Nanningbob 60x90 EA

hi,mate
i am a chinese,you are still in china.

priceless

System is working it's all about lots/levels/TP/SL calculation

Look what I have for basic 60x90 4 levels

This example is on Mini Lot (1 lot=1$) 0.10 will give you $0.10

Loss calculation:

0.1 $0.10 * 500 = $50
0.3 $0.30 * 500 = $150
0.9 $0.90 * 500 = $450
2.7 $2.7 * 500 = $1350

Tot: $2000


That's how much you going to lose if all 4 levels broken.
Keep in mind that wins would be only 0.10 * 60 = $6

Now you tell me, would you bid $2000 to win $6??? This is just crazy.

To make that $2000 back you will need about 333 wining trades at $6,

which could take almost whole YEAR (1 trade a day)

4 level is out of the question at least with the settings as they are right now

for 60x90

And $6 is nothing compare to loss amount. If instead you going to bid 1 mini lot ($1) even on 3 levels

system loss at 3rd level will hit you with $6500 over the head and, if your Account is $10000 you pretty

much finished.... And that's only if you have 1 loss = 1 mini lot 10k account balance ( on 3rd level system)

Any comments on that? Please I'd like your guys opinion.

Ive said it before, 4 levels is too much, i feel 3 is optimal but even 2 if you feel worried.

As far as I can see, we still have to use at least 1 Indicator

like Fisher for example. And tactic would as followed

use Daily Charts or H4 (minimum TF) ! Ones Fisher Change direction from Buy to sell

or from Sell to buy, EA should start looking at pair position.. Condition is:

If FISHER turn to BUY look and if pair below Median MA 1 or 2 or 3 levels

then BUY and same for SELL After Indicator turn SELL LOOK for the

Pair position and IF above Median then SELL...

For Volatile pairs like GBPJPY on daily Levels should be at least 400-500

pips away from Median

For others? 300-500 depends on volatility

ADD Fisher1 indy to your screen on Daily or H4 (I prefer Daily for clear direction) and check for yourself

what I'm talking about... Yes, it's going to be less trades, but

who needs loses???

Look Daily, that's what I mean:

I think it could be useful for TF as 15M-30M-1H, but those LEVELS must be

adjusted of course Longer TF bigger spread between the LEVELs, you know

I'll work on that..

I live in Nanning China just north of the Vietnamese border. We have a school we are trying to start here. www.nanningtutoringcenter.com

The 11 core pairs for the 4H system was posted in my Nanningbob 4H thread. This system you just need to pick a variety of pairs that give you a good mix of variety.

15. p. 159 post #2373 I explain the best pairs to trade for a beginner of my system.

Sometimes go back to post #1, I give the page and post # of the more meaningful posts.

I agree once you get to level 4 .27 you could be heading for some serious account damage. I would rather do a .03 or .06 at L4 and try to 0 out the trade.

You have a long ways to go in understanding the system. You need to go back and study the 2.4.2 recovery system and forget about that 4th level at .027. We are not martingaling here were are multi level trading. There is a big difference in both results and risk.

Sorry it took so long to get back to your question. Interenet was down at my house for over 12 hours yesterday.

Dear Bob,

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

Thanks,

I try to check my trades about every 4-6 hours. Basically the beginning for every session. Jpy session, before the Euro open, before USA session, close of the EURO session. I will usually make my decisions then. The key to trading, to me comes down to two main things, making sure you winners dont turn into losers and managing your losing trades. So once price gets into profit move that SL up and keep your profit, or if you are trying to 0 out a trade, when price is getting close, reset your SL to take that minimal loss. It is kind of discouraging to be at 3 levels and you have moved close to 0 out that trade and then price whips on you to a big DD again. Sometimes you cant get back to 0 but taking small loses is part of the game.

The EA will handle the winners and I manage the losers. In my 4H trading system I have spent almost the whole month putting out long trend very little retrace fires. But the 2.4.2 recovery system is working. I just finished getting out of some deep AUD trades but I survived them successfully. Now I face the JPY trades. There will be months like that. One of the reasons I post my trades live everyday is to discipline myself and force myself to stay within the system. As long as I do that I feel I can make it work and also teach live trading. I can sit here and write all day long but daily examples is the best way to teach and learn.

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

I like the bigger range of the 180x100 over the 60x90. I would not use the 60x90 with the more volatile trading pairs but seems to work very well with the medium and slower pairs. I have been testing a 60x60 with the slowest 8 pairs and have like the result so far. I can use a smaller multiplication with it.

Next week Wednesday is NZD interest rate. If you have been watching the markets are going nuts even when they dont change the rate. I would be trying to find my best exits on any NZD trades you have so you dont get caught with your pants down next week. The AUD has trended for 3 weeks so far over a .25 increase which to me is very unusual. The CAD didnt even change and moved 300 pips. So if the NZD rate changes forget the indicators just take the ride. If it doesnt, I have no idea what it will do because it usually follows the AUD and I dont know how the market will react to that news. SO start filtering out your NZD trades.

