Nanningbob 60x90 EA

That move went a day and a half and was 580 pip move. It was a tough move but using the 242 system you would have taken a loss on level one but would have zeroed out the rest of the loss on Tues on the retrace on the 180x100 system. That is how I would have handled that one. Thanks for the illustration.

I will be leaving Thursday for my sons wedding so I dont expect to be around until the middle of next week. I will be in the San Francisco area for the weekend. good luck.

i RECEIVED THIS TODAY

SALT LAKE CITY— July 20, 2009—Interbank FX (IBFX.com), a worldwide provider of online foreign currency (Forex/FX) trading, announced today a solution for NFA Compliance Rule 2-43 affecting all NFA regulated Forex brokers.

Using our proprietary backoffice solutions, Interbank FX will allow our Meta Trader 4 platform to remain 100 percent compliant, while retaining order functionality and flexibility for customers trading. The MT4 platform will continue to function as our customers have experienced over the last several years. This includes the ability for customers to use fully functional Expert Advisors, Stops Losses, Take Profits, Trailing Stops and Limit Orders without making any needed adjustments.

“Certain US competitors have decided that their solution to the new FIFO rules are to move their customers overseas, rather than being compliant,” said Todd Crosland, Chairman and President of Interbank FX. “At Interbank FX, we have embraced the NFA’s efforts to help protect customers and provide a seamless solution without any changes to their current trading strategies.”

The only modification for customers will be their daily and monthly account statements, coming directly from the proprietary Interbank FX backoffice system using NFA FIFO offsetting procedures. The FIFO rule takes effect beginning July 31/August 1, 2009.

Interbank FX is currently working on a step-by-step video which will be available shortly on our web site, www.ibfx.com.

I got the notice also. Wondering how the account statement changes will make them NFA compliant.

I have finished the 4H BB version of this philosophy and want it to be tested. This is only a test version. Since I cant fullly test this method live until I get back to China in 4 weeks I wanted to give you all a chance to test this for me and report your results. The improvements are these. Since we are now using 40MA Bollinger Bands instead of the fixed 50+ or 50- on the 100x180 or the 90+ 90- of the 60x90. Each currency will determine its distance from the medium by the math formula of the BB. On the 4H chart most currencies will trade 1 or 2 times a week. On 1H chart they will trade multiple times a week but you have to deal with more runners and margin usage. The superiority over the 60x90 and the 180x100 is a higher quality trade, (MAYBE, THAT IS WHAT I AM TRYING FOR) and can be used with any currency. The superiority of the 60x90 and 100x180 is more trades.

The EA does a trade when the bid price hits the upper BB band for a sell and a buy when it hits the lower BB. Most of the time price retraces at that point and goes immediately into profit. If price runs up or down the BB outer bands, it will reenter every 200 pips. I have tested it some on a demo and they seem to work well. I HAVE NOT TESTED THESE EAs LIVE YET SO PLEASE USE CAUTION. I also only posted 4 digit systems.

What I would like is for someone to add this to the Nanningbob ver 2 EA found posted here July 11 and 13. I like how that EA was cleaned up and I would like two added features. One is a take profit when price gets to the Middle 40MA line of the BB or it can be set to TP at the opposite line of the BB. For example if price is a buy off of the bottom BB it can be set to TP at the middle line or the top line. Once we get that working then we can try 50% at middle line and the other 50% at the opposite band. I will not have time to test this so I give it to you, my friends to test. Please do not use on a live account until we know all the bugs are fixed. I think I got them. Anyway happing testing, I will post some pics and explanations in the next couple of posts. If the tests are successful and a final version is finished I will post that version on the front page. This is a 4 digit version.

Also there are two versions to test, a 1H and a 4H. The template included does not have any EA attached so you will have to drag which EA you want to test onto the screen and then save it. I have included instructions inside the folder on where each part goes in your MT4. Good luck.

Here is a pic of the 4H version. I used a pic of a slow currency usd/sgd and a volatile currency gbp/nzd. You can see how the BB bands adjust so your entrances are very solid. The BB automatically adjust to the volatility of the currency pair you are trading. I also used the 40MA instead of the standard 20 MA on the BB to get more even lines from the center. The 20 MA outer bands were too often too close and there were some margin issues. I also put yellow checks where the EA would enter the trade. Most weeks you will only get 1 trade. The 40 MA does a much better job. Anyway that is my thinking.

