Nanningbob 4H trading system

I dont know will investigate when I get home from work tonight. Interesting to see whether a company will stay or move from the USA. We wonder why our jobs keep going overseas. Stupid, we are losing our freedoms on regulation at a time. If this actually protected investors I wouldnt complain but this only forces the little guys to go elswhere. The NFA is only out to protect its own little group.

Not sure MT4 is offered by FX Sol.UK. I know it is with the Aus. branch.

ZZZZZZZZZZZZZZZZ hmmmmmmmm not much out there so went to the list of currencies I said I dont trade and found some there. Looking at the gbp
TAKE PROFITS

CLOSED FOR LOSS

OPEN TRADES
aud/nzd -46

TOTALS
total for day 0
+316 for the week
+ 316 for the month
Carry over -46

primary trades
BUYS
SELLS eur/nzd
Maybe later today if they line up eur/cad, eur/usd

Secondary trades
BUYS

SELLS gbp/chf, gbp/nzd, gbp/usd, gbp/jpy all look good as secondary trades so I am going to take 2 of them. gbp/nzd and gbp/usd. The problem of the gbp is there is lots of bad news coming out but banks and companies are stepping in and supporting the pound. Hard to trade when people are stepping in and buying when the news is bad. So if you sell, take the profit, because it will disappear quickly. It is why I dont trade fundamentals, this is how they get killed on trades. Only long term position traders win out in the long run, if some sudden good news doesnt hit. See chart below. I had expected the pound to keep dropping but with the buy ins, it didnt. My 40 MA BB would have played this perfectly but I was expecting a BB band run so I didnt use it. Oh well, Forex trading is so much fun. TP at each support line and put a sell limit below it. If someone doesnt step in again you may get another good ride. If people do step in, you get to keep your full profit and not get involved in backlash.

I have been demo the FX SOL mt4 but it keeps freezing up on me. So I dont know. Still have not heard from IBFX. Wondering what they will do??

My FXSol. Australia demo has been good. Don't like the higher spreads and swap but I still think it's worth it to get the 400:1 and hedging. I'm going to trade a retirement account with them so the 10 cents a pip is ok with me.

I am trying to get a follow the trend EA to work. Trying to overcome the SL problem is a pain. Will keep working but I am running into all the problems I had in the past with these dang things. It is actually easier to get a non trend EA profitable than a trending one. I dont like the costs of shipping money to Australia and back. Even though the spreads are higher they are fixed whereas IBFX loves to increase the spread as you approach profit.

With the help of the programming section and (IamThat), I think I have the changes you have to make to the code to keep EA from rentering after a TP. Will post changes if they work. Bob, quick question- Say the EA enters a trade with TP set to say 50. If you then change the TP variable of the EA to 0, will the EA override the existing TP order and close it at BE? Or will the trade close at +50 since that's what the order line reads at the bottom of the chart? Hope the question is clear enough. thanks

Not really sure what you are asking. There are only a couple of ways to take a profit. 1. # of pips 2. indicator cross 3. TS 4. some predetermined point like a trend line, BB band, etc.

eeked out a couple of trades. For a big news week it sure was quiet but +487 pips and very little DD, I will take weeks like this all year long. Bad report for USA employment and the markets hardly moved. The Forex is about business doing business and it has been quiet, are businesses not doing business around the world and things are getting worse????
TAKE PROFITS
eur/nzd +83
gbp/nzd +88

CLOSED FOR LOSS

OPEN TRADES
aud/nzd -98
Eur/cad Not entered
Eur/usd +22 set SL at 0
gbp/usd 0


TOTALS
total for day +171
+487for the week
+487 for the month
Carry over -76

primary trades
BUYS
SELLS


Secondary trades
BUYS

SELLS aud/cad, eur/cad

OK my top 11 pairs and alternates:
This gives me 2 of each: aud, cad, chf, gbp, nzd,
4 of each eur, usd, jpy

aud/cad - aud/nzd this matches minor or commodity currencies together. As I have stated before minor currencies can get squashed by the larger currencies.

chf/jpy - eur/jpy - eur/usd - eur/cad - eur/nzd

gbp/jpy - gbp/usd - usd/chf - usd/jpy

Alternatives: the aud/jpy, eur/jpy, are all similiar so choose one. The Aud/jpy is not as volatile as the gbp/jpy if you want less movement but still like some volatility but it will do long trends more. The most important thing is you dont want to be heavily investment into any one currency. If the EUR/NZD is too volatile for your tastes you can replace it with nzd/chf or nzd/jpy. I just happen to like the eur/nzd pair and the way it flies around the chart.

