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Nanningbob 4H trading system

  • #721
  • Dec 2, 2009 8:07pm Dec 2, 2009 8:07pm
I just opened a SELL on the aud/nzd on the 3x3 crossover, with the triple top formation at resistance, and the white and blue lines above 85.

I know that you don't include other indicators with this system, but I also noted that the RSI on the aud/nzd is in a downtrend while the price keeps topping out at this level, and also the red MACD line lower than it was previously at this price.

To me, this adds weight to the secondary trade sell signal in this case.
  • #722
  • Dec 2, 2009 11:17pm Dec 2, 2009 11:17pm
Quoting scottik187
I just opened a SELL on the aud/nzd on the 3x3 crossover, with the triple top formation at resistance, and the white and blue lines above 85.

I know that you don't include other indicators with this system, but I also noted that the RSI on the aud/nzd is in a downtrend while the price keeps topping out at this level, and also the red MACD line lower than it was previously at this price.

To me, this adds weight to the secondary trade sell signal in this case.
You probably have heard me say this before but all indicators are based on MA with different kinds of Math formulas. Then they use different types ways to picture the results, lines, bars, etc. So when one shows a signal almost all will show the same signal. For example when the RSI crosses the 70 or 30 line that is about the same time it hits the top or bottom of a BB band. They just used different formulas and MA numbers to show their results or how they picture the information. So that is a very good observation. The R,W,B lines of my system use MACD and 2 STO lines. MACD is a slow indicator and is late in its signals. Stochastics are too fast and get you in too early, I have found when you combine the two, when the ones indicating too quickly (the two sto) cross the one going too slow (MACD) you have a fairly good indicator. Not perfect but close enough to signal an EA with a MA cross to get you in the trade in good shape the majority of the time. After that we cover our butts by multi level trading and if price defeats that we go to the 2.4.2 recovery system and try to 0 out the trade. Combined together, you have a system that rarely takes a big loss but wins enough, often enough that if you are ever hit with a big loss, (like I did last week with the gbp/nzd) or you needed to get out of a difficult trade (eur/nzd last week), there were more than enough winners to cover the loss. That is the philosophy of this trading system in a nutshell.
  • #723
  • Dec 3, 2009 7:48am Dec 3, 2009 7:48am
Bob, Can you tell me what might have not let this trade trigger? 3x3 has crossed and price is below cross.
Attached Image (click to enlarge)
Click to Enlarge Name: chart 2.gif Size: 24 KB
  • #724
  • Dec 3, 2009 8:52am Dec 3, 2009 8:52am
Quoting Toothman
Bob, Can you tell me what might have not let this trade trigger? 3x3 has crossed and price is below cross.
It is hard to see but price does not enter until the average of the last 3 bars is below the MA line. In other words price has to be below the MA line before the average crosses it. So if the last line is 6 the average must be below that, so if your last 3 lines are 7,8 the third number must be a 2 to get the average below 6. 17 divided by 3 is less than 6. The bigger the MA numbers are the lower price must be below the line before the average crosses it. I hope this makes sense. Its a math computation. However, by what I see from the pic price should have entered. Dont know at this point.
  • #725
  • Dec 3, 2009 1:58pm Dec 3, 2009 1:58pm
For some reason EA stopped trading on my FXSolutions Aus. demo. I opened a new account and trades are happening again. Haven't had any problems in the prior two months with them. They couldn't explain what was keeping EA from working. Will keep a closer eye on this when the real money is on the table.
  • #726
  • Dec 3, 2009 4:25pm Dec 3, 2009 4:25pm
Current positions:

aud/nzd: -12

I think i missed a cpl trades last night, but too late to enter now. Will sit and wait.
  • #727
  • Dec 3, 2009 5:59pm Dec 3, 2009 5:59pm
OK looks like an aud and jpy crossing pairs day so let it fly. If price moves to overbought and over sold positions before tonight's announcement on many pairs, that is a predictor of where traders think the news is going. If price moves to the center, that is kind of a predictor that they dont know. If you are into the aud and jpy like I am and price moves to the center during the day take your profits before the USA morning news stories or take half and set up a profitable SL. If price stays all day in overbought and oversold territory, you are sitting in good shape and hopefully there will be no surprises. This observation of mine over the years has been a pretty good indicator of news price movement but it doesnt always hold true. News stories will surprise you. Like last week I was playing too many currencies because it was a major holiday week. I was not expecting price to do any major moves. Dubai news hit and bang we are deep in the hole. Anyway happy trading.

