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Nanningbob 4H trading system

  • #121
  • Edited 5:20am May 25, 2009 5:05am | Edited 5:20am
I dont know where I am in telling you guys stuff but today I closed the nzd/chf after the gap went in my direction for +33. I also closed the eur/nzd for +162. Took a buy late Friday and it gapped off the bottom of the BB with white and blue on the bottom. Ended up being a nice trade.

Mid way through the eur I closed eur/cad for +43, usd/sgd for +38 on all open positions and usd/jpy +38. I missed the aud/nzd Sun. as a primary. I had taken a nzd/jpy and my sell EA entered but I closed it when it bounced off the 20MA BB. It looked too much like a trend continuation so that was a -41.

I put buy EA on aud/cad, aud/nzd, as primary and also aud/chf because I did the other two and it had blue and white on the bottom. Not a clear cut primary trade and not a clear cut range but I played it like it was. If the USD quits fading I will be very happy. Would like to see a retrace sometime today to close out some positions. Some positions have moved to profit but want a bit more.
  • #122
  • May 25, 2009 6:28am May 25, 2009 6:28am
Quoting nanningbob
. I put buy EA on aud/cad,
id be wary its jsut broken thorugh pretty obvious support area and is now hitting it as resistance...

food for thought
Grabbing the bull by the horns!
  • #123
  • May 25, 2009 6:45am May 25, 2009 6:45am
Quoting whitegoodman
id be wary its jsut broken thorugh pretty obvious support area and is now hitting it as resistance...

food for thought
Well I am not in the trade until price moves enough to set off the EA. That is the beauty of it.
  • #124
  • May 25, 2009 6:51am May 25, 2009 6:51am
Quoting nanningbob
Well I am not in the trade until price moves enough to set off the EA. That is the beauty of it.
jsut letting you know for profit targets
Grabbing the bull by the horns!
  • #125
  • May 25, 2009 8:12am May 25, 2009 8:12am
Well, it is holiday time in the USA today so nothing much is going to happen today. Enjoy watching the bouncing ball.
  • #126
  • May 25, 2009 12:07pm May 25, 2009 12:07pm
Some currencies have lost their signals and didnt go any where so I closed them plus took a couple of profits. I closed one of my open eur/usd to use later if I needed a new entrance. So a small profit for the day. Did not see any new positions to take. So off to bed.

gbp/chf -8
aud/jpy -16
eur/usd -50
eur/nzd +40
EUR/CHF +65
  • #127
  • May 26, 2009 5:06am May 26, 2009 5:06am
Currencies are finally moving in my favor, most are in some kind of profit now so will hang onto them through to noon and check then. Several I ensured my profit by setting profitable stop losses and put trailing stops on them. Closed USD/CHF for +82 and closed Aud/Cad because it looked like a trend continuation for -36. After closing the gbp/chf I reopened the position for a sell because all the other GBP are going south and this could bounce off of the BB 20MA. Since it is right there at the MA line I manually entered that trade. I manually entered it with half of what I normally trade because I consider it a higher risk trade. Hopefully after sitting on some of these trades for 4 or 5 days it is time for them to move in my direction.
  • #128
  • May 26, 2009 6:10am May 26, 2009 6:10am
the gbpchf is a strong one for short, its a trade 2 type and if you look on the daily the red and blue is near the 85... also for those with more traditional manual trading indicators see attachded chart....

confluence of trend lines... bit of horizontal resistance above, also a 'hanging man' pattern a few days back which it has failed to go above...
Attached Image (click to enlarge)
Click to Enlarge Name: gbpchf.gif Size: 19 KB
Grabbing the bull by the horns!
  • #129
  • May 26, 2009 7:13pm May 26, 2009 7:13pm
Quoting whitegoodman
the gbpchf is a strong one for short, its a trade 2 type and if you look on the daily the red and blue is near the 85... also for those with more traditional manual trading indicators see attachded chart....

confluence of trend lines... bit of horizontal resistance above, also a 'hanging man' pattern a few days back which it has failed to go above...
Thanks for the insight. So far the trade has kind of just sat there but so has almost every other trade. Very very quiet week so far unless you have USD trades and they are doing this very slow fade kind of like slow torture.
  • #130
  • May 26, 2009 7:20pm May 26, 2009 7:20pm
Closed some positions only the first levels, the pip loss may seem big but they are the lowest lot numbers. USD/CAD -480 and GBP/JPY -380 kept the other positions open and am now free to add a position at a good S/R point. AUD/NZD -4 the large pip spread caused this trade not to make any profit so I got out. Just didnt look like it was going to go anywhere.

