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Nanningbob 60x90 EA

  • #3,541
  • May 9, 2010 11:47am May 9, 2010 11:47am
[quote=ray420;3709234]wow.. I like the straight line of profits on the backtest have you used it on a live account?[/quote]

Hi Ray
I trust Bob won’t mind this side discussion on this SWB ea.

I have just had it on a demo account for the past few days to see how it behaves and it is a steady winner.

I see it is set to go up to 10 levels with a multiplier of 1.5 and a starting lot size of 0.1 lots. This could be a problem: if there was a straight run of 225 pips the resulting draw down will be over 5K. On the other hand it is not often that there is a straight run up or down without a 10 pip retracement at a few places in the move.

I am thinking of running it starting at 0.02 lot size and a tp of 5 euro which will give a maximum exposure of 1072 euro in the case of a 225 pip straight drop. With careful monitoring during the day and avoidance trading major news events, then it could be useful. Would I leave it to run overnight - could be dangerous.

Lets say it could be another piece of useful kit in the arsenal for the short timer.

On the other hand Bob’s 60x90 and 4 hour strategies are the best I have found.

Best Regards
  • #3,542
  • May 9, 2010 12:07pm May 9, 2010 12:07pm
So yes it was a big week in more ways than one, but the thing is, above all we learnt some stuff.

I've been demo-ing the Sixth screen EA v3.2z since it was first posted (thanks Z). Its great, I think Bob has really developed an impressive system using the sixths Idea. However it's not perfect, Bob would be the first to declare that I'm sure

So we have is an EA that will give us good trade entries about 80% of the time. That's great but how can we make it better. The Idea of a MA filter was mentioned earlier in the week which seemed good. I'm sure there are other options as well. Better entry position means an improved first level trade win ratio and therefore a more profitable EA

If I were a coder which sadly I'm not this is one of the things I would add to this EA

The other major area of concern with this EA is money management as we have experienced this week

Bob is a broken record on this.... his words below from post #3528
I used small lots
I go only 2 or 3 levels deep.

I couldn't agree more. The trouble is if the EA is set up to only go L2 or L3 and price continues to move against you then each pair under threat needs to be micro managed which for many of us is unrealistic as we can't sit 24/5 in front of the screen. The 242 recovery is fine but cumbersome if you have multiple pairs going south at at the same time

What I'd Like to see is the 242 recovery incorporated into the EA. Like I said I can't code so I don't know what is possible and what's not. In my little world I imagine the EA to have the recovery as a selectable option with the position of its initiation as a multiple of the pips number (maybe) or a any number for that matter, (Bob seems to favour 200) but the whole idea of this EA is that it adjusts for whichever pair it is working with.

I have included the 2 graphs below to show the difference in just 1 level when using this EA. The first one is 2L with a stop set at 200. The EA determined pips distance varied between 60-100. The 2nd graph has exactly the same parameters, the only difference is that it's set at L3 with a stop at 300. The reason was to show that for this pair the win ratio is greatly increased by giving it more room to move (but then we all know that) what I find interesting is how seldom the Recovery would be needed. Having a built in recovery system helps to remove the emotion out of the decision making process, which tends to be knee jerk when a trade is going bad.

I read once "Ask, so that you may receive, so that your Joy may be full"

So In the light of that, if there is anyone out there with the skills, could you have a crack at making these additions to this EA.

Thanks

By the way Bob IBFX is set to open operations in both the UK and Australia shortly

James
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  • #3,543
  • May 9, 2010 1:43pm May 9, 2010 1:43pm
[quote=pipernet;3709953]
Quoting ray420
wow.. I like the straight line of profits on the backtest have you used it on a live account?[/quote]

Hi Ray...
I did a search on this forum and couldn't find anything about this EA. I'd run this with max. trades of 8 and lots at .01 for a 2-$3000 account. Looks like it survives five years of back testing with these settings. Beware of back testing of course. Sorry Bob, won't talk about this on your thread after this post. Pipernet , if you can give me any more info on this EA could you PM me? thanks
  • #3,544
  • May 9, 2010 2:33pm May 9, 2010 2:33pm
[quote=pipernet;3709953]
Quoting ray420
wow.. I like the straight line of profits on the backtest have you used it on a live account?[/quote]

