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Nanningbob 4H trading system

  • #1,741
  • Jun 1, 2010 5:09pm Jun 1, 2010 5:09pm
Quoting astral77
Hi BOB

I just finished breaking even on one of my accounts which has 6 pairs open with drawdown of almost 3000 pips. It took just over two weeks and your idea of hedge worked like a dream. I was down $600 when I hedged the losing trades, when these trades were in profit by just over $600 I cashed them (now the running trades are -$1200. I waited for my -ve trades to retrace and then closed them today when the account just broke even. I suppose I could have hanged on for profit but I chickened out.

Now, I know...
Thanks for the compliment.
  • #1,742
  • Jun 1, 2010 8:18pm Jun 1, 2010 8:18pm
Bob et al,

Can someone point me to the setting in MPTM that won't close out all the trades if one closes out?

For example, I want to enter manually (which I did) on EURGBP. I also have 6x6 running as I expect a retrace or a couple and I will be asleep for a couple hours with it on tonight.

IF, the 6x6 enters and hits TP/SL by MPTM, then it will close out my manual trade right? I may be confusing this w/ the EA version, but I am pretty sure that is why I shut off MPTM.

Is there a setting to take off as I have combed through it and I don't find anything?

HELP...
We are our own best indicator.
  • #1,743
  • Jun 2, 2010 1:22am Jun 2, 2010 1:22am
Quoting bluemele
Bob et al,

Can someone point me to the setting in MPTM that won't close out all the trades if one closes out?

For example, I want to enter manually (which I did) on EURGBP....
Change manage all trades from true to false and then change to what you want it to do like manage magic number ...... or manage this pair only .......... etc. You should find these in the choice boxes if you dont know how to change the code.
  • #1,744
  • Jun 2, 2010 4:06am Jun 2, 2010 4:06am
Quoting nanningbob
Change manage all trades from true to false and then change to what you want it to do like manage magic number ...... or manage this pair only .......... etc. You should find these in the choice boxes if you dont know how to change the code.
Hey Bob,

I guess if I change 'manage this pair only' or the other settings, no matter what it will still manage all the trades from one pair as a 'basket' correct?

Thanks or the response, but I have a feeling that one you go manual on a currency, you stay manual and don't also turn on the 1/6 or 6/6 EA?

We are our own best indicator.
  • #1,745
  • Jun 2, 2010 6:48am Jun 2, 2010 6:48am
Quoting nanningbob
Thanks for the compliment.
It is just stating the facts. I am just beginning to understand what you had written in the manual regarding your blood pressure being under control by having a back up plan and knowing that what has gone down would go back up. Furthermore, having adapted the mentality to the 4h TF it is almost impossible to adjust to other TFs. Moreover, Plenty of time and practice is needed to adjust to this mentality. Just imagine you have been conditioned for long time to limit your SL to 20, 30 or maximum 50 pips and then you start a system whereby you have 2 levels with -ve 200 and 400 pips and then you open further position expecting that to go down further 100 or so pips?

Like most members of FF I have been going through other threads, Steve Hopwood is on turbo drive creating EAs for variety of systems. THV thread, James16 and JACKO`s systems are quite good as well. But this system is perfect for us amateur traders (people who do not have the resources, knowledge or the experience to do this full time and at the same time working for a living) who can not sit front of a PC for hours. To all of those people who vote against the system or are not sure of the merits of NB 4H, I say stick on a demo for 6 months or better still open a penny account and trade 1 cent a pip for 6 months only and see where you are at the end of the 6 months.

Going forward I look forward to your new idea of 1x6 entry instead of 6x6. On the EA front I do think that the EA should be refined more, for instance we could have a NEWS indicator added so it does not trade just before, during or after a news event. Another area where the EA needs development is the entry point.

Kind Regards
  • #1,746
  • Jun 2, 2010 1:07pm Jun 2, 2010 1:07pm
Quoting bluemele
Hey Bob,

I guess if I change 'manage this pair only' or the other settings, no matter what it will still manage all the trades from one pair as a 'basket' correct?

Thanks or the response, but I have a feeling that one you go manual on a currency, you stay manual and don't also turn on the 1/6 or 6/6 EA?

You can set it to manage a magic number. So if an EA has a magic number of 5 then you set the MPTM to manage magic number 5, it is only suppose to manage those trades with the magic number of 5. This allows other EAs with different magic numbers and manual trades not to be touched. The code is set up that way but I have never tried using those features.

