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Nanningbob 4H trading system

  • #501
  • Oct 12, 2009 6:36pm Oct 12, 2009 6:36pm
quiet day, the auds continue to march in the mud.
TAKE PROFITS
eur/chf +10 well its something

CLOSED FOR LOSS
I am going to start reducing my risk in the Aud
Aud/chf -28

OPEN TRADES
aud/nzd EA +42 put my +10 on and will let it ride
aud/jpy, -257 2L -133 3L -18
aud/usd, -262 2L -39 OK that went nowhere but white line is back at over bought.
eur/aud, -327 2L -94
eur/cad -327 2L -100 3L 0
eur/jpy +10
gbp/nzd -328 Why do I bother with this one.
nzd/jpy -66
usd/cad -200 2L -100 3L +5
usd/jpy +30 move my SL to +10 and going to ride

TOTALS
total for day -18
-18 for the week
+1455 for the month
Carry over -2358 You will start seeing me reduce this risk and dumping some currencies here. I will start picking my spots of minimum damage. Minimal retracements on the AUD and NZD are hurting this particular group of trades. Cad recovery hopefully will start coming. So we go to work.

NEW TRADES

primary trades
BUYS aud/cad
SELLS chf/jpy usd/jpy

Secondary trades
BUYS
SELLS eur/usd look at the double top
watch for the NZD pairs to double top and see if you want to take secondary trades later today.
  • #502
  • Edited 4:44pm Oct 13, 2009 4:28pm | Edited 4:44pm
Hi All,

After watching the price bouncing around, I've taken the plunge and closed most of my losing trades. Quite devastating to my account balance.
I hope never to repeat that mistake of placing my multi level trades too close together :/

Open trades:
None

New trades (EA enabled):
BUY - USDCAD, AUDCAD
SELL - CHFJPY, EURUSD
  • #503
  • Oct 13, 2009 5:39pm Oct 13, 2009 5:39pm
Still playing in the mud. Starting to lower my risk in the pairs. Some of the majors are coming back into play finally. In my GBP fight last month I offset some of my bad trades by others taking profits. So far with the depth of my AUD and Cad trades I have not had the offsetting winners from other currencies. That has made taking out bad trades tough this month. But we keep hanging in there. Reduced my carry over by 25% mainly by the nice jump in the gbp/nzd. Still my worst two trades aud/jpy and usd/cad still havent had a good retracement yet.
TAKE PROFITS
aud/nzd +30
Eur/Cad +60 3L 2 L -13
usd/jpy +10

CLOSED FOR LOSS
eur/aud 2 L-20
gbp/nzd +130 -198


OPEN TRADES
aud/cad -32
aud/jpy, -257 2L -133 3L -18
aud/usd, -262 2L -39
chf/jpy -38
eur/aud, -253
eur/cad -267
eur/jpy -45
eur/usd -30
nzd/jpy -66
usd/cad -230 2L -130 3L -25


TOTALS
total for day -1
-19 for the week
+1454 for the month
Carry over -1825

NEW TRADES

primary trades
BUYS usd/chf
SELLS eur/usd I started early yesterday

Secondary trades
BUYS
SELLS
  • #504
  • Oct 13, 2009 5:52pm Oct 13, 2009 5:52pm
Might be insightful

http://www.actionforex.com/action-insight/
  • #505
  • Oct 13, 2009 5:57pm Oct 13, 2009 5:57pm
Thanks for the heads up on the USDCHF, Bob.
I've enabled the BUY EA for that one too now.

Quoting nanningbob
Still playing in the mud. Starting to lower my risk in the pairs. Some of the majors are coming back into play finally. In my GBP fight last month I offset some of my bad trades by others taking profits. So far with the depth of my AUD and Cad trades I have not had the offsetting winners from other currencies. That has made taking out bad trades tough this month. But we keep hanging in there. Reduced my carry over by 25% mainly by the nice jump in the gbp/nzd. Still my worst two trades aud/jpy and usd/cad still havent had a good retracement yet.
[u][b]...
  • #506
  • Oct 13, 2009 10:07pm Oct 13, 2009 10:07pm
Hi Bob...
Following the thread with interest and downloaded your updated PDF and indicators. A problem exists however. The MACD indicator does not show up on the template and the template does not match the photo. Both stochastics are present and the BB are 40. It would be no problem to add Macd if I knew the settings but I can't find them in your PDF. It would appear that I have a composite of the old and the new. What do you suggest. Thanks.
  • #507
  • Oct 13, 2009 11:34pm Oct 13, 2009 11:34pm
The EA would not kick off a sell trade for CHFJPY.
I've manually opened one myself. I really REALLY hope the previous daily resistance doesnt become the new support line :/

Also, I decided to take the buy EA off AUDCAD as the white stoch line is already approaching the other end and the EA failed to trigger a trade for that one...

