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Nanningbob 4H trading system

  • #1,901
  • Jun 21, 2010 6:10pm Jun 21, 2010 6:10pm
I turned off the MPTM yesterday so I could catch some good retracements when they happen plus had a lot of multiple levels. I also turned off my EAs at one point to keep anymore entrances from happening. I had enough going on my plate so some pairs I never entered. USD/CHF and USD/CAD are examples. Have not had a big gap day in a long time go against me so had to scramble some yesterday. I put some hedges on to protect my account in case of a worse case scenario and was pleased with the results. I used it on the aud/jpy, eur/jpy, and chf/jpy. Since these were double and triple lots they profited very nicely when I took them off later and the dumb GOVT agency says they see no value in hedging. Not part of my system but am glad the option was there. See note above about the RMB story.

RESULTS
aud/jpy +100 I took this but maybe a bad decision
aud/usd -193 +50 Some how I had the same magic number for two different EAs so when one profited it closed both, dang.
eur/jpy +50 -75 I usde my 3rd L profit to close my 2nd L loss I also used a buy hedge on this one yesterday and did very will but that is not part of this system.
eur/usd -78 +58
gbp/usd +56
gbp/chf +50
usd/jpy +50
Sells
aud/chf
aud/usd
cad/jpy (did not enter)
Buys
eur/aud (did not enter)
eur/nzd (I am not taking this one but it qualifies, dont need anymore high flyer trades right now)
gbp/chf

STILL IN OR REENTERD
aud/cad -267 2L -127
 aud/jpy -206
chf/jpy -258 2L -144 3L -26
eur/jpy -172
gbp/nzd -283 have 2nd L ea waiting to enter
nzd/cad -229 2nd L -48
nzd/jpy -151 2nd L 0
nzd/usd -308 2L -126 3L + 26

TOTALS
total for day + 68
for the week + 68
for the month +1442
Carry over -2319
  • #1,902
  • Jun 21, 2010 10:06pm Jun 21, 2010 10:06pm
Quoting bluemele
IAMTHAT,

Did you combine Blessings with Bob's EA? Interesting as I am doing that kind of myself! Pretty cool concept.

I agree smaller timeframes are great for the EA, but sometimes it gets 'caught' and whammo... What are you doing to alleviate the smaller time frame big runs. The only thing I could think of was trade in off "opens" times...
Yes, I am experimenting Sixth entries in Blessings with lower TFs like M15 and it is working fine so far but there are so many variables to test, it is just impossible to keep track. Blessings has some nice feature.
My preference for lower TF (120 bars range) is simply because range keeps moving with the bars so entry is somewhat current and it is possible to get entry in both directions if use 2EAs!
"Put all your efforts in becoming effortless"
  • #1,903
  • Jun 22, 2010 6:32pm Jun 22, 2010 6:32pm
Quoting astral77
That can not be taught pure and simple, comes with experience. If you have time please have a look at this article http://cdn.forexfactory.com/attachme...9&d=1221085865 . It can explain the concept much better than I can.

If you ever wanted a rationale for being counter trend trader this is it. For people...
Thanks for the article. I guess I dont really understand volume that much but I am willing to read and study. So keep up the good information. Maybe some day I will understand.
  • #1,904
  • Jun 22, 2010 6:43pm Jun 22, 2010 6:43pm
OK nice day I hope price turn around is happening finally. Will keep plugging away.

RESULTS
aud/chf +54
aud/jpy +40
aud/usd +27
nzd/chf +61
nzd/jpy +43
nzd/usd +52
Sells
nzd/cad
Buys
cad/chf

STILL IN OR REENTERD
aud/cad -259 2L -118 -5
 aud/jpy -113 (2nd)
chf/jpy -258 2L -144 3L -26
eur/aud +2
eur/jpy -172
gbp/chf -4
gbp/nzd -241 2nd L -9
nzd/cad -239 2nd L -55
nzd/jpy -99
nzd/usd -282 2L -100

TOTALS
total for day + 277
for the week + 345
for the month +1719
Carry over -2122
  • #1,905
  • Jun 22, 2010 7:15pm Jun 22, 2010 7:15pm
Quoting IamTHAT
Yes, I am experimenting Sixth entries in Blessings with lower TFs like M15 and it is working fine so far but there are so many variables to test, it is just impossible to keep track. Blessings has some nice feature.
My preference for lower TF (120 bars range) is simply because range keeps moving with the bars so entry is somewhat current and it is possible to get entry in both directions if use 2EAs!
Yes, the concept of using Bob's Sixth's as a major indicator is working well. Blessings is awesome but so complicated like you said. I will test the lower timeframe's to see what works.

