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Nanningbob 4h trading system ver. 5.0

  • #141
  • Jul 25, 2010 6:01pm Jul 25, 2010 6:01pm
I changed the bulge EA because I could not get the EA and indicator to trade together. I explained this earlier the trouble with programming BB EAs so I switced to a MA high/low system. I tried explaining the technicals behind it but probably just confused a lot of people. The bottom line was they didnt work together so I changed it.
  • #142
  • Jul 25, 2010 6:02pm Jul 25, 2010 6:02pm
Quoting astral77
[color=Blue]To everyone who is reading this thread

Christmas has come early this year and you are reading one of the best (if not the best) threads on FF. If you are new to forex and have arrived here via Google or other search you are extremely lucky. You just need this thread to ensure you have a good trading future. For those of us familiar with FF, Nanningbob, Stevehopwood and swingman need no introduction. However, for those who are not familiar with these 3 names here is a very brief introduction:

[b]NanningBOB,...
Thanks, I appreciate Swingman and Steve also.
  • #143
  • Jul 25, 2010 6:15pm Jul 25, 2010 6:15pm
Here is a demo trade I am in right now - first candle of the new week so perhaps a bit premature; we shall see.

Market opened above BB, so I set no 2 onto it.

Any comments, Bob?

I have some more with the ea's waiting to pounce.

Attached Image (click to enlarge)
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  • #144
  • Jul 25, 2010 6:22pm Jul 25, 2010 6:22pm
Quoting nanningbob
Thanks, I appreciate Swingman and Steve also.
I am telling it as it is. So many traders lose so much money falling for con artists, especially early in their trading path. I think most of us has been a victim at some point or other.

Just want to give a unbiased opinion so anyone who has arrived here via google or other means does not make the same mistake that I and so many others did by just giving it a five minute glance and moving on. I was fortunate in coming back a second time and studying the system in depth, others may not be that fortunate.

As for my opinion of you gentlemen; I have asked all three of you numerous questions and always had polite, prompt and detailed reply.

Kind regards
P.S. a word of advice for people who want to ask Steve a question. Please ensure you have done your homework and do not ask silly, repetitious question. Unless you want your head chewed off.
  • #145
  • Jul 25, 2010 6:27pm Jul 25, 2010 6:27pm
Quoting SteveHopwood
Here is a demo trade I am in right now - first candle of the new week so perhaps a bit premature; we shall see.

Market opened above BB, so I set no 2 onto it.

Any comments, Bob?

I have some more with the ea's waiting to pounce.

I am already in this trade at -58. I was in with the #1 EA earlier. You have a better position than me but I think it will be a good trade for the short term. I love that concept waiting for the EAs to pounce. I like that term. We are lions stalking FOREX prey. hmmmmmmmmmm that has got a nice ring to it.
  • #146
  • Jul 25, 2010 6:29pm Jul 25, 2010 6:29pm
P.S. a word of advice for people who want to ask Steve a question. Please ensure you have done your homework and do not ask silly, repetitious question. Unless you want your head chewed off.

Hmmmmmmmm Steve, you are a lion ready to pounce. Ready for some Forex prey.
  • #147
  • Jul 25, 2010 7:19pm Jul 25, 2010 7:19pm
The ea pounced again - an audjpy sell.

Ok, off to bed now. Granted, these are demo trades but even if they were live, I would still be off to bed.

One big lessons I have learned in the last 4 years is this: trade lot sizes that allow you to sleep.

  • #148
  • Jul 25, 2010 7:34pm Jul 25, 2010 7:34pm
Quoting SteveHopwood
The ea pounced again - an audjpy sell.

Ok, off to bed now. Granted, these are demo trades but even if they were live, I would still be off to bed.

One big lessons I have learned in the last 4 years is this: trade lot sizes that allow you to sleep.

