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Nanningbob 60x90 EA

  • #2,761
  • Edited 1:47pm Oct 17, 2009 1:36pm | Edited 1:47pm
Am I missing something here?

Talking about 60x90, trading Idea:

" The EA is based on a simple idea, price always retraces back to a Median, and we trade that concept. I tried several MA numbers, 40, and 80,120,200. The 80 seemed to work best"

"" we are countertrend traders, when everyone else is buying we sell, when everyone else is selling we buy.
The red lines are buys areas and the green lines are sell areas."

You can keep selling uptrend for months
and keep piling up losses. Or? what is the Idea?

"price always retraces back to a Median"

? And?? What's the point? if it's

Uptrend it will retrace to a Median "WHITE LINE MIDDLE" but way above when

EA enter, which means it will generate loss.. How can you sell clear uptrend?

500 pips stop loss will be taking out in few hours... Can you please explain on the chart

I have green circles with crosses where, perhaps, EA enters and then price return to

median where the red circle with the cross, but about few hundred pips above and

pair still in uptrend. Can you please point out what exactly EA going to do?

Don't get, it how you can sell uptrend if this could run 10000 pips up without

stopping?

Can anyone explain based on that Screen shot?

Thanks.
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  • #2,762
  • Oct 17, 2009 1:45pm Oct 17, 2009 1:45pm
Is this how it works? Strange...
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  • #2,763
  • Oct 17, 2009 11:01pm Oct 17, 2009 11:01pm
Quoting SkyzerFX
Am I missing something here?

Talking about 60x90, trading Idea:

"...
It is very hard for people who have been beaten over the head, follow the trend, follow the trend, to grasp counter trend trading. If you want a philosophical explanation of countertrend trading go to Nanningbob 4H trading system page 1 post 1 and download my booklet on trading the 4H chart. I go into depth the philosophy of countertrend trading. The one conclusion I know is 100% true of Forex: a countertrend is 100% guaranteed of happening but the trend continuing is not. If you look at contest results from IBFX every month between 8-900 traders start the contest but only 1-150 will make a profit. I can bet you almost all are trying to follow the trend. So good luck, if you cant wrap your mind around countertrend trading then this is not for you.

Don't get, it how you can sell uptrend if this could run 10000 pips up without stopping?
Any study of the Forex will show you price never does that so ask a better question?
  • #2,764
  • Oct 17, 2009 11:02pm Oct 17, 2009 11:02pm
Quoting SkyzerFX
Is this how it works? Strange...
Nope it reenter 90 pips from first entrance not the second line.
  • #2,765
  • Oct 18, 2009 5:25am Oct 18, 2009 5:25am
Dear Bob,

Since I'm not using the EA, but rather doing everything manually, would you mind running me through a practical example of how to use the recovery mode of your system in order to avoid the death trade? Sorry for the bother. It would be most helpful.

My best,

Lenoxer
  • #2,766
  • Oct 18, 2009 5:44am Oct 18, 2009 5:44am
Quoting nanningbob
If you want a philosophical explanation of countertrend trading go to Nanningbob 4H trading system page 1 post 1 and download my booklet on trading the 4H chart. I go into depth the philosophy of countertrend trading.
Thanks Bob, sure, I will take a look right now, very interesting.
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  • #2,767
  • Oct 18, 2009 6:27am Oct 18, 2009 6:27am
Quoting Lenoxer
Dear Bob,

Since I'm not using the EA, but rather doing everything manually, would you mind running me through a practical example of how to use the recovery mode of your system in order to avoid the death trade? Sorry for the bother. It would be most helpful.

My best,

Lenoxer
If you use the S/R indicator, which I highly recommend, you would do your reentries off of them but keep your spacing. (You may consider the Daily S/R also for this. I used the weekly S/R to determine closing a usd/cad series of trades. When it broke the support level I just said heck with it and closed the whole thing for a loss. Didn't want to mess with it any further I just took it as a very bad series of trades and got out). For example, if you are doing L1 .04, L2 .06, L3 .08 when you get to level 4 you close L1 as a loss and L4 become .06. What you are looking for is L 4 moving back to L3 area. L4 profit should about equal L 2 loss and L 3 should be around break even. That would mean your L 1 trade becomes your loss. It is overall a losing trade.

