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Nanningbob 60x90 EA

  • #2,401
  • Aug 23, 2009 9:51pm Aug 23, 2009 9:51pm
Iamthat,

I think I found the EA for setting pending orders, and figured out how to modify it to meet my limitations with my broker. I also, modified, the levels, tp, and steps, to mimick the 180x100 EA.

Just a couple of questions,

After attaching it to a chart, it set a pending order immediately, 50 pips below the current price.

Is this supposed to happen? I thought it was supposed to set it depending on the MA. Also, I do not see the MA, is that supposed to be set seperately on the chart?

If so, actually what I am looking for is the pending to be set once the price is 80 pips away from the MA, it would set the 50 pip pending. Same as the level 2 and 3 trades, except they would be set once price is 210 pips past the previous level, but set at the 180 pip difference.

Also, what is the spread setting in the EA for?

Thanks in advance

Robert
  • #2,402
  • Aug 23, 2009 10:09pm Aug 23, 2009 10:09pm
Quoting Peanutdude
Iamthat,

I think I found the EA for setting pending orders, and figured out how to modify it to meet my limitations with my broker. I also, modified, the levels, tp, and steps, to mimick the 180x100 EA.

Just a couple of questions,

After attaching it to a chart, it set a pending order immediately, 50 pips below the current price.

Is this supposed to happen? I thought it was supposed to set it depending on the MA....
I can answer one of your questions, you have to set your template up to match what the EA is doing. If I think this is what you are trying to do: This is a 40MA on a 4H chart. The pink line is 50/-50 from the MA and the dash pink is 80/-80. So if I understand you correctly when price hits the 80 lines, it sets a pending order at the 50 lines so when price retraces that is when the order is set.

Or is it suppose to set a pending order at the 80 line when it hits the 50 line, which makes no sense since you are just setting a 80 line order. Anyway here is a pic of what I think you are saying. Am I thinking correctly on this matter??
Attached Image (click to enlarge)
Click to Enlarge Name: eur jpy.gif Size: 11 KB
  • #2,403
  • Aug 23, 2009 10:19pm Aug 23, 2009 10:19pm
Quoting nanningbob
I can answer one of your questions, you have to set your template up to match what the EA is doing. If I think this is what you are trying to do: This is a 40MA on a 4H chart. The pink line is 50/-50 from the MA and the dash pink is 80/-80. So if I understand you correctly when price hits the 80 lines, it sets a pending order at the 50 lines so when price retraces that is when the order is set.

Or is it suppose to set a pending order at the 80 line when it hits the 50 line, which makes no sense since you are just setting a 80 line order. Anyway...

The picture is correct, that is what I am trying to say. When price reaches 80 +/- it sets the pending at 50, so the pending gets triggered with the price going in the right direction.

This should also, lower the DD, because if the price doesn't retrace, then the trade does not get triggered, thus skipping a level. It should still set the 2nd and 3rd level pendings, based on the 1st pending order, but only after passing the entry point by 30 pips.
  • #2,404
  • Aug 23, 2009 10:22pm Aug 23, 2009 10:22pm
Quoting kof91
There is a couple of reason why this is a separate EA.
Each trades is different on each currencies. A separate EA allows us to make the decision to rescue or not. As well as applying the EA across multiple system from Bob or even your own manual trading. The concept is more of a universal rescue system.
Just remember if you use separate EAs on a trade you must make sure the Magic numbers are the same or the EA will not control the trade. So make sure the rescue EA magic number is the same as the EAs magic number or it wont work. But yes you make a good observation. Each trade has its own dynamics, sometimes you know what fundamental or news is driving a trade and you know that trying to rescue it is very risky so just take the loss and go on. Other times you see a major S/R line coming up and you think it is worth your while to play that line or the one above and below and go for the rescue.

