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  • #1,941
  • Jul 2, 2010 8:17pm Jul 2, 2010 8:17pm
Quoting countex
NB, great job with version 5, adding BB to sixths is a simple stroke of genius.

few observations.

1- you can remove the following code to remove the invisible black line from sixths indi.


ObjectCreate("threesixth",1,0,TimeCurrent(),High[120]);...
At this point I did not know if I wanted to remove that line or not. So I made it black for now. I may just // it out to leave it in if we need to use it later. I am still working on the TP section and dont know if I want it there or not.
  • #1,942
  • Jul 4, 2010 4:54am Jul 4, 2010 4:54am
I'm sure you are aware that Steve Hopwood and others have used the information from your version 5 to develop an indicator. I haven't looked at it yet but it sounds like it may be helpful, check it out at:
http://www.forexfactory.com/showthread.php?t=243432

Got the coming week off so I will have time again to read up and run some tests. If you need anything just let me know.
  • #1,943
  • Jul 4, 2010 7:33am Jul 4, 2010 7:33am
Quoting MorningMania
I'm sure you are aware that Steve Hopwood and others have used the information from your version 5 to develop an indicator. I haven't looked at it yet but it sounds like it may be helpful, check it out at:
http://www.forexfactory.com/showthread.php?t=243432

Got the coming week off so I will have time again to read up and run some tests. If you need anything just let me know.
Steve is working on EAs just for this system. We are working together, Thanks.
  • #1,944
  • Jul 4, 2010 9:14am Jul 4, 2010 9:14am
Quoting nanningbob
Steve is working on EAs just for this system. We are working together, Thanks.
That is a very very good news, I am sure your joint collaberation will be very fruitfull.

kind regards
  • #1,945
  • Jul 4, 2010 4:54pm Jul 4, 2010 4:54pm
I wanted to stop by to tell you how good your system is !
You have developped a fantastic trading system, outstanding!

Having developped the "Trade Signals" indicator over this week-end with Steve, based on your V5 doc, I wanted to have your input on some questions i have been asking myself while working on it:

- what do you think about the "StochasticMACD" line that i coded to allow the MACD to directly compare with the 15/85 stochastic limits ?
It behaves a bit differently than the MACD line itself when you plot both on the same window, due to the automatic "refocus" that MT4 applies to keep the MACD line in the window.
The StochasticMACD will not have this refocus issue as it is normalized to 0..100 range, which was the whole idea of developping it.

However, the MACD line will change aspect if you scroll the screen left and right, which makes the decision to determine if it is "over the 85 stoch line" or "below the 15 stoch line" quite unreliable sometimes, as the MACD may well appear to be in >85 or <15 zone at some point, and then later on appear on the no-trading zone for the SAME candle.
How do you address this issue ?

On the other hand, the StochasticMACD line will get "saturated" earlier, which is the classic flaw of all stachastic oscillators.
The line looks quite distorted sometimes compared to the MACD itself.

Thanks for your time.

SQ
  • #1,946
  • Jul 4, 2010 6:33pm Jul 4, 2010 6:33pm
Quoting squalou
I wanted to stop by to tell you how good your system is !
You have developped a fantastic trading system, outstanding!

Having developped the "Trade Signals" indicator over this week-end with Steve, based on your V5 doc, I wanted to have your input on some questions i have been asking myself while working on it:

- what do you think about the "StochasticMACD" line that i coded to allow the MACD to directly compare with the 15/85 stochastic limits ?
It behaves a bit differently than the MACD line itself when you plot both on the same window,...
First thank you for your work and contributions. They are appreciated very much. The sto/macd was designed around the principle that Sto was an indicator that was too early in its signals and the MACD was too late in its signals so I put them together to get the best of both worlds. It works very well in ranging markets and fairly well in some trending markets. When those lines cross you have a very good chance of price reversal. However, like all MA based indicators they are not good in super news stories. (NFP is not a super news story, USA housing market sales dropping 30% is). Right now the market is being dominated by news stories so indicators are taking a beating. If countries start going bankrupt or need emergency loans to stay afloat or countries start moving their interest rates quickly to compensate, indicators cannot keep up with such news or accurately report what is happening until it is too late.
Anyway I have used this indicator for years and am used to its nuances. Now fixing the MACD like Sto will be interesting to look at and I will do that. I have final exams this week at the university I am teaching at, finishing with grades and then I will give this my 100% undivided attention. Meanwhile I put the first section out early so I could benefit from the wisdom of traders and programmers like you and others. I want to fine tune this into a consistent system. I can already tell you where my concentration is going to be. It is going to be on the outer bands of the BB. How does a 1,2, or 3 MA median interact with it and does it give us a clue whether it will bounce off of the bands or will it run up the bands. If it does it solves the conundrum of BB, ie. will price bounce off of the bands or will it run up/down the band. Even if it filters out 50% of the runners that is 50% we dont have to deal with in DD. The other side of my contribution will be when price does come back inside the BB outer bands how will we trade it? Those are the areas I want to put my attention to. The other areas, if guys like you can improve, I am all for it. So yes that is what I wish for.
  • #1,947
  • Jul 5, 2010 7:16pm Jul 5, 2010 7:16pm
Cant believe I havent updated this but been busy with finals OK yestereday was the Fourth so markets didnt do to much.
Decided just to add a couple of trades for today.
 RESULTS
aud/chf 2nd L +10
aud/jpy -73 2nd L +100
nzd/chf -122 2nd L +80
nzd/jpy -0
Sells
usd/cad
Buys
aud/jpy
nzd/chf
nzd/jpy
STILL IN OR REENTERD
aud/cad -175
aud/chf -369 2nd L 0
cad/chf -311 2nd L -26
cad/jpy -254 2nd L -100
chf/jpy -251 2ndL -22
eur/cad -322 2nd L -73
USD/JPY -253 2nd L -131

TOTALS
total for day -5
for the week-5
for the month -5
Carry over - 2287
  • #1,948
  • Jul 5, 2010 8:27pm Jul 5, 2010 8:27pm
Hi BOB

IMHO profitability of the system is quite satisfactory and the way to improve this further is to reduce DD. It may be stating the obvious and judging by your writings, I believe this is your opinion as well.

As you may recall in May a few of my fellow traders and I had large DD problem with NZD pairs. At present we have the same problem with CHF pairs. As a result of this I planning to try to avoid entering into trades with similar correlation in future (e.g. if trading AUDCHF would avoid trading CADCHF or NZDCHF). Needless to say by doing this if the trades are +ve there will be less profit but with -ve trades there will be less DD. I would like to have your thoughts regarding this idea.

Kind Regards
  • #1,949
  • Jul 5, 2010 10:56pm Jul 5, 2010 10:56pm
Quoting astral77
Hi BOB

IMHO profitability of the system is quite satisfactory and the way to improve this further is to reduce DD. It may be stating the obvious and judging by your writings, I believe this is your opinion as well.

As you may recall in May a few of my fellow traders and I had large DD problem with NZD pairs. At present we have the same problem with CHF pairs. As a result of this I planning to try to avoid entering into trades with similar correlation in future (e.g. if trading AUDCHF would avoid trading CADCHF or NZDCHF). Needless to say by doing...
There are two ways of doing this. The way I do it is I trade all of them but in very small amounts, nickels or dimes. Sometimes the DD may seem like a large number but money wise it amounts to several hundred dollars. Not enough to break me. If you choose only one you probably then would go with higher lot sizes. Now pip wise it may seem smaller DD but money wise you probably will see the same. The reason I do all of them is I dont know which ones will move a lot and which ones will move a little. I may get 25 pips on nzd/usd and 75 on nzd/chf and the next day nzd/usd may go 50 and nzd/chf 10. Or worse yet nzd/usd will go +40 and nzd/chf -75. So that is why I play most of them.

Again we are not in a normal market, it is very news driven and very very difficult to trade. We always want to make improvements but DD is part of the business or taking a SL is part of the business. Those are your choices.

One of the things about versoin 5 is BB entrances give you an extra 40-80 pip better entrance than an MA cross but the MA cross helped keep you out of the trades on BB runs. You sacrifice one advantage to take advantage of another. To me the 6ths indicator gives the advantage back to BB. We use it to help filter out some of these runs but it wont eliminate all of them.

The second part of version 5 is I am going to 2 levels instead of three. When price runs up the band and you use the #2 EA to enter when price comes back inside. Rarely if ever will price do another BB run. It is a rare event so the 2nd L should get you out of trouble and close to break even most of the time. I am not even going to put a third level EA in the system. If you want a third level you will need to add that yourself by going into the EA changing the magic number and lot size. So that is how the vision is developing. 2.4.2 recovery is going to become 1.2. ???
  • #1,950
  • Edited 7:57am Jul 6, 2010 7:46am | Edited 7:57am
Quoting macman
I started a long-term live forward test (demo account) on 21 pairs 8/7/2009 - just about 1 year ago, using NanBob's system...No stops & only intervention is to run a 'rescue' bot when DD hit 500 pips which is basically a hedge. If the position returns positive, 'rescue' bot is removed. Test runs 24/7 & is never shut down...Account started at 10,000 & balance today is 59726 with floating drawdown of 25073, giving a 'real' profit of 24653 if I closed all positions right now...
This is for the people who have voted against the system for full details see in another thread http://www.forexfactory.com/search.p...nduser&u=92663

If you guys know of any other system where a return of 250% in one year is proven please let us know.

