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Nanningbob 4H trading system

  • #1,381
  • Apr 22, 2010 7:43pm Apr 22, 2010 7:43pm
Quoting roachroach
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....
If I were trading this chart manually, I wouldn't have entered yet. I'd wait for Red,White and Blue to be at extremes with price in bottom 1/3 ,1/4 of chart and then confirmed divergence. That is, you get a lower low with the next 4HR candle closing higher. I also have a couple other rules I follow when it comes to divergence. The divergence has to be spread over at least 4 candles but no more than 5 days. The confirmation candle has to be green for a buy and not a pin bar or spinning top with a tail pointing up. On the chart below, if that last green candle finishes green and doesn't finish with a tail up, I'm in at close. Why the two RSI indicators? One is a high and one is a low. Look at the low when your getting lower lows and the high for higher highs.
Attached Image (click to enlarge)
Click to Enlarge Name: chart.gif Size: 22 KB
  • #1,382
  • Apr 23, 2010 3:43am Apr 23, 2010 3:43am
Dilemma...

Let's say you've got a good signal to short a currency on one pair, and a good long signal for the same currency on another pair (this is happening with AUD now). What would you do?
  • #1,383
  • Apr 23, 2010 3:46am Apr 23, 2010 3:46am
For those who have 6 digits pairs (good news for me! just what I was looking for):
5d EA enters correctly! I'm not sure it'll manage the recovery system, but I don't care as I'll manage this manually, turning off EA template as soon as it enters L1.
  • #1,384
  • Apr 23, 2010 4:17am Apr 23, 2010 4:17am
Quoting roachroach
Dilemma...

Let's say you've got a good signal to short a currency on one pair, and a good long signal for the same currency on another pair (this is happening with AUD now). What would you do?
I took three aud pairs. It depends on if the currencies are related. For instance the gbp, euro, and chf are all similar but the aud/nzd is not. Aud/cad is good buy since it dropped off of a nonevent. The Cad did not raise its rates so the news made it move crazy. However, not raising rates makes a good rebound trade the next day or two later. Aud/chf Makes a great sell because Euro currencies are all showing weakness across the board. Aud/nzd is a great buy and the NZD is not related to any thing happening in Europe. So I have sells on aud/chf, and buys on aud/cad and aud/nzd.
  • #1,385
  • Apr 23, 2010 4:24am Apr 23, 2010 4:24am
Well thanks for your knowledge. This means I'm on the right tracks, but I was a bit scared. I'm short on audchf and long on audcad.
  • #1,386
  • Apr 23, 2010 6:22pm Apr 23, 2010 6:22pm
Wow, this is clearly turning into my greatest trading month ever. Hopefully that last statement wont be a knock on wood with a week left but I am getting excited. First lets give that MPTM a big hand for nailing 230 pips in one day, that was a record. WOW. That thing was busy all day long. Probably too busy and is an example of how you may have lost pips to the broker but most of the time I feel I do better with it.Anyway +767 pips in one day, I will take that. I am taking my wife out to the best restaurant in Nanning this weekend.
Dare I whisper a 4000 pip month. Is that even possible. Egads did I even say that. And this month started with the biggest DD I have ever had since I started posting last AUG. WOOOOOOOO WEEEEEEEEEEEEEE.
TAKE PROFITS
MPTM 23 at +10 = +230
aud/chf, +47
aud/jpy +45
chf/jpy, +10 dont know what happened here. The MPTM took a profit and the EA didnt reenter. I wonder if I accidently took it off.
eur/aud +127
eur/cad, +49
eur/jpy +50
eur/nzd +50
eur/usd, +59
gbp/nzd +44 Got 4 MPTM on this. This is an example where the MPTM did not give you the best returns on a trade but that is how it worked out.
usd/chf +72 3rd level
CLOSED FOR LOSS
aud/cad, -6 I never did put a 2L trade on this, dont know why?? I think I missed it and just let it go.
OPEN TRADES
aud/jpy, -53
aud/nzd, -14
eur/cad, -51
eur/nzd -78
eur/gbp -54
gbp/chf, -108 -33 did get 2MPTM on this one.
gbp/jpy -177 2L -22
gbp/usd -59 Got 4 mptm on this one also then price reversed off of the last one
nzd/chf, -102 2nd L -16
nzd/jpy, -109 2nd L -14
usd/chf -119 2ndL +3

