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Nanningbob 4h trading system ver. 5.0

  • #1,381
  • Sep 2, 2010 5:46am Sep 2, 2010 5:46am
Quoting SteveHopwood
I have made a tiny but significant change to mptm. Please read the details at http://www.forexfactory.com/showpost...&postcount=593, and download the update from post 1 in the thread.

You're a Star...
"The only successful substitute for brains is silence."
  • #1,382
  • Sep 2, 2010 5:49am Sep 2, 2010 5:49am
Quoting Toothman
Edd,
You need to keep enough space between trades or you'll get into margin trouble when you have a runner.

-- - - - - - -

I see your point, I appreciated it. On the other hand, I thought of some sort of defensive hedging to capture those pips coming against us. You might even manually close your position and ride on with the trend at a higher lot until it is exhausted and then close it and take your original position. It is another tool ready to be employed at our disposal.

Thanks.
  • #1,383
  • Sep 2, 2010 6:02am Sep 2, 2010 6:02am
Quoting nanningbob
If you dont keep your spacing, like the recent eur/chf run that lasted several weeks you will get into deep doo doo. I solve some of this by only entering part of my original position. I wish I could predict which currencies will run and run without a retrace but that is not possible. So keep your spacing. The first time you have a run and your spacing is not right you will understand those numbers.

- - - - - -

Thank you Bob. I was once in a deep hole, in fact a week ago. I used to do some manual entries that lead me to trouble. It is a nice experienced I guessed, but a painful one. Slowly I am back on track. I need to stick with the rules and with the EAs to be safe.

Cheers,
  • #1,384
  • Sep 2, 2010 6:55am Sep 2, 2010 6:55am
GBPNZD #2 buy?
Hero calls followed by margin calls...
  • #1,385
  • Sep 2, 2010 7:03am Sep 2, 2010 7:03am
Quoting PhAnTi'
GBPNZD #2 buy?
i'm already on it waiting to trigger...
even if the MA looks too much close to the BB...
  • #1,386
  • Sep 2, 2010 7:15am Sep 2, 2010 7:15am
If you guys buy in to the gbp/nzd be prepared to go 250-300 per level on that one. That is one wild currency, but I like playing it even though I got burned bad last May.
  • #1,387
  • Sep 2, 2010 7:17am Sep 2, 2010 7:17am
Quoting bpips
Not sure how the US can make laws that overseas companies have to follow. Is there international penal code I don't think so...
They can and do it quite often (Why do you think brokers in other countries refuse to open CFD or spread betting account for US Citizens). Normally it does not concern the ordinary citizen. They use it to punish companies and people who do business with countries like, Iran, N Korea, etc.

But this is quite BIG BROTHER Style. I do not know of any other country that puts such extraterritorial restrictions on its citizens (not even Communist China)! Our Yankee friends should have a second revolution maybe!!! It is amazing that you can carry Guns and in some states machine guns but you can not have 100:1 leverage with a foreign broker.

Kind Regards
  • #1,388
  • Sep 2, 2010 7:40am Sep 2, 2010 7:40am
Quoting Toothman
Blue,
I'd like to know what they mean by a "trial" account. Maybe it has to make a profit or you lose it at the end of the year?
Well, funny you mention that as I don't know if you have read the new 'law'.

The brokers DO have to disclose the profitability of all accounts now! Profit = Account >= .01 cent

!Profit <= 0

We are our own best indicator.
  • #1,389
  • Sep 2, 2010 8:25am Sep 2, 2010 8:25am
Hi!

Having a lot of experienced in the trading floor, would appreciate very much if you couls help us spot scenarios where and when risk on/off occur, and which currencies prone to this market condition.

Thanks.
  • #1,390
  • Sep 2, 2010 8:58am Sep 2, 2010 8:58am
Quoting Edd Ganuelas
Hi!

Having a lot of experienced in the trading floor, would appreciate very much if you couls help us spot scenarios where and when risk on/off occur, and which currencies prone to this market condition.

Thanks.
Bob separates pairs by their volatility
Hero calls followed by margin calls...
  • #1,391
  • Sep 2, 2010 9:07am Sep 2, 2010 9:07am
eur/gbp looks good for ea #1...
meine augen sind die sterne
  • #1,392
  • Sep 2, 2010 9:12am Sep 2, 2010 9:12am
I like to try this great system manually without the EA. Can someone direct me to the page or post? So far went through tens of pages but nowhere i can see where the focus is on manual trading..
Thanks in advance..
  • #1,393
  • Sep 2, 2010 9:30am Sep 2, 2010 9:30am
Quoting The7
I like to try this great system manually without the EA. Can someone direct me to the page or post? So far went through tens of pages but nowhere i can see where the focus is on manual trading..
Thanks in advance..
actually you can trade manually by just reading the documents(ms word document) in the zip files(refer to page1).. it tells when to enter.. or how the system works..

you can also read the cheat sheet, so which ea to choose and from that same cheat sheet.. you can know when to enter the trade manually..

ps: that is what im doing
  • #1,394
  • Sep 2, 2010 9:31am Sep 2, 2010 9:31am
Quote
actually you can trade manually by just reading the documents in the zip files.. it tells when to enter.. or how the system works..

you can also read the cheat sheet, so which ea to choose and from that same cheat sheet.. you can know when to enter the trade manually..

ps: that is what im doing

This.

