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Nanningbob 4h trading system ver. 5.0

  • #1,001
  • Aug 23, 2010 5:40pm Aug 23, 2010 5:40pm
Lets all play waddle in the mud. Not much happening so here goes. Aud election news was a dud, welcome to news trading folks. I am in lots of trades going nowhere. Sorta.
RESULTS
Cad/chf +25
chf/jpy +35
gbp/chf +25
nzd/jppy +42
nzd/usd +25
currency pair and EA for now (you can figure out if it is a buy or sell)
aud/jpy 1
aud/usd 1
eur/JPY 7
eur/usd 2 or 7
gbp/JPY 7
GBP USD 1
NZD/JPY 1
NZD/USD 1
STILL IN
aud/cad -31
aud/nzd -280 2L -25
cad/chf -41
cad/jpy -105
eur/chf -256 -51
eur/gbp -21
eur/jpy -145
eur/usd -107
gbp/cad +5
gbp/jpy -104
nzd/jpy -17
nzd/usd -186 -60
usd/cad -39
usd/jpy -7

TOTALS
total for day +152
 for the week + 152
 for the month + 3573
 Carry over - 1470

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[/quote]
  • #1,002
  • Aug 23, 2010 5:45pm Aug 23, 2010 5:45pm
Q. i'd just like to ask if i may, from my limited understanding you only take a loss if you close out a level if u go multi-level. For eg you open L1-L2-L3 and are finally able to close at BE. Do you men to say you had 10 losses means trades which went multilevel before you closed at BE?



There are two times you take losses.
1. around 4-500 pips level 1 only
2. when a loss is counter traded with profit trade/trades so you zero them out. I may use the same currency pair or the profits of other pairs to do this.

Those are when I close losing trades.
  • #1,003
  • Aug 23, 2010 5:55pm Aug 23, 2010 5:55pm
aud usd showing secondary trade area
cad chf showing #3 EA trade area.

Good luck.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: aud usd.gif Size: 30 KB
Click to Enlarge Name: cad chf.gif Size: 41 KB
  • #1,004
  • Aug 23, 2010 6:15pm Aug 23, 2010 6:15pm
Quoting nanningbob
Lets all play waddle in the mud. Not much happening so here goes. Aud election news was a dud, welcome to news trading folks. I am in lots of trades going nowhere. Sorta.
The markets were very quiet today. I have been browsing the other threads (VSA, TRENDS, SCALPERS, etc) and the verdict is that this is some sort of quiet before the storm. Some people are nervous, but nanningbob`s counter trend traders are pretty relaxed with the knowledge that what goes up must come down or what goes down must go up.

Bob, how is your experiments with 1,1,3,3, system progressing? Have you ever considered 1 lot entry every 100 pip and if you have what are the merits and the draw backs of such an approach.

Kind regards
  • #1,005
  • Aug 23, 2010 6:31pm Aug 23, 2010 6:31pm
Quoting astral77
Some people are nervous,
I have never understood this. I read people writing, "I am afraid of......", or, "I am nervous about.....", etc.

Frankly, if people are, 'nervous', or, 'afraid' etc then I am not sure why they are trading forex. Hell's Bells: dem markets dey go up; den day come down; den dey go up again; den dey come down again. Can't be that difficult to grasp, surely?

Like scoobs always says, traders need BOS. If they haven't got BOS, then I suggest that said traders find something softer to occupy their time. Proof-reading the latest kiddies beginner-reading book, for example. Perhaps not - might contain a two-syllable word by accident, that they cannot cope with.

  • #1,006
  • Aug 23, 2010 11:07pm Aug 23, 2010 11:07pm
Quoting arbinka
Thank you Steve I appreciate it very much!
No, thank you Arbinka!

cheers
f451
  • #1,007
  • Aug 23, 2010 11:40pm Aug 23, 2010 11:40pm
I'm looking for a breakeven calculator over the internet but I cannot find one. I want to use it if I have 3 level trades but I want to BE the L1 and L3 only. Ibreakeven and Iexposure will show BE for all the open trades but not if I want to BE only 2 trades.

I created one simple calculator but I myself is not confident enough to use as it's not yet tested and proven correct. So if anyone of you knows a better Breakeven Calculator, please share. Thanks.
Attached File(s)
File Type: xls Breakeven Calculator.xls   14 KB | 506 downloads
  • #1,008
  • Aug 23, 2010 11:54pm Aug 23, 2010 11:54pm
Quoting luiboy
I'm looking for a breakeven calculator over the internet but I cannot find one. I want to use it if I have 3 level trades but I want to BE the L1 and L3 only. Ibreakeven and Iexposure will show BE for all the open trades but not if I want to BE only 2 trades.

