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Nanningbob 4h trading system ver. 5.0

  • #1,201
  • Aug 29, 2010 8:53am Aug 29, 2010 8:53am
Quoting Toothman
Bob,
Our charts are different but they should be exactly the same. Same broker, same indicators, same settings.On the NZD/CAD my price is below the 6th indicator line. On the EUR/AUD my NB MACD isn't as far down the chart as yours.
My screen shows 4 full weeks plus an extra area yours is showing 3 full weeks plus. Something is shrinking your screen from mine? I need that 4 full week view.
  • #1,202
  • Aug 29, 2010 9:06am Aug 29, 2010 9:06am
Quoting nanningbob

The #3 and #7 EAs are there to catch trades you would miss otherwise because of BB runs. In this pic the bands have run off the screen but with price bouncing off of a support area these are very good trades. So we use MA lines to catch these trades until the BB come back onto the screen. See pic below.
Hi Bob,
Could you clarify for me exactly what moving averages you are using on the various templates? Thanks.
Cheers
CanuckCT
  • #1,203
  • Aug 29, 2010 9:12am Aug 29, 2010 9:12am
Quoting matrixebiz
Hey Bud, here is an indicator I modded to do what you want. Shows Net Pips.
This thing is definitely going into my next update. Great tool, you are going to save me a lot of time. Thank you very very much for this tool.
  • #1,204
  • Aug 29, 2010 9:21am Aug 29, 2010 9:21am
Quoting CanuckCT
Hi Bob,
Could you clarify for me exactly what moving averages you are using on the various templates? Thanks.
Cheers
CanuckCT
That should be in my manual but let me try. You can check each screen under indicators and see the MA. But here goes, I am an old man with many memory lapses. I am glad you didnt ask for the name of my wife. That would have been a toughie. Ok here goes. Actually they are few and very simple.

All BB are 25 MA except #7 which is 25MA shifted 3, I think all charts use the 1MA median
after that
EA #3 4MA high/low
EA #4 & #5 3MA median shifted 1
EA #7 15MA BB shifted 3
  • #1,205
  • Aug 29, 2010 9:25am Aug 29, 2010 9:25am
Thanks Bob...I had been through the manuals...if I missed it there, sorry about that.
Cheers
CanuckCT

Quoting nanningbob
That should be in my manual but let me try. You can check each screen under indicators and see the MA. But here goes, I am an old man with many memory lapses. I am glad you didnt ask for the name of my wife. That would have been a toughie. Ok here goes. Actually they are few and very simple.

All BB are 25 MA except #7 which is 25MA shifted 3, I think all charts use the 1MA median
after that
EA #3 4MA high/low
EA #4 & #5 3MA median shifted 1
EA #7 15MA BB shifted 3
  • #1,206
  • Aug 29, 2010 9:26am Aug 29, 2010 9:26am
Quoting DXTrade
NZDCAD is so slow... it doesn't even exist at Alpari UK
Hi DXTrade.

I am not using Alpari, but maybe you can verify the following with your broker.

I don't have NZDCAD either on my demo account, but for some reason it shows on my live account. I use FXCM. Maybe it's the same with Alpari...
  • #1,207
  • Aug 29, 2010 9:32am Aug 29, 2010 9:32am
Quoting DXTrade
Yes... here you go:
The attached is an EA, not an indicator!
Just take a new chart whatever pair whatever timeframe, put all colors in black and drop the attached EA.
In the settings put your magic number and name.
-1 gives an empty field
Just mark "all history" in the history tab and off you go.

Uli
This is also very helpful. It is kind of neat seeing which EA is doing the best. Great tool thanks. This also will need to go into my next update. I am thinking of breaking my system up into 2 parts. One for beginners and one advanced section.
  • #1,208
  • Aug 29, 2010 9:37am Aug 29, 2010 9:37am
Quoting CanuckCT
Thanks Bob...I had been through the manuals...if I missed it there, sorry about that.
Cheers
CanuckCT
The 25MA BB are based on the 200 MA on the 30M chart or the 100 MA on the 1H. Here is an interesting article from a guy who trades the 100MA and 200MA on the 1H chart, (which would be similar to the 50MA and 25MA on a 4H chart) This should give you some insights into price action as used by another trader.

http://forex.fxdd.com/87565/economic...nd-200-bar-mas

I never stop learning or try to learn from other traders.
  • #1,209
  • Aug 29, 2010 9:56am Aug 29, 2010 9:56am
Quoting Olarion1975
Hi Bob,

I use Alpari UK and according to my chart of EUR/NZD the secondary trade area is already gone because the closing price from Friday is 1.79401.
How can this be??
Does anyone know how this big difference in prices can occur?? Does FxSol have other closing times on Friday?

EUR/NZD
Alpari UK: 1.79401
FxSol: 1.78610

This is 80 pips difference...
  • #1,210
  • Aug 29, 2010 9:59am Aug 29, 2010 9:59am
Quoting Olarion1975
Does anyone know how this big difference in prices can occur?? Does FxSol have other closing times on Friday?

EUR/NZD
Alpari UK: 1.79401
FxSol: 1.78610

This is 80 pips difference...
On a 5 digit broker having 80 pips difference is nothing and common place between retail brokers.

Scoobs.
  • #1,211
  • Aug 29, 2010 10:05am Aug 29, 2010 10:05am
Quoting scooby-doo
On a 5 digit broker having 80 pips difference is nothing and common place between retail brokers.

Scoobs.
Yes ok. But if you compare Bob's chart (post #1193) and mine (post #1200), there is a such a big difference that unfortunately the secondary trade area is already left behind...
  • #1,212
  • Aug 29, 2010 10:10am Aug 29, 2010 10:10am
Quoting Olarion1975
Yes ok. But if you compare Bob's chart (post #1193) and mine (post #1200), there is a such a big difference that unfortunately the secondary trade area is already left behind...
I am sure Steve and many others will tell you that the same EA can give totally different profit/loss figures across different retail brokers.