Bob, is this normal? Just wondering, thanks!
I am guessing it's just not working for the current market conditions and might require me to pull the trigger manually instead

Active trades:
Sell - CHFJPY

EA is still turned on for:
Buy - USDCHF
Buy - USDCAD
Sell - EURUSD
  • #508
  • Oct 14, 2009 12:27am Oct 14, 2009 12:27am
Quoting Jollyroger
Hi Bob...
Following the thread with interest and downloaded your updated PDF and indicators. A problem exists however. The MACD indicator does not show up on the template and the template does not match the photo. Both stochastics are present and the BB are 40. It would be no problem to add Macd if I knew the settings but I can't find them in your PDF. It would appear that I have a composite of the old and the new. What do you suggest. Thanks.
Make sure the NB MACD is loaded in your indicators. That is the one I am using. If you dont have it open the MT4 MACD Hit Control F. You will get the text finder. type Histogram into the search and it will find histogram. Change histogram to 'line' and then save it to NB MACD and compile it. Then it should show up.
  • #509
  • Oct 14, 2009 1:20am Oct 14, 2009 1:20am
Shortly after I opened that trade on CHFJPY, the white stoch smacked the bottom of the chart so I closed the order with a small loss.
No active trades again...

Looks like my previous statement might come true, the price might actually be bouncing off the previous resistance line, so it would now act as a support line.. Should I open a buy trade? Hrm...

At this point I am thinking of waiting for a trend confirmation before deciding whether or not I should open a buy manually on that pair...
Comments anyone? (:

Quoting silv3r4sh
The EA would not kick off a sell trade for CHFJPY.
I've manually opened one myself. I really REALLY hope the previous daily resistance doesnt become the new support line :/

Also, I decided to take the buy EA off AUDCAD as the white stoch line is already approaching the other end and the EA failed to trigger a trade for that one...

Bob, is this normal? Just wondering, thanks!
I am guessing it's just not working for the current market conditions and might require me to pull the trigger manually instead

Active trades:
Sell - CHFJPY

[u]EA...
  • #510
  • Oct 14, 2009 1:53am Oct 14, 2009 1:53am
Quoting silv3r4sh
Shortly after I opened that trade on CHFJPY, the white stoch smacked the bottom of the chart so I closed the order with a small loss.
No active trades again...

Looks like my previous statement might come true, the price might actually be bouncing off the previous resistance line, so it would now act as a support line.. Should I open a buy trade? Hrm...

At this point I am thinking of waiting for a trend confirmation before deciding whether or not I should open a buy manually on that pair...
Comments anyone? (:
Make sure you are watching on the 4H chart, your description sounds like the 1H chart. Here is my chf/jpy trade and would have entered today.
Attached Image (click to enlarge)
Click to Enlarge Name: chf jpy.gif Size: 11 KB
  • #511
  • Edited 6:46am Oct 14, 2009 6:12am | Edited 6:46am
Argh you're right Bob.
My mistake.. I was indeed looking at the wrong TF chart in that case
Thanks...

On an unrelated note, I have taken the EA off the USDCAD chart. I decided to do this after looking back at previous price behavior and it seems very unpredictable........

Quoting nanningbob
Make sure you are watching on the 4H chart, your description sounds like the 1H chart. Here is my chf/jpy trade and would have entered today.
  • #512
  • Oct 14, 2009 8:54am Oct 14, 2009 8:54am
Quoting silv3r4sh
Argh you're right Bob.
My mistake.. I was indeed looking at the wrong TF chart in that case
Thanks...

On an unrelated note, I have taken the EA off the USDCAD chart. I decided to do this after looking back at previous price behavior and it seems very unpredictable........
Trying to dig my way out of it once again. Hate that pair. I think I will burn it off of my hard drive so I never look at it again. Thought I would have better luck with this system over the other systems I have used with that pair.
  • #513
  • Oct 14, 2009 4:27pm Oct 14, 2009 4:27pm
Still no active trades, but I now have 4 pairs waiting for a trigger...

BUY
USDSGD, USDCHF

SELL
GBPUSD, EURUSD, GBPJPY

Wondering if I should also enable the EA for GBPJPY?
Edit: Ah what the hey, I'll turn it on. The list of pairs above has been updated.
  • #514
  • Oct 14, 2009 4:47pm Oct 14, 2009 4:47pm
Quoting nanningbob
Make sure the NB MACD is loaded in your indicators. That is the one I am using. If you dont have it open the MT4 MACD Hit Control F. You will get the text finder. type Histogram into the search and it will find histogram. Change histogram to 'line' and then save it to NB MACD and compile it. Then it should show up.
Thanks! I'm looking forward to learning your system.
  • #515
  • Edited 7:45pm Oct 14, 2009 7:19pm | Edited 7:45pm
Prices continue to stagnate. Interesting that everything is moving in one direction very very slowly at the same time. I dont think I have ever seen this on all currencies at the same time. I have seen prices stagnate before big news stories but they still will bounce up and down in a very small range. Last month while we waited on the GBP trades the other currencies still bounced around and gave us some trades to counter the bad GBP trend but the entire Forex is doing a snail trend. I once described this like getting your small toe twisted off by twisting a wrench on it 2 mm every 4H.

