Nanningbob 4H trading system

Hi bob,

Are you using 20 bb or 40 bb to confirm your entry setup.

Thank you

I use the standard BB (20MA) with this system. I may overlay the 40MA BB to see if it helps though. I haven't looked at it yet. My thinking on that is the 3x3 cross EA helps filter out some of the BB runs, maybe the 40MA would be a better filter. I had developed this system long before I ever tried a 40MA BB. Thanks for the idea though.

Thanks, if you only do primary trades it is a simple and fairly easy to follow. I hope you have a successful career in Forex.

Aud/nzd has entered again sitting at + 23 brought my SL to 0 and see what happens.

aud/chf came back and hit my +10 and I have reentered again.
eur/chf still running in mud at -65 will stay in for now still reads as a good buy.
USD/CAD came back and hit my +10 and then dropped like rock. Oh well cant win them all. &*^$%$&^%(^

so up +20 pips yesterday Eur/chf still in the hole

buys-- for today usd/jpy, usd/chf, nzd/chf, gbp/chf,
sells-- eur/nzd
still in
aud/chf
aud/nzd
eur/chf
happy trading, looks like a chf day

Well this eur/chf sucks -85. I will stay in for now still a buy.
aud/chf entered but came back and hit my +10
aud/nzd hit my +0
usd/jpy I never moved my SL so I am still in at+15
usd/chf I am at -40 I didnt move up to +10 or 0 so now I have a negative trade It was profitable at one point.
nzd/chf at +22
gbp/chf at -70 I was up +70 on this one but I wasnt home to move my SL to +10 so now have another negative trade
eur/nzd at +44 right now, moved my SL to +10 0n it and 0 on the other profitable trades.

The only trade I saw that was close to a primary trade is the eur/gbp. I turned the ea on that one and if price turns around I will be in that trade. Yesterday was a slow day. So I had one closing trade at +10.

I could close all trades and had a good week. If none of my trades work out today I still had a decent week. However, you will notice I really only had one good trading day. The rest was very slow. You get weeks like that.

Hi Bob,
I am papertrading the 180x200 in your footsteps. Can you elaborate on moving your SL to 0 or +10? How many pips you want to be in the green? Do you wait for 4hr candle to close or do it whenever you see profits ?

Michel

This thread is for the 4H trading system. The 180x100 is talked about in the 60x90 thread. The 4H trading system is a manual trading system except for the entrance which is done by an EA. Then you manually manage the trade after that.

It depends on how much in profit the trade is. If it is only 20-30 pips I will set it at 0 and move it up with time, if it is past 30 or 40 I will set it at +10 and let the trade run. Sometimes I will add a TS to the trade so the +10 will increase over time. To be honest I really dont have any set rules other than, dont let a trade in profit become a loser. There is nothing more discouraging than to see a trade go +70 like the gbp trade did yesterday andthen come back and then go -70 in the hole. If I had put a 30 or 40 TS on that one I would have had a minumum 30 or 40 profit trade. Most of the time I check my trades every 4-8 hours and decide what to do next. I never wait for candle close, if price is hitting a S/R line to me is the real key. Simply put do I let it ride or do I TP now? If I let it ride where do I put my TS or move my Stop to? I have this philosophy, I am always happy taking profit, you can never beat yourself up for taking a 80TP only to see price go up another 300 pips. It could just as easily gone back to -80. Once that trade gets to profit you NEVER want it to become a losing trade, that will really kill you mentally. However, even if you pocket a dozen +10 and 5 +0, you still made money and pocketed 120 pips that day, week, or month.

To manually trade the 180x100 you would have to take the EA off the screen and then manage the trade manually. What I do with the 180x100 though is I keep the EA on and will use the MT4 trailing stop. Once I am in profit I will set the trailing stop on a trade. For example I had a gbp/jpy trade go about 80+ so I set a trailing stop at 40 behind it making sure I would have a minimum 40 pip profit and then I let it run. You can do this with the EA on. I also have changed the TP on some trades because price seems to be moving rapidly and looks like it will move more than the 100TP so I will reset it to 200 with a TS. This way I try to maximize the move for profit. Most of the time though I will take profit when the white line goes to the opposite side of the Sto indicator and/or I see price has hit a support/resistance line.

I hope this answers your question, if not ask again and I will try to better understand your question.

Hey NBob, i put your stuff on test, using warning system. I use only best setups with EA entrance, however for SL i put either the other end of Bollinger band or swing high for sell trades (versa for buy trades). That dictates TP, which in most cases is bigger than i estimate its attainable. Ideal would be if i get at least 1:1 RR, I aim for 2:1 generally. With this in Mind i am interested mainly in frequency of good entries by EA, which would get good win rate with less losses.

So my main goal in testing is get a sample of hitrates, win/loss rates, win/loss sizes.

From quick over-the-shoulder estimates I reckon, that there could be many small win hits with danger being offset by some large losses.

