Nanningbob 4h trading system ver. 5.0 | Page 48 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Nanningbob 60x90 EA 3,920 replies

NanningBob's 4H Sellhigh BUYLOW 158 replies

Help regarding NanningBob EA 27 replies

Nanningbob 4H trading system 2,017 replies

Help to improve profitable EA - 1H NanningBob 40MA 200 BB 10 replies

Attachments: Nanningbob 4h trading system ver. 5.0
Exit Attachments

Nanningbob 4h trading system ver. 5.0

  • #941
  • Aug 21, 2010 2:22pm Aug 21, 2010 2:22pm
Hi Folks

A comment about the effect of screen size.

I use a wide screen laptop at work. When I get home I connect a 2nd 17" square LCD and move the platform onto it so I can read this thread on the laptop screen.
After much confusion when analysing my entry points the next day I realised that the square monitor only showed 3 and a half weeks while laptop showed the same as Bob's and thus I entered some trades way to early.

The indi with the fixed bars from the autotrader fixed this for me.

Comment about Huggie trade.
Someone in an earlier post asked about trading with a Huggie.
I tried to second guess Bob's advice on staying away from huggies and traded in the direction of the huggie. Worked well 3 times. 4th time I broke another rule and entered with 4 lots (normally play 1 lot) on AUDCHF. (Stupid Stupid Stupid....) I was at -300pips on this one trade. It turned on my entry point.

Long story short. I applied the 242 recovery concept on this pair with 4 Others at 2 lots on each pair to spread the risk , I have broken even with 10pips profit.

So to all the newbies, learn the 242 recovery system, Become one with it and your trading mistakes will become valuable lessons and not excruciating pain.

Thank you Bob. I am forever in your debt.

PS my 7 year old and 11 year old sons generate their pocket money using your system. They are averaging $200 a week off of a $1000.00 account each.
  • #942
  • Aug 21, 2010 2:44pm Aug 21, 2010 2:44pm
Quoting ES Trader
Scottyds,

"The indi with the fixed bars from the autotrader fixed this for me."

Can you tell me exactly what you mean by this statement ?

Thanks

I have same problem when switching from desktop to laptop
Hi ES Trader.

I run the NB5 Auto trader that SteveHopwood has created as well. (Found Here http://www.forexfactory.com/showthread.php?t=248297)

The sixths indicator uses a fixed number of bars and not viewable screen width (Steve and co please keep me honest here) so when I switch screens the gold lines remain in the same position no matter the resolution of the monitor.

Hope this helps
  • #943
  • Aug 21, 2010 2:57pm Aug 21, 2010 2:57pm
Quoting ES Trader
I have been testing out Nanningbob's system using 50 pip renko chart which of course has fixed pips and not time based. Looks great on chart and few trades I made seem to result in lots of pips.

I am hoping to get comments from Steve or Bob. If this is not the forum I should be discussing using renko with Bob's system I will remove it.
And I think your draw down would be a is a lot less before you get into profit (because of the nature of the bars).... could you confirm?
  • #944
  • Aug 21, 2010 3:12pm Aug 21, 2010 3:12pm
This might be one of the smartest thing your could do! Imagine when they are 25 years old...what they will have learned about trading forex....just about the time they graduate from college/university that they have paid for from their own trading.
Cheers
CanuckCT

Quoting scottyds

PS my 7 year old and 11 year old sons generate their pocket money using your system. They are averaging $200 a week off of a $1000.00 account each.
  • #945
  • Aug 21, 2010 3:33pm Aug 21, 2010 3:33pm
Quoting nanningbob
FX Solutions is doing a scheduled update on their systems so right now I do not have access to my trade information. Had a nice final day though so will report sometime Sunday when the update is done.

