Forex Price Action Scalping: an in-depth look into the field of professional scalping

I haven't written a review on Amazon before as i deem it too time-consuming. However, i am so impressed with this book and the author that i simply had to. As a newcomer to trading, this book has been incredibly helpful. I realize that the conversationist style of the author may put some people off, however it is really good in making you remember things, which is what i want from my trading books. This being the second book on trading that i am reading, my understanding of price action has skyrocketed. I cannot speak for the professionals as i am approaching this from my own perspective, however i highly recommend this book as an introduction to new and intermediate level traders, approach it as a block of knowledge and not a guide. I would also recommend that one would have to read it again and again, as with many of the reviews here, as a number of charts and analysis can be difficult to remember at times. Also, do not hesitate to buy the follow up of the book

I really like the information it contains & can see a lot of potential but to fully understand & condense the information, it takes a bit of work. The writer comes over as well educated & knowledgeable but he needs to be introduced to the concept of bullet points and/or summaries of the steps he is suggesting. Although you can tell he has written the whole book, each chapter seems to be written in slightly different ways. He has a conversational style but I don't think it is really suited to this type of book. Making notes is very hard going. I decided to highlight parts in the book (something that goes against the grain), then make notes from those highlighted parts. He gives lots of examples showing his methods in action & goes into detail about all of the little nuances. However, a summary version for those that have read it would be a welcome addition

Bob Volman is an exception in the world of trading book authors in that he under sells the book. Whilst all examples relate to 70 tick eu/usd they could just as well be for any commodity tick chart printing bars in 30 sec on average. His principles in fact apply to any tradeable commodity and indeed to any time frame. Much of content boils down to a condensed version of Al Brooks's publications, but it is written in a much more coherent manner and far easier to assimulate. If he decides to re-name next edition " Traders Bible" to widen the audience a lot of the dubious authors and web based gurus who consistantly over promise and under deliver will soon fall to the wayside.

This is a phenomenal book. Very well written with strong in-depth analysis of the charts presented - in fact that analysis alone is worth the price of the book. The author trades uses the 70 tick chart to trade from, but the setups work regardless (I trade the 5 minute), and regularly repeat on the hourlies/4 hourlies/dailies/weeklies. If you really want to increase your understanding and cultivate the ability to trade bar by bar, get this book.

The only thing new in the book was tick charts which was worth the money for me , to me everything else in the book is reinvent the wheel.I don't use what he suggested , but use 200 tick charts.Same old stuff here like scalp with trends , trailing stops and box breakouts in ranging markets.He talks about probabilities and edge , yet many of box/range breakout set ups , in ranging markets , have no better than 50/50 chance of success less spread .The author has his own definition of edge ,it is based on trader's ability to read the markets .It would seem to me , to be a discretionary method , one that can not be used by everybody as per textbook.The range breakout strategies are the same old box/range breakout technical analysis strategies rehashed and all this stuff is available for free on the internet. A professional trader would look more for support and resistance , and filter out randomness and set ups in fx random transactions which appear to be valid set ups according to the range break set ups. the book is short on these aspects and barely covers support and resistance .and there is no confidence to put on live trades , based on the ranging breakouts.The book in my opinion , falls short to deliver a high probability scalping method in a few words.Breaks of 1 pip in random transactions or volatility increases and noise only exist in real markets , but not in text books. The author makes a lot of claims , but does not verify any of them with any statistics or study results.There is no probability data on the success/failure rate of each of his set ups , there are no historical results of actual live performance of his set ups.There are a lot of tease breaks and false breaks , but without knowing the probabilities of success/failure , one can not use the methods for live trading. This book is well written in easily absorb able literature , but the important thing is the content , and if it can be applied practically by someone else for live trading .Practicing his methods can help some to learn trading in the lower time frames but it can also become a detriment to a trader , if many set ups fail due to randomness and market conditions , for a prolonged period of time.Can all the content be applied profitably ?. I very much doubt it .I read a load of dubious set ups , many things he suggests , I would do the opposite in live trading , many traders look for the failure of set ups to trade against.One of his set ups ARB , acknowledges the failures of the other range break set ups , and is intended to be used when they fail.Similar methods are used by amateurs on forex forums , there is nothing to suggest a superior method of trading ,in my opinion. Many professional scalpers like to trade the opposite to the range breakouts , due to the high failure rates of range breakout trading.They prefer to sell at the top of the range and buy at the bottom of ranges , i.e selling at resistance and buying at support.Ranges in the fx charts come in different shapes like channels and diagnol trend lines , this book barely touches it. Money in the gold rush was made by selling picks and shovels , in the trading industry gold rush it is made by selling books ,seminars , education ,software and signals .The trading industry is full of rogues . Any decent professional of Guru status , would easily become a billionaire from trading and scalping , they would not have time to write a book.Just do a google search of compounding billionaires , you will see what I mean. The only evidence we have is Bob Volman make money from writing books on Amazon.I look forward to more books from this author.

