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Trendline Scalping 4hr timeframe

  • #901
  • Aug 30, 2010 8:43am Aug 30, 2010 8:43am
Quoting driftwood
hello Precap, david do say all that john19r say but i look longer to some times I watching this EJ for now what u think?
Missed your post while hitting the Buy/Sell button
See current position as per my chart. Hey, don't ask me about the rainbow
Attached Image
Mystery Is The Final Product Of Ignorance. Hey! What's ma chart doin'
  • #902
  • Aug 30, 2010 8:45am Aug 30, 2010 8:45am
Quoting driftwood
hello Grath did u clik on ok? Shows fri usd/jpy trade for me and YES successful.
Oh what a silly sausage I am! Thanks for that. All OK now (no pun intended).

G
  • #903
  • Aug 30, 2010 9:07am Aug 30, 2010 9:07am
Quoting Precap2
Missed your post while hitting the Buy/Sell button
See current position as per my chart. Hey, don't ask me about the rainbow
hello Precap2, i close at BE to much BOJ intervention talks. Better safe i think Good luck for u
  • #904
  • Aug 30, 2010 5:06pm Aug 30, 2010 5:06pm
Quoting debono
Hi John
With regard to the comment that it isn't really a trendline. That comment is correct. It would be a stretch to take those points and call the price movement a trend however for the sake of this set up of Davids my question is does it matter?
Is it the 3 hits that are important or should it be a defined trend first?
I think overall everyone should be congratulated on their general good banter and support. It is unusual in any forum not to have ego come into play.
.
It beats my imagination and gets me real puzzled to see such huge display of ignorance in the open all in the pretext of having monopoly of knowledge....Like I earlier stated...''If you dont understand what's being done, ASK questions, rather thatn get too jumpy and willing to show off your coated ignorance..

Someone wrote on Trendlines....please try and get it and read..before coming out here to show off.........
  • #905
  • Aug 30, 2010 6:09pm Aug 30, 2010 6:09pm
Quoting Grath
I have nothing in status. What might I have missed in installing the nnclient?
click on ok grath. there are no current trades hopefully tonight or tomorrow night
  • #906
  • Aug 30, 2010 6:59pm Aug 30, 2010 6:59pm
Quoting Ftafx
It beats my imagination and gets me real puzzled to see such huge display of ignorance in the open all in the pretext of having monopoly of knowledge....Like I earlier stated...''If you dont understand what's being done, ASK questions, rather thatn get too jumpy and willing to show off your coated ignorance..

Someone wrote on Trendlines....please try and get it and read..before coming out here to show off.........

Oh dear!

I thought we had a thread where we didn't have this type of postING. I guess not.
Shame.
You try to ask questions and offer help from over 10 years trading full time and you still have the 'kids' trying to throw their weight around.
I guess Steve has the right approach to them.

anyway Dave or others.
A couple of failures with the JPY crosses influenced by news even if the crosses ocurred more than an hour away.
I am still interested whether you trade the 'hits' with a trend or support/resistence or both.
By the nature of the market we must have failures in any case or else the market will forever trend in one direction so I am less concerned with failures and more concerned with set up. If it is being auto bot traded then I am thinking thinking that it must simply take the trade on a third hit regradless of whether it is a tend or it hits support/resistence.
One other little point I have noticed whilst looking for strength through confluence is that if you have your pivots showing and the trend line crosses through the pivot it is surprizing how often this point is a strong bounce point whether the 3 hit or 4th 5th etc
  • #907
  • Aug 30, 2010 7:35pm Aug 30, 2010 7:35pm
Quoting debono
Oh dear!

I thought we had a thread where we didn't have this type of postING. I guess not.
Shame.
You try to ask questions and offer help from over 10 years trading full time and you still have the 'kids' trying to throw their weight around.
I guess Steve has the right approach to them.

anyway Dave or others.
A couple of failures with the JPY crosses influenced by news even if the crosses ocurred more than an hour away.
I am still interested whether you trade the 'hits' with a trend or support/resistence or both.
By the nature of...
i have been trading this thread since dave posted. the rules are simple. not to trade 1 hr before or after news. now if the news is high impact and deviates greately from the forcast it can still stuff a good trade due to the bull or bear rally. going on these rules + a bit of trading intuition trading the 3rd bounce based on nothing but a bounce has yielded me 8 in ten trades success. nothing is 100% but 80% is good for me. hope this helps
  • #908
  • Aug 30, 2010 9:31pm Aug 30, 2010 9:31pm
Thanks John

