my contribution to nanningbob

hello my friends here at forexfactory.com,

SInce i'm a commercial member it is not allowed to poSt in the free forum Section. and i have to sit in my commercial jail and have to contribute from here

now this thread is a contribution to nanningbob and his system.
to my person:
i followed nanningbob and his method since the beginning. i have knowledge in trading with indicators and without them. i tried everything. scalping, intraday and swingtrading. grid- and antigridtrading. i tried the most reportoir of moneymanagement like martingale, pyramiding some progression systems you never heart about it. betwenn this iS the least discuSsed topics. i think the least know about deancer-, speak-, guetting- & labouchere progressions to name a few.
with all of this weapons in my pocket i have now better undersTanding of the market and how to trade this. i know 95% of all systems work in the right marketphase and the right time. this knowledge was an eyeopener and a moneypocket-filler.

now i'd like to give everybody this eyeopener and hope that everyone is ready for discussion. but this time i'd like to limit the discussion only to nanningbobs v5, because it is simple and easy to understand.

you know that versIon 5 is now a very stable trading methodology and gains money with ease. the original v5 will be traded in the 4hour timeframe. i tried it now in several timeframes and can tell that it works well in every timeframe. if you take attention at round numbers and support/resistance zones it is also possible to trade this in the 5 minute tf.

my concluSion or idea is thiS:

you have not to use it only for countertrend trades. it is also possible for trendtrading. why? in Some Situations the market turns and you are the first in a new trend. but the most time you trade into a market-correction, but what is with trades out of the correction into the trend? it iS alSo possible. the problem here is with the 120 barS lookback and the static RWB. in a perfect situation you see a trend coming close to the upper or lower chartscreen and you get a signal for entry. after you take some pips with you, the price is likely in the middle or at the 5/6th or 2/6th of screen and the correction is ready and turn into the next trendmove. how is it posSible now for us to take this reversalpoint to trade into the trend.
it is so simple. you have to Switch into a lower tf. thatS all.
and with this knowledge you could trade from trend into correction and back in to the trend and so on.
switching into lower tf is also perfect for getting razorsharp entries AND exits.
you could avoid so many possible multi-entries L1,L2,L3 if you switch into the right lower tf anD get a signal from this tf.
this is what i do. i'm trading only in 1h timeframe and if i get a signal from the 'NNBv5 Signals - Sq and Steve's' Indicator i'm switching into 5m tf and waiting here for the right entry i alSo look at round numbers and S/R zones like mentioned above.

with you all i'd like to finetune this method. create MTF-Signal indicator for the entries and exits. Especially finetune the lookback variable is i think very important also the RWB. the RWB is very static and market is very dynamic and swings in cycles. i believe in cycles and Do many statistical analyses.
before i forget this. this is a call to crodzilla. in your goertzel browser you have to take MathCos instead of MathSin to visualize the waves.
i know SwingMan likes programming dashboards. it will be glad to have you here on board.
everybody here is invited to work together for FREE. nothing we develope here is for sale intentions.

start here now and let us make huge profit...

here at this two pictures i will show you how i enter my trades and to leave early signals.
you know i'm trading at 1hour tf and aim for entry at the 5min tf.

the first picture shows a first short signal in gbpjpy at the start of week. you'll see that this was an too early signal to enter. then i switch to 5min tf and look for an opportunity to enter here.
to get a good feeling and confirmation you could use heikin ashi candles, an EMA(10,HIGH,LOW) channel and QQE(5). if candle closes below channel and candle is red (for short) and QQE crosses 50th level this is a good entry IMO.

you see in the second picture a false entry because QQE has not crossed 50th level line. this is the too early signal in the 1hour tf

i will attach QQE for those who does not have thiS indi in their reportoir.

errrrr.....you are entering at the 5 minute in the direction indicated by bob's method?

this is the way i see it... thv is trading during a retrace but in the direction of the trend on 1m and 5m.

if you were to use bob's method to Anti trend using 1m or 5m, it will be like anti-thv.

only one method can work at the same time. i think you need 4h and bob's method. that is what bob feels is the best time frame for his 6th indicator to work.

for example...if you tried to use bob's method but on 1m or 5m...you're gonna get killed... because in those tight time frames, the trend is stronger than the anti trend. using bob's method on 1m or 5m, is like completely anti-thv on 1m or 5m. however, notice, no one is suggesting to use thv psychology to scalp on the 1h or 4h. this should tell you something... there must be a thresh-hold where the trend is your friend and where the trend isn't.


as for 1h....that might work...i'm not sure. bob said 30m might work.... but he USES 4H himself. that should indicate something to you.....

by the way, in your picture, the place where you labelled: "ignore this signal".... when that signal orignally occurred, at the time that it occured, was it well above the final line of the 6th indicator (at the time).

hello chiba_san,

this is what i tried to explain here. maybe my english is too bad for understanding. i use bob's method in the 1 hour timeframe instead 4hour tf. and when i get a signal from bobs method i switch to the 5minute tf for better entries. you know bobs method has sometimes hugh dd because of bollinger band runners etc. bob is intendifieng the end of a trend to open orders into a retracement. thats correct. i don't know what thv system is do. i lookeD at it but think it is to indicator overloaded. this is what i sometimes think about bobs method, but it generates good signals. but they came sometimes too early. and to avoid L2,L3 trades i use the 5min timeframe. so simple.
and yes, i believe that we can use bobs method also for trendtrading. it depends only of the lookback-variable.

