4xpipcounter's trendlines

[VJAY]

Re: Nugget #1

Mr 4x, Read it & liked it though i need few more revision as i am a man of average intelligence plus 60 yrs plus (retired). No doubt simple but comprehensible easily. I read all your threads but keep myself to pressing "thanks" button. Daily i go through TJ threads to grasp & retain something. Keenly i read posts related to F&O as i do day trade. Dont know will it be able to use your TL. Reason i use PIB (Power India Bulls) platform which does not provide previous data. I am regular trader 9 am to 3:30 pm but mainly with MNF & Options only with 1-2 lots & never more than that. Lost a lot but learned to earn regularly as a result for the last 10 sessions daily net gain is Rs 500 to 2500. I am happy & confident. But if possible please guide me where from i can use charts which will help me to draw TL & benefit from your EXCELLENT write ups. I am a voracious learner of TA. My sessions starts from 5:30 AM till 10:00 PM. Kindly pardon me if i had over exposed myself to use space of this great forum which is must read for me daily.

Thanks again. God Bless YOU & Happy Trade

Dear sibumajumadarji,
You asked it to paul(4x) though am giving my openion....you can use any charting s/w like amibroker or metatrader with any datavendor...hence you are with PIB then you can use thier data to ami...I don't use it but many using it in TJ ...you can find threads regarding this in amibroker or data section....

 

[4xpipcounter]

Re: Nugget #1

Sibumajumdar, thank-you for your kind words. It's been my desire to take something I love and have a passion for, and use it for the good for others, and it has been working out. This is why I wanted to start this thread, because trendlines is as easy as it gets.
BTW, I'm only 6 years behind you, as I am 54 with 14 grandchildren. I'm also kid of retired. If this is work, then I'm not. But, I am laying here on the hammock with an ice tea next to me and Tucker (in pic) in my lap.
This broker is advertised here at Traderji. They have a free demo account-- http://www.thinkforex.com/.
As far as daytrading is concerned, you can easily use the 4-hour chart to draw your TL's on. They even might last longer than 1 day, but the bottom line is you want to continue making money, and that's what this is all about.

Mr 4x, Read it & liked it though i need few more revision as i am a man of average intelligence plus 60 yrs plus (retired). No doubt simple but comprehensible easily. I read all your threads but keep myself to pressing "thanks" button. Daily i go through TJ threads to grasp & retain something. Keenly i read posts related to F&O as i do day trade. Dont know will it be able to use your TL. Reason i use PIB (Power India Bulls) platform which does not provide previous data. I am regular trader 9 am to 3:30 pm but mainly with MNF & Options only with 1-2 lots & never more than that. Lost a lot but learned to earn regularly as a result for the last 10 sessions daily net gain is Rs 500 to 2500. I am happy & confident. But if possible please guide me where from i can use charts which will help me to draw TL & benefit from your EXCELLENT write ups. I am a voracious learner of TA. My sessions starts from 5:30 AM till 10:00 PM. Kindly pardon me if i had over exposed myself to use space of this great forum which is must read for me daily.

Thanks again. God Bless YOU & Happy Trade

 

[4xpipcounter]

EUR/USD-live

Uploaded with ImageShack.us

Here's a TL setup live.
This is the 4-hour chart for the EUR/USD. This is my actual account I store everything concerning my methodology on, and it contains the 28 pairs I like to trade, so in this case the black lines are the 4-hour, and the blue are the daily.
The 4-hour TL is going to get broken on the bottom or the top, and that's for sure. As you can tell it is approaching an apex. If it breaks the downside, then I'll be bale to post the result later today. We'll get that strong break, and then the blue line should contain the fall initially, we get the bounce I told you about, and then we get another free fall through the blue line
I will post live occasionally just to show the concepts in real time.

 

[4xpipcounter]

Re: Nugget #1

VJAY, good point! This is the type of system where you could actually run a hard copy of any chart off the internet, then take a ruler and draw your TL.
One catch. As long as it shows enough data that show the recent dip or peak, and the swing high or low. But, really. That's all you need.

Dear sibumajumadarji,
You asked it to paul(4x) though am giving my openion....you can use any charting s/w like amibroker or metatrader with any datavendor...hence you are with PIB then you can use thier data to ami...I don't use it but many using it in TJ ...you can find threads regarding this in amibroker or data section....

 

[timepass]

Well, I'm no spring chicken either (I'm 47 going on to 90) and must masticate the cud for a long long time before I'm able to digest it, but this does not look very complicated.

Pips, why are you using 4 hr candles for nifty? I mean it may be ok for forex which is a 24 hr market, but for nifty what if we used EOD ?

 

[kvram]

dear 4x the above matter of sibuji nearly same with me (only age little -10 yrs),please bear with slow learners like me ,Iam watching live with gci demo but meta trader does nt have nse,I use pib.Thanking you for your guidance.

 

[Sunny1]

dear 4x the above matter of sibuji nearly same with me (only age little -10 yrs),please bear with slow learners like me ,Iam watching live with gci demo but meta trader does nt have nse,I use pib.Thanking you for your guidance.

Gci do have Nifty future ....

 

[sibumajumdar]

Re: Nugget #1

Dear sibumajumadarji,
You asked it to paul(4x) though am giving my openion....you can use any charting s/w like amibroker or metatrader with any datavendor...hence you are with PIB then you can use thier data to ami...I don't use it but many using it in TJ ...you can find threads regarding this in amibroker or data section....

Dear Vijay, Thanks for your suggestion. But i feel ami is tough for me to code & handle. Moreover, i wish to keep my trading system less complicated, simple & inexpensive. At present i feel comfortable to trade with PIB indicators as last 11 sessions gave me continuous profit for my capital of 20K. But Mr 4Px"s TL system will help me partially shift to Positional trading...anyway thanks again.

 

[4xpipcounter]

Timepass, in my trading generally speaking, I use all timeframes. When it comes to trendlines, the only timeframes worth looking at are 4-hour on up.

Now, let me put the ball in your court. Pull out the Nifty charts on the 4-hour, or any other market. Draw our TL's, and then see if they do not share the same characteristics as I have outlined. If you find it does not possess the same characteristics of what I am talking about, then could you post the chart here, and then we can talk about it.

BTW, at my age, my favorite age group is 75 and up. There still old enough to be my parents--lol.

Well, I'm no spring chicken either (I'm 47 going on to 90) and must masticate the cud for a long long time before I'm able to digest it, but this does not look very complicated.

Pips, why are you using 4 hr candles for nifty? I mean it may be ok for forex which is a 24 hr market, but for nifty what if we used EOD ?

 

[4xpipcounter]

Kvram, not a problem at all. Look at it as information. The thing I don't ask is to believe me. I do ask to take the information, apply it, then prove to yourself if it does or does not work. If it does not, that is when I'm interested in hearing about
Funny thing is, as this thread progresses, I know I'm also going to hear about it if it does work.
The irony is I love my personal S&R's, ichimoku ,SD channels etc, but they do not have the simplicity that drawing simple TL's the correct way does, and the high rate of success. Using TL's, it makes no one look too smart. After all, my 9-year grandson can spot opportunities with them. That is why I'm sharing them. I'm not too bright either. But I'll tell you, I can spot a peak, swing high, and then draw a line connecting them. Afterward, I wait for that line to be broken, wait for the correction, then bingo! Enter the trade, and scoop up the pips (maybe ticks in your case).
Keep posting if the simplicity does not click.

dear 4x the above matter of sibuji nearly same with me (only age little -10 yrs),please bear with slow learners like me ,Iam watching live with gci demo but meta trader does nt have nse,I use pib.Thanking you for your guidance.