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nanningbob Apr 8, 2011 10:32pm | Post# 1101

I was wondering what FX broker you use? Bob explains in a nice way he likes to use USA based brokers. The new rules, however, changes the trading styles.

Please let us know who you places your trades. I enjoy your post and the graphics.
I use IBFX mostly, mainly because I can use pennies for testing my theories. Can live trade my theories without committing a lot of funds. I wish I could find a reliable foreign broker I could trade pennies and hedge. I have a hedging strategy I think is ready for some live trading but I cant hedge with IBFX unless i use two accounts and transfer money back and forth. Kind of a yucky proposition on a lot of trades at once.

nanningbob Apr 8, 2011 10:36pm | Post# 1102

Bob,

First of all thank you so much for your hard work and effort on this site. I have traded for about 8 years with very little success. Then I ran across your threads. May I just say BRILLIANT! I did well with the 5.3 4-hour system but am now experiencing a 90% success rate with the NB 1.0 trend trading system. I spent 8 years studying charts...almost everyday..and for some reason it has just all come together with your 1-hour system. So, I thank you very much.

The question I have for you is in regards to your recovery method that I used with...
Your welcome, I seldom say thank you to all the positive comments because I dont want to clutter up the thread but once in a while I will. I appreciate all the support and comments and want everyone to know that.
If it wasnt for all the contributions and suggestions my systems would not exist. They are a compilation of ideas I have found that seem to work most of the time. And that my friends is what we want in forex, a chance to win most of the time and then control our losses to become successful.

nanningbob Apr 8, 2011 10:41pm | Post# 1103

I'm really liking the TMA indicator to pick you TP and SL. This isn't a NB 1.0 Trade, but have a look at this ranging market on EURCAD. It's been caught in this range for quite a few days.

Lets see how it pans out.
Nice looking safe trade, If you get a gap in your favor when the market opens take the profit because often the market retraces after the gap. I think this is because the banks do all their weekend exchanges by doing all the sells or buys first then run the others.

nonfiction Apr 11, 2011 12:44pm | Post# 1104

Yeah, I managed to get 30 pips out of that trade before the news. It caused an upward fakeout which suggested a strong downward pressure but gradually over time EUR crept back up before close on Friday.

I was happy to be out of the trade before all that happened. Since it was range bound, I took TP at light blue center line.

Just want to also say thanks again Bob for an amazing system. I have gone through TONES of systems and I don't think they get better than this to be honest.

Thanks Bob!!

Of course there is always your 4H counter trend system which seems very profitable by the looks of things. I don't think I have enough experience yet to stomach the money management on it just yet.

greglegrande Apr 11, 2011 12:54pm | Post# 1105

NB 1.0 Trade
 
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If there is one thing I'd like to see here on this thread is more examples of live trades. I'm sold on this system and I have a feeling others are as well. So, lets see 'em...both good and bad. Here's one that I think is a perfect setup. You'll notice that my chart has elements of Bob's 1.0 Trend Trading system as well as the sixths indicator from his counter trend 4HR system as well as a few other indi's from other systems that I thought were just too good to let go. When all of the NB 1.0 indi's say trade AND you get the sixths indicator hinting that the previous run has played out and at possible extremes I have found that it could signal a very safe and profitable trade. It certainly did in this case.

This trade went for over 80 pips in less that 10 hours. I hated that I missed the one the day after but I wasn't up to catch it and I'm not sure I trust the automated entry robots yet...perhaps in time.

I think Bob would probably like to see some fruits of his hard work as well. I imagine that most of the satisfaction he receives is not just from personal profit but from seeing others succeed....the tell-tale sign of an educator. - - Gregg
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nonfiction Apr 11, 2011 5:21pm | Post# 1106

I was wondering what FX broker you use? Bob explains in a nice way he likes to use USA based brokers. The new rules, however, changes the trading styles.

Please let us know who you places your trades. I enjoy your post and the graphics.
Hi forexwonder - I use two brokers, Alpari UK and IamFX. Why I picked them?

They both have very very low spreads on major pairs. (http://mt4spreads.com/)

I use Alpari UK as my main broker because I am in the UK.

I also picked IamFX because they provide free VPS (but there is a free usage quota, otherwise it's $35/m). They used to be in the US but moved because of new NFA rules and no longer accept US customers. Having said that, low spreads only apply to lower time frames, for this system the spreads don't really matter. If your looking for a good one, I would go with established and regulated brokers, Alpari, Oanda, Dukascopy just to name a few.

