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Nanningbob 4H trading system

  • #1,241
  • Apr 2, 2010 11:15pm Apr 2, 2010 11:15pm
Just to show you how valuable the MPTM has become, for the month of March, all my +5 and +10 added up to 790 pips. So going the last 3 days without it is damaging. I hope my internet issues here are finally settled. +790 thats not bad for that little program.
  • #1,242
  • Apr 3, 2010 6:49pm Apr 3, 2010 6:49pm
Quoting nanningbob
Ok here we go, it is 65 for and 60 against my method. In 8 months I have posted my trades every day for all the world to see. Lets see ............. hmmmmmmmm .............. that is a total of ............. +11,527 pips and only 1 losing month. I bet those 60 guys will buy someones high price method but they dont think one you can follow for free is worth it. Dont you just love the average Forex trader.
After a very very long time reading different threads and trying a number of different systems (Paid and unpaid), at long last I am making some profit by following the threads of two people in FF. One being your good self and other is Steve Hopwoods. It is interesting to note that both of you are Educators by profession.

You have spent a long time and a great deal of research coming up with the three systems, condensing it and presenting it to the fools who call themselves forex traders. Some fools such as me have realized the merits of your system and although not understanding it 100% they are following it with a reasonable success rate. Other fools are still in a state of blissful ignorance.

I have spend a long time thinking why people vote against your fantastic system and the only explanation I can think of is that to the novice fool your system looks too complex and needs some thinking so it is a no, no. To the experienced fool the system uses too many indicators so it is a no, no. It is a shame that they have not followed my example by trying the system and finding out its merits. Please keep up the good work and for someone like me you have been a god send. I wish you all the best.

Kindest regards
  • #1,243
  • Apr 5, 2010 3:33am Apr 5, 2010 3:33am
Thanks for the compliment. When you sit behind a computer you really dont see how you affect other people's lives. Second, I am online again after getting knocked off for 36 hours. We had to replace the phone line in the building but now I think everything works. LOL.
  • #1,244
  • Apr 5, 2010 9:53am Apr 5, 2010 9:53am
I still don't know about using the manager for second level trades. Yes, the manager can help you with the right price action but it can hurt you if price returns to BE, kicking you out of the L2 trade, then continues in the right direction again. This has happened to me already where I'd now be out of both level trades.
  • #1,245
  • Apr 5, 2010 10:32am Apr 5, 2010 10:32am
Hello, Bob, Toothman, and others.

I've enjoyed reading through the whole thread over the last week or two. What a journey! Nice trading system you have here, Bob. Congratulations. I will admit that the large carryovers do scare me a bit, but you have successfully been able to whittle down and/or eliminate them as needed, which is impressive. Now whether I and others can do the same is the $64,000 question.

I see in the last 10 or so pages of the thread that the method seems to have taken some different turns (6x6 vs. 3x3, chart extremes vs. Bollinger, etc). Do you have a document that you have updated that reflects all the latest changes? I would like to be able to follow what you are doing as closely as possible.

I've installed the 6x6 template and EAs on my platform. But I am with a 5D broker. Do you have a 5D version, or can you give me an idea of what code I would need to change to accommodate that?

Glad to hear you have your internet/phone line issues straightened out (at least for now).

Trade well,

Scott
Prices are never too high to begin buying or too low to begin selling.
  • #1,246
  • Apr 5, 2010 11:15am Apr 5, 2010 11:15am
Quoting Toothman
I still don't know about using the manager for second level trades. Yes, the manager can help you with the right price action but it can hurt you if price returns to BE, kicking you out of the L2 trade, then continues in the right direction again. This has happened to me already where I'd now be out of both level trades.
I´m testing a 6x6-EA which open the first level.Instead of opening the second level at 150 pips the EA change the magicnumber +1 if price reach the 150-pips.So you have only first level-trades.

If you have a trend your "second" trade will not open at 150 pips but only if you have the 6x6-cross.In long trending currencies you get wider pip-spacing.

aiti
  • #1,247
  • Apr 5, 2010 3:24pm Apr 5, 2010 3:24pm
Quoting thehenryfam
Hello, Bob, Toothman, and others.