Hi Ray
I trust Bob won’t mind this side discussion on this SWB ea.
is this swb ea feasible for 5 digit-brokers? do i have to change the settings? if so, which? thanks
meine augen sind die sterne
  • #3,545
  • May 9, 2010 3:24pm May 9, 2010 3:24pm
[quote=Toothman;3710051]
Quoting pipernet
I did a search on this forum and couldn't find anything about this EA. I'd run this with max. trades of 8 and lots at .01 for a 2-$3000 account. Looks like it survives five years of back testing with these settings. Beware of back testing of course. Sorry Bob, won't talk about this on your thread after this post. Pipernet , if you can give me any more info on this EA could you PM me? thanks
Hi All,

I am hoping someone will move this to a new thread! I think it has merit!
We are our own best indicator.
  • #3,546
  • Edited 6:49pm May 9, 2010 6:29pm | Edited 6:49pm
Hi All,

Apologies to Bob for cluttering up his thread with this ea, but thought it would be useful to us all as we are followers of the retracement method as opposed to the trend followers.

Anyway new thread set up for this SWB ea and lets see if it can be improved on there in any way, although it seems pretty good already.

Just want to add thanks again to Bob for the great thread.

Best regards,
  • #3,547
  • May 10, 2010 1:24am May 10, 2010 1:24am
Quoting astral77
The only reason I can think of is that you have over leveraged your account and there was not enough margin to cover your positions. Unfortunately, some new-ish traders forget about the margin rules.

The good news for BOB and other American friends is that a major american company forex.com opens accounts in theUK for US citizens who are suffering under no hedge NFA rules. Here is a partof my chat with them just few minutes ago:

you: My questions is because they are resident outside USA can they open an account with forex.com UK to be eligible...
I downloaded a MT4 from FXSol UK and they are consistently 8-10 pips lower with their quotes than IBFX MT4 on certain pairs. IBFX may just have different quotes coming from different banks or .............. Interesting, will have to study this further.
  • #3,548
  • May 11, 2010 10:29am May 11, 2010 10:29am
OK now here is my recommendations for trading pairs for now. If you look in the top left corner of the sixths EA, it will give you the distance from top to bottom. You can check to see which pairs are going wild and which ones are still tradeable. From this info I would choose the following to trade this week.
I choose these because you could stay within range reentering every 200 pips.

Under 800
usd/jpy, eur/aud, aud/usd,
under 600
nzd/usd, nzd/chf, eur/gbp, aud/chf, aud/cad

just over 800
aud/nzd, eur/cad, nzd/jpy, usd/chf

The under 800 would give you
aud, 4
cad 1
chf 2
euro 2
jpy, 1
gbp 1
nzd 2
usd 3
That would give you 8 pairs. I think that is too heavy with AUD so I would dump the aud/eur (dont trust the euro right now and would add the usd/chf or eur/cad. Until the market settles that would give you 8 safe pairs to trade in these crazy markets. Anyways that should do it.
  • #3,549
  • Edited 10:58am May 11, 2010 10:45am | Edited 10:58am
I've cranked up the EA's again, but on limited pairs and with conservative settings. This is also the first time I'll have traded the Stop Ratio EA live. I have it set currently at 0.4.
  • #3,550
  • May 11, 2010 11:17am May 11, 2010 11:17am
I am currently using different settings for each currency pair, some use bands, some mas, some the sixths method, but I am now using a daily moving average filter on all pairs to trade with the trend. This may keep me out of some profitable trades, but it also allows me to trade more pairs and weather moves like last week. Good luck everyone!

