Bob Volman Price Action Scalping

[BLS]

More charts from Bob

 

[Yorkshire Terrier]

More charts from Bob

Thanks BLS & BOB
Always look forward to viewing Bobs weekly charts.
:clap:

 

[stehlikpetrmsncom]

More charts from Bob

Thank you very much Bob and BLS, I'm grateful for the charts

 

[TraderNico]

I would like to add my thanks to BLS and Bob.
I really and honestly appreciate Bob's charts as a learning and educational tool. It gives me great pleasure to see that I did recognize some setups the same as Bob. But even more so, is to see the potential that could be had once I become proficient with applying this strategy.
Successful I will become!
Regards

 

[Giorrgi]

Hello,

so nobody posted any charts today ?

I personally didn't take any trades. I hanged around for 3 range breaks and none of them fit the criteria, each lacking a squeeze.

The first attachment shows the only break that reached target, but again, the squeeze wasn't sufficient to take the trade.

Any thoughts ? Anyone took any of these ?

 

[BLS]

Hello,

so nobody posted any charts today ?

I personally didn't take any trades. I hanged around for 3 range breaks and none of them fit the criteria, each lacking a squeeze.

The first attachment shows the only break that reached target, but again, the squeeze wasn't sufficient to take the trade.

Any thoughts ? Anyone took any of these ?

[1 on chart] I'm conflicted about the first one. You can sort of see a reverse head and shoulders ( a rejection of the new low/80 area) and there's not much blocky price action overhead but as you mentioned that entry wasn't the best, at least in a non-trending situation. I think it's tradable though but I try to be more careful around the 00 levels. I'd probably skip it because I'm not sure of it.

[2 on chart] The bulls are slowly getting the upper hand for the second one but that was definitely not a good entry.

[3 on chart] Didn't quite start my session yet in time to see the third setup. In hindsight the entry wasn't bad because we have a ceiling test of last resistance before the break of the barrier. I'd be worried about possible resistance around the 20 given the slow price action but since there's no visible chart resistance (except for that 20 touch ~2 hours earlier) this would be tradable.

I didn't take any trades. I didn't post my charts because price was confined between the 20 and 40 levels for most of my session but I guess I'll post them now.

 

[samich1262]

I didn't take any scalps either, but I was watching. Seemed like a slow day, almost everything was a doji.

 

[random12345]

I didn't take any scalps either, but I was watching. Seemed like a slow day, almost everything was a doji.

You guys honestly have the patience of Moses, aren't you ever tempted to reverse into key levels or is this a way of pure discipline? You're better men than me.

1.2918 respected twice after London, could have bought 1.289 for 10 even if it broke with one nervous strong bear bar, 1.2942 respected THREE times, then a picture perfect bull flag and continuation. Traded in that 'old fashioned' way... it was an easy day... seeking these perfect entries must be an absolute killer on your nerves.

 

[samich1262]

You guys honestly have the patience of Moses, aren't you ever tempted to reverse into key levels or is this a way of pure discipline? You're better men than me.

1.2918 respected twice after London, could have bought 1.289 for 10 even if it broke with one nervous strong bear bar, 1.2942 respected THREE times, then a picture perfect bull flag and continuation. Traded in that 'old fashioned' way... it was an easy day... seeking these perfect entries must be an absolute killer on your nerves.

Well, I also started trading the 5m chart (Brooks method) on several pairs mainly because the US session has become so slow lately. I usually still see at least one good Volman setup in a day, but several times a week lately it seems like the European session moves well and it starts to stall when the US session starts. Will probably change again in a few months.

 

[BLS]

You guys honestly have the patience of Moses, aren't you ever tempted to reverse into key levels or is this a way of pure discipline? You're better men than me.

1.2918 respected twice after London, could have bought 1.289 for 10 even if it broke with one nervous strong bear bar, 1.2942 respected THREE times, then a picture perfect bull flag and continuation. Traded in that 'old fashioned' way... it was an easy day... seeking these perfect entries must be an absolute killer on your nerves.

Tempted, yes, but the psychological damage from losing when I break my rules or deviate from the method would be more for me than it would be for you since I'm still rather new to trading. If I had won it would probably make me overconfident and more likely to break my rules. I think it's better for me psychologically to stay disciplined.

 

[Giorrgi]

Have to leave soon, so I'll post the chart.

Didn't take any trades.

The initial range was broken with no proper buildup. The following PA built what seems to me like an ARB. I almost traded the break of the arb-block however the break seemed to premature.

The second break, I didn't even consider. It was countertrend and didn't have any buildup either.

I seem to be having trouble with the proper amount of squeeze that I deem necessary. Sometimes the squeezes are perfect and yet the box doesn't break. More often, the squeezes are subpar and the box breaks and hits 10 pips. I guess this isn't the kind of question one may a clear answer for but it is disturbing.