TAKE PROFITS
eur/usd +10 Price retraced on 2nd half of trade. Will not count this in the total since I already took the +38
CLOSED FOR LOSS

OPEN TRADES
aud/cad EA did not enter, this trade is beginning to look real nice.
aud/nzd 0 this one just entered
chf/jpy EA did not enter, this trade is beginning to look real nice.
eur/usd +12 retraced to 2nd trade position from the day before so I took it.

TOTALS
total for day +211
+211 for the week
+211for the month
Carry over 0

primary trades
BUYS

SELLS aud/jpy, eur/jpy

Secondary trades
BUYS
SELLS eur/usd

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.
[/quote]
  • #728
  • Dec 3, 2009 6:01pm Dec 3, 2009 6:01pm
Here are some classic primary trades. They dont look any better than this. Price has stalled and candle patterns are predicting a turnaround in price. PERFECT. aud/jpy and eur/jpy
Attached Image(s) (click to enlarge)
Click to Enlarge Name: aud jpy.gif Size: 13 KB
Click to Enlarge Name: eur jpy.gif Size: 13 KB
  • #729
  • Dec 3, 2009 6:12pm Dec 3, 2009 6:12pm
Here is a eur/usd secondary trade. I got +38 the last time. It retraced slightly higher and entered again. When price gets close to that support line I will take half profit and let the other half ride with a tight profitable SL of +10. I am looking for a break downward but fundamental traders are crying for dollar weakness so they will reenter at some point to move price back up again. However, just in case they are wrong I want the other half to take a shot at a nice drop just in case they give up in pushing price upwards. Just a reminder, a secondary trade is when we play close to a previous primary position. For the AUD/NZD and the EUR/USD we are playing off of last weeks primary trade high.

AUD/NZD showing a quad (4) top, kind of rare. Aud is showing weakness and NZD is showing weakness so we dont have to worry about price running anywhere. If both of these currencies go weak it will be interesting to see which one loses more.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eur usd.gif Size: 17 KB
Click to Enlarge Name: aud nzd.gif Size: 19 KB
  • #730
  • Edited 6:40pm Dec 3, 2009 6:25pm | Edited 6:40pm
thanks again for the updates on signals with the system.

I just took both the eur/jpy and the aud/jpy shorts. My initial thought was that entering now would be a little late because the white line has moved below the 85 level, but you mentioned yesterday how stoc lines do move to fast...thus the opportunity to trade is still there.

Actually...my chart doesn't look as nice as yours at all...the brokers price action is a lot choppier than yours. My signals definitely are not as clear in this case.
  • #731
  • Dec 3, 2009 7:10pm Dec 3, 2009 7:10pm
Quoting scottik187
thanks again for the updates on signals with the system.

I just took both the eur/jpy and the aud/jpy shorts. My initial thought was that entering now would be a little late because the white line has moved below the 85 level, but you mentioned yesterday how stoc lines do move to fast...thus the opportunity to trade is still there.

Actually...my chart doesn't look as nice as yours at all...the brokers price action is a lot choppier than yours. My signals definitely are not as clear in this case.
You can also play off the S/R lines in such a case. I want to write more about that later. I took a trade by placing a pending order off of an R line. Price is so high on the chart I just feel that is a real good trade.
  • #732
  • Dec 3, 2009 8:36pm Dec 3, 2009 8:36pm
just went short on the chf/jpy then - thats 3 yen pairs that I'm short on.
  • #733
  • Edited 11:00pm Dec 4, 2009 7:59pm | Edited 11:00pm
LOL just when you see the perfect setup price goes up a little higher. Typical FOREX. Still like those jpy trades though. Be careful you dont get too loaded in JPY pairs. They all look too good to be true. Even though there will be profit taking Monday, JPY could go on a run and you dont want to get buried. So choose the best 2 or 3 and ride the wave. Me I am stupid and will play them all but at a smaller lot size. Beautiful sunny day today going out and relax, maybe do some Christmas shopping.

