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Volman Style (70-tick chart)

  • #221
  • Feb 18, 2021 8:38am Feb 18, 2021 8:38am
Quoting photize
{quote} It's an option in the indicator specifically programmed for me by Milan at Ovo.cz for trading the Volman method it really is an edge to see the setups.Pho

Hello Pho, Are you the only one to have access to 4digit on Ovo or has milan included it for everyone ?

Trade Good
Hello Pho, Are you the only one to have access to 4digit on Ovo or has milan included it for everyone?
  • #222
  • Jun 23, 2021 5:09am Jun 23, 2021 5:09am
Anyone interested in reviving this tread for discussion on Bob Volman scalping techniques? I've got both books, read both, am concentrating on the 70 tick chart for now. The volatility in EURUSD is really quite low so I am playing a little with GBP USD too.

Not looking to post every trade, but the ability for discussion and helping each other out would be pretty useful all round.

Fingers crossed there are still some traders subscribed to this thread :-)
  • #223
  • Jun 24, 2021 3:18am Jun 24, 2021 3:18am
Quoting Jasper68
Anyone interested in reviving this tread for discussion on Bob Volman scalping techniques? I've got both books, read both, am concentrating on the 70 tick chart for now. The volatility in EURUSD is really quite low so I am playing a little with GBP USD too. Not looking to post every trade, but the ability for discussion and helping each other out would be pretty useful all round. Fingers crossed there are still some traders subscribed to this thread :-)
I am also very concerned about the volatility of the forex market after the US elections. There was simply nothing in the market for me that I can use to make money. Since the end of the US elections the daily volatility in EUR/USD is only about 30-35 pips and in GBP/USD, only about 40 pips. But from 15th of June up until 23rd June the volatility in these two pairs has increased and it remained that way for 7 days excluding week days, the average daily volatility throughout these 7 days for Eur/usd was 65-70pips and for Gbp/usd was 85-90 pips. I need this kind of volatility in the market so I can trade the Bob volman's 5 minute time frame setups and I have also started to read the Bob Volman's scalping book so I can adapt to low volatility environment like we are in now for about 5 or 6 months. If the volatility comes back to normal in the currency market then I can trade both scalping and 5 minute setups. Glad someone is still here on the thread. ALL THE BEST FOR YOUR TRADING JOURNEY.
  • #224
  • Nov 5, 2021 10:10am Nov 5, 2021 10:10am
Quoting Lordsaumure
{quote} Hello Pho, Are you the only one to have access to 4digit on Ovo or has milan included it for everyone ? Trade Good Hello Pho, Are you the only one to have access to 4digit on Ovo or has milan included it for everyone?
RW Tick Chart indicator (rwtickchart.com) also provides an option to 'Round price values to 4-digit broker price'.
This option can be enabled at the indicator settings for the tick chart in the indicator window or for an MT4 offline tick chart.
This option is also part of the MT5 version of RW Tick Chart indicator.

The screenshot below is from MT4 version:
Attached Image (click to enlarge)
Click to Enlarge Name: rwtc.png Size: 105 KB
  • #225
  • Nov 5, 2021 12:04pm Nov 5, 2021 12:04pm
Quoting darksamu
{quote} RW Tick Chart indicator (rwtickchart.com) also provides an option to 'Round price values to 4-digit broker price'. This option can be enabled at the indicator settings for the tick chart in the indicator window or for an MT4 offline tick chart. This option is also part of the MT5 version of RW Tick Chart indicator. The screenshot below is from MT4 version: {image}
Nice, finally caught onto the 4 digit option ovo.cz has been supporting it for a few years with its tick indicator, there's a free trial go grab it , you will not look back and check all the free stuff like a tick chart back testing server and assistant to make the process simple, use it to refine your trading, happy pips
https://ovo.cz/products/offline-char...t-volume-bars/
  • #226
  • Nov 5, 2021 12:41pm Nov 5, 2021 12:41pm
Quoting Hardandsmart
{quote} I am also very concerned about the volatility of the forex market after the US elections. There was simply nothing in the market for me that I can use to make money. Since the end of the US elections the daily volatility in EUR/USD is only about 30-35 pips and in GBP/USD, only about 40 pips. But from 15th of June up until 23rd June the volatility in these two pairs has increased and it remained that way for 7 days excluding week days, the average daily volatility throughout these 7 days for Eur/usd was 65-70pips and for Gbp/usd was 85-90...
You could move over to one of the index charts s+p Dow etc plenty of movement there or set up a simple atr dash to look for active pairs happy pips Pho
  • #227
  • Jun 22, 2022 3:13pm Jun 22, 2022 3:13pm
Quoting Jasper68
Anyone interested in reviving this tread for discussion on Bob Volman scalping techniques? I've got both books, read both, am concentrating on the 70 tick chart for now. The volatility in EURUSD is really quite low so I am playing a little with GBP USD too. Not looking to post every trade, but the ability for discussion and helping each other out would be pretty useful all round. Fingers crossed there are still some traders subscribed to this thread :-)
Hi!

