Nanningbob 60x90 EA

My most updated version is found on page 213 post# 3184 to 3192. Uses one indicator and one EA. Very simple.
1. great summary of trading philosophy of this thread by JAY p. 224 post # 3353
2. IAMTHAT pending order EA is posted on page 224 with a summary Post # 3349 and 3352
These seem to be the best two going right now.
This EA is developed around several trading theories.
1. Dark Star did a great thread on what the Forex really is, you can find it here: http://www.forexfactory.com/showthread.php?t=7484
Because the Forex is designed primarily for businesses, banks, and governments to exchange currencies in very large amounts, it does not behave itself in a consistent matter. At any time or place someone, bank, govt., business can exchange a huge amount of currency and it will have nothing to do with Fundamentals or Indicators or any combination of both. Every system ever developed can be disrupted by these exchanges and thereby ruining any strategy. I concluded that you can study to your hearts content everything about Forex trading you can find but when GM cashes a billion dollar check because it sold county X trucks no system can cover these events. To counter these happenings I developed a theory of trading a currency's range instead of specific entrance and exit points. A currency will only move a maximum X amount of pips in one day. Develop a system that stays within that range and stay away from the super news stories, like 700 Billion dollar bailouts and interest rate announcements, you can successfully trade the Forex on a regular basis.
2. This lead to my second point, I am not the only one doing this, it just isn't posted in 99.5% of Forums, sales pitches, etc. etc. Please read this article which clearly states my trading philosophy and how it functions. This EA attempts to trade according to this philosophy.
http://www.sfomag.com/article.aspx?ID=598&issueID=35
Attached to this post are my EAs and instructions manual. I will continue in my following posts to show this system and some of my live results.
3. Added new material on how to use the recovery EAs and the six rules on using them. P. 8 post# 106-110
4. Due to testing it is recommended that the only pair in the 5M chart that can be traded consistently without hittting the stop loss regularly is the gbp/usd. The gbp/chf and the eur/gbp have both consistantly been hurting this system. It is just the way the fundamental movement of the pound is acting right now. The gbp/jpy has done well along with the eur/nzd but they have come close several times. If you use these live trading be more conservative with them and watch the news stories closely. Probably if you didnt trade the USA session with them you can still do fine. That is what I am doing with my live account. Anyways enjoy.
5. P. 61 post #915 has an important note about demo and live trading.
6. VERY IMPORTANT LESSON LEARNED POSTED ON P. 98 POST #1459 (avoiding the interest rate news stories.)
7. Here is an EA up grade 180x100. I used it live in the April 2009 IBFX contest and did very well. 78% win ratio. It is set for 4 digit brokers. I will attach a 5 digit version soon.
8. I added a 5 digit version, it works on a backtest but I have not live traded or lived demo it. I just changed the numbers in it so it should work with a 5 digit broker.
9. If you have a dime broker instead of a penny broker, you may have to change the lot number from .01 to .10 for it to work with some brokers.
10. I removed the 180x200 and replaced it with a 180x100 using a 20 MA. I found this to work better. I posted a 4 digit and 5 digit system. The 5 digit system has no profile folder however. Some instructions are found on p. 145 post 2167 on directions for the 5 digit system.
11. P 141 and following pages we start a discussion of the 242 recovery system. This is very valuable in getting out of troubling tades. On page 143 I talk about the difference between the 242 system and the recovery EA. Also read post #2417 p. 162
12. P.154 post #2310 I give a more detailed explanation of the 180x100
13. P 155 post #2314 I give more explanation of my trading theory and why inflation may not mean a devalue of the USD. I maybe wrong but it is my thoughts at this time.
14. P 157 posts #2353 to 2355 teaches you how to program a BB EA and use my trading system with it. It also teaches how to change an EA from a 4 digit to a 5 digit system.
15. p. 159 post #2373 I explain the best pairs to trade for a beginner of my system.
16. p. 161 post #2407 I give the result of my 4 month live test. Which pairs did good, which pairs did bad and what pairs I will no longer test on a live account.
17. I updated the 180x100 included a 200x200 for volatile pairs and updated the booklet for it. I also have the 40MA BB. All of them have 4D and 5D versions. I also included the indicators that go with them and instructions on how to put the in MT4 I will remove the previous versions after the weekend.
18. I updated the 60x90 for 5Digit brokers. The folder has both 3L and 4L versions.
19. How the different EAs handle the different volatility of each currency pair is discussed P. 183 post #2736
20. More discussion on the 2.4.2 recovery system. P. 185 post #2767.
21. Shows price movement for 5 months, shows two trades needing the 2.4.2 recovery system. The other trades using the 40MA BB had this record over a 5 month period on the eur/jpy. 24 winners, 2 losers and two minimal losses or winners.
22. Page 189 Post #2821 Why Interest rate stories can be very dangerous to trading and trading systems.

