Volman Style (70-tick chart)

Good morning all !!! Hope everybody are great today !

Kamuntu i watched all of your charts, first of all men it was A LOT of trades for 1 day haha! Maybe something important for you will be to just focus on one pair or two ? And try to figure wich one did you prefer ? No need to rush because you get a small capital. if you can trade with small account and you can be consistant and profitable. you will do it later with a larger account. So dont worry about that and if i can give you a advice (just my opinion) always try to figure out if you get some resistance on the left of your charts to go on your way to 10 pips target. Exemple if you take a long and close to you at the left you get a BIG resistance like a M or tripple top. you better to wait to see what price will do on this zone. Hope it make sens keep the good work my men!

TRADE 1
only 7 pips on this one i scratch after a 4top 1 pips under my tp haha

Despite the head and shoulders to the left trade looks really nice. You were patient enough to wait for the second breakout, but not or the TP to get reached.

at least not haha i enter on the IRB (and the idea was to manage if the upper barrier hold maybe just get out) but we crack it easy. You are right it was not a good exit (but we see the final result) we dont have this chance on live trading. if you look at the left the last high was just on my TP but clearly the price get some trouble to crack this level. When you trade real money and the price get reject 3-4 times 1 pips away of your TP trust me you want to GET OUT haha. but i will try to improve my patience on exit

That was a nice trade Eurusdforex,.. Strangely I was on the same chart but I couldn't spot that one. You have a sharp eye . In fact what I saw was the RB little above your exit.

Concerning your advice, It was well noted and Thanks too to Yarek, Guys like you are worth having in this endeavor..

Anyway take a look on the RB after your exit Eurusdforex.
And please give me your thoughts about the RB in the ellipse later on (second chart).

None of the trades in the charts below I took.

That being said here is the trade that ended up taking
EURUSD, RB breaking from the 50 level, I didn't extend my TP to the classical 10pips on that one for 2 major reasons:
1. We were few minutes away from US lunch hours and London close.
2. Little above the 60 level was the high of the day.

Again concerning your trade Eurusdforex, In my opinion the scratch wasn't worth it,.. the only issue was the top to the left which presented no slight issue in my opinion. Defensible was to stay in the trade and enjoy a full 10pips profit.

Hello guys hope everybody are good. trade 1 for me.

HI ! This looks very similar to what you sent on tuesday. For a moment I thought it's the same chart. Was it also a SB ?

Edit : Sorry for misleading, it was not a SB. It took me some time to remember, that pullback must be straightforward in order to set up FB/SB. This cluster of bars might indicate the loss of trend momentum and makes momentum trades (FB, SB, DD) invalid.

Hello guys, I'm back

I saw you've posted quite a lot meanwhile. I won't reply one by one as it would be too long but I'll summarize some of my comments on your posts.

Yarek: I see you improved a lot, technically speaking. If you feel you want to start with real money soon then do it, but I would advise you to stick to small sizes as long as needed and just then slowly (slower than you think) increase the size. Even if, at a certain point, you might be "ready to go" technically speaking, you still need to account for the emotional issues, which take the biggest part. This includes the feelings you get when trading with real money and how it changes when increasing the sizes. So my advice is to be more careful than how you would normally do.

Kamuntu: I more or less agree with what the others told you. Your main problem is probably the rush and trying to trade too many instruments. It's scalping after all, you should focus on one single pair. I personally don't feel comfortable trading more than one. I understand you regarding the small amounts and the need of collecting more profits but again this way doesn't work. Find another way to get the money you need (like a job) and keep trading meanwhile, growing slowly. You may also consider different trading style (swing trading or just a slightly bigger timeframe).
What you're trying to accomplish now is simply impossible with a small account and the stress is just too high to perform well. I'm sorry to "break your dreams" but I think it's better to start addressing the issue sooner than later. And I feel you very well on this point, I also still have similar emotional issues (rushing to succeed).