Here are two 1H charts using the eur/usd and the usd/jpy. You get more trades but you also will deal with more runners on the outer bands of the BB. I dont know which one works better in the long run. Obviously you will go more levels with the 1H EA. Anyways I am posting this system with far less testing than normal but you can eyeball back test this and see what you think.

Hello Mr. NanningBob,
thank you for this new Ea.
I also test the EA with the reverse system
I use 2 Charts with the same currency.
thus is at BB a short-order and a long so I earned a hedge for the first stage. one side will have tp.
I have TS pip set at 50 but the ea is not working, so what am I doing wrong?
here the reverse with EA other MM Number.

best thanks for your response and assistance
best regards
vienna

Hello Mr. NanningBob,

here a picture as I teste,
best regards
vienna

[quote=nanningbob;2891908 Anyways I am posting this system with far less testing than normal but you can eyeball back test this and see what you think.[/quote]

Bob,

Thank you for these EAs. These really look very promising and I have started testing already and give feed back later. EAs are working ok.

Few enhancements I was thinking of like using a deviation of 2.5 ( from another thread here) and also confirmation from 2-3 TFs for entry.

Very promising in all respects and I am dumping previous systems for the moment.

Thanks for the additions Bob. I'm out of computer space but I'll be testing the new ea's in the future.

I have never used the TS in this EA so I dont know if it works or not. Make sure there is not a True/False turn on for the system. I am at my sons wedding so I am not able to access the EA until next week, sorry.

Works well. Produced decent profits ($85 on a $5k dime account with around 8 pairs) during yesterdays fluctuations. So many possibilities.

We may need to have a daily TF also for CAD pairs.

I dont like CAD trading. So you may know my feelings on that from earlier posts.

Notice IBFX ads, they are going to beat up on all the companies that went overseas with their accounts. Guess I will be staying with them for now. Despite issues we all have with them I still consider them the best penny broker out there. However, if you trades dimes or bigger there are better dealers out there.

this last EA is supossed to close the order only on TP and SL?
it's a bit dificult to move 200 pips, or isn´t?

can someone tell-me what is the TS?

You take profit whenever you want. It is dependant on your read of each currency.

TS = trailing stop

Many cheers to you Bobhttp://www.forexfactory.com/images/icons/icon7.gif
Taking another look at the ea parameters,I am beginning to think it maybe possible to exit when Sto 733 reaches a particular level in whatever TF one chooses when "EXIT WITH STOCH" is enabled.It seems that aspect of the ea is yet unexplored.

Would love your thoughts on this.


Charles.

Probably he wants to know the setting for TS.
Taking profit whenever we want is something I like very much. See any pair has ripened enough and pluck it!

I tried to do some cleaning of this EA and it doesn't work. I am not able to pin point what the bug is.

Good statement. The problem with Forex trading is that it is not a cut and dry trading. Obviously taking a 200 pip profit on volatile currencies like gbp/jpy, eur/nzd, gbp/nzd, eur/jpy is not enough. Those currencies can have runs that goes into the thousands of pips. On the other hand, getting 100 pips out gbp/eur, usd/sgd, usd/nzd can be difficult at times. This last week eur/jpy didnt even move over 350 for the entire week and I have seen weeks where it moves over 400 pips in one day. Your TP, TS. SL and everything can change from day to day, week to week, month to month. It is just the nature of trading. There is no getting around the learning curve. That is why trading pennies is the best way to learn this business. It is why some of the stuff coming out of the NFA bothers me because it does hurt the small learning trader. One of my arguments for high margins is I would rather risk 250 bucks at 400:1 than 1000 dollars at 100:1 while I learn. Since both will use the same percentage of margin on a trade, the trader with 250 dollars has less at risk. Anyway I will get off my soap box. My son is getting married today and I must go. I will probably write more about what to expect from an EA and what is reasonable and unreasonable.

Hello Mr. NanningBob,

Please forgive my bad english,

Please, it is possible to program the ea:
if the rate reaches the BB trade with tp ends and a new trade begin?
short trade at the lower end tied with the beginning of the long short of the trade reaches its tp the other end of the long trade with tp at the upper band and the short-trading begins.
is that possible?
thank you very much ,
and best regards
vienna