YUP. What most people here dont realize is I live and work in China and I sleep through most of the USA session. My lot sizes to account are small enough I dont worry about what a trade does. If it goes for me I wake up and take my profit. If it goes against me I start my level 2 trade. If it did nothing I do nothing. Keeps my blood pressure down. I have set my trades and will walk away for the day. I will be back for lunch but if I go out for lunch then it maybe 8 hours before I see my screen again. For me to lose my account it would have to go 10,000 pips or more in the hole and that aint gonna happen. So get a good nights sleep and I will get a good day's work in. Tata for now.
  • #149
  • Jul 25, 2010 9:10pm Jul 25, 2010 9:10pm
Since Bob's brought up divergence, wouldn't it be a nice addition to this strategy to come up with a #5 EA( I know #4 is being tested) that would trade when divergence is spotted. I'm a true believer in RSI divergence. First off, I won't trade divergence that's older than 5 days on a 4HR chart. I like to wait until Bob's red, white and blue are at extremes and price is in top or bottom 1/3 of chart. I won't trade divergence unless I get a confirmation candle that is heading in the opposite direction. This is where alot of people go wrong. They trade as soon as they see divergence but nothing has confirmed price has topped or bottomed yet. I can explain exactly what I look for in a confirmation candle if you're interested. I thought I'd run this by steve being the master programmer that he is. Ronald Raygun says it's very difficult to program a divergence EA but thought you might have some ideas on the subject. Maybe an EA that you turn on when you see divergence and then the EA's job would be to decide whether the next candle qualifies as a confirmation candle. In short, my confirmation candle has to be red with no long tail (pin bar in appearance) on the bottom for a sell trade and green with no long tail on the top for a buy trade. Confirmation candle must also have a lower RSI value than the previous candle for a sell and higher value for a buy. Beware of long confirmation candles since price has already retraced a good ways. See charts below. Charts are blown up so you can see them easier but always show 4 weeks of data on a chart.
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  • #150
  • Jul 26, 2010 1:41am Jul 26, 2010 1:41am
Quoting Toothman
Since Bob's brought up divergence, wouldn't it be a nice addition to this strategy to come up with a #5 EA( I know #4 is being tested) that would trade when divergence is spotted. I'm a true believer in RSI divergence. First off, I won't trade divergence that's older than 5 days on a 4HR chart. I like to wait until Bob's red, white and blue are at extremes and price is in top or bottom 1/3 of chart....
Actually Toothman is a better and more patient trader than I am. I love getting in and then getting my self out of jams for getting in too early. I should go play and let you properly teach the system In fact I would invite you to post your best trade of the day or week. You need to teach more, you are a good trader.
  • #151
  • Jul 26, 2010 4:05am Jul 26, 2010 4:05am
Quoting Toothman
Since Bob's brought up divergence, wouldn't it be a nice addition to this strategy to come up with a #5 EA( I know #4 is being tested) that would trade when divergence is spotted. I'm a true believer in RSI divergence.
Indeed, coding a complete divergence auto-trader is problematic, although if you would care to pm me with details I can give it some thought.

Coding something to simply lurk in the undergrowth and then pounce when its prey is nice and fat and close, is different.

Once you see your buy/sell setup, drag the appropriate ea onto the chart. From here it will:

 

  1. monitor the direction and length of the current candle - there is a MinimumCandleLength input so you can specify the minimum candle length before the pounce.
  2. monitor the direction of Rsi - the input is RsiPeriod.
  3. send the trade once the criteria have been met.

Test this on demo first. I say the ea will do ...... but what I mean is, the ea should do ........ This ought to be the easiest coding in the world but I am an idiot.

Go birdy if there is anything wrong or you want further enhancements.

Attached File(s)
File Type: mq4 #7 BUY 25 BB after divergence by Steve Hopwood.mq4   6 KB | 486 downloads
File Type: mq4 #8 SELL 25 BB after divergence by Steve Hopwood.mq4   6 KB | 443 downloads
  • #152
  • Jul 26, 2010 5:40am Jul 26, 2010 5:40am
Thanks Bob. Your compliments are over the top. I wish I was half the trader you are. Especially the way you can wiggle out of jams. I may have some wiggling to do myself with the five positions ( some I got into too early) I've opened with the new system last week.
  • #153
  • Jul 26, 2010 5:43am Jul 26, 2010 5:43am
Stop moved to BE on this trade - see how far it goes..

