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Nanningbob 4H trading system

  • #1,081
  • Edited 8:09am Feb 18, 2010 7:49am | Edited 8:09am
OK the MacMan one seems to be working. EUR/JPY strong move down and the sell I had on that account brought the break even up and then it moved the SL every 20 pips so far. So that is good news. It worked on all the manual trades that have moved over 20 pips. Tomorrow I will set up some EAs that will buy and sell immediatley and go both ways and see how it works on EA generated trades. I assume it should not make any difference. I really would prefer to have 1 or 2 EAs covering all my trades since you know I like to post all 20+ currencies on my charts and picking and choosing the best. Anyway that is the goal. I would really like just one EA handling both directions moving the SL up as price moves, then I would use the non closing EA when I see divergance and see what happens. Looking better every day.

What maybe a unexpected side benefit of my system is if you forget to turn off the EA you may get some really good trades down the road. Here we follow the gbp/chf all the way down over a two week period. The pink are pink EA entrance plus two white EA entrances. The one white spike might have given you a heart attack. So if you ran the pink sell ea you would have had 7 trades during a 2 week period and 2 if you ran the white. Dont know if I want to get back into trading the middle of the chart again but you never know. Miracles do happen.
Attached Image (click to enlarge)
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  • #1,082
  • Edited 8:27am Feb 18, 2010 7:56am | Edited 8:27am
Quoting astral77
HI BOB

I think MACMAN (whose knowledge is far, far superior to mine) has replied. I think what you say should be OK. Open 2 mptm one for sell one for buy. I think just like me you have not had a chance to try the modified version by Macman. Although Macman says that this should not cause a problem, we did have problems, maybe it is conflicting with your EAs. I have been running it as a test on demo and it is OK with 0 setting instead of 2.

kind regards
Yes but I have multiple numbers, Can we do one EA with multiple Magic numbers or set up a MPTM for each one? In other words my question is this--Can I have one MPTM run 201, 202, 203, and 204 Sell EAs and one MPTM for the buy EAs 101, 102, 103, 104 or do I need 1 MPTM for each EA magic number? You guys know how crazy I get with all my multiple trades.
  • #1,083
  • Feb 18, 2010 8:56am Feb 18, 2010 8:56am
Quoting nanningbob
Yes but I have multiple numbers, Can we do one EA with multiple Magic numbers or set up a MPTM for each one? In other words my question is this--Can I have one MPTM run 201, 202, 203, and 204 Sell EAs and one MPTM for the buy EAs 101, 102, 103, 104 or do I need 1 MPTM for each EA magic number? You guys know how crazy I get with all my multiple trades.
Again MACMAN is more qualified to reply. In the meantime my understanding is that is you choose manage by magic number you can have only one magic number in the field (i.e. 1 MPTM for each EA). Unless you give the same magic number ot the same EA grouping (if that does not cause conflict in MT4).

sorry i this does not address the question.

kind regards
  • #1,084
  • Feb 18, 2010 9:24am Feb 18, 2010 9:24am
Quoting nanningbob
Yes but I have multiple numbers, Can we do one EA with multiple Magic numbers or set up a MPTM for each one? In other words my question is this--Can I have one MPTM run 201, 202, 203, and 204 Sell EAs and one MPTM for the buy EAs 101, 102, 103, 104 or do I need 1 MPTM for each EA magic number? You guys know how crazy I get with all my multiple trades.
Hi,
A single instance of the MPTM EA can handle any of these scenarios:

Just the pair the EA is currently running on
All trades anywhere on the account
A selection of trades based on the magic number of the EA which created them
A selection of trades based on the comment field
A single trade based on the Ticket Number

The very latest addition which I have not yet tested adds another possibility being to manage a selection of trades based on the Symbol field (EURUSD, GBPJPY etc).

Also you can combine any of the above which are logical, so for instance you could manage only the pair the EA is on & then only trades created by a specific EA, by using it's magic number.

Hope this helps ...

p.s. Attached is the user manual for anyone who has not seen it
Attached File(s)
File Type: pdf Multi purpose trade manager instructions.pdf   91 KB | 597 downloads
  • #1,085
  • Feb 18, 2010 6:14pm Feb 18, 2010 6:14pm
hmmmmm I think Forex is stuck in reverse, Doji's, is that what they are called, How many in a row can you get in a week? I dont think I have seen 6 doji's in a row on a 1 minute chart much less a 4H chart. SHEEESH. Actually, it means nations are not trading and that is not good economic news. Well, my little EA did make some trades and I was surprised when I saw some profits in my account. Neat. I will show some pics in the next couple of posts. I am not adding any more trades today. I have enough going on.