I have manual traded along with EA trade but my manual trades usually get into more trouble than my EA trades. I also use different types of EA. Sometimes I feel price will reverse and when it does it will go strong so I will use a 1x3. Volatile currencies I am testing a 1x10 and so far it seems to do better than a 6x6. The 1x6 is having the same problems I had with the 3x3 and that peeker trades creep in. A peeker trade enters and then price reverses on you. It just qualifies and then continues its trend. The 6x6 has fewer of those but the 1x10 looks good in testing on volatile currencies.
  • #1,747
  • Jun 2, 2010 1:11pm Jun 2, 2010 1:11pm
Quoting astral77
[color=black][font=Verdana]It is just stating the facts. I am just beginning to understand what you had written in the manual regarding your blood pressure being under control by having a back up plan and knowing that what has gone down would go back up. Furthermore, having adapted the mentality to the 4h TF it is almost impossible to adjust to other TFs. Moreover, Plenty of time and practice is needed to adjust to this mentality. Just imagine you have been conditioned for long time to limit your SL to 20, 30 or maximum 50 pips and then you start...
Every new type of entry point has a difficulty somewhere. Wish there was a perfect entrance but I find it makes no difference. Just try to find the one that does best and countertrade the rest. Having a limited entrance area has prevented some DD so working on that now.

No such thing as a news indicator. Best is not to trade, you cant program intelligence like, dont trade when there is news or dont trade if the next news story is going to be big. The best way to trade news is to trade only one direction. If the news goes south do only a sell. If the news goes north dont enter. Why I use a MA cross, I take a guess and if price goes against me I am not in. If it does I am in. Only way I know how to handle the news.
  • #1,748
  • Edited 1:36pm Jun 2, 2010 1:20pm | Edited 1:36pm
I have some work to do this morning so posting results now. I will post my trades later for the day. I may rethink my 50 TP losing out on some pips with that. I may post a version 4B. The EA enters once or twice and quits. May widen the TP to 100 on volatile pairs.
RESULTS
gbp/chf PR, +10 and +50
gbp/nzd PR +50
eur/gbp PR, +10
Sells

Buys

STILL IN
aud/cad 2nd, -47
TOTALS
total for day 120
for the week 130
for the month 130
Carry over -47

PR=primary, 2nd=secondary
  • #1,749
  • Jun 2, 2010 1:57pm Jun 2, 2010 1:57pm
Quoting nanningbob
You can set it to manage a magic number. So if an EA has a magic number of 5 then you set the MPTM to manage magic number 5, it is only suppose to manage those trades with the magic number of 5. This allows other EAs with different magic numbers and manual trades not to be touched. The code is set up that way but I have never tried using those features.

I have manual traded along with EA trade but my manual trades usually get into more trouble than my EA trades. I also use different types of EA. Sometimes I feel price will reverse and when it...
Cool, I didn't think about Magic Number. You are right. If I do manual, then this will leave those alone.

Funny you mention about the 'getting into trouble'. I have been doing manual w/ this system and it definitely cost me a little. Fun to learn the system though.
We are our own best indicator.
  • #1,750
  • Jun 2, 2010 4:07pm Jun 2, 2010 4:07pm
Quoting nanningbob
Every new type of entry point has a difficulty somewhere. Wish there was a perfect entrance but I find it makes no difference. Just try to find the one that does best and countertrade the rest. Having a limited entrance area has prevented some DD so working on that now...
No such thing as a news indicator...
Hi BOB

Thanks for your reply. I have news for you, there is a news indicator developed in Steve Hopwood`s thread (Scooby Doo BOJ JPY pairs trading robot) the name of the indicator is ffcal.mq4 and its refinement ffcal scoobs.mq4. Basically it works by looking at FF news and filtering according to user setting of currency pairs and High, Medium and low impact news items. Steve uses this in q number of his robots. Although it is not perfect by all means it does prevent EAs from entering within a user defined parameter of x hours before and after the news.

I have no programing knowledge but knowing how much Steve respects you I am sure he can shed more light on its use if you sent him a pm.

Kind regards
Attached File(s)
File Type: mq4 FFCal.mq4   47 KB | 226 downloads
File Type: mq4 FFCal Scoobs.mq4   47 KB | 267 downloads
  • #1,751
  • Jun 2, 2010 5:05pm Jun 2, 2010 5:05pm
Quoting astral77
Hi BOB

Thanks for your reply. I have news for you, there is a news indicator developed in Steve Hopwood`s thread (Scooby Doo BOJ JPY pairs trading robot) the name of the indicator is ffcal.mq4 and its refinement ffcal scoobs.mq4. Basically it works by looking at FF news and filtering according to user setting of currency pairs and High, Medium and low impact news items. Steve uses this in q number of his robots. Although it is not perfect by all means it does prevent EAs from entering within a user defined parameter of x hours before and after...
Same thing as turning the EA on and off. You just enter the time. Regular news stories do not affect my system. It is the super news stories that happen and you dont know about them until after the fact. The last news story was all over the news but the key part was not known until several days after. IE France threatened to move out of the Euro if the rescue package was not accepted. This was not reported until several days later. This caused the market to shift significantly along with people's opinion about the package. No EA is going to help you at that time, you are already in or out of that story. When I mean a super news story I mean something like the Euro collapsing or countries pulling out. That is not part of the normal news cycle. Normal news cycle stories do not affect my 4H system. They are just part of it.
  • #1,752
  • Jun 2, 2010 5:20pm Jun 2, 2010 5:20pm
I may rethink my 50 TP losing out on some pips with that. I may post a version 4B. The EA enters once or twice and quits. May widen the TP to 100 on volatile pairs. See note below on jpy pairs.
RESULTS
gbp/chf PR, +10 and +50
gbp/nzd PR +50
eur/gbp PR, +10
Sells
cad/chf PR
gbp/chf 2nd (look for the secondary trade if it goes up again. Love this pair right now)