USD/CHF primary and AUD/CHF secondary trades look like my only good trades for now. The are double bottom or double top. I also entered the Eur/Jpy as a secondary trade. OK, not much happening right now.
  • #131
  • May 26, 2009 10:37pm May 26, 2009 10:37pm
Quoting nanningbob
Closed some positions only the first levels, the pip loss may seem big but they are the lowest lot numbers. USD/CAD -480 and GBP/JPY -380 kept the other positions open and am now free to add a position at a good S/R point. AUD/NZD -4 the large pip spread caused this trade not to make any profit so I got out. Just didnt look like it was going to go anywhere.

USD/CHF primary and AUD/CHF secondary trades look like my only good trades for now. The are double bottom or double top. I also entered the Eur/Jpy as a secondary trade. OK, not much happening...
hi Bob would you mind explaining why you took the EURJPY trade? i don't think i quite understand the rules for secondary trades and i would like to incorporate them in my trading if they can help. thanks
change the future, not the past
  • #132
  • May 27, 2009 12:16pm May 27, 2009 12:16pm
Here is the pic. If blue and white are above/below 15/85 and red line is somewhat flat. You can take the trade. I also used S/R in my decision and manually traded it right at the Resistance/Support line. You can see in the second pic the same kind of trade. However, if you look two weeks earlier you could have taken a secondary trade and it go against you. The white and blue stayed glued to the bottom and you had a trade run against you. I try not to be patient with the trades when they break S/R lines. Do not do this trade if the BB MA line is steep or the red line is steep.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eur jpy sec.gif Size: 24 KB
Click to Enlarge Name: usd jpy sec.gif Size: 22 KB
  • #133
  • May 27, 2009 4:43pm May 27, 2009 4:43pm
thanks!
change the future, not the past
  • #134
  • May 27, 2009 4:53pm May 27, 2009 4:53pm
looks like there is a primary trade setup on EURGBP...
change the future, not the past
  • #135
  • May 27, 2009 7:11pm May 27, 2009 7:11pm
I see aud/cad eur/cad and eur/gbp as primaries
and gbp/nzd as secondaries

I closed some of my Eur/USD for profit, I am staying in my NZD and USD trades. The blue and white lines are moving close together showing a strong move, they could finally make a move today. Hopefully.

I closed my usd/jpy as a trend continuing, the sell I had on -20. I missed putting on my profits and SL 8 hours ago, bad move on my part. If it breaks resistance you can do a buy as a trend continuation trade. The pink arrow is where I missed my close or putting in my guaranteed win SL and TS. The yellow arrow is where I can enter if it breaks resistance.
Attached Image (click to enlarge)
Click to Enlarge Name: usd jpy tc.gif Size: 23 KB
  • #136
  • May 27, 2009 7:41pm May 27, 2009 7:41pm
I have come up with a formula that almost literally guarantees a break even on almost any trade. I hope I can explain it in a way you can understand. I will call it 242424 strategy and a variation242646. If you think in boxes of 400 pips every 200 pips I think you can understand how this works. I am only going to show this in the worst case scenario. Any other price action and you make a profit.

Trade A is entered with .20 lots and it goes 200 pips against you. You then enter .40 lots. If price reverses 70-80 pips in your favor, (depending on currency and spread) you are at break even with the trade. You go from there. If price continues to go against you another 200 pips. You reenter .20, if price goes back to the .40 entrance, 200 pips, you are at break even. This is how I got the name 2,4,2

If price goes against you, you drop the first level entrance and that is a losing trade. The 4th level now you enter .40 if price reverses back to the level .20 entrance you are back at break even again. However, if you enter .60 you also cover your first original loss. You can keep following this startegy every 200 pips until you come up with a winner or break even trade.

The 2 4 2 4 2 4 2 will give you small manageable losses until you get out of the trade with a break even. You keep your margin usage at an acceptable level at all times and never get into the death trade.

