Nanningbob 4H trading system

If You didn't turn it off (use 6x6 blank template) and MA's are still in direction of trade, EA reenters at MPTM BE.

Hey Bob
I got a message the other day saying I had stolen a 50x50 basket idea of yours, thought it was quite funny as I'm sure I would have told you on skype haha

thinking of it I'm not sure what the 50x50 basket is

Well dont worry my friend, none of my systems are basket systems. We trade each currency individually based on certain criteria. So you are safe with me. Wont be coming to visit you from China with a tire iron.

Barring any surprises I will pass the 3000 pip mark today. I have never done that before.
TAKE PROFITS
MPTM 8 at +10 = +80
aud/jpy, +36
aud/usd +37
CLOSED FOR LOSS

OPEN TRADES
aud/chf, -20
aud/jpy, -1
aud/usd, -15
eur/gbp -7 EA has not crossed but I manually entered a trade at the S line
gbp/chf, -22 EA has not crossed but I manually entered a trade at the R line
gbp/nzd +2 EA has not crossed but I manually entered a trade at the R line
nzd/chf, -10
nzd/jpy, +21
usd/chf -86

TOTALS
total for day +153
for the week +841
for the month +2942
Carry over 0
primary trades
BUYS aud/cad, eur/cad

SELLS
Secondary trades
BUYS eur/gbp
SELLS gbp/jpy, gbp/nzd, gbp/usd

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.

Take it to the bank folds gbp/nzd, gbp/chf enter at the R Line, it doesnt get better or safer than that. For you to get into trouble price has to blow off the screen, a very unlikely event. Not going to say it never happens but is a rare event. So bet the house today.

What does that mean "it reenters at MPTM BE"? Thanks!

Lets say 6x6 Buy EA enters a buy order. You set MPTM to BE+10 at 20. Price goes up 20 pips and MPTM sets SL at BE+10. Now price returns down and hit SL. If 6x6 EA is still on and MA's didn't cross down, 6x6 Buy EA open immediately another buy order.

Thanks for that. But wouldn't be that almost the same as let the initial trade open without paying the additional spread?

It was discussed on this thread.
This is Bob's example
http://www.forexfactory.com/showpost...postcount=1298

Thanks Patreze!

I just think about it and scratch my head. Because when you set a SL only 10 pips away you often just get stopped out due to the noise. Reentering right at the SL level again doesn't look that sexy to me. Sorry if I don't get that right yet.

I see you get a lot of those +10 pips BE trades which is great. All those trades mean that the position was in the plus 20 pips at least. As the probability of getting stopped out at BE with a 10 pips stop (initially) you could just set a tp of 20 pips and all those +10 pips BE trades would be immediately +20 pips.

Of course in that case we have the problem that there are trades which don't look back and we need some runners as well. So maybe one could just close one half at +20 and let the remaining half run without that BE stop?

I just think about to optimize this a bit. The system here is one of the most logical and best out there. It will always work because it just simple and rock solid.

Well, I say try it, test it and then share it with us

Right, finally I got it. The main goal is just to exploit the short term randomness and price fluctuations and collect those 10 pips ever and ever again.

That reminds me on grid trading where you just set a tp of 10 pips and place several pending stop (buy/sell) orders in the direction of the move. Should work the same way as this is almost exactly what happens beside the fact that you use a SL to catch those 10 pips and reenter there where it would be the same to initially use a tp of 10 pips and reenter there. The only difference is the case where the price just go ahead without looking back.

1. There is one more scenario and this is the benefit. If you are in the same 4H candle yes the EA will always reenter. However if you are in a new candle then all the lines have moved and on a retrace you may also get a cross back up and no reentrance. This does not happen often but it can and so you pick a different entrance later. This is when prices are in a very tight range. At first it seems crazy, you just seem to be paying the spread over and over again but total pip wise I pick up a lot more pips this way.
2. Where the benefit comes is over a period of days where price action is going nowhere and you pick up 1 one day. 2 the next, 1 the next and then price takes off somewhere. It was an extra 40 pips I did not pick up before. Lets say price went against you and you have to do a 2nd level and later you zero out or take a small profit/loss trade. That is 40 pips you never would have gotten if you had just played the cross. That 1st level trade got you nothing but a loss on the books and your only profit came from the 2nd level. At least this way you got something from that trade.
3. So lets say the MPTM picked up +40 but later you closed a zero out trade of -100 1st level and +100 2nd level for 0 but with the MPTM that series of trades bagged you an extra 40 which ended up being your profit on a zero out trade sequence. Clear as mud yes???
4. When you think of trading I think of a trade sequence instead of one single trade win or lose. When I have a DD in a currency pair, I might end up with 8-15 trades before I am done. Maybe 40% are MPTM, 1 or 2 are losing trades and the rest were profitable. So the entire trade sequence is really your profit or loss. That sometimes is the hard part to grasp and understand.

For example I was into the AUD/JPY for most of the month on one big long trading sequence. I did 36 closing trades on it. Here is the breakdown:

1. 21 were MPTM for 210 pips
2. 5 were for losses for -484
3. 10 were winners for +357

Without the MPTM my pip profit is smaller than my pip loss. (You must remember my losses are 1st level trades and they have the lowest lot size, so moneywise I make money even though I have lost more pips than won.) So with out the MPTM I am -127 pip wise (money wise there was a small profit) But with the MPTM I am +83 pip wise and sitting on a much bigger profit. Anyway that is my breakdown on that trade sequence.

How could I have avoided this situation?
RWB, RSI in oversold zone, price under 6th line...
Time to go on a recovery ride...

We can see some RSI divergence on those lower lows, so maybe not enough momentum to continue... Dunno....

I'm inside this one too and even deeper in trouble with EUR/NZD on 4H sixth system. Let's hope they are back soon

Almost took this one but didn't. Price did go deeper 2 weeks ago, so I felt it could go deeper for a retrace. I get really scary with very fast pair so I really wait until the retrace signal is confirmed by a nice clean MA cross. My buy EA is on for this pair.
It seems like a lot of pairs are breaking supports.
My EA opened long on EURGBP because of a spike, but no retracement yet, still going down.

I wonder if GBP/CHF is going down at last? it is quite stubborn.

There are not guarantees that is why we multi level and if that fails we uses the 2.4.2 recovery system. It is all part of the package. Price action dictates what we do next.

Ok. Crossed the 3000 pip barrier and getting some backup here. See how the day goes.
TAKE PROFITS
MPTM 12 at +10 = +120
aud/usd, +37
CLOSED FOR LOSS

OPEN TRADES
aud/cad, -7
aud/chf, -81
aud/jpy, 0
eur/cad, -60
eur/gbp -119
gbp/chf, -82
gbp/jpy -79
gbp/nzd -30
nzd/chf, -75
nzd/jpy, -1
usd/chf -183 2ndL -19

TOTALS
total for day +157
for the week +998
for the month +3099
Carry over -736
primary trades
BUYS chf/jpy, eur/usd, eur/nzd

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 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]