Bob Volman Price Action Scalping

[vsaliner]

Fpas

I have read your chart and think the former support remaining solid, will be a good level to short. is there where you shorted or latter after BB.

 

[TraderEyal1]

Watching the EUR but not seeing anything yet. The entire EU move was countered in the UK open but I didn't see anywhere to take advantage of that.

 

[fpastrader]

Watching the EUR but not seeing anything yet. The entire EU move was countered in the UK open but I didn't see anywhere to take advantage of that.

Worse day for me in weeks. There have been 2 valid trades so far.

I entered into a BB before realizing how far the SL was going to be away (8p) (the chart above misrepresents it, I delete the old line), my max SL is 5p as a rule. As soon as I realized this I went to close it, but learning from yesterday (closed two perfectly valid trades just after entry because they hesitated, both hit target, vowed not to close trades after entry) I decided not to close it. Obviously everyone else realized the issue with an 8p SL and this failed.

I decided to become extra conservative as a result for today, so when I saw the IRB set up, for some reason I skipped it (marked with green arrow). Of course, it moved to the high of the range within seconds....

Then just before the UK open out of the blue a big bullish move broke the range top and set up a BB, however, this broke literally 2 minutes before UK open so due to the conservativeness caused by the earlier failed trade, I skipped this on those grounds.....of course, that hit its target in seconds too.

At this point I'm really, really annoyed. I completely miss the fact that the UK open rejected the 40 level and decided to take a pull back BB of the AB bull swing in spite of this extremely obvious sign but this is also a trade type that I strongly dislike and didn't even include in my group analysis because of that. Of course, this one fails.

I wish Bob was able to comment on days like today, does this stuff still happen to him? Is this really part of the learning process, or is this just my fault for being overly emotional? I feel like reading the price action is not my issue at all, its easy, what is now hard for me is purely psychological when combined with mishaps.

 

[TraderEyal1]

It happens to everyone I guess. There was an ARB at 10:30am Europe time but it was not a clear setup I think and too fast for me to decide and pull the trigger. No trade this morning.

 

[alexthefrench]

Hello guys,

New on the forum. I've ordered the Price action scalping book of Volman and am receiving it today.

I'm glad there is an active thread here on T2W. Hope to learn a lot, do you have some pieces of advice for a new scalper with this strategy ? Or some tips possibly.

I'll look the previous pages, I'm sure I'll find some useful information about Bob Volman's method.

 

[vsaliner]

FPAS

look and see what guidance you get from 20ema. Your second trade is a bit of waffle. Price should be clearly below 20ema for a few candles to ensure its high quality. I still do not know how to seperate the noise from the signal, as both trades are winners. where did you go wrong?

 

[vsaliner]

2cents on FPAS

herewith my 2cents on Fpas hotwater trades

 

[fpastrader]

Hi Vsliner,

The two technically valid trades are shown by the green arrows, the two non-trades are shown with the red line.

The first trade was just a simple mistake, entering the trade without checking how big the SL was going to be. The SL was too long for a pre-EU trade, the EMA needs to literally push the bars out the range for low volume periods.

The second trade is just a standard IRB trade to the top of the range, my issue was I lost confidence on the first trade and decided to play conservative and didn't take this. When it moved exactly as expected my frustration increased.

The third trade was a standard BB, the market was moving fast so there was no time for hesitation, after my two earlier mistakes naturally I hesitated and missed it.

The fourth trade, red line again, was a pullback BB. After missing the previous BB was determined not to get left behind again - however I do not trade this type of BB, ever. I think they are prone to fake signals. Obviously, with a total lack of experience this trade was always doomed to fail. This was a mistake entirely emotionally based.

I ended up spending the rest of the day, late into the evening, studying previous trades.

 

[vsaliner]

live Trade

Someone was asking here of live trades. See attached!!

 

[alexthefrench]

Hello guys,

I've read the forum today for a couple pages, and found that fpastrader said he only trades some patterns.

I thought to focus on the Double Doji and Block Break pattern , do some of you like to trade it ? Or is it not the highest probability setup?

These two patterns would give me trades in both market conditions.

I also tend to think that trading less is trading better, and would become a master at just some patterns.

again, wish to discuss with you soon on this method.

your friend,
Alex.

 

[fpastrader]

I would learn the RB, then the ARB and then BB. The IRB is very advanced compared to these, that's because the IRB incorporates other market clues into the set up, there is a huge amount more to consider. I got burned twice in a row trying to do these yesterday even though I thought I had them nailed.

The SB and FB I would personally advise to avoid them until you can do the first three with confidence. Even Bob rarely trades those and still picks up 20+ trades a month.

Once you read the book start studying his charts so if someone says "BB" etc the perfect one appears in your mind like a photograph.

 

[alexthefrench]

Thanks fpastrader for your answer, and congratulations for being a profitable trader with these setups.

They seem hard to master.

EDIT : I've made a mistake, and been studying the Block break setup first. It is not so easy, lots of small things to take into consideration.
I think I have the setup in mind, within the configuration, but all the things Volman said on illustrating the charts in the book are so numerous I can't see how to link everything together.

 

[alligators]

Is it a valid trade ??

Hello traders,
Does it qualify as a valid trade ? I didn't took the trade, didn't feel the EMA was correctly squeezed. Just need opinion of traders who are trading the Bob's techniques.

 

[hatırlaa]

I could not really see what you traded here. Could you specify entry sl and tp points? Also may i ask what this charting platform is?

 

[alligators]

Yes I should have labeled the chart. BTW I didn't took the trade.Would I have taken the trade, this is what I would have done. (10 PIPS rule). Trading platform is JFOREX.

 

[hatırlaa]

Yes I should have labeled the chart. BTW I didn't took the trade.Would I have taken the trade, this is what I would have done. (10 PIPS rule). Trading platform is JFOREX.

You seem traded an IRB trade but since its not pip chart its a bit hard to see for me. Can you change it to 5 digit candles? Whats your experience with JFOREX?

 

[poLr]

yo dawggie...stop your yapping and set aside your freshman copy of plato's dialogues and your pseudo-socratic attempts at logical arguments. the more you yap the more difficult it becomes to feel sympathetic towards your failure to succeed. don't blame volman for your failures, blame yourself. what, you expected to skim a book and become profitable right out? lol, you are embarrassing yourself.

 

[sc0ttmazzy]

Has anybody recently tried using MT4 to get it to have ticks as an option? From what I've read it is quite a challenge to set it up and then you have to leave your computer running all the time otherwise the tick history needs to be fully refreshed every time you start up MT4.

There must be an easier way to get a platform that has a tick chart feed. Any suggestions?

 

[alligators]

another profitable trade

Another profitable trade although I only made 4 PIPS.

 

[Stormy42]

Stop!!! you just lose money so badly. think about your trade!!!!