I've enjoyed reading through the whole thread over the last week or two. What a journey! Nice trading system you have here, Bob. Congratulations. I will admit that the large carryovers do scare me a bit, but you have successfully been able to whittle down and/or eliminate them as needed, which is impressive. Now whether I and others can do the same is the $64,000 question.

I see in the last 10 or so pages of the thread that the method seems to have taken some different turns (6x6 vs. 3x3, chart extremes vs. Bollinger,...
The answer is yes, the question is when. Will work on it after I get my financial statements and next years projections for my school done.
  • #1,248
  • Apr 5, 2010 3:46pm Apr 5, 2010 3:46pm
MPTM is working again so away we go. Closed one trade at +24 just to do something yesterday. Good sign of price turn around when price stagnates. All the aud pairs caution with interest rate news today. Looks like everything in AUD, JPY, and CAD are overbought or oversold. To me that tells me the AUD interest rate story is going to move the markets when it comes out. So I go for the ride good or bad. When I see the market do that, I think it is predicting where the news story is going. but the rumor, sell the news is the old saying so here we go. Today is going to be a very good day or a very bad day.

TAKE PROFITS
MPTM 8 at +10 = 80
usd/jpy +24
CLOSED FOR LOSS

OPEN TRADES

SELLS
Aud/jpy -444 2nd -231 3rdL -113
CHF/JPY -370 2L -201 3L -4
eur/gbp -64
eur/jpy -289 2ndL -215 3rdL -102
gbp/jpy 2nd L -389 3rdL -258 4th -86
gbp/usd -41
nzd/jpy -137 2nd L -39
usd/jpy -204 2ndL -142 3rdL above the line waiting to reenter again.
TOTALS
total for day +104
for the week +104
for the month -281
Carry over -3338
primary trades
BUYS usd/cad (ugh i hate this pair), eur/cad, aud/cad

SELLS gbp/chf (not entered yet), gbp/nzd, aud/usd, aud/nzd, aud/chf
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 matc hes 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][/quote][/quote][/quote]
  • #1,249
  • Apr 5, 2010 6:40pm Apr 5, 2010 6:40pm
Quoting aiti
I´m testing a 6x6-EA which open the first level.Instead of opening the second level at 150 pips the EA change the magicnumber +1 if price reach the 150-pips.So you have only first level-trades.

If you have a trend your "second" trade will not open at 150 pips but only if you have the 6x6-cross.In long trending currencies you get wider pip-spacing.

aiti
I keep 3 buy EAs and 3 sell EAs with different Magic numbers. THis way the entrance is only made at the cross and not a predetermined pip number. When the MPTM closes a 2nd level trade, because it has a different Magic number it doesnt affect the other levels. When the 2nd level requalifies as a trade it will reenter the trade. So I pick up a half a dozen or so MTPM trades every day. Yesterday was a no mover day but I picked up 80 pips from it bouncing around the 2nd and 3rd level areas. It is working out very well. The MPTM works well with a MA cross system but does not seem to work well with a high/low system.
  • #1,250
  • Apr 5, 2010 9:13pm Apr 5, 2010 9:13pm
No problem, and I understand fully. Thanks.