I was trading Bob's EA off 5M chart on ECN, and boy, was it good. However, for some reason the 15M kept blowing up.... Strange eh..
We are our own best indicator.
  • #1,906
  • Jun 22, 2010 8:34pm Jun 22, 2010 8:34pm
Quoting nanningbob
no it is still 25 pips, adding decimal places does not increase the size of a pip. It would be 25.0 pips. They are the same just another digit.
Hi Bob, sorry that I have to resurface this up again after so long. Been thinking about it and it simply doesn't make sense. If i'm using a 5 decimal system, (g 1.23003) a pip movement would be equilvalent to 0.00001 whereas in a 4 decimal system a pip would be 0.0001.

So the difference of 1 pip in a 4 and 5 decimal system is a tenth.
4 decimal 25pip?
5decimal 250pips?
  • #1,907
  • Jun 23, 2010 5:21am Jun 23, 2010 5:21am
hi orionhan..you have it right for the 4 & 5 decimal point calculation..
  • #1,908
  • Jun 23, 2010 5:39am Jun 23, 2010 5:39am
Quoting orionhan
Hi Bob, sorry that I have to resurface this up again after so long. Been thinking about it and it simply doesn't make sense. If i'm using a 5 decimal system, (g 1.23003) a pip movement would be equilvalent to 0.00001 whereas in a 4 decimal system a pip would be 0.0001.

So the difference of 1 pip in a 4 and 5 decimal system is a tenth.
4 decimal 25pip?
5decimal 250pips?
5decimal - 250 pipettes = 25 pips
  • #1,909
  • Jun 23, 2010 6:21am Jun 23, 2010 6:21am
Quoting nanningbob
Thanks for the article. I guess I dont really understand volume that much but I am willing to read and study. So keep up the good information. Maybe some day I will understand.
I think I am the most vocal disciple and enthusiastic advocate of your system. The system does not need changing since it has proven itself over and over. If I have had losses it is because I have not adhered to the rules or I missed something in the instructions. It would be crazy to change something which is working as it should. Having said that it does not mean that further improvements and fine tuning is not needed.

At present we rely on mathematical indicators to identify OS and OB conditions for our entry and exit rules. IMHO a further aid in determining change of the trend direction and retraces would increase profitability and reduction of losing trades. using additional mathematical indicators (e.g. Schaff, Aroon, RSX, W%R, etc) is just a duplication of WBR indicator which is already used. I am not familiar enough with Volume spread analysis in forex to make a definite judgment, however, there seem to be a large number of people who use this method in their trading with +ve results. I do not want to overload the thread with large volume of materials, therefore, I will post short articles that may shed more light on the concept.

Kind regards
Attached File(s)
File Type: pdf PriceVolume-1.pdf   330 KB | 390 downloads
File Type: pdf Better_Volume_Indicator.pdf   384 KB | 2,860 downloads
  • #1,910
  • Jun 23, 2010 6:22am Jun 23, 2010 6:22am
Quoting orionhan
Hi Bob, sorry that I have to resurface this up again after so long. Been thinking about it and it simply doesn't make sense. If i'm using a 5 decimal system, (g 1.23003) a pip movement would be equilvalent to 0.00001 whereas in a 4 decimal system a pip would be 0.0001.

