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Nanningbob 4H trading system

  • #361
  • Sep 24, 2009 7:41pm Sep 24, 2009 7:41pm
Where is my shotgun? I would like to shoot the guy in my head that told me to keep one level of the gbp/chf. What in the world was I thinking anyway? dang, well recovery time again. Cant believe I missed the call on the AUD/CAD yesterday, was I blind??

What a great day, except for the gbp/chf!!

TAKE PROFITS
chf/jpy +72 +1 2L
eur/jpy +120 & -28 for +92
eur/nzd +66 hit my TS
nzd/chf +35
nzd/jpy +71
nzd/usd +58
usd/sgd +73 -34 total + 39
CLOSED FOR LOSS
aud/nzd -9 R,W,B line were all around the 85 line so I closed for a very minimum loss.

OPEN TRADES
eur/cad -178 1L 2L +22
eur/gbp -296 1L -44 2L
gbp/chf L1 -515 L2 -115 doesnt anyone love the poung anymore


TOTALS
total for day +425
+144 for the week
Carry over -1126

Total for the month of Sept. +1720

NEW TRADES
BUY eur/chf (still diving EA has not entered the trade yet)
buys aud/chf, aud/usd eur/usd gbp/jpy gbp/usd aud/jpy (heck trade them all today)
sells aud/nzd, eur/aud, usd/cad, usd/chf, usd/sgd

gpb/chf Buy anyone, not me already in but a strong buy signal here. Of course it has been like it for 2 weeks now. I think it really is overdue, I mean way overdue for a correction. Would really make my week and month for this one to come roaring back.

Looks like an aud, usd, gbp day. I like it when a bunch of currencies all line up overbought or oversold. Almost always, but not always, brings about an across the board reversal. So today is reversal Friday. Lets end the month with a big bang.
  • #362
  • Sep 24, 2009 10:57pm Sep 24, 2009 10:57pm
Margin usage thoughts. As I trade this system I have noticed that right now I am peaking at 1300 - 1500 pips in the hole at times. Using this figure and making sure you want to have plenty of margin to cover your trades a figure of keeping yourself at no more than 10-15% of your account being used as a max. I have come up with this formula.
one penny then would need 100 dollars
nickel trade would need 500 dollars
dime trades would need 1000 dollars and
1.00 trades would need 10,000 dollars to trade with comfort.

This would keep your account within safe distances from wipeout and still give you room for a sudden unexpected run. Once an account starts using more than 15% you then would be looking to exiting losing trades to keep you under that percentage. This sounds fairly reasonable for trading a multi-level system. Any thoughts??
  • #363
  • Sep 26, 2009 8:03am Sep 26, 2009 8:03am
Ok so it wasnt an aud, usd, gbp day. Lets see how it went though. We entered a lot of trades but basically they went nowhere so we will continue next week.
TAKE PROFITS
usd/sgd +18 hit my TS
CLOSED FOR LOSS
0
OPEN TRADES
aud/nzd 0
aud/chf -21
aud/jpy - 115
aud/usd +1
eur/aud - 19
eur/chf +1
eur/cad 1L -213 2L -21
eur/gbp -320 1L -68 2L
eur/usd 0
gbp/chf L1 -529 L2 -150 L3 -50
gbp/jpy L1 -192 L2 -12
gbp/usd - 91
usd/cad -26
usd/chf + 5

TOTALS
total for day +18
+162 for the week
Carry over -1820 (this does seem high but 3/4 of it is in the gbp trades. I have plenty of margin so I will let it ride, however, if the gbp break resistance levels I will close a couple of my first levels with them.)

Total for the month of Sept. +1738

NEW TRADES

buys
chf/jpy, eur/jpy

Other than the gbp/chf I think I am sitting very well going into next week. Almost all the currencies are sitting at overbought or oversold so something has to give. -729 on the GBP/CHF but that can recover quickly. I have figured the math and if I get a 213 pip retracement I break even on the trade financially so that is an easy move for that pair in one day. Once I get above 180 I will be looking to close out with a minimal loss. The others will take care of themselves I think. So looking forward to Monday and finishing the month with a nice profit.
  • #364
  • Sep 26, 2009 8:20am Sep 26, 2009 8:20am
Hi Bob,

Your strategy remind me of another guy, Bains who used to post on FF. Do you know this guy, Bains ?

For some reason, he and his whole team has disappear from FF and started own website.
  • #365
  • Sep 26, 2009 1:38pm Sep 26, 2009 1:38pm
NanningBob,


Can you share the strategy (buy/sell) or give a clue for pairs next week?
I monitored your system and like the idea but at this moment I only had account with FXDD with min 0.1 lot.

I had try in demo version in forex.com that allowed me with 0.01 lots with good results applying your strateg/indicator...