Well, my win/loss ratio is between 65-70% on all my EAs and systems and that is this year. Most of the losses are very small. The 4H system I sometimes hit close to 80-85%. The key is really keeping those losses small and I have been able to do that this year. The 2,4,2 recovery system I developed has kept me from taking any big hits since I have been using it. So I am pleased with my trading this year. Too bad it took me 3 years to get here. I hope I can help others become profitable in a lot less time.

eur/chf -75 it just completed a double bottom so I will stay in
usd/jpy went back and hit my +0 later it went to 70+ OH well cant win them all.
usd/chf -80
nzd/chf hit my TS at +43
gbp/chf -220 entered a second level trade so it now has two trades going.
eur/nzd tp +100 when it hit a resistance line.

My total for the week is pocketed 792 pips.
I am carrying over -375 so we will see what happens with them.

Monday:
buys: aud/nzd, usd/sgd
sells: eur/gbp

Level two trade gbp/chf thinking. I drew a yellow line from a major support line from 6 weeks ago. You can see by the pink arrow where it was at. If it breaks below that support then we will have to do a hard decision on that trade. Also notice that price action from 8 weeks ago to 6 weeks ago are almost identical for the last two weeks. I am going to play that history will repeat itself. See the pic below.

The second pic is the eur/chf double bottom. I will try to manually enter a second buy trade near there to help recover on this particular trade.

Sorry late this morning Eur/chf has moved up to new level of S/R so hopefully we can get back to 0 on this one. -55 at this point.
gbp/chf has hit the major support line and looking for it to bounce back up now. -255 at this point but have 2 levels.
aud/nzd is at -18, it entered and came back down.
usd/sgd I took profit at +62, white line is at 100 and it is at resistance.
eur/gbp entered and is at -42
usd/chf -40, looks like mud to me so I just took the loss at -40.

New trades for today.

buy usd/cad
sell usd/nzd

maybe gbp/nzd ???

EUR/CHF -54 and going nowhere and sitting in the mud
gbp/chf going nowhere -255
eur/gbp now at -60
nzd/usd +7 still looks like a nice trade.
USD/CAD is at +80 I will bring my SL to +50 add a TS of +30 and let it ride

So I took no loses and made no gains 0 day.

buy gbp/nzd, gbp/jpy (is at a 5th bottom on the 4 hour chart, I dont think I have ever seen one of them before)

I almost called the EUR/CAD yesterday but didnt. It had one of the best moves of the day. Blew that one.

Happy trading, markets are slow and dull right now.

GBP/chf has moved up 100 pips so sits at - 150 on level 1 and is +80 on level 2 trade. Money wise it is a break even trade so I brought up my SL so as not to go deep in the hole again. If price contines up I will profit if it goes down Iwill close with a minimal loss.

Eur/chf moved up and I closed at -17 loss. P
Eur/gbp -100 but is a slow moving pair so I entered a 2nd level manually.
nzd/usd- closed 1/2 at +50 and brought SL to +20, will let it ride and see what happens.
USD/CAD- closed 1/2 at +200 brought SL to 160 and will let the other half ride.
aud/nzd - forgot to write about it yesterday -100 entered 2nd level.

So just like that I am out of the hole and profitable.
1/2 closes +250 riding the other half.
closed out -17 on eur/chf
sitting -100 on eur/gbp and aud/nzd entered second levels on both saw S/R levels there.
-150+80 on gbp/chf but financially break even on that one.

buys for today: USD/JPY, gbp/usd, gbp/jpy
sells Eur/Cad, eur/aud

Again as a reminder when I make a call all I am doing is turning on the 3x3 EA so it does the entering when price reverses. If price does not reverse I am not in the trade.

Happy trading

WOW a lot of currencies are just trending slowly right now. Waiting on those retracements.
eur/gbp -140 & -40 2nd level
AUD/NZD -30 1st level +70 on the second level so closed in profit +40.
USD/CAD and NZD/USD both halves hit their SL of +160 and +20. So average total on USD/CAD trade is 180 and NZD/USD +37. Why is it the trades you dont want to retrace but continue to trend dont and the ones you want to retrace dont. Dont you just love Forex trading.

gbp/chf continued its downtrend so it hit my SL I had set. Minimal money loss there. -170 +60 for -110 pip loss but financial loss was closer to -50.

USD/JPY entered at -10
GBP/USD entered +80 set my profit SL at +40 added TS 25.
GBP/JPY entered also +85 set my profit SL at +40 added TS 35.
EUR/CAD took TP +40 on retrace
Eur/AUD took 100 TP

So I am up for the day and week and have guaranteed my profit on all my trades except EUR/GBP and USD/JPY.
Sells Aud/Cad,
BUYs gbp/chf (try again )

Happy trading.

HELLO anyone out there.
I kind of feel I am talking to my self here.
Last week total pips +792
This week +419 -167 = +252
That is +1044 pips in 2 weeks and still have more to come.

How many people are calling trades before they happen and then posting the results? Interesting. The scorecard says 24 for 22 against, If 22 are against this system and most of those were posted before the 1st trade was made, where is the record of their losing trades? Oh well.

Bob, first let me say thank you for your systems. I have used all that u have posted except for this one. I have tried and tried fully automated systems and just can't rely completely on them. yes, i still use 2 of them live but don't sleep very well at night. lol i do use your 100X180 from time to time and have made a small profit with it.