Buys
eur/cad PR
eur/gbp PR
STILL IN
aud/cad 2nd, -47
TOTALS
total for day 120
for the week 130
for the month 130
Carry over -47

PR=primary, 2nd=secondary
  • #1,753
  • Jun 2, 2010 5:28pm Jun 2, 2010 5:28pm
I am also taking gbp/jpy, usd/jpy, eur/jpy as sells. Even though they are more in the middle of the screen the jpy is weak right now and this would be a sell the rally in a DT. The RWB line up over 85 and the news is not good for the jpy so I will do sells on all three. I seldom make exceptions for my rules but the big drop in early May is skewing my charts some. If not for the high price 4 weeks ago price would be around the top line. This is trading fundamentals and I will sometimes do this but not often. So I am going to use my EA to trade JPY weakness. All 3 pics look about the same.
Attached Image (click to enlarge)
Click to Enlarge Name: usd jpy pic.gif Size: 32 KB
  • #1,754
  • Jun 2, 2010 9:55pm Jun 2, 2010 9:55pm
Quoting nanningbob
I am also taking gbp/jpy, usd/jpy, eur/jpy as sells.. The RWB line up over 85 and the news is not good for the jpy so I will do sells on all three.
hi nanning,seem yr quite right on those lines,
just want to clarify yr statement, when you say news is not good for jpy, in a sense it also refers that it is weakening ? and yr so a "short" based on the lines, kinda conflicting.. pardon my "blurriness"....
  • #1,755
  • Jun 2, 2010 11:51pm Jun 2, 2010 11:51pm
Quoting Forces
hi nanning,seem yr quite right on those lines,
just want to clarify yr statement, when you say news is not good for jpy, in a sense it also refers that it is weakening ? and yr so a "short" based on the lines, kinda conflicting.. pardon my "blurriness"....
That was my fault. Jpy weakness should be sell jpy buy eur/jpy, gbp/jpy, buy usd/jpy. My fault said it wrong. I took the trades off.
  • #1,756
  • Jun 3, 2010 4:00am Jun 3, 2010 4:00am
Quoting nanningbob
Same thing as turning the EA on and off... Normal news cycle stories do not affect my 4H system. They are just part of it.
Thank you for the clarification. You are quite correct to say regular news does not affect the system. I just thought avoiding trading at peak news times would ensure a better entry price. I suppose it can go either way.

I found this post very useful there is a modified RSI divergance indicator which seems to be very accurate. http://www.forexfactory.com/showpost...stcount=175863

Kind Regards
  • #1,757
  • Jun 3, 2010 4:39am Jun 3, 2010 4:39am
Quoting astral77
Thank you for the clarification. You are quite correct to say regular news does not affect the system. I just thought avoiding trading at peak news times would ensure a better entry price. I suppose it can go either way.

I found this post very useful there is a modified RSI divergance indicator which seems to be very accurate. http://www.forexfactory.com/showpost...stcount=175863

Kind Regards
IAMTHAT likes RSI divergance. I like MACD or STO BLU but I usually trade before price gets to that point. Divergance doesnt happen that much on a 4H chart but when it does it is a good sign. I will take a look at it.
  • #1,758
  • Jun 3, 2010 4:41am Jun 3, 2010 4:41am
The scorecard is 79 for 70 against. You know what is funny about that stupid thing. When I was winning every month there were more negative votes and when I had a losing month there were more positive votes. Go figure that one out. LOL
  • #1,759
  • Jun 3, 2010 4:48pm Jun 3, 2010 4:48pm
I was not able to connect to FF from home this morning so I will have to report my results later. My trades for today are
sell usd/jpy
buy eur/cad
I am in cad/chf

all other trades were closed for profit which I think there were three, I will tell more later. Time for me to teach.

Not much out there NFP tonight. Dont expect much to happen today.
  • #1,760
  • Jun 3, 2010 7:20pm Jun 3, 2010 7:20pm

Not much happening and not much out there I liked. Some maybes. If they dont go anywhere by the USA open I will close and sit out the NFP news story. Right now the market looks like it will not do much and over react at news time. Dont want to be part of that. Hopefully it will set up some trades for Monday. Very slow week so far.
RESULTS
gbp/chf PR, +10
aud/cad 2nd, +10
eur/gbp PR +32
Sells
usd/jpy PR

Buys
eur/cad PR not entered

STILL IN
cad/chf PR -32
TOTALS
total for day +52
for the week +182
for the month +182
Carry over -32

PR=primary, 2nd=secondary
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