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Nanningbob 4H trading system

  • #81
  • May 20, 2009 11:25am May 20, 2009 11:25am
Not much happened to day. I regret not taking the gbp/jpy when it was +150 up but I thought it would go farther but now I am back to even. Closed some trades out when I thought werent going anywhere. Eur/cad, eur/aud -83. USD/JPY +96 USD/CHF +79 so up +92 for the day. Have a bunch of trades that havent gone anywhere yet. A couple spiked in the wrong direction at the news story but entered second level and see what happens. GBP/USD and GBP/CHF are hanging high in the air waiting to come down. Not entering any new trades at the mid USA session. So we wait to see where price goes next.
  • #82
  • May 20, 2009 1:53pm May 20, 2009 1:53pm
Quoting nanningbob
If you look at the Pic gbp/jpy above what usually happens is this is a retracement in an uptrend. The red line is angling up and white is coming down and blue is undecided at this point. You probably will not get a big move out of it but something over 100 pips is most likely then it will go into ranging mode or uptrend continuation. If you look at the last 4 weeks of action this area is a range area.
You summarised the trade quite well, with the explanation of the indicators and their positions.
  • #83
  • May 20, 2009 3:36pm May 20, 2009 3:36pm
Quoting nanningbob
Not much happened to day. I regret not taking the gbp/jpy when it was +150 up but I thought it would go farther but now I am back to even. Closed some trades out when I thought werent going anywhere. Eur/cad, eur/aud -83. USD/JPY +96 USD/CHF +79 so up +92 for the day. Have a bunch of trades that havent gone anywhere yet. A couple spiked in the wrong direction at the news story but entered second level and see what happens. GBP/USD and GBP/CHF are hanging high in the air waiting to come down. Not entering any new trades at the mid USA session. So...
how long are you gonna hold on to GBPCHF if it doesn't turn around Bob?
change the future, not the past
  • #84
  • May 20, 2009 5:22pm May 20, 2009 5:22pm
Quoting 137
how long are you gonna hold on to GBPCHF if it doesn't turn around Bob?
I will play it through the JPY session. This is where I wait for my retracement. If I dont get my retracements I will take my losses. Dont want to hit the eur session in the hole and then get into serious trouble. I manually entered a sell at this point. Also the gbp/usd. If by before Eur session I havent got it. I will take my loss and reenter. Both of these I am looking for my best out. Try to get as small as a loss as possible. All my profits I am taking except the NZD I set my TP and TS. Also did the same with chf/jpy. Currencies that havnt gone anywhere many I have closed. All my Aud trades I have closed for profit.

I opened these trades this morning, I mean put on the ea for these: Eur/chf, aud/usd, gbp/nzd. Looking to close out most of my trades open during this jpy session. Probably will have a losing session but trying to keep it at a minimum. I have closed several at profit now try to minimize my losses.
  • #85
  • May 20, 2009 5:32pm May 20, 2009 5:32pm
Closed USD/JPY for +127
Aud/jpy +40
AUD/CAD +80
Aud/nzd +50
Eur/jpy +5
Eur/nzd -30

I subtracted the losing total from the positive totals instead of reporting each level. I look good on my closes right now but that could change with the closure of the GBP trades. Hopefully they will retrace.
  • #86
  • Edited May 21, 2009 1:16am May 20, 2009 8:21pm | Edited May 21, 2009 1:16am
im noticing maby 70% success rate, Id advise that if a pair opens and lingers for a while or drops a little to close it if the signal (red,white and blue + BB etc) change... also once something goes to level 2, im looking to get out at a small loss or break even then if the signals still there start from level 1 again.

