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Nanningbob 4H trading system

  • #581
  • Oct 30, 2009 7:34pm Oct 30, 2009 7:34pm
2 1/2 month total +5006 (dang thats good)- That's darn good, especially this last month. Your poll is even now.
  • #582
  • Oct 30, 2009 7:39pm Oct 30, 2009 7:39pm
I posted this on the other thread but if you get caught on the wrong side of a trade this week using the system, especially if a country makes an interest rate change, just close the trade and follow the trend. If they dont change look for a big move and then a big retrace the next day, could be very profitable. Anyway here is my note:

Well this is going to be an exciting week with prices bouncing all over the place. Interest rate news
MON AUD (expecting an increase)
WED USD
THURS EUR, GBP

Recently no news or no change in the interest rate has been very exciting. There have been big moves on currencies, some moving over 300 pips in a matter of hours, when they havent changed their rates and long trends lasting weeks when they do. I would not want to take the 60x90 into these news stories. I dont think it has enough range to handle these kind of moves when there are interest rate changes. I will not even use my 180x100 during this week. I will be using the 40MA BB on pairs not effected by the news. If you are going to trade this week do not play a lot of one kind of currency. In other words dont have 5 AUD pairs going at once. Maybe 2, same with all the others. Take your 2 or 3 favorites and trade them.

VERY IMPORTANT. MAJOR NEWS ALWAYS TRUMPS INDICATORS. If any country changes its interest rate just follow the trend. They probably will run 2-3 weeks in one direction so follow it. If they dont change there have been big moves for about a 24-36 hour period. So trade with care.
  • #583
  • Oct 30, 2009 8:01pm Oct 30, 2009 8:01pm
Quoting Toothman
2 1/2 month total +5006 (dang thats good)- That's darn good, especially this last month. Your poll is even now.
I think I found a MA cross that will do what I want. Thanks for your help.
  • #584
  • Nov 1, 2009 1:15am Nov 1, 2009 1:15am
Quoting nanningbob
I think I found a MA cross that will do what I want. Thanks for your help.

Bob, which MA cross are u talking about? Can you please tell

Also I wanted to know why you are using 3EMA-close and 3EMA-open crossover to enter a trade? sorry I am a newbie......and wanted to know whats to special in 3EMA

Thanks in Advance
  • #585
  • Nov 1, 2009 3:14am Nov 1, 2009 3:14am
Quoting TheFutureAce
Bob, which MA cross are u talking about? Can you please tell

Also I wanted to know why you are using 3EMA-close and 3EMA-open crossover to enter a trade? sorry I am a newbie......and wanted to know whats to special in 3EMA

Thanks in Advance
Finding a top or a bottom of a move is like finding a needle in a haystack so we search for it. In a ranging market Sto and BB work great. If trending then we look for the blue sto crossing the MACD. However, I am not going to sit and stare at a screen all day looking for it. We want to stay out of the trade until there is a move downward. A 3x3 is fairly accurate but 20% of the time it will enter too early. A 3x3 is approximately the same time the white sto will cross the 15 or 85 line. So the logic is I want a definite downturn before I enter and the sto crossing the 15/85 is a good place to start. The 20% of the time it is wrong we multi level the entrance. That is the theory. Once we are in overbought and oversold territory, price will move only so far before it retraces for some reason. The exception is very big news stories or a fundamental change in the currency IE interest rate changes. We watch out for those two things we are in good shape on almost every trade. If we get into a bad trade we try to retrace our way as close to 0 as we can get so we get to keep our profits.
  • #586
  • Nov 1, 2009 11:55am Nov 1, 2009 11:55am
Quoting nanningbob
Finding a top or a bottom of a move is like finding a needle in a haystack so we search for it. In a ranging market Sto and BB work great. If trending then we look for the blue sto crossing the MACD. However, I am not going to sit and stare at a screen all day looking for it. We want to stay out of the trade until there is a move downward. A 3x3 is fairly accurate but 20% of the time it will enter too early. A 3x3 is approximately the same time the white sto will cross the 15 or 85 line. So the logic is I want a definite downturn before I enter...
thanks bob. 1qq: how do you turn on the buy/sell EA's? at a time only 1 should be started for any currency? I have gotten everything else then this. Please help