BUYS
TOTALS
total for day + 767
for the week +1765
for the month +3866
Carry over -1006
Primary trades
BUYS aud/nzd

SELLS

Secondary trades
BUYS

SELLS usd/jpy, nzd/usd

Look for entrances after the gaps on next weeks opening.

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]
  • #1,387
  • Apr 23, 2010 6:37pm Apr 23, 2010 6:37pm
After I posted my largest DD earlier this month some guy voted against the system. Wonder what he thinks today. I wish I knew who he was so I could send the results for the month.
  • #1,388
  • Edited Apr 24, 2010 1:13am Apr 23, 2010 8:06pm | Edited Apr 24, 2010 1:13am
Bob, congratulations on a fantastic week. Wish I was in your shoes!
Have a great weekend, dude.

Wow, this is clearly turning into my greatest trading month ever. Hopefully that last statement wont be a knock on wood with a week left but I am getting excited. First lets give that MPTM a big hand for nailing 230 pips in one day, that was a record. WOW. That thing was busy all day long. Probably too busy and is an example of how you may have lost pips to the broker but most of the time I feel I do better with it.Anyway +767 pips in one day, I will take that. I am taking my wife out to the best restaurant in Nanning this weekend.
Dare I whisper a 4000 pip month. Is that even possible. Egads did I even say that. And this month started with the biggest DD I have ever had since I started posting last AUG. WOOOOOOOO WEEEEEEEEEEEEEE.
  • #1,389
  • Apr 24, 2010 4:56am Apr 24, 2010 4:56am
Quoting nanningbob
Wow, this is clearly turning into my greatest trading month ever. ........
Congratulations, you deserve it for your untiring & courteous posts

Enjoy your celebration meal --
  • #1,390
  • Apr 24, 2010 4:33pm Apr 24, 2010 4:33pm
Wow Bob, I'm really happy for you. So many pips! (So, how was that great restaurant?!)
I've been trading your system for 10 days and already +751 pips in my bag (-121 carry over)!
What's really great is that even when I had a -400 DD I wasn't that scared. You've just gotta trust the system and not chicken out closing negative trades. That's a great lesson...

As I'm seriously considering going live in a few weeks (I need to exercise myself a bit more on DDs, and how to manage them better), I wanted to know about money management with this sytem. With other systems I've traded with, I used to trade X lots according to my stop loss and my balance so I wouldn't risk more than 3% of it. But here, with your system having no defined stop loss, I'm wondering how many lots I should trade each time. I'm thinking of opening a 1500$ account.

Thanks again for your help! I'm really looking forward to V.3. By the way, will it include MPTM? (Those everyday +5's & +10's would be greatly appreciated!)
  • #1,391
  • Apr 24, 2010 7:23pm Apr 24, 2010 7:23pm
Hi Bob,

I have been following the thread for a while now and have taken many primary trades on demo just getting use to the system (still not good at selecting secondary trades with confidence). Just wanted to say that this is one of the only threads on FF where someone has shown their results with so much detail and consistency over a long period of time. In many threads, even many popular threads, results are just talked about anecdotally. I really appreciate all the hard work you put into this system's development and the teaching of the system to others. I currently trade on shorter time frames but want to learn to trade in a way where I don't have to be in front of the screen for 10 hours per day.

I am excited about the V3 manual - will probably read it the moment it is released and get started demo'ing things.