Scott

Quoting nanningbob
The answer is yes, the question is when. Will work on it after I get my financial statements and next years projections for my school done.
Prices are never too high to begin buying or too low to begin selling.
  • #1,251
  • Apr 6, 2010 4:21am Apr 6, 2010 4:21am
Quoting nanningbob
I keep 3 buy EAs and 3 sell EAs with different Magic numbers. THis way the entrance is only made at the cross and not a predetermined pip number. When the MPTM closes a 2nd level trade, because it has a different Magic number it doesnt affect the other levels. When the 2nd level requalifies as a trade it will reenter the trade. So I pick up a half a dozen or so MTPM trades every day. Yesterday was a no mover day but I picked up 80 pips from it bouncing around the 2nd and 3rd level areas. It is working out very well. The MPTM works well with a MA...
Bob,
Doesn't the reenter at next cross strategy risk getting your levels spaced too closely(or too far apart) sometimes? This is similar to what I was doing with waiting until I saw divergence again to enter L2 but I was waiting until I had at least a 200 pip step before looking for divergence again. So what you're saying above is when you get a L1 buy trade opened you then put buy EA's on two other separate charts(with different magic no.) for L2 and L3 trades? How do you keep both of these EA's from entering at the same next cross?
  • #1,252
  • Apr 6, 2010 4:28am Apr 6, 2010 4:28am
I've altered my code to prevent EA's from reentering after a TP or SL is hit. Reentering has gotten me into too many trades I didn't want to be in. Changes can be found on post #613 of this thread.
  • #1,253
  • Apr 6, 2010 7:38am Apr 6, 2010 7:38am
Quoting Toothman
Bob,
Doesn't the reenter at next cross strategy risk getting your levels spaced too closely(or too far apart) sometimes? This is similar to what I was doing with waiting until I saw divergence again to enter L2 but I was waiting until I had at least a 200 pip step before looking for divergence again. So what you're saying above is when you get a L1 buy trade opened you then put buy EA's on two other separate charts(with different magic no.) for L2 and L3 trades? How do you keep both of these EA's from entering at the same next cross?
Too close maybe a problem, too far is not. I am testing a sixths EA with 5 lines on the screen so it adjusts to each currency. When price enters between two of the lines I make sure I dont get my second level unless it is in a different zone. So in the pic below of the aud/chf you can see level 1 (the white #1) and the second level (white #2). This is what I am using to keep my spacing with the different levels. So instead of a fixed number I am using what ever is the range of that currency. So I want trades to have the distance from one line to the next to be my spacing. In this trade my 3rd level would actually be a spot that is not even on the screen right now. I also am thinking of beyond top/bottom red line being my entrance area for volatile currencies and red to gold for others. I am also planning on writing a high/low and 6x6 cross EA. You only turn it on in the red area so you get your entrance at a high/low or if it doesnt it also enters at the cross. The red to gold area you only use the 6x6 cross. This will give you spacing designed for every currencies range rather than just 150 or 200. For example the gbp/nzd spacing is closer to 250 or 300 while the aud/chf spacing is around 100. So this will put everything together with simple rules for each area. If price is above red line use this EA #1 which will be a high/low or 6x6 (maybe the old 3x3) cross EA. if between the gold and red, use EA #2 which will be a 6x6 EA. When price goes against you the distance between two lines put on the 2nd Level EA for your 2ne entrance. Just some ideas I am working on. This will put all our latest ideas together into an easy to understand and usable system. Not so comlicated. See pic below:
Attached Image (click to enlarge)
Click to Enlarge Name: aud chf.gif Size: 35 KB
  • #1,254
  • Apr 6, 2010 7:48am Apr 6, 2010 7:48am
Quoting Toothman
I've altered my code to prevent EA's from reentering after a TP or SL is hit. Reentering has gotten me into too many trades I didn't want to be in. Changes can be found on post #613 of this thread.
I want the reentrances, so far today the gbp/jpy has done two 100 pip runs and 2 MPTM for over 200 pips so far today. I am on 13 mptm and the USA session has just started. I love the reentrances and constant pickups. The EA only does one entrance at a time so these constant reentrances are really profitable. For example the EUR/JPY has closed 8 trades in two days. 4 MPTM 2 for nice profit. One level break even and one for a small loss. That brings me back to only 2 levels on that pair but a pile of pips in the bank. So I want the reentrance. Those multiple MPTM hits are adding up. I am having a really big day so far today.
  • #1,255
  • Apr 6, 2010 10:05am Apr 6, 2010 10:05am
Quoting nanningbob
I changed the +5 to +10 and reenter every 20 instead of 15 to see how it would do. Picked up a nice 100 pips. I have discovered a problem and not sure how to fix it. When you have a 2nd level trade and it goes for the +10 on the MPTM the EA on L2 will also close the 1st level trade. So the Eur/aud and eur/usd trade closed the 1st level trade when it closed the 2nd level trade of +10. Then it opened a new trade (the new trade is not a problem but closing the first level trade is). Now if you enter the 2nd level and turn the EA off you dont...
Bob, this is an very promising thread and i just start to demo 6X6 and MPTM BE EAs. The issue is whenever an order is closed at +5 BE by MPTM, 6X6 EA reopens another order. I guess 6X6 i downloaded is not the version that you are using now.

Leaving the EA aside, i am just wondering what you mean by "reenter every 20 ". Do you mean you reenter when the price is 20pips higher (for sell order) than BE price, you will reenter?

