Volman meets Burke or My journey with PA | Page 116 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Volman Style (70-tick chart) 751 replies

Understanding Price Action by Bob Volman (notes and examples) 99 replies

The Dissent Channel: Volman Price Action 33 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

  • #2,301
  • Apr 8, 2023 11:04pm Apr 8, 2023 11:04pm
Here is the key to all the mess I have going. OK, it is busy. You need to accept this is the market through my eyes. This is also my solution to how I can profit from the market.

The base is 30. I mostly just use the one-minute time frame. You can figure other time frames from this.

M1 = 30
M5 = 150
M15 = 450
H1 = 1800

These are the same parameters for both the Hulls and Kijuns.

Attached Image (click to enlarge)
Click to Enlarge Name: Key-MESM23M1.png Size: 47 KB
Mark ... Everything you have been told is a LIE
  • #2,302
  • Apr 8, 2023 11:33pm Apr 8, 2023 11:33pm
There is no maths involved in my deciding on 30 as the base. I tried a few other numbers as base and they all gave similar results. I chose 30 mostly based off aesthetics of the chart through my eyes. Seriously, that is it. The math involved is knowing how the Hulls are created.

So, I have the "look" I want. This look also coincides with my main theories, those are the buy side/sell side and how I approach momentum. Everything is mostly the same. All that has occurred is some refining.

My main goal was to tame the MES. I would say I have done that. The next step is to extract as much profit as I can (this will be an ongoing process as it will involve increasing the size of trades and I am unsure of my tolerance limit) in as few trades per day as possible. My philosophy here is to attempt to make entries at the points I think, through much observation, tend to move my direction most often and also tend to reach my target in a fairly reasonable time.

As I proceed from here you will note that this is not just MAs. There is a fair amount of actual "price action reading" that occurs.
Mark ... Everything you have been told is a LIE
  • #2,303
  • Apr 8, 2023 11:41pm Apr 8, 2023 11:41pm
Quoting spzd
There is no maths involved in my deciding on 30 as the base. I tried a few other numbers as base and they all gave similar results. I chose 30 mostly based off aesthetics of the chart through my eyes. Seriously, that is it. The math involved is knowing how the Hulls are created. So, I have the "look" I want. This look also coincides with my main theories, those are the buy side/sell side and how I approach momentum. Everything is mostly the same. All that has occurred is some refining. My main goal was to tame the MES. I would say I have done that....
That last point has some import. Thursday while the MES was tight, I pulled up the EUR/USD M1 with this system on it. That pair was moving as much as the MES, that was not the purpose. I wanted to see how viable it would be to trade a currency pair in a similar manner. My conclusion is that it is very viable. Of course days that are more volatile are preferred. The one main difference is currencies are "looser". In that I mean they tend to violate other bars highs and lows more often than the MES.

Everything else works about the same.
Mark ... Everything you have been told is a LIE
  • #2,304
  • Apr 9, 2023 12:06am Apr 9, 2023 12:06am
I went over this not too long ago, that is my trading time blocks for the MES. I have not yet done the same study for any currencies. All in due time (but only ones that interest me as I find some pairs not even worth bothering with).

Attached Image (click to enlarge)
Click to Enlarge Name: timeblocks-MESM23M1.png Size: 47 KB
Mark ... Everything you have been told is a LIE
  • #2,305
  • Apr 9, 2023 1:23am Apr 9, 2023 1:23am
If there is no high impact - red - news scheduled (you still need to be cautious of any data release) I will start as early as 09.45 NY. I need to see a clear setup to enter earlier. This brings me to the 10.15 NY start time. This is a general time and gives most news releases a little time to show their hand.

I take glances at the market as it progresses trying to determine where it is most likely headed, not overly concerned until I look for an entry.

Monday was moving up from the open. Red data at 10.00 NY that put the market sideways for 15 minutes to the start of Block1.

From here I pay closer attention for the next hour.

My observations point to Block1 as being about the best time period for the MES during the NY session. I am working on getting as many trades in this block as possible. This will allow me to end the day very early with an acceptable profit. (That is the idea.)

An aside: I started using bar charts with bull and bear set to the same color. My entries are based on where price opens in my framework and this setup makes that easier to see.

Attached Image (click to enlarge)
Click to Enlarge Name: W14-D1-2-x-MESM23M1.png Size: 31 KB
Mark ... Everything you have been told is a LIE
  • #2,306
  • Apr 9, 2023 1:24am Apr 9, 2023 1:24am
I will continue in the am.
Mark ... Everything you have been told is a LIE
  • #2,307
  • Apr 9, 2023 9:15am Apr 9, 2023 9:15am
Inserted Video
Mark ... Everything you have been told is a LIE
  • #2,308
  • Apr 9, 2023 9:59am Apr 9, 2023 9:59am
Easter eggs from Lithuania