Alpari micro is great if your starting out, because there is no commissions on their micro account and their site provides a lot of educational material.

nanningbob Apr 11, 2011 9:56pm | Post# 1107

If there is one thing I'd like to see here on this thread is more examples of live trades. I'm sold on this system and I have a feeling others are as well. So, lets see 'em...both good and bad. Here's one that I think is a perfect setup. You'll notice that my chart has elements of Bob's 1.0 Trend Trading system as well as the sixths indicator from his counter trend 4HR system as well as a few other indi's from other systems that I thought were just too good to let go. When all of the NB 1.0 indi's say trade AND you get the sixths indicator hinting...

Yes I wish more guys would post trade setups. I dont have time to do that now but 7 more weeks of working two postions. Then I will have more free time again. So please post your trade setups.

silberFX Apr 12, 2011 11:12am | Post# 1108

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Yes I wish more guys would post trade setups. I dont have time to do that now but 7 more weeks of working two postions. Then I will have more free time again. So please post your trade setups.
Has anyone taken this last trade upwards, I missed it, don`t know maybe the red average was not below the TMA at that time so the EA didn`t take it. Or VPS issue. Sure it`s ok. Let`s move on.
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mphpopular Apr 13, 2011 12:33am | Post# 1109

Has anyone taken this last trade upwards, I missed it, don`t know maybe the red average was not below the TMA at that time so the EA didn`t take it. Or VPS issue. Sure it`s ok. Let`s move on.
Trade taken and managed by NB h1 auto EA, and trade closed @ +3pips based on the 15+3 setup

greglegrande Apr 13, 2011 2:47pm | Post# 1110

Eur/Usd Trade this morning (50+ pips)
 
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This is certainly not the best setup in the world but I took it for decent profit. As you can see the NB 1.0 main rules are there. TMA red touched. 5x5 is on the correct side. The rule that I broke was that the 240 MA (blue line) indicates long trades not short but the Swissarmyhisto HA indicator (bottom indicator) showed some weakness on the 4hr bar and when the 1hr bar joined in I thought it could be good for a few pips. Plus, it was over extended beyond the top line of the sixths indi AND had bounced off the BB. Not to mention the TMA looks like it wants to turn over. That's the actual TMA-not the TMAangle indi.

These trades (against the 240MA) are what I heard one experienced trader called "sniper" trades. You don't want to hang in it for long. Just take a shot and get out. It worked out.
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greglegrande Apr 13, 2011 3:00pm | Post# 1111

Gbp/Jpy Trade (45+ pips)
 
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Entered this trade last night. Missed the initial entry but as is so often the case it backed up and gave me an opportunity to get in. This trade is actually in compliance with the 240MA rule but it's still a "sniper" trade. The TMA is crashing down and the TMA angle doesn't look good either. BUT...it's well extended beyond the sixths indi, has come back inside the BB, found resistance on the bottom TMA, has had a mashki indi color change from red to blue, AND the necessary 5x5 cross. I also like the fact that the swissarmyhisto HA indi never gave up its weekly upside strength and when the 1-hr & 4-hr kicked in I pulled the trigger.

Had I been in front of the computer I would have gotten out when it hit the green line on the sixths indi but I've been home... sick in bed...and just got up to check it.
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greglegrande Apr 13, 2011 4:07pm | Post# 1112

Eur/Nzd (35+ pips)
 
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This was a great trade that I managed poorly. All of the entry criteria were met....NB 1.0 plus the ones I've added. It's on the right side of the 240MA, PA has bounced off the red TMA, 5x5 is on the correct side, TMA angle is good, the actual TMA was turning down...could have been more extended on the sixths indi but it's still solid...PLUS... the swissarmyhisto HA indicator turned down on every TF. I got in late and probably should have waited for it to back up and got in on a smaller TF but it worked out.

BUT as you can see I exited way to early because I had to go to bed (sick). I don't like turning my trade over to a EA...although wasn't there an EA that closed the trade when it crossed a specific MA? That might have some merit. Closing not crossing would probably be better though.

What I'd really like to see are some SL and TP lines that are hidden from the broker...if that's possible.

Anyway it continued to run for an additional 90 pips and looks to be turning but might continue to run even more but who knows. Either way...lot of pips left on the table.
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nonfiction Apr 13, 2011 10:20pm | Post# 1113

JPY Pairs.
 