Are you trading long and short. I think Dave was just trading long?
Alos are you only trading the 3rd hit ie if it comes back and hits it again a day later do you ignore it or trade it?
I agree a bit of trading nous is always required and things are never black and white. The cause and rapid decline in price on JPY crosses indicated that traditional resistence lines may be broken.
My point however is that if it is auto botted then hat can't be taken into consideration automatically. It still requires human intervention to decide on whether the trades would be set up in the NN as an example.
Not a big fan of auto bot trading but then I am pretty ignorant in this area so my views count for little.
Thanks for the reply
  • #909
  • Aug 30, 2010 9:57pm Aug 30, 2010 9:57pm
Hello, I am currently testing this strategy. However, I am a new at this trendline scalping technique and I need some advice from the more experienced user of this strategy on several things as follows:
1. I know that the thread starter usually trade GBP/JPY using this strategy (due to its high volatility), however, does this strat. works well for other pairs too?

2. If it does work for other pairs, do we need to make adjustments to the TP and SL set up?

Any advice or suggestions are welcomed.

bun
  • #910
  • Aug 31, 2010 1:33am Aug 31, 2010 1:33am
anyone take the aud trade? +30 pips here
  • #911
  • Aug 31, 2010 2:04am Aug 31, 2010 2:04am
Quoting debono
Oh dear!

I thought we had a thread where we didn't have this type of postING. I guess not.
Shame.
You try to ask questions and offer help from over 10 years trading full time and you still have the 'kids' trying to throw their weight around.
I guess Steve has the right approach to them.

anyway Dave or others.
A couple of failures with the JPY crosses influenced by news even if the crosses ocurred more than an hour away.
I am still interested whether you trade the 'hits' with a trend or support/resistence or both.
By the nature of the market...
I guess you think yourself to be the longest full time trader thereis right?..''Adult'' who feels the ''kids'' are less off than he his.... Pride wont get you far...and i'm almost certain what your 10 years trading experience is like...Its not how far but how well that really matters in this business...

I rest my case here...no matter what anybody says here from now on..all i'm interested is in making money and i'll keep to that and not some chiding from an overgrown adult...lol...
  • #912
  • Aug 31, 2010 2:57am Aug 31, 2010 2:57am
Go away child you bother me!

You are spoiling a good thread for your own self indulgent ignorance.

John

which pair AUD and ?

I haven't got a 3rd hit on AJ or AU?
  • #913
  • Aug 31, 2010 3:42am Aug 31, 2010 3:42am
Quoting bun888

2. If it does work for other pairs, do we need to make adjustments to the TP and SL set up?

Any advice or suggestions are welcomed.

bun
Hi bun888,

Have a look at David486 post (#413) maybe some of what you are looking for.

..........(here's how it will be ordered.
gy 50/50
ey 40/40
gc 40/40
uc 30/30
au 30/30
aj 30/30 ................

drxyber
  • #914
  • Aug 31, 2010 4:03am Aug 31, 2010 4:03am
Hi Dr Xyber,

Thanks for your reply. I admit I only read the first couple of pages so I missed this post. Thanks again.

Bun

Quoting Dr Xyber
Hi bun888,

Have a look at David486 post (#413) maybe some of what you are looking for.

..........(here's how it will be ordered.
gy 50/50
ey 40/40
gc 40/40
uc 30/30
au 30/30
aj 30/30 ................

drxyber
  • #915
  • Aug 31, 2010 4:17am Aug 31, 2010 4:17am
Quoting debono
Go away child you bother me!

You are spoiling a good thread for your own self indulgent ignorance.

John

which pair AUD and ?

I haven't got a 3rd hit on AJ or AU?
aud/usd
  • #916
  • Aug 31, 2010 5:05am Aug 31, 2010 5:05am
Quoting Ftafx
Possible short on audjpy?

Signal coming on 4hr tf...looking for entry on 1hr

My attention was brought to this and asked to confirm if this is a Trendline or not as the show of tantrums is getting some here confused as to who is right and if the line drawn is indeed a correct Trendline or just an Horizontal line.

Well let me say categorically that i feel highly over rated to be called upon to put a stamp of authority on this issue, would have preffered my seniors in the business to do that.