Attached Image (click to enlarge)
Click to Enlarge Name: 04.09.2023.png Size: 3.5 MB
Mark ... Everything you have been told is a LIE
  • #2,309
  • Apr 10, 2023 8:27am Apr 10, 2023 8:27am
African elephant Amboseli National Park, Kenya

Attached Image (click to enlarge)
Click to Enlarge Name: 04.10.2023.png Size: 1.2 MB
Mark ... Everything you have been told is a LIE
  • #2,310
  • Apr 10, 2023 6:14pm Apr 10, 2023 6:14pm
$DXY formed a double bottom on the daily chart. Curious to see how this plays out with all the bearish USD sentiment.
Attached Image (click to enlarge)
Click to Enlarge Name: dxy.PNG Size: 45 KB
Virtue signaling is for those who are devoid of actual virtue
  • #2,311
  • Apr 10, 2023 6:33pm Apr 10, 2023 6:33pm
Quoting Butters
$DXY formed a double bottom on the daily chart. Curious to see how this plays out with all the bearish USD sentiment. {image}
Daily?
Post a pic of the EUR/USD over the same period.
Then compare.
Mark ... Everything you have been told is a LIE
  • #2,312
  • Apr 10, 2023 6:37pm Apr 10, 2023 6:37pm
Quoting Butters
$DXY formed a double bottom on the daily chart. Curious to see how this plays out with all the bearish USD sentiment. {image}
I am a firm believer in understanding as much as possible the tools one uses to trade with.

Attached Image (click to enlarge)
Click to Enlarge Name: dxy.png Size: 14 KB
Mark ... Everything you have been told is a LIE
  • #2,313
  • Apr 10, 2023 6:39pm Apr 10, 2023 6:39pm
Quoting spzd
{quote} I am a firm believer in understanding as much as possible the tools one uses to trade with. {image}
imo, the DXY is the EUR/USD inverse and I would take it with a grain of salt when using it to make decisions of any type.
Mark ... Everything you have been told is a LIE
  • #2,314
  • Apr 10, 2023 6:53pm Apr 10, 2023 6:53pm
I don't make decisions based on it, I just thought it was interesting. I don't make forecasts either, not my strong suit. lol I just take it day to day, week to week since all my trades are day trades. What something does next week or next month doesn't matter to me as far as trading is concerned.
Virtue signaling is for those who are devoid of actual virtue
  • #2,315
  • Apr 10, 2023 7:00pm Apr 10, 2023 7:00pm
Quoting Butters
I don't make decisions based on it, I just thought it was interesting. I don't make forecasts either, not my strong suit. lol I just take it day to day, week to week since all my trades are day trades. What something does next week or next month doesn't matter to me as far as trading is concerned.
It is interesting. Just pointing out what it really is. Here at FF so many give it credit for so much when it really is not all that.
Mark ... Everything you have been told is a LIE
  • #2,316
  • Apr 10, 2023 9:43pm Apr 10, 2023 9:43pm
Oh, I know what it is. Not my first rodeo. About 10 years ago I actually created my own USD index in Excel. I used TD Ameritrade's API and got monthly closing prices for different commodities going back to 2000, and used them to create a commodity weighted USD index to graphically depict the fall of the dollar's purchasing power. I was reading a lot about Austrian economics at the time and thought it'd be interesting. It was a fun little project. That laptop shit the bed though so I lost everything, that was before I knew anything about computer hardware. Coulda taken the hard drive out and retrieved the data but that didn't happen. lol
Virtue signaling is for those who are devoid of actual virtue
  • #2,317
  • Apr 10, 2023 10:27pm Apr 10, 2023 10:27pm
EJ and GJ both are in the EQUILIBRIUM point. Can't form any BIAS.

Attached Image (click to enlarge)
Click to Enlarge Name: Trade analysis (24).jpg Size: 111 KB
Success = Practice + Patience + Persistence
  • #2,318
  • Apr 10, 2023 10:37pm Apr 10, 2023 10:37pm
Quoting fxpider
EJ and GJ both are in the EQUILIBRIUM point. Can't form any BIAS. {image}
I agree. They get in these areas and it is difficult to see which will be the way.

However, depending on what size you are trying for - in pips, there are usually 2 decent moves in the beginning of my evening. ~7 pm NY to 8.30/9 pm NY.
On average > 25 pips each.
Mark ... Everything you have been told is a LIE
  • #2,319
  • Apr 10, 2023 10:41pm Apr 10, 2023 10:41pm
Quoting spzd
{quote} I agree. They get in these areas and it is difficult to see which will be the way. However, depending on what size you are trying for - in pips, there are usually 2 decent moves in the beginning of my evening. ~7 pm NY to 8.30/9 pm NY. On average > 25 pips each.
What is the time by your watch now?
Success = Practice + Patience + Persistence
  • #2,320
  • Apr 10, 2023 10:45pm Apr 10, 2023 10:45pm
Quoting fxpider
{quote} What is the time by your watch now?
11.45 pm NY - 10.45 pm my time now
Mark ... Everything you have been told is a LIE
1 trader viewing now