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Nanningbob 4H trading system

  • #841
  • Dec 31, 2009 3:36am Dec 31, 2009 3:36am
I finished out my trades. Even though it looks bad I did several scalp trades that made my losses much lighter than they appear. I posted this system last May and it was my first losing month. Just got caught on these long trends that just wouldn't retrace. The Good news is my account is healthy and ready for next year. In the past without the 2.4.2 recovery system I would severely damage an account but I am pleased for as bad as things went. Some of the pairs still have not retraced after three weeks so to me that is good news even though it was a bad spot on a good year.
TAKE PROFITS

CLOSED FOR LOSS
 aud/cad -232 -154 -35 +36
eur/cad -157 +52
eur/usd, -186 +4
usd/chf -92
usd/jpy -263 2L -10
OPEN TRADES


TOTALS
total for day
-1037 for the week
-1006 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.
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.
  • #842
  • Dec 31, 2009 3:44am Dec 31, 2009 3:44am
vote 50 for 47 against hmmmmmmmmmmmm eat these apples for 2009.

+5597 pips since Aug. 16 to Dec. 31.
Aug. 2009 Total +1020 pips
Sept. 2009 total +2651 pips p. 27 post #396
Oct. 2009 total + 1335 for the month P. 39 post #579 (This was our most difficult month so far but we survived and profited)
November 2009 +1628 (got hit the last couple of days on the Dubai news but still not a bad month)Pg. 48 post 709
December 2009 -1006 Dang those trends went 20+ days and some are still going.
2009 total pips +5597
I guess I can be happy with that.
  • #843
  • Dec 31, 2009 3:48am Dec 31, 2009 3:48am
Happy New Year's guys and remember to give the market a couple of days before trying to read the charts. If the market takes off in a certain direction just follow it until things go back to normal. I will start posting my positions publicly again on Jan. 11.
  • #844
  • Jan 1, 2010 9:54pm Jan 1, 2010 9:54pm
I am looking for someone that can code a simple indicator for me. Below is the code and all I want is for it to draw the lines on a screen. Should work in all TF. What I want is the ability to fix screen size for example if on a 1H chart it will only figure screen size for the last 4 days or only the last 4 days seen on the screen. To work in all TF that would be 4 time periods. For example 4H chart would be the last 4 weeks etc. I just havent been able to get the indicator to work and I am heading into finals at the schools at work at so I dont have time for the next 3 weeks to do this. Much appreciated if someone could do this. Plan on using this for this 4H trading method and another idea of using it for a trend following system. Below is the basic coding.

double WindowTop = WindowPriceMax();
double WindowBottom = WindowPriceMin();

double HalfWay = (WindowTop + WindowBottom) / 2;

double PriceFromTop = WindowTop - ((WindowTop - WindowBottom) * 0.25);

double PriceFromBottom = WindowBottom + ((WindowTop - WindowBottom) * 0.25);

//Draw lines using above values.
  • #845
  • Jan 1, 2010 9:58pm Jan 1, 2010 9:58pm
Here is a pic showing 4 time periods on a 4H chart and the indicator should base its information from the last 4 TP (time periods) or the 3 last completed TP ignoring the present TP. I dont know at this point which would work better.
Attached Image (click to enlarge)
Click to Enlarge Name: pic 1.gif Size: 19 KB
  • #846
  • Jan 1, 2010 10:00pm Jan 1, 2010 10:00pm
Showing a eur/nzd 4H screen the distance from top to bottom is 1207 pips. I will use 1200 to illustrate what I want it to do.
Attached Image (click to enlarge)
Click to Enlarge Name: pic 2.gif Size: 17 KB
  • #847
  • Jan 1, 2010 10:03pm Jan 1, 2010 10:03pm
The indicator will then draw lines based on percentages entered. This screen we are asking it to do 25% 50% and 75%. It could also do 20 % 80% or 10% 90%. etc. The indicator then will play a sound and post a message when the top or bottom lines are crossed. Of course some of you can see where I am going with this.
Attached Image (click to enlarge)
Click to Enlarge Name: pic 3.gif Size: 21 KB
  • #848
  • Jan 1, 2010 10:09pm Jan 1, 2010 10:09pm
Then in the left hand corner with abbreviations and smaller lettering it will post the information of distance from top to bottom and top to top line and bottom to bottom line. This info should help you in figuring out reentry numbers for each pair. For example the distance is 300 pips for eur/nzd so our reentries will be between 2-300 pips. Other pairs would be smaller etc.
Attached Image (click to enlarge)
Click to Enlarge Name: pic 4.gif Size: 21 KB
  • #849
  • Jan 1, 2010 10:12pm Jan 1, 2010 10:12pm
So my use for this indicator would be for this system and another one I am working on. Thanks for anyones help or input. NANNINGBOB.
  • #850
  • Edited 9:37pm Jan 2, 2010 9:10pm | Edited 9:37pm
Hypothetical question here. Say you've entered a trade and it goes against you badly. There have been no good retraces and you have dropped a couple, levels using the 242 strategy. You've taken substantial losses but still no point to exit. If you look at the EUR/USD in early Dec. 2008 this scenario occurs. Would you keep dropping a level using the 242 strategy or would you close all trades at the break of a S/R level and give the pair a rest for awhile? Either way, this could lead to huge losses. I'm thinking the only way out would have been to try to cancel some of these losses with wins on other pairs and bite the bullet on the E/U.
  • #851
  • Edited 2:20am Jan 3, 2010 2:10am | Edited 2:20am
Quoting Toothman
Hypothetical question here. Say you've entered a trade and it goes against you badly. There have been no good retraces and you have dropped a couple,...
I did all three the last week of December. I was hit by the eur/cad, eur/usd, usd/jpy, usd/chf. All of them went on 3 week with no major retraces. I finally took 2300 pips in losses (I was +1300 for the month and ended up -1000). Yes I offset some of that with winners but you can see from my monthly total that it was not a good two weeks there. I finally on the eur/usd just took a loss at a minimum retrace. That was just plain ugly. As you know the long drawn out trend run that moves slowly and never retraces is the biggest killer of my systems. See the pic below as I give the history of the trade and what I did. I think the biggest disservice I have done you guys is not do a daily on my losing streak. It should have been a good teaching tool watching me handle these type of losses. I regret now not doing that. Excellent question.

