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Volman Style (70-tick chart)

  • #721
  • Oct 17, 2023 4:03am Oct 17, 2023 4:03am
Hi guys I want a suggestion from you all on this topic.

Money is becoming a problem for me as I need a good amount of money to run my trading business and also to cover other expenses as well. All of the responsibilites of my family is on my shoulders. My father died 4 years ago so now I have to look after my mother and my younger brother which makes trading even more harder and risky. So money has become a huge hurdle in my path of achieving consistency. I live in a 3rd world country India, so even working a full time job will give me monthly income of only $100-$250 based on my qualification which is enough to cover trading expenses but I won't have any money left to spend on household expenses which will put pressure on me and make me trade out of greed and fear.

So my mother told me that New Zealand has opened Work VISA and total expense of going New Zealand on a Work VISA would be around $10000-$12000. The minimum hourly wage in New Zealand is a little more than $20. Should I prepare myself for New Zealand as I can earn good money there and send money on monthly basis to my family as well and at the same time can cover all of my personal expenses and have some decent money left to spend on my trading business.

What do you guys think ? I'm confused right now because this option of NZ looks very good but it will make my trading journey very long.
  • #722
  • Oct 17, 2023 4:10am Oct 17, 2023 4:10am
Quoting Hardandsmart
Hi guys I want a suggestion from you all on this topic. Money is becoming a problem for me as I need a good amount of money to run my trading business and also to cover other expenses as well. All of the responsibilites of my family is on my shoulders. My father died 4 years ago so now I have to look after my mother and my younger brother which makes trading even more harder and risky. So money has become a huge hurdle in my path of achieving consistency. I live in a 3rd world country India, so even working a full time job will give me monthly income...
Your Family should come first. What is best for them. Will employment in NZ be more remunerative than employment in your present country. Trading is your LAST consideration after looking at your families needs and prospects and your employment prospects.
every Saint has a past. Every Sinner has a Future
  • #723
  • Edited 10:27am Oct 17, 2023 4:29am | Edited 10:27am
Quoting turnip15
{quote} Your Family should come first. What is best for them. Will employment in NZ be more remunerative than employment in your present country. Trading is your LAST consideration after looking at your families needs and prospects and your employment prospects.
Yes, a job in NZ is more rewarding than a good job in India. For ex: A bank's Branch Manager's starting salary here in India is $600-800 whereas I can earn upto $4000 in NZ by working a blue collar job.
  • #724
  • Oct 17, 2023 6:58am Oct 17, 2023 6:58am
Quoting Hardandsmart
Hi guys I want a suggestion from you all on this topic. Money is becoming a problem for me as I need a good amount of money to run my trading business and also to cover other expenses as well. All of the responsibilites of my family is on my shoulders. My father died 4 years ago so now I have to look after my mother and my younger brother which makes trading even more harder and risky. So money has become a huge hurdle in my path of achieving consistency. I live in a 3rd world country India, so even working a full time job will give me monthly income...
Hi Hardandsmart,

I'm sorry you're having a hard time. I definitely agree turnip15, you should think about your family and about a solution which is more safe for you and for them. Becoming successful in trading when dealing with fear and greed is close to impossible, as I told you last time. The trading journey would become anyway long, so you better take the safest alternative for the moment. I encourage you to follow this NZ opportunity. You can even consider working just for some time to save some money and then come back to trading full time. In any case, you need a change and something that would make you feel a little bit safer and would lower the psychological pressure you're experiencing now.

Good luck, I wish you all the best!
  • #725
  • Oct 17, 2023 7:17am Oct 17, 2023 7:17am
Quoting GC-Finance
{quote} Hi Hardandsmart, I'm sorry you're having a hard time. I definitely agree turnip15, you should think about your family and about a solution which is more safe for you and for them. Becoming successful in trading when dealing with fear and greed is close to impossible, as I told you last time. The trading journey would become anyway long, so you better take the safest alternative for the moment. I encourage you to follow this NZ opportunity. You can even consider working just for some time...
Thanks for the advice GC. I am looking for good immigration agents here in India because there are a lot of scammers here and I don't want to lose money again so taking my time. Happy trading.
  • #726
  • Oct 18, 2023 2:38am Oct 18, 2023 2:38am
Hi, I thought I will apply for New Zealand Work Visa but funds are not enough for it and now my family has told me that they would like to spend that money on my younger brother's higher education so now I'm looking for a job here in India and I will try best to stick with trading and improving myself doing trading for 3-4 hours a day. Let's see what happens.
Happy trading.
  • #727
  • Oct 18, 2023 6:43am Oct 18, 2023 6:43am
Quoting Hardandsmart
Hi, I thought I will apply for New Zealand Work Visa but funds are not enough for it and now my family has told me that they would like to spend that money on my younger brother's higher education so now I'm looking for a job here in India and I will try best to stick with trading and improving myself doing trading for 3-4 hours a day. Let's see what happens. Happy trading.
Hi Hardandsmart, I'm sorry you can't apply for New Zealand Work Visa but the plan of working in India still looks good. As I said there's too much pressure for doing trading only. Good luck with it! Let us know how it goes!
  • #728
  • Feb 16, 2024 7:09am Feb 16, 2024 7:09am
The single most important factor contributing to either success or failure in the markets is a trader's ability to distinguish fiction from reality. Much more than technical skill, mental health accounts for the decision-making process to run smoothly or not. - Bob Volman
  • #729
  • Mar 26, 2024 2:37pm Mar 26, 2024 2:37pm
Range breakout/Pattern break.
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  • #730
  • Mar 27, 2024 1:53am Mar 27, 2024 1:53am
Quoting Hardandsmart
Range breakout/Pattern break. {image}
Hi Hardandsmart, happy to hear from you. Too many trendlines on the chart for me but nice breakout!
  • #731
  • Apr 1, 2024 9:30am Apr 1, 2024 9:30am
Pullback Reversal setup:

