Reassessing The NickB Method

Hey Guys,

While I stand by my decision not to trade I can understand why most people would have entered. I think there comes a point when a trading method needs to be reassessed. When your win rate starts to fall significantly you need to take a step back and take a look at what’s wrong with your method.

Personally my win rate hasn’t dropped but I trade my method a little differently these days. At the moment I am happy to take a single trade every two or even three weeks. So I only target very high probability trades and avoid trades like the one we had today.

I realize though that most of you would have taken the trade, so officially I have to say that trade was a loss.

Anyway, I took a step back and took a logical look at my trading method. I tried to spot what was wrong. I realized a few things:

1) I am not properly trading my method. I am trading what is for the most part a variation of my method I crated to trade the erratic market conditions we had earlier this year.

2) I am not subjecting my scalp lines to as much scrutiny as I would usually do. I am leaving them on for longer than 3 weeks. Usually if a line doesn’t break within 3 weeks I remove it but I have lines on that are months old.

3) I am not trading S+R lines (only scalp lines) even though there are valid S+R lines on my chart at the moment.

To sum it up I am traded a mutated version of the NickB method that was created to trade the crazy market conditions we experienced in late 2008 to early 2009. The market has calmed down now so there is no reason to keep trading the way I was in crazy markets. What I need to do is take the NickB method back to its original form. I am starting by trading S+R lines again. Later today I will throw up a chart with all my S+R lines.

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20 thoughts on “Reassessing The NickB Method
  1. Hi Nick,

    Everyone here should accept that you don’t have to do this and could quite happily be doing your own thing. It’s pathetic that you have to put up with so much griping from people. You are an honest person with great integrity and I appreciate that. I am trying to learn how you make your trade decisions and you are allowing me to do that so I appreciate it.

    I look forward to moving forward and learning with you.

    Thanks again,
    fboy

  2. Thanks Nick. Your past record speaks for itself. Although I enjoy your videos, your written post with charts are good and hopefully save you some time. Keep it up.

  3. Hi Nick,

    IT’S ALL GOOD I THANK YOU FOR GIVING THE TRADE CALLS. YOUR METHOD IS GOOD, I MAKE PIPS FROM YOUR CALLS. KEEP UP THE GREAT WORK YOUR A FREIND OF A FREIND.

    THANKS
    SABBIE

  4. Thanks for everything Nick, You keep us updated all the time and about your method it has worked great for me.

    Learned a lot and still learning.

    Thanks again

  5. Your method is ok with me Nick B, I have made some great trades over the course of 2 or 3 months prior to this morning. Your still the “MAN” in my book.

  6. Yeah Nick, don’t worry man, I completely understand you and people are free when making trading decisions or following someone else trading method.

    Keep up the good work you are doing by teaching to a lot of people what you know about the market and how you trade.
    It is very much appreciated!

    Cheers,
    MiG

  7. Nick, your integrity is simply unbeatable,many thanks for you sacrifices and contributions.
    Cheers,
    Ade.

  8. Nick,

    You are doing a great job! I know it must be aggravating at times to put up with all of us! Thanks so much for all you do. Your method is the best, and I look forward to the revisions / upddate. Thanks again.

  9. Looking forward for the chart Nick. I have learned a lot from you in the past year and I will keep learning, so keep up the good work. WE LOVE YA” MAN!!

  10. Nick,

    The way I see it is if all they can do is complain then they will move on to another place and start complaining there. Thanks for your hard work Nick. Trading is like boxing… some time your gonna get punched out. Suck it up, get off the mat and get back into the fight. Big E

  11. Dude its good to see you updateing regularly. when I first swung around like 7 months ago you were in and out. But now I’m seeing a lot more consistancy in your updates, so I’ll begin to follow the blog a lot more regularly.

    Looking forward to the S+R trades too, thanls brother

  12. Hi, all
    I am new to Forex as well as new to this forum.
    I’ve learnt a lot from Nick’s trading lessons.
    Very good web site, Nick
    thx a lot