TAKE PROFITS
aud/usd +71 +49 my little EA made two trades on the aud/usd yesterday
usd/cad +19 +47
usd/chf +37
STRADDLE TRADE

 CLOSED FOR LOSS

 OPEN TRADES
 SELLS
aud/chf, -113 ver. 3 trade -46 (no change).
aud/jpy -207 ver. 3 -81 L2 -2
aud/nzd, -75 ver.3 -37
aud/usd EA on but not entered at this time see above
eur/aud, -184 ver. 3 -98 divergance turned off EA
eur/cad -202 entered manually at L2 -100 should have stayed with the white line EA.
eur/nzd -240 ver. 3 -143 2L -10
nzd/chf -78 ver.3 -22 divergance turned off EA (no change)
 nzd/jpy -18
gbp/nzd -170 L2 0
gbp/usd -174 L2 0
usd/chf -31
usd/jpy -87 L2 0
 TOTALS
total for day +223
 for the week +131
for the month +1374
Carry over -2118
 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.[/quote]
  • #1,086
  • Edited 6:40pm Feb 18, 2010 6:26pm | Edited 6:40pm
In what I considered an absolute lousy trading day my little system made me 200+ pips by surprise. Here are the two aud/usd trades it did. Yellow 1 I used pink check marks by the entrance and exit and Pink 2 I used arrows. First trade was for +49 the second a nice +71. Love it. I am going to leave the pink EA on this pair and see if I can follow the DT if it does one.
Attached Image (click to enlarge)
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  • #1,087
  • Feb 18, 2010 6:33pm Feb 18, 2010 6:33pm
USD CAD +19 and +47 1st trade yellow arrows second trade pink arrows. I love this. You will see the green TP arrow is farther down than the green line but that is because the green line continues to move as price moves up. Makes me think should I switch to the white line for TP also. hmmmm need to study that one. I will also use the pink buy series to see if I catch more trades if it up trends. If it stays below the gold line and bounces around that is good too. no matter what it does at this point it looks good. Unless it drops a bomb, then 2.4.2 recovery system here we come. I am really beginning to like this. Entering on the extremes sure looks good as a trading system.
Attached Image (click to enlarge)
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  • #1,088
  • Feb 18, 2010 7:10pm Feb 18, 2010 7:10pm
This discussion happened on my other forum and it applies to the gold lines on why and how they work. So I thought I would copy and paste it here.

"I am a little confused here. Surely these new indicators draw lines that are based on the screen being viewed and ignore price. ie they simply split the screen up into equal segments So if I have a lesser no of bars on my screen than you do or if I magnify the display etc we will have different price entry points for trades etc Fibs and Pivots levels are based on calculations from price so will be the same no matter how the chart is displayed This would explain why you cannot back test it unless in visual mode ie Without a screen display how could the EA know what the levels were! I would have thought it better to base this new approach on price so everyone at least were singing from the same hymn sheet so to say

I see Swingman in your other thread has done an indicator along these lines Maybe we could use this as a basis Do you think this is in line with your new approach?

Best Regards"

You could but I use a 4H chart for almost all my trading. What you see on the screen is a 1 month period of price action therefore as price moves across the screen the movement of the gold lines are very slight over a period of a week. In reality they are just another form of moving average lines. If you change from a 4H chart to a 1H chart all indicators, all moving averages will change or move. You change the amount of time or information used for the calculations. These gold lines are a moving average of 1 month of price action but in instead of using candles it is the distance from the top to the bottom or the range calculated by MT4 for that pair. This figure is based on MT4 figures of how much price has moved for a particular currency pair. MT4 uses this figure to give you your screen size. So the distance from top to bottom is a price range calculation. The gold lines are a moving average of that range. I am a range trader, to me this is perfect for my range trading systems. I hope you understood this, they are really another form of a moving average line. All indicators are, it is just the math is different.

  • #1,089
  • Feb 18, 2010 7:23pm Feb 18, 2010 7:23pm
Macman I just want you to know that your line system is also interesting and maybe a great indicator in which direction the trend is going. I am studying it now.
  • #1,090
  • Feb 19, 2010 3:57am Feb 19, 2010 3:57am
OK some good news. I have the newest versions of MPTM working, they have worked on manual entries and EA entries, so that is good news. I will be trying them out on my live account after I report tomorrow's results. I have both the break even and jump SL working. My next test will be individual EA numbers which I will start Monday.