TAKE PROFITS
aud/cad +111
eur/usd +5 this sucked. I set a SL at +5 because I had to go out for day and it hit the TP and went 200+ pips down.
CLOSED FOR LOSS

OPEN TRADES
aud/nzd +9 this one went nowhere
chf/jpy -58 this trade still looks real nice.
aud/jpy, -122 will add 2nd levels monday after the gaps if needed
eur/jpy -146 will add 2nd levels monday after the gaps if needed


TOTALS
total for day +116
+327 for the week
+327 for the month
Carry over -317

primary trades
BUYS eur/usd look for a rebound from the dollar bears monday. They have been preaching dollar weakness for a long time. To me it is just going to bounce around until the economies get going.

SELLS gbp/jpy, usd/jpy, usd/chf
usd/chf, eur/usd note: enter as soon as the market opens off of the present price, if you can get it. I am thinking traders taking quick profits on this one and then close quickly afterwards. You shouldnt be in this trade very long, couple hours at most. I dont think the USD will go into a long trend but it could, I think there are just too many dollar bears out there to worry about it going strong right now. But if price does go weak again for the dollar you may want to ride it for a while. So look for a quick profit Monday and then see if the Dollar goes weak again. If it does take the ride above 150

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.
  • #734
  • Dec 5, 2009 8:45pm Dec 5, 2009 8:45pm
Hi Bob,

Merry Christmas, Bob. Thanks a lot for your patience to teach us. May I propose a small suggestion on your journal format?

Below part should be the past trade, would you please mark the entry day?

TAKE PROFITS
aud/cad +111
eur/usd +5 this sucked. I set a SL at +5 because I had to go out for day and it hit the TP and went 200+ pips down.
CLOSED FOR LOSS

something like this: It would be much appreciated if you could add bold part.

12/4 trade
TAKE PROFITS
aud/cad +111, [secondary trade, entry price: ]
eur/usd +5 this sucked. I set a SL at +5 because I had to go out for day and it hit the TP and went 200+ pips down.
CLOSED FOR LOSS

below part is your outlook for future trade? in this case, next week trade? If so, can you please add a [Outlook for xxx date] mark? It could make us easily to follow


[Outlook for xxx date]
primary trades
BUYS eur/usd look for a rebound from the dollar bears monday. They have been preaching dollar weakness for a long time. To me it is just going to bounce around until the economies get going.

SELLS gbp/jpy, usd/jpy, usd/chf
usd/chf, eur/usd note: enter as soon as the market opens off of the present price, if you can get it. I am thinking traders taking quick profits on this one and then close quickly afterwards. You shouldnt be in this trade very long, couple hours at most. I dont think the USD will go into a long trend but it could, I think there are just too many dollar bears out there to worry about it going strong right now. But if price does go weak again for the dollar you may want to ride it for a while. So look for a quick profit Monday and then see if the Dollar goes weak again. If it does take the ride above 150

Secondary trades
BUYS
SELLS



Quoting nanningbob
[font=Times New Roman][size=3][color=Black]LOL just when you see the perfect setup price goes up a little higher. Typical FOREX. Still like those jpy trades though. Be careful you dont get too loaded in JPY pairs. They all look too good to be true. Even though there will be profit taking Monday, JPY could go on a run and you dont want to get buried. So choose the best 2 or 3 and ride the wave. Me I am stupid and will play them all but at a smaller lot size. Beautiful sunny day today going out and relax, maybe do some Christmas shopping. [u][b]

TAKE...
  • #735
  • Dec 6, 2009 4:28pm Dec 6, 2009 4:28pm
lots of setups going today - I've loade dup to the JPY pairs also, lol...can't help myself.

aud/jpy: -137 +1
aud/nzd: +8
chf/jpy: -76 -13
eur/jpy: -159 -12
eur/usd:-2
gpb/jpy: -22
nzd/jpy: -10
usd/chf: - 8

so, there you have it...a short lesson on how to totally overload yourself on the Japanese Yen. Could see the demo go bust if things don't move my direction
  • #736
  • Dec 6, 2009 7:09pm Dec 6, 2009 7:09pm
Quoting henryloving
Hi Bob,

Merry Christmas, Bob. Thanks a lot for your patience to teach us. May I propose a small suggestion on your journal format?