Let see now on EUR/USD, we have a sell signal on H1, but waiting for QQE signal to drop below 50 on 5 min TF, right?

yes xman, i got the signal too. i'm also waiting for the 5m entry.

i got a sell signal in the 5min chart.
eurusD sell @1.28164

the problem in eurusD 1hour tf is, that the macD is not over 85th level. but thiS entry now is defenitely better than 3 hours ago.

next signal is audusd short in 1h but waiting for confirmation in 5min tf.

i exited my eurusd short-order in my first account for 16pips in my other account i will hold position until 1.27764.


for all who are interested in my aggressive mm account here i provide myfxbook statistics. i started this at the july 21st 2010. this is my experimental account.

link to myfxbook-strategy

entry now audusd short @90816 target ~0.8988

Seems to me like huge potencial

i hope So xman. it is not fully at final Stage. my audusD short iS now -30pip, cause the last retrace at entry was very flat. now audusd is at round number and nzdusd will hit resistance, but did not have higher High at the moment in 5min tf. if nzdusd will fall audusd also. lets see what asian session will bring us.

oh and i'm short too nzdusD @0.71116

audusd was closed last night while i slept for +20 pip.

nzdusd still open with -20pip

i wish someone is willing to show this thread to nanningbob. sO he could decide and discuss with me how potencial the 5min tf entries are.

Thanks for the post. My story is I started about 3-4 years ago with the RWB indicator and on the 15M time frame. As each time I got whacked by long term runs I moved up in TF until I got to 4H TF. Eventually I dealt with the runner trades by developing the 6ths indicator and the 2.4.2 recovery system. If you trade my system on lower TF and you are in the middle of the 4H chart you can have currencies out run the recovery system at certain times of the year. So my opinion without having tested lower TF with this is you will probably need to set up a SL at some point or modify the recovery system somehow.

The bottom line is the 4H system was designed to fit my lifestyle so I could trade and still do my FT job. I can leave it all day and not worry about crazy market consequences. For lower TFs I can not give a lot of advice because I cant trade that way and havent done lower TF in years. I set my trades in the morning, go to work and revisit them in the evenings when I get home. The EAs combined with the MPTM allow me to do this.

I would be very interested to see if this can be adapted along with Renko bars. That is something I would be very interested in and I think its possible then on lower TF. However, at this time I am unable to put a lot of time into it. So I will keep tabs and see where this goes.

thank you nanningbob for finding your way here and for your statement.

the goal of this thread is to find signals in whatever higher timeframes and to finD the correct entries in the lower timeframes. your best fitted tf is the 4h because of what you mentioned in your post. i'd like to combine both.
4h signals + 5 or 15min entries. like some multitimeframing strategies i think this could work with your method too. and i think this could easly implemented in an EA. this could make the EA simpler because you do not need the whole exception rules.
but we will see. in the future if this mtf-method is at finaly stage i'll try to write a simple EA for testing.

now i traded the multi timeframing method 1 week i have good results in profit. the problem with the QQE is that it give late entries. if you look only to candle patterns it will give you earlier entries. this is what i try for the next weeks.
another observation with the sixth indi is, that you don't need it. if you analyse your charts first in the daily timeframe and look for S/R zones and round numbers and then switch into lower timeframes and analyse them down to 5min or 15min tf you will see if level broke or not. i think that the price retrace because he is in the upper or lower screen is not why he do this. if you zoom out you know why he retraces, because he hit support or resistance. you don't see it because you focus only on 120 bars back. look at the whole picture. zoom out and sit back.
if you see S/R zones there is a good chance that price bounce or break through. this is why secondary trades gain more profit if price bounce. because it hits S/R zone in the near past. to believe that traDing this in lower tf is not so profitable because the price in the 4hour tf iS in the middle of screen is not true. if you compare this you could alSo say the trade in the 4hour tf was not profitable becauSe price where in the middle screen in the weekly tf.
it only depends on S/R zones this iS the whole secret. you could alSo gain very good profits if price is in the middle of the Screen if you respekt the zones. zooom out/in and you will see that price is suddenly in the upper or lower Screen.
i don't want to bash this method i only want to open eyes for that and to bring light behind the scene.i will continue to trade this method and with the Same rules because it works. i only want to give s/r zones more chances.

wish good business for this week

Just read this thread and was wondering if you had any further insights into this? The idea seems useful on the face of it (not that I know anything, not even knowing NB's system properly yet either!)