For example right now price ranges during the summer and things are going very well with these EAs. So you can very safely use the EA and rescue systems. However, this fall if the govt. decides the economy is recovering and now inflation is becoming a concern. The govt. will raise interest rates by a point or two to slow down inflation pressure and you find yourself on the wrong side of the market move. In this case, just take the loss, step out of the market for a day or two and come back when things have settled. That would be better advice. NO EA CAN DO SIMPLE SOUND TRADING TACTICS. If price action is going to go outside the range of an EA it is just better to sit out. That is why all these EA claims being sold are bogus, an EA cannot think its way out of a fast moving or very dynamic market. If you can really understand this principle, you can successfully trade the FOREX. If not you will be going along, making money here and there and all of a sudden WHAM, you get killed. It took me years to finally understand this. There simply are times when indicators are just useless and the market is going to do what it is going to do. You all know by now I really watch those interest rate changes, when I have lost money in big chunks that is where I have gotten killed.
  • #2,405
  • Aug 23, 2009 10:23pm Aug 23, 2009 10:23pm
Quoting Peanutdude
The picture is correct, that is what I am trying to say. When price reaches 80 +/- it sets the pending at 50, so the pending gets triggered with the price going in the right direction.

This should also, lower the DD, because if the price doesn't retrace, then the trade does not get triggered, thus skipping a level. It should still set the 2nd and 3rd level pendings, based on the 1st pending order, but only after passing the entry point by 30 pips.
Good I thought that is what you guys are trying to do.
  • #2,406
  • Aug 23, 2009 11:36pm Aug 23, 2009 11:36pm
  •  kof91
  • | Joined Apr 2009 | Status: You only lose what you cling to. | 13 Posts
Quoting nanningbob
Just remember if you use separate EAs on a trade you must make sure the Magic numbers are the same or the EA will not control the trade. So make sure the rescue EA magic number is the same as the EAs magic number or it wont work. But yes you make a good observation. Each trade has its own dynamics, sometimes you know what fundamental or news is driving a trade and you know that trying to rescue it is very risky so just take the loss and go on. Other times you see a major S/R line coming up and you think it is worth your while to play that line or...
Agreed. Unfortunately I had to learn the hard way getting couple of hits for rescuing trades blindly. It is best to check up on fundamental news and indicators before deciding to apply rescue EA. Knowledge on how a specific currency pair "normal" behaviour will be an added advantage. This will signal that the currency is not behaving (likely due to string fundamental news) and its time to take the losses. It is okay to take small losses and watch out for interest rate news. There is no system that is perfect. A profitable system needs to be applied at right market condition to perform optimally. That is the role of the trader to decide.

On the side note, 242 Rescue EA can work with or without magic number, just change the IgnoreMagicNumber to false if you decide to manage specific magicnumber. Otherwise the EA will manage all trades on the attached currency pair.

Big thanks to Bob for sharing your trading systems, ideas and experiences. Certainly helped me in many ways since I started trading.
  • #2,407
  • Edited Aug 24, 2009 12:45am Aug 23, 2009 11:50pm | Edited Aug 24, 2009 12:45am
I have here 4 months of results for the 180x100 April 5 to now. Remember I did little trading in July however. I am using the trade analyzer that is provided by IBFX. All these are live trades trading .01 .02 or .03 per trade, no demo information here. I was surprised by some of the results but here is the information.
First the very good, these pairs came out the best and made the most money and were the highest percentage winners.

eur/aud, eur/gbp, eur/cad, eur/jpy, eur/usd, eur/nzd, gbp/chf, gbp/jpy, usd/jpy

Second these pairs made money but were not outstanding:
aud/cad, aud/chf, aud/nzd, eur/chf usd/sgd

These pairs basically broke even, they either won very little or lost a little
aud/jpy, aud/usd, chf/jpy, gbp/nzd

These pairs were losers and to me there were two surprises:

gbp/usd and usd/chf I was surprised by these but both had a bad runs during this time period. I do not plan on taking them off my trading though.