Regards,
McPip
Trading Foreign Exchange....But Only By The Grace of God!
  • #1,392
  • Apr 24, 2010 8:22pm Apr 24, 2010 8:22pm
Hi Bob

very good news. I hope you enjoyed your night out with your other half.

It may be a good idea to start a new thread with the version 3. It would be helpful to the newbies and you can get rid of the poll.

Kind regards
  • #1,393
  • Apr 25, 2010 2:09am Apr 25, 2010 2:09am
Quoting astral77
Hi Bob

very good news. I hope you enjoyed your night out with your other half.

It may be a good idea to start a new thread with the version 3. It would be helpful to the newbies and you can get rid of the poll.

Kind regards
Your right, I think it is time for a new thread. The sixths indicator is revolutionary and worth its own spot. I will post the 4D version here and get it tested and then the 5D finish the screen, update the booklet. Get to the point we can find things again.
  • #1,394
  • Apr 25, 2010 3:06am Apr 25, 2010 3:06am
Actually this is version 4. I never really published version 3 even though I wrote the book and EAs. I am more comfortable with a MA cross than I was with the high/low system. Test it out, read it and let me know. Sorry only had time to put the 4D version up. You can make your own buy and sell screens for now. Just a blank template. That took 10 minutes to upload, hope you can download it. Good luck Version 4
Attached File(s)
File Type: zip NB 4H Version 4.zip   1.4 MB | 1,222 downloads
  • #1,395
  • Apr 25, 2010 6:11am Apr 25, 2010 6:11am
Quoting nanningbob
Actually this is version 4. I never really published version 3 even though I wrote the book and EAs. I am more comfortable with a MA cross than I was with the high/low system. Test it out, read it and let me know. Sorry only had time to put the 4D version up. You can make your own buy and sell screens for now. Just a blank template. That took 10 minutes to upload, hope you can download it. Good luck Version 4
thanks Bob for this update. Could you please also load your buy/sell templates with the 6x6 eas? I'm trying to drag and drop the new eas on a chart but keep having the icon.
Thanks for your help.
  • #1,396
  • Apr 25, 2010 9:38am Apr 25, 2010 9:38am
Quoting roachroach
thanks Bob for this update. Could you please also load your buy/sell templates with the 6x6 eas? I'm trying to drag and drop the new eas on a chart but keep having the icon.
Thanks for your help.
When you drag the EA onto the screen you have to check the box 'allow live trading' under the common tab. I dont have those screens yet, I have been dragging the EAs onto the screen for now.
  • #1,397
  • Apr 25, 2010 12:28pm Apr 25, 2010 12:28pm
NB,

Do you trade two instances of each pair? One with MPTM and one without?
  • #1,398
  • Apr 25, 2010 1:33pm Apr 25, 2010 1:33pm
Wow, this is clearly turning into my greatest trading month ever. Hopefully that last statement wont be a knock on wood with a week left but I am getting excited. First lets give that MPTM a big hand for nailing 230 pips in one day, that was a record. WOW. That thing was busy all day long. Probably too busy and is an example of how you may have lost pips to the broker but most of the time I feel I do better with it.Anyway +767 pips in one day, I will take that. I am taking my wife out to the best restaurant in Nanning this weekend.
Dare I whisper a 4000 pip month. Is that even possible. Egads did I even say that. And this month started with the biggest DD I have ever had since I started posting last AUG. WOOOOOOOO WEEEEEEEEEEEEEE.

welldone. allthough this my first look at the thread it shows your persistance.
  • #1,399
  • Apr 25, 2010 1:50pm Apr 25, 2010 1:50pm
Quoting nanningbob
When you drag the EA onto the screen you have to check the box 'allow live trading' under the common tab. I dont have those screens yet, I have been dragging the EAs onto the screen for now.
Perfect it works! Thanks. (How many "thanks" have I sent you? Not enough i guess...)
  • #1,400
  • Apr 25, 2010 11:27pm Apr 25, 2010 11:27pm
Hey Bob, have you ever tried trading weekly and monthly time frames with this system?
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