Menu
Sister Sites

Options

Bookmark Thread

First Page First Unread Last Page Last Post

Print Thread

Similar Threads

Volman Style (70-tick chart) 393 replies

The Dissent Channel: Volman Price Action 30 replies

Understanding Price Action by Bob Volman (notes and examples) 96 replies

Bob Volman & TMT System 16 replies

pls share your journey 10 replies

Attachments: Volman meets Burke or My journey with PA
Exit Attachments

Volman meets Burke or My journey with PA

  • Post #1
  • Quote
  • First Post: Edited Mar 19, 11:21pm Sep 5, 2022 7:41pm | Edited Mar 19, 11:21pm
Real quick. The title. Bob Volman worte a bok (actually 2) titled "Understanding Price Action: Practical Analysis for the 5 Minute Time Frame", which I have read and am starting to implement. Stacey Burke has a youtube channel, with a ton of videos, that go over his method. I am in the process of morphing these two PA methods into my own. And here I will talk some about this journey.

I have wanted to convert to PA trading for a long time now. Then I stumbled on the thread Price Action at the core, which led to other threads and ended with Flying Dutchman.

And since I have recently "retired", I currently have some free time to devote to this.

Up to this point I have been a mediocre indicator trader. I was ready to launch into another mess of indis when, after watching a couple Burke vids, to jump head first into price action trading. Been about a month and I think I am making good progress. This is likely the result of hours of chart time and absorbing all that data into my subconscious and now it's all gushing out. (my wife thinks I am being a bit obsessive in my new endeavor, but when you are finally achieving that which has eluded you ....

So, this will be that occasionally posted journey.

I will (mostly) use conventional terms. It's the only - chart - language most speak and what's easiest for me.

Charts are coming ...

Phase 1 is done. Learn stuff and all.

Phase 2 begins here ...

Volman meets Burke or My journey with PA | Page 49 | Forex Factory

Phase 3 begins about here ...

Volman meets Burke or My journey with PA | Page 62 | Forex Factory

The title of this thread should now and probably for the foreseeable future be called ...

How I use MAs within a general PA framework

Final phase begins here: Volman meets Burke or My journey with PA | Page 74 | Forex Factory


THIS IS THE FINAL PHASE

Volman meets Burke or My journey with PA | Page 91 | Forex Factory

This is a true piece of art.

Volman meets Burke or My journey with PA | Page 97 | Forex Factory

The material on this forum website is general in nature and for learning only . It does not constitute personal investment advice or personal trading advice. Any advice provided is general advice only and does not take into account an individual’s risk profile or financial situation. Trading involves the risk of loss as well as the potential of profit. You should seek independent financial advice in deciding if trading is appropriate for you.
LEARN HOW TO TRADE
Mark ... Either you understand or you don't, and that is that.
The best decision I have ever made in my trading history (and I have been doing this part time for almost 30 years) is adapting Stacey Burke's method. All FREE. All the info he has put out the last three years - SAME. A very viable method that is completely wash, rinse, repeat.

Time
HOD/LOD
BRN
Basic entry using pin-hammer and engulfing bars.

All easily tradable off the M15 chart.

This method truly is simplicity at its best.

Then you go and trade it live the first time and realize you need to touch up on chart reading. (My excuse to the wife is I have hardly had an open chart in front of me for the last three years. Her response yeah, yeah always with the excuses ...)

Then I realized I needed to turn off that stupid indicator thought maker and go all in PA.

It boils down to trading boxes created as price moves creating that day's new highs and lows or just meandering in the previous session(s) range. It does both. And then the reaction/action of price at those high and lows. Over time you see the patterns you are looking for a lot easier and this makes entries smoother.

Then you learn to read price horizontally - YES YOU USE LINES!!

From there you see how the previous session left spots to take trades.

All this can be started using just pin-hammer bars and engulfing bars. To be honest, you could stop right there and quite likely make good. The right pair (preferably one that makes minimum 25 pip moves) and that basic entry can become a career.

There are other entries and patterns you discover. Not always something you would trade, but information.
Mark ... Either you understand or you don't, and that is that.
After a few attempts to trade on the M1 made an effort to find information on trading shorter time frames. The 5 minute came up a number of times. I wanted to find somebody (anybody) than to try and tackle Al Brooks again. I am not there yet.

Then I found Volman's book. Kind of like the idiots guide to the 5 minute compared to Brooks. Volman definitely looks at the market as a war. Bulls vs Bears in a never ending death throw ...

It is basic old school well written.

So, I decided to combine the two methods.

Neither method is unique. These basic methods and many variants have existed for years. The fact that they can still be valid is what is amazing. Yet, they work like a charm.

Looking forward to when this becomes second nature. Should not take too long at the present rate of progress.
Mark ... Either you understand or you don't, and that is that.
One thing is for sure. It takes many long hours to fully absorb this information. There are no shortcuts. I am glad I have lots of screen time to help speed up my progress. The patterns sink into your deep memory then whoosh out they come. Almost as if all the previous time was meant to be. Who knows.