On Sunday, November 22, your account(s) held with FXCM LLC (FXCM) will be subject to new margin requirements. These changes are taking place to comply with new National Futures Association (NFA) margin rules.
The effective date of the new rules is November 30; however, FXCM will be applying the new margin requirements one week early.
Below, you will see a comparison of the present USD margin requirements* for some of our most popular currency pairs next to the new USD margin requirement that will take effect on November 22.
NEW MARGIN REQUIREMENTS - USD DENOMINATED ACCOUNTS** CURRENCY PAIR CURRENT USD MARGIN* NEW USD MARGIN
USD/JPY AUD/USD (most USD based pairs) $2.50 to $10
EUR/USD EUR/JPY (most EUR based pairs) $2.50 to $16
GBP/USD GBP/JPY (most GBP based pairs) $2.50 to $17
EXOTIC PAIRS VARIABLE BY PAIR VARIABLE BY PAIR *
CURRENT USD MARGIN IS BASED ON AN FXCM MICRO ACCOUNT WITH 0.25% MARGIN.
Please consult our FAQs for details.
Based on price fluctuations, all margin requirements are subject to change without notice and will be adjusted up or down in increments of $1. At present, FXCM does not anticipate that margin requirements will have to be changed more than once a month. Up-to-date margin requirements are and will continue to be displayed in the “Simplified Dealing Rates” window of the trading platform by currency pair.

Well the NFA took out my very profitable hedging strategy I used with the AUD/NZD and now it looks look multi-level trading is going to take a hit. Probably will have to trade a very small group of pairs to do this and probably take out all the volatile pairs. Any big move will margin out your account before you can practice the 2.4.2 recovery system. I am waiting to see what IBFX is going to do. Going back to trend trading where you have to see if you can get more trades to profit than you take SL on is not very appealing to me

I have also downloaded an MT5. Looks like most if not all EA and indicators will have to be rewritten or adjusted. FUN.

I can no longer see a valid reason to trade forex in the USA, they really have screwed it up. Did you find a non-US broker who will take US residents on?

FX Solutions Australia maybe the best for now but I know IBFX is setting up in Korea so we will see how that goes first then decide. Meanwhile I have been looking at a trend following system that also works when the market is flat. So far there are a couple of things left to work out. As you know the market is flat over 70% if the time and the other 30% you try to stay out of trouble with my system. Of that 30% probably 20% or more is easily survivable and the last 10% can be avoided by watching your heavy news stories. But without big leverage is it worth trading this system? For example if you use 1000 live at 400:1 I can survive a 1000 hit, if it ever happened, however, at 100:1 you need 4000 to trade the same way. The risk to return is probably not worth it. I can probably trade very safely .05 at 1000 and still get a return on my money but the increases at 4000 will be very small and may not be worth it. My figures show that 1000 dollars trading .05 nickels I can return 5-10% every month (I am doing 15-25% on 500). That is not bad. However, on 4000 and trading the same ratios without risking the account that comes to 1-3% a month. With the potential of facing at least one series of trades a year that you will take some losses on, I cant see a decent return. I dont consider it worth my time for that kind of return. I have found that high leverage seeking very conservative results brings a decent return on your money. Does this make sense to you??? I know clear as mud. High leaverage with multi level trading is less risky than low leverage and larger amount of funds. The risk to reward ratios dont work for me.

Now you add to this the risk of putting my money overseas and the increase costs of transferring money. I dont know?? It is a question I need to seriously ask.

I don't worry about it too much, being British until they screw it up here.

Regards risk/reward ratio, profit is profit, if you are confident in your methods and are puling consistant profit then I wouldn't give up on a system. You may just have to have a bitmore in the account and trade a little smaller.

The other option is try out a non NFA broker.

I posted this on my other thread but it shows why the 40MA BB trading system should be very successful. It also shows you how you survive with the 2.4.2 system on the 4 runners. This obviously would apply to any currency pair.

There is one part of my system that if you can handle the runners, you will be very successful. Here is the eur/jpy for the last 5 months. There are 28 potential trades you could have gotten if you just played the BB band. Enter sell on top and buy on the bottom. Of the 28 24 were immediate winners and 4 were runners. I marked the 4 runners with an x and the # of pips on each run. If you can grasp this one thought, understand it, learn to trade it, this system will be very successful for you. If you can zero out or minimize the loss of the 4 runners you can see very good profits.

Two of the runners were easy to handle -223 which is two levels, no problem, -342 which would be 2 or 3 levels. They bounced back nicely and would be easily 0 out or minimally profitable. Now the other two. If you follow my recovery system. You would take a L1 loss on each one and then 0 out the rest. The last one is the one I am in now and I have taken a level 1 loss and now am waiting to 0 out the other 3 levels. That is the plan so if this last one follows form this is what your trading could look like on the Eur/Jpy.
28 trades, 24 winners, 2 losing trades with 3L break evens and 2 trades that may or not be minimal winners or losers. I like those odds.

What looks ugly right now is when one pair is running like this, all the pairs of that group will run. The JPY is running across the board but the eur/jpy is in the worst shape right now. The others are still only 2 or 3 levels or already had a retrace. So that is something you will see and learn over time. My solution to that problem is two fold. Either use enough money to not have margin problems or use a limited number of mixed currencies to cover your trading.

So if you can learn this one thing you can be very successful with this system. Do you have the patience and margin to ride out the band runs? Do you have the trading skill to do this? If you do you can see how your losses can be minimal and your winners very successful, you will love this system

I also marked two retraces on this last run in yellow and I could have gotten out. I did think about it at the time but I chanced the change of direction and it was the wrong decision. It is not that I didnt have opportunity to escape this run I just didnt think the retraces were going to be that small. These are decisions you make that sometimes work and sometimes dont. Either way price will not keep going up forever, I am guaranteed a retrace again but this time I will take it and go for the smallest loss I can get. So if you can grasp what you see here and understand how it works you can be profitable.