Concerning MacMan's line drawing indicator. I want to know if any of you have noticed that once it starts drawing lines that is a great price turnaround spot and turn on the pink EA. Then watch at the pink EA enters trade after trade on the retraces and when the indicator draws lines showing change in trend you can change the EA direction. I have not watched enough to make a final conclusion but does anyone else see this with the pink line EAs? Be interested in your insights.

Now if we can just get price moving some today, I would be happy.
  • #1,091
  • Feb 19, 2010 4:13am Feb 19, 2010 4:13am
Quoting nanningbob
OK some good news. I have the newest versions of MPTM working, they have worked on manual entries and EA entries, so that is good news. ...
Concerning MacMan's line drawing indicator. ...
Now if we can just get price moving some today, I would be happy.
HI BOB

Thanks for the post. By newest MPTM, do you mean the one by Stevehopwood on his thread or the one supplied by MACMAN.

By MacMan`s line drawing indicator, do you mean SWINGMAN or MacMan. Final point is for SWINGMAN who has kindly provided his meter indicator. Is there a way to set up an alert once the four indicators line up?

Kind regards
  • #1,092
  • Feb 19, 2010 6:18am Feb 19, 2010 6:18am
Quoting astral77
HI BOB

Thanks for the post. By newest MPTM, do you mean the one by Stevehopwood on his thread or the one supplied by MACMAN.

By MacMan`s line drawing indicator, do you mean SWINGMAN or MacMan. Final point is for SWINGMAN who has kindly provided his meter indicator. Is there a way to set up an alert once the four indicators line up?

Kind regards
Sorry for the mistake on Swingman, yes I meant Swingman's indicators. I have gotten both the newest Hopwood EA and Macman's MPTM working. So that is good news. Yes you could code an alert but he will have to do it because he did not provide the code just the indicator.
  • #1,093
  • Feb 19, 2010 6:22am Feb 19, 2010 6:22am
Ok now for some bad news, the EAs I have provided dont close according to magic number even though they are in the program. If one closes the EA closes all the trades of that currency pair. So I had one trade go for a loss today because of that. I will have to investigate on how to change that but the present EA if you want to run more than one level it is going to close all levels whether EA started or manually started. So if anyone can solve that it would be nice otherwise I will have to use another EA. So we need an EA that will only close its own magic number and not any other trades in that currency pair. As long as you are doing single levels you are OK but multi level could be different. Right now on any currency with more than one level going I am removing the EA and handling the trade manually.
  • #1,094
  • Feb 19, 2010 12:32pm Feb 19, 2010 12:32pm
Thank you for the system Bob, this is looking very promising. I'm excited to get some demo trading in on it and see what happens.

nikkon
  • #1,095
  • Feb 19, 2010 6:03pm Feb 19, 2010 6:03pm
Quoting nikkon226
Thank you for the system Bob, this is looking very promising. I'm excited to get some demo trading in on it and see what happens.

nikkon
I do believe we can refine this system into an excellent trading tool however, this week has probably been one of the worst price movements for forex. In fact since the middle of December prices have gone through these periods of stagnation and its driving me nuts. This week the high and low of almost all the currencies has been less than 300 pips many around 200. I mean many of them used to do that in one day. That kind of scares me for two reasons:

1. World trade is going to the dogs again. Countries are not trading with each other very much.
2. Any news story of significance will blast prices all over the board.

So I need to be wary of trading right now and try to be careful.
  • #1,096
  • Feb 19, 2010 7:12pm Feb 19, 2010 7:12pm
OK, not much happened, got burned by my own EA, will work on that problem this weekend. Would have had a decent day if the EA hadnt closed out the EUR/NZD trade. It would have been the best trade of the day. So I record a -225 loss instead of around 175+ profit. Well, that is testing for you.

