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Bobnannings Range trading method

  • #101
  • Jan 24, 2009 1:23pm Jan 24, 2009 1:23pm
Hi, I have heard of range trading and I would like to demo it to see how it works. I am not sure of what settings the EA should be done at besides a 5 minute time frame. Should they set at the default setting on the EA, for example take profit 600 or should they be changed?
  • #102
  • Jan 24, 2009 6:55pm Jan 24, 2009 6:55pm
are there any reasons to set up the MA on a 5min chart, 30min chart or 1hr? whats the dfifference....

ive been demoing all off the 120MA for 5min chart...
Grabbing the bull by the horns!
  • #103
  • Jan 24, 2009 7:00pm Jan 24, 2009 7:00pm
Quoting whitegoodman
are there any reasons to set up the MA on a 5min chart, 30min chart or 1hr? whats the dfifference....

ive been demoing all off the 120MA for 5min chart...
It depends on the currency. The faster the moving currency the lower the TF. The slower the currency the higher the TF.
  • #104
  • Jan 26, 2009 2:45am Jan 26, 2009 2:45am
Go to this thread p. 4 and see pics of a trade with IBFX see how they are messing with it.


http://www.forexfactory.com/showthre...=1#post2493412
  • #105
  • Jan 27, 2009 7:47am Jan 27, 2009 7:47am
If you're close to a margin call with several positions open, which would you close first? I'm referring to a 100x80 several levels deep on some trades. I'm trading 8 pairs starting at .10 in a 2,000 account.
  • #106
  • Jan 27, 2009 8:17am Jan 27, 2009 8:17am
Quoting jthomas71
If you're close to a margin call with several positions open, which would you close first? I'm referring to a 100x80 several levels deep on some trades. I'm trading 8 pairs starting at .10 in a 2,000 account.
That is a tough question based on market conditions. If the deepest ones are just in trouble close them first however, if you feel the market is going to go in your direction on the trade then close the small ones. I have done it both ways depending on how I thought the market was going to go. Since there is a big news story this afternoon you probably want to be out by then.
  • #107
  • Jan 28, 2009 1:15pm Jan 28, 2009 1:15pm
nanningbob, or anyone....is there an indicator, or a way to include in this EA an alert when the pair reaches a certain amount of pips from center. I would like such a thing so I could determine whether or not to activate the EA. My thoughts are to not activate the EA until there was some sign of reversal using moving average cross, or similar method. Wouldn't this save you from going too many levels deep by getting in too early, or do you think it would cost too much in pips waiting for reversal confirmation?
  • #108
  • Jan 28, 2009 1:53pm Jan 28, 2009 1:53pm
Quoting paradoxical
nanningbob, or anyone....is there an indicator, or a way to include in this EA an alert when the pair reaches a certain amount of pips from center. I would like such a thing so I could determine whether or not to activate the EA. My thoughts are to not activate the EA until there was some sign of reversal using moving average cross, or similar method. Wouldn't this save you from going too many levels deep by getting in too early, or do you think it would cost too much in pips waiting for reversal confirmation?

I am sure that wouldnt be too difficult to do. Any MA cross warning system that had the extra spread put in like I did with the EA should work. I tried for a couple of days of programming a MA cross EA above the line but I couldnt get rid of the peaker trade. In other words one that would MA cross right after crossing the line and then price would go against you and you still were in a bad trade. I like much better what I am working on now but I want to test it a couple of weeks live before posting it. I think I have most of the parameters I want in it but live testing on 23 currencies will let me know what problems I will arrive at. If you have seen my other posts about the spread widening you realize that is one issue I am dealing with.
  • #109
  • Jan 29, 2009 5:53am Jan 29, 2009 5:53am
I downloaded mt4 from mb traders but can't get the eas to activate. Has anyone else had this issue? How do I modify ea for a 5 digit broker? Also wondering if .50+ per trade in commissions is profitable with hedging and so many small positions open.
  • #110
  • Jan 29, 2009 7:53am Jan 29, 2009 7:53am
Quoting jthomas71
I downloaded mt4 from mb traders but can't get the eas to activate. Has anyone else had this issue? How do I modify ea for a 5 digit broker? Also wondering if .50+ per trade in commissions is profitable with hedging and so many small positions open.
I havent been able to get the MT4 to work at all much less use my EA. Will wait on them.
  • #111
  • Jan 30, 2009 7:15am Jan 30, 2009 7:15am
I've been running the 100x80 with great success all week. Yesterday and today, however, it won't issue a buy eur/usd, only a sell. It's done this with a few other pairs as well. I've tried on two different computers, both with ibfx mt4, both on my live account and with different demo accounts. Anyone else having this issue. Is it an end of the week trading issue? i've read bob's issues with ibfx, and wonder if he thinks this is related.
  • #112
  • Jan 30, 2009 9:33am Jan 30, 2009 9:33am
Quoting jthomas71
I've been running the 100x80 with great success all week. Yesterday and today, however, it won't issue a buy eur/usd, only a sell. It's done this with a few other pairs as well. I've tried on two different computers, both with ibfx mt4, both on my live account and with different demo accounts. Anyone else having this issue. Is it an end of the week trading issue? i've read bob's issues with ibfx, and wonder if he thinks this is related.
Try this first. Take a currency where the buy has worked and save that template. Then put that template on the ones that are not working and see if that solves the problem. Also open the program up and compile it. Yes I have had some problems but I chalk that up to having 6-8 MT4s running on my computer with some of them running up to 22 currencies. Also I change the Magic number on occasion. I know IBFX has a limit on the number of trades you can do but I dont know if that has anything to do with it.
  • #113
  • Jan 30, 2009 10:33am Jan 30, 2009 10:33am
Quoting jthomas71
I've been running the 100x80 with great success all week. Yesterday and today, however, it won't issue a buy eur/usd, only a sell. It's done this with a few other pairs as well. I've tried on two different computers, both with ibfx mt4, both on my live account and with different demo accounts. Anyone else having this issue. Is it an end of the week trading issue? i've read bob's issues with ibfx, and wonder if he thinks this is related.
You were saved actually!