I created one simple calculator but I myself is not confident enough to use as it's not yet tested and proven correct. So if anyone of you knows a better Breakeven Calculator, please share. Thanks.
Just add selling/buying price of L1 to the one of L3, divide by 2 and add/subtract the spread.

Formula: ( (L1+L3)/2) + Spread) for a buy
( (L1+L3)/2) - Spread) for a sell

Simple averaging calculation.
"The only successful substitute for brains is silence."
  • #1,009
  • Aug 24, 2010 12:20am Aug 24, 2010 12:20am
Quoting DXTrade
Just add selling/buying price of L1 to the one of L3, divide by 2 and add/subtract the spread.

Formula: ( (L1+L3)/2) + Spread) for a buy
( (L1+L3)/2) - Spread) for a sell

Simple averaging calculation.
This is only true for trades with the same lot size.
  • #1,010
  • Aug 24, 2010 12:31am Aug 24, 2010 12:31am
Quoting luiboy
This is only true for trades with the same lot size.
True!

So if you have 0.3 lots of L1 and 0.5 lots of L3 its:
((3 x L1) + (5 x L3))/8... I think!
"The only successful substitute for brains is silence."
  • #1,011
  • Aug 24, 2010 12:43am Aug 24, 2010 12:43am
Quoting DXTrade
True!

So if you have 0.3 lots of L1 and 0.5 lots of L3 its:
((3 x L1) + (5 x L3))/8... I think!
Sweet! This is simpler than I thought. Thanks!
  • #1,012
  • Edited 3:24am Aug 24, 2010 3:07am | Edited 3:24am
Holy cow....
I wasn't worried about drawdown... but now if I total my EURJPY, USDJPY, CADJPY and EURUSD drawdown... will the yen pleeeaaase get a bit less strong?
Now?
"The only successful substitute for brains is silence."
  • #1,013
  • Aug 24, 2010 3:55am Aug 24, 2010 3:55am
Quoting ES Trader
Thanks antonioforex,

You beat me to it. Yes this Ea seem to be best to create renko chart.
I will respect Bobs intention not to discuss more about Renko here. Will try to contribute more when he opens another thread.

Thanks


Thanks for the renkos ES Trader, antonioforex, and CanuckCT.
  • #1,014
  • Aug 24, 2010 3:56am Aug 24, 2010 3:56am
Quoting DXTrade
Holy cow....
I wasn't worried about drawdown... but now if I total my EURJPY, USDJPY, CADJPY and EURUSD drawdown... will the yen pleeeaaase get a bit less strong?
Now?
Not just the above pairs but all of them, it is our friends at BOJ manipulating the YEN once again. If Scoobs is reading this I am sure he would enlighten us as to the rationale behind it. IMHO if it was just one pair it may be a permanent move but since it is across the board, soon we should see a reversal. This is my guess anyhow, I stand to be corrected.

Anyhow, it is a good time to practice our 2-4-2 skills. Keep the faith. All the best

Kind Regards
  • #1,015
  • Aug 24, 2010 4:19am Aug 24, 2010 4:19am
I see a lot more setups today.

  • #1,016
  • Aug 24, 2010 4:23am Aug 24, 2010 4:23am
I can see greens with the Yen already. Shall we turn on EA#2 already?
  • #1,017
  • Aug 24, 2010 4:37am Aug 24, 2010 4:37am
Quoting luiboy
I can see greens with the Yen already. Shall we turn on EA#2 already?
For what it is worth, I have #2 Buy on just about everything with JPY in it.

  • #1,018
  • Aug 24, 2010 4:39am Aug 24, 2010 4:39am
Quoting SteveHopwood
For what it is worth, I have #2 Buy on just about everything with JPY in it.

Me too.... but although it's just micro lots... I'm still scared...
"The only successful substitute for brains is silence."
  • #1,019
  • Aug 24, 2010 4:55am Aug 24, 2010 4:55am
Quoting astral77
Not just the above pairs but all of them, it is our friends at BOJ manipulating the YEN once again. If Scoobs is reading this I am sure he would enlighten us as to the rationale behind it. IMHO if it was just one pair it may be a permanent move but since it is across the board, soon we should see a reversal. This is my guess anyhow, I stand to be corrected.

Anyhow, it is a good time to practice our 2-4-2 skills. Keep the faith. All the best

Kind Regards
As the US dollar is also continuing to gain, think the Yen strength may be due more to money flowing into perceived safe havens rather than BOJ intervention.

Scoobs will know for sure ...
  • #1,020
  • Aug 24, 2010 4:56am Aug 24, 2010 4:56am
All students at this class should sit and practice the method

Will the markets break Bob's student accounts or we'll BE

GL
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