I just now took the time to sit down and read the rules to this system from front to back. I have yet to read the thread - only the rules stated in 1st post.

Let me say that you have 1 very well thoughtout plan here.

After reading, I don't see a real exact science for when to let the losers go and just except the loss. I can see the tp a little easier.

without reading the entire thread and if answered in the thread already then just tell me " quit being lazy and read the thread" lol but can you please explain in more detail when you say ok, enough is enough. ill bite the bullet and take the loss? I know you use the 242 to try to stay out of trouble - correct?

I see that your other systems - all being fully automated ea's, are getting a lot more attention. I guess people are like me and just want all the trading do be done for them - Easy way out!-

It also seems that this is your preferred system even over your own fully automated ea's. Is this true?

I look forward to start testing this out next week.. I will be doing my very best at devoting my trading time to only this system. - must babysit my ea's that are trading live- but most of my time will be devoted to learning the ins and outs of this system.

I guess the easiest way to dive into this system is to only take the primary signals for a while before trying to get into the more dynamic signals.

Look forward to an interesting forward test

Again thank you for all your contributions to this forum. You have put in countless hours and I want you to know that they are whole-heatedly appreciated!!!

Justin

ill bite the bullet and take the loss? I know you use the 242 to try to stay out of trouble - correct?

It also seems that this is your preferred system even over your own fully automated ea's. Is this true?


Thanks for your comments, appreciated. People do say thank you often but I dont always respond to each one. Taking a loss is always the most critical decision in my systems. The profit making part is there but knowing when to take a loss that is the critical part. There are just so many variables, kinda hard to explain. As you probably have noticed I love the S/R indicator on the charts. I dont trade without it anymore so I carefully watch where price is fighting. As long as I see price banging off a 4 week high or low I feel really safe in that trade. For instance you saw I bailed out early on several trades this week. The most important one was the GBP/CHF. That thing has been trending down with only one major retrace for 3 weeks now. So I was really cautious with it and probably made the right decision. Why? Because I know from experience the GBP/CHF will run and run sometimes. Same with the NZD, CAD, and AUD pairs. CHF pairs will too but not as often. I guess it just comes from experience, I look at a trade and go OH OH that looks like trouble. It is why I like trading the 4H chart. I can see 4-5 weeks at a time on the screen. This system you realize you may have trouble if it enters and then reverses and goe beyond the previous high or low. I really start paying attention to a trade like that. But I slapped a 200x200 on it, so I have a lot of range. For instance the eur/gbp trade has my attention right now. It has gone over -100 but has finally broken its trendline. If it reverses again and starts trending up. I may take that one out because I dont have a lot of money invested in that trade yet. So to poorly answer your question it is a trade by trade decision. Most of the time I am wrong and I have closed early a trade that would be profitable but my overall equity goes up.

Of all my trading systems this one is the most profitable and rewarding. The average trade is 1-3 days long and DD is very low. Because I use the 4H chart I only have to watch over my trades 2 or 3 times a day. Right now I am doing this thread as once a day. That will change when price gets more volatile. Unlike my other systems where you have to trade .01-.03 with a couple of hundred bucks. I will go .05-.10 depending on the currency pair. Lower for the more volatile, higher lots for the slower ones. This is the system I trade on my big account.

If you read the thread you will see the biggest criticism is the moving MACD line. Even though that maybe perceived as a problem the moving line doesnt adjust that much until a week or two later and the trade is done by then. So it is not a false read. I have used this system and some variations of it for several years but it wasnt until I did the 3x3 cross with a BB signal did I finally solve my problem of entering too early on a trade. That was always my biggest downfall. With that problem solved, I just turn on the EA whenever I see a trade signal and dang if that thing wont wait out a run that I would not. I had one trade it waited 4 days to enter but when it did +210 pips in one day instead of entering too early, 450 pips in the hole looking for that retrace to get out with a loss. So that 3x3 is a life saver to me.



Even though in my book I talk about secondary and other trades. I really only do primary trades now. They are the simplest and take the least amount of thinking.

OK we finished the week so lets see how it went.
Eur/GBP sitting at -112 and -12. Clearly broken its swing up for now, will see how big this retrace is anther 50 pips minimum and will break even. Hoping for more. I normally reenter a slow pair at 150 not a 100. If I had done that the 2nd trade would be in profit now. Bad decision on my part. Bad BOB, bad BOB.

USD/JPY I had set my +10 and it came back to hit it.
gbp/usd came back and hit my TS at +94
gbp/jpy came back and hit my TS at +47
Aud/Cad entered and now -82 in the hole
gbp/chf entered and sitting at 0

Total pips for the week in the bank +403 carry over for next week -206.
Two week total = +1195 pips. Carrying over -206 pips into next week.

Not bad for and old geezer.

Trades for Monday.
Buys USD/JPY again

I am in GBP/CHF, AUD/CAD, EUR/GBP.

I'm saying this the nicest way possible: have u read the instuctions for the systems. At least read the first post of each thread. U will quickly learn there is a big difference