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Nanningbob 60x90 EA

  • #1,921
  • Apr 30, 2009 2:38pm Apr 30, 2009 2:38pm
Harry,

Alot of us following this thread have done so for the past 3 months and are still learning details of the system as we watch our demos run over time. Please Harry take the time to let demos run and you will begin to see how your overall balance will increase slowly. I recommend you run a demo for at least 2 months as that will allow the system to deal with different ranging and trending movements with each currency pair. Most of the open trades will be negative because once they go positive, the EA gets out pretty quickly. Take your time my friend.

BTW my wife is from India, and I have enjoyed visiting three times. I love it there but wouldn't want to be in New Delhi during the summer.

Bioquim
  • #1,922
  • Apr 30, 2009 2:47pm Apr 30, 2009 2:47pm
Thanks for the feedbk Bioquim
Here is my questions, since i m only using default setting, and not touched anything, you think its still enough to get good results.. I see from the info of various levels of gaining losses bk by doubling the lot size from the previous loss. That part i didn't understand and not sure how to handle and get it working.

If there is anything i can do to make it better, please let me know..

Harry

ps: Going india for 2 weeks btw just to open my company launch there.. Like u said, i wouldn't wanted to be there summers with 50 degrees C
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  • #1,923
  • Apr 30, 2009 3:16pm Apr 30, 2009 3:16pm
Hi Harry,,,Read Nanningbobs pdf. on his strategy,,,,The trades that the ea are entering for you,,, are 4hr timeframes,,,Which means they take 12 to 24 hrs maybe longer,, to turn in your favor,,,This is a countertrend system,,,so your are going against the wind until the wind shifts in your favor,,,You need to micro manage your trades after the ea makes the entrys for you,,,The 200 pip take profit is a guideline....I like to take profits anyware from 50 pips to 150+.And let the negative trades run there course,,Every line or level below or above the 50 MA will be another averageing down trade,,,It seems like your getting deeper in the hole but not so,,,,,.most pairs will drift back to 50 MA line and bingo,,,,Theres your nice profit,,.Also you need to clean out the trades by Friday,,,So when you started your EA last night it might have been a little late for this week,,,This is a little more advanced system,,,,And NOT a set and forget EA,,,,Practice for a few months and then go live when you can consistently make profits week after week!! Good Luck!!!
  • #1,924
  • Apr 30, 2009 7:22pm Apr 30, 2009 7:22pm
Quoting piptalk
Hi Harry,,,Read Nanningbobs pdf. on his strategy,,,,The trades that the ea are entering for you,,, are 4hr timeframes,,,Which means they take 12 to 24 hrs maybe longer,, to turn in your favor,,,This is a countertrend system,,,so your are going against the wind until the wind shifts in your favor,,,You need to micro manage your trades after the ea makes the entrys for you,,,The 200 pip take profit is a guideline....I like to take profits anyware from 50 pips to 150+.And let the negative trades run there course,,Every line or level below or above...
Good summary and understanding. Thanks. Watch the red white and blue lines they will help you with your exits. I am writing a manual on how to use those 3 lines now.
  • #1,925
  • Apr 30, 2009 11:41pm Apr 30, 2009 11:41pm
Thanks Nanningbob....I am looking forward to checking it out,,,! Have a great weekend,,,And thanks again,,,, for such a dynamic and effective trading sysytem!!!
  • #1,926
  • May 1, 2009 8:54am May 1, 2009 8:54am
Reports:


Here is what I have found on the regular monthly reports so far:

Here are the three reports and when they’re released:

1. Non-Farm Payrolls/Employment Report - This is the
most influential news release of the month. It’s
announced on the first Friday of the month at 8:30am
ET for the prior month. Should be TODAY!!! as it is the
first Friday of the month May 1st

2. Consumer Confidence - The Conference Board conducts
a monthly survey of 5000 households to ascertain the
level of consumer confidence. It is announced on
the last Tuesday of the month at 10:00am ET.

3. Retail Sales - The retail sales report is a measure
of the total receipts of retail stores. This report
is announced around the 13th of the month at 8:30am
ET.