00 Round number working as a favourable magnet as well.
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  • #732
  • Apr 1, 2024 10:44am Apr 1, 2024 10:44am
There was something I didn't feel right about this trade but I don't know what. So I exited at Breakeven. What was wrong with setup?
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  • #733
  • Apr 1, 2024 11:44am Apr 1, 2024 11:44am
Attached Image (click to enlarge)
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Valid Pattern break pullback (Blue circle) setup or not?
  • #734
  • Apr 2, 2024 9:11am Apr 2, 2024 9:11am
Hello trading members using author Bob Volman's method,
I am a new member to the forum, currently I am trading according to Bob's method. There is a content that needs everyone's help: how to reopen the 70 tick chart of EURUSD in 2012. I need to manually analyze the details on the platform compared to Bob's transaction log directory
  • #735
  • Apr 9, 2024 2:30am Apr 9, 2024 2:30am
Hey guys, sorry for late replies, somehow I didn't get the notifications and miss your posts.

Quoting Hardandsmart
There was something I didn't feel right about this trade but I don't know what. So I exited at Breakeven. What was wrong with setup? {image}
Maybe the pullback was a little strong and shallow, but I think it was valid.

Quoting hanhada
Hello trading members using author Bob Volman's method, I am a new member to the forum, currently I am trading according to Bob's method. There is a content that needs everyone's help: how to reopen the 70 tick chart of EURUSD in 2012. I need to manually analyze the details on the platform compared to Bob's transaction log directory
Well I don't know where you can find so old historical data (old in regard to the 70-tick). It's already hard to find quality tick data (that are not too expensive) and in general they don't go so far back in history. 12 years of tick data is a huge amount of data. Anyway, you can try to search on Dukascopy, here's the link: https://www.dukascopy.com/swiss/engl...ch/historical/
You can then load the historical data into MT4/5 (or others) and create a chart from it but not sure about the procedure. Anyway you first need to find the data and it won't be easy, good luck!
  • #736
  • Apr 16, 2024 9:24pm Apr 16, 2024 9:24pm
Hello
You gave me a very high quality answer, and I have also used it and feel very satisfied.
currently i am trading bob's method on 5 minute time frame. What kind of trading method do you use?
  • #737
  • Apr 17, 2024 8:16am Apr 17, 2024 8:16am
Quoting hanhada
Hello You gave me a very high quality answer, and I have also used it and feel very satisfied. currently i am trading bob's method on 5 minute time frame. What kind of trading method do you use?
That's great, I'm glad to hear it was helpful. As for me, I'm currently working mostly on algorithmic trading, that is, developing EAs and automated strategies. However, I do still trade Volman style on EURUSD 5-min occasionally, along with some swing trading on D1 or H4 with a different strategy. In the past, I also used to trade EURUSD 70-tick and XAUUSD (gold) 240-tick, as you could see from my old posts in this thread.
  • #738
  • Apr 19, 2024 10:56am Apr 19, 2024 10:56am
If I guess correctly, you are European or American! I see that traders in this area often develop in a logical and direct way! And I am from the country of Vietnam. I have only been trading for a short time, only 3 years. Looking forward to hearing your introduction!
  • #739
  • Apr 22, 2024 3:00am Apr 22, 2024 3:00am
Quoting hanhada
If I guess correctly, you are European or American! I see that traders in this area often develop in a logical and direct way! And I am from the country of Vietnam. I have only been trading for a short time, only 3 years. Looking forward to hearing your introduction!
I'm Italian, so European, yes. Now I've been trading constantly for only 2 years, less than you then. If we consider using bots then maybe I reach 3 years. Plus I had tried trading for a short period maybe 10 years ago, so I wasn't totally new when I re-started, about 2 years ago. Moreover, my background and previous career are related to finance, which helped a bit for some aspects of trading (especially concerning bots).

As of now, the biggest struggles are:
- for bots, finding one which is safe enough (not too big maximum drawdown) and with stable enough profits (not too long maximum drawdown duration). Because as of now, with the bots I developed, I can reach only one of the two conditions, never both (yet).
- as for manual trading, further improving on the emotional side. As I still didn't overcome some bad habits.

How is it going for you?
  • #740
  • Apr 22, 2024 11:33am Apr 22, 2024 11:33am
Even though I traded for 3 years, for the first 1.5 years I was lost and disoriented. In the past 1.5 years, I have focused on learning from Bob Volman. You and I have one thing in common: we have other jobs related to finance (I work in accounting - tax). I once compiled all the trading logs in the 5-minute chart book. And I have saved the important features, if you need, we can discuss via a certain chat channel (I don't know if I say this violating forexfactory's policy!) Regarding trading psychology, have you read the book trading in the zone?
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