As you can see I had opportunities to take out that trade without a big loss but I get arrogant and think I can get out of any losing situation. That is not always true and then I end up taking a much bigger loss than I should have. I really felt with a 3 hump divergance on a 4H chart (MACD line) I was looking at a nice winner but it did not happen. 90% of the time that would be true but with the upcoming holidays there just wasn't enough trading/business going on to make it happen. Some bad decision making and ignoring some very strong fundamentals. The big drop on Dec. 17th killed me on that trade. This is the one weakness of my system and happens rarely but we must understand it does happen.
Attached Image (click to enlarge)
Click to Enlarge Name: eur usd blank.gif Size: 33 KB
  • #852
  • Jan 3, 2010 4:12am Jan 3, 2010 4:12am
Quoting nanningbob
I did all three the last week of December. I was hit by the eur/cad, eur/usd, usd/jpy, usd/chf. All of them went on 3 week with no major retraces. I finally took 2300 pips in losses (I was +1300 for the month and ended up -1000). Yes I offset some of that with winners but you can see from my monthly total that it was not a good two weeks there. I finally on the eur/usd just took a loss at a minimum retrace. That was just plain ugly. As you know the long drawn out trend run that moves slowly and never retraces is the biggest killer of my systems....

hello .... Professor nanningbob is a long time since I write.
Let me repeat to you today something which I have already proposed about 18 months ago.
Maybe today you could read it with different eyes.
At least I hope so.
My writing is three years old and repropose as it was born at that time.
Please do let me know what you think.
It could be a lifeline?
hello
Romano
Attached Image (click to enlarge)
Click to Enlarge Name: FOTO_10_nanningbob.png Size: 203 KB
Attached File(s)
File Type: doc CELLULE DINAMICO-ADATTIVE.doc   32 KB | 361 downloads
  • #853
  • Jan 3, 2010 5:16am Jan 3, 2010 5:16am
Quoting Romano
hello .... Professor nanningbob is a long time since I write.
Let me repeat to you today something which I have already proposed about 18 months ago.
Maybe today you could read it with different eyes.
At least I hope so.
My writing is three years old and repropose as it was born at that time.
Please do let me know what you think.
It could be a lifeline?
hello
Romano
Excellent ideas, however, we in the USA can no longer hedge. I had developed a trading system buying a buy and sell at the same time. I would then take profit no matter which direction price went and using half of the winning position to close 40% of the losing position. I would then hedge again and waited until one position profited enough to take away half of a losing position. I would then try to trade out the last part of the losing position. It worked well in my testing but because hedging was banned by the NFA I was no longer able to trade. I loved hedging. I could walk away from my computer at any time and pick up the trade at another time. It gave you a chance to regroup yourself and overcome your negative thoughts and feelings. I could wait until the market gave me a better decision point to trade again. Yes I agree with your thoughts and think they are excellent. We just cant do that anymore with a USA broker and many foreign brokers dont want to take USA clients now. So we are stuck for now. Thanks for the great input.
  • #854
  • Jan 3, 2010 5:45am Jan 3, 2010 5:45am
Here is my lament about the loss of hedging and some of my thoughts about the NFA:

P. 55 post 822 I give an example of why I think the NFA are a bunch of loonies for banning hedging. I give a perfect example of why hedging is a valuable trading tool and a perfect time to use it. I don't like what the markets do at holiday times, so I can hedge my trades and come back after to trade again without taking unnecessary risks. Now I have to take some risks to protect my account. Stupid NFA.

