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Nanningbob 4h trading system ver. 5.0

  • #41
  • Jul 21, 2010 5:40am Jul 21, 2010 5:40am
Quoting laharjaya
sorry bob

i just want to clear about ur ea

from what u state above

that mean #ea2 and #ea3 also can running at same time with #ea1 in one acc. for 1 pair.
Yes you can run as many EAs as you want as long as there is 1 EA per screen and each EA has its own magic number. If price goes in your direction you hit a home run. If not ...................... hmmmmmmmmmmm well have fun recooperating.
  • #42
  • Jul 21, 2010 7:35am Jul 21, 2010 7:35am
#3 EA version 5.1 is ready Go to post 1 page 1 to get the update. Throw out the NB Bands Sell and Buy indicators they are useless now. The template has the correct lines to match the EA. (I hope )

I expect this EA version will have more uses than the bulge but we will get into these later as I get used to the EA. The #3 MTPM should still work with this 5.1 version because the magic numbers are still the same.
  • #43
  • Jul 21, 2010 7:45am Jul 21, 2010 7:45am
I'm getting my feet wet on the 4h system as well, looking forward to learning. How should I read the current EURUSD chart at the moment? The RWB lines and BB are working their way towards a buy signal but the price is above the top green line. To me those are mixed signals so I don't put any ea on the chart. Am I reading this right?
  • #44
  • Jul 21, 2010 8:45am Jul 21, 2010 8:45am
Quoting nanningbob
Thanks for the heads up. I definitely wont be going long Euro thats for sure. I have read many articles of how some people are expecting the dollar and Euro to become equal 1:1 but then again I never trade those guys comments because it is usually the opposite and they are just trying to set up the rookies for a fall. Anyway will keep a wary eye out. Appreciate it very much when people bring up potential news that can really alter the markets.
Hi All,
I need to know where and how I can get daily financial news so as to be aware of how the market can move. Where do people get these news from?
LEARNING HOW TO FISH SO I CAN FISH FOREVER
  • #45
  • Jul 21, 2010 9:01am Jul 21, 2010 9:01am
The first page of Forex Factory has a list of events. Most of these events will have no impact put some will. There are also some sites which offer this economic news. Your MT4 terminal has a news tab too but it only lists it as it happens so you can only react, you can't anticipate. If you're insure about the impact of a news item, it may be better not to trade at all and wait for the retrace. I have no experience of trading news items so someone else may have different experiences.
  • #46
  • Jul 21, 2010 9:07am Jul 21, 2010 9:07am
Quoting astral77
Please find attached reults of my IBFX account for the last 2 days using version 5. for some reason with IBFX SWitch over to 5 digits everything has gone haywire with them. I could not get mt4 to produce a report so I just copied the screen and pasted it to a word document. As you can see, made just over $100 using between 10 to 20 cents per lot. Therefore, over 500 pips profit. The combination of BB and sixths indicator is just pure genius and if these results are not a one off, but a preview of things to come then we have very profitable days...

Hi Astral,
Unless I'm missing something, but i notice that you use your SL to close out most of your trades. I suppose this is the MPTM @ +10? Is this at strategy you use for trading HIGH lot sizes?
LEARNING HOW TO FISH SO I CAN FISH FOREVER
  • #47
  • Jul 21, 2010 12:59pm Jul 21, 2010 12:59pm
Quoting MorningMania
I'm getting my feet wet on the 4h system as well, looking forward to learning. How should I read the current EURUSD chart at the moment? The RWB lines and BB are working their way towards a buy signal but the price is above the top green line. To me those are mixed signals so I don't put any ea on the chart. Am I reading this right?
You only buy at the bottom of the screen You are looking for sells on the EUR/USD. So price would have to move back up to the top of the BB to be a trade again. Price is heading for the center and when it is in the center it can do anything so I sit it out.
Attached Image (click to enlarge)
Click to Enlarge Name: eur usd.gif Size: 30 KB
  • #48
  • Jul 21, 2010 5:15pm Jul 21, 2010 5:15pm
Quoting Mixer
Hi Astral,
Unless I'm missing something, but i notice that you use your SL to close out most of your trades. I suppose this is the MPTM @ +10? Is this at strategy you use for trading HIGH lot sizes?
The beauty of nanningbob`s system is its versatility and its immunity to everyday news events (except SUPER news as Bob calls it). I did not realize I was using such high Lots as you put it. Normally it is recommended your lot size should be account balance divided by 20,000 to 50,000. For this system that can go couple of thousand pips into -ve, I use the formula of account balance divided by 200,000 (i.e. Balance of $2,500/200,000= 0.0125 =12.5 cents rounded off to 0.10 cents in penny account).

