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Nanningbob 4H trading system

  • #1,461
  • Apr 29, 2010 4:17am Apr 29, 2010 4:17am
Quoting BenScoobert
I use www.logmein.com to access my machine at home, there is even an iphone version. hope this helps, the other option is to rewrite the ea to do exactly as you would if you were there, maybe try this
http://sufx.core.t3-ism.net/ExpertAdvisorBuilder/
Ben, Thanks for the logmein tip, I already use this system and it's great.

Concerning the EA, I'll try to figure out how the coding works. I'm really a noob when it comes to MQ4!

I'm sure MPTM can work with 6 digits. I mean it can't be that complicated! Tried to contact Steve Hopwood, but no reply...
  • #1,462
  • Apr 29, 2010 4:18am Apr 29, 2010 4:18am
Hello all,

this is my first post here, been trying to keep up with this thread but it's hugh now. congrat's on your system nanningbob, it looks really original and interesting. It also helps when you have top people posting.

I'm relatively new to forex. And am totally new to the Metatrader4 system (using Alpari uk - demo account). I've never used an EA before until now. If i want an auto sell do i just click 6x6 sell MLx then let it run? or do I have to alter any setting like go into it's properties and switch on "allow live trading"? As I can't seem to get them working.

e.g. GBP/USD 4hr chart. I've opened EA 6x6 Buy MLx but it's not bought when MA's crossing.

Thanks all.
  • #1,463
  • Apr 29, 2010 5:00am Apr 29, 2010 5:00am
MPTM 6 DIGITS SOLUTION:

Ok, finally found out a solution.
Take the "MPTM BREAKEVEN EA", and change breakeven to 200 (instead of 20) and break evn profit to 100 (instead of 10). If you want to use a jump of 30 pips, change it to 300. Also, change manage this pair only to "true" and manage all pairs to "false". Save this new EA to "MPTM BREAKEVEN EA 6 DIGITS"

How to use it? open a trade manually or with 6X6 EA, and drag and drop your 6D MPTM EA to manage your trade.


At last...
  • #1,464
  • Apr 29, 2010 6:12am Apr 29, 2010 6:12am
good job you!
although i have a feeling bob did mention this a few dozen posts ago...

Quoting roachroach
MPTM 6 DIGITS SOLUTION:

Ok, finally found out a solution.
Take the "MPTM BREAKEVEN EA", and change breakeven to 200 (instead of 20) and break evn profit to 100 (instead of 10). If you want to use a jump of 30 pips, change it to 300. Also, change manage this pair only to "true" and manage all pairs to "false". Save this new EA to "MPTM BREAKEVEN EA 6 DIGITS"

How to use it? open a trade manually or with 6X6 EA, and drag and drop your 6D MPTM EA to manage your trade.


At last...
  • #1,465
  • Apr 29, 2010 6:24am Apr 29, 2010 6:24am
Quoting roachroach
MPTM 6 DIGITS SOLUTION:

Ok, finally found out a solution.
Take the "MPTM BREAKEVEN EA", and change breakeven to 200 (instead of 20) and break evn profit to 100 (instead of 10). If you want to use a jump of 30 pips, change it to 300. Also, change manage this pair only to "true" and manage all pairs to "false". Save this new EA to "MPTM BREAKEVEN EA 6 DIGITS"

How to use it? open a trade manually or with 6X6 EA, and drag and drop your 6D MPTM EA to manage your trade.


At last...
A better solution
http://www.forexfactory.com/showpost...&postcount=482
  • #1,466
  • Apr 29, 2010 7:11am Apr 29, 2010 7:11am
oh i think i get it now..
do you mean there are now not 2, but 3 different types of brokers?

what i mean is previously, only 4 digit and 5 digit brokers
so now there are 6 digit brokers?? argh..

