Nanningbob 4H trading system

Hey bob -

Just wondering if you have any 5 digit templates set up at all?

I looked in the main 2nd Edition 5D folder and the template folder is empty...

Moved to a live account this week and just setting it up now.

EDIT: I just loaded a template up and it says "5 Digit" in the top corner...looks like it could be a go here.

Are you going to continue posting your trades every night?

Ok got it all set up only 11 pairs right now. The spreads are massive on some of the others so ill keep it simple for a while.

At the moment, the only trade I can see is a BUY on gpb/aud when it crosses.

I still don't think everyone has gone back to work just yet, so trading will still be weak this week, with it resuming again next week.

This could also be part of why those trends went for so long Bob and didn't reverse.

Excited for the new year trading this system.

I want to play safe with my public plays. So I will start posting Monday. Sometimes the first week of the year can be unpredictable, 2nd I want these long trends, which by the way I have never seen before, (3 week no major retrace trends and some still going, Eur/cad went almost 4 weeks) come to an end first. Once the market starts bouncing around again, I will be happy. My viewpoint is the NFA Friday will bring most of the traders, banks, and business back on board and we can expect some predictability back in the market. Now what I mean by that is there are retraces. That is my life's blood.

Also, dont get your hopes up but I am testing a trend trade to add to this system. After we capitalize on the retrace, if price keeps going and reverses, I think I may have found a great entrance point. I am going to be trying it over the next 3 weeks and if it looks good I will post it. This will be very simple, no multi level trades just continue follow the trend on a true reversal. It will have specific entrance, SL, TS moves but I havent decided what to do about exits yet. It looks good eyeballing yet but everything is different live when you dont have hidnsight on the chart. If I can consistantly win with it then I can teach it. So we try. It is just that you can spot things when price reverses off my system. Anyway I will try it and am working with a EA that will once again do the entrances for you and then you will monitor the trade. This has been on my mind about 2 months now and pieces are starting to fit together. I am somewhat excited about it but it looks good in December with these long trends. I want to see what happens to the system in a choppy market, that is the killer of all trending systems, choppy market. We love choppy markets. That is where I make my money and most of the time 70% or better the market is choppy. 30 % of the time it trends but many of them are short, by the time you recognize the trend it maybe too late to get in unless you do 1D chart ananlysis. Oh well I will quit rambling. HAPPY NEW YEAR.

EGADS!!! Dont try learning my system with gbp/aud, gbp/nzd, gbp/jpy, eur/nzd. They are killers unless you got deep pockets. I will trade the gbp/jpy and eur/nzd on occasion but not the others. They really move big time and can get you in the hole very quickly. They dont like to follow the charts and can go 2000 pip moves. I dont have that deep of pockets to play them. The NZD is a currency of a country of 4 million people. It can get crushed by the bigger currencies and be totally unforgiving. In my 7 year currency fact sheet the NZD cross pairs had the biggest one days moves ever with some going over 2000 pips in one day. The Aud is becoming a more powerful pair and doesnt quite get hosed as the NZD. As it continues to grow as a currency with trade in Asia it is less likely now to do that but remember that the big 3 USD, EUR, GBP can crush any of the other currencies. Just visit the charts on OCT. 2008 and see what the USD can do to other currencies when it has super big fundamental news. Unless your an Aussie and know your own currency very very well, I wouldnt recommend it.

Someone posted code on this thread or my 60x90 that allowed the EA to trade once and quick. Once it took profit it would not reenter. If the trade was close it did not continue. Does anyone know where I can get that code or do that for an EA for me??

Bob,
Here you go. I posted this in post 613 in this thread. Changes are in bold print. Remember to delete the last line and bracket. These changes work. I've been using them for over a month now.
http://cdn.forexfactory.com/images/icons/icon1.gif Here's how to stop EA from reentering
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

http://cdn.forexfactory.com/images/buttons/quote.gif

I am an Aussie, and I do know the currency fairly well!!!

I will definitely take you're advice about the NZD currencies, I got hammered on the demo last year on one, it just moves so so fast...as you have said.

I traded it for about a month late last year and did pretty well, I'm just going to make primary trades and others that I pick up on. Will keep posting my thoughts on a daily basis here, if for nothing else than to keep my engaged and focussed.

I have to set ups -

SELL: aud/usd

BUY: usd/cad

I won't be taking these trades though as I am not starting to trade until Monday when the markets returns to "normal".

would have seen a profit on those two trades if I had taken them.