Thanks for all the compliments and results, glad to hear everyone seems to be catching on. We opened school Friday and things went smoothly but I am short teachers this year. So I have to teach a class all day until we find one.
My daughter just graduated with a teaching degree but don't think she wants that far of a commute.
  • #946
  • Aug 21, 2010 3:49pm Aug 21, 2010 3:49pm
Using range bars would be another interesting experiment. I belong to another group that uses these charts and they are very effective.

http://www.forexbydesign.com

No affiliation. Just a user. And the current promo price is a good deal. I'm paying full price.
  • #947
  • Aug 21, 2010 4:23pm Aug 21, 2010 4:23pm
Hi ES Trader

I don't have renko bars for MT4, could you post or point me in the right direction?

Thanks
  • #948
  • Aug 21, 2010 5:25pm Aug 21, 2010 5:25pm
Quoting Tread
And I think your draw down would be a is a lot less before you get into profit (because of the nature of the bars).... could you confirm?
YES and NO. It depends on the size of the bar. Usually it is double the size of the bar. If one has 50 pip renko bar, stop loss need be around 100 pips. But the best thing is when the trend turns around after 100 pip loss it seem to continue for a while.

Of course there is no sure thing in trading.
  • #949
  • Aug 21, 2010 6:01pm Aug 21, 2010 6:01pm
Quoting ES Trader
I have been testing out Nanningbob's system using 50 pip renko chart which of course has fixed pips and not time based. Looks great on chart and few trades I made seem to result in lots of pips.

I am hoping to get comments from Steve or Bob. If this is not the forum I should be discussing using renko with Bob's system I will remove it.
I have looked at Renko bars but so far have not found a system that works on my computer. I have had issues with every indicator I have found. Can you post yours?
  • #950
  • Aug 21, 2010 6:02pm Aug 21, 2010 6:02pm
Quoting ES Trader
Of course there is no sure thing in trading.
Not quite true, although I am only having a bit of fun here and not being in the least bit critical.

Sure thing in trading no 1: there will be losers.

Anybody got a no x?

  • #951
  • Aug 21, 2010 6:06pm Aug 21, 2010 6:06pm
Quoting Toothman
My daughter just graduated with a teaching degree but don't think she wants that far of a commute.
Well if she cant find a job tell her to give us a call.
  • #952
  • Aug 21, 2010 6:09pm Aug 21, 2010 6:09pm

PS my 7 year old and 11 year old sons generate their pocket money using your system. They are averaging $200 a week off of a $1000.00 account each.

I think they should take over for me. I only average over 100 a week on a 2000 account. I think I am a better teacher than a trader.
  • #953
  • Aug 21, 2010 6:10pm Aug 21, 2010 6:10pm
I have a good renko indicator on my office PC...will post it Monday.
Cheers
CanuckCT

Quoting nanningbob
I have looked at Renko bars but so far have not found a system that works on my computer. I have had issues with every indicator I have found. Can you post yours?
  • #954
  • Aug 21, 2010 6:12pm Aug 21, 2010 6:12pm
#7 screen and EA are my latest answer to huggie trades. If you have a runup on the BB then switch to the #7 screen and see if you get a better read. It still has the regular BB lightly imprinted with it and if you see a separation from the BB on it you can still use the #2 EA.
  • #955
  • Aug 21, 2010 6:17pm Aug 21, 2010 6:17pm
Don't get me wrong, the 2,4,2 recovery system usually gets you out of trouble with not too much of a loss. But using this latest version 5 it looks like Aug. of 2008 and again in Dec. of that year (for the EUR/USD) you would have had to close a L1 trade and then close out everything later as price continued to run. Same thing happened in Dec. of that year with the GBP/USD. I'm calculating that when you close a L1 and then are forced to close out everything later when price continues to run, you lose in excess of 2600 pips. That's with a 200 pip step and a 1.5 multiplier.
MacMan and I were talking awhile back about how he was demo testing a strategy of hedging when you get, say 500 pips down on your L1 trade . He then removed the hedge when the hedged trade returned to BE. Problem is, price may never return to BE or it might take months to do this.
Tell me what you guys think of this idea. When you have a L1,2,and 3 trade going and L3 goes 200 pips down. Place a hedge trade at this point with a lot size that would double the lot size of all open orders. Example, L1 lots are .01,L2- .02 and L3- .03 for a total of .06 lots so your hedge trade would be .12 lots. Set TP to 50 or 100 and SL somewhere around BE. When you TP, open another hedge with same SL and TP. price wouldn't have to move near as far to BE since you're using the higher lot size. You'd have to watch your margin of course. Best case scenario, price would continue to run in the direction of the hedge, you get a series of profits to get you to BE with all trades and you're out. Worst case scenario, price keeps getting you into the hedge trade and reversing to BE so you lose some spread and swap. This strategy looks like it would get you out at BE in less than a week in Dec. with the EUR/USD. Aug. would take you around three weeks. Is my thinking flawed? Maybe someone has a similar idea or a different way of using a hedge trade. Any thoughts? thanks
  • #956
  • Aug 21, 2010 6:18pm Aug 21, 2010 6:18pm
Steve uses a sixth indicator for his auto trading EA which stays constant regardless of the screen zoom or resolution. Do you think due to the sensitivity of the sixth indicator it would be better to use this indicator.