An example would be BROKER A, they get their pricing from top 10 tier banks but these are not the prices they offer to their retail clients. They add on a percentage margin and then offer that price to their clients. Which ofcourse makes them huge profits and not just the spread etc.

I once compared pricing data from DBFX and CMC. And I was horrified at the differences especially on some volatile currencies.

Some are worse than others.

Scoobs.
  • #1,213
  • Aug 29, 2010 10:16am Aug 29, 2010 10:16am
Quoting scooby-doo
I am sure Steve and many others will tell you that the same EA can give totally different profit/loss figures across different retail brokers.

An example would be BROKER A, they get their pricing from top 10 tier banks but these are not the prices they offer to their retail clients. They add on a percentage margin and then offer that price to their clients. Which ofcourse makes them huge profits and not just the spread etc.

I once compared pricing data from DBFX and CMC. And I was horrified at the differences especially on some volatile currencies....
Thanks for this explanation, Scoobs. Something else that I've learned.

Cheers,
Oliver
  • #1,214
  • Aug 29, 2010 10:16am Aug 29, 2010 10:16am
Quoting Olarion1975
Yes ok. But if you compare Bob's chart (post #1193) and mine (post #1200), there is a such a big difference that unfortunately the secondary trade area is already left behind...
The thing to remember also is that different brokers are on different times as well as different closing times.

I have a few brokerage accounts. They all close at different times and my EA's because of that work differently along with the typical differences between brokers in pricing.

IBFX moves price big time when I am in/out of trades. Forex.com doesn't do that, but they seem to 'hunt' a lot and you will get wider ranges as well as a ton of Requoting. Forex.com stays open longer hours, while IBFX closes down so I get differing trades.
We are our own best indicator.
  • #1,215
  • Aug 29, 2010 10:29am Aug 29, 2010 10:29am
Quoting Olarion1975
Does anyone know how this big difference in prices can occur?? Does FxSol have other closing times on Friday?

EUR/NZD
Alpari UK: 1.79401
FxSol: 1.78610

This is 80 pips difference...
That can be caused for several reasons.
1. Different brokers use different banks and each bank is allowed to quote whatever it is willing to pay for a currency. Brokers get blamed alot for what the banks are doing. They have no control over that.
2. Some brokers do have a delay in reporting price. This is because they bundle trades before they put them on the open market. If you think the open market does penny trades I think your high. They will bundle these small trades and put one big trade on the open market or hedge the difference of all the trades on the open market. This protects their butt in case of big price moves. Some traders mistaken this as the broker trading against you but he doesnt really control the price of the currency. (There is a limit to that statement but I dont want to get into all that). They also delay reporting price so as to cover unusual spikes sent by the banks. Most brokers now filter out the spike however you will sometimes see them get through and you will see a post at FF about how a broker ripped someone off. ECN traders are more vunerable to these spike movements. Why I dont use SL or my SL is 1000 pips away. I avoid these stupid market manipulations.
3. More likely though is they have different closing times for trades and some banks may run their weekend trades sooner than others or stop processing their trades earlier than others. Since I am not in the trade yet I may miss the trade because price may gap first before I get my trade in. So I am not in yet.
Nice to know that if I get in I will have a profit right away though.
4. Anyway that is more NB BS.......

I used to trade IBFX during news times because they delayed their quotes by a couple of seconds and you could see a news move on another broker coming first. I would then enter the trade knowing I would win. IBFX then went to spread widening to cover their butts and I couldnt do that no more. Anyway it is all done by computer program and it is designed to protect the broker/bank from big losses not the investor. I do believe spikes are deliberatly done by banks to clear out all the stop losses so they can get their orders in and then everyone else gets to enter. Whether you think that is fair or not is irrelevant, banks control the price and get first dibs on the trades. Then their customers and then the brokers. The only way to beat them at their game is to catch the spike hitting the BB and if you get in you get that occasional great trade.
  • #1,216
  • Aug 29, 2010 11:14am Aug 29, 2010 11:14am
Quoting nanningbob
My screen shows 4 full weeks plus an extra area yours is showing 3 full weeks plus. Something is shrinking your screen from mine? I need that 4 full week view.
I'm assuming then that you're hiding the navigator as luiboy suggested. When I hide the navigator I see the full 4 weeks.
  • #1,217
  • Aug 29, 2010 1:01pm Aug 29, 2010 1:01pm
Quote
I'm assuming then that you're hiding the navigator as luiboy suggested. When I hide the navigator I see the full 4 weeks.

That's it.
Hero calls followed by margin calls...
  • #1,218
  • Edited 1:17pm Aug 29, 2010 1:03pm | Edited 1:17pm
Quoting nanningbob
4. Anyway that is more NB BS.......
Great, thanks for this information. Very informative.

But what does "NB BS" stand for? NanningBob ... ??

Regards,
Oliver
  • #1,219
  • Aug 29, 2010 1:55pm Aug 29, 2010 1:55pm
Quoting Olarion1975
Does anyone know how this big difference in prices can occur?? Does FxSol have other closing times on Friday?

EUR/NZD
Alpari UK: 1.79401
FxSol: 1.78610

This is 80 pips difference...
An interesting experiment you can try sometime to see differences in brokers:

Before a major news announcement, pull up a few brokers on your screen with the same pair on a 1 minute chart. When the news hits, you will see them react at different speeds and different spreads to the same event.
  • #1,220
  • Aug 29, 2010 4:19pm Aug 29, 2010 4:19pm
Anyone looking at CHFJPY? Seems to be settitng up for shorts...
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