Once again I'm having issues with the EA's...its this damn 5 digit broker!

signals:

sell: AUD/NZD

I will start posting my public trades this weekend for Monday. Most of the market is up and running again but there are still a few runners still going out there. Namely the AUD/JPY still hasnt retraced in the last 4 weeks. Most of the currencies have but will wait for Monday.

This is a chart of the last EUR/USD run. Here's how I plan to trade this strategy. Using Bob's guidelines, wait until red white and blue are at extremes, price is at top or bottom 1/3 of chart and then wait until an RSI (8) shows divergence. Would have been able to take 50 pips at each check mark on this run and never have to go to a L2 trade. My next to last check mark on the RSI is in the wrong place but you get the idea.

I would like to add to this EA a breakeven move of the SL and a +10 2nd move. This would help protect us in these short retrace moves in the long non-retrace trend. I have found an EA that has the coding but I need someone to move it to this EA. Any takers????

Thank you Mr. Toothman. Here is another change and makes a great read. Change the BB bands to:
1. 50 post the main line with Dev set at 2 shift 1.
2. 51 Dev. 3 shift 1 use dotted lines
3. 49 Dev. 1 shift 1 use dotted lines
4. RSI to 8 with lines at 75 and 25

New entrance points for recovery BB bands Dev. 3
Measure distance from Dev. line 3 to Dev. line 2 = total pips A
Measure distance from 1st entrance to Dev. line 3 = total pips B
tpA = recovery distance
tpB = amount needed to recover
Division is tpB / tpA

What is multiplication to break even?
If distance for tpB 210 pips in the hole
If distance for tpB is 70 pips
210/70 = 3
Multiply next level entrance by 3, set your TP for both levels to break even.
You are out.
So you want out of a bad trade or you want a quick TP off of level 3 BB There are your numbers. When price hits Dev. level 3 enter and then TP at level 2. Confirm RSI above below 25/75. An RSI warning system probably exists somewhere at FF. An EA that enters off of Dev. 3 would be easy to write. What do you think???
See pic below. I also attached the template. HMMMMMMMM will study this one. May lead to new entrance rules. Scalping the 4H chart. yuk yuk

The other thing I forgot to mention is when you see price bouncing between Dev. 2 and 1 you know you are in trouble. If you want to take a minumum loss Dev. 1 is your recovery TP for a minimum loss on the 2.4.2 recovery system. This looks good, I like the clear cut rules here. If you are in a trade and you want to break even reenter outside Dev. 2 or 3 TP at next deviation line and do the math. I love it when pieces come to gether. Again if you use Dev. 2 you confirm with the RSI being >< 25/75.

Another thought if you are 3 levels deep do the math for just one level. So you want level 3 to break even your level 1 trade and you leave level 2 to see if price breaks in your favor. If it doesnt then you will use a L4 trade to break even your level 2 but you have already closed out 1 and 3 so they would be your present level 1 and 2. I know clear as mud. In other words, if you are at 3 levels you dont need to try to clear both level 1 and 2 at the same time if your margin is tight or you dont want to risk a high multiplication.

I was planning on changing my BB from 40 to 50 anyways so here is the reason why. I also am developing a follow the trend system using the 50MA on a 4H chart so that makes this fit that system. It will be cool when I get it all together. Just a hint of what maybe coming.

Start of the New Year and time to trade again. Did some light trading last week and did ok. But now for the public trading. Some currencies have not ended their Christmas trends yet so be careful AUD/JPY is one of them. It looks tempting but I dont know how to read a 3+ week of constant trending without a major retrace. If it continues it will be week 4 and it is possible with the an expectation of some USA selloffs and the money going into the AUD and NZD pairs. Higher interest rate.
TAKE PROFITS

CLOSED FOR LOSS

OPEN TRADES


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

primary trades
BUYS
SELLS Aud/Nzd,

Secondary trades
BUYS Eur/Aud, Gbp/Chf
SELLS Aud/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.

Nanningbob why not just move your account to the UK so that you can continue hedging? I think it would make life a lot easier.

I am waiting for IBFX to finish opening their offices there and many of the UK brokers wont take USA customers.

Just so others know that someone can make positive pips with this method. I made 502 pips last week. I had one losing trade only because I closed it out rather than wait it out. Had I been more patient, that trade would only be -5 pips going into the Sunday session. Nice method Bob.