NickB's 4H Scalping Method

[ThePhoenix]

Originally Posted by phil838

ThePhoenix,

How did you get rid of the new idiotic extra decimal point that IBFX added to their charts?? I noticed it wasn't in your picture.

That thing is driving me crazy!

I was expecting to see it when they announced that, but even though my platform has been updated, the extra decimals never popped up on it.

I couldn't tell you if it's some option I do or don't have checked. I'd just ask their live chat help, if i was you. They usually have the answers I need.

P.S. that is my live micro account. Maybe the fact that it's a micro account has something to do with the abscence of the new decimal places.

[phil838]

Originally Posted by ThePhoenix

If the current candle doesn't go much further long, and the 3 or more after it go short, would you consider 158.56 a good scalp line then?

I'm just trying to see where other nickbmethod traders are coming from, when they draw their lines.

Yes, if that happened I'd consider it a scalp line, but just barely. I also want to see good strong movement over time up to the line, not just back down from the line. This one has the minimum I would consider tradeable.

[phil838]

Originally Posted by Pukey

I don't have an extra decimal on my IBFX live account either. Is yours a practice account?

Yes, it's a demo. After what you and Phoenix said I'm guessing they just haven't put the extra digit on the live accounts yet.

Get ready for the fun when they do!! It's great having all your pips and ranges be 10 times too big!!

Anybody know of any MT4 demo accounts that are on GMT time, show Sunday data, and show the proper number of decimals.

I'm picky with my charts...

[ThePhoenix]

Phil, so at this time and based off this screen shot what I should I waiting for for line 155.67, to go short?

Or has that line already been used? And can't be used again?

[lavaman]

Originally Posted by ThePhoenix

Phil, so at this time and based off this screen shot what I should I waiting for for line 155.67, to go short?

Or has that line already been used? And can't be used again?

There was a "go long" line around 155.67, but that has already worked out. The next go short line I see on my chart is around 143.00. As I understand it, the "go long" scalp lines don't automatically become "go short" lines when they've been passed.

[johnnykanoo]

phil it might be in the pdf but im not sure. Can you tell me when is a scalp line no longer valid? I know s/r lines are valid basically forever but i am not sure about the scalp lines.

my best guess is once price has moved through it then thats it.

thanks, john

[phil838]

Originally Posted by ThePhoenix

Phil, so at this time and based off this screen shot what I should I waiting for for line 155.67, to go short?

Nothing.

155.67 will never be a valid scalp line. It was invalidated a few candles back when price dipped below it anyway, but before that it never had the upwards movement it needed to be a scalp line.

[phil838]

Originally Posted by johnnykanoo

phil it might be in the pdf but im not sure. Can you tell me when is a scalp line no longer valid? I know s/r lines are valid basically forever but i am not sure about the scalp lines.

my best guess is once price has moved through it then thats it.

thanks, john

Hi John,

Nick's rules from the ebook are 2 months for a strong scalp line, and 1 month for a weaker one. These are the same numbers I use.

Also, no matter how old it is once a line is used it's no longer valid.

[johnnykanoo]

thanks for clearing that up for me

[tymen1]

Originally Posted by lavaman

Your chart is at too high of a timeframe to show what really happened.
.....................

I understand what happened now.

The price action went the wrong way before it went the right way!!

The 4 hour timeframe does not reveal this.

I see that many posts have occurred since I last posted.