EDIT: im only running 2 levels, so this may be different depending on your re-entry signals
Grabbing the bull by the horns!
  • #87
  • May 20, 2009 10:35pm May 20, 2009 10:35pm
I am going to try a new strategy on run ups. I will let you know how it goes. What I did was take the EA off the screen on GBP/CHF and GBP/USD and closed the first positions that had opened. I kept the other positions. This way I am no longer deep in the trade. Now both of my trades are inside 200 points and I am at a good location for a retracement or change of direction. I have 5 positions open now between the 2 currencies and only one is more than 100 pips in the hole. This maybe a way to get rid of a bad trade but still keep positions that may be solid. Now I dont plan on closing all the positions before the Eur session. I will let you know how it goes.
  • #88
  • May 21, 2009 1:36am May 21, 2009 1:36am
Quoting nanningbob
I am going to try a new strategy on run ups. I will let you know how it goes. What I did was take the EA off the screen on GBP/CHF and GBP/USD and closed the first positions that had opened. I kept the other positions. This way I am no longer deep in the trade. Now both of my trades are inside 200 points and I am at a good location for a retracement or change of direction. I have 5 positions open now between the 2 currencies and only one is more than 100 pips in the hole. This maybe a way to get rid of a bad trade but still keep positions that may...
thanks for the insight Bob
change the future, not the past
  • #89
  • May 21, 2009 3:53am May 21, 2009 3:53am
Well, I dont know what happened but GBP dropped like a rock and took my profit and got out before I lost it. WOW. Hundreds of pips there. I might have been stupid to do that but after sweating it out for two days. I wasnt quite sure what happened. All of them have dropped 250+ so far. So I am happy. I placed TP another 100 pips away with TS and see what happens. I am all smiles now. Glad I didnt close out but just dropped the wost ones. I am home free. The only thing left is should I have stayed in or was I smart to get out. ONe thing I have learned about this business is to be happy with profit. I will tally the results later. WOW!!!!!!!!!!!!!!!!!!!!!
  • #90
  • May 21, 2009 4:02am May 21, 2009 4:02am
I put EA buy on aud/cad, usd/jpy and usd/chf. Closed my eur/gbp wow did that one move too over 130.
  • #91
  • May 21, 2009 6:02am May 21, 2009 6:02am
Quoting 137
hey Bob thanks for the killer system

what do you think about GBPJPY right now. it looks like it could drop...
I am all out of the GBP trades, they all retraced and hit my TS. So now that you mentioned it I went ahead and turned on the EAs again to see what would happen. My results for the week are this +2054 gained, -1165 lost for 889 pips. However, two losses that I closed this morning, GBP/CHF and GBP/USD were the first entrance trades I had talked about. They were total 889 pips. If I had hung on to them that would have knocked 250 for each one or 500 pips, but I did not play it that way. Anyway, I am happy with the results so far. Even though those were the two biggest losses they also were my smallest lot numbers, so I still made a nice profit on those two currencies. I cant decide if I should report pips per trade or break it down to single lots. In other words should I report them as .01 is -100 or +100 and .02 as +200 or -200 on a 100 pip move. I dont now which one reflects the better knowledge of what is happening. The only real accurate measure I think is not pips but increase of account. That is at 12% for the week, which is very good for me. In fact that is very high. So how to report results is sometimes questionable.

Anyway I see my poll numbers show half of the people think this system is rotten but how could you say that after 3 days. I mean I love the results. Oh well, we will see over time. Some people really got hung up on the MACD moving but that is not a real problem with a 4H chart in my opinion especially with reentries being 200 pips apart and being able to read that white line.
  • #92
  • May 21, 2009 2:36pm May 21, 2009 2:36pm
Quoting nanningbob
I put EA buy on aud/cad, usd/jpy and usd/chf. Closed my eur/gbp wow did that one move too over 130.
can i ask why you put the EA on for those currencies? the MACD doesn't seem to be in oversold if i understsnd the system correctly..

