Ok...but he quoted my posts....I am defenitly confused
Ok...but he quoted my posts....I am defenitly confused
Hi Kulpio,
Don't waste another neuron on those guy's posts. His bitterness is directed towards everybody who doesn't trade like him. He's convinced he "holds the truth".
Hope to see more charts from you.
Cheers,
Keen246
I too have started trading this method. Im very happy to have found this forum. If I could post a chart or two of trades I do with permission from the OP I would love to get cretiqued on what went wrong and what went correct.
As of right now im just under breakeven with the method. I've only put the use of the method for about a week now. I can only trade the Asian session which has its volume challenges. Ive been trying to use the system on the usdjpy, audjpy to try and make up for the volume issues. Heck, I think this week alone just had no volume in much of anything anyways. Im sure it will pick up in September when the institutions are back from their vacation.
I've only read Bob's newiest book and have been applying it to the 70tick chart. I have the old book being shipped and arriving this weekend. Which ive read is kind of a diffrent book. From a price action perspecitve its probably very similiar in its own way. I've been trading for awhile so I do know context and structure. I'm just new to scalping as my life has changed where a scalp method will be better suited.
Question for those that trade this method that may help me till I get a better understanding.
Stops: Age old question, I know theres rules based on resistance and reversal levels. However if a trade never really shapes up in the direction and never really starts making positive pips, yall exiting or letting that stop trigger. I ask because in the environment lately I feel like were fighting for 3 pips and a 5-10 pip stop is a crusher to that 3 pip profit. Only question I have for the moment.
As of right now im just under breakeven with the method. I've only put the use of the method for about a week now. I can only trade the Asian session which has its volume challenges. Ive been trying to use the system on the usdjpy, audjpy to try and make up for the volume issues. Heck, I think this week alone just had no volume in much of anything anyways. Im sure it will pick up in September when the institutions are back from their vacation.
I've only read Bob's newiest book and have been applying it to the 70tick chart. I have the old book being shipped and arriving this weekend. Which ive read is kind of a diffrent book. From a price action perspecitve its probably very similiar in its own way. I've been trading for awhile so I do know context and structure. I'm just new to scalping as my life has changed where a scalp method will be better suited.
Question for those that trade this method that may help me till I get a better understanding.
Stops: Age old question, I know theres rules based on resistance and reversal levels. However if a trade never really shapes up in the direction and never really starts making positive pips, yall exiting or letting that stop trigger. I ask because in the environment lately I feel like were fighting for 3 pips and a 5-10 pip stop is a crusher to that 3 pip profit. Only question I have for the moment.
Welcome rkinman,
It is true that we should see more volume by the end of August and beginning of September. Bob's system is not easy and if you are already at breakeven, you are doing pretty good (much better than I did
Regarding the stops, you will have a good idea on how to in Bob's first book in the charter called "Tipping point technique). I think this is the best way to exit or place your stop. Personally, I never take a trade if I can't place my stop lower than 6-7 pips (if really in a good setup).
Good luck
Best
Kulpio
It is true that we should see more volume by the end of August and beginning of September. Bob's system is not easy and if you are already at breakeven, you are doing pretty good (much better than I did
Regarding the stops, you will have a good idea on how to in Bob's first book in the charter called "Tipping point technique). I think this is the best way to exit or place your stop. Personally, I never take a trade if I can't place my stop lower than 6-7 pips (if really in a good setup).
Good luck
Best
Kulpio
Welcome rkinman,
It is true that we should see more volume by the end of August and beginning of September. Bob's system is not easy and if you are already at breakeven, you are doing pretty good (much better than I did
Regarding the stops, you will have a good idea on how to in Bob's first book in the charter called "Tipping point technique). I think this is the best way to exit or place your stop. Personally, I never take a trade if I can't place my stop lower than 6-7 pips (if really in a good setup).
Good luck
Best
Kulpio
I have been using price action for awhile so its very natural for me to pick up his method. The part im not used to is using a small timeframe etc. Im finding that some trades im getting out with a small profit, however the commission is negative which puts me down as a loss in the books. Thats the hardest thing im finding with scalping at the moment.
