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Nanningbob 4H trading system

  • #1,401
  • Apr 25, 2010 11:50pm Apr 25, 2010 11:50pm
Quoting wyattgoettsc
Hey Bob, have you ever tried trading weekly and monthly time frames with this system?
Yes and No. I am not that patient of a trader but I am sure it would work. That is long term stuff, to sit on a trade for weeks or months. That is what true fundamental traders do. You have to know your currency fundamentals really well to know when to get in or out of a trade. They love to play off of S/R lines. I am not that patient. But I am sure the Sixths Indicator would help in finding them.
  • #1,402
  • Apr 26, 2010 3:16am Apr 26, 2010 3:16am
Hi Bob,

About MPTM, I've playing around with this EA and the thousands of possiblities/options. As you've tested it for quite a long time now, what do you reckon are the best settings so far, and also, the settings to apply so that the EA doesn't interfeer with other open trades and stuff...?

Cheers.
  • #1,403
  • Apr 26, 2010 4:16am Apr 26, 2010 4:16am
Quoting roachroach
Hi Bob,

About MPTM, I've playing around with this EA and the thousands of possiblities/options. As you've tested it for quite a long time now, what do you reckon are the best settings so far, and also, the settings to apply so that the EA doesn't interfeer with other open trades and stuff...?

Cheers.
I only use two settings Breakeven with a +10 profit after 20 pips and Jump Stop. It moves the stop loss every 25 pips. The rest of the EA I dont find that useful at least not at this point. You can change the settings in the EA to work with any currency pair only or any magic number etc. You will have to set them yourself. I am happy with the BE part and that is all I plan on using.
  • #1,404
  • Apr 26, 2010 4:16am Apr 26, 2010 4:16am
Hi Bob, what's your personal opinion on the EURNZD?
I'm on the 3rd level trade right now on that one, still waiting for the price to turn back upwards, the damn pair.

Thanks buddy!
  • #1,405
  • Apr 26, 2010 4:29am Apr 26, 2010 4:29am
Quoting silv3r4sh
Hi Bob, what's your personal opinion on the EURNZD?
I'm on the 3rd level trade right now on that one, still waiting for the price to turn back upwards, the damn pair.

Thanks buddy!
Well I guess you're not the only one! Just opened my -200 second level long trade.
  • #1,406
  • Apr 26, 2010 5:20am Apr 26, 2010 5:20am
Quoting nanningbob
I only use two settings Breakeven with a +10 profit after 20 pips and Jump Stop. It moves the stop loss every 25 pips. The rest of the EA I dont find that useful at least not at this point. You can change the settings in the EA to work with any currency pair only or any magic number etc. You will have to set them yourself. I am happy with the BE part and that is all I plan on using.
Ok so this is what I did:
Opened a random chart (eurusd here). Opened the "6x6 be jump" template. Changed the jump stop from 30 to 25. Now I've got a black screen where I can see all my ongoing trades, equity and breakeven. Have I just got to wait until the next 6x6 cross on one of these pairs, and a trade will open automatically?
Also, some of my charts are still with 3x3 MA. Must I change all of them to 6x6 for the MPTM to manage them?
I hope I'm not bugging you with my questions!

Thanks!
Attached Image (click to enlarge)
Click to Enlarge Name: 26 april 6x6 be jump template nb.gif Size: 9 KB
  • #1,407
  • Apr 26, 2010 5:32am Apr 26, 2010 5:32am
Quoting roachroach
Well I guess you're not the only one! Just opened my -200 second level long trade.
We may have to quit trading the EURO soon it is collapsing from the Greek Crisis and rumors.
  • #1,408
  • Apr 26, 2010 5:39am Apr 26, 2010 5:39am
When you are learning a system you should not be trading the high volatile pairs. Unless you are ready for 5-800 DD you shouldnt touch EUR/NZD or GBP/NZD, along with the gbp/jpy. I make a lot of money on the eur/nzd but I also have traded it for a couple of years. It is a nasty pair that can move 4-800 pips in one day. The GBP/NZD I actually use 250-300 pip reentries. So Downsize that puppy and leave it alone. It is not worth trading live unless you really know what you are doing.
  • #1,409
  • Apr 26, 2010 5:44am Apr 26, 2010 5:44am
Quoting roachroach
Ok so this is what I did:
Opened a random chart (eurusd here). Opened the "6x6 be jump" template. Changed the jump stop from 30 to 25. Now I've got a black screen where I can see all my ongoing trades, equity and breakeven. Have I just got to wait until the next 6x6 cross on one of these pairs, and a trade will open automatically?
Also, some of my charts are still with 3x3 MA. Must I change all of them to 6x6 for the MPTM to manage them?
I hope I'm not bugging you with my questions!