TAKE PROFITS
aud/jpy L2 +14 I was under the delusion price was going somewhere so I got rid of my 3rd level.
nzd/chf -20 ver.3 +36 Closed at support
usd/chf +39 another I should have kept longer
usd/eur turned on after it dipped +84 used the 3x3 cross. When I saw this trade it had already hit support so missed the white or pink entrance so I turned on the 3x3 EA from version 2 and it worked. I wont add this to my total but I wanted to show that if you miss a trade you can try the old system.
STRADDLE TRADE

 CLOSED FOR LOSS
eur/nzd -207 ver. 3 -110 2L +23 This is the trade my EA closed when the 3rd trade hit the TP line, it closed all three trades even though some had different magic numbers or were manually entered trades. OUCH. This is sad because this was one trade that moved 190 pips for the day and would have sat on a nice profit. Will work on this EA flaw this weekend.
OPEN TRADES
aud/chf, -62 ver. 3 trade +5
aud/jpy -199 ver. 3 -139
aud/nzd, -141 ver.3 -103
aud/usd -59
eur/aud, -176 ver. 3 -90 divergance turned off EA
eur/cad -201 L2 -99
gbp/nzd -205 L2 -77
gbp/usd -145 L2 +15
nzd/jpy -5
usd/jpy -64 L2 +22
 TOTALS
total for day -225
 for the week +94
for the month +1149
Carry over -1723
 primary trades
BUYS
usd/cad sitting at S line so will enter there manually Monday.
gbp/chf will turn on EA or enter after Monday gaps
 SELLS
 eur/gbp
aud/usd
Secondary trades
BUYS

SELLS

Took the favorite pair section off. I am testing all currencies with version 3. Not using usd/sgd though.
  • #1,097
  • Feb 19, 2010 7:27pm Feb 19, 2010 7:27pm
A discussion on the other thread is helping me to define what the gold lines are. Here is some more information. Hope you enjoy.

When ever you change screen size you change levels. For example when you change from a 4H chart to a 1H chart, what are you really doing??? You are changing your screen size. 1H to 15M same thing. That changes all your indicators. It is the same thing. All these systems we have previously have one weakness and your chart shows this, You can get a sell while price is at the bottom of the screen and then as it goes north you are into the trade too early. These new lines can solve that problem. The lines are now fixed to the actual range of the particular currency instead of a set of numbers. When MT4 gives you a screen it is based on the range of the currency during that period of time. We are using that qualification as our foundation for trading. In other words MT4 has already done the work of the range of each currency. We use that math to determine the lines to trade from. Now that doesnt mean it does not create new weaknesses but we wont find out the new weaknesses until we get something consistent to test. What is hard to comprehend is your screen size is an indicator based on price action. That is why every currency has a different pip size for its screen. The usd/jpy from top to bottom is different from the gbp/jpy. WHY?? because the screen height is based on price action of the pair for the time period you are looking at. This maybe hard to fathom but your screen size is an indicator. http://cdn.forexfactory.com/images/s.../yim/happy.gif
  • #1,098
  • Feb 19, 2010 8:01pm Feb 19, 2010 8:01pm
Quoting nanningbob
A discussion on the other thread is helping me to define what the gold lines are. Here is some more information. Hope you enjoy...
This maybe hard to fathom but your screen size is an indicator. http://cdn.forexfactory.com/images/s.../yim/happy.gif
We as human beings tend to overlook the simple and look for the complicated. the ethos being the more complicated the more accurate (which would also mean more mistakes). Therefore, the best things are the simple ones. The notion that your screen is an indicator and what it at th top and bottom quarter represents the extreems of moves within that range, is quite logical. I am baffled why we had not figured it out before.

Kind regards.
  • #1,099
  • Feb 19, 2010 10:10pm Feb 19, 2010 10:10pm
Quoting astral77
We as human beings tend to overlook the simple and look for the complicated. the ethos being the more complicated the more accurate (which would also mean more mistakes). Therefore, the best things are the simple ones. The notion that your screen is an indicator and what it at th top and bottom quarter represents the extreems of moves within that range, is quite logical. I am baffled why we had not figured it out before.

Kind regards.
I can answer that question, we had not lost enough money yet.
  • #1,100
  • Edited 3:36am Feb 20, 2010 1:30am | Edited 3:36am
Here are the 4D and 5D versions of MPTM that have worked for me on IBFX. I will be using these on my live account starting Monday. They are the newest versions downloaded on 2-16. Let me know if you are having any problems with them. The settings are BreakEven EA break even after 20 pips. The jump EA breaks even at 20 and then moves the stop every 25 pips. So at 50 pips you secure a 25 pips profit at 75 pips you secure a 50 pip profit. I put NB in the titles to show these are the ones that go with my system, it is never meant to take any credit for Steve's work which I think is fantastic.
Attached File(s)
File Type: zip 4D NBMPTM.zip   225 KB | 341 downloads
File Type: zip 5D NBMPTM EAS.zip   225 KB | 350 downloads
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