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Has anyone noticed the JPY pairs. Most of them are hanging over a cliff ready to jump! There is just too much uncertainty with jpy to trade as anything can happen after the tsunami but have a look at this.

1) First screen is D1 chart. No correction for quite some time and price action is way outside average outer TMA extremes.

2) Second screen shows 1H. Red line is support line, which I think if it breaks are we expecting a strong down trend for price correction? So tempting to trade this but JPY to risky still? Most JPY pairs are like this, any expert comments welcome.
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greglegrande Apr 13, 2011 10:45pm | Post# 1114

Has anyone noticed the JPY pairs. Most of them are hanging over a cliff ready to jump! There is just too much uncertainty with jpy to trade as anything can happen after the tsunami but have a look at this.

1) First screen is D1 chart. No correction for quite some time and price action is way outside average outer TMA extremes.

2) Second screen shows 1H. Red line is support line, which I think if it breaks are we expecting a strong down trend for price correction? So tempting to trade this but JPY to risky still? Most JPY pairs are like this,...

Not an expert....but you got me interested. It does look good on the daily....and it is testing resistance for the third time in as many days. And the 1-Hr is backing up at the moment but what is your entry indicator since it's already crossed the 5x5? Are you waiting for a complete pullback to the upper TMA and then looking to get in on the next downward cross?

greglegrande Apr 13, 2011 10:53pm | Post# 1115

Possible Eur/Gbp setup
 
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Here's a possible setup if I can stay up for it.

1. The 240 is below and rising. So we're looking long.
2. It's touched the lower TMA.
3. The 5x5 is already on the correct side for the trade.
4. The TMA angle is down BUT the TMA itself is rising.
5. The 48MA has acted as support on the 8th, 11th, and just 1 hour ago.
6.The swissarmyhisto shows upside strength on the weekly & daily.
7. The MA ribbon(powder blue shading) indicates long.

What do you think? Is it worth an EA risk?
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greglegrande Apr 13, 2011 11:03pm | Post# 1116

Possible Eur/Jpy setup
 
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Here's another possible setup.

1. Bottom line of TMA touched.
2. Sixths indicator shows some resistance.
3. Is testing a prior resistance line of two days ago.
4. Swissarmyhisto HA shows weekly upside strength

The TMA angle is not good and the TMA itself is slightly descending however.
Also it looks like it wants to ride the BB down some more. It's backing up at the moment but could pause and the continue it's downward trend. If the Swissarmyhisto HA turns blue on the 1-hour (as it just did as I was typing) but then back to red then this could be a trend continuation.

Of course the beauty of Bob's system is the 5x5 cross not only acts as an entry indicator but also as an indicator to keep you out of a potentially bad trade.
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silberFX Apr 14, 2011 2:41am | Post# 1117

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A nise trade just reached the tp
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nonfiction Apr 14, 2011 5:25am | Post# 1118

Not an expert....but you got me interested. It does look good on the daily....and it is testing resistance for the third time in as many days. And the 1-Hr is backing up at the moment but what is your entry indicator since it's already crossed the 5x5? Are you waiting for a complete pullback to the upper TMA and then looking to get in on the next downward cross?
Hi greglegrande - Yeah the rules are not met for this system. I would be a bit undecided as to what to do next really. With such a strong upward momentum normally you be expected some decent correction. But the three attempts at getting a correction started failed so sentiment must be caution. Yep, I think JPY pairs might be good to short if they pull back to upper TMA again as you say. Something to watch out for I think because it might be a big move?

I noticed that on Bobs 4h system, a few people got in on this position and are hedging their shorts so they would probably be have a hawks eye on JPY at the moment?

nonfiction Apr 14, 2011 5:27am | Post# 1119

SilberFX - Nice trade mate!! NanningBobs 1.0 trend at it's best! Text book trade I think.

greglegrande Apr 14, 2011 9:35am | Post# 1120

Missed entries. Good thing for two of them.
 
Yep, I think JPY pairs might be good to short if they pull back to upper TMA again as you say. Something to watch out for I think because it might be a big move?
So did you get in? It did the above and then moved 50 pips to the downside after the 5x5 cross. I missed this one and the other two setups I was looking at. Good thing too. They crossed going up and then news slammed both of them hard to the downside. In fact the Eur/Jpy moved more than 150 pips down!


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