These did very bad and I am not surprised. I have always had trouble with the commidity currencies and they do not seem to fit this trading strategy very well:
nzd/chf nzd/usd nzd/jpy usd/cad

I will no longer recommend using these last 4 with my systems. They have always given me fits and I am going to discontinue using them in my testing. So my decision on these is not just from the last 4 months but from my experience of having trouble with them before in the past, especially the USD/CAD. Sorry Canadian friends but take heart the eur/cad and aud/cad did well. I also am dumping the gbp/nzd as just too risky. I have not been able to keep that one under control. It seems like I am always taking that pair and trying to break even with it and basically that is what my results show. I simply have not been able to ever make these winners over the long haul.
The gbp/usd and usd/chf I will continue testing and use however.

I hope you find this information helpful.
  • #2,408
  • Aug 23, 2009 11:56pm Aug 23, 2009 11:56pm
Quoting kof91
Agreed. Unfortunately I had to learn the hard way getting couple of hits for rescuing trades blindly. It is best to check up on fundamental news and indicators before deciding to apply rescue EA. Knowledge on how a specific currency pair "normal" behaviour will be an added advantage. This will signal that the currency is not behaving (likely due to string fundamental news) and its time to take the losses. It is okay to take small losses and watch out for interest rate news. There is no system that is perfect. A profitable system needs to be applied...
OK good info on the rescue EA, did not know it would do that if you set it at false. Thanks, even I learn stuff.
  • #2,409
  • Aug 24, 2009 12:20am Aug 24, 2009 12:20am
Quoting nanningbob
I hope you find this information helpful.
Very very helpful, saves us a lot of work.
GBPUSD result is surprising but with USDCHF, CHF is the culprit always.
Thank you Bob.
"Put all your efforts in becoming effortless"
  • #2,410
  • Aug 24, 2009 2:42am Aug 24, 2009 2:42am
Quoting nanningbob
Thanks, did you modify the 60x90 to do that or it is doing that from the downloaded one?? I mean that will work for now during the summer slowdown but once price action gets moving again this fall the 60x90 doesnt have enough range to trade without the 90 pips trading on either side of a MA.
Hi Bob, im using the EA from Help regarding NanningBob Ea thread.

http://www.forexfactory.com/showthread.php?t=150514

i'd modify the TP 180 and pips 100, SL 700, lots .02 , risk 20%.
and also running it on 60x90.TP 65 and pips 90, SL 360, lots .01 , risk 10%.
but it still opens trades (long) when the TP is hit say 3L short?
cheers
daz
Attached File(s)
File Type: mq4 NanningBobV1.9_180x100.mq4   23 KB | 330 downloads
  • #2,411
  • Edited 7:16am Aug 24, 2009 5:10am | Edited 7:16am
Quoting nanningbob
These did very bad and I am not surprised. I have always had trouble with the commidity currencies and they do not seem to fit this trading strategy very well:
nzd/chf nzd/usd nzd/jpy usd/cad

I will no longer recommend using these last 4 with my systems. They have always given me fits and I am going to discontinue using them in my testing. So my decision on these is not just from the last 4 months but from my experience of having trouble with them before in the past, especially the USD/CAD. Sorry Canadian friends but take heart the eur/cad and...
Thanks Bob, if u ain't testing them anymore either am I.

Bob, if you were to play 4 to 6 pairs with a dime account which ones would they be? How much would you fund it with? Which of your ea's and would you change the ea for summer/winter? Maybe allow mm and see what happens? I've been reading all the positive results but don't know which ea or how they changed things on most of them. Maybe if you could take some of the regulars here and have them test different ideas we could all stay focused. I've been testing on 23 pairs with a dime account, even though it's been winning I know the perfect storm is out there. My reality check says 4 to 6 pairs and listen to what u have to say.
  • #2,412
  • Aug 24, 2009 7:15am Aug 24, 2009 7:15am
Quoting IamTHAT
qz, You can indeed call me I !(all are same behind this I )
well, I understand this problem with opening lotsizes of market orders. I can change the first pending order lotsize to remain same till it becomes a market order but when first order itself becomes a market order and some pending orders in-between, then it is difficult for me to do the the programming aspect. I am doing trial and error and will come up with something.
Ideal way is caculate lotsizes only for market orders and ignore pending orders. I have roughly have an idea. If that can...
I, are you still think along these lines? I think that "change the first pending order lot size to remain same till it becomes a market order" is a great idea.
  • #2,413
  • Edited 8:06am Aug 24, 2009 7:56am | Edited 8:06am
Quoting qz10cq
Thanks Bob, if u ain't testing them anymore either am I.