Most volatile pairs: eur/nzd and gbp/jpy can be replaced with aud/jpy nzd/jpy nzd/chf for less volatility.

Sorry I wasn't clear with the question. Example - EA has gotten you into a trade with TP set at 50. So your trade is opened and running at the bottom of the chart with TP set to 50. At this point if you change the TP variable of the EA attached to your chart to 0, will the EA override the existing TP setting of 50 at the bottom of the chart?

The EA sets the TP, SL, etc. at the time of the trade so if you change the EA it does not change the old trade because all its parameters were set at the time the trade was entered. In other words it placed at the server or your broker all the parameters. If you change the EA parameters that does not change the existing trade at your broker. You will have to change the original trade manually. However, if you change let us say the distance to the next reentry from 200 to 150 and you have kept the same magic number then the EA will reenter the trade at 150 since this is a new trade. Same thing if you change lot size, multiplication, etc. the next trade will reflect the changes. So if you start at 2x multiplication and the first trade is 2 lots then 2nd level would be 4 lots. However, if you change the multiplication to 1.5 then when it reenters the second level it will be 3 lots instead of 4 lots because you changed the parameters for the next trade. If you are at two lots on the first trade and you change the lot size to 1 lot and multiplication stays at 2x then the 2nd level would be 2 lots also, the same as the first lot, because you changed the parameters of the next trade. So EA changes do not affect the original order already placed but will change subsequent orders.

aud/nzd gapped 120 pips this morning and I took the profit.

For anyone who's interested, here are the changes needed to stop the EA from reentering after a TP is hit. Also notice that you have to delete a line and a bracket at the end. I'm pretty sure this stops reentry after a SL is hit also. Thanks to IamThat.
bool YesStop;
bool isTPSL=False;
//+------------------------------------------------------------------+
//| expert initialization function |
//+------------------------------------------------------------------+
int init()
{
//----

//----
return(0);
}
//+------------------------------------------------------------------+
//| expert deinitialization function |
//+------------------------------------------------------------------+
int deinit()
{
//----
DeleteAllObjects();
//----
return(0);
}
//+------------------------------------------------------------------+
//| expert start function |
//+------------------------------------------------------------------+
int start()
{
//----
int cnt=0;
bool result;
string text="";
string version="VERSI INI DAH EXPIRED...SILA YM xxul_gunturean utk penggantian";

// skrip masa trading
if (UseTradingHours)
{

YesStop = true;

if (lotsi<0.01) lotsi=0.01;
if (lotsi>100) lotsi=100;

OpenOrders=0;
MarketOpenOrders=0;
LimitOpenOrders=0;
for(cnt=0;cnt<OrdersTotal();cnt++)
{
if (OrderSelect(cnt, SELECT_BY_POS, MODE_TRADES))
{
if (OrderSymbol()==Symbol() && OrderMagicNumber() == MagicNumber)
{
if (OrderType()==OP_BUY || OrderType()==OP_SELL)
{
MarketOpenOrders++;
LastOrderOpenTime=OrderOpenTime();
}
if (OrderType()==OP_SELLLIMIT || OrderType()==OP_BUYLIMIT) LimitOpenOrders++;
OpenOrders++;
}
}
}
if(PreviousOpenOrders>OpenOrders) isTPSL=True;

if (OpenOrders<1)
{
if (!TradeOnFriday && DayOfWeek()==5)
{
Comment("TradeOnfriday is False");
return(0);
}
}

