NickB's 4H Scalping Method
I've noticed that a lot of people here on Babypips lately are interested in the NickB method. Nick was a Babypips blogger last year, but his method never caught on and his blog died out...
I think part of the problem is that even though Nick's strategy is floating around Babypips, it's in the form of a 42 page .pdf document that no one wants to read!! So here, in one page or less, I'm going to explain the most popular aspect of NickB's trading system, the 4 Hour Scalping Method.
I've been trading this system live for almost a year now, and I've done very well with it. I have a 70% win rate on these trades so I think it's time to get more Babypippers trading this way!!
The setup for the trades is simple...
Pair: GBP/JPY
Timeframe: 4 hour
Indicators: NONE!!
What we want to do first is to find recent swing highs and swing lows where the price has hit and made a significant reversal. Here are some examples.
At each of the orange lines price changed direction and moved, over many 4 hour candles, hundreds of pips away. These orange lines are called scalp lines.
So what do we do with these scalp lines?? You trade them! When the price returns to a scalp line you simply place a trade on the break of the line using a 50 pip stoploss and a 50 pip takeprofit. That's all there is to it!
Here is an example of a scalp line break:
Not only are these trades easy to find, they can be taken with pending orders! So if you work full-time this is a great method to use!
If anyone has any questions or comments feel free to post them. And, just to be clear, this is not my system. It was developed by Nick Bencino, aka NickB.
EDIT: Here's a copy of Nick's ebook that describes his entire system.
I think part of the problem is that even though Nick's strategy is floating around Babypips, it's in the form of a 42 page .pdf document that no one wants to read!!
I think if people aren't willing to do any work how can they be successfull?
Also I think people want more than 100 pips a week, but if you look at it 100 pips is more than enough to be a success at forex. Also look at signal services that charge you monthly basically nobody consistantly earns more than 400 pips a month.
Bottom line is Nicks method works, its simple and its profitable. I think anyone who isnt profitable right now should consider looking at his method more closely.
thanks, john
Quote Originally Posted by phil838 View Post
I think part of the problem is that even though Nick's strategy is floating around Babypips, it's in the form of a 42 page .pdf document that no one wants to read!! So here, in one page or less, I'm going to explain the most popular aspect of NickB's trading system, the 4 Hour Scalping Method.
Something I totally agree with you about Phil. I am surprised Nicks method doesnt have more followers. Interested that you have a 70% win rate. Do you stick to the 1R return per trade or try to let it go.
Quote Originally Posted by tonymand View Post
Something I totally agree with you about Phil. I am surprised Nicks method doesnt have more followers. Interested that you have a 70% win rate. Do you stick to the 1R return per trade or try to let it go.
If price is moving fast I'll let it go a little, I get and extra 10-30 pips quite often, and more on occasion.
hey guys nick is going to be hosting another 5 day forex blitz and if you missed the last one you owe it to yourself to sign up. It is 100% free and very educational. there will be webinars, videos, articles and again 100% free.
I get crap offers in my email all the time to join this course or that course blah blah blah. Im telling you throw all that crap away and see what profitable trading looks like. your gonna be suprised at how simple it can be!!!
5 Day Forex Blitz!