So I finally got the original book today. I have notice between the books its almost two separate ways of trading. The second book can be applied to more than just the 5min time-frame yet also the 70 tick chart. If trading the 5min as per the newer book Bob has expanded his profit targets to 20 pips with 10 pip stops. Its like Bob took the original method and then added some new methods you can or could use in trading on the original method. I have not yet read the original price action scalping book yet, but just thumbed through the chapters. Do understand I could be wrong on a few things. Both books still get into the box methods and using the 20 or 25EMA for pressure setups. What I’m finding in the newer book is that Bob starts introducing pattern breaks as setup. Drawing wedges or support/resistance in against trend correction back to the 20 – 25EMA. This I like, for I’m thinking that in the Asian trading session which is the only time I can trade will help get in setups earlier. Volume is a lot less in that period and I’m having to scale back the targets a bit. This is helping me get that extra needed pip. The only down side I currently see is a pattern break turning into a box. Where price doesn’t break the low but just bounces off the previous lows resistance creating a box. Long boxes can test your patience, but thankful a pattern break should have you in the upper end of the box if done correctly for example. This method will have you entering pullbacks easier in rising trends as well I think.
Hi Keen246,
Yeah I know, I won't now!.....thanks for the support
Just back from vacation, will post on next week
Best,
Kulpio
Pressure is still on the 70tick. Were currently riding the 20EMAs on the higher time-frames. At the moment im a little bullish the pair while the 1 hour is holding with the 20EMA. I do have pivots up as im testing to see how they react as support and resistance lines currently. like the same affect round numbers do.
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Week 32 2016 charts from Volman:
https://www.dropbox.com/sh/1amxmi9af0fk6ej/VA5_ZrjQF1
https://www.dropbox.com/sh/1amxmi9af0fk6ej/VA5_ZrjQF1
Been reading the book more. It is almost two diffrent books between the 1st and second book. Bobs first book is much easier to read. The second book is somewhat the same style trading but I think he had to adapth the concept to 5min charts. Which requires larger 20 pip profit and allot more drawing structure on the price. There are other concepts like pattern break etc. Does bob trade the orginal method more or the new one? Hes still posting the 70tick charts for us so im assuming the old?
Not sure if its been touched on before in this discussion but I did notice Bob uses the term contracts allot. So I did some research on trading this in the futures market. In the newer book Bob does talk about other instruments etc all which are futures and currencies pairs that are activily traded via the CME.
Im curious if anyone has made the switch over to futures with this strategy and noticed a more positive environment or not? My spreads are pretty good with my broker, however im seeing with a discount futures provider the commssions are way less in the futures market. If I can make this work in my current environment, im seriously thinking about switching over.
Not sure if its been touched on before in this discussion but I did notice Bob uses the term contracts allot. So I did some research on trading this in the futures market. In the newer book Bob does talk about other instruments etc all which are futures and currencies pairs that are activily traded via the CME.
Im curious if anyone has made the switch over to futures with this strategy and noticed a more positive environment or not? My spreads are pretty good with my broker, however im seeing with a discount futures provider the commssions are way less in the futures market. If I can make this work in my current environment, im seriously thinking about switching over.
Hi Rkinman,
His first book is easier to read but I found that the second is more precise on the patern breaks. It is really like a "level 1" and "level 2" book serie. They complement very well each other, and I eould never really understood the second one without the first. But the secobd one more accurate to the current environment.
I think he still trade mostly the 70tick, but maybe that is what he just uploads.... Maybe he got 10 opened charts in different timeframe or market
I've had the same questions as you regarding futures. I'd like to look more into it too, especially if commisions are lower.... What broker do you use for fx right now? I use fxopen. Including spread and commision, a trade costs me appx. 1.1pip
I'm gonna look a little into futures...
Best
Kulpio
Hi Rkinman,
His first book is easier to read but I found that the second is more precise on the patern breaks. It is really like a "level 1" and "level 2" book serie. They complement very well each other, and I eould never really understood the second one without the first. But the secobd one more accurate to the current environment.
I think he still trade mostly the 70tick, but maybe that is what he just uploads.... Maybe he got 10 opened charts in different timeframe or market
I've had the same questions as you regarding futures. I'd like to look more into it too, especially if commisions are lower.... What broker do you use for fx right now? I use fxopen. Including spread and commision, a trade costs me appx. 1.1pip
I'm gonna look a little into futures...