We just need to be cautious on these days especially and if anyone knows of other regular report days to look out for be sure to chime in.
  • #1,927
  • May 1, 2009 9:25am May 1, 2009 9:25am
I know this site has a good forex calendar, but my routine is to look at the weekly economic calendar on fx360.com to determine which pairs to avoid on which days, just seems clearer.
Aspice, officio fungeris sine spe honoris amplioris
  • #1,928
  • May 1, 2009 9:35am May 1, 2009 9:35am
hi,
i find that if we can select the "starting" green line to counter trade (now the default 1st green line), it will be much better, .e.g Gbpjpy. can we do it?
happy trading
  • #1,929
  • May 1, 2009 11:21pm May 1, 2009 11:21pm
Quoting footy
hi,
i find that if we can select the "starting" green line to counter trade (now the default 1st green line), it will be much better, .e.g Gbpjpy. can we do it?
happy trading
Here is the code in the program for changing the starting line. Right now it is set + - 100 from the MA. You can change it to 200 or 300 and rename the EA. If you have a 5 digit system you need to use + - 1000 or 2000 etc. Here is the code and it is found at the very bottom of the code. I highlighted the numbers in red so you can see. So go to the EA click modify and you can change the coding. When you change the coding Save it to a new name and then hit the compile button.

You then go into the template and change it by clicking on the screen and hit control I. Go to your moving averages and click on edit. Click on the middle tab and change the distance in the lines of your MA. Save the new template. Then drag the newly named EA onto the screen, make sure you click on allow live trading box and then save the template again and you are ready to go. You made your own modifications. When you change your MA you also need touse hundereds for 4 digit system and 1000 for 5 digit system in distance from the MA. Good luck.

//---- lot setting and modifications
//Sell order

if( Bid > Var6 +(100*Point))
{
myOrderType=1;//SELL
}
//buy order
if( Bid < Var6 -(100*Point))
{
myOrderType=2;//BUY
}
return(myOrderType);
  • #1,930
  • May 1, 2009 11:34pm May 1, 2009 11:34pm
The most interesting news stories this week are interest rate changes on the AUD on tues. But the big day is Thursday. Both the Euro and Gbp are up for rate changes. The GBP is not expected to change but they plan on changing the Euro. Afterwards Bernanke plans on speaking. This is one of the days you can really see some volatility beyond the range of the EA. Anything unexpected will make the market go crazy and if Bernanke says something unexpected the markets could go nuts. I do not recommend you being in the market anytime after the Euro open and just skip the USA market until lunch time. By then if the market has settled down you can get back in. If the market is still going nuts go take your wife out for lunch and wait until the next day.

