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Nanningbob 4h trading system ver. 5.0

  • #81
  • Jul 23, 2010 2:59am Jul 23, 2010 2:59am
Quoting Jason Bourne
Hi Nanningbob - thanks for your system. I took this trade manually. The lines are bunched under the 15 line and price is outside lower gold 6th line. Also at previous resistance. Would you say that is a good trade according to your system? Thanks for sharing.

Attachment
You need to zoom out more and get 4 weeks showing on the screen. Your screen should look like this making this trade more in the middle. I probably wont be taking this trade but it is according to my rules in version 1. What I would not do if I were you is hold this trade past today's closing. There is a big euro news story coming out this weekend and if the news is bad the EURO will tumble making you on the wrong side of the trade. So when it goes into profit. bring your SL up tight. Good luck.
Attached Image (click to enlarge)
Click to Enlarge Name: eur aud.gif Size: 28 KB
  • #82
  • Jul 23, 2010 3:09am Jul 23, 2010 3:09am
Quoting nanningbob
Does anyone out there have a simple RENKO indicator and an article on how it works. It has caught my attention as a possible use for the TP section. There is so much on it here at FF I just want a basic indi and article explaining its basics. I dont want to download 20 different ones to find out which one may or may not even work with my system.
I use a paid version. But, I believe the one posted by bluemele was developed as an alternative and works just as well. I would recommend a block size of 25 as a starting point. Other sizes may may work better though.

Have been following since middle of ver 4 thread. ver 5 is awesome. Thanks for all the effort and sharing.

I have been pondering how this system would work trading with Renko, not just for exits. Just haven't had the time to throw up a couple charts to see what it looks like.
  • #83
  • Jul 23, 2010 3:22am Jul 23, 2010 3:22am
Here is a Renko FAQ.

Attached File(s)
File Type: pdf Off-line charts FAQ.pdf   71 KB | 2,019 downloads
  • #84
  • Jul 23, 2010 3:35am Jul 23, 2010 3:35am
Quoting roto7gl
I use a paid version. But, I believe the one posted by bluemele was developed as an alternative and works just as well. I would recommend a block size of 25 as a starting point. Other sizes may may work better though.

Have been following since middle of ver 4 thread. ver 5 is awesome. Thanks for all the effort and sharing.

I have been pondering how this system would work trading with Renko, not just for exits. Just haven't had the time to throw up a couple charts to see what it looks like.
I think the one he posted is an EA and I need an indicator otherwise you will need to have two charts for both to work. Any suggestions?
  • #85
  • Jul 23, 2010 3:51am Jul 23, 2010 3:51am
Quoting nanningbob
I still trade a penny on a small IBFX account. ONly on the 4H chart and only on aud/chf and aud/cad I have this spike and cant use my 4H screen. It does not show up on my daily or any other TF only the 4H chart. Very strange. Here is a pic of my 4H chart on these two pairs. Anyone else getting this??
Hi Bob

I get it only with AUDJPY. Something must have messed things up when they switched to 5 digits. Tried everything, restarting platform, rebooting the system, clearing cache files, etc. No joy, it must be server side problem. Lets hope they sort themselves out, as you said they had become a decent broker but it seems they are returning to their old dodgy practices.

Back to the main issue of NanningBOB ver5. Still going strongly. I switched to 10 cents lots since 20th July and at present time (noon London time) $170.00 profit with account balance of $2500 (that is 7% in five days). Have nine open trades and running balance is $+5.50.

Do you close your trades for weekend or do you let them run? I always thought with this system weekends do not have that much effect. But I think I saw somewhere you had written that you use the Closeall script to close all the trades fro the weekend. Please clarify.

Wishing everyone a great weekend
Kind regards
  • #86
  • Jul 23, 2010 4:26am Jul 23, 2010 4:26am
Quoting nanningbob
I think the one he posted is an EA and I need an indicator otherwise you will need to have two charts for both to work. Any suggestions?
The one I use ( see the FAQ ) can also be run as a script, but not an indi

As far as I know Renko can only be run on an offline chart on mt4. I think tradestation has them available on a regular chart. I am not familiar wit TS at all.

If I come up with anything I will let you know.
  • #87
  • Edited Jul 24, 2010 2:35am Jul 23, 2010 5:27am | Edited Jul 24, 2010 2:35am
Thanks Nanningbob, i'll zoom out a little.
Are you treadstone?
  • #88
  • Jul 23, 2010 7:05am Jul 23, 2010 7:05am
Quoting astral77
Hi Bob

I get it only with AUDJPY. Something must have messed things up when they switched to 5 digits. Tried everything, restarting platform, rebooting the system, clearing cache files, etc. No joy, it must be server side problem. Lets hope they sort themselves out, as you said they had become a decent broker but it seems they are returning to their old dodgy practices.

