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Nanningbob 60x90 EA

  • #2,301
  • Aug 3, 2009 12:23am Aug 3, 2009 12:23am
Quoting der stratege
Hello Traders,

if you find this helpfull i'll try to update the matrix every weekend. you can download them here at sunday, print and hang on next to your desk.

regards

der stratege

I will be glad to have it. It should be very helpful for me.
"Put all your efforts in becoming effortless"
  • #2,302
  • Edited 2:57pm Aug 3, 2009 2:28pm | Edited 2:57pm
Are there any set files for the pairs for the 180x100 EA?
  • #2,303
  • Aug 3, 2009 3:13pm Aug 3, 2009 3:13pm
I sent you an email about trading forex with a retirement account. Apparently FX Solutions (you said you were looking at them) allows this.
  • #2,304
  • Aug 3, 2009 3:41pm Aug 3, 2009 3:41pm
Will someone be kind enough to post their set files on here please?
  • #2,305
  • Aug 3, 2009 9:00pm Aug 3, 2009 9:00pm
I am trying to understand the Levels and number of trades I want to risk at a time. If for instance I do not want to take more than 3 trades at a time should I change the levels to 3, is that best, or do the 2 have anything to do with each other?

Gator-Trader
Gator - Trader Learning and Earning
  • #2,306
  • Aug 4, 2009 5:20am Aug 4, 2009 5:20am
guys.. i am backtesting the various pairs on the suggested timeframes on default settings and mostly this EA is not making much money. I am using the 5D version on my 5 digit account. Can anyone suggest anything? I could do with some set files, to be honest.

Your help is appreciated. Thanks in advance.
  • #2,307
  • Aug 4, 2009 8:51am Aug 4, 2009 8:51am
Quoting Viv108
guys.. i am backtesting the various pairs on the suggested timeframes on default settings and mostly this EA is not making much money. I am using the 5D version on my 5 digit account. Can anyone suggest anything? I could do with some set files, to be honest.

Your help is appreciated. Thanks in advance.
If you are talking about backtesting on the MT4 the results are erroneaus. The MT4 backtester is very inaccurate and it does not filter out the human element, the changing spreads, weekend gaps, we dont trade the big news stories, etc. so the information is worthless. All a backtester does is let you know the EA works and gives you a basic idea on how it functions but the results are not real world. Anyone who has bought a junk EA over the internet knows the difference between real results and the fantastic published results used in advertising. The MT4 backtester is very unreliable. We have had this discussion before in other threads.
  • #2,308
  • Aug 4, 2009 9:05am Aug 4, 2009 9:05am
Quoting Toothman
I sent you an email about trading forex with a retirement account. Apparently FX Solutions (you said you were looking at them) allows this.
Yes I have contacted some of the recommended companies and dont know yet what I will do. I know my bank IRA has taken a big hit this last year and have lost almost all my gains for the last 7 years. FX solutions doesnt use MT4 here in the USA and I dont know whether I can run my IRA out of their Australian branch. I am going to wait and see how all the NFA stuff settles out. I see IBFX got fined again, I am curious to see if their solution to the NFA regs are really legal or not. Hard to figure out what their back door proprietory solution is. It sounds to me they let you trade one way on your MT4 but what goes out to the market is different. But at this point I am not sure. They are the only ones I know that are advertising a solution to the NFA problem and still stay in the USA.
  • #2,309
  • Aug 4, 2009 12:55pm Aug 4, 2009 12:55pm
Quoting nanningbob
If you are talking about backtesting on the MT4 the results are erroneaus. The MT4 backtester is very inaccurate and it does not filter out the human element, the changing spreads, weekend gaps, we dont trade the big news stories, etc. so the information is worthless. All a backtester does is let you know the EA works and gives you a basic idea on how it functions but the results are not real world. Anyone who has bought a junk EA over the internet knows the difference between real results and the fantastic published results used in advertising....
Thanks for the reply nanningbob. So do you recommend trading default settings on all the pairs? Are there specific stoploss and takeprofit you trade for these pairs? Can you share them please or guide me to where I can view them? Thanks again!
  • #2,310
  • Edited 4:17pm Aug 4, 2009 4:03pm | Edited 4:17pm
Quoting Viv108
Thanks for the reply nanningbob. So do you recommend trading default settings on all the pairs? Are there specific stoploss and takeprofit you trade for these pairs? Can you share them please or guide me to where I can view them? Thanks again!
I use the 180x100 on most pairs but not the most volatile ones. They include the gbp/jpy, gbp/cad, eur/nzd, gbp/nzd, I am demo testing a 200x200 on these. I let the EA run on the other pairs through the first two levels and then when they get to a third level entrance I make a decision to keep going or planning an escape.

