NickB's 4H Scalping Method

[SanMiguel]

Originally Posted by phil838

I don't think a V2 is really needed. It's true the method stopped working around June because of the ranging market conditions, but I'm confident that when the markets start trending again the system will work just as well as it used too.

I lost a good bit of money trading the NickB method in June-July (before I stopped trading it), but my losses were nowhere near as large as my gains during the previous years.

Do you think it's only to be used in trending markets?
Nick doesn't say that specifically though it might tie up with June and July.

[soul786]

Originally Posted by SanMiguel

Do you think it's only to be used in trending markets?
Nick doesn't say that specifically though it might tie up with June and July.

I beleive Nick's method relies on momentum, that's why the S/R lines and such are drawn off the 4H charts. Momentum in a sense is like the trend (unless I've been misreading things- still new :$) and thus going with the trend or waiting for that trend to reverse is how he trades.

[SanMiguel]

Anyone trading these again now that we have some momentum to the moves back in the market?

[soul786]

Originally Posted by SanMiguel

Anyone trading these again now that we have some momentum to the moves back in the market?

I've been following the charts with his methods but looking at multiple systems makes it harder for me to make a trade on every one.

I dont know if you know about it but, I do follow Nick's website and blog which has first hand trades that he makes with his system. There a live chatroom there too which I've joined when he was in doing some analysis so it's worth a look if you want to see what he's doing with it currently.

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[MattW2009]

Yes and no. I'm watching with interest but currently not trading for two reasons. Firstly I'm still waiting for Metalhawks data as I think there is a hidden profitable side to this but without full information I cant be sure, and secondly the system lends itself a lot better to being day traded and actively managed - something I'm currently not in a position to do.