Thanks!
That is what the screen looks like. The MPTM does nothing until and EA enters a trade. It only moves the SL. That is all it does.
  • #1,410
  • Apr 26, 2010 5:48am Apr 26, 2010 5:48am
Quoting silv3r4sh
Hi Bob, what's your personal opinion on the EURNZD?
I'm on the 3rd level trade right now on that one, still waiting for the price to turn back upwards, the damn pair.

Thanks buddy!
Have fun with this one. I just checked the monthly chart and it doesnt look pretty for this one. Evidently no one in NZD thinks much of the EURO lately it is on a 1 year nose dive and there are no support levels. Have no idea, I may just eat this one and dont bother with it. I will let it run today and see what happens. Sometimes you are just on the wrong end of a collapsing currency.
Attached Image (click to enlarge)
Click to Enlarge Name: eur nzd monthly.gif Size: 19 KB
  • #1,411
  • Apr 26, 2010 6:05am Apr 26, 2010 6:05am
I closed my middle 2L trade on the EUR/NZD and will go with a 300 reentrance spread and see if I can survive this. So I had already earned half of the loss today so I used it to close it out. I hope to break even on that loss and then see if I can zero my way out of htis one. This looks nasty.
  • #1,412
  • Apr 26, 2010 6:15am Apr 26, 2010 6:15am
Hi Bob,
Could you advise your settings for the following MPTM parameters? Thanks heaps!

BreakEvenPips
BreakEvenProfit
JumpingStopPips

Quoting nanningbob
I only use two settings Breakeven with a +10 profit after 20 pips and Jump Stop. It moves the stop loss every 25 pips. The rest of the EA I dont find that useful at least not at this point. You can change the settings in the EA to work with any currency pair only or any magic number etc. You will have to set them yourself. I am happy with the BE part and that is all I plan on using.
  • #1,413
  • Apr 26, 2010 6:33am Apr 26, 2010 6:33am
I got too frustrated and took the loss with a brave face, closing all my trades on this pair.
From now on, only sell orders on the EURXXX pairs.


Quoting nanningbob
I closed my middle 2L trade on the EUR/NZD and will go with a 300 reentrance spread and see if I can survive this. So I had already earned half of the loss today so I used it to close it out. I hope to break even on that loss and then see if I can zero my way out of htis one. This looks nasty.
  • #1,414
  • Apr 26, 2010 6:44am Apr 26, 2010 6:44am
Quoting silv3r4sh
Hi Bob,
Could you advise your settings for the following MPTM parameters? Thanks heaps!

BreakEvenPips
BreakEvenProfit
JumpingStopPips
It is in the new folder. but they are at +20 set SL at +10. Jump every 25 pips. I like jumpstop better than trailing stop. If you get a good runner it is less likely to stop out. I also used a +15 SL at +5 for a while and it worked good too. But I am happy at +10
  • #1,415
  • Apr 26, 2010 6:47am Apr 26, 2010 6:47am
Quoting silv3r4sh
I got too frustrated and took the loss with a brave face, closing all my trades on this pair.
From now on, only sell orders on the EURXXX pairs.
The EUR/NZD is different than most other pairs. It will go 700 pips one way and retrace 400 pips back in one session. You have to be patient willing to ride it out. But the EURO does worry me. Too much talk of Germany pulling out or kicking out several countries. Either way the Euro will be all over the place if these rumors start having some truth to them. Instead of the USD being all over the place OCT. 2008 it will be the EURO doing it. Gonna make it tough trading.
  • #1,416
  • Apr 26, 2010 6:52am Apr 26, 2010 6:52am
This is the first divergence indicator I've found that alerts on regular and hidden divergence. It displays with a one bar delay so there are no repainting issues. http://codebase.mql4.com/1115
  • #1,417
  • Apr 26, 2010 8:16am Apr 26, 2010 8:16am
Sorry Bob, just to clarify, is that:

BreakEvenPips = 20
BreakEvenProfit =10
JumpingStopPips =25

Let me know if that's wrong, thanks again

Quoting nanningbob
It is in the new folder. but they are at +20 set SL at +10. Jump every 25 pips. I like jumpstop better than trailing stop. If you get a good runner it is less likely to stop out. I also used a +15 SL at +5 for a while and it worked good too. But I am happy at +10
  • #1,418
  • Apr 26, 2010 9:53am Apr 26, 2010 9:53am
Quoting silv3r4sh
Sorry Bob, just to clarify, is that:

BreakEvenPips = 20
BreakEvenProfit =10
JumpingStopPips =25

Let me know if that's wrong, thanks again
That is what I have been using. For example. I took a loss on the L2 Eur/nzd but my MPTM has regained 75% of that loss already. Now if I get my retrace or BE on that pair I am out with very little damage. For most traders that trade would be a disaster but with my system and a little patience and smart trading you get out with just a little worry for a time.
  • #1,419
  • Edited 3:14pm Apr 26, 2010 11:02am | Edited 3:14pm
Quoting nanningbob
That is what I have been using. For example. I took a loss on the L2 Eur/nzd but my MPTM has regained 75% of that loss already. Now if I get my retrace or BE on that pair I am out with very little damage. For most traders that trade would be a disaster but with my system and a little patience and smart trading you get out with just a little worry for a time.
Ok so let's say you were short on EURNZD with your 6x6 SELL EA ON. Even if you are short with this EA, MPTM manages long trades retracements? I thought MPTM only entered trades going the same direction as the EA applied on the chart. So basically MPTM will manage crosses either direction during your main/initial trade (only if the 6x6 is still on)? Am I correct?

If I am, I open a primary trade following your rules, and let MPTM manage zigzags/retracements during that trade to "scalp" some pips here and there, and it will never close the first/initial trade. Is that correct?

Thanks Bob for your help.


Update:
Maybe a partial answer from myself... MPTM just tried to open a long trade upon an MA cross. I had no trades running on this pair. So apparently MPTM runs on any pair with an open chart. OK. Thing is, I've had an alert telling me : "EURUSD buy trade. Jumping stop function failed to set SL at breakeven, with error(130): invalid stops" (I'm using the EA in the V4 package, just change the "30" line to "25"). Is it because of a 6digit pair? Any idea? I'll see later if MPTM enters correctly with 4 and 5 digits...


Update2: Or maybe it just tried to enter because the MPTM black screen is on EURUSD chart.... I'm lost!!
  • #1,420
  • Apr 26, 2010 12:29pm Apr 26, 2010 12:29pm
I'm liking this system quite a bit, and trading it on a micro account. I just downloaded the new 6x6 indicators on the v4 system. However, I can't trade EA's with my broker, so am trading this manually. Not really a problem.

I'm seeing a good trade on NZD/JPY, so will be entering that as soon as I get home. That's one nice thing about EA's, they can place trades while you are away at work! But this being a 4H time frame, unless the pair really takes off, it is safe to assume the trade will still be valid after another bar.

One thing I'm not very clear on, is what initial stop losses NB is using. One thing that should would work well is to use the distance between the Yellow and Blue sixth indicator, and then put your SL that far away from initial entry. I assume the EA's already set a S/L, but I'll be putting these in manually as I said before.

I believe that as long as we manage the "runners" (those pairs that zoom in one direction without retracing) this system is quite robust. Esp. for pairs which are known for rangy behavior.
Disregard all prognostications.
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