If not too late, I'm interested in discussing about Volman's techniques. I almost finished reading his second book and read about a half of his first one.

I'm trying trading on MT4 (with a demo account) but I didn't get good results yet. For scalping, I use M1 but I'm thinking to switch to Ninja trader in order to use tick charts and also full-pip increments of the bars. Any opinions about that?

Is there anyone still here, trading Volman's techniques and getting good results?

Let me know!
  • #228
  • Jul 4, 2022 7:39am Jul 4, 2022 7:39am
Quoting GC-Finance
{quote} Hi! If not too late, I'm interested in discussing about Volman's techniques. I almost finished reading his second book and read about a half of his first one. I'm trying trading on MT4 (with a demo account) but I didn't get good results yet. For scalping, I use M1 but I'm thinking to switch to Ninja trader in order to use tick charts and also full-pip increments of the bars. Any opinions about that? Is there anyone still here, trading Volman's techniques and getting good results? Let me know!
Hi everyone!

No one answered me I will try to post some trades and see if some one gets interested in. I finally opted for keeping trading on MT4 (didn't like Ninja Trader) but with Ovo.cz (as suggested earlier in this thread) to obtain tick charts with downgrade to 4 digits on MT4. It works just great! I'm still using the trial version but I will probably buy the full license soon.

I currently trade on a demo account and only the pairs EUR/USD, GBP/USD and AUD/USD. In the attached chart, you can see a winning trade of this morning on the GBP/USD pair, it was a range break (RB) according to Volman's terminology.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD70tick-2022-07-04.png Size: 26 KB
  • #229
  • Edited 2:51am Jul 8, 2022 2:22am | Edited 2:51am
Hello, trades of the morning:

1) a nice Range/Block Break on GBP/USD.
2) a Double Doji on AUD/USD.

Both won for a total of 20 pips profit.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GBPUSD70tick-2022.07.08.png Size: 26 KB
Click to Enlarge Name: AUDUSD70tick-2022.07.08.png Size: 25 KB
  • #230
  • Jul 25, 2022 3:02am Jul 25, 2022 3:02am
Quoting GC-Finance
Hello, trades of the morning: 1) a nice Range/Block Break on GBP/USD. 2) a Double Doji on AUD/USD. Both won for a total of 20 pips profit. {image} {image}
Hi, great trades. I have read Volman's both books, backtested his strategy on 100 trades on Eur/usd and Gbp/usd using his 5min price action concepts but after 2020 US elections the forex market became very very stale with average daily range 30-40 from the European open to US close. So, I left the 5min timeframe and started reading his first book which was on forex scalping also took a lot of trades on simulated trading using ninjatrader but because the market wasn't just for even having of 7-8 pips that time in 2020 so I was pissed of and left forex once and for all. Now I have moved to US futures I use some of Bob Volman trading concepts as well like DD break, SB break and ARB, and using two legged pullback trading method as well. As of now I am just working trading skills and mindset. Regarding forex, now I have seen that the EUR/usd is having daily average movement of 70-80 pips which is great for trading using Volman's method whether it is his scalping using 70 tick chart or trading 5 min chart.

Good luck for your trading journey.
  • #231
  • Jul 25, 2022 9:02am Jul 25, 2022 9:02am
Quoting Hardandsmart
{quote} Hi, great trades. I have read Volman's both books, backtested his strategy on 100 trades on Eur/usd and Gbp/usd using his 5min price action concepts but after 2020 US elections the forex market became very very stale with average daily range 30-40 from the European open to US close. So, I left the 5min timeframe and started reading his first book which was on forex scalping also took a lot of trades on simulated trading using ninjatrader but because the market wasn't just for even having of 7-8 pips that time in 2020 so I was pissed of and...
Hi, thank you for the answer!

Fortunately there is still some interest in the topic, so I will keep posting some trades.

I'm also happy to hear that you apply Volman's method to the futures. Indeed, his setups could be applied to any market and timeframe, ideally, as they carry universal laws of supply and demand. I also tried to study different markets and timeframes and could spot some setups.

I'm still working on improving the "emotional" part of trading, which is the hardest for me. But I'm slowly getting better and see nice results. Hopefully, I will soon start trading with real money, maybe micro or mini lots in the beginning and then slowly increase.

Regarding the volatility, now it seems to hold up, as you said. I see no troubles in EUR/USD and GBP/USD, the Aussie works fine as well sometimes.

Good luck for you too! Let's update at the next posts!
  • #232
  • Jul 26, 2022 9:59am Jul 26, 2022 9:59am
2 trades using Volman 5min price action.

Attached Image (click to enlarge)
Click to Enlarge Name: 1.png Size: 72 KB
  • #233
  • Jul 27, 2022 1:53am Jul 27, 2022 1:53am
Quoting Hardandsmart
2 trades using Volman 5min price action. {image}
Great double! But in the second trade, shouldn't you have entered in the big red bar that broke the pattern line? The arrow points to the doji.