Because I could not hedge my positions just before Christmas I lost my 1300 pips profit I had and my losses continued. I would rather have hedged all my positions and come back after the new year and kept my 1300 pip profit for December. I never would have gotten so deep in the hole if I could have done that. So I dont want any idiots coming on my thread talking about how they cant see how hedging is a benefit for the trader and the NFA is trying to protect traders from themselves. My position is the NFA is trying to force traders into a certain trading style of trading not protecting me from brokers. Banning hedging is a benefit to brokers because now certain trading styles, like mine, have to take deep losses instead of hedging until we get more favorable trading scenarios. Sorry to rant and rave.
  • #855
  • Jan 3, 2010 11:41am Jan 3, 2010 11:41am
Quoting nanningbob
Here is my lament about the loss of hedging and some of my thoughts about the NFA:

[color=DarkSlateGray][color=Magenta][b][color=black][color=DimGray][color=Blue][color=DarkSlateBlue][color=SeaGreen][color=Red]P. 55 post 822 I give an example of why I think the NFA are a bunch of loonies for banning hedging. I give a perfect example of why hedging is a valuable trading tool and a perfect time to use it. I don't like what the markets do at holiday times, so I can hedge my trades and come back after to trade again without taking unnecessary risks....
Hi Professor
I do not know if you're interested, but this is a list of brokers in London.

http://www.forexpros.it/directory/br...etter_prefix=i

There are also alpari and Interbank, of all people are hundreds.
Just make the payment in U.S. dollars or euros on the London office and the problem of the hedge is terminated. Here NFA can not do anything.
You just have to be careful when they use it or not, the platform Metatrader. Not everyone use it.
The same brokers adopt different strategies tradin between America and Europe.
hello
Romano
  • #856
  • Jan 3, 2010 5:36pm Jan 3, 2010 5:36pm
Hi bob,

I'm back from my christmas break and will be trading this system on a real account asap.

Unfortunately I can't help with the indicator...looks like an interesting idea though!
  • #857
  • Jan 3, 2010 6:46pm Jan 3, 2010 6:46pm
Quoting Romano
Hi Professor
I do not know if you're interested, but this is a list of brokers in London.

http://www.forexpros.it/directory/br...etter_prefix=i

There are also alpari and Interbank, of all people are hundreds.
Just make the payment in U.S. dollars or euros on the London office and the problem of the hedge is terminated. Here NFA can not do anything.
You just have to be careful when they use it or not, the platform Metatrader. Not everyone use it.
The same brokers adopt different strategies tradin between America and...
Thanks for the help. The problem is finding one that will take US clients. I dont think Alpari UK takes US clients and many of the others do not either.
  • #858
  • Jan 3, 2010 8:13pm Jan 3, 2010 8:13pm
Quoting nanningbob
Thanks for the help. The problem is finding one that will take US clients. I dont think Alpari UK takes US clients and many of the others do not either.
For anyone not aware, FX Solutions Australia accepts US. citizens. 400:1 leverage, allows hedging, has fixed spreads and uses the MT4 platform. 10 cents a pip is the minimum trade size. They'll also let you trade through a retirement account.
  • #859
  • Jan 4, 2010 12:17am Jan 4, 2010 12:17am
After downloading the files... I have placed the files into the required folders, but do not have the same results as your screen shows w/ the "expert folder",

The Stochastic/MACD is missing "white" line

The Yellow "80, 50 & 15" are not visible

The "Expert Advisor" does not show the Buy & Sell EA symbols

Can you advise me which files go into the specific folders...
  • #860
  • Jan 4, 2010 7:48am Jan 4, 2010 7:48am
Quoting daywalker
After downloading the files... I have placed the files into the required folders, but do not have the same results as your screen shows w/ the "expert folder",

The Stochastic/MACD is missing "white" line

The Yellow "80, 50 & 15" are not visible

The "Expert Advisor" does not show the Buy & Sell EA symbols

Can you advise me which files go into the specific folders...
Download teh MACD true from pg 1 post 1 and add it to the indicators folder. The others sound like they maybe in the wrong folders. Make sure your EAs are in the EA folder.
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