Rules are very simple,
1.Do not open trades until after the weekend gaps. Somtime after the Jpy open would be good.
2. Do not hold trades over the weekend if at all possible. News stories can cause huge gaps which can ruin the trading system and its reentry features.
3. Demo the system for a good period of time until you are comfortable with which currencies or group of currencies you like to trade with.
4. Please read the manual first. You wont understand some of these pics until you do so.

1st pic is the Nzd/jpy for one month. Each dotted line to dotted line is one day. The key is price stays within the yellow lines and that is your safe zone. You can check every currency using the blank template and seeing which TF each currency would work best in.

Here is my live trade results I had one 500 pip SL during a 3 week period. This is not demo but live trades. I started at .01 but after the SL and development of the recovery EA I went to .05. You can see profit moving much quicker after that. The drop right at the very edge is a 250 pull on Friday. I take profit whenever I can take it. You have not earned one penny until you take it out of the account.

Good Luck For Ur Efforts But Cannot Open Ur Zip File It Is Corrupted.

Thanks Goodday

Here is a really interesting live account. I had an account with 7 bucks in it and so I traded the 1H currencies for 10 days at .01. The DD was so low that the account traded it all the way to 20 bucks. Almost tripled the account. I went this is cool so I added the 30M ones and blew the account out but again the point is the low margin and DD of the system. Trading only 5 currencies it did fine, when I went to 10 I blew it out.

Very interesting system.
I am just about to start to try to get my head around the manual.

Now for the serious money. This is live demo 5 days, trading all 22 currencies on the 3level system. Levels traded .10, .30, .90 Never used the 4th level. 1440 dollars in profit. 5000 dollar account, never went more than 2-300 DD

Hello

There is something wrong with the zip file, guess they are corrupted can you please check them and re-upload

Thanks

The last post was a demo on ITFX trading dimes.

This is an IBFX demo live 22 pairs trading one penny lots on 3000 dollars using the 4Level system. Lots are .01, .03, .09, .27 .01=1 penny with IBFX micro. One of the main reasons my live trades didnt do as well is I closed a couple of trades I didnt like and I did not do the Thursday FOMC news. You will see in another post why. This was a 117 dollar profit.

OK I want to finish my posts then I will re upload. I downloaded it on my computer and opened it. Try again. Let me know if there is a problem.

News trade. The Eur/NZD on thursday posted 11 trades when it moved over 689 pips. Here is a pic of that day. The EA handled the whole thing.

The Zip file was fine when I downloaded it a few mins ago.

One of the features of this system over the others is the inclusion of a recovery EA if you choose to use it. Here is a Eur/USD trade I used it on. The white lines were the standard 4L entrance. The purple line was the 5th level reentry. The Pink line is the 5th levels profit line. You can see the 5th level takes a 100 TP the 4th level has a small profit and there is more profit than the 3 losing level trades. Sometimes you dont get a profit on a recovery but you do get to cut your losses. This trade happened to make a small profit.

This pic also shows the one kind of trade that can beat the system. It is the long drawn out trend trade that just wont retrace over a period of days. When you see price hanging along one line, like the first red line in this trade you may just want to take the small loss rather than seeing it slowly take the life out of your account. This type of trade is most common with the Aud, NZD, and Cad currencies. They love to just do this long slow trend for days on end. You can see it happening though and learn to deal with it. The major currencies will jump around more and retrace while commodity currencies will just slowly drift in one direction.

I used the Eur/usd to show it can happen outside the commodity currencies.

Good. I am almost done, will go for a walk and then come back. I have been working on this for the last 24 hours so I could post it. I want to take a break.

good to see my parameters I had were not too far of yours Bob

I want everyone to understand that I trade a 400:1 leverage on IBFX. If I use 1000 dollars on a live account that is 4000 dollars on an account of 100:1. I dont want you to margin out because you did not estimate correctly your trading margins and lot usage.

Many thanks for your hard work with this system and indeed your philosophy of sharing. Greatly appreciated. Maybe you should get some decent rest, I am sure it will take a while for everyone to get their heads around the manual.

Yeah, a good walk clears the soul.

on that note aswell id reccomend trading pennies intially (when you decide to live trade) till you get the hang of it so you experience live trading with your broker as demos can be a little fixed (spread, execution etc)...

i unluckily got margined out on friday due to a 21st and leaving an open position during the US session, but i was averaging 3% a day...

as Bob said in the word document, learn the unique aspects of each currency that is in the basket traded here, regarding news items, spikes, no retracements etc....

also if you trade fridays try and get out before the US session...

Hi there Bob,

Congratulations!

With the start of the new Lunar Year of the Ox and after all the fireworks and firecrackers to drive away the evil and the bad, this is as auspicious a time as any to launch your new improved turbo model.

I wish you success. May the PIPS be with you.

Cheers!

Trader7

One more pic to help you understand the system the TP lines are in dotted yellow. Reenter every 90 TP in 60. Just another visualization.