In general, I still didn't completely get the logic behind such pattern breaks. I do understand it when the pattern is flat (horizontal pattern line) but with these sloped lines, it's still not clear for me. Indeed, you may enter the trade with much resistance on the left, which seems risky to me.

That's also why I feel more comfortable with Volman's scaping setups, clear horizontal lines or levels are better for me.
  • #234
  • Jul 27, 2022 6:09am Jul 27, 2022 6:09am
Quoting GC-Finance
{quote} Great double! But in the second trade, shouldn't you have entered in the big red bar that broke the pattern line? The arrow points to the doji. In general, I still didn't completely get the logic behind such pattern breaks. I do understand it when the pattern is flat (horizontal pattern line) but with these sloped lines, it's still not clear for me. Indeed, you may enter the trade with much resistance on the left, which seems risky to me. That's also why I feel more comfortable with Volman's scaping setups, clear horizontal lines or levels...
No because before big red bearish bar the doji project bearish that's the next bar, the big red became my signl bar. There was about 4 points of room to the recent low
that's why I decided to take the chance but indeed it was a aggressive trade.
  • #235
  • Jul 27, 2022 6:10am Jul 27, 2022 6:10am
More trades using Volman price action.

Attached Image (click to enlarge)
Click to Enlarge Name: 2.png Size: 87 KB
  • #236
  • Jul 27, 2022 8:55am Jul 27, 2022 8:55am
Quoting Hardandsmart
More trades using Volman price action. {image}
These are even better! I will post some trades soon too!
  • #237
  • Jul 27, 2022 10:13am Jul 27, 2022 10:13am
Demo live trading.

Only took 2 trades because the market was very stale.

Attached Image (click to enlarge)
Click to Enlarge Name: 1.png Size: 53 KB
  • #238
  • Edited 3:43am Jul 29, 2022 3:25am | Edited 3:43am
1) Range Break (RB) on AUD/USD.
2) Block Break (BB) on GBP/USD.

Both won for the standard 10 pip net profit, so I collected a total of 20 pip net profit here. Honestly, they weren't well built-up but the conditions were favorable so I applied a bit of aggression.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: AUDUSD70tick-2022.07.29.png Size: 30 KB
Click to Enlarge Name: GBPUSD70tick-2022.07.29.png Size: 30 KB
  • #239
  • Edited 2:54am Aug 12, 2022 1:58am | Edited 2:54am
Hi guys,

I just want to share my backtest results of Volman scaping method. I have done the backtest properly, by slowly scrolling the chart forward and by justifying and commenting each and every trade, so to double check if I had been able to take it in a live environment.

"NPP" means net pip profit, that is, the gross profit minus 1 pip of commissions/spread.
"P" means NPP>=0, "L" means NPP<0.

------
Period: July 4-19, 2022
Simulated working hours (in GMT): 6am-9am and 11am-14pm (3 hours in the morning and 3 hours in the afternoon, in my time zone)

Protective stop: 10 net pip
Target: 10 net pip

Total trades: 100 (48 P, 52 L - NPP: 167)

Average technical initial stop: 5.99 net pip
Average NPP per trade: 1.67
Average NPP per P trade: 8.21
Average NPP per L trade: -4.37

Trades divided by setup:

ARB - 3 (2 P, 1 L - NPP: -3)
BB - 31 (19 P, 12 L - NPP: 94)
DD - 10 (4 P, 6 L - NPP: 5)
FB - 2 (2 P, 0 L - NPP: 10)
IRB - 12 (9 P, 3 L - NPP: 85)
RB - 12 (4 P, 8 L - NPP: -8)
SB - 30 (8 P, 22 L - NPP: -16)
------

As you can see, even though I have collected more losing trades than profiting ones (52 against 48), the results are still great (167 NPP over 11 days working days)! I surely need to improve my skills, in particular on some setups (see SB, for instance), but even like this the results are very promising!

I hope my backtest will be helpful and inspiring. Let me know if you have some questions or comments about it!
  • #240
  • Aug 28, 2022 9:45am Aug 28, 2022 9:45am
Quoting GC-Finance
Hi guys, I just want to share my backtest results of Volman scaping method. I have done the backtest properly, by slowly scrolling the chart forward and by justifying and commenting each and every trade, so to double check if I had been able to take it in a live environment. "NPP" means net pip profit, that is, the gross profit minus 1 pip of commissions/spread. "P" means NPP>=0, "L" means NPP<0. ------ Period: July 4-19, 2022 Simulated working hours (in GMT): 6am-9am and 11am-14pm (3 hours in the morning and 3 hours in the afternoon, in my time...
Great demo trading results.
Yes need improvement in winning rate because from scalpers perspective its low. I think a winning rate of 75% is great and doable in live markets using Volman's.
Your average loss is also only 0.5R.

Have you downloaded Volman's scalping data of 6 years? In it Volman's has shown and annotated all of his scalping trades from 2012 to 2017 which will be very helpful to you and your trading.
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