Bob, if you were to play 4 to 6 pairs with a dime account which ones would they be? How much would you fund it with? Which of your ea's and would you change the ea for summer/winter? Maybe allow mm and see what happens? I've been reading all the positive results but don't know which ea or how they changed things on most of them. Maybe if you could take some of the regulars here and have them test different ideas we could all stay focused. I've been testing on 23 pairs with a dime account,...
I would go with 2 slow 3 mediums and 1 risky

slow group choose 2
aud/cad, aud/chf, aud/nzd, eur/chf usd/sgd I would go with the aud/nzd and aud/cad or aud/chf

Medium any 3: eur/aud, eur/gbp, eur/cad, eur/jpy, eur/usd, eur/nzd, gbp/chf, gbp/jpy, usd/jpy, gbp/usd

USD/JPY, EUR/USD or GBP/USD, EUR/JPY

and one higher risk choose one gbp/chf, gbp/jpy, eur/nzd All three have strong points and weak points. My favorite is the eur/nzd but has the highest spread. GBP/JPY is nice if you can keep it in range and GBP/CHF if it doesnt go on a long trend.

That would give me good coverage 2 aud 1 cad 1 chf 2 eur 2 usd 2 jpy then one high risk pair which would add gbp or nzd and another eur. lets see, the deepest I have ever gone on a .02 account is around 100 in the hole on 23 pairs so x 5 gives me .10 and 500 deepest in the hole. So 2000 on 4-6 pairs should give you plenty of room so you can use recovery systems. You probably could get by on a 1000 but I was planning .05 with a 1000 and around 8-10 pairs. Now I use 400:1 margin but even at 100:1 I think you could easily get by on 2000. Try it on a demo and see how that works first. If you could get 10-20% a month that would be a dynamite investment. The key is diversity so if one currency is running crazy and you have to sit on it for a week or more the others can still make you money. For example, I was doing a demo with 5000 usd and one currency went almost 2000 in the hole. But during the 2 weeks I was trying to dig that one out the other currencies made 2500. So I increased the account 500 bucks during that time even though I had a disaster trade going. So diversity is key and having enough margin to play with a bad trade and see if you can get it to break even. The biggest problem I have faced is running out of margin just before the turnaround or retracement. So be as conservative as possible and let the account build some, then reward yourself and try to get your original 2000 out as quick as possible.

My favorite EA right now is the 180x100 on a 4H chart but the 40MA BB shows real good promise in keeping DD low. Not as many trades but a much lower DD than the 180x100.
  • #2,414
  • Aug 24, 2009 8:33am Aug 24, 2009 8:33am
Good to see you still plugging away!!!! I got Blown out a few months Back but I am thinking of hooking up the 180X100 for a month on a demo and see how it goes...

Thanks for all your time!
  • #2,415
  • Aug 24, 2009 9:46am Aug 24, 2009 9:46am
My favorite EA right now is the 180x100 on a 4H chart but the 40MA BB shows real good promise in keeping DD low. Not as many trades but a much lower DD than the 180x100.[/quote]

Hi Bob,


Please, I would like to hear from you comments about my statement on page 160. Do you think the good results of 1H NanningBob 40MA 200 BB last month is because we are in summer time? I am testing the 1H and 4H NanningBob 40MA 200 BB for a month now and I feel that the advantages are: more pips coverage, we can use L4 with profits and lower DD with a average of 4 trades a day. But if I get in trouble with a pair can I use the 242 rescue from 180x100 EA?