As for the earlier exit of Eurusdforex, I think it was a valid option. There was a resistance to the left (not strong though) and we got 3 equal tops close to that level. The round number above might have pulled, but I still think bailing out was reasonable. Moreover, if we accept exiting in round numbers, which are only theoretical or psychological resistances, then we should also accept exiting in "real" resistances, after the price action has shown to respect those levels.

As for me, I got the idea of trying trading the 5-min timeframe on EUR/USD as in Volman's second book (using those setups also). I've been studying the charts for some weeks and now trying trading it with a small lot size. I'll let you know how it goes and post some charts here soon

Thanks so much GC, the advice is saved,.. Concerning trading on the M5, keep courage. Price action pples are the same as in the 70 ticks or other intradays time frames and I'm sure you're goin to make it.

GBPUSD IRB,.. The only issue it's bank holiday in UK,.. Had I taken that information into account earlier I wouldn't have bothered trading.

EURUSD IRB, after a long range, bulls were on top, keep the bears away from the 00 level, after entry prices stalled, I resolved to get out to avoid the 00 level revisit.

Hello guys,

thanks Kamuntu! Yes the principles are of course the same, plus we have Volman's second book which is all focused on the 5-min. It's a little bit more boring but I can say that I'm much more calm during the sessions, which should lead to better trading decisions.

As for your charts, in the first one you're in a choppy range which makes trading harder in general (maybe it was for the bank holiday, but it doesn't really matter) so probably better to skip all the setups. Anyway, your IRB was unfavorably located as there was a lot of resistance to crack above you. Plus the barrier was debatable. I think it was better to skip.
The second trade was better, probably doable. You still have some resistance but, if aiming for a barrier touch, I would say it was worth a shot. The entry was a little aggressive though, some sort of tease. But the barrier was debatable so maybe with a lower barrier you would have anyway entered at that level.
In general, be careful with these IRBs in the middle of a range. If they are exactly on the lower or top barrier then it's much better (you know it but better to remember).

Good luck, keep going!

GBPUSD,.. RB this morning SL got hit.
few more details,.. I anticipated the bulls domination from London Open to follow through. The little W pattern in the ellipse indicated the failure of bears to reach the 20 level. The concern here was buildup, however seeing how bulls persisted I entered the long. Help me judge my judgement on the trade.

Thanks GC,... I remember Volman saying about that a lot of times that IRBs are great taken from the lows or the highs of ranges,.. Thanks for the reminder. Concerning the first IRB, that was a second attempt wouldn't that have improved the likelihood of follow through? Since the resistance to the left was cleared out by the first IRB break attempt?

Good morning ! I also kept my eye on the GBPUSD today. Aiming for continuation in the top/bottom of a wide range often leads to failure. IRB's are the best play in this kind of scenario. This bull move also started from a false low, which greatly reduces probability of continuation. However there is a positive side of this setup, as you mentioned, after a failed breakout bulls kept pressure and built up for the second breakout. Try to take location of the setup into consideration. You noticeably improved in terms of looking for support and resistance, good luck !

Second attempt is better yes, but in this case there wasn't a very clear barrier to break. Moreover, in my opinion, the resistance wasn't cleared, it was confirmed, leaving a big double top.

As for your last trade, I basically agree with Yarek. In general, I think you can try the following: when you see a clear range, start looking only for IRBs barrier bounce (shorting the top or longing the bottom). Then, only if you see a perfect development think in terms of RBs or IRBs barrier breaker. I think this could help you!

Thanks so much GC and Yarek,.. I'm learning a lot from you guys.

First trade in the US morning, RB on the EURUSD,... Exit below the entry line to avoid the 20 level pulling adversly.

Second trade was a trade break for failure as in the UPA book, and basically an IRB/RB depending on how one calls it, exit below the angular line.
Second trade looks like one of the trades I posted here on the forum, it was on the USDJPY, but for this one the box pattern was quite extensive to be given a go.
What do y'all guys think?