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Bob Volman - Price Action Scalping
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Bob Volman - Price Action Scalping

  #51 (permalink)
Trading Apprentice
san francisco, ca
 
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Price Action Trading

I love Bob Volman's book.

It is readable and practical. (It'd be nice if the charts preceded the discussion about them but that's about the only caveat).

I am crazy about Mack @ priceactiontrading.com. Mainly he focuses on 2nd breaks which is a chapter in Volmnan's book.

Very similar principles but you get a daily review of what Mack's trades and you can replay the day on ninja and get into the mindset. That's an incredible learning tool.

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  #52 (permalink)
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Just ordered the book

Over at trade2win there's an ongoing forum

Also there's a zipfile w/ his charts from this year

-Bill

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  #53 (permalink)
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hi, how find zip file?

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  #54 (permalink)
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Look at the last/ latest post from BLS

-Bill

EDIT

It's the post above mine

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  #55 (permalink)
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So far I like the book but have noticed one peculiar thing, at least to me.

"The trading platform may show prices in increments of pipettes (tenths of a pip), but that will not do for the chart." p45

He continues on pg46

I get what he's saying since he's extreme scalping

To me then why doesn't he trade futes?

No big deal

-Bill

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  #56 (permalink)
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WilleeMac View Post
So far I like the book but have noticed one peculiar thing, at least to me.

"The trading platform may show prices in increments of pipettes (tenths of a pip), but that will not do for the chart." p45

He continues on pg46

I get what he's saying since he's extreme scalping

To me then why doesn't he trade futes?

No big deal

-Bill

Good question. I was thinking the same, why trading Forex where the cost of doing business is higher and more risky.

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  #57 (permalink)
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Only on chapter seven

IMO he's doing a damn good job of explaining this and that

Refreshing to read a bunch of stuff I thought i knew

-Bill

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  #58 (permalink)
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trendisyourfriend View Post
Good question. I was thinking the same, why trading Forex where the cost of doing business is higher and more risky.

I don't know exactly how he would answer that, but I can guess.

He states his method would work for any instrument. Perhaps he is focusing on Spot Forex EUR/USD because its a good beginner/training instrument and he needs a single instrument for consistency vs jumping between instruments. Makes sense to me.

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  #59 (permalink)
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Not sure about that, could be

All I trade is /6E

Although it's very technical as to the set ups, 50% retrace etc (eminiaddict.com)

It's by no means easy/ beginner

-Bill

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MrYou View Post
I don't know exactly how he would answer that, but I can guess.

He states his method would work for any instrument. Perhaps he is focusing on Spot Forex EUR/USD because its a good beginner/training instrument and he needs a single instrument for consistency vs jumping between instruments. Makes sense to me.

I was looking at FXCM spread for the EUR/USD and i think the average spread is 2.6 pips. With this method the author aims for 10 pips so if we substract 2.6 pips at the entry and 2.6 pips at the exit there is not much profit left. This is what i meant by paying a higher cost and why scalping in the Forex market is a losing proposition.

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