There are 2 charts in this referred post by Ftafx [your user id bothers me]. The first chart by own understanding of a TL shows indeed a true and correct TL going by the simple characteristics or definition of a TL [we have a complete wave cycle of ABCD and the TL drawn clearly joined the A and C points.].

The 2nd chart however, is what i think is causing this show of gladiators [forgive my sense of humour if it offends you]. Going by the appearance on the chart posted, it would appear not to be a TL. But i think what Ftafx did was to show the 4hr TL on the 1hr time frame [i have a similar thing on my charts too] and then did not show on the thread, the origin of the TL as appeared on the 1hr tf.

I would want to conclude that Ftafx traded this signal my own way and not exactly as Dave does, so i take the blame for the confusion here. I will get in touch with Dave and seek his permission to remove my posts so we can have a uniform way of trading here, afterall its his thread not mine.

I hope i've been able to put to rest this issue and i plead there should be no more exchange of unpleasant words. Let's not get this beautiful thread stained with such please.

Clean thread gives clean pips, and i love them pips.

Happy pipping to you all.
God's Love For You Is Sure Never You Doubt It
  • #917
  • Edited 7:03am Aug 31, 2010 5:37am | Edited 7:03am
Hello guys,

I'm new here. I have followed you step by step so far. I tried this method the first 3 trades. However, I lost them all.

I think the weakness point of this method is blind point at which the 3rd-bounce-candle break trendline instead of bouncing from the gradient.

Just one thing I want to put forward to us is how to avoid this trap, how to identify this point. I'm still working on this...

I made my trades as the pics below. I appreciate it very much if anyone can tell me what I did wrong.

By the way, thank you for all your shares, contributions to us Dave, D liberator and other mems.
Attached Image(s) (click to enlarge)
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All that we are is the result of what we have thought.Buddha
  • #918
  • Edited 7:03am Aug 31, 2010 6:31am | Edited 7:03am
Quoting orion86
Hello guys,

I'm new here. I have followed you step by step so far. I tried this method the first 3 trades. However, I lost them all.

I think the weakness point of this method is blind point at which the 3rd-bounce-candle break trendline instead of bouncing from the gradient.

Just one thing I want to put forward to us is how to avoid this trap, how to identify this point. I'm still working on this...

I made my trades as the pics below. I appreciate it very much if anyone can tell me what I did wrong.

By the way, thank you for all your shares,...
Please forgive me to answer this question myself.

I think we need to turn back to smallers timeframes so that we can enter the trade more precise.

Was I wrong friends?
All that we are is the result of what we have thought.Buddha
  • #919
  • Aug 31, 2010 6:45am Aug 31, 2010 6:45am
Quoting orion86
Here guys,

I'm new here. I have followed you step by step so far. I tried this method the first 3 trades. However, I lost them all.

I think the weakness point of this method is blind point at which the 3rd-bounce-candle break trendline instead of bouncing from the gradient.

Just one thing I want to put forward to us is how to avoid this trap, how to identify this point. I'm still working on this...

I made my trades as the pics below. I appreciate it very much if anyone can tell me what I did wrong.

By the way, thank you for all...
press ctrl-y so it shows a new week. trades arent generally taken from a previous week especially for gbp/jpy. this was mentioned earlier on in the thread from what i rememebr. the gbp/jpy trade was a success last week. this week the trend is bearish and the reason why there are no trades is because of the sudden drop/ bearishness in the trend. These trades are usually taken with a more modest trend(where at least you can draw the line and have the 2 legs form)
  • #920
  • Edited 7:25am Aug 31, 2010 6:54am | Edited 7:25am
Quoting john19r
press ctrl-y so it shows a new week. trades arent generally taken from a previous week especially for gbp/jpy. this was mentioned earlier on in the thread from what i rememebr. the gbp/jpy trade was a success last week. this week the trend is bearish and the reason why there are no trades is because of the sudden drop/ bearishness in the trend. These trades are usually taken with a more modest trend(where at least you can draw the line and have the 2 legs form)
Thank you very much john19r !

I'm not sure about this too.

By the way, could you help me about Dave's NN? Why I did click ok but it always showed only USDJPY like this? Of course, I have checked it for almost 3 days long.

Thank you john19r, thank you !
Attached Image (click to enlarge)
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All that we are is the result of what we have thought.Buddha
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