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.
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.
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!! :mad:
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… 
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.
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 Can you tell me when is a scalp line no longer valid?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
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.
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Also, no matter how old it is once a line is used it’s no longer valid.
thanks for clearing that up for me 
I understand what happened now. :o
The price action went the wrong way before it went the right way!! :eek:
The 4 hour timeframe does not reveal this.
I see that many posts have occurred since I last posted.
Yes, I fully understand this.
I was only using a special tool to predict the future price action in anticipation of the next “scalp line”
OK, I guess that answers my question then.
It would be nice if you could work this system on other pairs/timeframes.
This would obviously give many more trading opportunities.
As it stands, the system appears to give too few trades to make a continuous income.
Am I correct here?
If this method works on the guppy, it will also works on other pairs, which is not as volatile as guppy. I had been using a similar method on the EURUSD and it yields great results.
To me, the most important part of NickB trading method is to evaluate will the SR lines be broken. Once a trader has drawn out the relevant SR lines for the whole week, all he needs to do is to evaluate the SR lines and determine will the SR lines be broken or supported/resisted. After that, the trader place the pending orders, stop loss and take profits. All these can be done on a weekend. Then the trader just need to spend at most 1hr, check on the SR lines and do a evaluation again during weekdays. NickB offers a perfect method for traders who are busy and can’t spend too much time on the screen. It also allows traders to interact at key levels(which Tess and co always teach here too) and teach traders how to long or short at the best price ever. All these alow a trader to trade and have a life at the same time.
Thanks phil. I took the trade and got my 50 pips last night, but now I wish I hadn’t since it wasn’t really a good trade and not really following nickB’s method.
I set entry right on the line. (Silly of me I should have gave it some sort of buffer past the line.) So, then price came to my entry then proceeded to go up and down for a couple of hours. At one point it went within 3 pips of my 70 pips SL. Watching the price action I was convinced that it was done going up and was going to go down past that line again.
I had my Tp set to +50. Got up this morning and lucky for me it hit it. Good thing I didn’t get greedy and set it for +100, it went +80 I think and then zoomed back up and blew past my SL.
+100 pips this week. Even though 1 trade was not really a nickb method trade, it was just me acting on what I thought would happen.
I’m done for the week. I’m off to read the e-book a few more times and go through the video course and try to stay awake, lol.
I don’t see it that way. Some of the method depends on watching price action at the line. For instance at a line break trade it might not even be taken if it looks like there is no momentum to carry it through. For a reversal, you actually have to wait for a reversal pattern to form.
While you can plan ahead, I don’t think it’s correct to say you can just place pending orders that far ahead. You might not get the right momentum or get a reversal pattern forming. Those are both things that have to be watched.
It’s funny, now I’m not afraid of the GBP/JPY anymore. Everytime someone mentions it, they call it volitile or the beast or something like that.
I tried the pair and got smacked around after coming from the GBP/USD. I wasn’t used to the larger spread and larger moves and didn’t have a method for it, which is why I’m learning the nickb method now.
After a couple of weeks of GBP/JPY on the 4 hour chart I don’t think it’s all that wild. I think the real beauty of it is that it makes such big moves, if you can get on the right end of a trade you can net more pips in less time and less trades than any of the others I’ve traded. I think that is the biggest reason NickB trades the pair.
Is it for very short term, jump in and jump out for +5 pips trader, no I don’t think so.
Heck, one of my recent trades could have been +300 if I had been there to move my SL progressively forward or reset my TP.
The input of Tess and Tonymand would be great on this thread.
Unfortunately Tess does not seem to be around any longer.
But Tonymand is!! (just up the road from me!! :D)
I think I will send him a PM.
GBPJPY is Zzzzbest!
I decided to try a scalp line trade on the EUR/JPY last night. I set up a SL of 50 and a TP of 80 pips. I knew I wouldn’t be in front of the computer during NFP at 8:30 AM EST this morning, so I set a limit to not put me in the trade if the spread went beyond 7 pips. I thought this would trigger me in the trade if it occurred overnight during the London session, but not if price shot up right at the news release. Well, low and behold, price shot up right at 8:30 and still put me in the trade (maybe Oanda’s spread doesn’t increase on non-US related pairs when US news comes out??? That, or price shot up right before the spread was increased). Anyhow, It hit my TP of 80 pips within about 3 minutes.
Easy, but lucky I suppose. I took 4 Nick B-style trades this week. A few were somewhat sloppy, and this one wasn’t even on the G/J. But 3 out of 4 were winners and I got 130 pips overall. Now to continue study…
This trade didn’t have that much of a retracement from the scalp line, but it was a yearly high, and that was a reason that Nick B took one of his trades this week that similarly didn’t have a very large retracement.
