Bob Volman Price Action Scalping

Scalping videos

Okay, I've started adding some trading videos to my blog at http://wallstreet2easystreet.blogspot.com don't expect them to be professional since I'm a trader and not a seller. Hopefully I can improve on them a little bit to make a more viewable. I could post the links here if I needed to but for time and simplicity I rather just keep it in one place. These first videos are just trials I'll try to add more useful information as time allows.
 
Traderallen said:
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.
Click to expand...

To be clear, are you able to place your market TTO with a single click. I am using MBT Desktop Pro and they tell me I can not do that, and the only way to do so is to use limit orders.
 
datamold said:
To be clear, are you able to place your market TTO with a single click. I am using MBT Desktop Pro and they tell me I can not do that, and the only way to do so is to use limit orders.
Click to expand...

I am assuming that were talking about ninja trader with MBT. When you launch ninja trader it will launch MBtrading navigator now you have two options you can trade with MBT navigator order entry or you can use ninja trader's order entry if you want trade market or limit TTO's you need to enter your orders through MBtrading navigator. when placing orders this way there are no issues and works as expected. If you're going to use the ninja trader order entry then there will be issues due to the fact that ninja trader stores the order on your computer and not on MBT's servers. When I place the orders I have two clicks one sets the order and I have to hit confirm so in reality it would be "click, click, I own it with TTO exits". I actually use the double-click to my advantage when I get a order setting up as it reaches my entry I click the buy button then a moment later if it triggers the entry I click confirm . It's only important to be this fast on a news trade entry. The entries using the methods discussed on this forum do not require rapidfire entries.
 
Hi guys,

I am new to the thread. I just purchased the book and working my way thru it. I had two quick questions regarding Prorealtime. One, are the charts set to a 1 pip increment per Bob's recommendation? I don't see any option to change this so I assume the answer is yes? And looking further down the line when setting up with a broker platform; does Nijatrader allow this as well?

And my second question is about the trade simulation/paper trading. Do I have to have the premium (220/month) service to have this feature? Ideally I would like to replay the US market open when I get home from work.

Thanks.
Rob

P.S. I looked on the Prorealtime site and could not find answers to these questions.
 
I saw your videos. Instructive.
What I've noticed is that you mainly enter when the trend has been confirmed.
More conservately than Bob Volman. But with an overall excellent performance.

Traderallen said:
Okay, I've started adding some trading videos to my blog at http://wallstreet2easystreet.blogspot.com don't expect them to be professional since I'm a trader and not a seller. Hopefully I can improve on them a little bit to make a more viewable. I could post the links here if I needed to but for time and simplicity I rather just keep it in one place. These first videos are just trials I'll try to add more useful information as time allows.
Click to expand...
 
loosewin said:
Hi guys,

I am new to the thread. I just purchased the book and working my way thru it. I had two quick questions regarding Prorealtime. One, are the charts set to a 1 pip increment per Bob's recommendation? I don't see any option to change this so I assume the answer is yes? And looking further down the line when setting up with a broker platform; does Nijatrader allow this as well?

And my second question is about the trade simulation/paper trading. Do I have to have the premium (220/month) service to have this feature? Ideally I would like to replay the US market open when I get home from work.

Thanks.
Rob

P.S. I looked on the Prorealtime site and could not find answers to these questions.
Click to expand...
I don't know about prorealtime. but I use ninjatrader through my broker MBtrading for free.
 
Did MB provide you with a license? Or are you talking about the free that Ninjatrader provides you? I want to get set up with Ninjatrader and MBtrading and just wondering what's the best way to do it. Is it simply a matter of downloading NT and using your MBtrading login info? Much thanks,
 
Last edited:
Traderallen said:
I am assuming that were talking about ninja trader with MBT. When you launch ninja trader it will launch MBtrading navigator now you have two options you can trade with MBT navigator order entry or you can use ninja trader's order entry if you want trade market or limit TTO's you need to enter your orders through MBtrading navigator. when placing orders this way there are no issues and works as expected. If you're going to use the ninja trader order entry then there will be issues due to the fact that ninja trader stores the order on your computer and not on MBT's servers. When I place the orders I have two clicks one sets the order and I have to hit confirm so in reality it would be "click, click, I own it with TTO exits". I actually use the double-click to my advantage when I get a order setting up as it reaches my entry I click the buy button then a moment later if it triggers the entry I click confirm . It's only important to be this fast on a news trade entry. The entries using the methods discussed on this forum do not require rapidfire entries.
Click to expand...