So the difference of 1 pip in a 4 and 5 decimal system is a tenth.
4 decimal 25pip?
5decimal 250pips?
Sorry guys a pip is a pip adding a decimal place does not change a pip but just adds a tenth place to it. 25 pips in 4 decimals is 25.0 in five decimals. Macman definition is the best 250 pipettes equals 25 pips. LOL love it. In my opinion the 5th decimal is just garbage advertising, you think your getting some kind of fraction value but it allows brokers to expand the spread for a split second at the time of trade, either open or close, but advertise we hold this spread 99.9% of the time. It is gimmick advertising when the program can enlarge the spread for a split second open/close the trade and then go back to the low spread again. Your still paying the higher spreads. It is why the MPTM is getting a lot of trade context is busy signals and you have to wait several seconds and sometimes minutes to get your SL moved up. The constant moving around the spread is qualifying and unqualifying the signal. Nice move on their part to stop or slow down these more advanced EA systems.
  • #1,911
  • Jun 23, 2010 6:33am Jun 23, 2010 6:33am
Quoting astral77
I think I am the most vocal disciple and enthusiastic advocate of your system. The system does not need changing since it has proven itself over and over. If I have had losses it is because I have not adhered to the rules or I missed something in the instructions. It would be crazy to change something which is working as it should. Having said that it does not mean that further improvements and fine tuning is not needed.

At present we rely on mathematical indicators to identify OS and OB conditions for our entry and exit rules. IMHO a further aid...
Your good in posting this material but it is something other than a form of moving average. Therefore if there is something there that helps qualify a trade it will gives a perspective that indicators will not or from an angle indicators cant. Anyway dont know how to add that but I am thinking.
  • #1,912
  • Jun 23, 2010 6:34am Jun 23, 2010 6:34am
If pips matter more than profit, ZAR, HKD and MXN pairs can take care of that.

Nanningbob - just wanted to say "thank you!" for this thread, I've learned quite a few things and picked up few indicators, although I don't trade the NB H4 system.

But this thread have certainly helped me with counter-trend trading, I used to be scared as hell those trades, now I'm not and I pick up some extra pips I would have left behind with my own method.

Thanks a lot!
  • #1,913
  • Jun 23, 2010 6:45am Jun 23, 2010 6:45am
OK guys after beating my brains out trying to get a trend system working I am going to take a rest. However, here is a heads up on version 5. I am going back to the 40MA BB using the sixths indicator as a filter. As you can see by the two pics you can see how filtering using the outside lines of the BB bands when they are outside the orange lines gives very good trades as compared to the 6x6. I will try to post the EAs and everything for 4 and 5D versions this weekend. So this is where I think my best entrances are. Most currency pairs will provide one or two trades a week. Let me know what you think. Pic 1 shows standard entrances and pic 2 shows how we stay out of a BB run by waiting for the BB bands to go outside the lines.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: nzd jpy 1.gif Size: 36 KB
Click to Enlarge Name: nzd jpy 2.gif Size: 38 KB
  • #1,914
  • Jun 23, 2010 6:58am Jun 23, 2010 6:58am
Quoting Swamp Owl
If pips matter more than profit, ZAR, HKD and MXN pairs can take care of that.

Nanningbob - just wanted to say "thank you!" for this thread, I've learned quite a few things and picked up few indicators, although I don't trade the NB H4 system.

But this thread have certainly helped me with counter-trend trading, I used to be scared as hell those trades, now I'm not and I pick up some extra pips I would have left behind with my own method.

Thanks a lot!
Thank you, I have also learned a lot from you guys also. I learn more by sharing than by hiding what I think are Forex secrets. I know its not perfect but I at least am making some money.
  • #1,915
  • Jun 23, 2010 7:27am Jun 23, 2010 7:27am
This looks good and make a lot of sense. i will try that.

Quoting nanningbob
OK guys after beating my brains out trying to get a trend system working I am going to take a rest. However, here is a heads up on version 5. I am going back to the 40MA BB using the sixths indicator as a filter. As you can see by the two pics you can see how filtering using the outside lines of the BB bands when they are outside the orange lines gives very good trades as compared to the 6x6. I will try to post the EAs and everything for 4 and 5D versions this weekend. So this is where I think my best entrances are. Most currency pairs will provide...
  • #1,916
  • Jun 23, 2010 7:28am Jun 23, 2010 7:28am
Quoting nanningbob
OK guys after beating my brains out trying to get a trend system working I am going to take a rest. However, here is a heads up on version 5. I am going back to the 40MA BB using the sixths indicator as a filter. As you can see by the two pics you can see how filtering using the outside lines of the BB bands when they are outside the orange lines gives very good trades as compared to the 6x6...
I do not know what it is with us amateur traders that we like to have a large number of trades! Surely any child can tell you it is better to have 1 winning trade a week rather than 20 losing and 15 winning trades a week! Maybe it is only me but this is the general impression I get and it is very much true in my own case. As your examples show by combining 6th indicator with 40 BB Lines the accuracy of the system is increased. Surely this is the way forward.