Thanks
  • #2,416
  • Aug 24, 2009 5:27pm Aug 24, 2009 5:27pm
Quoting scali
My favorite EA right now is the 180x100 on a 4H chart but the 40MA BB shows real good promise in keeping DD low. Not as many trades but a much lower DD than the 180x100.
Hi Bob,


Please, I would like to hear from you comments about my statement on page 160. Do you think the good results of 1H NanningBob 40MA 200 BB last month is because we are in summer time? I am testing the 1H and 4H NanningBob 40MA 200 BB for a month now and I feel that the advantages are: more pips coverage, we can use L4 with profits and lower DD with a average of 4 trades a day. But if I get in trouble with a pair can I use the 242 rescue from 180x100 EA?

Thanks[/quote]

Yes they are good results and help us in our decision making with this new formula. Remember, this is the first time I have posted an EA based on BB rather than fixed lines above and below the EA. The theory behind it as price becomes more volatile, the BB bands will expand with price action and you will need fewer adjustments over time. We really wont know for sure until we get to a more volatile period of price action. So we demo and wait.

Whenever the markets are ranging these EAs do their best. They can also handle trends to a point. The biggest problem areas are major fundamental changes (like interest rate changes) and long drawn out trends that last for days or weeks without a retracement. They actually can happen at any time.

I prefer 4H trading over other TF. IT is just the way I am wired. I think I get my best results that way seeing what price has been doing over the last 4 weeks. I like that visual of my S/R on the 4H TF. They have a tendency to hold better than the ones on a 1H chart and if they are broken I know price will run for a while. So I am a 4H trader. You may understand and trade the 1H much better than I can. Trading all the currencies I think helps you get a better feel for the market. If all the gbp are going in one direction, you know you have strong fundamentals at play. If two are going up and two are going down you know you have a much better chance they are ranging right now.

The 2,4,2 system I think can be used with any trading system. Instead of playing stop losses I play the 2,4,2 recovery. I use it with my other systems also. It is a rather recent development and even I am learning how to use it better. For example the 2,4,2 calls for a reentry every 200 pips however on a slower currency you may enter at a S/R line at the 150 away from last entrance, or with the the gbp/nzd the S/R maybe 280 pips away so you wait for that spot to reeenter. I am learning this also.

DD (draw down) will always be a part of a multiple level trading system. You cannot get away from it mainly because you keep taking out your winning trades for profit and let your losing trades run until you take them for profit or zero them out. I accept DD as part of trading with my system so it does not bother me. I limit DD with the 2,4,2 recovery or there is a certain level of DD I accept and then I get rid of it. I add a 4th level and then drop the first so I limit my DD to 3 levels MAX on any currency.
  • #2,417
  • Aug 24, 2009 5:51pm Aug 24, 2009 5:51pm
Quoting Jimbop
Good to see you still plugging away!!!! I got Blown out a few months Back but I am thinking of hooking up the 180X100 for a month on a demo and see how it goes...

Thanks for all your time!
The biggest discovery I think is learning the 2,4,2 recovery system. I limit myself to 3 levels deep and that is it now. This way I dont blow out any accounts any more. It is a definite system of, this is where I am going to take a loss and this is the amount I am willing to lose. The math goes like this on the 180x100. level 1 enter .01, level 2 reenter .02 level 1 is -180, level 3 .04 level 1 is -360, level 2 is -180. If I go to level 4 level one is -540 or 5.40 loss and I close at that point, level 2 is at -360 or -7.20 and level 3 is at -180 or -7.20. So 20 is the max negative I want to carry on any one currency trade. I take that loss at level 1 and have 3 levels left. At this point I trade any retracement back to 0 or as close as I can get and take a loss. So at the 4th level I go back to a .02 trade. If it retraces 180 pips back the level 4 and level 2 trades wash each other out and the level 3 trade is back to 0. Without figuring in your spreads your total loss on that trade will be the 5.40 you took closing out the level 1 trade. ON the other hand if price continues to go against you to level 5, you would reenter there at .04 and then close the level 2 as a 10.80 loss.