Bioquim
  • #3,551
  • May 11, 2010 12:41pm May 11, 2010 12:41pm
Hey Bob

Just looking back at last week. It seems that a candle size filter in place in the code might have stopped some of the heart ache. The logic would be "if previous candle is larger than X then don't enter next level". It would mean that you don't get dragged into the heavy spikes like we saw. Once the market settles, the next candle is assessed and if its ok the EA can enter the next level. There's a good chance that you would be placed nicely for the usual retracement. Just a thought.


James
  • #3,552
  • May 11, 2010 12:49pm May 11, 2010 12:49pm
Quoting Bioquim
I am currently using different settings for each currency pair, some use bands, some mas, some the sixths method, but I am now using a daily moving average filter on all pairs to trade with the trend. This may keep me out of some profitable trades, but it also allows me to trade more pairs and weather moves like last week. Good luck everyone!

Bioquim
Hi there Bio

How are you applying that Daily MA filter? I'm only using Bobs MA ea's live still testing the sixths.

James
  • #3,553
  • May 11, 2010 1:50pm May 11, 2010 1:50pm
Quoting El Salon
Hi there Bio

How are you applying that Daily MA filter? I'm only using Bobs MA ea's live still testing the sixths.

James
I have the filter option coded into the EA. I am not a programmer, just doing well at copying and pasting from the various EAs in this thread. Here is the code I use that gives me three different MA options:

bool buycondition = true;
bool sellcondition = true;

double Var3 = iMA(NULL, TrendTF, TrendMA1, 0, MODE_LWMA, PRICE_HIGH, 0);
double Var4 = iMA(NULL, TrendTF, TrendMA1, 0, MODE_LWMA, PRICE_HIGH, 1);
double Var5 = iMA(NULL, TrendTF, TrendMA1, 0, MODE_LWMA, PRICE_LOW, 0);
double Var6 = iMA(NULL, TrendTF, TrendMA1, 0, MODE_LWMA, PRICE_LOW, 1);
double Var7 = iMA(NULL, TrendTF, TrendMA1, 0, MODE_LWMA, PRICE_MEDIAN, 0);
double Var8 = iMA(NULL, TrendTF, TrendMA2, 0, MODE_LWMA, PRICE_MEDIAN, 0);


if (UseMAFilter == 1)
{
if (Var5>Var6) buycondition = true; else buycondition = false;
if (Var3<Var4) sellcondition = true; else sellcondition = false;
}

if (UseMAFilter == 2)
{
if (Var7>Var8) buycondition = true; else buycondition = false;
if (Var7<Var8) sellcondition = true; else sellcondition = false;
}

if (UseMAFilter == 3)
{
if (Close[0] > Var6) buycondition = true; else buycondition = false;
if (Close[0] < Var4) sellcondition = true; else sellcondition = false;
}
  • #3,554
  • May 11, 2010 5:07pm May 11, 2010 5:07pm
Hmm I'm kind of nervous with all the prices heading toward the middle on the 4H chart. Calm before another storm?
  • #3,555
  • May 11, 2010 6:54pm May 11, 2010 6:54pm
Quoting El Salon
Hey Bob

Just looking back at last week. It seems that a candle size filter in place in the code might have stopped some of the heart ache. The logic would be "if previous candle is larger than X then don't enter next level". It would mean that you don't get dragged into the heavy spikes like we saw. Once the market settles, the next candle is assessed and if its ok the EA can enter the next level. There's a good chance that you would be placed nicely for the usual retracement. Just a thought.


James
I am not real excited about that one. Again I just trade and if there is trouble I can hedge, by the time a big candle appears you are already in trouble so think that kind of help is too late. The truth is we all knew this story was sitting out there and I got lulled to sleep with the weekend news that a deal was in place. During the beginning of the week the Greek deal began to unravel and by the time I realized this was not a done deal I was already deep in the hole. The large candle protection is then too late to help you because now the large candle puts you outside the range of the system and no entering anymore trades is not the solution you need. Once I realized this was happening I had two choices to prevent account wipe out. Close all trades and take the loss or hedge. By the time the big candles rolled out it was already too late. I actually began closing before some of them appeared.

