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Nanningbob 60x90 EA

  • #1,841
  • Apr 25, 2009 4:24am Apr 25, 2009 4:24am
I posted a 5 digit version on page 1 also.
  • #1,842
  • Apr 25, 2009 4:30am Apr 25, 2009 4:30am
Quoting IamTHAT
Spikes should not be a problem when the steps are huge like in your present EA with few orders in-between. I prefer to use a multiplication of no more than 2 and naturally I will have more levels. I am trying to squeeze out more trades with a small account and that causes problems.
Long steady trend, as you mentioned is real headache with hardly any retrace to our requirement. This happens with EURUSD or EURJPY. I think stop orders can solve this by entering trades during reverse journey.
The fun with this one is you get to decide when to take profit. Some what more challenging but fun. I just let it run, avoid the interest rate stories and see what happens. Every 4-6 hours I would close my profit trades and let the other run. Only had 7 trades go 3rd level all month and 1 go 4 levels. Not much pressure riding on those trades.

You will get more reverse journey on the 4H chart since the 50 MA will not move that much over the week. On a 4H chart you can also go back years and visual test these numbers. The question now becomes, do you have the patience to wait for a 200 pip profit and will it get there?? Sorry to say I do not have that kind of patience yet. I missed out on a much bigger profit Friday, if I just would have riddent the Eur/Nzd all the way to the 200 profit mark from 3 levels down. Been a nice one. I still made a profit though so cant complain.
  • #1,843
  • Apr 25, 2009 5:00am Apr 25, 2009 5:00am
Hi nanningbob,

Thank you very much for posting the 180x200 4H.

Will test it out the coming week.

Once again I thank you for all you've done.

Rgds
Vincent
  • #1,844
  • Apr 25, 2009 7:41am Apr 25, 2009 7:41am
Quoting nanningbob
The pairs I used are in the profile. The multiplication was 2.0. About the only major pair I removed after a couple of days is the gbp/nzd. You can also be wary of the gbp/jpy under certain market conditions but that would be major news stories. I also tried one weekend to hold onto and play the gaps and it did handle it but that is when I had my biggest DD. The Eur/jpy went 3 levels deep and the GBP/jpy went 4. If I hadnt tried that no trade went over 2 levels deep. So you can see there is room for that. I also stuck this EA on top of my 4H trading...
Bob thanks again. A few begginer questions if you don't mind (for you or others....):

1) Can you say again what the "Multiplication" factor does briefly (sorry, newbie question)?

2) How do you ID "Important news stories"? Just the "Red" flagged items on FF calender? Certain acronym's (CPI, etc,etc) or important speakers/meetings scheduled? I am not that experienced in fundamentals and see alot of red flagged indicators all over the calender.

3) You mention you have been manually closing certain trades and letting others run.... Can you elaborate some on your thinking/technique here? I am not able to monitor markets for most of the day - what approach do you suggest in this case?

Thanks
  • #1,845
  • Apr 25, 2009 7:57am Apr 25, 2009 7:57am
Quoting nanningbob
The question now becomes, do you have the patience to wait for a 200 pip profit and will it get there?? Sorry to say I do not have that kind of patience yet.
This is my problem too. When I am watching the action, it becomes very difficult control myself not to close at the first level.
Well, if we are not greedy and have sufficiently large account, this is probably the safest way to trade. I have almost decide on this now.
"Put all your efforts in becoming effortless"
  • #1,846
  • Apr 25, 2009 8:06am Apr 25, 2009 8:06am
Hi,
Anyone can submit their live trading report for this EA with its setting and which pair ?
Thank you
Happy Trading
  • #1,847
  • Apr 25, 2009 8:11am Apr 25, 2009 8:11am
Quoting Qui-Gon
Bob thanks again. A few begginer questions if you don't mind (for you or others....):

1) Can you say again what the "Multiplication" factor does briefly (sorry, newbie question)?

Thanks
Multiplication factor denotes the amount by which successive trade lots are increased (This is sort of a Martingale system). Increment in such a way that when all trades closed simultaneously, it results in a profit.
If you refer to Bob's Holy Grail thread in the Rookies section, you will have the basics and developments of this system.
"Put all your efforts in becoming effortless"
  • #1,848
  • Apr 25, 2009 10:59am Apr 25, 2009 10:59am
Quoting Qui-Gon
[color=green]Bob thanks again....
see answers above.
  • #1,849
  • Apr 25, 2009 11:04am Apr 25, 2009 11:04am
Quoting Qui-Gon
[color=green]Bob thanks again....
Each reentry enters at a higher lot. This is to cover the negative ground we have been building. So if level one is .01, level 2 is .02, level 3 is .04, and level 4 is .08. That is a 2 times multiplication. I rarely go beyond level two or three anymore. The loss risk is just too great as compared with reward. It is how I handle the martingale factor. I dont martingale but just reenter a couple of times and then quit. I am now playing so wide on my EAs that the large hit is an extremely low possibility.