Thx & good day...
  • #366
  • Sep 26, 2009 5:58pm Sep 26, 2009 5:58pm
Quoting nico28
Hi Bob,

Your strategy remind me of another guy, Bains who used to post on FF. Do you know this guy, Bains ?

For some reason, he and his whole team has disappear from FF and started own website.
I have taken Peter Bains course 'Trading like the Big Dogs' but I dont think that is who you are referring to.
  • #367
  • Edited 6:26pm Sep 26, 2009 6:08pm | Edited 6:26pm
Quoting jopie
NanningBob,


Can you share the strategy (buy/sell) or give a clue for pairs next week?
I monitored your system and like the idea but at this moment I only had account with FXDD with min 0.1 lot.

I had try in demo version in forex.com that allowed me with 0.01 lots with good results applying your strateg/indicator...

Thx & good day...
I post my buy/sells every day before the jpy session. All you have to do is follow along. So many guys gave this thread a negative rating I feel I need to prove they were wrong. In fact the vast majority, and probably none of them, even tried to trade the system. Over half of the negative votes were posted before the first trade was even made. So I think their votes are basically dishonest. Like I said I have used this system for almost 3 years now and this is the final product. I think if you just do primary trades and not overmargin your account you can safely trade this profitably.

When I trade this I am using .05 on 400 dollars so if you have a 1000 or more trading .10 lots should be no probelm if that is a dime account. This system is not like my EAs in which you need lots of margin, this trading method uses much smaller margin and higher lot sizes. Most currencies will only give you 1 maybe 2 trades a week and sometimes none. So it is a very selective trading system. Basically you are trying to trade off of the high or low for the week. My study of the Forex showed me that every currency has a high or low every TF and I think the easiest to trade highs and lows is the 4H or the weekly high or low. That is the basics of this system.

Most trades you will enter and get a profit the first level. Some on the 2nd and the 3rd level on up you try to break even as best you can. Just simply playing the odds that every currency will retrace 100% of the time. That is the one absolute 100% fact I have found about the FOREX. Every currency will retrace at some point. The other key to this over my other EAs is we keep using the same lot size almost all the time. If I enter .05 1st level I will enter .05 second and .05 third level also. If it stays a level 1 trade it makes profit. If it goes two levels as long as the 2nd level retraces over 50% I make profit. If I go 3 levls the closer I get to the 2nd Level entrance the smaller my loss will be. I will increase my lot size to .08 on the 4th level so my retrace doesnt have to be as big to get to break even. I am doing that now with the gbp/chf trade so I can break even around the 200 pip retrace instead of needing 250 or more. Imagine this, the trade is over 700 pips in the hole but I only need a 200+ pip retrace to break even. Something the gbp/chf can easily do in one day. Also money wise it is not even 30 dollars in the hole, so if I have to close it out, it is by no means a killer or account killing trade. The only question is on the retrace will you make a profit or cut your losses to a minimum. So I am trading a system that is 100% guaranteed of getting a retrace. I only need to protect myself from over margin my account. Patiently waiting for the retrace or price turnaround is the key. I think it is a simple and easy formula to follow.
  • #368
  • Sep 26, 2009 7:25pm Sep 26, 2009 7:25pm
Bob. Really man u have nothing to prove. U have proven yourself and your systems time and time again. We r all grateful. Haters can just go elsewhere!!

Quoting nanningbob
I post my buy/sells every day before the jpy session. All you have to do is follow along. So many guys gave this thread a negative rating I feel I need to prove they were wrong. In fact the vast majority, and probably none of them, even tried to trade the system. Over...
  • #369
  • Sep 27, 2009 2:10am Sep 27, 2009 2:10am
Quoting nanningbob
I have taken Peter Bains course 'Trading like the Big Dogs' but I dont think that is who you are referring to.
No< i am not referring to Peter Bain. Me too, took his course. Nothing good to comment on his course.

I am referring to Brains, who start something call kanto... He avocate average down and I was deep under water since last year Aug. Anyway, its not important any more
  • #370
  • Sep 27, 2009 2:21am Sep 27, 2009 2:21am
Quoting nico28
No< i am not referring to Peter Bain. Me too, took his course. Nothing good to comment on his course.

I am referring to Brains, who start something call kanto... He avocate average down and I was deep under water since last year Aug. Anyway, its not important any more
Ha! You are referring Brijon. He still has a thread in rookies section and a trading journal. It was really good till market collapsed. Basically it was dependent on carry trade so when interest rates were good, system worked.
Even now it works only in AUD pairs according to him. System can revive once interest rates are normal again
"Put all your efforts in becoming effortless"
  • #371
  • Sep 27, 2009 2:21am Sep 27, 2009 2:21am
I quoted "If I enter .05 1st level I will enter .05 second and .05 third level also. If it stays a level 1 trade it makes profit. If it goes two levels as long as the 2nd level retraces over 50% I make profit. If I go 3 levls the closer I get to the 2nd Level entrance the smaller my loss will be. I will increase my lot size to .08 on the 4th level ............."