The 2 4 2 6 4 6 ............ will give you coverage up to 1000 pips (or more if you wish and have the margin) against you and still come out with an almost zero loss trade even though price went against you 1000 pips. You literally keep you losses to a minimum. To go into trades as overbought/oversold as we do and still cover ourselves up to 1000 pips afterwards is a pretty darn safe strategy. As long as you dont over margin your account with too big of lots, you can safely trade this way. You pocket your winners and zero out your losses.

The purpose of this is not the typical martingale strategy of doubling up until you win or wipe out your entire account. But this strategy will limit the loss to break even so your overall trading will be a constant increase. I only hope I explained this in a way you can understand. COOL HUH

You can also do this with the 150 but you are using 300 pip blocks instead of 400. I dont know if someone can program an EA to do this but it would be fantastic of we just turned it on and didnt have to manually put these in. Happy trading.
  • #137
  • Edited 9:08pm May 27, 2009 8:13pm | Edited 9:08pm
Quoting nanningbob
I have come up with a formula that almost literally guarantees a break even on almost any trade. I hope I can explain it in a way you can understand. I will call it 242424 strategy and a variation242646. If you think in boxes of 400 pips every 200 pips I think you can understand how this works. I am only going to show this in the worst case scenario. Any other price action and you make a profit.

Trade A is entered with .20 lots and it goes 200 pips against you. You then enter .40 lots. If price reverses 70-80 pips in your favor, (depending on...
i buy this concept. it sound brilliant.

I think someone could change the excel to reflect this strategy. IMO, the excel is just as importance as the EA. The excel help to make the plan and the EA execute the plan for u.

The risk of using such strategy could be the currency went insane and it goes out of 1000 pip. The lost will be huge. Huge as in the lost in a single currency pair cannot be recover by itself and need to depend on other currency pair to recover the lost. The problem with no loss is that a single rare event will wipe out months of profit.
  • #138
  • May 27, 2009 10:32pm May 27, 2009 10:32pm
Quoting forexisfx
i buy this concept. it sound brilliant.

I think someone could change the excel to reflect this strategy. IMO, the excel is just as importance as the EA. The excel help to make the plan and the EA execute the plan for u.

The risk of using such strategy could be the currency went insane and it goes out of 1000 pip. The lost will be huge. Huge as in the lost in a single currency pair cannot be recover by itself and need to depend on other currency pair to recover the lost. The problem with no loss is that a single rare event will wipe...
The loss only becomes huge if you are not closing out the losing trades, otherwise you are always playing 3 levels deep. To me 3 levels deep is always manageable and the losses are manageable. You can go over a 1000 pips with this if you are playing small enough lots with enough capital. Anyway that is the thought, still dealing with this eur/usd and gbp/usd trades that just wont give major retracements. If you study back history these are turning into the biggest runs without a retrace in recent history. I see the Eur/usd finally is giving way. That was almost a 7 day run. The good news is my system handle it. I may get out of the eur/usd with a profit.
  • #139
  • May 28, 2009 12:01am May 28, 2009 12:01am
only one worrying me atm is gbpjpy, 300 pips down atm, 200pips till SL... cmon japan raise interest rates or re-invent the wheel
Grabbing the bull by the horns!
  • #140
  • May 28, 2009 1:09am May 28, 2009 1:09am
Quoting whitegoodman
only one worrying me atm is gbpjpy, 300 pips down atm, 200pips till SL... cmon japan raise interest rates or re-invent the wheel
I find it funny that gbp/jpy goes up 100 and the gbp/nzd goes down 250. Way to go pound. Any I took that 150+ on the gbp/nzd. If gbp/jpy goes higher I will close one of my losing positions and reenter but there are no S/R lines anywhere nearby so this is guesswork for now until it establishes some.

Also took Aud/chf, and finished all my aud/usd that were left. USD/SGD Primary if I have told you yet. Eur/chf Primary. For the heck of it I took USD/JPY at the Resistance line manually B&W are above 85. Will put a short SL on it. Not going to play with that one for long if it breaks resistance. Hey its 5 points in my favor already and I havent even finished typing the sentence . Hung on to all my NZD and they went back to even. dang. Dont you just love the exact nature of Forex, what a science. YUCK.
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