congrats on the results btw!
change the future, not the past
  • #93
  • May 21, 2009 2:37pm May 21, 2009 2:37pm
what about GBPUSD? is there a sell signal for this pair right now?
change the future, not the past
  • #94
  • May 21, 2009 6:31pm May 21, 2009 6:31pm
Quoting 137
what about GBPUSD? is there a sell signal for this pair right now?
If a currency has been giving a signal and it drops in price and then goes back to its original point, for instance like a double top or head/shoulder movement. I will go ahead and replay it even though the actual signal may not be there. It is basically the same trade all over again but it is going into its reversal pattern or there is a battle between the bears and the bulls. Price dropped 250+ points on all the gbp pairs so I will play them again. GBP/NZD has dropped for a nice profit already but the gbp/usd continues to go up. Interesting Dr. Jekyl and Mr. Hyde going on here.
  • #95
  • Edited 7:59pm May 21, 2009 7:28pm | Edited 7:59pm
Quoting 137
what about GBPUSD? is there a sell signal for this pair right now?
yes.
  • #96
  • May 21, 2009 8:02pm May 21, 2009 8:02pm
I think I just learned something new about Forex trading. I see today many of the European banks are on holiday which means a long weekend. I think many traders closed their positions on currencies that were moving strongly yesterday so they wouldnt be caught off guard with the long weekend. Maybe just a wild guess but that seems logical to me. Still amazed at that sudden strong GBP moves yesterday.
  • #97
  • May 21, 2009 9:05pm May 21, 2009 9:05pm
Quoting nanningbob
I think I just learned something new about Forex trading. I see today many of the European banks are on holiday which means a long weekend. I think many traders closed their positions on currencies that were moving strongly yesterday so they wouldnt be caught off guard with the long weekend. Maybe just a wild guess but that seems logical to me. Still amazed at that sudden strong GBP moves yesterday.
Hi Nanningbob,

Nice system! Congrats on your success so far.

I think the strong GBP moves were possibly a result of the Retail Sales m/m news that came out early this morning? I was in a GBP/JPY long trade (using a different system) and just before 3:30 AM CST the pair started plummeting. In trying to figure out why I checked the FF news page and saw the red flag sign on this particular news event. So I am assuming it had something to do with that? Anyway... I waited the down move out moving my stop several times until the pair retraced and got all of the loss back.

I am going to study your system a little further. Keep up the good work!

adsanders
  • #98
  • May 22, 2009 12:34am May 22, 2009 12:34am
Hi Nanningbob


Looks like you got a really good simple system going here, have been watching it all week & will continue to do so, thanks.


See extract below for explanation of yesterdays moves in GDP -



May 21 (Bloomberg) -- The pound dropped against every major currency after Standard and Poor’s signaled Britain may lose its top credit rating for the first time as the government’s finances deteriorate amid the economic slump.
The U.K. currency had its biggest decline in a week versus the dollar and dropped the most in two weeks against the euro after S&P lowered the outlook on the U.K.’s AAA rating to “negative” from “stable.” The dollar traded near an two- month low against the yen amid speculation the U.S. Federal Reserve will print more cash to boost purchases of assets to counter the global slump. The euro rose to a four-month high against the dollar after a European manufacturing and services survey beat economists’ forecasts.



Full article on Bloomberg


Thanks again
Wise men say only fools rush in ...
  • #99
  • May 22, 2009 12:43am May 22, 2009 12:43am
Arnyboy and Adsanders thanks for the input. Thought I had discovered something but Oh well. Just one of those wild guesses. Actually I wish FF published news like that. I dont know if those announcement, credit ratings, are planned or they come out of the blue. I was lucky this time. I got clobbered when they downgraded NZD several months ago but I find nowhere where that info. is known in advance. Is that possible or is that news dropped like a bomb out of nowhere???
  • #100
  • May 22, 2009 12:49am May 22, 2009 12:49am
My pre Euro positions, here are some primary trades and potential arriving primary trades. Pick and choose which ones you like best. I am also including the support and resistance indicator if you wish to enter. Sometimes they bounce off and give you an entrance or they break for one last long run before the turnaround or retrace. Cant predict those, I just know that is where the action will probably happen.

Ok looks like it is Eur and USD currency time for Primary trades. Some are there and have been for a couple of days and some are almost there. I have shown the aud/nzd as an almost. Eur/aud, Eur/Chf, Eur/USD. The GBP/USD and USD/CHF worries me some because it is sitting on top/below a previous resistance/support lines. Old resistance lines make good support and visa versa so it could shoot up/down from there. If your in several levels like I am if it breaks north/south you may just want to get out instead of playing it.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: aud nzd pr.gif Size: 20 KB
Click to Enlarge Name: eur aud pr.gif Size: 19 KB
Click to Enlarge Name: eur chf pr.gif Size: 18 KB
Click to Enlarge Name: eur usd pr.gif Size: 18 KB
Click to Enlarge Name: gbp usd pr.gif Size: 17 KB
Click to Enlarge Name: usd chf pr.gif Size: 19 KB
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