Just need your confirmation. So, if level 1 you enter 0.5 lot, in level 2, you will also enter 0.5 lots ? If price retrace 50% , can we alreadu make profit ?

If go to level 3, you will use 0.8 lot.... is there any formular that can calculate how many lot to increased on 3rd level onward ?

Also, another question is if we enter lever 3 with more lots then 1st & 2nd levels, aren't we taking excessive risk on a trade already ?
  • #372
  • Sep 27, 2009 2:25am Sep 27, 2009 2:25am
Quoting nico28
I quoted

If go to level 3, you will use 0.8 lot.... is there any formular that can calculate how many lot to increased on 3rd level onward ?
There is an xl spreadsheet available for optimizing lot sizes in this thread or the other thread by Bob.
"Put all your efforts in becoming effortless"
  • #373
  • Sep 27, 2009 6:39am Sep 27, 2009 6:39am
Quoting nico28
I quoted "If I enter .05 1st level I will enter .05 second and .05 third level also. If it stays a level 1 trade it makes profit. If it goes two levels as long as the 2nd level retraces over 50% I make profit. If I go 3 levls the closer I get to the 2nd Level entrance the smaller my loss will be. I will increase my lot size to .08 on the 4th level ............."

Just need your confirmation. So, if level 1 you enter 0.5 lot, in level 2, you will also enter 0.5 lots ? If price retrace 50% , can we alreadu make profit ?

If go to level 3, you...
That is what we did with the EAs 60x90 and 180x100 each level increases. In this though we take a different approach. Our idea is to catch the retracement at the top or bottm. the blue and white lines above/below the 15/85 lines are usually hit this around 70-80% of the time, with a level 1 or 2 trade. It does get tough when currencies are trending strongly like the pound is now. But with that thought we try to use one lot size so you can compute easily your margin usage and trade bigger lots. So it goes like this all 1L trades are profitable. All level 2 trades become profitable with a 50% retracement and all level 3 trades can break even at a 1/3 retracement from the original position. I think the odds of getting this in overbought and oversold situations are very high. I believe the returns are very good and the chances of happening very high. If we dont then we go to manual trading and try to zero out or minimize our loss. That is the basic philosophy of this system. If you get skillful at minimizing losses then profitability with this system I believe is very high.
  • #374
  • Sep 27, 2009 8:07pm Sep 27, 2009 8:07pm
G'day everyone,

Just wanted to share that I'm currently in the following trades right now
GBPNZD GBPUSD GPBCHF EURGBP EURCAD USDCAD AUDCAD and all of them are in drawdown. Pretty big negatives which is quite scary but still expecting them to reverse shortly according to the indicator signals!

Otherwise, I'm hoping for some guidance on how to recover from a losing trade
  • #375
  • Sep 27, 2009 10:51pm Sep 27, 2009 10:51pm
Quoting silv3r4sh
G'day everyone,

Just wanted to share that I'm currently in the following trades right now
GBPNZD GBPUSD GPBCHF EURGBP EURCAD USDCAD AUDCAD and all of them are in drawdown. Pretty big negatives which is quite scary but still expecting them to reverse shortly according to the indicator signals!

Otherwise, I'm hoping for some guidance on how to recover from a losing trade
Me too, in EU, GU, UC, EG, EJ & GY. The DD is big. All these trades are so far level 1. Like EJ, i am now -212 pip with 0.05 lots and level 2 is not trigger yet. Question is when i enter level 2, do I use the same lot 0.05 ? or have to use more lots such as 0.15 lots trying to recover ?
  • #376
  • Sep 27, 2009 11:50pm Sep 27, 2009 11:50pm
Quoting nico28
Me too, in EU, GU, UC, EG, EJ & GY. The DD is big. All these trades are so far level 1. Like EJ, i am now -212 pip with 0.05 lots and level 2 is not trigger yet. Question is when i enter level 2, do I use the same lot 0.05 ? or have to use more lots such as 0.15 lots trying to recover ?
In this system us the same lot size, a 50% retrace gets you to break even. The gaps were killers this morning but very often they retrace quickly during the day. Too many good buys to pass up for some traders. Most currencies have been trending heavily the last 2 weeks and this happens at times. If you can survive this with as few and small of losses as possible you will get a good deal of confidence in your trading skills. The only regret I am having right now is not completely closing out that one gbp/chf trade, all the rest can be dealt with.