Kind regards.

PS testing the Version 5 past 4 day, only taking primary trades only ibfx live penny account had 2 trades thus far EURUSD SELL 50 pips profit and EURCAD SELL 20 pips profit, no losing trades. No bugs thus far, the only problem was the new 6ths indicator was not displaying the middle line so I substituted version 3.5.

I use SL to take profits by constantly moving it up when the trade is in profit. In this version when trades were closed the EA did not reenter automatically. Is this a feature of the new system? If it is we can call it an improvement since with the previous EAs the reentry was automatic regardless of whether the conditions were still met or not, whereas now if the conditions are no longer in place it would not reenter.
  • #1,951
  • Jul 6, 2010 9:21am Jul 6, 2010 9:21am
Quoting astral77
This is for the people who have voted against the system for full details see in another thread http://www.forexfactory.com/search.p...nduser&u=92663

If you guys know of any other system where a return of 250% in one year is proven please let us know.

Kind regards.

PS testing the Version 5 past 4 day, only taking primary trades only ibfx live penny account had 2 trades thus far EURUSD SELL 50 pips profit and EURCAD SELL 20 pips profit, no losing trades. No bugs thus far, the only problem was the new 6ths indicator was not displaying...
version 5 only enters at the BB bands so once in profit it will not reenter unless price moves back up to the BB outer band. It is not based on a MA cross like the previous versions.
  • #1,952
  • Jul 6, 2010 5:39pm Jul 6, 2010 5:39pm
Dear Bob,
I'm a new-hand, I don't know where and how to place the MTPM folder for version 5 .I look for it in your instructions but still have no answer.I'm eagerly waiting for your kindly explaining.Thank you .
  • #1,953
  • Jul 6, 2010 6:27pm Jul 6, 2010 6:27pm
Quoting xchbn
Dear Bob,
I'm a new-hand, I don't know where and how to place the MTPM folder for version 5 .I look for it in your instructions but still have no answer.I'm eagerly waiting for your kindly explaining.Thank you .
Those are EAs and go into the Experts folder
  • #1,954
  • Jul 6, 2010 6:29pm Jul 6, 2010 6:29pm
Sorry but I wont be able to update right now today. Something has come up. Hopefully I will get to this later.

Bob
RESULTS
aud/chf 2nd L +10
aud/jpy -73 2nd L +100
nzd/chf -122 2nd L +80
nzd/jpy -0
Sells
usd/cad
Buys
aud/jpy
nzd/chf
nzd/jpy
STILL IN OR REENTERD
aud/cad -175
aud/chf -369 2nd L 0
cad/chf -311 2nd L -26
cad/jpy -254 2nd L -100
chf/jpy -251 2ndL -22
eur/cad -322 2nd L -73
USD/JPY -253 2nd L -131

TOTALS
total for day -5
for the week-5
for the month -5
Carry over - 2287[/quote]
  • #1,955
  • Jul 6, 2010 9:05pm Jul 6, 2010 9:05pm
Quoting nanningbob
First thank you for your work and contributions. They are appreciated very much. The sto/macd was designed around the principle that Sto was an indicator that was too early in its signals and the MACD was too late in its signals so I put them together to get the best of both worlds. It works very well in ranging markets and fairly well in some trending markets. When those lines cross you have a very good chance of price reversal. However, like all MA based indicators they are not good in super news stories. (NFP is not a super news story, USA housing...
Bob, I have been demo-ing your system and while it is AMAZING, (respect to all your hard work) - I'm still frightened by the level 2, level 3 drawdown component. The tweak I have been considering to overcome that is to initially trade the runners until they reverse, rather than to expect them all to immediately reverse. Your system absolutely nails the point at which we should consider trading either a reversal or continuation of a trend and that is its great strength.

Adopting a trade the trend before the reversal approach will solve the problem of super news stories as well, because you will be in the trade in the right direction while it happens until the reversal, at which point you would stop and reverse your trade.

Basically - price in the right sixths range, and moving outside the BBs, with MACD and Stochs lined up - then start with a trade in the direction of the current trend, then stop and reverse the trade when your EA would enter for the reversal trade.

If you are working with Steve Hopwood on a refined EA, please consider adding this variant (without or without your 2 4 2, 3 level system), because i think it would remove the one weakness of your system.