If you have to go to L5 you can make it .08 and close L2. L5 and L3 should be the same size and Levels 2,4,6 etc. should be the same size. This is what you are doing. You are limiting your losses. You are basically saying this is as big of a loss I am willing to take and no bigger. 3Levels is the max levels I will do. If you are doing .06 and .08 3Levels max is 8+8+6=22 per pip is the max you are willing to use. If that is too much then you cut back on the lot size. If that is too small for your margin usage then you go with bigger lots. What I trade lot size has to do with being able to handle comfortably 3 levels going against me. If you cant handle 3 lots going against you at once then your lot size is too big. If you dont have enough margin to do this your lot size is too big. Once you get this number right, you know the forex market will never kill your account. YOU CAN NEVER AVOID TAKING A LOSING SET OF TRADES BUT YOU CAN AVOID WIPING YOUR ACCOUNT OUT. If you wipe an account out you can bet your booties I will tell you, you traded with too big of lots. No matter what the market throws at me I know I can survive it. If you have been reading my 4H trading system you know I have taken several hits this month on losing trades but my overall is still profitable at this point. I am still in position to make a profit this month even though I had a very big DD with 8 currencies going very deep against me. Now if they continue going against me I may post my first losing month in a long time but the system has kept my account intact even though in previous years I would have wiped my account out.

Now for some advance training. If price is bouncing around take a couple of TP on the L4. For example, L4 retraces 75 and pips and then looks like it is going back up to its starting point. (I really play those S/R levels) Take the 75 pips and reenter at the same previous spot you got in earlier. I did this last month on the gbp/chf pair and actually 2-L4 trades took profit making my over all loss almost nothing when the trade series was finally done.

If price has stopped at a R/S level and you dont know whether to hang on for more pips or maximize the profit. Take the profit and put a pending order on the other side of the S/R level. So if price breaks through you pick it up again, if it retraces you reenter at the previous spot you did earlier looking for a second L4 profit trade.

Hope this was clear as mud.
  • #2,768
  • Oct 18, 2009 7:55am Oct 18, 2009 7:55am
Just reading your H4 Instructions, still reading it and I notice this:


"Because I trade with IBFX, an American broker, and they are subject to the weird FIFO rules (First in, First Out) of NFA. I have to use a slight variation of the above. I change my lots sizes by changing my lot multiplication to 1.2. I start with .04 lots so my first level is .04, second level .05 and third level .06. If I go to 4th level then I go to .07. The NFA, in its great omnipotent wisdom has decreed that I must close the first order I placed first and I can’t close the third level first. Now I am not going to comment on this idiotic rule, what the crap do they care which trade I decide to close first, but IBFX interprets this to mean I can close any level I want as long as each level is a different lot size. So my levels will go like this L1 .04, L2 .05, L3 .06, L4 .07. My margin usage stays the same because at 3 levels I still am only going .15 total pips at once."

I also hear about those rules, but I'm also trading on IBFX mini NOW and still can
open up to 1000 trades with same lot size and close any of them by any
order I choose. No problems. The only thing I cannot do is Hedge (open buy and sell order at the same time on the same pair)
Too bad. This way instead of just waiting another 200 down to re-enter with higher lot, you can just sell the same pair instead
and run it till there is reverse then close SELL and average down your Buy.. Easy to say as usual..
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  • #2,769
  • Oct 18, 2009 9:53pm Oct 18, 2009 9:53pm
Quoting SkyzerFX
Just reading your H4 Instructions, still reading it and I notice this:


"Because I trade with IBFX, an American broker, and they are subject to the weird FIFO rules (First in, First Out) of NFA. I have to use a slight variation of the above. I change my lots sizes by changing my lot multiplication to 1.2. I start with .04 lots so my first level is .04, second level .05 and third level .06. If I go to 4th level then I go to .07. The NFA, in its great omnipotent wisdom has decreed that I must close the first order I placed first and I can’t close...
I used to hedge trade some, instead I would take a hedge position on the other side of the s/r rather than taking a loss. If price crossed I would hold it until it go to the next S/R. Then straddle the S/R with penging orders. If price went up the postion was hedged again. If price went down the counter trade then brought the other position back to 0 and my hedge that I had already closed became my profit. Hedging always prevented the big loss and often made losing trades to little or no loss.
  • #2,770
  • Edited 4:44pm Oct 19, 2009 4:33pm | Edited 4:44pm
Bro, check this out.. This is 60 x 90 M30 current GBPUSD uptrend

See it's like in the Casino. Trust me, if you betting on RED and Black
only, I saw like 12 times the same color pops up in the row, - it's possible..

Here it is 90 pips re-enter average) searching for 60 pips retrace back

6!!! times (I'm pretty sure there could be much more than that)

and only about 45 pips retrace.. (But in our case we need 60 pips plus spread)

Betting against trend it's like pee against the wind, possible but not recommended
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  • #2,771
  • Edited 7:21am Oct 20, 2009 7:10am | Edited 7:21am
Quoting SkyzerFX
Bro, check this out.. This is 60 x 90 M30 current GBPUSD uptrend

See it's like in the Casino. Trust me, if you betting on RED and Black
only, I saw like 12 times the same color pops up in the row, - it's possible..

Here it is 90 pips re-enter average) searching for 60 pips retrace back

6!!! times (I'm pretty sure there could be much more than that)

and only about 45 pips retrace.. (But in our case we need 60 pips plus spread)

Betting against trend it's like pee against the wind, possible but not recommended
Why should we trust you, you havent posted your trades month after month after month showing the world how a system works. Come back when you have some real info. Yes go trade the trend where over 80% of the people are losing. It is like pissing in the wind. My beef with all trend traders is they post a pic and say this is what you should have done yesterday. Why dont you tell all the traders here what they should do tomorrow. You can go to my 4H trading system and I post my trades every single day. Got a good track record too. With these EAs I post my results every month, very difficult to post day by day. You maybe right, this could be my first losing month in 6 months, but its not over. I can guarantee you 100% you will see price come back down, however, you cannot guarantee price will continue to go up tomorrow, or the next day, or the next ...............

Oh one more thing, you are suppose to trade the gbp/usd on the 5M chart not the 30M the entrances are very different. From last Friday's high to yesterdays low it did retrace 154 pips so if you are going to report something please be accurate. Also once a trade gets profit you pull your SL up so you never let a winner turn into a loser. So if the market gives you only 45 pips you take it or like I have said before I move my TP to +10 and make something. Just some of the rules you are violating using the system. Anyways good luck and just for the heck of it let us know how many pips you pulled this month. Would be interested in seeing if you can be trusted.
  • #2,772
  • Oct 20, 2009 7:30am Oct 20, 2009 7:30am
I dont trade the 60x90 live but I do the 180x100. My account is up 22% since the end of August but I am down -3.6% for OCT. It has not been an easy month I know but like I said, except for the last 10 days of this month I have been cranking out 15-25% every month since March but I didnt trade 2 months this summer because I was in the states on vacation. So these are my live results with real money. The month is not over so we will keep going.
  • #2,773
  • Oct 20, 2009 7:56am Oct 20, 2009 7:56am
Quoting nanningbob
I dont trade the 60x90 live but I do the 180x100.
Bob, in any case we all appreciate your hard work. Only blind cannot see

how much personal effort you share with US. Thank you.

By the way, speaking about 180x100, do you use 3 levels for Entry or 4?

I guess both is useful when MM handled properly.. Stop Loss the same?

500 pips? thanks.

