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Trendline Scalping 4hr timeframe

  • #821
  • Aug 20, 2010 6:24am Aug 20, 2010 6:24am
Quoting john19r
no but took a quick look what is ur tp and entry it looks on the 4hr chart that it went up by 40pips?
JOHN, sorry for the delay, it got up 35 from my entry and i wanted 50ish so i didnt take and ended up B/E.
CHEERS ANT
Stop killing our Oceans, Stop using single use plastics.
  • #822
  • Aug 20, 2010 8:05am Aug 20, 2010 8:05am
Anyone in G/Y ?
  • #823
  • Aug 20, 2010 8:22am Aug 20, 2010 8:22am
Anyone in G/Y sell ?
  • #824
  • Edited 9:39am Aug 20, 2010 8:41am | Edited 9:39am
Quoting sunny17
Anyone in G/Y sell ?
I'm in now..
  • #825
  • Aug 20, 2010 9:50am Aug 20, 2010 9:50am
I didn't want to take the trade because today is friday . Hope you get nice pips
  • #826
  • Aug 20, 2010 9:51am Aug 20, 2010 9:51am
no response from the rest
  • #827
  • Aug 20, 2010 10:49am Aug 20, 2010 10:49am
Quoting sunny17
no response from the rest
lol
maybe they're not trading today..
  • #828
  • Aug 20, 2010 12:03pm Aug 20, 2010 12:03pm
Looks like its going up . You need to monitor closely
  • #829
  • Aug 20, 2010 5:14pm Aug 20, 2010 5:14pm
Quoting sunny17
I didn't want to take the trade because today is friday . Hope you get nice pips
last two candles are not to be traded so good call on not trading . who took this trade and was it profitable
?
  • #830
  • Aug 20, 2010 7:12pm Aug 20, 2010 7:12pm
Quoting john19r
last two candles are not to be traded so good call on not trading . who took this trade and was it profitable
?
It was bad for me..
got my stop loss..
but it's ok..let's do the next trading on the next week..
  • #831
  • Aug 20, 2010 10:06pm Aug 20, 2010 10:06pm
Hi David ,

We need to know your system better . How do you consider a valid trade . Its not just L1 , L2 and L3 , right ?

You can give some examples of In-valid trades as well .


Thanks
  • #832
  • Aug 21, 2010 1:04pm Aug 21, 2010 1:04pm
David, I just ran into your thread....very happy to be here. I've been using a version of your method for a bit.

I use the break of the previous trend line and the second bounce off the new trendline. I'm getting the same results. I started to use the Fib as a final deciding factor to enter. Also some other indicators but I probably don't need them. It just makes me feel better. Here's a picture below that's an example.

I get about 20 pips on average off the 15 min chart. It seems to place me right at the beginning of the long runs especially on the yen pairs....at 5-12pm eastern. I use 15 pips as a stop loss. That is usually a little high if I use all the indicators. If I go more then 15 pip sl then I've made a real mistake or it's fooled me completely. Doesn't happen often.

It was interesting that your software evaluated a trendline to the bottom of the falling price instead of the top. I usually place the trend line on the top falling and bottom climbing. There were three round tops falling.. The pointed reversals were on the bottom. It was saying to take a counter trade. And it worked!
Attached Image (click to enlarge)
Click to Enlarge Name: trendbreak2.gif Size: 21 KB
  • #833
  • Aug 22, 2010 9:50am Aug 22, 2010 9:50am
Dammit, David; you owe me big-time. My kitchen is an international-standard health hazard that I was going to spend the afternoon cleaning. Instead, I have spent it reading this thread.

Guys, this and the Nanningbob V5 thread are soul mates. This one shows us how to trade the trend after a bounce off the trendline. Bob's shows us how to catch the retrace after a strong move. We are making a killing over there; you are making a killing over here.

Combine the two methods and the results will be fantastic. Bob's thread is http://www.forexfactory.com/showthread.php?t=246113. There is no need to read it all; read the first 10 pages or so to get the idea, then skip to the last 10.

I am going to adapt two of my trade-sending ea's for use by the conservative traders here, or for those of you trading more pairs than are set up by nn.