I would not worry in developing a trend system, after all please correct me if I am wrong but by counter trend trading we are in effect trend trading the new trend rather than trading the old exhausted trend!!!!!!

Finally, I was thinking it would be useful to have a EA for the manual (Secondary) trades to be used in conjunction with mptm whereby if the trade is closed by hitting its SL after BE +10 the trade is then reentered. Maybe a new input of immediate entry in one of existing EAs? I hope this does make sense.

Kind regards
  • #1,917
  • Jun 23, 2010 11:40am Jun 23, 2010 11:40am
Quoting astral77
I do not know what it is with us amateur traders that we like to have a large number of trades! Surely any child can tell you it is better to have 1 winning trade a week rather than 20 losing and 15 winning trades a week! Maybe it is only me but this is the general impression I get and it is very much true in my own case. As your examples show by combining 6th indicator with 40 BB Lines the accuracy of the system is increased. Surely this is the way forward.

I would not worry in developing a trend system, after all please correct me if I am wrong...
I am thinking of resting the MPTM for this and adding some of my trend trading thoughts. We could set the MPTM for trend trades (specific magic numbers and let the 40 MA BB bands be separate deal. You will see this when I add the TP EA to this system. After the trade is set you will go to a lower TF that will monitor the trade for you and take you out with a MA cross on the lower trade. That way if you get a run you are always in and if you dont it will take you out in a better position than the MPTM would. Just a thought for now.
  • #1,918
  • Jun 23, 2010 7:01pm Jun 23, 2010 7:01pm
Hi Bob...I had already started using the 40ma BB's shited 1 on certain pairs with success..

I don't have the time to do a lot of experminting/analysis, so keep up the good work that we are enoying...
  • #1,919
  • Jun 23, 2010 7:26pm Jun 23, 2010 7:26pm
Got rid at BE my 2nd and 3L Chf/jpy. Depending on what it does I have the option of waiting for a better exit on L1 or catching a retracement later. NZD/CAD, Aud/Cad, NZD/USD, may take out those 1st levels if I dont get some retracement soon. Have not done a 2.4.2 recovery this month so I guess I am due. The last two months sure have been ugly to trade but that is Forex trading. We look for better times.

Dont know if anyone here cares but the USA soccer team won last night. YEAH.

RESULTS
chf/jpy 2L -62 3L +56
eur/aud +31
eur/jpy -18
gbp/chf +50
gbp/nzd 2nd L -2

Sells
gbp/usd PR also qualifies as BB trade. I will wait for it to cross the BB back inside.
Buys
Aud/Nzd PR
Cad/Chf PR see note below
Eur/Nzd qualifies but I aint touching it.
eur/gbp 2nd also qualifies as BB trade. I will wait for it to cross the BB back inside.
USD/CHF 2nd but I am not taking this one either, it just looks ugly as a trade, price movement stinks right now.
USD/JPY PR
STILL IN OR REENTERD
aud/cad -375 2L -234 L3-121
aud/jpy -88
cad/chf (did not enter by 6x6 but entering now at bottom BB band) 0
chf/jpy -201
gbp/nzd -148
nzd/cad -398 2nd L -215 3L -24
nzd/jpy -123
nzd/usd -362 2L -180 3L 0

TOTALS
total for day + 55
for the week + 400
for the month +1774
Carry over - 2469
  • #1,920
  • Jun 23, 2010 7:31pm Jun 23, 2010 7:31pm
Missed the chance last night to exit AUD/USD trade for a zero out, was lazy and didnt set a TP, which is just silly really.

Just opened a 2nd level on AUD/CAD also - looking for a retracement here
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