Best
Kulpio
Kulpio,
Right now im using FXCM. During the asia session which I tend to trade its 0.5 pip on the EURUSD for example (.02 during uk/us). Commission is .04 per side on 1000k traded. With 1 lot traded that $8.00 + $5.00(0.5 spread) = $13.00 total cost after order is closed. Now since your using prorealtime and dont need a fancy platform, just trade entry I was looking at "generic trade broker" for a futures platform. This is a no bells and no whistles broker. Its strictly an execution platform. So with a tight spread on the CME platform that wont raise spreads to stop you out and the broker commission of $0.59 cents a per side on a contract. That's me guessing $5.00 spread + $1.19 commission + 0.20cents NFA fee. Now there are additional fees, however my firewall wont allow me to open those links on the page while im at work. I havnt tested their platform so im not sure if their free web platform will work for quick scalping yet or not. If you happen to be able to pull of the fee structure better than I can currently id love to know what a total cost is with them. Work computer is strict with the security.
I also looked at AMP Futures as well. The commissions are higher, howerver you get allot more tools for your trading toolbox. Including the use of some very good platforms for free. For example Multicharts which also had tick data. not sure how it compares to pro realtime. I have to do allot of research to see which mix and broker works best for me.
Heres what I do know based on commissions from different forex brokers. If your forex commissions are starting to exceed $8.00 round turn, then the futures market will start to save you on that regards. I see allot more people scalping on futures then I do on spot forex. I think that's because the CME runs a highly regulated feed that is the same for any player. Not a special server that splits institution and retail like spot brokers do. So price getting 0.4pips to your stop wont trigger like it does on retail spot broker.
Rob
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Week 33 2016 charts from Volman:
https://www.dropbox.com/sh/1amxmi9af0fk6ej/VA5_ZrjQF1
https://www.dropbox.com/sh/1amxmi9af0fk6ej/VA5_ZrjQF1
Why can't anybody post trades or charts?
There is only beginners here at best. Asking beginner questions about brokers or spreads etc.. Where is the discussion about trading?
Maybe it is because over a long period with many trades placed, it would appear to me that this is a break even method, and as I have improved to becoming profitable through other methods -my bull**** filters in regards to trading have also been refined.
There has been nothing offered here except hindsight analysis. This is something that a child is capable of.
Bob's charts do not say very much and they are full of contradictions. Its ok though -we can use our imaginations as to what and why he does what he does. Except for the fact that we have no proof that any of the trades on the charts are even placed. Sometimes changing the way things are viewed to curve fit the picture, to create a vague hindsight analysis.
I put it to anybody-
1.-use any instrument and show these setups -before Bob's weekly hindsight release
2.-show some actual trades that were or are about to be placed.
There is only beginners here at best. Asking beginner questions about brokers or spreads etc.. Where is the discussion about trading?
Maybe it is because over a long period with many trades placed, it would appear to me that this is a break even method, and as I have improved to becoming profitable through other methods -my bull**** filters in regards to trading have also been refined.
There has been nothing offered here except hindsight analysis. This is something that a child is capable of.
Bob's charts do not say very much and they are full of contradictions. Its ok though -we can use our imaginations as to what and why he does what he does. Except for the fact that we have no proof that any of the trades on the charts are even placed. Sometimes changing the way things are viewed to curve fit the picture, to create a vague hindsight analysis.
I put it to anybody-
1.-use any instrument and show these setups -before Bob's weekly hindsight release
2.-show some actual trades that were or are about to be placed.
Last edited:
BLS
Established member
- Messages
- 642
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Week 34 2016 charts from Volman:
https://www.dropbox.com/sh/1amxmi9af0fk6ej/VA5_ZrjQF1
https://www.dropbox.com/sh/1amxmi9af0fk6ej/VA5_ZrjQF1
request for hardback copies of Bob Volman's Books
Could you guys please help communicate to Bob to kindly look into producing hardback copies of his books, the ones I have have started falling apart from constant use and as most of us know it takes several reads to fully grasp more than 70% of what he teaches...not that he's not a good writer/teacher but some lessons are so deep that they can only be grasped by practice and then some more reading and then some practice and then some more reading...
Could you guys please help communicate to Bob to kindly look into producing hardback copies of his books, the ones I have have started falling apart from constant use and as most of us know it takes several reads to fully grasp more than 70% of what he teaches...not that he's not a good writer/teacher but some lessons are so deep that they can only be grasped by practice and then some more reading and then some practice and then some more reading...
The answer to your question is practice, practice and more practice...
Below is the only trade (pb) I took today on the 5mins ranging chart...i bet you will see a similar trade for 70-ticks on Bob's charts when it comes out next week.
