Volman Style (70-tick chart)

Hi Nifemi, welcome!

Bob Volman wrote two books about price action trading:

- Forex Price Action Scalping: an in-depth look into the field of professional scalping
- Understanding Price Action: practical analysis of the 5-minute time frame

If you click on the links you will be redirected to Amazon but you can find them elsewhere too.

First of all you need to understand if this trading style fits you, then you can start reading one of the two books. Probably the second one is more detailed and "complete", because there is a theoretical part in the beginning which explains the price action principles. The first one is maybe a little bit more specific but overall they are both great books that can work with different instruments and timeframes.

GOOD MORNING !!! my first trade

My other trade of this morning (scratch -4 pips.) gc finance i dont take the second breakout like last week (similar setup). But like you said i dont need to trade emotionaly. So i dont take it After reflexion the BB was to little and not much buildup.

Well done! Great that you're improving that emotional aspect too!

I think in this situation you could trade at the break of the angular line (and also of the round number) with a stop over the last high (I think it's a 7 pip stop). Still quite aggressive, though.

Your entry also was good. Unique problem was the round number which actually ruined the trade. After that, re-trade the second break would have been risky because of this stall in the round number, so you did well. Maybe in another context that could be a trade for failure, meaning that you short the bull break above the round number with the idea that it would fail. Volman, in his second book, explains the technique of trading the breaks for failure but I still didn't master it, so I usually don't use it. You can check it out if you're interested in.

Anyway, good job!

Thank alot for your point of view sir ! It help me alot. I think i will read the second book. Just hard for me because the second one doesnt exist in french version.. But i think i will try to read in english and you are right about the round number

You're welcome! Great opportunity to improve your English then! Anyway, when you read, you can always ask me if something is not clear, I will try to explain you in simple words.

Good morning !! Really nice from you man! Like you said it will improve my english but the other book that we read (emotion free trading) is more simple just a story. The second book of bob volman got a lot of technicality and charts but i will try and ask if something is note clear!!! On your point of view the second book is better ?

TEXT BOOK TRADE THIS MORNING WITH THE 00 NUMBER MAGGNET. I show you a second chart to see the big picture...

hi guys now i`m at the beginning of bob`s adventure.anyone can help me with ninjatrader? i can`t open any forex chart only futures. what should i do?

TRADE NUMBER 2.

TRADE NUMBER 3 . I follow the pressure on this one

Hello Bonkoo I hope you doing great ! For your question about Ninja Trade unfortuntly i dont really know this platform. In the past I use Tradingview for my analyst but it was just in time frame (no tick) so when i start my Bob journey i buy PROREAL time (for tick charts) so i do my analyst on pro real time and i take my position with METATRADER4. If you want to have more informations about MT4 or PRO REAL time feel free to ask my friend and welcome aboard with us

Hello guys,

I see you had an amazing session, Eurusdforex! Great trades and emotional management too! After the first winning trades, it's easy to get over confident and make poor decisions. But it looks like you stayed calm and managed to spot only the good trades!

As for the books, it's hard to say which one is better, overall they're very similar. The second one is surely more complete and detailed, it's like a manual with all principles and information you may need. However, the setups are more general and flexible so it might take more time to understand how to apply them correctly. In general the flexibility is good though, in particular when you want to trade different instruments or timeframes.
The first one is more specific and the setups are probably easier to understand. However, the price action principles are only explained in the charts without a theoretical explanation first. You can still apply the techniques to other instruments and timeframes but maybe it's a little bit harder.
To sum up, if you want to learn price action trading in general and have some techniques to apply on any instruments and timeframes then the second one is better. If you already know you will trade on EUR/USD 70-tick or on a very similar chart and you don't mind learning price action principles in details then you may opt for the first one.
For you specifically, as you already read (and learned pretty well) the first one, I recommend you to get the second one and keep it so you can check out some more information if necessary or read some parts. It's nice to have a comparison or confirmation from what learned in the first one.

For bonkooo1, welcome! Sorry but I can't help you too. I tried Ninja Trader once but I don't really remember and I don't have it installed on my computer now. I hope someone else will come to help you!

Hi EURUSDFOREX
I use ctrader for quite long time, there is tick chart but it doesn't looks right compering to Bob's or your. Do I need to pay for prorealtime or I can use free account? What are the options?

Good morning GC-FInance thanks alot for your complete and detailed answer about the book. And yes yesterday was a good day. Good emotiontly management and good with the trade management too so i will try to keep this for today

I will buy the second book for sure. I will finish the one that we start last week and after this i will start the second book of Bob Volman and if something is not clear i will ask you!!

On your side how's your trading this week ?

Good morning Bonkooo1 hope you doing great. can you post a screenshot of your tick chart on Ctrader ? Maybe its just your setting that you need to change ? Thx

You need to adjust the tick setting in order to match Volman's charts. It could be 30-40 ticks or maybe 80-100, just try until you find a tick setting that resembles Volman's charts. Check carefully the horizontal axis to see how many bars get printed in a given amount of time and also the vertical axis to check their average height. If you need some recent charts for comparison, just check Eurusdforex's posts or ask me, I can post some EUR/USD 70-tick from ProRealTime.

By the way, ProRealTime is not for free. You only get access to the end of the day data for free or you can get a free trial of one week in the beginning. It's a great product but if you're on a budget you can consider Ninja Trader as you said or try with cTrader as I explained above.

Okay, great!

For me the week is going so so. I haven't traded much because I had some commitments plus the market was choppy. I'm trying to be disciplined as much as possible so this is good, at least. I hope it will get better and better!

Trade number 1 this morning. Market is little bit calm before the us red folder news a 8:30 est. So i dont push my luck my tp was on the .40 level. + 7pips

Perfect when you get some busy week sometimes you need to stay on the sideline if you are not on the good mood . So keep the good work and the patience will pay off im sure !!!!

Good morning guys hope everybody feeling great ! There is my first trade for this morning. Little bit different this time... The market was bearish and normaly i dont take trade against the pressure but i think this one deserved a try. Let me know what you guys think about this one... Thank again i put again a big picture charts