The 180x100 is designed to scalp as price goes back and forth a 20 MA on a 4H chart. It enters a sell 50 pips above and abuy 50 pips below. It does not enter again until 180 pips later so that is 230 pips above and below the 20MA at the time of first entrance. the third level is 180 pips later or 410 + - of the 20MA from the first entrance point. In the vast majority of cases price will not stray beyond this range unles there are very strong fundamentals acting on a currency pair. If you know there is a strong news action on a currency pair you plan a minimum or 0 loss strategy. I explain this in my 2,4,2 strategy.

Many of the slower currencies will not make the 100 TP and I will close them at profit especially at the end of a session. So I see what is at profit at the start of each session. USA, EUR, JPY and also at the end of each session. I will either TP or manually set my SL so they dont become losing trades. For example if the 20 MA is angling up and a trade has come back to the center line or the 20 MA, I might take the profit there because I may anticipate that this was a short retracement and price is going to continue its upward trend. Many like this dont make the 100 TP. I do the same if the 20MA is angling down.

If the 20 MA is level I will let price break the 20 MA and try to get my TP on the other side or at the 100 TP. Using a sto indicator helps in this decision because that is a great indicator for a ranging market.

Many of my decisions are based on support and resistance levels. I will take my TP when it reaches one of these levels on a 4H chart. I have one included and it draws the red or blue horizontal dotteed lines on the screen at S/R areas. It is called 'support and resistance' indicator and I find it very useful rather than looking up each S/R levels for each currency pair every day.

If I am on the right side of a news story or new trend direction, I will take the 100 tp off and do a trailing stop and see if I can get more than 100 pips. So having some knowledge of different pairs and how they move affects my decisions. If you are new and dont know fundamentals of a currency pair, you can just TP at S/R levels until you do learn that part of trading.
  • #2,311
  • Aug 4, 2009 9:23pm Aug 4, 2009 9:23pm
Quoting nanningbob
Yes I have contacted some of the recommended companies and dont know yet what I will do. I know my bank IRA has taken a big hit this last year and have lost almost all my gains for the last 7 years. FX solutions doesnt use MT4 here in the USA and I dont know whether I can run my IRA out of their Australian branch. I am going to wait and see how all the NFA stuff settles out. I see IBFX got fined again, I am curious to see if their solution to the NFA regs are really legal or not. Hard to figure out what their back door proprietory solution is. It...
Bob,
It looks like a US citizen can't open an account in Australia with FX Solutions, let alone a retirement account. Look at their home page and click on Alternate Solutions. I'm going to call them tomorrow.
  • #2,312
  • Aug 5, 2009 11:48am Aug 5, 2009 11:48am
Good news. Spoke with FX Solutions today. A US. citizen can open an account with them in Australia and they do accept retirement accounts. A US citizen can't use the GTS platform in Australia. They have to use MT4 which is ok with me.
  • #2,313
  • Aug 5, 2009 11:13pm Aug 5, 2009 11:13pm
Quoting Toothman
Good news. Spoke with FX Solutions today. A US. citizen can open an account with them in Australia and they do accept retirement accounts. A US citizen can't use the GTS platform in Australia. They have to use MT4 which is ok with me.
I will look deeper at this in the fall. I leave for China TUES and then I have my 4 busiest weeks of the year opening my school. Once that settles down then I want to do something with my IRAs.
  • #2,314
  • Aug 7, 2009 5:19pm Aug 7, 2009 5:19pm
I am sitting at an airport so I thought I would drop in. Wed. is the USA interest rate story. Again I doubt they will change anything with the unexpected news of a better unemployment report Friday. All the Euro bulls will have to go hide for a while. They keep talking about the USA will have to have big inflation in the future but you cant anticipate that. It maybe a year or two before the economy recovers enough for inflation to set in. Also remember the govt can put money out they can also collect it back in (raise taxes and interest rates) thereby reducing inflation. Also, we are not the only country to flood the market with excess money. Almost every economy is playing this game in the world right now. Just some more than others. When two countries or currencies flood the market with excess currency, the exchange rate between the two will not change much even though inflation may set in on both economies. Too many Euro bulls dont seem to understand this other part of the equation. I still remember people talking about the Euro going 1.60 and higher when it crashed even though the news was all bad for the USA. They didnt realize that the news was bad in Europe also, same thing with the pound. We talk about how bad USA deficits are but I read somewhere we are approaching 14 trillion but England is above 10 Trillion. Well our economy is almost 6 times bigger than theirs. If they are surviving with that big of a budget deficit we certainly can with ours. The numbers may seem big but the percentages are not. So trade away and have fun, if you could predict the future of a currency whether you use fundamentals or indicators, you would be a billionaire. Sorry to say there simply are not that many, (if there are any). So I will stay with my theory that business deals and govt spending and traders will continue to make a currency bounce up and down within a certain range and I want to profit from that action. That is the theory behind my methods, the future is not predictable but the constant up and down flow of price is. That is the basis of my trading method. I hope you have been helped by my theories.
  • #2,315
  • Aug 9, 2009 9:52pm Aug 9, 2009 9:52pm
I opened an account with FX Solutions Australia. Is seems to be doing well. MT4 and people in the US can open an account.
http://www.fxsol.com.au/
also Forex.com UK is doing well
www.forex.com/metatraderuk/index.html