Below part should be the past trade, would you please mark the entry day?

TAKE PROFITS
aud/cad +111
[i][size=2]eur/usd +5 this sucked. I set a SL at +5 because I had to go out for day and it hit the TP and...
Appreciate your suggestions. The matter maybe more of time than ability. I get up here in China in the morning just for the JPY session and I make my calls then go to work. I check again at lunch and also when I get home. If I have time the first suggestion maybe be able towork out but the second one will be more difficult to do. You are asking me to predict the future more than one day in advance and that is not something I do. I see the setups and let the EA do its thing. Secondary trades are entered by the EA or if I happent to be at the screen at the time they are there. Most of my manually entered trades are done in the morning just before the JPY session. I seldom do them during the day but I have. So I will see how it goes.
  • #737
  • Dec 6, 2009 7:57pm Dec 6, 2009 7:57pm
Quoting scottik187
lots of setups going today - I've loade dup to the JPY pairs also, lol...can't help myself.

aud/jpy: -137 +1
aud/nzd: +8
chf/jpy: -76 -13
eur/jpy: -159 -12
eur/usd:-2
gpb/jpy: -22
nzd/jpy: -10
usd/chf: - 8

so, there you have it...a short lesson on how to totally overload yourself on the Japanese Yen. Could see the demo go bust if things don't move my direction
The whole key to trading my system is to trade small enough lots so you can use the 2.4.2 recovery system if things go against you. Since I have changed my strategy to only trade high or low on the screen I have not needed to use it. My AUD trades from Sept. and the GBP trades of Oct. were all trades taken in the middle of the screen though the R,W,B signals were there. As you have noticed I have mentioned trades that qualify as R,W,B trades but I no longer take middle of the screen trades. So at this time, under my new theory, we may not need the 2.4.2 recovery. Either way we should stay within the boundaries of sound financial trading and not overextend ourselves. I entered all the JPY pairs also but reduced my lot sizes so if I do need to go to multiple 2.4.2 recovery trades I am able to do it.
  • #738
  • Dec 6, 2009 8:20pm Dec 6, 2009 8:20pm
Quoting nanningbob
The whole key to trading my system is to trade small enough lots so you can use the 2.4.2 recovery system if things go against you. Since I have changed my strategy to only trade high or low on the screen I have not needed to use it. My AUD trades from Sept. and the GBP trades of Oct. were all trades taken in the middle of the screen though the R,W,B...
yep, gottcha.

My lot sizing was definitely to big for my balance here.

Will be moving to real money this week, or next...and then look forward to many pips in the new year.
  • #739
  • Dec 6, 2009 9:37pm Dec 6, 2009 9:37pm
closed my nzd/jpy position for +2, my exposure to the Yen was to large.

Happy that I got away with that.
  • #740
  • Dec 6, 2009 11:51pm Dec 6, 2009 11:51pm
Hi Nanningbob,

Am a newbie, have been on demo for more than a year. Presently, brushing up on PA. Came across your thread. Thot it would be nice if I can master it. However, not computer savy.
Have not tried any EA.

Does applying the EA means I've to on the computer 24hrs?

I've downloaded templates and indicators before.

By the names, I believe only one of them is a template. Not sure about the others. I downloaded the first one onto desktop. When attempting to open am prompted to fill in the Winrar (that I am expected to purchase the licence after free trial). On checking my files, I found that I already have a Winrar, believe it came with the OS when I bought my laptop.
Is this just some sort of manual and not an indicator or template. Is it OK to save this onto the desktop to be open for reading only. While I am at it, what is the number of your first thread, maybe I can visit to have better understanding.

So, it would be great if you could instruct me on how to download the rest.

Thanks for the dedication.

Wish all on this thread Blessed Pips!
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