Quoting macman
A better solution
http://www.forexfactory.com/showpost...&postcount=482
  • #1,467
  • Apr 29, 2010 7:15am Apr 29, 2010 7:15am
yup and fxpro is one of them!
  • #1,468
  • Edited 12:23pm Apr 29, 2010 8:19am | Edited 12:23pm
Looks like kiwis are finding support... That'll be good for my DD.

Primary trades I took this morning (still going):

GBP/USD: +67
GBP/AUD: +12

--------------------------------------

Update, TP:
GBP/USD: +115
GBP/AUD: +90

At last some bulls on the old continent!

------------------------------------

Update:
The thread lost a star...
  • #1,469
  • Apr 29, 2010 3:06pm Apr 29, 2010 3:06pm
Quoting kraven
Hello all,


I'm relatively new to forex. And am totally new to the Metatrader4 system (using Alpari uk - demo account). I've never used an EA before until now. If i want an auto sell do i just click 6x6 sell MLx then let it run? or do I have to alter any setting like go into it's properties and switch on "allow live trading"? As I can't seem to get them working...
Kraven,

As you are new to Forex and MT4, I would advise you demo just using manual trades first. Even if you use NB's system, you can trade it manually. EA's are fine once you understand what you want them to do, but they can be confusing if you don't know why they are opening trades. Better that you know why you opened a trade yourself, so that you can study it and learn how to close it out properly.

Also, before anyone else says it, you should head over to babypips.com and take their entire course, you will learn about how much you do and don't know.

One other thing to be aware of, at least it bothers me.... MT4 allows your broker to see EVERYTHING you are doing, including all stop losses and take profits on every trade. This means they hold all the cards. There are some EAs, such as the MPTM that is used here, that will manage your trade and hide this info from the broker (at least we hope it does).

Anyway, welcome to the craziness that is Forex. Best damned market in the world, IMO.
Disregard all prognostications.
  • #1,470
  • Apr 29, 2010 3:10pm Apr 29, 2010 3:10pm
Quoting nanningbob
...In fact some mornings I spend 45 minutes trying to prepare my report. I dont know how much longer I can keep doing this. It is time consuming but also very essential that new traders...
Bob,
You have been more than helpful in explaining your system and sharing your trade experiences with us. Don't get burned out with posting on the forum - if you went to a weekly report instead of daily I'm sure most of us could still see what is happening.

Thanks again, when I have a 1000 pip week I'll be pleased, and you are having 1000 pip days lol
Disregard all prognostications.
  • #1,471
  • Apr 29, 2010 4:04pm Apr 29, 2010 4:04pm
Hi,
I would appreciate some advice here.
So these are my 3 trade levels causing a nearly 400 pip DD (ok they are too close, I won't do that in the future, but it's still a good exercise).
The 3rd level is retracing now, but I don't for how long.
What's the best strategy? Wait for it to hit L2 and closed everything? Or "scalping" some pips on L3 with bounces on the gold line?
I placed a TP for all 3 levels on L2.

What's your point of view? What would you do?

Thanks!


PS: also, to know how much space we've got to leave between 2 levels for each pair, the pip distance between white and gold looks good, and gives a pretty good idea of the volatility... Just an idea...

PS2: 1450 pips in 12 days of trading primary trades!! I'll be really happy when I'll get rid of my DD....
Attached Image (click to enlarge)
Click to Enlarge Name: 29 april gbpnzd 3l nb.gif Size: 33 KB
  • #1,472
  • Apr 29, 2010 5:31pm Apr 29, 2010 5:31pm
Quoting roachroach
Hi,
I would appreciate some advice here.
So these are my 3 trade levels causing a nearly 400 pip DD (ok they are too close, I won't do that in the future, but it's still a good exercise).
The 3rd level is retracing now, but I don't for how long.
What's the best strategy? Wait for it to hit L2 and closed everything? Or "scalping" some pips on L3 with bounces on the gold line?
I placed a TP for all 3 levels on L2.

What's your point of view? What would you do?

Thanks!