I will be posting screen shots and how I see things. I am not going to predict where price is going. Tried that before. Total failure. Will just use my knowledge of PA, what that may be, to determine when the highs/lows have been reached.
Mark ... Either you understand or you don't, and that is that.
Quoting spzd;14125556[B
]The best decision I have ever made in my trading history (and I have been doing this part time for almost 30 years) is adapting Stacey Burke's method.[/b] All FREE. All the info he has put out the last three years - SAME. A very viable method that is completely wash, rinse, repeat. Time HOD/LOD BRN Basic entry using pin-hammer and engulfing bars. All easily tradable off the M15 chart. This method truly is simplicity at its best. Then you go and trade it live the first time and realize you need to touch up on chart reading. (My excuse to the wife is I have hardly had an open chart in front of me for the last three years. Her response yeah, yeah always with the excuses ...) Then I realized I needed to turn off that stupid indicator thought maker and go all in PA. It boils down to trading boxes created as price moves creating that day's new highs and lows or just meandering in the previous session(s) range. It does both. And then the reaction/action of price at those high and lows. Over time you see the patterns you are looking for a lot easier and this makes entries smoother. Then you learn to read price horizontally - YES YOU USE LINES!! From there you see how the previous session left spots to take trades. All this can be started using just pin-hammer bars and engulfing bars. To be honest, you could stop right there and quite likely make good. The right pair (preferably one that makes minimum 25 pip moves) and that basic entry can become a career. There are other entries and patterns you discover. Not always something you would trade, but information.
I am rapidly coming to the same view
every Saint has a past. Every Sinner has a Future
Mostly babbling so far. All with information.

If you trade minor crosses you have likely noticed that some days they move as they should, other days they are flat and dull. I think that results from the direct dollar pair days and the crosses days. Some days the US dollar vs mainly the Euro and Pound have better moves. Other days it's all the others. I just calll them dollar yes days or dollar no days.
Mark ... Either you understand or you don't, and that is that.
From Burke's white board:

1) Structure (HOW/LOW, boxes)

2) HOD/LOD

3) Timings (the 3 sessions, equities markets opens)

4) Round Numbers (00/50, stop hunts of 25 to 50 pips)

5) pin-hammers/engulfing bars

6) 1 bar stop/pay yourself

These are the main components of his method.
Mark ... Either you understand or you don't, and that is that.
I don't even try to be conventional wisdom when it comes to trading anymore. I'm not some quasi-celeb talking head nor am I a master fund manager so I can view the markets how I please and what works for me.
Mark ... Either you understand or you don't, and that is that.
Working through my mind (as you see there is a nail in the way) on how to explain my viewpoint of Burke's method. Even though it is a basic method. It is more than what is on the surface and I want to do it as much justice as I can.
Mark ... Either you understand or you don't, and that is that.
Price movement:

1) Breakout, pullback, continue

2) Breakout, pullback, reversal

3) Breakout, pullback, range

The 3 basic things price does.

We also need to think about "where's the money".

This is where are the orders. The algo's prime directive is to collect orders. The stop hunts are just a result of going after orders to collect.
Mark ... Either you understand or you don't, and that is that.
Quoting spzd
Price movement: 1) Breakout, pullback, continue 2) Breakout, pullback, reversal 3) Breakout, pullback, range The 3 basic things price does. We also need to think about "where's the money". This is where are the orders. The algo's prime directive is to collect orders. The stop hunts are just a result of going after orders to collect.
Look for liquidity levels on 4hr and daily tf. look for them at extremes. easy to find and some huge pips to be had
Quoting spzd
Real quick. The title. Bob Volman worte a bok (actually 2) titled "Understanding Price Action: Practical Analysis for the 5 Minute Time Frame", which I have read and am starting to implement. Stacey Burke has a youtube channel, with a ton of videos, that go over his method. I am in the process of morphing these two PA methods into my own. And here I will talk some about this journey. I have wanted to convert to PA trading for a long time now. Then I stumbled on the thread Price...
Keep watching Stacy
Quoting T721
{quote} Look for liquidity levels on 4hr and daily tf. look for them at extremes. easy to find and some huge pips to be had
Just starting back up after about 3 years. Have been doing the accelerated program (think I am putting in more hours now than when I was working my rear off). Not quite ready to bring that into the analysis as it tends to throw me off in the process I currently have set up. Once I get this to the no need to think about phase I will start to bring in some different things.
Mark ... Either you understand or you don't, and that is that.
Quoting spzd
{quote} Just starting back up after about 3 years. Have been doing the accelerated program (think I am putting in more hours now than when I was working my rear off). Not quite ready to bring that into the analysis as it tends to throw me off in the process I currently have set up. Once I get this to the no need to think about phase I will start to bring in some different things.
Look at the thread i started, theres a lot of useful info there for you
Until this video I was still a bit lost on PFH/PFL Peak Formation High/Low. These are the last major high and low that affect the area the market is currently at.

Inserted Video
Mark ... Either you understand or you don't, and that is that.
Great start to your journal and it looks like you've found a nice method that you make your own and find success with in the markets.
Keep going!!
Empty your mind and let the market guide you
Quoting SunnyCoast
Great start to your journal and it looks like you've found a nice method that you make your own and find success with in the markets. Keep going!!
Thanks
Mark ... Either you understand or you don't, and that is that.
Quoting whitesta
Subscribed Brother.
Thanks. Will see how this goes.
Mark ... Either you understand or you don't, and that is that.
Quoting spzd
{quote} Thanks. Will see how this goes.
All the best and hope to learn more.
Great topic, first of all thank you. This topic can help me a lot, because my english is very poor, so watching videos on youtube is difficult.
I'm following the Flying Dutchman thread, it's really fascinating, but very confusing for me (maybe I'm not very smart hhh). But I've been focused on Blue (bluesteele) and am reading every single one of his posts from 2021 (Sorry for peeking at you, thank you for sharing good things - Blue hhh, ).
Hope to learn a lot from your topic. Please continue to share lots of charts!
0 traders viewing now