Will try that on my test account, and see what happens..
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  • #2,774
  • Oct 20, 2009 7:42pm Oct 20, 2009 7:42pm
Quoting nanningbob
Yes go trade the trend where over 80% of the people are losing. It is like pissing in the wind. My beef with all trend traders is they post a pic and say this is what you should have done yesterday. Why dont you tell all the traders here what they should do tomorrow.
You are right.
I have tried to learn trend trading by scrolling back charts with good trends and slowly scrolling forward to see whether I could catch the trend at any point and it is really tough and may be requires lot of experience.
"Put all your efforts in becoming effortless"
  • #2,775
  • Oct 21, 2009 12:53am Oct 21, 2009 12:53am
Oh one more thing, you are suppose to trade the gbp/usd on the 5M chart not the 30M the entrances are very different. From last Friday's high to yesterdays low it did retrace 154 pips so if you are going to report something please be accurate. Also once a trade gets profit you pull your SL up so you never let a winner turn into a loser. So if the market gives you only 45 pips you take it or like I have said before I move my TP to +10 and make something. Just some of the rules you are violating using the system. Anyways good luck and just for the heck of it let us know how many pips you pulled this month. Would be interested in seeing if you can be trusted.

Dear Bob,

Can you describe exactly when you move your stop to BE?

Thanks,

__________________
GIVE A MAN A FISH, YOU FEED HIM FOR A DAY; TEACH A MAN TO FISH, YOU FEED HIM FOR A LIFETIME.
Last edited by nanningbob, Oct 20, 2009 9:21am (17 hr ago)

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nanningbob
Teach men to fish
Member Since Jun 2007
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I dont trade the 60x90 live but I do the 180x100. My account is up 22% since the end of August but I am down -3.6% for OCT. It has not been an easy month I know but like I said, except for the last 10 days of this month I have been cranking out 15-25% every month since March but I didnt trade 2 months this summer because I was in the states on vacation. So these are my live results with real money. The month is not over so we will keep going.
__________________

Next question:

Why do you prefer the 180x100 over the 60x90---because you're buying more range for your risk? (Again, it's the 180x100 on a 4H chart using a 20 period EMA with a 50 pip channel of buying/selling before moving out to 230, etc., right?). What is the real problem with the 60x90 that you don't trade it live?
And, one last question, the same pairs you trade on the 180x100 do you also trade on the 60x90 or do the universes differ?

Thanks again so much, Bob,

Lenoxer
  • #2,776
  • Oct 21, 2009 6:48am Oct 21, 2009 6:48am
Quoting nanningbob
I am doing research right now on the pairs from all the info of live trading and am coming up with a full time list of 10-12 pairs. I plan on posting them this weekend.
If u have the time Bob please post these 10-12 core pairs. Don't let some of these guys get under ur skin Bob. You, I and the thread followers know ur system works. Keep up the great work....Dan
  • #2,777
  • Oct 21, 2009 6:59am Oct 21, 2009 6:59am
Quoting IamTHAT
You are right.
I have tried to learn trend trading by scrolling back charts with good trends and slowly scrolling forward to see whether I could catch the trend at any point and it is really tough and may be requires lot of experience.
I, the only way following the trend works for me is with 2 charts, long tf chart for the direction and short tf for the trigger to go in the direction of the long tf. Trouble with this is that I'm glued to the screen all day.....Dan
  • #2,778
  • Oct 21, 2009 7:22am Oct 21, 2009 7:22am
Hello,
I tried on demo "4H BB EA 4D" with default settings on all available pairs. From 14.10. till today (7 days ) was all 1000 demo dollars gone.
Is there anybody here who is trading this EA with succes?
Pavel
  • #2,779
  • Edited Oct 22, 2009 7:06am Oct 21, 2009 1:43pm | Edited Oct 22, 2009 7:06am
Quoting maya007
Hello,
I tried on demo "4H BB EA 4D" with default settings on all available pairs. From 14.10. till today (7 days ) was all 1000 demo dollars gone.
Is there anybody here who is trading this EA with succes?
Maya, 1000 demo account playing all available pairs for pennies with a 400:1 leverage should have been enough . If you were playing for dimes or dollars you were lucky to get 7 days of trading. Bob's covered what monies u need to trade these ea's and what leverage should be used. Actually 1000 is not enough even for pennies playing all the pairs. Bob's got a couple of years of trading these ea's and we should all be listening to him....Dan
  • #2,780
  • Oct 21, 2009 9:07pm Oct 21, 2009 9:07pm
Sorry I have not posted today but I do not have internet connection at my house here in China. I will try to post later today if I can get service restored. Sorry about the delay.
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