If you want to discuss further feel free to PM me.

regards
f451
  • #1,956
  • Jul 7, 2010 7:54pm Jul 7, 2010 7:54pm
Cleaned out a lot of dead wood. I am going to trade out what I have and be done with version 4. Will start Version 5 trades Monday. Sorry but I cant discuss, having some issues here at home. Sorry family and business must come first.
RESULTS
aud/jpy +50
aud/chf -219 2nd L +150
cad/jpy -150 2nd L +50
chf/jpy -200 2ndL +28
eur/cad -233 2nd L +18
nzd/chf +21
nzd/jpy +50
usd/cad +50
Sells

Buys



STILL IN OR REENTERD
aud/cad -340
cad/chf -286 2nd L -1
USD/JPY -198 2nd L -76

TOTALS
total for day -385
for the week-340
for the month -340
Carry over - 901
  • #1,957
  • Jul 7, 2010 8:05pm Jul 7, 2010 8:05pm
Quoting f451
Bob, I have been demo-ing your system and while it is AMAZING, (respect to all your hard work) - I'm still frightened by the level 2, level 3 drawdown component. The tweak I have been considering to overcome that is to initially trade the runners until they reverse, rather than to expect them all to immediately reverse....
What will be your rules for this?? How do you know price will continue when it hits a BB band? If you enter a continue you have the same problem with your idea I have with mine if you take the reversal and it doesnt reverse? Do I take a SL or do I multi level trade? Here is a pic or the eur/usd for the last 4 weeks. 12 times price hit the BB band. Only once did it continue its run. My way 11 of the 12 you go into profit just on the BB alone and the one time it ran became a difficult BE I probably still be in that last trade. Your suggestion would put you in the hole 11 times out of 12. This is why trendtraders have a very hard time making money. Why would you want to do that over a 1 in 12 chance of it happening?????
Attached Image (click to enlarge)
Click to Enlarge Name: eur usd.gif Size: 29 KB
  • #1,958
  • Jul 7, 2010 8:32pm Jul 7, 2010 8:32pm
Quoting nanningbob
What will be your rules for this?? How do you know price will continue when it hits a BB band? If you enter a continue you have the same problem with your idea I have with mine if you take the reversal and it doesnt reverse? Do I take a SL or do I multi level trade? Here is a pic or the eur/usd for the last 4 weeks. 12 times price hit the BB band. Only once did it continue its run. My way 11 of the 12 you go into profit just on the BB alone and the one time it ran became a difficult BE I probably still be in that last trade. Your suggestion would...
What I'm suggesting is that when price crosses the BB initially enter in the direction of the trend UNTIL your EA enters for the reversal. At that point close the with trend trade, and enter the reversal trade. So you would have a series of short trades at each of the ticks you have marked on the chart, which close when your EA enters under the reversal conditions, and you would capture the long runner that one time in 12.

cheers
f451
  • #1,959
  • Jul 7, 2010 8:53pm Jul 7, 2010 8:53pm
Quoting f451
What I'm suggesting is that when price crosses the BB initially enter in the direction of the trend UNTIL your EA enters for the reversal. At that point close the with trend trade, and enter the reversal trade. So you would have a series of short trades at each of the ticks you have marked on the chart, which close when your EA enters under the reversal conditions, and you would capture the long runner that one time in 12.

cheers
f451
Please go to any chart and count how many times your idea would actually work over a 4 month period and you will have your answer. Put your idea to the test, look at the charts and see how few times price actually runs up a BB. Runners are not that common and unless you know your fundamentals or news you will not know if or when they will happen. I am not going to try to keep up with news and fundamentals (except interest rate and super news stories, NFP is not a super news story) on 20 some currency pairs. I love my odds just the way they are now. Look at how many times price just touched the line and reversed, 8 of them you would have gone into profit immediately with absolutely no time to close the trade and reverse it again. Put your idea to the test, look at the charts, they will give you your answer.
  • #1,960
  • Jul 8, 2010 12:03am Jul 8, 2010 12:03am
Quoting nanningbob
Here is a preview version of 5.0 This is not the final version but section 1. I want to post this part in a new thread but I need people to read and check it out first. It is 27 pages long but I think it will be exciting. If you have any comments or suggestions please send them to [email protected]. I will upgrade section 1 and then open a new thread for it. Once you see this you will understand why I want to start a new thread. Please try testing the EAs on a demo account both 4D and 5D and see how they perform....
Hey Nanning,
I cant seem to download V5 as it is coming up as a picture format. Can anyone assist with this please.
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