For most of you this is your first experience with a super news story. This story had been brewing and there was some discussion on what would happen before hand. Bail out or hedge, that is your choice. I never want to trade again without the ability to hedge. I got a guy who didnt bail out and he hedged when he was almost 5000 dollars in the hole on a 7000 dollar account. I dont know how he is going to get out of this mess without adding more funds or hope the market does exactly one kind of move. Go to his sell for BE and then go to his Buy for BE. If it does anything else, his clock is cleaned.
  • #3,556
  • May 11, 2010 7:00pm May 11, 2010 7:00pm
Quoting jay320
Hmm I'm kind of nervous with all the prices heading toward the middle on the 4H chart. Calm before another storm?
I would definitely not be trading the inside lines. Again the market is being driven by news stories not day by day business. Day by day business transactions cause the market to move up and down in a somewhat consistant manner. News driven market likes to go in one direction and then everyone jump on board. If you catch price going the right way you make a mint. If you dont, you lose a mint. I AM NOT A NEWS TRADER, I tried it once for about a month and my blood pressure shot up 15%. I am not cut out for that kind of trading. So I wouldnt take any of my advice on how to trade the news. Give me the normal day by day business market and I make money. This right now is not my kind of market, I cannot predict anything it is going to do.
  • #3,557
  • May 11, 2010 7:20pm May 11, 2010 7:20pm
Quoting nanningbob
I am not real excited about that one. Again I just trade and if there is trouble I can hedge, by the time a big candle appears you are already in trouble so think that kind of help is too late.
Bob,

I think the large candle concept has some merit, not that it means much, but if you are sleeping or not around during this big market break, then I believe it would protect you from continuing to go in without the ability to hedge or close out.

I have noticed that is the weakness of this EA in that being blind is good sometimes, as a semi-martingale approach will save you, but it will surely kill you if you aren't by the computer during an unexpected BAD news or GREAT news experience. Which, considering a terrorist or other type of attack could drastically change your balance sheet.

I don't know how you would code such in the EA, or if there are better methods to stop entries while you are away with big moves, but it could save an account while you are asleep.

In my opinion that is why EA's will never fly alone.
We are our own best indicator.
  • #3,558
  • May 12, 2010 12:56am May 12, 2010 12:56am
Quoting bluemele
Bob,

I think the large candle concept has some merit, not that it means much, but if you are sleeping or not around during this big market break, then I believe it would protect you from continuing to go in without the ability to hedge or close out.

I have noticed that is the weakness of this EA in that being blind is good sometimes, as a semi-martingale approach will save you, but it will surely kill you if you aren't by the computer during an unexpected BAD news or GREAT news experience....
That is sound thinking I wont argue with that.
  • #3,559
  • May 12, 2010 12:58am May 12, 2010 12:58am
So far I have not been able to get Z's EA to work on FXSol UK. Is there any modification that needs to be done. It is not drawing the lines there for it is not trading.
  • #3,560
  • May 12, 2010 2:57am May 12, 2010 2:57am
I have been busy for the last week or so investigating ways to make the EA and this system more fool proof and profitable. I like the idea of entering counter to the trend, however finding when there actually is a trend reversal coming is quite diffictult. I starting looking into creating an amalgam of the information in the Craig Harris thread and what Nanningbob is doing here.

First using fractals to determine when to start entering. In other words: IF (Price) is above Line (A or B) AND a Down Fractal Appears = Sell ; reverse for buy. I am going to trade this way manually for a while to see if it cuts down on the false entries and eliminates at least "some" of the need to use martingale tiering.

Now, using this methodology you will miss some pips, however I'd rather MISS pips then LOOSE MONEY. I haven't fleshed out many of the details yet, its still just a concept. In the very least the Sixth Screen Indicator has proven quite usefull in identifing "Areas of Consolidation" if you happen to be trading the Craig Harris system.


EDIT: A good example would be what you can see now on the GBPUSD
Attached Image (click to enlarge)
Click to Enlarge Name: screen.jpg Size: 130 KB


Take a look at how combining the Nanningbob system with the Craig Harris methodology it appears to "make sense".
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