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Nanningbob 4H trading system

  • #681
  • Edited 10:00pm Nov 23, 2009 7:32pm | Edited 10:00pm
From the pic two posts ago. If you want to check out my theory, Look at all the times price ran up or down the upper/lower BB bands. Almost every time price came from the middle of the screen and headed for the top or bottom of the screen. Like anything else, it is not 100% but it is pretty close. That is where my trading style is going.
  • #682
  • Nov 23, 2009 9:18pm Nov 23, 2009 9:18pm
It was a good day -

I can't see any trades coming up anywhere right now, will have to check again at the beginning of the Euro session.
  • #683
  • Nov 24, 2009 5:18am Nov 24, 2009 5:18am
Hi Bob,

I came cross here and find this system has very good potential. I start demoing this system from this Monday. I took same trade as you for EURNZD and GBPJPY, grasp nice profit and run. Million thanks to Bob to start this great thread.

and I bilieve your post is referring to Nov. 23 trades, correct? Today, so far no good setup, as you said, GBPJPY, EURGBP, GBPCHF, EURNZD, GBPUSD setup are forming. maybe good for enter in middle of US session or post US session.

Henry


Quoting nanningbob
Nice solid trade day. Wish this would happen every day.
TAKE PROFITS
aud/nzd...
[/quote]
  • #684
  • Nov 24, 2009 7:37am Nov 24, 2009 7:37am
Quoting henryloving
Hi Bob,

I came cross here and find this system has very good potential. I start demoing this system from this Monday. I took same trade as you for EURNZD and GBPJPY, grasp nice profit and run. Million thanks to Bob to start this great thread.

and I bilieve your post is referring to Nov. 23 trades, correct? Today, so far no good setup, as you said, GBPJPY, EURGBP, GBPCHF, EURNZD, GBPUSD setup are forming. maybe good for enter in middle of US session or post US session.

Henry

[/quote]

Yes that is correct. I am in the eur/usd and turned on the ea for eur/nzd aud/nzd, and gbp/jpy. They either have qualified as secondary trades or are about to qualify. I post my trade decisions every day just before the JPY session so you can follow along and get the hang of the system.
  • #685
  • Edited 6:37pm Nov 24, 2009 6:15pm | Edited 6:37pm
Lots of trades out there today, pick and choose. Have fun. Since there is a major USA holiday Thursday prices have a tendency to just bounce around in a small range around holiday time. Also, a lot of currencies are near overbought/oversold and I suspect some profit taking before the holiday so looking for a good day. Hope I am right. The other scenario is they will just drift for the next couple of days so profits or DD should be low.
TAKE PROFITS
eur/usd +61
CLOSED FOR LOSS
OPEN TRADES
AUD/NZD not entered

TOTALS
total for day +61
+390 for the week
+1451 for the month
Carry over 0

primary trades
BUYS eur/chf, gbp/chf, gbp/jpy, nzd/chf
SELLS aud/nzd, eur/aud, eur/nzd
Secondary trades
BUYS aud/jpy, nzd/jpy, nzd/usd, usd/chf, usd/jpy
SELLS eur/usd, gbp/nzd

Watch these
eur/nzd and gbp/jpy may set up as trades again. Look for that double or triple top or bottom. Same thing eur/aud and 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. __________________
I no longer trade usd/sgd. It is going to 25:1 leverage, simply not worth using up that much margin for a slow mover like that.
GIVE A MAN A FISH, YOU FEED HIM FOR A DAY; TEACH A MAN TO FISH, YOU FEED HIM FOR A LIFETIME.
  • #686
  • Nov 25, 2009 7:41am Nov 25, 2009 7:41am
Just to let you guys know. The changes to the EA in post 613 do work. This doesn't allow the EA to reenter after a TP occurs but it still allows L2 nd L3 trades to kick in. This has made my trading a lot easier by not worrying about being near the computer to stop a reentry from occurring when I'm close to a TP. When I see a good setup, I turn EA on , TP set at 50 with no worry of reentry. I take my 50 pips and run. If trade goes to L2 I adjust both TP's .
  • #687
  • Nov 25, 2009 8:12am Nov 25, 2009 8:12am
Thanks a lot for your quick reply, sure, I will follow along with your trade.

Yes that is correct. I am in the eur/usd and turned on the ea for eur/nzd aud/nzd, and gbp/jpy. They either have qualified as secondary trades or are about to qualify. I post my trade decisions every day just before the JPY session so you can follow along and get the hang of the system.[/quote]
  • #688
  • Nov 25, 2009 8:46am Nov 25, 2009 8:46am
Hi All,

I want to have a infomation panel indicator which give me information about high to low, pips to open, spread, market session open/close time, time till bar close, ATR etc.

Is there any existing indicator for that or anything I can start with?

Much appreicated for your help, you know, not inventing the wheel http://cdn.forexfactory.com/images/s.../yim/happy.gif

Thanks
Henry
  • #689
  • Nov 25, 2009 8:50am Nov 25, 2009 8:50am
Hi Toothman, sounds like a good idea, I will incorporate the change into Bob's EA.

I have another enhancement idea, set tp to 20 period ATR and get half out when TP is hit, and let another half run with a 20 period ATR trailing stop. What do you think?

I am not sure if setting SL to recent swing high or low is a good idea. Since this system has a great win ration. how about not using 242 recovery but just a set a tighter SL to recent high and low. I would like to hear about Bob's comments.