On Friday, I am usually out of the market by USA open so I never worry about NFP. However, if any news pushes price deep away from the MA that is the ideal time to enter the market with my system. Just ride price all the way back to its MA for the next couple of days. Good luck.
  • #1,931
  • Edited May 2, 2009 12:04am May 1, 2009 11:51pm | Edited May 2, 2009 12:04am
I have started playing the weekend gaps with my 180x200. Because this EA has so much range I think this is a great play. Here is an example of last weeks NZD/ GBP gap. You can enter these trades Sunday night before the JPY open and take advantage of a quick huge jump. Notice how price was deep away from the MA and jumped back to the center. Price gapped 200 pips towards the MA and then moved another 200 pips in the first hour. This would be a 400 pip profit the first hour. If price had gone against me I would only be 2 levels deep into the trade and still have a great chance of a retrace. You can see the yellow arrows in the center of the page.
Attached Image (click to enlarge)
Click to Enlarge Name: gbp nzd gap.gif Size: 41 KB
  • #1,932
  • May 1, 2009 11:58pm May 1, 2009 11:58pm
Here are a coupld of gaps I am playing at .01 just to see how I will do. I found these for this weekend and I will play them. If you want you can get in Sunday night before the jpy open. gbp jpy, aud/jpy, and chf/jpy. I am looking for a quick jump in price the first hour and then close for a quick profit. Maybe it will work, maybe not
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbp jpy gap.gif Size: 26 KB
Click to Enlarge Name: aud jpy gap.gif Size: 25 KB
Click to Enlarge Name: chf jpy gap.gif Size: 22 KB
  • #1,933
  • May 2, 2009 12:01am May 2, 2009 12:01am
The other way to play the gaps is to wait until price jumps from the center to deep away the first hour and then enter and come back in. I have seen price do this. This seems to work best with the most volatile currencies. Gbp/jpy, gbp/nzd, eur/nzd, aud/jpy, gbp/usd, eur/aud. Others will sometimes do this but these are the best ones.
  • #1,934
  • May 2, 2009 11:28am May 2, 2009 11:28am
Hi Nanningbob,,,Thanks for your insight on nexrt weeks fundamentals,,,,Its nice to know where the potential landmines are,,,There were some solid trending pairs last week,,ie,,,,gbp/jpy and eur/jpy to name a few,,,Maybe a little more rangeing for this upcoming week,,,Which could be to our advantage,,,Last week was the first week for me trading the 180/200 4h,,,I got the hang of it quickly,,,And had a very profitable week,,,Cleaned out all trades during the middle of the NY session on Friday,,,I am looking forward to next weeks action ,,,,,I think I might trade the more volatile pairs manually and enter at the second or third levels +,-,,,the 50 MA on the 4h chart,,,,Have a good one!!!
  • #1,935
  • May 2, 2009 11:37am May 2, 2009 11:37am
The Sunday open gap play is a great idea,,,,As they tend to drift back to the 50 ma!! thanks
  • #1,936
  • May 2, 2009 8:13pm May 2, 2009 8:13pm
Quoting piptalk
Hi Nanningbob,,,Thanks for your insight on nexrt weeks fundamentals,,,,Its nice to know where the potential landmines are,,,There were some solid trending pairs last week,,ie,,,,gbp/jpy and eur/jpy to name a few,,,Maybe a little more rangeing for this upcoming week,,,Which could be to our advantage,,,Last week was the first week for me trading the 180/200 4h,,,I got the hang of it quickly,,,And had a very profitable week,,,Cleaned out all trades during the middle of the NY session on Friday,,,I am looking forward to next weeks action ,,,,,I think...
I am putting together a manual trading system off of the 4H chart. Probably take another week to finish but I think you will like it. Very clear signals to enter.
  • #1,937
  • May 2, 2009 11:56pm May 2, 2009 11:56pm
Looking forward to it!!
  • #1,938
  • May 3, 2009 9:17am May 3, 2009 9:17am
What are your guide lines for lot size trading all the pairs in your profile? I was going to set up a $2000 demo and trade .02 lots. But I saw you traded .02 lots on a lot less money so maybe I'm being too conservative. Thanks much for the new EA.
  • #1,939
  • May 3, 2009 9:28am May 3, 2009 9:28am
Quoting Toothman
What are your guide lines for lot size trading all the pairs in your profile? I was going to set up a $2000 demo and trade .02 lots. But I saw you traded .02 lots on a lot less money so maybe I'm being too conservative. Thanks much for the new EA.
I started at .01 and went maybe 30 bucks at the deepest and then went .02 and went about 120 at the deepest. So on 400 + that was about as far as I want to push it. I have changed my strategy some on the volatile pairs and wait until they are 2 levels deep before I turn on the EA and my DD went way down even on .02 I probably am going to reset the gbp/jpy, eur/nzd, gbp/nzd to like 250 or 300 for first entrance. That would solve some of my DD. You can see coming from outside in on those pairs would be quite profitable. I would try .02 and get a feel for it. Then see what happens. Send me an email sometime. I have something for you to read.
  • #1,940
  • May 3, 2009 1:41pm May 3, 2009 1:41pm
Hi All

Try the AUD/NZD with the 60 x 90 EA on the 1H chart and put the Bobs old AUD/NZD EA settings into the set up, something like this ( TP 35, Pips 25, multiply 2.5, Max trades 8, Stoploss 280)

Just keeps cranking out the pips. Ka-ching

James
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