Attached Image (click to enlarge)
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Are you treadstone?
  • #154
  • Jul 26, 2010 5:44am Jul 26, 2010 5:44am
Steve, your something else. Will give these EA's a try on demo.Thanks much. Having you team up with N. Bob is really exciting. Glad you're here.
  • #155
  • Jul 26, 2010 6:15am Jul 26, 2010 6:15am
hi Bob, Steve...last evening I had at least 4 sell ea's on different charts when the price was close to the upper BB, but none of them ever kicked in an order? I finally made a manual trade on GBP/USD before retiring to bed..I am using MB Trading ECN MT4, would that be the problem..
Thanks again for all the efforts al you guys put in teaching us wannabes..
  • #156
  • Jul 26, 2010 6:33am Jul 26, 2010 6:33am
Quoting SteveHopwood
Indeed, coding a complete divergence auto-trader is problematic, although if you would care to pm me with details I can give it some thought.

Coding something to simply lurk in the undergrowth and then pounce when its prey is nice and fat and close, is different.

Once you see your buy/sell setup, drag the appropriate ea onto the chart. From here it will:
[list][*]monitor the direction and length of the current candle - there is a MinimumCandleLength input so you can specify the minimum candle length before the pounce.[*]monitor the direction...
Steve,
A few things about these EA's. How hard would it be to get EA's to monitor the next candle instead of the current? You would want EA to kick in at the close of the next candle if it is a valid confirmation candle. Minimum length is not important, it's max. length that I look at. Too long of a confirmation candle makes the trade riskier. Are these EA's as is able to determine if candle has long wick on the top or bottom giving it a pin bar appearance? That's very important. The buy EA would have to look at the wick length on top the confirmation candle and the sell EA would have to look at the wick length on the bottom of the confirmation candle. Long wick on top of confirmation candle for a buy is a no trade. Long wick on the bottom for a sell setup is a no trade. I would describe a long wick as being 50% or more as long as the total length of the candle. If that % variable was adjustable that would be good. Bob, let me no if I'm cluttering the thread, but I wanted you to see what I was thinking also. Can go to PM'ing Steve if you want me to. Thank you
  • #157
  • Jul 26, 2010 6:42am Jul 26, 2010 6:42am
Quoting Toothman
Steve,
A few things about these EA's. How hard would it be to get EA's to monitor the next candle instead of the current? You would want EA to kick in at the close of the next candle if it is a valid confirmation candle. Minimum length is not important, it's max. length that I look at. Too long of a confirmation candle makes the trade riskier. Are these EA's as is able to determine if candle has long wick on the top or bottom giving it a pin bar appearance? That's very important. The buy EA would have to look at the wick length on top the confirmation...
Easy to do, Toothman. I cannot do it straight away - I am going out soon and will not be home for several hours. The candle wick thingy is a part of the AshFx robot, so I will do this later on.

I am going to add a safety feature to all the ea's. On load up, they will ask for confirmation that the user wants to go ahead. This will be annoying but allows me to program in an ea closedown feature once a trade has been sent successfully. Then, if the bot is re-initialised through a platform/system crash, it will not immediately start looking for trades afmoif the original has closed.

  • #158
  • Jul 26, 2010 6:43am Jul 26, 2010 6:43am
Quoting Jason Bourne
Stop moved to BE on this trade - see how far it goes..

Attachment
Me too - using mptm with a js of 50 and BreakEvenProfit of 2.

3 open trades, all in positive and a cheery looking number of positive pips.

Pleasant.

  • #159
  • Jul 26, 2010 6:46am Jul 26, 2010 6:46am
Quoting sfg7th
hi Bob, Steve...last evening I had at least 4 sell ea's on different charts when the price was close to the upper BB, but none of them ever kicked in an order? I finally made a manual trade on GBP/USD before retiring to bed..I am using MB Trading ECN MT4, would that be the problem..
Thanks again for all the efforts al you guys put in teaching us wannabes..
This will happen. If the market does not quite match the robot's trading conditions, then it cannot take the trade. There will be times when manual intervention will be necessary.

One way around this is to build in a 'tolerance level' so that the market only has to come within x pips of the band to trigger the trade. I will leave things as they are for now, as Bob is still tweaking the triggers.

  • #160
  • Jul 26, 2010 9:27am Jul 26, 2010 9:27am
Hi Steve...Please tell me which MPTM indicator/EA to use and the proper settings...The ones I had attached to my chart kept closing out the trades (.01 lots) at .10/.12 cents (couple pips)

Thanks in advance
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