Thanks
  • #587
  • Nov 1, 2009 1:16pm Nov 1, 2009 1:16pm
How do you know which EA to use on which pair. There are a lot of them in the paperclip files.
  • #588
  • Nov 1, 2009 3:38pm Nov 1, 2009 3:38pm
Quoting Nene
How do you know which EA to use on which pair. There are a lot of them in the paperclip files.
That is what page 1 post 1 is for, read the instructions.
  • #589
  • Nov 1, 2009 3:41pm Nov 1, 2009 3:41pm
Bob can i use this system for a daily tf or strictly for the 4hr time frame. Also should i use the same 3ma cross over for daily tf or change it like u say in ur manual.
Also can u tell how to have 2 indicators in 1 indicator window?

thanks
  • #590
  • Nov 2, 2009 4:20am Nov 2, 2009 4:20am
Quoting TheFutureAce
thanks bob. 1qq: how do you turn on the buy/sell EA's? at a time only 1 should be started for any currency? I have gotten everything else then this. Please help

Thanks
I post everyday what I do, sells, buys, you can follow along for a while and get the feel. In my book, page 1 post 1 I give the different trade scenarios. When you see a trade scenario you post that template onto the screen. The EA is already in it. The EA will automatically enter the trade when price crosses the MA so you will be in then. Then monitor the trade.
  • #591
  • Nov 2, 2009 4:22am Nov 2, 2009 4:22am
Quoting TheFutureAce
Bob can i use this system for a daily tf or strictly for the 4hr time frame. Also should i use the same 3ma cross over for daily tf or change it like u say in ur manual.
Also can u tell how to have 2 indicators in 1 indicator window?

thanks
You can use the daily TF for signals if you wish but the EAs are hard coded for the 4H TF. If you want them changed just go into the code and change the 4H to D1 and it will be ready. Probably need to change the 3x3 to a 1x1 for the daily chart though.
  • #592
  • Nov 2, 2009 4:26am Nov 2, 2009 4:26am
Also can u tell how to have 2 indicators in 1 indicator window? From the custom indicators all you need to do is drag the indicator on top of the other indicator. Then you will have one in side the other. You can really have some weird stuff and is fun to play with. I put two stos and 1 MACD together to get the red white and blue lines. That is kinda what the ADX indicator is.
  • #593
  • Nov 2, 2009 5:52pm Nov 2, 2009 5:52pm
Beware of the aud go with the direction it heads after the interest rate news story. Because it is a big news week almost all the currencies are sitting in the middle. That is no man's land and we dont trade it. I put the Eur/Chf on but that is a maybe. I took two nzd trades and they are just sitting there. So we wait for the news stories to take price to one extreme or the other and then take the trades. So not much happening today. The nzd/jpy nzd/chf trades play very tight. Get your SL up as soon as possible.
TAKE PROFITS
eur/usd +62
eur/nzd +103 gapped up monday entered and took the profit.
gbp/usd +120 took the profit
CLOSED FOR LOSS
OPEN TRADES
aud/nzd -87
eur/cad -8
eur/nzd -261 L2 -61
nzd/chf, -21
nzd/jpy -5

TOTALS
total for day +285
+285 for the week
+ 285 for the month
Carry over -443

primary trades
BUYS eur/chf
SELLS

Secondary trades
BUYS

SELLS
  • #594
  • Nov 3, 2009 5:13pm Nov 3, 2009 5:13pm
Wiped out my carryover and still made a profit. With yesterdays profit from the Eur/Nzd trade it actually was a profitble trade even though today it looks like a loss. Beware of the eur and usd interest rate statements tomorrow. dont get deep into any of the trades. Not much out there today, nice day to go fishing. Excitement will be later in the week.

