I personally have found Bob Volman’s material quite comprehensive and accurate. Although a bit challenging to digest on first glance, I am a strong advocate of his vantage point and psycological forces in the market specifically the 5min charts.
I am writing this to post to see if anyone has also found a similar respect for his material and to see if anyone can offer any insight as to how it has worked out for them and adjustments (especially provided that his material is a few years old). Nevertheless the current underlying principles are there and I want to expand on it.
If anyone has any suggested read or worked on this extensively (or passively) happy to hear from you.
Nope. Because if it worked, he wouldn’t need to sell books with advice. The only time I take advice from a book is if I know he/she makes more from the book than the skill. I’m the case of Forex, the skill pays more than than the book, if they were any good then they wouldn’t be selling books.
It's not bad if you have certain guidelines on the market or someone whose approach you like and whose motivation is certain. Perhaps his approach is really close to you and will help you to understand some nuances, but you should not copy things completely, still the market is unique at every moment ...
Thanks for the inputs Thorgahuginn. I agree. I dont copy his trategy completely. Its hard for any real progress in any field to not be somewhat related to what progress some else has made. (Hence in working in silos).
I've modified it to fit my own style and created a youtube page based on some of its inner workings. Check it out if you get the chacne.
As per my opinion, forex books are quite knowledgeable and helpful to a great extent. Also, it gives motivation to keep learning in forex. Having your own skills is equally important as everyone has their own way of trading with different styles. Having an open mind here can make you learn things from everywhere possible. It’s good to explore new ways of learning.
uxStyle posted: Nope. Because if it worked, he wouldn’t need to sell books with advice. The only time I take advice from a book is if I know he/she makes more from the book than the skill. I’m the case of Forex, the skill pays more than than the book, if they were any good then they wouldn’t be selling books.
Book is good for learning. Trader can gain knowledge from expert trader experience. Some books are also inspiring which I think we needed most.
Thanks for sharing, been on a lookout for good resources.
Here's something that may help. Created a study guide a while back. A bit outdated but most of the great content Bob Volman has in his book is summarized in this study guide. There are a few additional add ons but I remain true to the core of his principles.
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UPOZORNĚNÍ NA VYSOKÉ RIZIKO: Obchodování s devizami přináší vysokou úroveň rizika, které nemusí být vhodné pro všechny investory.
Páka vytváří další rizika a ztráty. Než se rozhodnete obchodovat s devizami, důkladně zvažte své investiční cíle, úroveň zkušeností a toleranci vůči riziku.
Můžete přijít o část nebo všechny své počáteční investice. Neinvestujte peníze, které si nemůžete dovolit ztratit. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions.
Všechny údaje a informace jsou poskytovány "tak, jak jsou". pouze pro informační účely a nejsou určeny pro obchodní účely nebo rady.
Výkonnost v minulosti neznamená výkonnost v budoucnosti.