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Trendline Scalping 4hr timeframe

  • #961
  • Sep 2, 2010 8:36am Sep 2, 2010 8:36am
Quoting david486
in this eur/jpy trade. entered @ 108.24 via nnautoexecute didnt tighten rules hopfully the us news doesnt affect this one.
anyone else in?
In also.....closed with 27 pips. Entered at 108.26 manual entry.

Dejan
  • #962
  • Sep 2, 2010 8:41am Sep 2, 2010 8:41am
I'm in with a manual entry at about 108.20

GG
Now trading live
  • #963
  • Sep 2, 2010 10:01am Sep 2, 2010 10:01am
I just wanna throw something out there for discussion. When I draw a trendline I try not to look for the second point to soon, give the market time to move around.

Also, I try not to draw them off of consolidation areas. Price pivots are better (not pivot points), this is an area where price was rejected and turned around, which is NOT consolidation.

What I do to train myself is to go back and draw trendlines where price did break out, and see how the lines connected to price. This also gives me an idea if the pait actually respects trendlines. The one thing you cant do is determine if the price moved from news or if it was just pending orders sitting around.

I saw another comment in this thread saying that the trendlines was too steep (a comment on someones chart) and I have also noticed that. Problem here is when you go to lower timeframes and zoom in, the line isn't steep anymore. To solve this I draw my lines on 4 hour charts and above. Then I zoom in to snap the line to price.

This is how I look at angled lines, horixzontal lines are different in that they are more bases on levels. The wmd thread talks about this (and there is a PDF in the thread you cant grab to read it without the noise).

My major killer is overtrading - I look for trends on too small of timeframes to force a trade. I keep tell myself to stay away after the trade loses, but then it happens again. Maybe I'll print my guidlines and post them on my monitor. The good news is that I'm still making pips, I just have to get rid of the bad trades.

Does anyone else approach trenlines like this?

Suggestion: Post trades that worked, post trades that didn't work - compare, gain insight. I think everyone can learn from this (don't get me wrong, I'm no pro, I just think we can all learn from seeing closed trades)

The EA I use to tade trendlines does a screen capture when the trade closes, makes it easy to look at all trades.

Tipster
Tipster Trendlines - Trade from the chart
  • #964
  • Sep 2, 2010 2:48pm Sep 2, 2010 2:48pm
Quoting Tipster
....... This is how I look at angled lines, horixzontal lines are different in that they are more bases on levels. The wmd thread talks about this (and there is a PDF in the thread you cant grab to read it without the noise).

Tipster
Interesting thots Tipster. What WMD thread are u referencing? Could u either post the link or the name of the thread. There is no PDF on his "Trading with Deadly Accuracy Thread."

Thx
Low Risk Low Stress High Reward High Probability Trades
  • #965
  • Sep 2, 2010 6:21pm Sep 2, 2010 6:21pm
guys well done on the eur/jpy for those that entered. a nice 40+ pips for me.
stilkl waiting on the free sms' api which i wil plug into the nnclient. only problem is it will have adds in the text(because its free) everyone cool with this?
  • #966
  • Sep 2, 2010 6:32pm Sep 2, 2010 6:32pm
Quoting david486
guys well done on the eur/jpy for those that entered. a nice 40+ pips for me.
stilkl waiting on the free sms' api which i wil plug into the nnclient. only problem is it will have adds in the text(because its free) everyone cool with this?
I managed 30. 'twas pleasant.

  • #967
  • Sep 2, 2010 10:17pm Sep 2, 2010 10:17pm
Quoting david486
guys well done on the eur/jpy for those that entered. a nice 40+ pips for me.
stilkl waiting on the free sms' api which i wil plug into the nnclient. only problem is it will have adds in the text(because its free) everyone cool with this?

sounds good a little shopping with our forex....got to spend the money somewhere....
  • #968
  • Sep 2, 2010 10:41pm Sep 2, 2010 10:41pm
Quoting 919gilead
Interesting thots Tipster. What WMD thread are u referencing? Could u either post the link or the name of the thread. There is no PDF on his "Trading with Deadly Accuracy Thread."

Thx

Sorry, man. Check it out.....

When you open the attachments window, you need to changed through pages, top left. Here are some links for y'all


PDF 1

PDF 2

Sam Seiden odds enhancer - a checklist for trading
This guy is a trainer at Online Academy, they send out free news laetts that are good reading on supply and demand. If your sick of indicators, sign up.

In my opinion, indicators are great for EA's (how else would a computer know whats going on...) but for manual trading, trendlines work, not all the time but they make me pips and thats why I'm here.

