What made you get in at 140.63? On my charts the line was at 160.45. I added 5 pips to over the spread and 5 more for a buffer and I got in at 160.55.
Just wondering. 
Ya, sorry typo on the last post. Like I said, just got up.
yeah it is looking good if your still in it
Then you are not trading a 1:1 risk reward method, more like 0.8:1. In other words you would need about 55% winning trades just to break even. As long as you understand that this is what you are doing then so be it
Looks like yours turned out to be a winner!!
It just retraced a little too much for the rest of usā¦
I agree. Iād suggest your SL and TP levels always take the spread into account, or itās going to cut into your profits in the long run
Just got my +50 pips. As soon as I could I put my SL +50.
I think it will probably hit +100, but since itās a scalp line Iāll take my fifty and be happy. Iām done riding, āthe beast,ā today, lol.
(O noes look at my post count! ā¦burn the witch!)
Right on pheonix glad it worked out for you. As far as my SL TP, I didnt want to set TP above 161.00, but still wanted to keep a distance of 50 on my SL to give it room.
The thing Iām finding about nickbās method is that the TP and SL arenāt set it and forget it.
My trades have worked better by just setting alarms by where I would put my SLās were I away from the computer, and when it reaches them decide to stop out based on price action.
This trade went -60 ish against me first. Based on what I saw on the charts I believed it would go back up.
That is how nickB deals with stop hunting, he doesnāt place them unless heās away from the computer. He doesnāt place TPās either. He feels thatās showing your hand to the broker. Just like they might stop hunt, they might make price look like itās having a hard time hitting your TP. At least thatās what I got from reading his stuff.
Iāve been putting a TP with no problem myself. Itās easier than having to wait for the price to clear x pips from your target before you can lock it in as a SL.
I like moving SL postive though when I can, sometimes you can catch a nice move past your initial TP.
The GBP/JPY makes big moves, so a small stop loss, or even a stop loss placed badly is going to stop you out.
I tried a trend following system that was working well for me on another pair on GBP/JPY and got slaughtered.
The point of the line break trades is to HOPEFULLY catch momentum and not even worry about a retrace.
I think three of my nickb trades were like that so far. Just entry, a slight wiggle and +50 in a few minutes. Those can get you in trouble though. Too many of them and you start to think all trades work like that and tradings always a breeze, then youāll start stopping yourself out at every little drawdown.
I agree with you on that pheonix, they arent set it or forget it, but after I saw some retrace, I thought hmm, this is a pretty nice line I donāt want to pull out yet, as ive seen alot of lines retrace 20 30 even more pips before turning around and making a nice profit, what I did do was make a decision to let this one just ride, I saw a nice uptrend for the day, so was feeling pretty good about this one, I now think the news was a factor to why it retraced why it did. If you scroll down abit you can see I explained to another member that I like to also watch the price action. Sometimes I will set it and let it ride sometimes I wont. Sometimes I will place a 50 SL and a 50TP from bid, sometimes I may set them differently.
Excellent point. I use the āset it and forget itā method with these trades and get a 70% win rate. Nick, just like Phoenix, tweaks his trades as he goes and he gets an 80% rate. I think itās fairly safe to say thatās where the extra 10% comes from. I do move my TP higher if prices are climbing fast, and I happen to be at my computer, but I never move my stoploss.
Personally itās worth that 10% reduction for me not to have to worry and stress over the trades, and not to have alarms wake me up at night :), but thatās just my way of doing it.
ThePhoenix will probably come out ahead of me in the long-term, but either way you manage these trades youāll be profitable.
You guys must have had a big stop loss to profit off that move. My charts showing an 84 pip drawdown in the trade. Too rich for my blood 
If you want to go with a bigger stop loss just reduce your position size, Pizal. You could have a 1000 pip stoploss only be a dollar or two if you were trading fractions of a micro lot.
Thatās true but I meant more about the risk being high for this system.
I am very new to this system but I thought I read that TP and SL should be around 50 each.
Looks like Nick wants us to use discretion on both sides but 84 was to much for me to sweat out today especially with me limiting my upside target because every new high is a new yearly high
They should. Some people, like me, always have a SL of 50. Other people like to vary the amount based on price action. Neither way is āwrong,ā theyāre just different.
This isnāt a system with set-in-stone rules. 
Any chance of playing a reversal around 159.72?
I was thinking the exact same thing two hours ago, but I donāt like the way the price action is going now so Iām going to sit it out.
But my analysis hasnāt been too keen this week, so naturally this will end up being a good tradeā¦
Lol, youāre probably right. I think Iāll put in an order for pennies per pip just to say I was in.
Thanks for the info so far. I think this is the first time Iāve posted in this thread, but Iāve been here the whole time. Just didnāt have a valuable contribution.
Did anyone else sign up for the Blitz at Forex4Noobs.com? I thought it was suppose to be this week? I havenāt seen or heard a thing. I get e-mails when NickB writes a new blog post, but thatās it.
I believe itās next month, starting on the 6th.