Buys usd/jpy nzd/jpy chf/jpy
sells usd/chf

The gaps put the jpy in position to buy. Some of you guys may not have experienced Monday morning gaps like this before so here you go. Counter trade those bottoms and tops and get ready to close out minimum losses or minimum profits if your deep in the hole. If you are in a comfortable margin range you can try to ride this out. That is what I am doing but whenever you get some 200 pips away be ready to add a level at S/R and take the EA off so you dont have a double entry. If you want to encrease your lot size I only add a pip or two. So my .05 are not .06 or .08 depending on the currency.

What we maybe facing is a mini collapse of the pound right now and if the ship does not right itself soon, you just have to take the loss and eat it. The gbp/jpy has just done a -1030 move with out a retrace and that is really really rare. It looks like it is going to retrace now, finally. I only need about a 240-250 retrace to break even on that one so that is doable. Exciting moments in Forex land.
  • #377
  • Sep 28, 2009 6:43pm Sep 28, 2009 6:43pm
I've closed all the trades for a profit except for EG & GC. These 2 pairs I decided to close at a manageable loss as the white stoch line is almost at the other end (my understanding is that this indicates the pair is running out of steam in the current direction)

My open trades are AC, GN & GU. AC & GN still look ok to me as the white stoch is still at 'my' end of the chart, but I am worried about GU as the white stock is approaching the overbought territory..

In short the system is working great so far, Bob! However, if my open trades don't improve considerably, it will actually wipe out all my profitable trades
So, hoping for some good luck to come my way!
  • #378
  • Sep 28, 2009 7:19pm Sep 28, 2009 7:19pm
OK what a day. After those gaps happened and everyone crapped in their pants things developed very well. Took lots of profit so here we go. Needed to clear out all these trades. I may have closed some early but I dont like carrying this many trades.
TAKE PROFITS
aud/chf +83
aud/jpy +100
aud/usd +79
chf/jpy +20
eur/aud +165
eur/cad +82
eur/gbp +38 I added a 3L after the gap
eur/jpy +8 hit my TS
eur/usd +2 hit my TS
gbp/chf +67 added a 4th level after the gap
gbp/jpy +29 added a 3rd level after the gap
gbp/usd +97
nzd/jpy +21
usd/cad +34
usd/chf + 18
Total for the day +843
CLOSED FOR LOSS
eur/chf -5 forgot to bring up my SL had a profit but missed it.
I know I didnt make some of my best moves closing out all these profits but I also want to begin clearing out bad trades and dont want to risk more reversals and getting deep in the hole again. So lets close out some loss here. After looking I decided to keep the GBP trades and ride the reversals.
aud/jpy -36
eur/cad -66
OPEN TRADES
aud/nzd -92 -8
eur/gbp -314 -46
gbp/chf L1 -518 L2 -139 L3 -39
gbp/jpy L1 -194 L2 -10
gbp/usd - 155

TOTALS
total for day +736
+736 for the week
Carry over -1515

Total for the month of Sept. +2474

NEW TRADES
buys eur/chf
sells aud/cad
  • #379
  • Sep 28, 2009 7:27pm Sep 28, 2009 7:27pm
Quoting silv3r4sh
I've closed all the trades for a profit except for EG & GC. These 2 pairs I decided to close at a manageable loss as the white stoch line is almost at the other end (my understanding is that this indicates the pair is running out of steam in the current direction)

My open trades are AC, GN & GU. AC & GN still look ok to me as the white stoch is still at 'my' end of the chart, but I am worried about GU as the white stock is approaching the overbought territory..

In short the system is working great so far, Bob! However, if my open trades don't...
We have to face the fact that the gbp is dieing and if we have a profit total to maybe just get out. I am going to ride the gbp a little while longer but for me if I close now I still would be up over 900 pips for the month. My goal now is to walk away with as much profit as I can get for the month. You can see why I will play all the signals because it has been the constant winners from the other currencies that is keeping my month profitable. I mean I pocketed over 800 pips today and used some of them to close out some of my losses. In other words playing all the signals I could wipe out about half of my deficit but I am going to play that the gbp will move up for at least a couple of days. You can believe if I get any strong move up anytime today I will be out of all of them. So I am going to try to fight for every pip I have gained. If you really look at it other than the pound this has been a terrific month and part of trading is accepting the fact that once in a while things are not going to go your way. But the key is, the account is preserved and losses will come out of profits not my capital.
  • #380
  • Sep 29, 2009 3:03am Sep 29, 2009 3:03am
I've closed GU for a small loss, seeing as the white stoch is in the overbought territory.
GN and AC trades are still running from last Friday.

A secondary trade has just opened on the AN.

I've turned on the EA for the following pairs as well:
Buy - EC, EN, UC, EA,
Sell - AJ, AU, AC

Most of them are secondary trades..
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