Bob, we need this feature please.
"Put all your efforts in becoming effortless"
  • #114
  • Jan 30, 2009 10:53am Jan 30, 2009 10:53am
Quoting jthomas71
If you're close to a margin call with several positions open, which would you close first? I'm referring to a 100x80 several levels deep on some trades. I'm trading 8 pairs starting at .10 in a 2,000 account.
I was wondering what 8 pairs you were trading now, because my account size is about the same as yours and I am planning to start live trading soon.

I have an account at FXDD, planning to start at .01 (mini lot), $.10 a pip trading. Is your trading $1.00 a pip or $.10? That is, I am rather confused by the lot sizes posters are referring to. Apparently, IBFX and FXDD call their lot sizes diffferrently.

Lastly, do you use the default settings with 100x80? If not, what are your settings?

Good luck!
  • #115
  • Jan 30, 2009 6:07pm Jan 30, 2009 6:07pm
Hey Michael,

I chose the following 8 pairs for 3 reasons. 1, they are in Nanningbob's list. 2, they have the narrowest pip spread of the 12 Bob recommended. And finally, since Bob uses a 3,000 account for trading and I use a 2,000, I use 2/3 as many pairs.

eurusd
usdjpy
gbpusd
usdchf
usdcad
audusd
eurjpy
eurchf

I don't know what typical results should be, but I ran these every day for about 12 hours for three days and made $135. Not bad for my first week as a forex trader. On 2,000 thats about a 300% annual return on investment. I don't think I was ever down more than $150 in equity at any given time, so margin calls are definitely not an issue for now. Remember I'm as new to this as you, so use my advice with caution!
  • #116
  • Jan 30, 2009 6:57pm Jan 30, 2009 6:57pm
jthomas, i didn't realize you were fairly new at forex. Congratulations. IMHO, you picked a very good system to start with.
Quoting jthomas71
Hey Michael,

I chose the following 8 pairs for 3 reasons. 1, they are in Nanningbob's list. 2, they have the narrowest pip spread of the 12 Bob recommended. And finally, since Bob uses a 3,000 account for trading and I use a 2,000, I use 2/3 as many pairs.

eurusd
usdjpy
gbpusd
usdchf
usdcad
audusd
eurjpy
eurchf

I don't know what typical results should be, but I ran these every day for about 12 hours for three days and made $135. Not bad for my first week as a forex trader. On 2,000 thats about a 300% annual return on investment. I don't think...
  • #117
  • Jan 31, 2009 8:37pm Jan 31, 2009 8:37pm
Quoting jthomas71
Hey Michael,

I chose the following 8 pairs for 3 reasons. 1, they are in Nanningbob's list. 2, they have the narrowest pip spread of the 12 Bob recommended. And finally, since Bob uses a 3,000 account for trading and I use a 2,000, I use 2/3 as many pairs.

eurusd
usdjpy
gbpusd
usdchf
usdcad
audusd
eurjpy
eurchf

I don't know what typical results should be, but I ran these every day for about 12 hours for three days and made $135. Not bad for my first week as a forex trader. On 2,000 thats about a 300% annual return on investment. I don't think...
Thanks a lot for sharing your list!

I am planning to trade the following 8 pairs:

AUDCAD
CHFJPY
EURCHF
EURGBP
EURUSD
USDCHF
USDJPY
AUDNZD (35x20 or 35x25)

As you see, my list differs from yours slightly. Instead of AUDUSD, EURJPY, GBPUSD, and USDCAD, I chose AUDCAD, CHFJPY, EURGBP, and will throw in AUDNZD with either 35x20 or 35x25 method. It is just that the recent volatility of EURJPY and GBPUSD concerns me a little bit. As to AUDUSD and USDCAD, Bob recommended not to match a major with a minor if I remember correctly.

You wrote that you had run every day for about 12 hours for three days, I was wondering if you had a particular trading session or set (regular) trading hours. As I live in the West Coast, I plan to trade the Japanese session, starting at 4:00 PM PST and closing at around 2:00 AM PST (beginning of the European session). I prefer to wait till the beginning of the US session, though. I could stay up until 2:00 AM OK, however, it would be rather too much of a hassle for me to get up at 5:00 AM PST and things like that.
  • #118
  • Last Post: Feb 1, 2009 4:17am Feb 1, 2009 4:17am
OK here it is, the complete system

http://www.forexfactory.com/showthre...=1#post2507114
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