Back to the main issue of NanningBOB ver5. Still going strongly. I switched to 10 cents lots since 20th July and at present time (noon London time) $170.00 profit with account...
I usually carry my trades over the weekend. The biggest gaps I have ever seen have been around 300 pips on the GBP pairs. There is a big euro story this weekend that may do just about anything but I dont think it will be damaging. I wouldnt want to be on any buy euro trades over the weekend. So far the DD has been very very low so I am not too worried. I have closed my profitable trades for the day and have turned all my EAs off. I have 6 open trades left none of them Euros and none over -35 so I am sitting good I think. If they gap against me then I will go to level 2 on Monday. If they gap for me I will close for nice profit. I will check again in about 4 hours and close any trades that show a nice profit. Had two nice runs on the chf/jpy today and the gbp/aud that was sweet 160+. This has been one of my best weeks ever with an 18% increase on my account. I like to do that in a month and I did that in one week. Nothing to sneeze at. Of course it is totally unreal to expect that every week but it was a nice week. If one or two more currencies profit for me today I can clear 1000 pips for the week. So we will see how these last 4 or 5 hours treat me.
  • #89
  • Jul 23, 2010 7:13am Jul 23, 2010 7:13am
Quoting roto7gl
The one I use ( see the FAQ ) can also be run as a script, but not an indi

As far as I know Renko can only be run on an offline chart on mt4. I think tradestation has them available on a regular chart. I am not familiar wit TS at all.

If I come up with anything I will let you know.
I am looking at RENKO as a nice way to know when to TP. If you set it at 20 or 30 pip bars and then when they turn color against you, you can close the trade. The problem I see is getting it to work within the system. I dont know if such a thing could be programmed but once you enter the trade the EA then goes to a RENKO chart and closes profit at a bar color change I think that would be a great EA. Again I dont know if this is even possible. Maybe Steve or some other programmer may think this is possible but I have no idea how to program that. Dont know where I get these off the wall ideas but any programmer up to the challenge ???
  • #90
  • Jul 23, 2010 8:04am Jul 23, 2010 8:04am
Quoting nanningbob
I usually carry my trades over the weekend. The biggest gaps I have ever seen have been around 300 pips on the GBP pairs... If one or two more currencies profit for me today I can clear 1000 pips for the week. So we will see how these last 4 or 5 hours treat me.
Thanks very much for your advice. I had one Buy trade EURAUD which I closed. It has been very good week indeed, i do not know if it is the version5 and BB sixth indicator combination or if it is the market conditions.

It may be an idea to introduce a poll for this thread and see how many think it is a waste of time!!! I think if you start a mentorship service and charge $200 per student per month then more people would appreciate the merits of your system and guidance.

Wishing you a great weekend
  • #91
  • Jul 23, 2010 8:34am Jul 23, 2010 8:34am
In my trading versions 1-4 I used a daily volatility fact sheet to determine volatility of a currency pair. Instead I will use a weekly instead. Now this information is based on history charts from the MT4 of IBFX. I am grateful for the information but I know that some of the info is flawed. However, the purpose of this is not absolute fact but enough information to determine which currencies do what most of the time. My raw data can be found in my Weekly Currency Facts sheets dated July 2010. I will rate 28 of the most commonly traded currencies. I will divide them into four major groups based on their percentage of times they will move over 300 pips in one week. Here are the 4 groups:

1.VERY VOLATILE GROUP: THEY WILL MOVE OVER 300 PIPS IN ONE WEEK MORE THAN 75% OF THE TIME.
a. GBP/NZD, EUR/NZD, GBP/AUD, GBP/CAD, GBP/JPY
b. This group if you trade them you will want to use a reentery of 250 pips plus. This will be explained later in the 2.4.2 recovery system.
2.VOLATILE GROUP: THEY WILL MOVE OVER 300 PIPS IN ONE WEEK MORE THAN 50% OF THE TIME
a.GBP/CHF, CAD/JPY, EUR/CAD, EUR/AUD, USD/CHF, GBP/USD, EUR/JPY
b. This group if you trade them you will want to use a reentery of 200 pips.
3.MEDIUM VOLATILE GROUP: THEY WILL MOVE OVER 300 PIPS IN ONE WEEK MORE THAN 25% OF THE TIME.
a. NZD/JPY, AUD/CHF, AUD/JPY, USD/JPY, EUR/USD, NZD/CHF, CAD/CHF,
b. This group if you trade them you will want to use a reentry of 150-200 pips.
4. LOW VOLATILITY GROUP: THEY WILL MOVE OVER 300 PIPS IN ONE WEEK LESS THAN 25% OF THE TIME.
a. AUD/NZD, NZD/USD, CHF/JPY, AUD/CAD, USD/CAD, NZD/CAD, AUD/USD, EUR/CHF, EUR/GBP
b.This group if you trade them you will want to use a reentry of 150+
·Just some notes about volatility:
·The chf/jpy has had two 4000+ weeks which are the biggest of any currency yet after that it is is a low volatililty pair.
·The EUR/AUD is listed with the volatile group yet it has the biggest one day move of any pair.
·The USD/CAD is listed in the LOW VOLITILITY group but because it trades the same time as the USD it can get crushed for weeks and not retrace. Unlike usd/nzd and aud/usd, these have their own trading periods where the USD is quiet. The CAD has no such time so it can go weeks without a major retrace. I don’t like trading the USD/CAD for that reason.
·The GBP/NZD is by far the most dangerous and exciting pair to trade. However, it can go 1500 pips with out retrace so unless you know this pair very very well, LEAVE IT ALONE. You can find yourself hundreds of pips in the hole very quickly.
·GBP/AUD and GBP/CAD are in the very volatile group but I will trade them. WHY?? Because they will retrace regularly and are limited in their distance. GBP/AUD shows no weeks over 900 pips and GBP/CAD 2 times. Compare that with GBP/JPY which goes over 900 pips almost 7% of the time. Making GBP/JPY more dangerous to trade.
·With IBFX I will trade any of these pairs but you must really watch the pip spread. They will move around a lot. For example EUR/NZD sometimes can be a 50+ pips spread at times.
·I also use FXSol UK which has fixed spreads. So I don’t trade pairs 20 PIPS or more on the spread. This list includes GBP/NZD, EUR/NZD, NZD/CHF, AUD/NZD, NZD/CAD. I will trade nzd/chf, aud/nzd, with other brokers though because their spread is much lower.
·Don’t be fooled by 5 digit brokers and their claims of lower spreads. They just bump them quickly at the time of trade. Watch the tick chart when you enter your trade and you will see what I mean. With FXSol I am fixed at 4 pips on the aud/usd. I did a trade with IBFX with the AUD/USD and when I hit the button it was at 3.2 but it jumped at acceptance to 7.5. I wish I had my screen capture on at the time to catch it. . They will say that is just the market but don’t be fooled by that garbage. It can be written into the programming to do that over a split second.
So I am trading these pairs with FXSol. All 28 pairs above except the following. GBP/NZD, EUR/NZD, NZD/CHF, NZD/CAD, USD/CAD. Giving me 22 pairs to trade. With IBFX I add nzd/chf but don’t have gbp/cad, gbp/aud, cad/chf, cad/jpy, nzd/cad. I do very limited trading wth the USD/CAD and EUR/NZD. So 22 pairs there too. Anyway these are my trading pairs. If you are a beginner you can shy away from the volatile pairs. If I am dumb enough to take a gbp/nzd trade I use a 300 pip reentry with that one and the eur/nzd now. Please consult the weekly currency facts page 1 post 1 for the data I based these conclusions on.
  • #92
  • Jul 23, 2010 8:42am Jul 23, 2010 8:42am
Quoting astral77
Thanks very much for your advice. I had one Buy trade EURAUD which I closed. It has been very good week indeed, i do not know if it is the version5 and BB sixth indicator combination or if it is the market conditions.

It may be an idea to introduce a poll for this thread and see how many think it is a waste of time!!! I think if you start a mentorship service and charge $200 per student per month then more people would appreciate the merits of your system and guidance.

Wishing you a great weekend
I am happy just doing this. I think I have said this before, the reason I do it is it keeps me disciplined. I am less likely to take stupid trade if I tell eveyone which ones I am taking. I force myself to follow my own rules. LOL

The EUR/AUD is a very dangerous currency pair. It seems so mild and safe and then BOOM it will just go crazy at times. It holds the record for most pips without a retrace in one day. It was the currency that killed my 100x40 EA. It showed me how that EA could be beat. My 2.4.2 and only going 3 levels deep at any time came from my bad trades on this pair. It is not going to kill me again. I decided it was going to have its limit of how much of my flesh it would take.
  • #93
  • Jul 23, 2010 8:49am Jul 23, 2010 8:49am
Quoting astral77
Thanks very much for your advice. I had one Buy trade EURAUD which I closed. It has been very good week indeed, i do not know if it is the version5 and BB sixth indicator combination or if it is the market conditions.

