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Nanningbob 4H trading system

  • #1,261
  • Apr 6, 2010 7:51pm Apr 6, 2010 7:51pm
Quoting Toothman
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.
Unless you want to handle large DD you dont trade the gbp/jpy, gbp/nzd, eur/nzd, there is no avoiding DD with them. But when they are profitable, oh yeah.
  • #1,262
  • Apr 6, 2010 7:54pm Apr 6, 2010 7:54pm
Quoting earthca
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!
Yes the 6x6 reenters. I want it to do that. When they cross I am willing to go with the change of direction. If not I multi level trade. Not sure what you are referring to in reenter every 20. It maybe a misprint but I usually try to reenter every 150 - 200 not 20.
  • #1,263
  • Apr 6, 2010 8:00pm Apr 6, 2010 8:00pm
I am still experimenting with this but I like it. 6ths indicator, put it in you indicators folder and use it instead of the fourths. I always enter above/below red. Less volatile pairs between gold and red with a read on the RWB and swingmans indicator. Anyway here is the indicator. Working on it and hope to put together a complete package as I trade. You will see in the upper left corner 3 comments. distance between lines, distance top to bottom (this gives currency range for last 4 weeks), and a take profit distance but that is for another project I am working on. You can use that as a guide.
Attached File(s)
File Type: ex4 NB sixths ver. 3.5.ex4   4 KB | 334 downloads
File Type: mq4 NB sixths ver. 3.5.mq4   3 KB | 414 downloads
  • #1,264
  • Apr 6, 2010 8:06pm Apr 6, 2010 8:06pm
Here is a screen of the sixths with the nzd/chf. This almost qualifies as a secondary trade but I dont think the RWB is matching up well as a signal so I am not taking it. If price continues to move up to the red line then I will turn the EA on. Top to bottom is 260 pips so very little volatility in this pair. You dont want to enter near the gold when volatility is low but closer to the red in case you have a price bounce. What I really like about this indicator the way it is set you will see that the red and gold lines are very consistent predictors of S/R areas. It is actually uncanny how accurate it is. I think you will like this indicator a lot.
Attached Image (click to enlarge)
Click to Enlarge Name: nzd chf.gif Size: 34 KB
  • #1,265
  • Edited 8:21pm Apr 6, 2010 8:14pm | Edited 8:21pm
NB --

Just loaded up the 6ths indicator.

I have green line inside of gold lines, but no red. It seems from your comments I should have red . . . somewhere. WHAT I DO HAVE IS THE WHITE LINE 'IN THE MIDDLE' OF PRICE MOVEMENT, NEXT OUT IS GREEN ABOVE AND BELOW WHITE AND FINALLY THE TOP AND BOTTOM LINES ARE GOLD. DID MY SYSTEM CHANGE THE COLORS ON ME ? . . I DIDN'T.

Pls advise.

Second (possibly brain dead) inquiry. I am using the 4 hour system manually, and I like it a lot. Maybe I can get beyond this and add all the bells and whistles with time.

Anyway, my question now is w.r.t. the MPTM. What triggers its buy and sells for you? Based on 6x6 cross, or ?

Thanks for all you do.

Forest
  • #1,266
  • Apr 6, 2010 8:16pm Apr 6, 2010 8:16pm
Here is usd/chf and nzd/usd with the indicator. Notice how the lines are very close to S/R lines.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: usd chf.gif Size: 34 KB
Click to Enlarge Name: nzd usd.gif Size: 34 KB
  • #1,267
  • Apr 6, 2010 8:19pm Apr 6, 2010 8:19pm
Here is a very volatile pair gbp/nzd. This looks like a great predictor of TP lines and S/R lines. I am developing using this in my trading as I use it and learn more about it. Notice all the little black arrows from the MPTM.
Attached Image (click to enlarge)
Click to Enlarge Name: gbp nzd.gif Size: 34 KB
  • #1,268
  • Apr 6, 2010 8:25pm Apr 6, 2010 8:25pm
Quoting Forest-Sea
NB --

Just loaded up the 6ths indicator....
Same indicator but I change the colors last night. You have the one with the previous colors. Same indicator though.
MPTM is a separate EA from the 6x6. The MPTM manages all your trades and you put it on a separate screen all by itself. Go to Steve Hopwoods thread and he will explain all mechanics behind it.
http://www.forexfactory.com/showthread.php?t=89371

