Grabbing the bull by the horns!
- | Joined Jan 2009 | Status: The only way to win is to get in | 215 Posts
the markets moving, time to get in!
NanningBob's 4H Sellhigh BUYLOW 158 replies
Help regarding NanningBob EA 27 replies
Nanningbob 4H trading system 2,017 replies
Indicator needed for Nanningbob strategy 2 replies
Help to improve profitable EA - 1H NanningBob 40MA 200 BB 10 replies
DislikedDang mine hasn't even gotten in once. Came close though. I'm fiddling my thumbs waiting.. lolIgnored
DislikedThanks Nanningbob for the fantastic system. I agree with you, this is a retracement system. There will be draw downs if a pair trends heavily, but the theory behind the strategy is very sound - all pairs generally breath along their trend and 60 pips in retracement isn't very much to ask.
In running a demo over the past week, I notice four pairs that encompass most of the trades in my demo: gbpnzd, eurnzd, gbpaud, euraud.
Any thoughts on this? Thanks,
BioquimIgnored
DislikedTo take advantage of big trends. Not always the price goes back to the median. Currently the biggest problem of this system is the big trends, I was thinking if we could use them to our advantage. Something like a combination of your 2 systems if you like, when there is a big trend that takes out a 4th level trade, we switch to the trending EA for 1 trade, and then back.
On a similar note, has anyone who is testing the system checked in backtest what is the probability after losing a 4th level trade that the trend continues against us or comes...Ignored
Dislikedheres some thoughts ive had regarding hedging in this EA...
It is important to have a solid foundation in technical analysis regarding price action and support and resistance, you still have to be able to read a chart with some skill, this is a semi-EA not set and forget.
[color=black]Say we are using the MA strategy (ie only a buy or sell position open, not both ways), Bob has introduced a Recovery EA to get you out of trouble if it goes a 4th level etc. You only put on the recovery EA if you believe...Ignored
DislikedThere is no such thing as a system that can handle all market conditions, so why not just trade 2 systems - one for range and one for trend/breakout? I'm sure that it will all average out in the end.Ignored
Dislikedby the way, I've made $1.83 today with penny lots on a $1500 account. Guess you need a lot to make a lot.Ignored
DislikedI think we should all lend forexisfx the money he needs so he can try this live. Has anyone figured out how large an account you would need to use penny lots and be guaranteed profit? I think I'll play with the numbers today. The bakery is sloooow.Ignored
DislikedFirstly, thanks to Nanningbob and everyone else in this thread for sharing your ideas and hard work coding EAs/templates/documentation.
What do you guys think about using a volatility filter?
Why not make the distance from median, TP and maybe the SL dynamic from week to week by using multipliers of the previous week or daily ATR(x)?
eg. 0.6 x previous week range
It won't help if there are sudden crazy breakouts, but at least the next day/week can be adjusted according.
Also, without the static 500 pip SL, position sizes could be greater...Ignored
DislikedBecause of all the big news stories floating around, I will go with a controled loss over a recovery right now. Just a gut feeling, a proactive congress seems to make the USD trend to the positive over its Euro counterparts. So I will just take the hit between now and the Euro open if I need too. It will not be a big loss and I will still profit from yesterday. I see a double bottom on the 1H chart so I will hang with it, possible reversal signal there.Ignored
Dislikedby the way, I've made $1.83 today with penny lots on a $1500 account. Guess you need a lot to make a lot.Ignored
DislikedI ended up getting out of that eurusd at about breakeven or for a very small loss before euro started last night. I would have let the recovery trigger if it had continued down, but glad i didn't have to.Ignored
DislikedSo where's the happy medium, do you think? I was trading dime lots which seemed too high, and now pennies seem too low. Should I raise lot sizes, or is the market just too slow right now. I'm using Bob's 17 recommended pairs.Ignored