important your order fill is. When I first got Bob Volman's book last year and was reading that I needed a four digit 70 tick chart I started looking around for one. MB trading does not have at this time any way of creating a four digit chart. However they did partner with ninja trader which does have four digit 70 tick charts. There are some other options but at the time since I'm just learning I did not want to put any expense to the project. And since I could use ninja trader for free as my broker partner that is what I started working with. A friend of mine owns the full version of ninja trader with it there are many more options such as chart trader that is not available on the free version I use. Eventually I will switch over to the full version. The one thing that I become comfortable with is when I launch ninja trader it launches and be trading navigator. When placing orders through navigator is the same as using desktop Pro. The orders are placed directly on and be trading service so if I want I can place my order as a market TTO or limit TTO and turn my computer off. The trade was still be in place and once entered will sell at either the profit or loss limits. This way just as you were talking about don't have to worry about power failures network issues or computer malfunctions. You can also fill out the paperwork from MBT trading for a second login so I can run desktop Pro on another computer at the same time. By doing this I can take advantage of chart trading for dragging my orders around.
The only other way to get around the problems and worries of computer failures would be to purchase a virtual private network and run your ninja trader or desktop Pro on it. This is an advantage as well and that the VPN that MBT reading contracts with his right across the street from their office so your order is held feet from where the executed. This would eliminate a few milliseconds of lag time as in my case living in Ohio 2000 miles from California.
Making sure your order gets filled at the correct level is very important as your position size increases Bob's method of position sizing is very well-planned and best for most traders and a highly recommended. I use a slightly more advanced version called optimal F. But I think for simplicity most traders should still stick with Bob's method it's easy to understand. And very vital to profitable trading, position sizing is one of the most overlooked aspects of trading and why most traders fail.