PS: also, to know how much space we've got to leave between 2 levels for each...
First your spacing is good. Your at support that it good. Every NZD currency is at a decision point. I have about the same thing except I am only two levels deep. I didnt get that firstlevel. If price went below that support you would close level 1 and take it as a loss. then find a new 3rd level. L 3 now becomes tricky. If it is making a nice profit I take that profit because price will oftne go back to the support level several times sometimes and I want that profit every time. This is where I get a lot of my MPTM. So anytime I am sitting on 100 pip profit I take it. The slower currencies 50. Anyway the GBP/NZD has bounced off S line now 4 times. I havent done as well with this one as I have with others but I have gotten 4 MPTM and one profit of 50 playing off that bottom. When price is changing direction it can sit at a bottom or top for several days before really reversing and you can pick up most of your DD there. I did that with the AUD/JPY at the beginning of the month and acutally covered almost all my DD from those bounces. So when price finally moved down on that pair and I zeroed out the trade I actually turned a profit. So play those bounces off of the S line and see how many times you can pick up some pips. Once you get the hang of it you really relax as a trader. These things happen all the time and you begin to see them coming. You just dont know when and where but they do come. For me on this trade, I already have broken even and if price now moves up, I will make a profit in this series of trades. I dont look at trading anymore one trade at a time, I now trade the series of trades and try to come out on top.
  • #1,473
  • Apr 29, 2010 5:35pm Apr 29, 2010 5:35pm
Quoting Pidgeon
Kraven,

As you are new to Forex and MT4, I would advise you demo just using manual trades first. Even if you use NB's system, you can trade it manually. EA's are fine once you understand what you want them to do, but they can be confusing if you don't know why they are opening trades. Better that you know why you opened a trade yourself, so that you can study it and learn how to close it out properly.

Also, before anyone else says it, you should head over to babypips.com and take their entire course, you will learn about how much you do and...
Thanks for your reply and concerns pidgeon. I've been looking into forex for a few months (stocks for many years) and have been to babypips many times. In those forex months i've been manualy trading with a spreadbet demo account.
It's the in's and out's of the MT4 i'm uncertain of, the systems so advanced compare to the other accounts i've used (i have several). I have been trading this system manualy. I just want to get more info from people in the know about EA's and how to switch them on etc.. I've learned a lot today mainly from "the simple 1hr GBPUSD thread".
  • #1,474
  • Apr 29, 2010 5:38pm Apr 29, 2010 5:38pm
Quoting kraven
Hello all,

this is my first post here, been trying to keep up with this thread but it's hugh now. congrat's on your system nanningbob, it looks really original and interesting. It also helps when you have top people posting.

I'm relatively new to forex. And am totally new to the Metatrader4 system (using Alpari uk - demo account). I've never used an EA before until now. If i want an auto sell do i just click 6x6 sell MLx then let it run? or do I have to alter any setting like go into it's properties and switch on "allow live trading"? As I...
You may need a 5 Digit version for the EA to work. I am sure someone here has one they can post. I just dont have time right now to do it. My wife and I are gone this weekend and I wont be back until Tuesday. Gotta celebrate and it is a holiday week here in China.
  • #1,475
  • Apr 29, 2010 6:09pm Apr 29, 2010 6:09pm
quiet day. just a lot of backing up, waiting for the market to reverse which is common on Friday or next Monday, hopefully. OK NZD currency pairs be nice little boys and break that trend line today OK????
TAKE PROFITS
MPTM 10 at +10 = +100
eur/usd +50 once I broke into profit I turned off the EA. I have some of my EA set at TP +50 so it was done for the day.
CLOSED FOR LOSS

OPEN TRADES
aud/chf -142 -17 Grab that R line trade now if you see it. enter manually.
aud/nzd, -106 I am using a cross 3 for 2nd L
aud/jpy -80 L2 0 Grab that R line trade now if you see it. enter manually.
eur/aud ea not entered yet.
eur/nzd -585 2L -342 3L -65 4L 0 Grab that R line trade now if you see it. enter manually. If price goes below that S line I close L1 and take a loss.
gbp/usd +27 dang that one ran nice but I was out of that move.

gbp/chf, -211 2L -7
gbp/nzd -89 -43 one thing about taking MPTM is it brings your levels closer together. This took several yesterday. You need to close one if the levels get too close like this, so I want to wait a big for a better close of 1 level if I can get it.

nzd/chf, -249 2nd L -164 3L 0 Grab that R line trade now if you see it. enter manually.
usd/chf -201 2ndL -46
usd/jpy +18 Yes I took that R line trade manually. go baby go. Plus I will also take the cross trade when it happens.

