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Trendline Scalping 4hr timeframe

  • #1,361
  • Sep 28, 2010 12:21am Sep 28, 2010 12:21am
Quoting david486
how did everyone go with that one.. very long trade.. out +40
I was out at +47 but manually traded.
  • #1,362
  • Sep 28, 2010 1:33am Sep 28, 2010 1:33am
hello david, i got 46 thx
  • #1,363
  • Sep 28, 2010 3:47am Sep 28, 2010 3:47am
Quoting driftwood
hello david, i got 46 thx
excellent work guys!!

still early week so lets see what other trades the market brings us
  • #1,364
  • Sep 28, 2010 4:04am Sep 28, 2010 4:04am
Quoting david486
excellent work guys!!

still early week so lets see what other trades the market brings us

+50pips for me.. wooop wooop!! my first million $ lot!
  • #1,365
  • Sep 28, 2010 5:34am Sep 28, 2010 5:34am
It would be nice if people posted charts instead of this "I'm in at xxxc, out with xxpips" stuff.

Just saying...
  • #1,366
  • Sep 28, 2010 5:52am Sep 28, 2010 5:52am
Hi Guys, can anyone help me with this. I run the NN (current) If I need it to autotrade, what I need to do? To click on the box or click the setup? Sorry, I try to read the readme file but somehow I am confuse. Thank You in advance.
  • #1,367
  • Sep 28, 2010 6:37am Sep 28, 2010 6:37am
Hi David,

I hit S/L 133.820 whereby the Hight of the time being stop out is 133.750 (13:00). It's 7pips away. Is FXDD have such huge spread for GY? This is normal or abnormal?
After get stop out the price is all the way down as now is 132.440 while am typing this!!!!!

Lucky it's just demo.
Attached Image
  • #1,368
  • Sep 28, 2010 1:17pm Sep 28, 2010 1:17pm
Hi guys!
I am a bit lost regarding the last GBPJPY trade that david and other members took two days ago.
In the chart I am attaching, I tried to find that trade (I marked the 133.36, the price at which david mentioned he went in the trade). I also put two other questions in the graph.

Thanks!
Attached Image (click to enlarge)
Click to Enlarge Name: Untitled.png Size: 100 KB
  • #1,369
  • Sep 28, 2010 3:26pm Sep 28, 2010 3:26pm
Quoting calderone
It would be nice if people posted charts instead of this "I'm in at xxxc, out with xxpips" stuff.

Just saying...
lol it would be nice if people could actually read the thread and learn how to draw the trends themselves.
  • #1,370
  • Sep 28, 2010 4:52pm Sep 28, 2010 4:52pm
Hi, I have downloaded the ForexDave nn and under trade type there is nothing. Is that how it should be?

Edit: Ignore my question I just clicked ok and see a successful trade.
  • #1,371
  • Sep 28, 2010 6:04pm Sep 28, 2010 6:04pm
Quoting jedlanca
Hi guys!
I am a bit lost regarding the last GBPJPY trade that david and other members took two days ago.
In the chart I am attaching, I tried to find that trade (I marked the 133.36, the price at which david mentioned he went in the trade). I also put two other questions in the graph.

Thanks!
Attachment
I don't think there is a pure perfect strategy for taking these trades. Some do better than others. When you trade the amplified pairs (anything ending with JPY), then the chances you get your 50 pips is more likely for a quick-in/out.

It just takes practice and an eye for price action showing trends. I prefer EURJPY and GBPJPY personally, but EURUSD and AUD has some great smooth trends for a lot of pips.

The first trade you show is a possibility, but it is a long ways out and the general trend for the last bit had changed. So.....

The 2nd trade looks right pretty much. The 3rd trade is a possibility, but you are kind of working against the trend, but it is in the shape of a bull flag (large one, too big in my opinion) or a wedge, which both are bullish.
We are our own best indicator.
  • #1,372
  • Sep 28, 2010 8:27pm Sep 28, 2010 8:27pm
new aud long check nn for details
  • #1,373
  • Sep 29, 2010 12:47am Sep 29, 2010 12:47am
Quoting bluemele
I don't think there is a pure perfect strategy for taking these trades....

Thanks for your observations! They remind me that in this strategy, as well as with most of the discretionary trading, we can not take all the trades "literally by the rules"; instead, we should look first the setups that fit our rules and, after that, use our common sense (adquired with experience) to know if the trade makes sense or not with what is happening with the chart.
  • #1,374
  • Sep 29, 2010 12:49am Sep 29, 2010 12:49am
Quoting AndreasF
David, please watch USDCAD on H4
3rd touch -would this be an entry you would take?

Thanks

Good call. Respect.
  • #1,375
  • Sep 29, 2010 1:10am Sep 29, 2010 1:10am
Quoting david486
new aud long check nn for details
hello david, ej set up to?
  • #1,376
  • Sep 29, 2010 1:24am Sep 29, 2010 1:24am
potential gbp trade coming up depends on the close of this candle will know in 30 mins
  • #1,377
  • Sep 29, 2010 1:46am Sep 29, 2010 1:46am
Quoting david486
Excellent work buddy! thats pretty much all there is to it. very successful method of trading applied to all pairs and all timeframes(i have had best success with 4hr)... its also a part of my neural-net which has added to my success..

sorry david, iam new.

is your method still working and profitable ? where can i get the latest updates on it from ?


also, is your method not the same thing as the 3 touch trendline bounce theory ? i.e. if it touches the trend line 3 times then that confirms the trend ?

on the first page your first post , you attached 2 screen shots. the first one is a buy, you bought after the price touched the trend line 3 times and bounced. however, was it not too late to enter a buy trade then as the up trend was too far and on its way to loosing steam ? and indeed shortly after it came down sharply.


regards
  • #1,378
  • Sep 29, 2010 1:51am Sep 29, 2010 1:51am
Quoting david486
potential gbp trade coming up depends on the close of this candle will know in 30 mins

can you please post charts with where / when you would enter and why ?

thankjs
  • #1,379
  • Sep 29, 2010 1:58am Sep 29, 2010 1:58am
new gy trade is up, nn updated.
  • #1,380
  • Sep 29, 2010 2:03am Sep 29, 2010 2:03am
Quoting david486
new gy trade is up, nn updated.

is it a buy or a sell on the gbp / jpy ?


as far as i can see, on the downside there has been 2 touches - so not a short yet.

on the upside there are 3 touches, so we go for a buy right ?


regards
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