Happy trading!
  • #1,256
  • Apr 6, 2010 1:54pm Apr 6, 2010 1:54pm
I realy like the new idea of 5 lines and specific ea's for each zone. This could be much more flexible design. Right now it is sometimes hard to decide when to stop buy/sell. With those new rulles it could reduce the doubt.
I like this system very much, becouse it is evolving rapidly. If I only could achieve such a mastery in it like Nanningbob did
Thank's again.
  • #1,257
  • Apr 6, 2010 3:15pm Apr 6, 2010 3:15pm
Quoting nanningbob
I want the reentrances, so far today the gbp/jpy has done two 100 pip runs and 2 MPTM for over 200 pips so far today. I am on 13 mptm and the USA session has just started. I love the reentrances and constant pickups. The EA only does one entrance at a time so these constant reentrances are really profitable. For example the EUR/JPY has closed 8 trades in two days. 4 MPTM 2 for nice profit. One level break even and one for a small loss. That brings me back to only 2 levels on that pair but a pile of pips in the bank. So I want the reentrance. Those...
How are you deciding when to turn off EA's? Do you have a rule of thumb? Blue line to other extreme? Maybe I'll rethink the no reentry idea. The GBP/JPY scares me. Don't think I'll be trading that one live.
  • #1,258
  • Apr 6, 2010 5:03pm Apr 6, 2010 5:03pm
Allowing a reentry after a BE+10 in Oct. 08 on the GBP/JPY would have lost you a bundle. I think a safer approach would be to take the BE +10 then wait for the MA's to recross again before turning the EA on again. Just thinking out loud here.
  • #1,259
  • Apr 6, 2010 5:37pm Apr 6, 2010 5:37pm
OK had a great day. Here we go. Used some of my profits to eliminate chf/jpy. The RWB were all on the bottom so I felt it was my best exit on that pair. Will sit on some others. DD is in much more acceptable levels now. Hopefully price will keep going in the same direction as yesterday. OK out of the chf/jpy and eur/jpy. See what happens with the aud/jpy, gbp/jpy and usd/jpy.
TAKE PROFITS
MPTM 16 at +10 = 160
aud/cad +26
eur/jpy +93 +84 -146 (2MPTM) great move on this pair. RWB near bottom so closed all trades.
gbp/jpy +75 +50 -42
gbp/usd +98
nzd/jpy -13 2nd L +55
nzd/usd +30
CLOSED FOR LOSS
aud/nzd, -41 (1 MPTM) I accidentally still have a EA that closes all trades when mptm closes so it closed this trade. Will have to go and check all my EAs to make sure they are the right EA.
eur/gbp +22 -28 took a pip loss but made a tiny profit with the bigger lot size. Took the BE and then let the EA reenter for only 1 level trade.
CHF/JPY -236 2L -66 +71 +25 -27 (2mptm)
OPEN TRADES
aud/chf -58
Aud/jpy -430 2nd -217 3rdL -52 (had 4MPTM off the 3rd L )
aud/nzd -2
aud/usd, -84 2L +10
eur/cad, +24
eur/gbp -77
gbp/chf -115 2L 0
gbp/jpy 2nd L -234 3rdL +16
gbp/nzd, +5 (had 3 mptms yesterday)
gbp/usd -94
usd/cad -31
usd/jpy -139 2ndL -77 3rdL +11
TOTALS
total for day +235
for the week +339
for the month -46
Carry over -1411
primary trades
BUYS

SELLS usd/chf,
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 matc hes 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.
  • #1,260
  • Apr 6, 2010 5:49pm Apr 6, 2010 5:49pm
Quoting Toothman
Allowing a reentry after a BE+10 in Oct. 08 on the GBP/JPY would have lost you a bundle. I think a safer approach would be to take the BE +10 then wait for the MA's to recross again before turning the EA on again. Just thinking out loud here.
OCT. 8. you would have been in buy mode and made a bundle. Dont understand this one, what do you mean ??? Price was below the gold and red line on that day and would have had a buy EA on. see pic below and the green arrow on Oct. 8
Attached Image (click to enlarge)
Click to Enlarge Name: gbp jpy.gif Size: 35 KB
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