Bob Volman Forex Scalping Strategy - Explained in Detail - PART II

Hey traders! This video is part 2 of the Bob Volman Forex Scalping strategy.
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In this video, I go back to a random week on the Eurodollar (EUR/USD) using a 70 tick chart and show how Bob viewed the market with the lenses of his strategy. We see how he marks up his support and resistance levels. We see how he considers the 20 levels in his trading system, using them as good targets, but not trading into them. We also notice how he views the 00 magnet and adverse magnet.

I talk about how a trader needs to understand and adapt to market conditions. You can't use a trend continuation strategy in a ranging market and visa versa. Another thing we discussed is how different traders are comfortable trading different setups, even within the same system. Everyone needs to be comfortable with their risk and level of aggression. Bob Volman liked to trade conservatively but he points out the more aggressive trades too. We discuss range breaks, block breaks, advanced range breaks, inside range breaks and double doji setups. We discuss the different sessions, such as the EU session and the UK session, as well as the US session and pre US session. Also, it's important to understand how the beginning of a session and the end of the session, or the end of the week affect a trader's sentiment.

Scalping is a strategy that targets very few pips per trade. The trader needs to be ready and make pinpoint decisions, based on the signals he sees in the chart. FPAS uses a naked chart, no indicators, other than the 20 EMA (exponential moving average). It also doesn't take into account other time frames. But something that's so important as a trader is to be consistent. If you don't look at higher time frames, then never look at them. Once you start using other trading confluences on an inconsistent basis, your profits will also be inconsistent.

So, there's a lot of trading tips to learn from this video, and I hope that you enjoyed this little trading mini-series. Let me know what other trading videos you'd like to see in the future. Please like the video and keep following me.

Thanks guys. Till next time, DD


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