It may be an idea to introduce a poll for this thread and see how many think it is a waste of time!!! I think if you start a mentorship service and charge $200 per student per month then more people would appreciate the merits of your system and guidance.

Wishing you a great weekend
Market conditions have been good. We had some DD early in the week but the BB runs were only 1 leg runs so we recovered quickly. When we get into 2 or 3 leg runs then we will see some DD. Also so those long, drawn out, slow trends, Will see if we can get close to BE easier than we did with the MA crosses. I am hoping the #2 EA will bail us out easier on those deals.
  • #94
  • Jul 23, 2010 11:45am Jul 23, 2010 11:45am
Hi! Guys,

I stumbled upon your forum two days ago and I consider myself lucky enough to find about the completion of your project Nanningbob. My name is Edd and I came from Toronto. I got hold of the previous version before the final version and followed up several discussions related thereto. I just want to confirm if the final version still require to enter sell and buy price into the EA.

Thanks a lot.

Edd
  • #95
  • Jul 23, 2010 6:20pm Jul 23, 2010 6:20pm
Quoting Edd Ganuelas
Hi! Guys,

I stumbled upon your forum two days ago and I consider myself lucky enough to find about the completion of your project Nanningbob. My name is Edd and I came from Toronto. I got hold of the previous version before the final version and followed up several discussions related thereto. I just want to confirm if the final version still require to enter sell and buy price into the EA.

Thanks a lot.

Edd
I am not quite sure what you are asking but yes there are separate buy and sell EAs. You use them when you think the conditions are good for an EA. I have come to the conclusion that a 100% robot is very very difficult to attain. A robot cant decide to stay out of a trade because of upcoming market conditions. For example the last couple of days I have recommended not doing a buy on the Euro because of a news story that is coming out this weekend. If the news is bad enough the Euro make take quite a tumble. A robot can never make a decision like that. So we trade according to indicators and keep our eyes on the news. Dont know any robot that can do that. So the EA buy and sells are separate to be decided by you as to when to use them. I post my decisions every day so new traders can get a feel of trading. They get to see all my mistakes also which I dont see other so called professional guru's do. They only show their successes which I think is a bad mistake.
  • #96
  • Jul 23, 2010 6:48pm Jul 23, 2010 6:48pm
I added on my new currency volatility report. It is based on weekly volatility instead of daily. The info is found on page 1 post 1. I changed my thinking on some currencies because of this report. So the new info will be included now in my daily posts.

+1157 for the first week, I will take that, any complainers. Still people voting against the system on the previous thread. Amazing .......... and to think some of those people vote our leaders in. That is a scary thought.

I am going to post my new trades for Monday but you have to realize they can change with the EURO news story this weekend and the Monday gaps. If the story hits hard I probably wont add anything until ???????????? depends on the how big the story is.
RESULTS
chf/jpy took two trades yesterday +22 +49 Both hit my TS
GBP/AUD +140 I think I made a mistake in an earlier post and said 160+ I closed it earlier than that. Nice run though.
usd/jpy +7 hit my TS
usd/chf +11 hit my TS
Sells
aud/jpy #1
eur/chf #1
eur/jpy #1
eur/usd #1
gbp/cad #1
gbp/chf #2 if it gaps up monday turn on the EA if it doesnt dont touch it.
gbp/jpy same as gbp/chf
gbp/usd #2
nzd/chf #2 if it gaps up
Buys
Interesting market looks like it wants to move down only. When you see this it usually means something is up.
STILL IN
aud/cad #1 -29
aud/chf #1 -82 maybe I shouldnt take them when they dont quite qualify
aud/usd #1 -77
nzd/cad, -23
nzd/jpy, -69
nzd/usd -44
TRADES NOT TAKEN YESTERDAY THE EA WAS NOT HIT
Sells
aud/jpy #1 not entered turn off EA
aud/nzd #1 not entered turn off EA
Eur/gbp not entered turn off EA
eur/jpy not entered turn off EA
Eur/usd not entered turn off EA
Buys
GBP/CHF dang that was a nice one too. See earlier posts of entrance problems.
gbp/jpy not entered turn off EA
TOTALS
total for day +389
for the week +1157
for the month +1157
Carry over -324

I will divide currency pairs into four major groups based on their percentage of times they will move over 300 pips in one week. Here are the 4 groups:

1.VERY VOLATILE GROUP: THEY WILL MOVE OVER 300 PIPS IN ONE WEEK MORE THAN 75% OF THE TIME.
a. GBP/NZD, EUR/NZD, GBP/AUD, GBP/CAD, GBP/JPY
b. This group if you trade them you will want to use a reentery of 250 pips plus. This will be explained later in the 2.4.2 recovery system.
2.VOLATILE GROUP: THEY WILL MOVE OVER 300 PIPS IN ONE WEEK MORE THAN 50% OF THE TIME
a.GBP/CHF, CAD/JPY, EUR/CAD, EUR/AUD, USD/CHF, GBP/USD, EUR/JPY
b. This group if you trade them you will want to use a reentery of 200 pips.
3.MEDIUM VOLATILE GROUP: THEY WILL MOVE OVER 300 PIPS IN ONE WEEK MORE THAN 25% OF THE TIME.
a. NZD/JPY, AUD/CHF, AUD/JPY, USD/JPY, EUR/USD, NZD/CHF, CAD/CHF,
b. This group if you trade them you will want to use a reentry of 150-200 pips.
4. LOW VOLATILITY GROUP: THEY WILL MOVE OVER 300 PIPS IN ONE WEEK LESS THAN 25% OF THE TIME.
a. AUD/NZD, NZD/USD, CHF/JPY, AUD/CAD, USD/CAD, NZD/CAD, AUD/USD, EUR/CHF, EUR/GBP
b.This group if you trade them you will want to use a reentry of 150+
  • #97
  • Jul 24, 2010 2:55am Jul 24, 2010 2:55am
Hey guys

I didn't realise Bob had started this thread or I would have been here sooner.

The attached merely displays:

 

  1. the direction of the previous renko candle as up, down or none
  2. the direction of the current renko candle as up, down or none
  3. the status change between the previous two candles as: changed up, changed down or no change
  4. the number of pips left until the candle changes

You can view this working in visual backtesting - you will see nothing happening on demo right now as the criminals are closed and our platforms are not receiving any ticks.

There is only one input. Use 'proper' pips - the ea will adjust for x digit crims.

Bob, I have included instructions for using this within your ea's to take profits. Sing out if you need anything else.

I am off to post 1 now, to catch up with developments here.

Attached File(s)
File Type: mq4 Renko candle display EA.mq4   5 KB | 790 downloads
  • #98
  • Edited 2:37pm Jul 24, 2010 9:05am | Edited 2:37pm
There was no way I was going to leave those ea's alone.

The attached:

 

  1. Remove the gazillion inputs and lines of redundant code
  2. Include ECN support. Incidentally, the order-sending function will place a comment in the Journal tab if there is an error during the trade-sending process.
  3. Allows you to enter stops and tp's should you wish. Use 'proper' pips as the ea automatically accommodates op to and including 6 digits.

I have coded #2 and #3 ea's according to my understanding of Bob's use of moving averages.

You guys know how prone to bloops I am, so test these on demo first before risking your cash.

Attached File(s)
File Type: mq4 #1 BUY 25 BB by Steve Hopwood.mq4   6 KB | 718 downloads
File Type: mq4 #1 SELL 25 BB by Steve Hopwood.mq4   6 KB | 603 downloads
File Type: mq4 #2 BUY 1MA 25 BB by Steve Hopwood.mq4   6 KB | 596 downloads
File Type: mq4 #2 SELL 1MA 25 BB by Steve Hopwood.mq4   6 KB | 603 downloads
File Type: mq4 #3 BUY BULGE BB by Steve Hopwood.mq4   6 KB | 615 downloads
File Type: mq4 #3 SELL BULGE BB by Steve Hopwood.mq4   6 KB | 617 downloads
  • #99
  • Edited 12:48pm Jul 24, 2010 10:42am | Edited 12:48pm
Hi Guys

When I trade I always want to know exactly how much of my account maybe at risk on a predefined lot size and a predefined stop-loss is hit, or draw down accrues.

Below I have attached a very simple self explanatory Excel Calculator (Excel 2007) I put together a while back that uses pip value calculations from a website. The one figure computed then has to be inputted manually into the spreadsheet.

A bit simple, but works very well, change it, as you like.

Disclaimer
Use of this calculator is at own risk to account.

Marshy.
Attached File(s)
File Type: xls Simple Forex Calculator.xls   48 KB | 1,189 downloads
“A setback is a setup for a comeback.”
  • #100
  • Jul 24, 2010 4:35pm Jul 24, 2010 4:35pm
Quoting marshy
Hi Guys...
Thanks for the great little tool. Hope you dont mind but I am putting this on the first page. Great work.
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