We found out in the 60x90 thread to program the sixth indi, you have to use a fixed 6th indi to make the EA work. When I tried the fixed indi I added a percentage to the lines so they would match closer to the 4H screen I had but I never made the switch in my live trading. I back test a lot and need the movable lines for my back tests. I am always looking at past action and their relationship to the sixth indi to see what I am doing right or wrong.You have to have flexible indis to back test.
  • #957
  • Aug 21, 2010 6:35pm Aug 21, 2010 6:35pm
Quoting nanningbob
Steve uses a sixth indicator for his auto trading EA which stays constant regardless of the screen zoom or resolution. Do you think due to the sensitivity of the sixth indicator it would be better to use this indicator.

We found out in the 60x90 thread to program the sixth indi, you have to use a fixed 6th indi to make the EA work. When I tried the fixed indi I added a percentage to the lines so they would match closer to the 4H screen I had but I never made the switch in my live trading. I back test a lot and need the movable...
Bob, did you see this post? http://www.forexfactory.com/showpost.php?p=3962545

This might be a help with back-testing.

  • #958
  • Aug 21, 2010 7:07pm Aug 21, 2010 7:07pm
If some of you are wanting to pursue Renko bars we will need ot start a new thread otherwise we will confuse the heck out of the newer traders to this thread. I am interested in having Renko based MA and BB. It is no telling what that would lead to and that cant be done here.
  • #959
  • Aug 21, 2010 7:09pm Aug 21, 2010 7:09pm
I see my live trades are back up at FXSol but my closed trades are not. SO I will have to post Fridays results later. I am off to work, our first full day of school is Monday so busy busy busy. I will try to peak in now and then.

Right now my ego is badly damaged knowing 7 and 11 years are doing better than I am.
  • #960
  • Aug 21, 2010 7:20pm Aug 21, 2010 7:20pm
Quoting Toothman
Don't get me wrong, the 2,4,2 recovery system usually gets you out of trouble with not too much of a loss. But using this latest version 5 it looks like Aug. of 2008 and again in Dec. of that year (for the EUR/USD) you would have had to close a L1 trade and then close out everything later as price continued to run. Same thing happened in Dec. of that year with the GBP/USD. I'm calculating that when you close a L1 and then are forced to close out everything later...
I have been wanting to do a rewrite of my 2.4.2 but just havent had the time. I have been using a new formula which is dynamite and works great. In the last year I have gone level 1 closes an average of 1-3 a month. I think I have done one time a L2 close. So my new numbers are 1,1,3,3. L1 is one lot or equivelant, L2 is the same lot size, you need a 50% retrace to BE then L3 you go with the 3x size since I have never did a L3 close I think it would be safe to load up. You would need less than a 50% retrace to L2 to get to BE. The fourth L would be a 3 also. I have not gone to L5 using this yet so not sure what I would do maybe another 3 looking for 100% retrace to L4 to get L3-5 to BE. So I am now using a 1,1,3,3 and that has kept my DD lower and my loss on L1 lower. Just thought I would let you know my latest development. Bye bye gotta go work.
0 traders viewing now