In other words there is a thread dedicated to just explaining all of its functions. I just use the BE part with a TP of +10. So when the 6x6 enters a trade the MPTM will manage it. If price moves more than 20 pips it will set a TP of 10 as the SL. If it hits the SL of +10 it closes the trade. If the 6x6 is still crossed as a trade, it will then enter a new trade and start the process all over again. If you are in the same candle this is always true. The 6x6 will open another trade. If you are in a new candle and it retraces back to the +10 SL but it also uncrosses the 6x6 then it wont enter a new trade.
  • #1,269
  • Apr 6, 2010 8:31pm Apr 6, 2010 8:31pm
Thanks. I guessed it must be the same.
  • #1,270
  • Apr 6, 2010 8:54pm Apr 6, 2010 8:54pm
Toothman I think a good time to turn on the HIGH/LOW ea is when price is near those lines. You then have the ability to predict a great entrance point which I think was missing in that system.
  • #1,271
  • Apr 7, 2010 3:53am Apr 7, 2010 3:53am
Ok I figured out the problem with the MPTM and the AUD/NZD trade. It was the same magic number. The EA had entered a 2nd level under the same magic number so when the mptm closed the +10 it also closed the 1L trade. So I changed all my reentries to 1000 so it wont reenter. I will handle reentries manually by putting on a 2L, 3L, EAs that have a different magic number. So I am adding that to my list.
  • #1,272
  • Apr 7, 2010 6:13am Apr 7, 2010 6:13am
Quoting nanningbob
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
Bob,
I was talking about Oct. of 2008 not Oct. the 8th. Specifically around the 22nd-24th. Knowing you ,you may have been able to wiggle out of trouble. But it looks to me like on the 23rd if you reentered another buy trade(after a BE+10), price would then have gone against you 2000 pips without hardly any retrace. You may have used the 2,4,2 on the way down a couple times but at some point you would have to give up on the trade with some hefty losses.It's possible profits from other trades at the time could have balanced out these losses, I don't know. If you wouldn't have reentered on the 23rd (after a BE+10), buy EA would have kicked in on the 26th and again on the 27th and resulted in wins.
  • #1,273
  • Apr 7, 2010 7:32am Apr 7, 2010 7:32am
Quoting Toothman
Bob,
I was talking about Oct. of 2008 not Oct. the 8th. Specifically around the 22nd-24th. Knowing you ,you may have been able to wiggle out of trouble. But it looks to me like on the 23rd if you reentered another buy trade(after a BE+10), price would then have gone against you 2000 pips without hardly any retrace. You may have used the 2,4,2 on the way down a couple times but at some point you would have to give up on the trade with some hefty losses.It's possible profits from other trades at the time could have balanced out these losses, I don't...
That was a once in a lifetime big news no trade day. You dont judge systems by an exception but by the norm. You just stay away from trillion dollar bailout packages and news stories like that.
  • #1,274
  • Apr 7, 2010 10:25am Apr 7, 2010 10:25am
Quoting nanningbob
Yes the 6x6 reenters. I want it to do that. When they cross I am willing to go with the change of direction. If not I multi level trade. Not sure what you are referring to in reenter every 20. It maybe a misprint but I usually try to reenter every 150 - 200 not 20.
BOB, thanks for your expaination.

I turned on both MPTM and 6X6 EA downloaded from post#1172. If an order is opened and subsequently closed by MPTM at BE, the new order was immediately opened by 6X6 EA. I understand I need put the code from toothman to stop this from happening.

My question is for 1st Level only not the one for reenter at 200pips. Let's say an order is opened by 6X6 and closed by MPTM, will you open another order before another 6X6 cross?

by the way, i am thinking to add stop loss at MA(+/-)ATR as stop loss to avoid huge DD. If we can reenter at 200pips for 2nd Level, the pips will be for profit instead of offseting DD. Have you ever think about this way? Any reason that you do not like this stop loss.
  • #1,275
  • Apr 7, 2010 3:34pm Apr 7, 2010 3:34pm
Quoting earthca
BOB, thanks for your expaination.

I turned on both MPTM and 6X6 EA downloaded from post#1172. If an order is opened and subsequently closed by MPTM at BE, the new order was immediately opened by 6X6 EA. I understand I need put the code from toothman to stop this from happening.

My question is for 1st Level only not the one for reenter at 200pips. Let's say an order is opened by 6X6 and closed by MPTM, will you open another order before another 6X6 cross?...
After a stop or TP by the manager, EA will automatically open another buy if 6MA (shift 0) is above 6MA(shift 1) and the opposite for sell. After the manager stops or TP's a trade I have been waiting for the shift 0 to go back under the shift 1 before I put the buy EA on again . Opposite for sells.
  • #1,276
  • Apr 7, 2010 6:15pm Apr 7, 2010 6:15pm
Quoting Toothman
After a stop or TP by the manager, EA will automatically open another buy if 6MA (shift 0) is above 6MA(shift 1) and the opposite for sell. After the manager stops or TP's a trade I have been waiting for the shift 0 to go back under the shift 1 before I put the buy EA on again . Opposite for sells.
Toothman, if understand correctly, what you are doing is to manaully remove 6X6 EA EA after 6X6 EA opens order upon MA crossing and MPTM stop or TP the order. Am i correct?
  • #1,277
  • Apr 7, 2010 6:22pm Apr 7, 2010 6:22pm
Quoting earthca
BOB, thanks for your expaination.

