Understanding Price Action: Practical Analysis of the 5-Minute Time Frame by Bob Volman - Review

 This is a Review by one of the buyers of the courses:

Regarding the Course:

 Name : Understanding Price Action: Practical Analysis of the 5-Minute Time Frame

Type: Book

By Author: Bob Volman

If you have been hearing about Price Action Trading without any indicators (i.e. naked charts) but have been left confused regarding the exact process, entry-exit methods etc then look no further. Bob Volman explains the exact bar by bar replay of a day traders routine from what to look for on a chart without any indicators, to the exact moment of entry and exit. Bob says right on the 1st page that everything that you need to take a trade is right there on the chart and if you cannot spot it straight away then there is no trade there.
Though I must warn you that the language of the book is a bit wordy (i think English isn't his 1st language) but the initial chapters explaining the concepts and practical applications of those concepts is worth a repeat read till you understand them well. Bob explains his simple setup of looking at 5min TF charts only with a 25EMA line on more than 400 charts throughout the book. It is quite amazing how he minutely explains the significance of each and every bar and what to lookout for before entering a trade.
Overall he describes 7 most important PA principles to look for in any chart and describes 5 trade setups to use which are more common sense based then any technical wizardry.  Though all his charts are intraday and on 5min charts of eur/USD, you can very well apply the concepts in any market and any time frame.
In the 2nd part of the book he has analysed a series of six months of consecutive sessions of the eur/usd 5-minute. With nearly 400 fully annotated charts, this section alone contains a massive database of intraday analysis which I am sure you will not find in any other trading book.
In conclusion I would like to add that this is hidden gem of a book which I was fortunate to have read on recommendation and I would definitely recommend to any serious trader looking to understand how to trade without any indicators. 

Note: You can buy it might help you with topics or terms youve been confused or stuck in. And the review is what the person thinks and what are his sole opinions are on this course.

Post a Comment