My EAs have such big range now that the only news stories that seem to be dangerous are the interest rate changes. That is where I lost money last year. Occasionally there are super news stories that affect the market, like 700 Billion bailouts, nuclear bombs, etc. Also if Tritchet and Bernanke are speaking around the same time or are testifying before congress or parliament, they can move the markets if they say something significant.

I have attached my red white and blue system and I use that along with support and resistance lines. I will close if the white line goes from one end to the other. It crosses back over the blue or I see price stop at a resistance or support line. I will put out my manual soon on the red white blue system. I am updating it now.
  • #1,850
  • Apr 25, 2009 11:09am Apr 25, 2009 11:09am
Next week Wednesday afternoon is the FOMC statement. This is a biggie. Probably they wont make any changes so the markets wont move too much. BUT IF THEY DO THE MARKET WILL GO NUTS. There would be currencies that would move 500-1000 points in an hour or so if they pulled a surprise like that there would not be any retracements probably for a day or two. Most likely they wont change the interest rates. I will definitely be in low to no risk mode that afternoon.

The rest of the week looks simple enough.
  • #1,851
  • Apr 25, 2009 1:28pm Apr 25, 2009 1:28pm
hi Bob
thanks for your efforts.. would you please explain a little more about 180x200 EA ???
saly
regards;
  • #1,852
  • Apr 25, 2009 6:53pm Apr 25, 2009 6:53pm
Quoting $aly
hi Bob
thanks for your efforts.. would you please explain a little more about 180x200 EA ???
saly
regards;
The 180 explanation is in the notes but it starts its first enter at 100 to catch many of the flat changes and then reenters every 180 points after that. The TP is set at 200 but you should take profit when you see it. It is very similar to the 60x90 just bigger numbers. Use support and resistance levels for TP or when the white line hits the opposite side of the indicator or crosses back over the blue line. You have more decision making to do with this one but I have found it worth it. 4H trading is a longer holding trade than other time frames. Takes some practice.
  • #1,853
  • Apr 25, 2009 7:20pm Apr 25, 2009 7:20pm
Bob,
Thanks for all your hard work and your explanations. Over the last fews days the GBP/JPY has been crazy. Did you trade this pair and if so, how did it go.
  • #1,854
  • Edited 8:05pm Apr 25, 2009 7:47pm | Edited 8:05pm
Quoting forexchequer
Bob,
Thanks for all your hard work and your explanations. Over the last fews days the GBP/JPY has been crazy. Did you trade this pair and if so, how did it go.
I did and it was very profitable. You can see on Mon and Tues it went 4 levels deep and retraced. This pic covers 4 weeks of price movement. You can see it staying in range during this time. If you stayed with the trade it had several nice 200+ pip moves. One of the big advantages of using the 4H chart is you get the run backs. I started trading this 3 weeks ago and on this pair you can see it started way up 4 levels above the 50 MA. That was almost 600 pips of movement it caught as it headed back to the 50MA. I will turn this EA on the GBP/NZD pair if it is far away from the 50 MA line. You follow it back and make some good money. You can see from this pic in the last 4 weeks you could follow price back from beyond 3 lines away 3 times. Not bad. I kept the EA running on this pair but you can see that if you wait for price to move far away from the 50 MA on pairs like this, it is a nice ride back to the center line. I will trade the Gbp/nzd this way and probably gbp/jpy and eur/nzd this way also. Right now things are quiet but if the market heats up again this might be an excellent way to trade these volatile pairs. Look back 4 weeks ago and you can see it went on a long run up. While price is running up and you cant get a strong retrace find a good place to take a small loss and look for the ride back. If you see the RED, WHITE and BLUE LINES all above the 85 or below the 15 that would be a good time to ride price back to the center line on these volatile pairs. That move 4 weeks ago was 1500 pips + and it did stay inside the range of the EA. It would have pushed it to near its limit but still it handled it. When you see the blue and white riding at 100 or 0 and the red line moving at a 45 angle, you may want to look at getting out if you think its going to push the EA beyond its limit. In weeks 2 and 3 the red line hugged the 50 line so you play the white and blue lines as they come out from the 85 and 15 lines on the sto/macd indicator.
Attached Image (click to enlarge)
Click to Enlarge Name: gbp jpy 4h.gif Size: 22 KB
  • #1,855
  • Apr 25, 2009 8:11pm Apr 25, 2009 8:11pm
In fact I took a look at the gbp/nzd and that is exactly what I will do. It is now over 3 levels deep and I can enter it now and ride it back to center. The distance is now almost 400 pips. I will wait for the Monday gaps and then turn it on. Should be a good trade. Here is a pic of it now. the red white and blue lines are about ready to merge.
Attached Image (click to enlarge)
Click to Enlarge Name: gbp nzd 4h.gif Size: 22 KB
  • #1,856
  • Apr 25, 2009 8:46pm Apr 25, 2009 8:46pm
Hi NanningBob, Thanks for all the great work....Do you know of any more current 7 year history data than the 11 2008 one?? How did you compile the data? I think this info is essential to picking which pairs to trade and what parameters to use. Many changes have taken place since Nov 2008 and it is dangerous to trade without using all the possible tools. Can I help in any way?? Thanks Bill
  • #1,857
  • Apr 25, 2009 9:39pm Apr 25, 2009 9:39pm
Quoting ENWBill
Hi NanningBob, Thanks for all the great work....Do you know of any more current 7 year history data than the 11 2008 one?? How did you compile the data? I think this info is essential to picking which pairs to trade and what parameters to use. Many changes have taken place since Nov 2008 and it is dangerous to trade without using all the possible tools. Can I help in any way?? Thanks Bill
OH its been on my to do list for about 4 months now This is how you do it though. Go to the chart of any pair you want the info on. Put the chart on 1D. Go to the upper left hand corner to file and then go to 'saveas' when you do save as it will save all the open/high/low/close information to an excell worksheet. save it to your desktop.