I closed out my usd/cad but hung on to the AUD. The aud currencies are showing MACD divergance on almost every pair and that is a very powerful indicator. MACD divergance is when the red MACD line is going down and price keeps moving up. It is one of the strongest indicators of price reversal. Also whenever the AUD/USD has gone over 90 in the past it usually doesnt stay there very long. Makes their exports too expensive and things slow down for them. So we will see.
TAKE PROFITS
aud/cad +2

CLOSED FOR LOSS
usd/cad broke a weekly support line and I was no longer willing to play with it. Just not worth continuing to risk this trade. Sometimes we eat one and I am eating this one. -620

OPEN TRADES
aud/jpy, -318 2L -194 3L -79
aud/usd, -342 2L -119
chf/jpy -58
eur/aud, -333 2L 0
eur/cad -367 2L 0
eur/jpy -66
eur/usd -53
nzd/jpy -61

TOTALS
total for day -618
-637 for the week
+817 for the month
Carry over -1990

NEW TRADES

primary trades
BUYS usd/chf EA is on but has not entered yet.
SELLS

Secondary trades
BUYS
SELLS aud/chf
  • #516
  • Oct 14, 2009 9:04pm Oct 14, 2009 9:04pm
Really appreciate the commentary, Bob.
It's very informative

Quoting nanningbob
Prices continue to stagnate. Interesting that everything is moving in one direction very very slowly at the same time. I dont think I have ever seen this on all currencies at the same time. I have seen prices stagnate before big news stories but they still will bounce up and down in a very small range. Last month while we waited on the GBP trades the other currencies still bounced around and gave us some trades to counter the bad GBP trend but the entire Forex is doing a snail trend. I once described this like getting your small toe twisted off...
  • #517
  • Edited 4:53pm Oct 15, 2009 3:37pm | Edited 4:53pm
I had the Buy EA enabled on USDSGD but it failed to trigger a trade to capture the recent price reversal. So, I manually opened a trade on it. When it went up a bit, I put in an SL to lock in some modest profit and guess what? It came back down and hit my SL. DEFINITELY should have bagged the profit right away. WHAT WAS I THINKING?! It should have been obvious to me that it was in a downward trend and the upward movement was more likely to be short-lived.

I also got a few pips on USDCHF, almost identical to my little story above.

I've just manually opened up trades on EURGBP and USDJPY, instead of waiting for the EA to kick in...

EA is turned on for:
GBPUSD, GBPJPY, CHFJPY

Hoping the EA captures the change in direction, otherwise I might manually open the trade again.
Attached Image (click to enlarge)
Click to Enlarge Name: usdsgd.gif Size: 25 KB
  • #518
  • Oct 15, 2009 4:54pm Oct 15, 2009 4:54pm
By the way Bob, USDCAD is finally retracing - damn, wish I/we had caught that one!!!
  • #519
  • Oct 15, 2009 7:50pm Oct 15, 2009 7:50pm
Quoting silv3r4sh
I had the Buy EA enabled on USDSGD but it failed to trigger a trade to capture the recent price reversal. So, I manually opened a trade on it. When it went up a bit, I put in an SL to lock in some modest profit and guess what? It came back down and hit my SL. DEFINITELY should have bagged the profit right away. WHAT WAS I THINKING?! It should have been obvious to me that it was in a downward trend and the upward movement was more likely to be short-lived.

I also got a few pips on USDCHF, almost identical to my little story above.

I've just manually...
I'm waiting for both stochs and macd to be in OB/OS territory before turning on the EA's. Makes for a safer trade. If you add the 3LWMA open/3LWMA closed on your chart you can see when the cross is taking place. Did you have the smiley face in the upper right hand corner of your chart for that USD/SGD trade?
  • #520
  • Oct 15, 2009 7:52pm Oct 15, 2009 7:52pm
Going through a rough stretch here. If I had stayed in the usd/cad I could have saved an extra 90 pips off of the trade but still dont like taking the chance. Resisted jumping in too early on the GBP but today we go in. The AUD and CAD has been a killer this month. Good to see the major currencies come back into play. Will make a mental note that when the major currencies are not in play you dont want to get involved with the minor currencies. Took out the Aud/jpy trade at -400 for 1 level. That is using my 2.4.2 recovery method. Now we want to zero out that trade. So far still using my profits and not my principal to get out of trouble. Been a rough two weeks.
TAKE PROFITS
Eur/USD +30
usd/chf +50

CLOSED FOR LOSS
aud/jpy -400

OPEN TRADES
aud/jpy, 2L -374 3L -259 4L 0
aud/usd, -382 2L -159 3L 0
chf/jpy -158 2L 0
eur/aud, -419 2L -88
eur/cad -315 2L +62
eur/jpy -258 2L 0
nzd/jpy -208 2L 0


TOTALS
total for day -320
-957 for the week
+497 for the month
Carry over -2558

NEW TRADES

primary trades
BUYS
SELLS USD/JPY gbp/usd gbp/jpy gbp/chf eur/usd

Secondary trades
BUYS USD/CHF
SELLS
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