Bob says you can scalp or go for larger runs, the thing is that many times the trade goes +ve for 40 to pips and then it goes into -ve. As Boris Schlossberg says, do not let a winner to turn to a loser. So I grab the profits when I can and hope for more, I am not sure this is the best way.

Kind Regards
  • #49
  • Jul 21, 2010 6:30pm Jul 21, 2010 6:30pm
quiet day, not much going on. I will experiment with the bulge EA with the rule, as long as BB is above/below or around GOLD line of 6th indicator I will turn it on and see what happens so will try that on the GBP/JPY. It worked on the aud/usd yesterday. I will do only 1 pair with that. See Pic below. So far very low DD.
RESULTS
AUD/USD #1 Changed EA to my new #3 Bulge +50
aud/cad #1 +13
Sells
aud/cad #1
aud/usd #1
nzd/usd #1
Buys
GBP/JPY #3
USD/JPY #1


STILL IN OR NOT ENTERD
aud/jpy #1 Not entered turned off EA
chf/jpy Not entered turned off EA
eur/jpy #1 Not entered turned off EA
eur/usd #1 Not entered turned off EA
usd/chf #1 Not entered turned off EA


TOTALS
total for day +63
for the week +689
for the month +689
Carry over 0

The info below is going to be changed but I still post this as a guide. Currency info is going to be based on the weekly instead of daily volatility. So it will change. Weekly volatility was added to post 1

CURRENCIES AND OTHER INFO.

I am going to divide currencies into 4 groupings. Slow, medium, moderate volitility, extreme volitility. 2nd level reentry numbers are suggestions.

SLOW CURRENCY GROUP: 150 reentry

AUD/NZD, CHF/JPY, EUR/GBP, EUR/CHF, NZD/USD, USD/JPY, USD/SGD, USD/HKD

MEDIUM GROUP: 150-200 reentry

AUD/CAD, AUD/USD, EUR/CAD, EUR/USD, NZD/JPY, NZD/CHF, USD/CAD,

MODERATE VOLATILE GROUP. 200 reentry

AUD/CHF, AUD/JPY, EUR/AUD, EUR/JPY, GBP/USD, USD/CHF

VOLATILE (USE WITH CAUTION OR GO 250 OR 300 ON THE REENTRIES. 200+ reentry

GBP/CHF, GBP/JPY, EUR/NZD

DO NOT RECOMMEND LIST 300+ reentry

If you want practice with the 2.4.2 recovery system use the GBP/NZD. I have been using 300 pip reentries with the gbp/nzd successfully

GBP/NZD, GBP/AUD, GBP/CAD


__________________
  • #50
  • Jul 21, 2010 6:34pm Jul 21, 2010 6:34pm
Here is the gbp/jpy. The BB are outside an obvious Support line. It looks like the Bulge Buy #3 EA would pick up this trade where the BB #1 will not. So I will try my new EA out in this case. I am way down on the chart in case it runs so I feel it is a safe trade for now. This is the fourth time in 4 weeks price has come to this spot so it looks good.
Attached Image (click to enlarge)
Click to Enlarge Name: gbp jpy.gif Size: 32 KB
  • #51
  • Jul 21, 2010 6:44pm Jul 21, 2010 6:44pm
Here is a secondary Aud/Cad trade. Was a primary two weeks ago and looks good again today.
Attached Image (click to enlarge)
Click to Enlarge Name: aud cad.gif Size: 35 KB
  • #52
  • Jul 21, 2010 7:01pm Jul 21, 2010 7:01pm
Quoting Mixer
Hi Astral,
Unless I'm missing something, but i notice that you use your SL to close out most of your trades. I suppose this is the MPTM @ +10? Is this at strategy you use for trading HIGH lot sizes?

At a 100:1 leverage or higher I trade one penny per hundred. So if I have 1000 dollars I will trade ten cents. This allows me to increase the lot size for level 3 trades. If you are new to this you may want to go a nickel per thousand and really play safe. You want room to maneuver in bad trades to 0 them out.
  • #53
  • Jul 21, 2010 7:43pm Jul 21, 2010 7:43pm
Quoting nanningbob
Here is a secondary Aud/Cad trade. Was a primary two weeks ago and looks good again today.
HI BOB

Quick question regarding this set up. As you can see the price is very near the middle bolinger band and my understanding of the EA is that if the price bar touches this band a trade would be entered which is not in accordance with the rules (if I am mistaken regarding this please correct me). Therefore, what is the option in this situation, do you carry on hoping the price would hit the top band and if by any chance it hits the middle band it is still ok because the price is going south. Please clarify.

kind regards
P.S. wednesday was quite and Thursday looks the same. As you say "not trading is trading by keeping out of trouble". Therefore, I am going to stay away from riskier trades and count my handsome 6% profit for the time being.
  • #54
  • Jul 21, 2010 9:39pm Jul 21, 2010 9:39pm
Quoting astral77
HI BOB

