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Forex Price Action Scalping: an in-depth look into the field of professional scalping Paperback – October 11, 2011
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Top Customer Reviews
After making it halfway through the book and putting the setups to the test, it has become clear to me that Bob (hope you don't mind me calling you Bob) went the extra mile to uncover the fundamental details that are required to successfully trade his setups. In my experience, 98% of the other books out there (especially Forex books) leave those little but essential details up to you to figure out over time. The problem with that is, if you are lazy and want something for nothing like many of us do, you are probably gonna drop those other books fairly quickly, jump back on your horse, and continue your search for the Holy Grail (instead of doing the hard work that is required to be successful with them).
Good news, in this book, Bob has already done all of the hard work for you. This book is like food-stamps for the starving trader. I highly recommend this book.
Volman presents each chapter with a general introduction to an idea. He then proceeds to give many examples with much, much commentary. At first, I was a little dissapointed with the book. Flip through it, and there are relatively few charts. But, it is only an illusion. There are few charts per page because Volman explains so much for each chart. And again, the reading isn't dry. Volman has a witty flair for English and a dry sense of humor that makes the multi-paragraph (and page) commentary for each chart seem like a short figure caption.
This is the real stuff, too. No smoke and mirrors, laggy indicators and outlandish performance metrics. Read Volman's book, and turn a simple candlestick chart into an amazing drama of tug-o-war.
In some ways it strikes me as a sort of a price action short hand when you compare it to Al Brooks writings but nevertheless I think it very insightful and I plan on using some of the methods in trading equities.
I don't remember anything in the book that struck me as off or not matching my experience in the market. Every chapter rings true and fits the true reality of day trading like only a very small percentage of trading books do. I found myself nodding my head quite a few times in agreement with Bob's lucid explanations of many of the details of trading as a whole. My favorite quote is... "simple because the edge is not a thing that can surface by itself. It can only be obtained by the blood, sweat and tears of committing oneself to countless hours of studying markets, patterns, set ups and price action principles."
The book (of quality) most similar to this book is Brooks's Trading Price Action Trends: Technical Analysis of Price Charts Bar by Bar for the Serious Trader (Wiley Trading). This is also something that has been picked up by many customers since that book is also cross-listed on amazon for its similarity. Some similarities and differences:
- Brooks uses five minutes charts and the current book uses 70 tick charts (which works out to quite close to 30 seconds chart).
- By going straight to the set-ups, the current book is a little bit more practical than Brooks's three volume set.
- Brooks is focused on S&P500 futures trading and the current book EURUSD trading.
- Brooks provide a lot of market commentary on a blog. The author of the current book is pretty anonymous on the Internet. You shouldn't trust the author solely based on having a displayed track record, but it is nice to have.
- Brooks is much more wordy than the current author. Still even the current author is a bit meandering and repetitive.
It is not a bad idea to start with Volman's book. If you want more knowledge on daily price movements then you should look into Brooks's three volume set. (The three volume set has superseded the link provided above.Read more ›
Most Recent Customer Reviews
I don't understand how this book is useful for some people?Published 3 months ago by Cliente Amazon
One of the best price action based technical analysis book I ever read. The book is mainly forcused on EUR/USD pair and may not be applicable to other currency pairs. Read morePublished 4 months ago by S. Attanayake Mudiyansel
I'm a novice so this is a five stars for the concept and insight it gives though I haven't finished the book yet.Published 5 months ago by Novice
I've read this and Volman's Understanding Price Action (which I'll duplicate this review in) books a few times each, but don't think I could ever really understand, let alone... Read morePublished 6 months ago by zzrose
do not buy this book. Buy his 2nd book. I have both.
Do not read these books to try to trade what he talks about. Read more
Great theories in here, i was too self defeatus to finish the book and implement them, even though i'm sure they work. Read morePublished on August 27, 2014 by jordan hidalgo