In the excell worksheet, C will be the open,D will be the high, E will be the low and F will be the close. In the H1 box type in =d1-e1 it will subtract the low from the high. Copy H1 and then click the H column on the top of the column. This will highlight the whole H column. Then do a paste and Excell will do the calculations for all the days on the sheet. Then go to the sort and line up from biggest to smallest and you will have the biggest moves on top and the smallest moves on the bottom. I then have a record of that information in the excell sheet along with the dates. You can then go back to that date in history and find out why the market moved so big and most of the time you will find an interest rate change or major government policy announcement. Save it and do it for every currency. Good luck, takes a good part of a day to do.
  • #1,858
  • Apr 25, 2009 9:57pm Apr 25, 2009 9:57pm
Hi NannyingBob, Thank you!! We're all eating fish now! Do you also have an easy way/explanation for the sort/compile of "ALL" the currencies?? (I also spent a lot of time working in China....and do miss it....especially with all the political/financial/societal insanity here in the states....you are a very lucky man (we DO make our own luck).... It would also be nice to figure out a way to sort and determine multi day larger, one direction without retrace, excursions of currency
  • #1,859
  • Apr 26, 2009 12:06am Apr 26, 2009 12:06am
Quoting ENWBill
Hi NannyingBob, Thank you!! We're all eating fish now! Do you also have an easy way/explanation for the sort/compile of "ALL" the currencies?? (I also spent a lot of time working in China....and do miss it....especially with all the political/financial/societal insanity here in the states....you are a very lucky man (we DO make our own luck).... It would also be nice to figure out a way to sort and determine multi day larger, one direction without retrace, excursions of currency
I am truly enjoying my stay in China but dont fool yourself. Life is better in the USA. As foreigners we live very well here but the average Chinese person has a very difficult life and would want to trade places with you in a heartbeat. Being a foreigner in China is a good life but being Chinese is much more difficult. There is a street here in Nanning where workers go to get day work. Years ago there would be a dozen guys maybe with their construction equipment looking for work. The other day there were hundreds there. Sooner or later they will get hungry. They dont have the social safety net here like we do in the USA.

Well in Excell you see the numbers on the left they will go all the way from 1 to 500-2500 depending on the currency. I then look at how many are over 1000 pips, 800,600,500 and so on. Since they are in number order it is easy to figure out. It just takes time. Even though October messed up the figures some, the market is just above its normal ranges so trading is becoming more normal again. The 180x200 will cover almost all of the moves going on now so I see better trading ahead. Of course that can all change with the next disaster.

There are so many doom and gloom prophets and end of the world people right now it is hard to get some common ground. My personal opinion is we are clearly going through the hardest financial crisis in our lifetime but the USA has reacted instead of waiting for disaster to strike like during the depression. Things are different this time because the stock market and bank health were tied so closely together last time. This time people have pulled their money out of the market and are sitting on it instead of being wrapped up in bank debt/loans. So those comparisons are moot to me. The banks are in trouble because of real estate not the stock market this time so there is still money out there. It just hasnt disappeared like the depression. So I see recovery happening not a depression. The real threat will be hyper inflation if the government doesnt get the excess money off the market once recovery happens. That will be a tricky balancing act. So this will make me public enemy #1 but raising taxes and repaying the debt with cheaper dollars will be the way to do it. Pay back the loans and try to curb inflation. Yes, I can see a president running on that platform in 2012.
  • #1,860
  • Apr 26, 2009 5:22am Apr 26, 2009 5:22am
I got the final tally for the IBFX contest. I finished 47th with a 28.6% increase using the 100x80. What is neat is I still have 4 more trading days for the month so I can add to it but not for the contest. I will try again next month.
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