Quote
EurGBP #1 EA....

hmm let's see whether price hits bb, just set trade manually
Hero calls followed by margin calls...
  • #1,395
  • Sep 2, 2010 9:35am Sep 2, 2010 9:35am
Quoting PhAnTi'
This.
hmm let's see whether price hits bb, just set trade manually
i usually cross check with lower time frame's RWB lines and also the D1.. before i go in.. just in case if its a little HUGGIE ..

on another matter.. any "useful" information regarding tomorrow's usd announcement eg nonfarm/unemp rate and so on ?
  • #1,396
  • Edited 12:36pm Sep 2, 2010 10:13am | Edited 12:36pm
GBPNZD #2 Buy...not triggered yet?!

got it
Hero calls followed by margin calls...
  • #1,397
  • Sep 2, 2010 12:37pm Sep 2, 2010 12:37pm
Quoting Edd Ganuelas
-- - - - - - -

I see your point, I appreciated it. On the other hand, I thought of some sort of defensive hedging to capture those pips coming against us. You might even manually close your position and ride on with the trend at a higher lot until it is exhausted and then close it and take your original position. It is another tool ready to be employed at our disposal.

Thanks.
Edd,
If you do a search of this thread there have been a few ideas on hedging with this strategy. Hedging can get you into deeper dodo though. You can hedge your runner trades and come back later and deal with them as Bob has suggested. If the trade keeps running you may end up with dangler trades that will never see the price again so you end up taking the loss on them anyway. I keep toying with the idea of making a hedge trade at the point where L3 is down 200 pips. Double your lots on your hedge trade(ex. L1=.01 lots,L2=.02 lots,L3=.03 lots for a combined .06 lots so your hedge would be .12 lots) so that your hedge doesn't have to run too far to clean up L1,L2, and L3. You would have to take profits along the way and keep reopening another hedge. Trouble with this is that price could bounce around right when you start hedging and run up losses. I'm sure there is a math major out there that could calculate the safest way to do this if there is one. Might be best to just use the 242 or 113 and if price continues to run take your lumps and move on.
  • #1,398
  • Sep 2, 2010 3:47pm Sep 2, 2010 3:47pm
One of my brokers says the rules don't apply to them because they are a pure STP broker. Another one says they are moving offshore and told me the new rules won't apply to existing accounts. It is hard to know the truth.

I can see why Steve calls them all criminals.
  • #1,399
  • Sep 2, 2010 5:22pm Sep 2, 2010 5:22pm
Dud day. Not much happened. Got rid of two negative trades now we wait to see what happens next.
RESULTS
Aud/cad +26
aud/nzd +4
cad/chf -234
chf/jpy +20
eur/aud +30
nzd/usd -51

currency pair and EA for now (you can figure out if it is a buy or sell)
aud/jpy 1
chf/jpy 1
eur/gbp 5
gbp/chf 5
gbp/jpy 3
gbp/nzd 3
gbp/usd 1
nzd/cad 1
usd/cad 1

STILL IN
aud/cad -252 -191
aud/nzd -96
aud/usd -65
cad/chf -234 L2 -20 I closed the L2, too close to L1 this is new L2
eur/chf -231 +12
Eur/gbp -75
gbp/aud -115
gbp/jpy +7
nzd/chf -19
usd/chf -12

TOTALS
total for day -205
 for the week +901
 for the month + 365
 Carry over - 1292

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
  • #1,400
  • Sep 2, 2010 5:29pm Sep 2, 2010 5:29pm
Quoting Dewey McG
One of my brokers says the rules don't apply to them because they are a pure STP broker. Another one says they are moving offshore and told me the new rules won't apply to existing accounts. It is hard to know the truth.

I can see why Steve calls them all criminals.
Its not the brokers being criminals here. This is all reaction to USA govt regulation. They have turned the Forex market upside down and you cant blame the brokers for what is happening next. These regulations are coming out every 6-9 months and they have millions and millions invested. I wouldnt want to start a business with millions of dollars on the line in an industry where regulators are just going bananas right now. Most of these regulations have very little to do with protecting investors as they have with forcing people to trade a certain style. In my opiniion a small group of very powerful investors/traders/firms want to make sure everyone is trading a certain way so they can control the market. We can all write our Reps but they gave power to this small group of regulators and now they are controling your trading method. I will wait and see how all this shakes out before I decide what to do next.
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