TAKE PROFITS
aud/nzd +33
eur/cad +50 (hit my trailing stop, nice move though)
eur/chf +10
nzd/chf, +12
nzd/jpy +10
CLOSED FOR LOSS
 eur/nzd -142 L2 +58
OPEN TRADES


TOTALS
total for day +31
+316 for the week
+ 316 for the month
Carry over 0

primary trades
BUYS aud/cad (even though this shows as a primary trade, it is sitting in the middle of the screen so not a really good trade. I am going to pass on it but I thought I would post it to show an iffy primary trade.)
SELLS

Secondary trades
BUYS

SELLS
  • #595
  • Edited 1:56pm Nov 4, 2009 11:38am | Edited 1:56pm
Updating trading results. +1502 for the less than four weeks I've been trading the EA with at least another + 800 if I wouldn't have mistakenly left the EA on. I'm trading the 200 3L EA's on 18 pairs starting at .1 on a $50,000 demo. I'm taking only primary trades. The worst DD I've seen in the 31/2 weeks was less than 6% and so far 100:1 margin has held up. I've been taking +50 on L1 trades. When I go to L2 or L3 I set my TP at BE + 20-30 pips. My multiplier is 1.5. I'm quite happy with the results so far.
  • #596
  • Nov 4, 2009 5:17pm Nov 4, 2009 5:17pm
Didnt have any trades on so nothing happened. The aud/cad would have made around 50 pips but did not take it. The market is sitting in the middle for now, I believe that is because it is not sure what will happen with all the interest rate stories later today. If they all move to overbought or oversold then that is kind of predictor of what will happen later. If there are any trades its the Gbp/chf, gbp/jpy, gbp/usd as sells back to the middle. If you take those have a tight stop and play them to go back to the middle and then get out before interest rate time. Some of the Auds have lined up as secondary trades but I am not taking them either. Will take the aud/nzd but that is it. Other than that, go fishing again. The aftermath of the news tomorrow will be our play time. Good day to go to the 5M chart and scalp a couple of quick ones.

TAKE PROFITS

CLOSED FOR LOSS
OPEN TRADES


TOTALS
total for day 0
+316 for the week
+ 316 for the month
Carry over 0

primary trades
BUYS
SELLS

Secondary trades
BUYS

SELLS aud/nzd
  • #597
  • Nov 4, 2009 5:18pm Nov 4, 2009 5:18pm
Hey, good news the positive votes are 43-41. Took 5000 pip profit in less than 3 months to do it though.
  • #598
  • Nov 4, 2009 5:28pm Nov 4, 2009 5:28pm
What is your broker doing? Havent heard from IBFX? Here is some news for USA customers.


On November 30, 2009, the NFA will implement amendments to the Financial Requirements Sections 11 and 12. This amendment will limit leverage to 100:1 for U.S. held accounts, including all currencies and metals offered by FX Solutions.

FX Solutions is able to provide an alternative to the new NFA amendments reducing leverage. You have the option of continuing all current functionality by seamlessly opening an additional account with FX Solutions UK. This alternative would also allow
you to:

 

  1. http://content.mkt41.net/ra/2009/422.../checkmark.jpe Maintain leverage up to 400:1 on Forex and up to 200:1 on Spot Metals†
  2. http://content.mkt41.net/ra/2009/422.../checkmark.jpe Trade on a ticket-based system
  3. http://content.mkt41.net/ra/2009/422.../checkmark.jpe Place stop loss and limit orders on individual trades
  4. http://content.mkt41.net/ra/2009/422.../checkmark.jpe Utilize Hedging functionality††

  • #599
  • Nov 4, 2009 5:31pm Nov 4, 2009 5:31pm
There are two important things about interest rates. If they change, they fundamentally change the direction or continuation of a currency. This may affect a currencies movement for days or even weeks. As you may have noticed the last AUD change sent price up for 3 weeks straight with very little retracement.

Second there is associated news that comes out with it based on the interest rate change or non change. So even though the interest rate may not change, the currency will move based on associated news. Last year we had a change on the NZD rate that moved the market but several hours later, based on that change, the credit rating changed which made the NZD shoot hundreds of points. That secondary story caused me to take one of my biggest losses last year. That news story was not on the FF calendar but greatly affected price action. So that is why I am so cautious around interest rate changes, it affects many other areas that may not be readily seen or known as a trader.

So as you can see I am very cautious around these events. Even though most of the time the market does not move that much, it is when there is a surprise and you are on the wrong end, your account can be damaged very quickly.
  • #600
  • Nov 4, 2009 8:50pm Nov 4, 2009 8:50pm
Quoting nanningbob
What is your broker doing? Havent heard from IBFX? Here is some news for USA customers....
Minimum trade size is 10cents a pip right? I know with FX solutions Australia you have to trade 10 cents a pip.
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