I really enjoyed this book, there was some really nice info on tick charts I had never read before. If you are interested in learning to scalp 1 or 2 pips on a regular basis then this is a really good book and Bob puts over lots of quality methods and examples. Personally even though I enjoyed the book and had some success with the methods, I found there was too much noise in these low timeframes and you need to be eagle eyed and have the reactions of a fighter pilot to make regular profits. Plus unless you have market data from a source like Bloomberg or TradeStation etc you are only going to see your brokers price data and nothing else which puts you at a disadvantage as your only ever seeing part of the picture which is huge when it comes to scalping these smaller timeframes.

Not a work of literature but this is one of the few trading books that genuinely helps the reader to read price action, so I suppose I have to give it 5 stars. But a note of caution: The set ups won't work forever and, indeed, may not longer work. The value of this book is the insight it gives into how to read price action and also seeing the disciplined appraoch that the author adopts.

Ok

This is actually the first time I write a book review, but since Bob Volman's book is so good (in my humble opinion), I decided to take the time to convince others that 'Forex Price Action Scalping' is worth every penny. Simply said, it stands out from all other Forex books. No 'getting rich quickly plans', no setups that will make a 'killer profit'. Just sound advice that will make you a decent scalper, if, and only if, you are willing to put in thousands of hours training and learning the craft. This is a serious book for the serious trader and, as mentioned before, has many parallels with the book on trading price action by Al Brooks(books that is, since he rewrote his first work and spread the information among three books). Al's book is a real masterpiece, but a very hard read. I believe Bob does a better job in writing a readable book. The only thing I miss, are some insights on how to deal with/ or to refrain from news. Apart from that, I really like the fact that this scalper gives us an insight in the work and methods of a Forex scalper - this in contrast with the many books on scalping in futures markets. If you are planning on becoming a serious Forex trader - then by all means BUY THIS BOOK!

Si puedes leerlo en inglés, es una gran herramienta para aprender auténtico "price action" en temporalidad de 5M. Tiene muchos gráficos bastante interesantes, no sólo de grandes tendencias, y el autor tiene los pies bastante bien asentados en el suelo, sin ofrecer al lector hacerse millonario en dos meses tras leer su libro.

Best book

Il libro ha un titolo un po' fuorviante in quanto parla di FOREX trading ma, in realtà, i principi in esso enunciati a mio avviso ben si adattano a qualsiasi tipo di analisi del prezzo su grafici "veloci". L'autore tratta di 7 set-up abbastanza accessibili anche al neofita, basati sull'analisi del grafico a candele a 70 tick, in sostanza un grafico molto veloce ove ogni candela viene tracciata sulla basa di 70 transazioni sul mercato FOREX. Molto correttamente, a mio avviso, l'autore non consiglia l'uso di indicatori o oscillatori esoterici, ma soltanto di una banale media mobile esponenziale a 20 periodi, per cui al lettore viene insegnata la mera (ed efficace) lettura dell'azione del prezzo e l'operatività conseguente è dettata dalla lettura che i set-up consentono di tale azione. Si tratta, beninteso, di una trattazione delle basi che non arriva certamente alla profondità e alla complessità di quella di Al Brooks nella sua monumentale opera in tre volumi, reperibile almeno in formato Kindle su Amazon.it. Tuttavia, al contrario di quella di Brooks, la trattazione di Volman è accessibile e "digeribile" anche dal lettore meno esperto. Ovviamente, come tutto ciò che riguarda il trading, il libro va letto, capito e studiato; poi va testato con piccole somme sul ForEx ove è possibile fare trading anche su mini contratti, mettendo a rischio 20$ max ad operazione. In sintesi: lettura suggerita come base di partenza e soprattutto, senza aspettative di aver trovato la pietra filosofale che trasforma ogni vostra operazione in oro. PS La pietra filosofale vi serve per distinguere i cialtroni dai trader seri. Se qualcuno vi promette un guadagno certo o un x% garantito, bene quello è sicuramente un cialtrone.

Zu Anfang hatte ich großen Respekt Fachliteratur in englischer Sprache zu lesen, da ich mir dies sehr schwer vorgestellt habe. Nach rund 100 Seiten (und vielem Nachschlagen bei Online-Übersetzern) bin ich allerdings immer schneller voran gekommen. Der Inhalt des Buches ist m.E. umfangreich genug und der Autor zeigt durch passende Charts auf, was er beschreibt. Auch ist in dem Buch eine Mail Adresse des Autors und ich konnte dadurch Kontakt mit ihm aufnehmen. Er beantwortete meine Fragen zu meiner vollsten Zufriedenheit und sehr schnell. Da ich von diesem Buch bereits so begeistert bin, habe ich mir auch das zweite Buch von Bob Volman bestellt und lese dieses bereits.