................................... ................................... ..........
}

if (PreviousOpenOrders>OpenOrders)
{
ContinueOpening = false;
for(cnt=OrdersTotal()-1;cnt>=0;cnt--)
{
if (OrderSelect(cnt, SELECT_BY_POS, MODE_TRADES))
{
mode=OrderType();
if ((OrderSymbol()==Symbol() && OrderMagicNumber() == MagicNumber) || AllSymbolsProtect)
{
if (mode==OP_BUY || mode==OP_SELL)
{
OrderClose(OrderTicket(),OrderLots( ),OrderClosePrice(),slippage,Arrows Color);
return(0);
}
}
}
}
for(cnt=0;cnt<OrdersTotal();cnt++)
{
if (OrderSelect(cnt, SELECT_BY_POS, MODE_TRADES))
{
mode=OrderType();
if ((OrderSymbol()==Symbol() && OrderMagicNumber() == MagicNumber) || AllSymbolsProtect)
{
if (mode==OP_SELLLIMIT || mode==OP_BUYLIMIT || mode==OP_BUYSTOP || mode==OP_SELLSTOP)
{
OrderDelete(OrderTicket());
return(0);
}
}
}
}
}
PreviousOpenOrders=OpenOrders;

if (OpenOrders>=MaxTrades)
{
ContinueOpening=False;
} else {

ContinueOpening=(isTPSL==False);
}
Delete the next line and bracket

OK a good day.
TAKE PROFITS
aud/cad, +45
aud/nzd +39
Eur/cad +101
Eur/usd + 0
CLOSED FOR LOSS

OPEN TRADES

gbp/usd -187 -13


TOTALS
total for day +185
+672for the week
+672 for the month
Carry over -200

primary trades
BUYS usd/chf
SELLS eur/usd


Secondary trades
BUYS

SELLS

OK my top 11 pairs and alternates:
This gives me 2 of each: aud, cad, chf, gbp, nzd,
4 of each eur, usd, jpy

aud/cad - aud/nzd this matches minor or commodity currencies together. As I have stated before minor currencies can get squashed by the larger currencies.

chf/jpy - eur/jpy - eur/usd - eur/cad - eur/nzd

gbp/jpy - gbp/usd - usd/chf - usd/jpy

Alternatives: the aud/jpy, eur/jpy, are all similiar so choose one. The Aud/jpy is not as volatile as the gbp/jpy if you want less movement but still like some volatility but it will do long trends more. The most important thing is you dont want to be heavily investment into any one currency. If the EUR/NZD is too volatile for your tastes you can replace it with nzd/chf or nzd/jpy. I just happen to like the eur/nzd pair and the way it flies around the chart.

Most volatile pairs: eur/nzd and gbp/jpy can be replaced with aud/jpy nzd/jpy nzd/chf for less volatility.

Dear Customer,

Thank you for contacting us regarding new margin requirements. Beginning November 29, 2009, any clients who have a leverage higher than 100:1 will have their leverage lowered to 100:1 as per the NFA's new rule regarding margin requirements.

We will also send out more information to clients that may be affected by this as we get closer to the deadline.

If you have any further questions, feel free to contact us anytime.

Kind Regards,
Carl Gierisch
Interbank FX

QUIET DAY, NOTHING HAPPENED.
TAKE PROFITS

CLOSED FOR LOSS

OPEN TRADES
eur/usd +6
gbp/usd -167 +7
usd/chf -1

TOTALS
total for day +0
+672for the week
+672 for the month
Carry over -155

primary trades
BUYS USD/JPY
SELLS


Secondary trades
BUYS

SELLS

OK my top 11 pairs and alternates:
This gives me 2 of each: aud, cad, chf, gbp, nzd,
4 of each eur, usd, jpy

aud/cad - aud/nzd this matches minor or commodity currencies together. As I have stated before minor currencies can get squashed by the larger currencies.

chf/jpy - eur/jpy - eur/usd - eur/cad - eur/nzd

gbp/jpy - gbp/usd - usd/chf - usd/jpy

Alternatives: the aud/jpy, eur/jpy, are all similiar so choose one. The Aud/jpy is not as volatile as the gbp/jpy if you want less movement but still like some volatility but it will do long trends more. The most important thing is you dont want to be heavily investment into any one currency. If the EUR/NZD is too volatile for your tastes you can replace it with nzd/chf or nzd/jpy. I just happen to like the eur/nzd pair and the way it flies around the chart.

