EURJPY in the daily charts looks like it can go either way?..range seemed to be getting smaller.
Phil,
thanks for all the info in the e book. Have you started the trading room yet? Aslo the 2nd e book? I have read all the posts and did not find a link for it?
thanks
Hi Phil,
I was wondering where you obtain your Volume info from - do you purchase a feed? Having an account with FXPro (on demo), the volume given is limited, being only generated from their userbase. Thanks and have a good Sunday!
Hi pipal28,
While I was working on the trading room and 2nd ebook I was in a car accident and everything got interrupted.
Now that I gotten back on my feet I’m still working on everything little-by-little, but to be honest I’ve got more projects than I can handle. I finished a 75 page book that covers everything my first ebook covered, plus the extra information the second book would have covered, but I’m still not done with the screenshots.
Right now I’m focusing most of my energy on finding something to replace the the NickB method, which stopped working a few months ago and used to make up 75% of my income. 
Phil.
I dont think there was anything wrong with your original method of channels, support and resistance and candle sticks it works fine.
Dont forget statistically the worst trading months are the holiday months just gone.
Regards
N
Hi Coolpixel,
Volume in the forex market is not based on how many transactions were made or how much money is traded. It’s based on how many price “ticks” happened in a given time period. The numbers may be different from broker to broker (because some brokers update more often), but the ratios will be nearly identical.
For example, if price is at 1.5000, moves up to 1.5001, and then back down to 1.5000 then that’s a volume of 2, since price moved a total of 2 pips (1 up and 1 down).
Any brokers volume feed is fine to use. Just remember not to compare numbers between brokers, just ratios. If today’s volume is twice as high as yesterday’s volume it will be that way on every broker, the numbers will just be different.
For example, IBFX may say the volume is 1000 today and 500 yesterday, while Alpari may say 2000 today and 1000 yesterday. Alpari’s price feed updates twice as often as IBFX, so the numbers are greater, but today’s volume is still twice yesterday’s volume.
I agree! This method works just fine. 
I was referring to a separate strategy, the NickB Method, as the one that stopped working.
Up until recently most of the trades I took have been using the NickB method. It’s advantage has always been that you can see the trades coming (and set up pending orders) days or week in advance.
The weakness of my method is that you only see the trades a few hours before they happen.
I’m still trading this method just fine, although the profits have gone down in this ranging market. I’m getting about 1 trade per week with little more than a 1:1 ratio of profit.
Ok, thanks for clearing that up Phil! And I hope that indeed it was only the holiday period that messed up yours (and many others’ I imagine) income regarding NickB. I downloaded, printed and read the book myself not long ago, was going to let things sink in, then study again - so it seems no method is forever…
When the markets start trending I’ll start trading scalp lines again, but I’ll do my SL and TP differently. I’m still working out the details.
It looks like GBP/JPY is already getting back to normal, but I want to give it a while longer to make sure.
Hi Phil.
What do you think about this setup ? ( maybe you are already in ). Was it good enough test S\R area ?
Cheers.
Absolutely. It’s a long wicked candle that bounced directly of an S+R zone and a trendline. That’s a 100% perfect, textbook setup!
I didn’t get in on it because I’m already in a trade (based on Daily charts) on that pair, but I hope you got in on it. If so you should already be up 150-200 pips!
Hi Phil, I am new to this thread. I have downloaded and read your ebook and it is great, simple to understand stuff. Keep up the good work and I am looking forward to volume 2.
Hi Kodziro, Are you using the 4hr chart? What is the arrow indicator you are using?
Hi.
Yes 4h chart, like in Phil`s ebook. Indicator ( Super Signal v3d) had nothing to do with this strategy.
I see what looks like bolinger bands, are you using those? I don’t see trend lines do you use them?
hi Phil, thanks for the thread and the ebook. i would love to read the sequel as well.
does anyone use murrey maths line to get support/resistance lines? it seems they are always fit. this is a GJ chart.
Hi Bestp, I just downloaded the Murray Math Line X indicator. Do you need to change the MM Period parameter to 240 to use on the 4hr chart:confused:
hi winalot2, sorry that i have never used it to trade demo or real, was just curious if anyone has used it, cos it looks in line with S/R’s. I think probably draw the S/R zones, maybe check with MM lines, might add a little more confirmation? not sure.
I did not change any settings.