I turned on both MPTM and 6X6 EA downloaded from post#1172. If an order is opened and subsequently closed by MPTM at BE, the new order was immediately opened by 6X6 EA. I understand I need put the code from toothman to stop this from happening.

My question is for 1st Level only not the one for reenter at 200pips. Let's say an order is opened by 6X6 and closed by MPTM, will you open another order before another 6X6 cross?...
My philosophy is a little differetn. Even though no one desires DD my feelings are I can bring any DD back to zero if I am patient enough and chip away at it over time. If you have noticed I have already 0 out the eur/jpy and chf/jpy DD and now I will work on the aud/jpy and gbp/jpy DD. Instead of taking losses I use my profits and countertrades to eliminate them over a period of time. This is very hard to teach and to get others to understand but I am hoping over a period of time and by daily example you can see how I do that.

My feelings on SL are you end up beating your head against the wall trying to make profit because I always seem to take enough SL to never get anywhere. My first two years of trading were like that. Make some money, lose it with SL and then going into the hole and then trying to catch back up to break even. Very frustrating. Got tired of that game. Maybe I am a little arrogant but I now believe I can take any DD and over time zero it out which means I will always keep my profits. It is a trading skill that takes time to develop. If you can make money using SL be my guest but I prefer to zero out my DD. So you can watch me do it with this latest DD.

I do use manual SL but it is around 4-500 pips. I get 1-3 of those a month as an average. 1 so far this month.
  • #1,278
  • Apr 7, 2010 7:01pm Apr 7, 2010 7:01pm
Good week going so far, brought my month back into profit, still trying to avoid taking a SL on the aud/jpy. Dont know how much longer I can keep doing that. Will not be patient with it now that I am sitting in profit. The MPTM keeps cranking out around a 100 pips a day. That is really helping my decision making. It allows me to be patient with these JPY trades and getting out with better positions. Really tempted to take out that gpb/jpy but will hang on through the jpy session to see if it lessens the DD. Probably wipe it out before the Euro session. Then will work on the aud/jpy.
TAKE PROFITS
MPTM 12 at +10 = 120
aud/nzd +10 had 2MPTM for +10 and closed the third time at +10 so 30 pips total for the day but 2 of them are already counted in the MPTM total.
gbp/nzd +100
gbp/chf +40
Usd/Cad +28
CLOSED FOR LOSS

OPEN TRADES
aud/chf -200 2L -45
Aud/jpy -394 2nd -181 3rdL +17 (had 3 MPTM off the 3rd L so that is 7 in two days for +70 pips )
aud/usd, -80 2L -8 had 1 mptm yesterday
eur/cad, -17 had 1 mptm yesterday
eur/gbp -101
gbp/chf -167 2L -8 I could have zeroed out this trade when I profited the 2nd L but it looked good to keep the 1L going. Didnt turn out that way so added a 2L again.
gbp/jpy 2nd L -150 3rdL +5 (I have banked enough pips to profit on this group of trades this week) Going to ride it longer though but not much longer RWB are near the bottom.
gbp/nzd, -94
gbp/usd -71
usd/chf, -60
usd/jpy -92 2ndL -30 3rdL did a MPTM +10 and did not reenter the trade price too close together for 3L
TOTALS
total for day +298
for the week +637
for the month +252
Carry over -1676
primary trades
BUYS eur/aud

SELLS nzd/chf
Secondary trades
BUYS eur/nzd eur/usd
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]
  • #1,279
  • Apr 7, 2010 8:31pm Apr 7, 2010 8:31pm
Quoting earthca
Toothman, if understand correctly, what you are doing is to manaully remove 6X6 EA EA after 6X6 EA opens order upon MA crossing and MPTM stop or TP the order. Am i correct?
I usually take the EA off the chart after the trade initiates but I don't have to worry about it reentering if I don't take it off right away because I've altered the code to stop reentries. I wait for the MA's to get into position again after the manager closes the trade and then apply the EA to the chart again.
  • #1,280
  • Edited 11:20am Apr 8, 2010 11:04am | Edited 11:20am
Hello Bob --

Just wanted to comment how true it seems the sixths lines are as S/R. Looked pretty good all the way down to M1! Guess that should be no surprise. (I even scalped a couple on M1 but much prefer H4.)

A question: on your daily recap page you note your (planned?) entries. Does this represent an expectation over the next few hours as you (hopefully) get your 6x6?

I am also an educator. Just wondering if you had solid Mandarin (or other regional dialect where you are in the south of China) as you arrived in country? If not, how long did that process take to acquire adequate utility in the language? Of course, I mean a speaking facility . . . I assume the characters come along more slowly with specific need. [forgive me for putting this here on the trading side; this probably should be a PM]

Best, Forest
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