Most volatile pairs: eur/nzd and gbp/jpy can be replaced with aud/jpy nzd/jpy nzd/chf for less volatility. [/quote]

Dont see a whole lot happening so will go play baseball today. If you want to trade something the AUD/CHF is the only trade I see.
TAKE PROFITS

CLOSED FOR LOSS

OPEN TRADES
eur/cad -11

TOTALS
total for day +0
+816 for the week
+816 for the month
Carry over 0

primary trades
BUYS
SELLS


Secondary trades
BUYS

SELLS

OK my top 11 pairs and alternates:
This gives me 2 of each: aud, cad, chf, gbp, nzd,
4 of each eur, usd, jpy

aud/cad - aud/nzd this matches minor or commodity currencies together. As I have stated before minor currencies can get squashed by the larger currencies.

chf/jpy - eur/jpy - eur/usd - eur/cad - eur/nzd

gbp/jpy - gbp/usd - usd/chf - usd/jpy

Alternatives: the aud/jpy, eur/jpy, are all similiar so choose one. The Aud/jpy is not as volatile as the gbp/jpy if you want less movement but still like some volatility but it will do long trends more. The most important thing is you dont want to be heavily investment into any one currency. If the EUR/NZD is too volatile for your tastes you can replace it with nzd/chf or nzd/jpy. I just happen to like the eur/nzd pair and the way it flies around the chart.

Most volatile pairs: eur/nzd and gbp/jpy can be replaced with aud/jpy nzd/jpy nzd/chf for less volatility.

Hi Bob,

I am in EURAUD long at 1.61582. Now the price went against my position by 120 pip, and price is at the lower BB band with Red, blue & whie all below 15 line. My question is is this a good time to re-enter 2nd level ?

Reasons to re-enter are as follows:
1. Price below BB lower band
2. Red, whie & blue below 15 line

Reason not to re-enter:
1. Its only 120 pip away from my 1st level.

Another question i have is the margin used. I understand you say try to stay with in 15% of the capital. Is there any way to find out how much margin I have use everytime from ibfx ? I can see there is "margin", Free margin & margin level. Which one should I look at ?

Appreciate your attention.

Since it formed a resistance line I did an entrance there, if it had not formed a R I would wait for a deeper drop to reenter. Unless you have a very good reason you should always try to keep your reentries 150-250 pips apart. This would be an exception, not the rule, normally this would be too close but it is sound reasoning to reenter here. The main reason is it is at the bottom of the screen and to every trader in the world the screen is saying BUY me BUY me and to the sell traders it screams TAKE YOUR PROFIT, TAKE YOUR PROFIT. I would not do this reentery if price was more in the center of the screen. I think here it is a safe reentry. I hope I am right for both of us.

Once IBFX switches to 100:1 from 400:1 it is going to be very hard for me to stay in that 15-20% range. I am going to have to greatly increase my funds and not do as many trades at one time. I will have to play with the numbers and adjust. I will answer the other part of your question when I get home but I look at my total funds commited or my total in the lower right and compare that with my total funds in the account. So if I have 500 dollars in my account I would not want to have over 100 dollars as my DD. Once it gets past the 20% I start looking for ways to minimize my risk because once you pass that 40-50% level your funds can disappear very quickly and you have no room to manuever in adding levels. With IBFX you can have up to 3 accounts. I use two of them for trading and one for reserve funds in case I need some extra money quickly. If you tranfer funds from one account to another IBFX usually does this in a matter of minutes for you. I did that in the OCT. runnup when the gbp currencies ran on me. I had to add a couple of hundred so I could use my 2.4.2 recovery system successfully. After successfully minimizing those losses I dropped the number of pairs I traded and reduced the number of trades per currency I would do. That way I wont get my funds all tied up again. With this 100:1 ratio thing I will have to keep an eye onthese accounts to make sure I dont over margin them. Come the first week of December, I will reduce the number of trades I take, lessen my lot size and have my third account ready for transfers if I need. Until I get used to trading at this leaverage I will be very conservative with my funds. It is either that or send my money overseas. I am working on some improvements to lessen my DD but you never completely wipe that problem out in multi level trading.