The reason I like this is you now have a definite plan of where you will take your losses, how much and at what point you will do this. You can also figure out how much money you should risk and lot sizes to keep you in this range. Using this formula you can trade 3 currencies at a .01 for evey 100 dollars you have in the account. You could stay within your margin up to 5 levels. Obviously you dont want to play that tight but you have figures now on your range, wins and losses. Trying to 0 out a trade rather than martingaling with added levels and more money will keep you out of trouble and wiping out your account. Since I have started this recovery system I have not endangered any of my accounts. 20 bucks per penny trade is as deep as I want to carry a currency. Of course that is assuming you are playing 1.00 a lot.

To the guy who wanted to know 4-6 currencies at .10 the max if all 6 went the max deficit would put you at 800-1200 max commitment. With the 2.4.2 system that would be the max you would ever commit. I have never seen that happen but that would give you an idea. Before this we would continue entering and endangering the account. Now we reach a max commitment and then we take a loss (level 1) and try to 0 out the rest.

My experience so far has been while I zero out 1 or 2 trades the others are still making profit so I will sometimes use their profit to 0 out the trade for the day. So lets say currency 1 goes to the max and I take my 5.40 loss. 3 other currencies make 3.00 profit and I have retraced to -3.00 in the hole on the negative trade, I then can close out and have a 0 day. Much better than the losing days we sometimes encurred in the past. So learn the 2,4,2 system and I think you will do much better this time.

Clear as mud huh.
  • #2,418
  • Aug 24, 2009 7:57pm Aug 24, 2009 7:57pm
I don't know how to put these indicators into my MT4?Where can I find the introduction ?

4H 20ma 50x180x100 3L.ex4
4H 20ma 50x180x100 3L.mq4
4h 20x180x100 .04.tpl

20x180x100 Profile(4h 20x180x100 .04.tpl chart01.chr...chart19.chr order.wnd)

All above ,which folder shold I put them in ?
  • #2,419
  • Aug 24, 2009 9:38pm Aug 24, 2009 9:38pm
Quoting onmyself
I don't know how to put these indicators into my MT4?Where can I find the introduction ?

4H 20ma 50x180x100 3L.ex4
4H 20ma 50x180x100 3L.mq4
4h 20x180x100 .04.tpl

20x180x100 Profile(4h 20x180x100 .04.tpl chart01.chr...chart19.chr order.wnd)

All above ,which folder shold I put them in ?
The directions are in the 60x90 folder, just replace them with the 180x100 EA, profile, and templates
  • #2,420
  • Aug 25, 2009 1:42am Aug 25, 2009 1:42am
Quoting IamTHAT
qz, You can indeed call me I !(all are same behind this I )
well, I understand this problem with opening lotsizes of market orders. I can change the first pending order lotsize to remain same till it becomes a market order but when first order itself becomes a market order and some pending orders in-between, then it is difficult for me to do the the programming aspect. I am doing trial and error and will come up with something.
Ideal way is caculate lotsizes only for market orders and ignore pending orders. I have roughly have an idea. If that can...

What I do, if the pending order is getting farther and farther away from the actual price, I just delete the pending order, and the EA just reopens another pending order, closer to the current price. I usually do this every 4 hours, unless sleeping, of course.

If you already have an open trade, and the pending is still there, and it is about to go to the next level or already has gone to the next level. You should still be able to delete any pending orders not picked up, but BEFORE DOING THAT MAKE SURE YOU TURN THE EA OFF FOR THE PAIR YOU WISH TO DELETE THE PENDING ORDERS ON, and thus skipping a level or two, and the EA once turned back on after deleting the pending orders, should start from the next level available. Not for sure about this part, so need to test it on a demo 1st to see for sure.
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