 

[random12345]

Well, I also started trading the 5m chart (Brooks method) on several pairs mainly because the US session has become so slow lately. I usually still see at least one good Volman setup in a day, but several times a week lately it seems like the European session moves well and it starts to stall when the US session starts. Will probably change again in a few months.

What IS going on with that? I think I'd be able to trade Asia better than the US post London close these days. December is usually slow and boring, but that often equals predictable and thus = profit, but I feel bad for anyone who wakes up with the US session for sure. It's like the lunchtime doldrums last for the whole afternoon session.

January is normally quite volatile so time will tell. There's a lot of money off the table if January doesn't move.

 

[random12345]

Tempted, yes, but the psychological damage from losing when I break my rules or deviate from the method would be more for me than it would be for you since I'm still rather new to trading. If I had won it would probably make me overconfident and more likely to break my rules. I think it's better for me psychologically to stay disciplined.

I hear you - I used to place a near enough random trade after a winning day, no stop, thinking so and so pair was going to definitely make me a few more pips (literally usually a target of 2-3). I'd come back and of course the trade would still be open and run against me pretty badly. I rode a few of those out... oddly enjoyable in hindsight.

I'm screwed up.

 

[Giorrgi]

I hear you - I used to place a near enough random trade after a winning day, no stop, thinking so and so pair was going to definitely make me a few more pips (literally usually a target of 2-3). I'd come back and of course the trade would still be open and run against me pretty badly. I rode a few of those out... oddly enjoyable in hindsight.

I'm screwed up.

So what are your current techniques based off? Support / resistance / breakout trades? Any specifics?

Thanks !

 

[random12345]

So what are your current techniques based off? Support / resistance / breakout trades? Any specifics?

Thanks !

I change it up from time to time - since I switched to LMAX, currently I'm scalping for small targets from 4 pairs due to the ranging that the GBP/JPY EUR/JPY USD/CAD and GBP/USD (so predictable off 1.6133 it almost hurts) have entered into lately. Japanese pairs are especially lucrative because they aren't breaking out of their end of November highs and lows and providing many points between their ranges. I'm most cautious of the EUR/JPY due to the Euro's unpredictability. The EURUSD is tradeable at key areas too as stated in my other post. However I don't like its current volatility to news vs its volatility to no news. Massive disparity, possibly due to lower volume than usual, though I don't know.

In the past I've used smooth MA crosses to auto trade pairs, I've used S&R swings etc. Ultimately the HFTs control much of what goes on in between S&R and then big lot traders control the actual S&R and you can't go far wrong betting the same channels, areas, and EMA touches as they are. Psychologically I have always struggled to accept losses because I have daily rather than weekly targets so I have to keep things very high probability in whatever method I use.

 

[samich1262]

Well this almost looked promising, but it didn't go very far. A BB of sorts. Price turned sideways after the break, so rather than use tipping point, it seemed like exiting for 3-4 pips profit was a better idea, especially since we had 3 tops.



Once again, great European session but the US session can't get out from between the 20 levels. I almost forgot that Wednesday is an FOMC day, so I would imagine things will be a little better after that.

 

[BLS]

Well this almost looked promising, but it didn't go very far. A BB of sorts. Price turned sideways after the break, so rather than use tipping point, it seemed like exiting for 3-4 pips profit was a better idea, especially since we had 3 tops.

View attachment 151232

Once again, great European session but the US session can't get out from between the 20 levels. I almost forgot that Wednesday is an FOMC day, so I would imagine things will be a little better after that.

I skipped that one because I had my barrier one pip higher. I was trading a bit more cautiously after I got trapped in an avoidable tease break earlier.

 

[Traderallen]

Hello to all, I have been trading Forex for about 2 years now and equities for about 8. I like to scalp by nature and over the last 2 years I have tested many different ways to scalp. I have done ok but have not been able to get the edge that I want. I got Bob Volmans book about a month ago. Now I use only his scalping methods in Forex. I have a much better win/loss ratio now. I have done well in the Euro session, but agree the US session has been flat.

 

[BLS]

Hello to all, I have been trading Forex for about 2 years now and equities for about 8. I like to scalp by nature and over the last 2 years I have tested many different ways to scalp. I have done ok but have not been able to get the edge that I want. I got Bob Volmans book about a month ago. Now I use only his scalping methods in Forex. I have a much better win/loss ratio now. I have done well in the Euro session, but agree the US session has been flat.

Hi Allen, welcome to the thread. I notice you're from the US. What's your sleep schedule like? I'm getting rather frustrated with trading only the US session but I find it rather hard to be awake for the European session.

 

[Traderallen]

My job allows me to monitor the markets during the Euro session. But i usually trade the US markets till noon, since i also trade US options. Gives me something to do when the forex markets are not moving.