TOTALS
total for day + 200
for the week +1883
for the month +5749
Carry over -2302
Primary trades
BUYS

SELLS

Secondary trades
BUYS eur/cad, eur/gbp

SELLS nzd/usd, nzd/jpy

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]
  • #1,476
  • Apr 29, 2010 6:49pm Apr 29, 2010 6:49pm
Quoting nanningbob
... In fact some morinngs I spend 45 minutes trying to prepare my report. I dont know how much longer I can keep doing this. It is time consuming but also very essential that new traders see the real life of trading. The real ups and downs. You need to see the DD and the losing trades and not just talk about the winners. A lot of so called trainers of Forex in real life are really not good live traders. ..Not everything goes as planned.
Hi Bob

We do appreciate all your hard work. I was thinking the other day that your reports must be taking a long time to compile. You are spoiling us and maybe making us too lazy. However, knowing your trade positions helps us a lot in understanding and learning the full potential of your system.

One solution is to get a detailed statement report on MT4, copy it and paste it on a excel spread sheet (omitting the balance and any other confidential information). This would not take more than 5 minutes whilst providing all the information.

Kind regards
  • #1,477
  • Apr 29, 2010 7:14pm Apr 29, 2010 7:14pm
Quoting astral77
Hi Bob

We do appreciate all your hard work. I was thinking the other day that your reports must be taking a long time to compile. You are spoiling us and maybe making us too lazy. However, knowing your trade positions helps us a lot in understanding and learning the full potential of your system.

One solution is to get a detailed statement report on MT4, copy it and paste it on a excel spread sheet (omitting the balance and any other confidential information). This would not take more than 5 minutes whilst providing all the information.

Kind...
The problem is the teaching part and the second is my other trades I take are confusing. I think the problem maybe solved by me setting up a demo account where I only do my system on the demo. I can then report much more quickly. Anyways I will think about it and see what happens.
  • #1,478
  • Apr 29, 2010 9:00pm Apr 29, 2010 9:00pm
Damn Aussie-Swiss is about to trigger my L3 trade.. come on, come down already!
Attached Image (click to enlarge)
Click to Enlarge Name: audchf.gif Size: 31 KB
  • #1,479
  • Apr 29, 2010 11:10pm Apr 29, 2010 11:10pm
Quoting silv3r4sh
Damn Aussie-Swiss is about to trigger my L3 trade.. come on, come down already!
Those commodity currencies can drive you nuts. Cad is the worst but Aud and NZD can both do it too. That is why I invented the 2.4.2 recovery system. I had to find a way out of these type of trades.
  • #1,480
  • Apr 30, 2010 2:37am Apr 30, 2010 2:37am
Quoting nanningbob
First your spacing is good. Your at support that it good. Every NZD currency is at a decision point. I have about the same thing except I am only two levels deep. I didnt get that firstlevel. If price went below that support you would close level 1 and take it as a loss. then find a new 3rd level. L 3 now becomes tricky. If it is making a nice profit I take that profit because price will oftne go back to the support level several times sometimes and I want that...
Well thanks for this great "bouncing L3 MTPM" lesson Bob! I'm sure it'll help many people recovering through 2.4.2 system.

For the GBP/NZD, L1 was 6x6 EA, L2 and L3 were manual. If I want to play with the boucing L3 MPTM, how can I make sure it won't close all my trades, but only my L3 level, when it it's the MPTM S/L?
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