Quick question regarding this set up. As you can see the price is very near the middle bolinger band and my understanding of the EA is that if the price bar...
None of my EAs take a trade off the middle band. So yes I am looking for a price spike off of the top band. As long as the white band is above the top line on the sixth they qualify as secondary trades if it gets back up there. If price goes into ranging mode it is a perfect trade.
  • #55
  • Edited 5:22am Jul 22, 2010 4:38am | Edited 5:22am
I'm trying to figure out why a trade wasn't made on this chart for me last night. Is it because it was on a blank with 1MA template chart? I wouldn't think it would matter what template it was on as long as you have the correct EA on the chart. I had the #1 Buy 25 BB EA on the chart and no trade was made when price touched the bottom BB. I'm using FX Solutions UK as you are with the default lot size changed to .1 lots for a standard account. I had the trade manager EA on at the same time but that shouldn't have interfered. No other EA's on at the time. Would have been a nice trade. Thanks
Attached Image (click to enlarge)
Click to Enlarge Name: bob.gif Size: 25 KB
  • #56
  • Jul 22, 2010 5:32am Jul 22, 2010 5:32am
Quoting Toothman
I'm trying to figure out why a trade wasn't made on this chart for me last night. Is it because it was on a blank with 1MA template chart? I wouldn't think it would matter what template it was on as long as you have the correct EA on the chart. I had the #1 Buy 25 BB EA on the chart and no trade was made when price touched the bottom BB. I'm using FX Solutions UK as you are with the default lot size changed to .1 lots for a standard account. I had the trade manager EA on at the same time but that shouldn't have interfered. No other EA's on at the...
I dont know, I had the same trade on and used the #3 and #1 EA and they both entered. I also am using FXSol and they both entered the trade. The only explanation I would have is internet connection. Check the journal tab and see if the EA sent out the signal it will tell you what might have happened. When the EA sends the signal it will say Order is opened and then you can follow what happened after that. For the order to be accepted it will say request is accepted by server. See if that happened. Let me know.
  • #57
  • Jul 22, 2010 5:37am Jul 22, 2010 5:37am
i have modified a little bit this strategy..

for manual trades (NO EA, NO INDICATORS)

1)take the highest high and lowest low..draw fib with 13,25,38,50,62,75,87,100 levels.. [8ths screen]
2)ctrl+y .. adjust zoom to have 7 vertical lines (ctrl+y)
3)put a RN "indicator" every 100 pips (u can find it on FF)

entry: RN (nearest of the fib level)
exit: fib level (under/above depending the move)

chart is just an example.. u dont have to jump in if u dont agree
Attached Image (click to enlarge)
Click to Enlarge Name: fib.jpg Size: 91 KB
  • #58
  • Jul 22, 2010 6:10am Jul 22, 2010 6:10am
Quoting mistersimple
i have modified a little bit this strategy..

for manual trades (NO EA, NO INDICATORS)

1)take the highest high and lowest low..draw fib with 13,25,38,50,62,75,87,100 levels.. [8ths screen]
2)ctrl+y .. adjust zoom to have 7 vertical lines (ctrl+y)
3)put a RN "indicator" every 100 pips (u can find it on FF)

entry: RN (nearest of the fib level)
exit: fib level (under/above depending the move)

chart is just an example.. u dont have to jump in if u dont agree
One of the things experienced traders can do is use indicators they are familiar with or comfortable with and still use the basic philosophy of the system. 7 vertical lines is following price action over 2 months, 4 vertical lines is over 1 month. Either way you are getting a good overall view of what price is doing. From that view you can get a good idea of what price will do next. Good luck, I think you will find variations of the same philosophy will work.
  • #59
  • Jul 22, 2010 6:36am Jul 22, 2010 6:36am
Quoting nanningbob
I dont know, I had the same trade on and used the #3 and #1 EA and they both entered. I also am using FXSol and they both entered the trade. The only explanation I would have is internet connection. Check the journal tab and see if the EA sent out the signal it will tell you what might have happened. When the EA sends the signal it will say Order is opened and then you can follow what happened after that. For the order to be accepted it will say request is accepted by server. See if that happened. Let me know.
Bob,
I had no internet disconnection during the night so that wouldn't have been the problem. My journal shows the EA loaded successfully but there was never a signal sent to enter a trade . So I'm stumped. There's only one version of the EA's right? I was thinking maybe I had a 5 digit version on the chart with my broker being 4 digits.
  • #60
  • Jul 22, 2010 6:57am Jul 22, 2010 6:57am
One thing I must have missed in the manual is the strategy for taking profit. How do you guys determine your aim.
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