I remember a few years ago spending so much time coding, I forgot to watch the screen and learn price action. My eyes opened when I zoomed into a potential horizontal line breakout and watch the 1 minute struggle to break it. You can see it let go. It looks like a guy running for a bus with his buddies holding him back, he fights them off after a while and BAM - price goes out of the range like a mini news release. Anyways, I still suck at it, making pips but also making lots of mistakes, luckily the math of risk management helps.

I'm rambling - g'night.

Tipster
Tipster Trendlines - Trade from the chart
  • #969
  • Sep 2, 2010 11:24pm Sep 2, 2010 11:24pm
Quoting SteveHopwood
I managed 30. 'twas pleasant.

nice work steve!

hey guys i need to know who is interested in sms alerts. i found a site which will let me send them for free(but with adds) who is interested and am i allowed to post the link to the site on this forum?
  • #970
  • Sep 3, 2010 12:05am Sep 3, 2010 12:05am
Sms would be good for me David.

I'm in the UK.

cheers

Grant
  • #971
  • Sep 3, 2010 1:07am Sep 3, 2010 1:07am
Quoting david486
nice work steve!

hey guys i need to know who is interested in sms alerts. i found a site which will let me send them for free(but with adds) who is interested and am i allowed to post the link to the site on this forum?

hello david, yes plz
  • #972
  • Sep 3, 2010 2:09am Sep 3, 2010 2:09am
Quoting david486
nice work steve!

hey guys i need to know who is interested in sms alerts. i found a site which will let me send them for free(but with adds) who is interested and am i allowed to post the link to the site on this forum?
This sounds great David, please add me as well.
What you do is a reflection of you....what I do is a reflection of me.
  • #973
  • Sep 3, 2010 3:04am Sep 3, 2010 3:04am
Count me in David
Low Risk Low Stress High Reward High Probability Trades
  • #974
  • Sep 3, 2010 3:09am Sep 3, 2010 3:09am
Will spend the rest of the week end reading thru, and trusting to make this month

Thx again buddy
Low Risk Low Stress High Reward High Probability Trades
  • #975
  • Sep 3, 2010 3:36am Sep 3, 2010 3:36am
Quoting david486
nice work steve!

hey guys i need to know who is interested in sms alerts. i found a site which will let me send them for free(but with adds) who is interested and am i allowed to post the link to the site on this forum?
Please count me in Dave !

I appreciate your help to us very much !

All that we are is the result of what we have thought.Buddha
  • #976
  • Sep 3, 2010 4:45am Sep 3, 2010 4:45am
Count me in as well.

Thanks.
  • #977
  • Sep 3, 2010 5:31am Sep 3, 2010 5:31am
Quoting orion86
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?
I gave an answer to this earlier on somewhere in the thread...you are right.

Will soon be deleting some of my posts here..[still figuring out how to do that] so as to allow a uniform way of trading here...personally dont like when a trader starts a thread, some traders come on board and change the thread's style of trading...causing more confusion..so i shouldnt be doing that...this resulted in exchange of unpleasant words btw traders here [both the child and the one who shld be an adult trader...lol].

Ftafx [contacted me and happens to be a former [graduated] student of mine...thats why the use of his id.....fta..[Forex Traders' Academy]... i really apologise for his unruly behaviour even though he was mis-understood, still no excuse for his unruly behaviour....

I hope you guys keep on pipping....i love them pips...lol
God's Love For You Is Sure Never You Doubt It
  • #978
  • Sep 3, 2010 7:10am Sep 3, 2010 7:10am
Quoting D liberators
I gave an answer to this earlier on somewhere in the thread...you are right.

Will soon be deleting some of my posts here..[still figuring out how to do that] so as to allow a uniform way of trading here...personally dont like when a trader starts a thread, some traders come on board and change the thread's style of trading...causing more confusion..so i shouldnt be doing that...this resulted in exchange of unpleasant words btw traders here [both the child and the one who shld be an adult trader...lol].

Ftafx [contacted me and happens to be a...
It's okay D. It was just some moments of straying around. But all of that was because of pips. Everyone likes pip. I think nobody blames you.

Thank you for your share and Dave's to us so far.
All that we are is the result of what we have thought.Buddha
  • #979
  • Sep 3, 2010 10:14am Sep 3, 2010 10:14am
I have read this entire thread and find it fascinating. The simplicity is refreshing (and I think very rewarding). I have entered several trades on demo and all have been successful. This is the latest...did anyone else enter this trade?
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  • #980
  • Sep 3, 2010 10:45am Sep 3, 2010 10:45am
Quoting david486
nice work steve!

hey guys i need to know who is interested in sms alerts. i found a site which will let me send them for free(but with adds) who is interested and am i allowed to post the link to the site on this forum?

Count me in!
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