Bob's system involves identifying the setup, then adding the ea to make sure we do not miss the trigger. I shall adapt a buy and a sell ea so that the trigger is the third touch of the trendline, either immediately or at the open of the next candle etc - some time over the next couple of days.

I shall code a semi-automatic trader as well, once I have made a few live trades and am sure I know what I am doing. This may turn out to be unnecessary, but coding trading robots is in my blood.

I am not trying to move people over to Bob's thread; I am about to post a link to this one here. I think a combination of the two trading styles gives us a formidable trading weapon.

  • #834
  • Aug 22, 2010 1:31pm Aug 22, 2010 1:31pm
Here are the EA's I mentioned in my previous post. There might be bugs - we shall see.

There is a pdf to describe their use.

Attached File(s)
File Type: zip David486 4H Trendline EA's by Steve Hopwood.zip   76 KB | 377 downloads
  • #835
  • Aug 22, 2010 1:44pm Aug 22, 2010 1:44pm
Wow Steve, you were very busy. Thanks a lot for the EAs.

Btw. what about your kitchen?
  • #836
  • Aug 22, 2010 3:11pm Aug 22, 2010 3:11pm
Quoting fguru
Wow Steve, you were very busy. Thanks a lot for the EAs.

Btw. what about your kitchen?
The kitchen could still wipe out humankind.

Bugs in the EA's could wipe out accountkind. Put them on demo until we are sure there are no bugs.

  • #837
  • Aug 22, 2010 3:34pm Aug 22, 2010 3:34pm
Hi Steve

I've had a couple of attempts at reading the nanningbob thread but cant make osense of it. Most probably because it has evelved over a long time. Can you point me at a good place to start (maybe one of the earlier evolutions).

I also dont like robots...can the system be traded manually?

GG
Now trading live
  • #838
  • Aug 22, 2010 4:18pm Aug 22, 2010 4:18pm
Quoting Gg33
Hi Steve

I've had a couple of attempts at reading the nanningbob thread but cant make osense of it. Most probably because it has evelved over a long time. Can you point me at a good place to start (maybe one of the earlier evolutions).

I also dont like robots...can the system be traded manually?

GG
Don't trade forex live, will you? You will lose all your money. If you cannot even start with post 1 of Bob's thread and carry on from there, then you are doomed.

Which bit of, "There is no need to read it all; read the first 10 pages or so to get the idea, then skip to the last 10." is causing you difficulty?"

An asinine post like this in one of my threads would earn you a ban from all of them, so think twice before replying.
  • #839
  • Aug 22, 2010 4:38pm Aug 22, 2010 4:38pm
Quoting Gg33
Hi Steve

I've had a couple of attempts at reading the nanningbob thread but cant make osense of it. Most probably because it has evelved over a long time. Can you point me at a good place to start (maybe one of the earlier evolutions).

I also dont like robots...can the system be traded manually?

GG
GG

With respect to the thread master I will only mention the other thread this time only. If you go to page 1 of that thread and download the 3 zip files, in one of them you will find word documents, one of them is 30 pages read that first. It is a manual counter trend system and EAs are used to get better timely entrance.

DAVID,

Sir, your thread was bubbling but now it will start Buzzing big time. Steve is one of the best (and some say the BEST) coder in FF. He has a huge following which include some of the best minds in forex. They will soon be visiting and contributing to your thread. You have a fantastic system here and I guess the above mentioned people would assist you in fine tuning and evolution of your system. As Steve says these are exciting times. Thank you for designing and sharing your great system with the FF community.

Kind regards
  • #840
  • Aug 22, 2010 11:07pm Aug 22, 2010 11:07pm
Quoting SteveHopwood
Don't trade forex live, will you? You will lose all your money. If you cannot even start with post 1 of Bob's thread and carry on from there, then you are doomed.

Which bit of, "There is no need to read it all; read the first 10 pages or so to get the idea, then skip to the last 10." is causing you difficulty?"

An asinine post like this in one of my threads would earn you a ban from all of them, so think twice before replying.
thanks alot steve for the code really apprecaiate it and im sure the people that follow this thread will aswell. agree with what you stated about mt4 eas in the pdf. thats why i coded this nnclient in c++ i dont have this problem + works on non mt4 based accounts
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