Thanks for clearing that up. Too many moving parts for me however.
 
loosewin said:
Hi guys,

I am new to the thread. I just purchased the book and working my way thru it. I had two quick questions regarding Prorealtime. One, are the charts set to a 1 pip increment per Bob's recommendation? I don't see any option to change this so I assume the answer is yes? And looking further down the line when setting up with a broker platform; does Nijatrader allow this as well?

And my second question is about the trade simulation/paper trading. Do I have to have the premium (220/month) service to have this feature? Ideally I would like to replay the US market open when I get home from work.

Thanks.
Rob

P.S. I looked on the Prorealtime site and could not find answers to these questions.
Click to expand...

Hi,

Prorealtime is set up so that the increment is 1 pip. You have nothing to set up.
And paper trading is available without a premium account thoughI would suggest to start with a demo account at a broker instead. But I'm afraid you misunderstood what paper trading is. You cannot "replay" a session. You can just place orders in real time AFAIK.
I don't know what are your skills in trading but be prepared for a long period of training. I've been using this method for more than 6 months now and I'm just only starting to be marginally profitable. Very far away from traderallen's performance. :D
Cheers and good trading.
 
Last edited:
loosewin said:
Did MB provide you with a license? Or are you talking about the free that Ninjatrader provides you? I want to get set up with Ninjatrader and MBtrading and just wondering what's the best way to do it. Is it simply a matter of downloading NT and using your MBtrading login info? Much thanks,
Click to expand...

I use the free version that you get when you click on the link from MBT partner program link from MBTs webpage. For it to sync correctly you have to use the correct version of desktop Pro. MBT's tech support can email you the correct version. There should are plenty of directions on the ninja trader forum. On how to connect with MBT. It may not be as easy as downloading and hitting a start button. But it doesn't cost anything either. So it's worth taking the 15 minutes to set up in my opinion.
 
Not sure how this works but here goes. I have been trading Volman method for a few months now and would love to share info
 
lenbartlett said:
Thanks myaus
Click to expand...

Welcome Lenbartlett,

Well, its pretty simple, post any questions you have and there will surely be someone who will have an educated answer for you. Make sure to download all the chart from bob volman since 2012 and to study them, because the market changed since he wrote the book, and you should be more conservative nowadays...
Here is the link: https://www.dropbox.com/sh/1amxmi9af0fk6ej/VA5_ZrjQF1
Have a nice week end.

Kulpio
 
Thanks Kulpio

kulpio said:
Welcome Lenbartlett,

Well, its pretty simple, post any questions you have and there will surely be someone who will have an educated answer for you. Make sure to download all the chart from bob volman since 2012 and to study them, because the market changed since he wrote the book, and you should be more conservative nowadays...
Here is the link: https://www.dropbox.com/sh/1amxmi9af0fk6ej/VA5_ZrjQF1
Have a nice week end.

Kulpio
Click to expand...
 
kulpio said:
Welcome Lenbartlett,

Well, its pretty simple, post any questions you have and there will surely be someone who will have an educated answer for you. Make sure to download all the chart from bob volman since 2012 and to study them, because the market changed since he wrote the book, and you should be more conservative nowadays...
Here is the link: https://www.dropbox.com/sh/1amxmi9af0fk6ej/VA5_ZrjQF1
Have a nice week end.

Kulpio
Click to expand...

In what way have the markets changed?
 
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...
 
You must log in or register to reply here.

Similar threads

F
Scalping USD/JPY using this method?
Replies
0
Views
2K
freedomnic
F
T
YM Scaple x Ticks SL & TP Guidance
Replies
0
Views
2K
Testpilot
T
G
Tomorrow's Trading Forecast - EUR/USD
3 4 5
Replies
87
Views
24K
gus
G
J
who is following Bob Volman Price Action Scalping technique?
Replies
2
Views
2K
jacksoggetto
J
3
price action trading, scalping CL
Replies
11
Views
9K
wbest
W
Top