Thanks
Henry

Quoting Toothman
Just to let you guys know. The changes to the EA in post 613 do work. This doesn't allow the EA to reenter after a TP occurs but it still allows L2 nd L3 trades to kick in. This has made my trading a lot easier by not worrying about being near the computer to stop a reentry from occurring when I'm close to a TP. When I see a good setup, I turn EA on , TP set at 50 with no worry of reentry. I take my 50 pips and run. If trade goes to L2 I adjust both TP's .
  • #690
  • Nov 25, 2009 4:54pm Nov 25, 2009 4:54pm
EA is doing its job, 4 trades not entered yet, that is good. I dont expect big profits because of the holidays so most of these trades will be for small pip profits. If it wasnt for the holidays I would not have entered this many trades but I am not expecting anything to be jumping much so I am in. See what happens. 100:1 leverage is coming Just a word of advice the nzd pairs usually profit around 50+ pips except the gbp/nzd and eur/nzd. Those can be big gainers when they move. If most of these pairs move into profit today, I will take them and close down for the week.
TAKE PROFITS
eur/aud, +10
nzd/usd +54
CLOSED FOR LOSS
OPEN TRADES
aud/jpy, -10
AUD/NZD -53
eur/chf, not entered
 eur/usd, not entered
eur/nzd -89
gbp/chf, -57
gbp/jpy -101
gbp/nzd +19
nzd/chf -53
nzd/jpy, -59
usd/chf, not entered
usd/jpynot entered

BUYS ,

BUYS
SELLS

TOTALS
total for day +64
+454 for the week
+1515 for the month
Carry over -403

primary trades
BUYS
SELLS eur/gbp
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. __________________
I no longer trade usd/sgd. It is going to 25:1 leverage, simply not worth using up that much margin for a slow mover like that.
  • #691
  • Nov 25, 2009 6:12pm Nov 25, 2009 6:12pm
Lots of set ups starting to look good, will look for entry on the 3x3 cross.

I have these waiting for the crossover:

Buy - usd/chf, usd/cad, eur/chf

Sell - eur/sud

And setups that are looking good are:

Buy - gbp/chf, gbp/cad, gpb/yen.

Current position is on eur/nzd, currently -124 pips. I'm going to try out the recovery system on this one, will re-buy once I'm -200 and see how it goes.
  • #692
  • Nov 25, 2009 6:59pm Nov 25, 2009 6:59pm
Quoting scottik187
Lots of set ups starting to look good, will look for entry on the 3x3 cross.

I have these waiting for the crossover:

Buy - usd/chf, usd/cad, eur/chf

Sell - eur/sud

And setups that are looking good are:

Buy - gbp/chf, gbp/cad, gpb/yen.

Current position is on eur/nzd, currently -124 pips. I'm going to try out the recovery system on this one, will re-buy once I'm -200 and see how it goes.
You will find out the eur/nzd swings quickly, to try to single entry this currency would drive you crazy but to multiple entry it, I have found very profitable. NZD news comes out at 9 and it looks like the market is setup for good NZD news. That will cause the reversal or profit taking. If not we wait until it does.
  • #693
  • Nov 25, 2009 8:00pm Nov 25, 2009 8:00pm
Quoting nanningbob
You will find out the eur/nzd swings quickly, to try to single entry this currency would drive you crazy but to multiple entry it, I have found very profitable. NZD news comes out at 9 and it looks like the market is setup for good NZD news. That will cause the reversal or profit taking. If not we wait until it does.
thanks for the input - i can see how one entry would drive you crazy already -
  • #694
  • Nov 25, 2009 8:06pm Nov 25, 2009 8:06pm
Sell just triggered on the eur/usd - looks like a nice set up.
  • #695
  • Nov 25, 2009 8:16pm Nov 25, 2009 8:16pm
Quoting scottik187
thanks for the input - i can see how one entry would drive you crazy already -
Well price is still going the wrong way. HMMMMM
  • #696
  • Nov 26, 2009 2:40am Nov 26, 2009 2:40am
What had happened with CHF? Especially GBPCHF...it reversed, spiked up entered the buy 4H 3x6 EA then going back down again. It should have entered the 2L 150 if I didn't disabled it.
EURCHF is also interesting...
  • #697
  • Nov 26, 2009 4:15am Nov 26, 2009 4:15am
Quoting Hien
What had happened with CHF? Especially GBPCHF...it reversed, spiked up entered the buy 4H 3x6 EA then going back down again. It should have entered the 2L 150 if I didn't disabled it.
EURCHF is also interesting...
Welcome to the world of GBP/chf. It loves to do that.
  • #698
  • Nov 26, 2009 1:34pm Nov 26, 2009 1:34pm
Quoting nanningbob
Welcome to the world of GBP/chf. It loves to do that.
Aahhhh...ok so that's why it is not in your top 11 pairs.
Thanks Bob.
  • #699
  • Nov 26, 2009 5:22pm Nov 26, 2009 5:22pm
Big movers and shakers this week!

Current positions:

eur/nzd: - 361 & -86. This is causing me some headaches, but is set up for sell again.
eur/usd: +136
aud/nzd: -33
usd/chf: +28
eur/chf: - 79

Lots of setups coming up -

BUYS: nzd/jpy, gpb/jpy, gbp/chf, eur/jpy, chf/jpy, aud/jpy, aud/chf, aud/cad. Also watching aud/usd, nzd/usd and gbp/usd.

SELLS: eur/aud.

The only issue for me is the fundamental strength of the YEN right now, in which case I won't be trading the really volatile pairs, or the ones where my spread is very large.

keep in mind im still only trading this on a demo account
  • #700
  • Nov 26, 2009 5:44pm Nov 26, 2009 5:44pm
NBob, that EUR/NZD is one volatile pair!!!

might stick clear of it in the future...you are very right about it's swings.
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