Quoting nanningbob
Yes I have contacted some of the recommended companies and dont know yet what I will do. I know my bank IRA has taken a big hit this last year and have lost almost all my gains for the last 7 years. FX solutions doesnt use MT4 here in the USA and I dont know whether I can run my IRA out of their Australian branch. I am going to wait and see how all the NFA stuff settles out. I see IBFX got fined again, I am curious to see if their solution to the NFA regs are really legal or not. Hard to figure out what their back door proprietory solution is. It...
Gator - Trader Learning and Earning
  • #2,316
  • Aug 9, 2009 9:54pm Aug 9, 2009 9:54pm
Are they any updates on the NanningBob V2.0 EA?
I think for the 4hr settings the MAPer should be 100 instead of 50. What does everyone else think it should be on a 4 hr chart?
Gator - Trader Learning and Earning
  • #2,317
  • Aug 10, 2009 12:36am Aug 10, 2009 12:36am
Quoting gator-trader
Are they any updates on the NanningBob V2.0 EA?
I think for the 4hr settings the MAPer should be 100 instead of 50. What does everyone else think it should be on a 4 hr chart?
Even you can try 20MA as used by Bob in his other thread. Right now I am experimenting with 5 EMA (High and Low MA instead of single MA). Generally lower MA suits higher TF.
"Put all your efforts in becoming effortless"
  • #2,318
  • Aug 10, 2009 8:23am Aug 10, 2009 8:23am
Quoting gator-trader
I opened an account with FX Solutions Australia. Is seems to be doing well. MT4 and people in the US can open an account.
http://www.fxsol.com.au/
also Forex.com UK is doing well
www.forex.com/metatraderuk/index.html
I also opened a demo with FX Solutions Aus. over the weekend. So far my expert adviser is functioning as it should. I plan on opening a retirement account with them if all goes well.
  • #2,319
  • Aug 11, 2009 12:07am Aug 11, 2009 12:07am
is anyone trading this live with success?
Gator - Trader Learning and Earning
  • #2,320
  • Aug 11, 2009 12:12am Aug 11, 2009 12:12am
Do you know who wrote the NanningBob 2.0 EA? Because the NanningBob did not write it, he does know know who wrote it. That is why it is hard to understand the settings.
Is the lower MA working better for you?
Do you set the ATR setting? for SL?


Quoting IamTHAT
Even you can try 20MA as used by Bob in his other thread. Right now I am experimenting with 5 EMA (High and Low MA instead of single MA). Generally lower MA suits higher TF.
Gator - Trader Learning and Earning
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