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Nanningbob 4h trading system ver. 5.0

  • #1,401
  • Sep 2, 2010 7:42pm Sep 2, 2010 7:42pm
guys....plz explain me the following...

why i have that big loss in total?
is this with spread?

these are my first live trades....so excuse me if i ask for 'shit' : p
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Hero calls followed by margin calls...
  • #1,402
  • Sep 2, 2010 7:53pm Sep 2, 2010 7:53pm
Dude .... WRONG LOTS SIZES!!! ...?

This Thread

http://www.forexfactory.com/showthre...ze#post3984583

http://www.forexfactory.com/showthre...ze#post3983791

http://www.forexfactory.com/showthre...ze#post3983181
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  • #1,403
  • Sep 2, 2010 9:28pm Sep 2, 2010 9:28pm
[quote=Toothman;3996514]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.

- - - - - -

Toothman,

You guys have been in this business long time before I do. I guessed I have to follow what you say. Although there were times that I am successfull, most often it leads me to trouble. Thanks,

Edd
  • #1,404
  • Sep 2, 2010 9:50pm Sep 2, 2010 9:50pm
the MacD divergence arrows that come off of bob's charts on 4H... are they one bar late? i.e. 4 hours.
  • #1,405
  • Edited 10:20pm Sep 2, 2010 10:09pm | Edited 10:20pm
Quoting PhAnTi'
guys....plz explain me the following...

why i have that big loss in total?
is this with spread?

these are my first live trades....so excuse me if i ask for 'shit' : p
PhAnTi,

I suggest a couple of things:

A) tone down the lot sizes
B) leave GBPNZD, and GBPAUD alone for now until you get more experience. My suggestion is stick with the pairs that are less volitile until you get a good grasp.

I would either A) cut my losses now B) close new trades down so I can get out of these guys if they do turn against me

It depends on how many pairs you are trading, but it seems your lot sizes are goofed as well? You have a 1.0, a 1.0 and a 1.5... Confused on that...

Just my 2 cents.

---Oh, and if you think losing 93.00 is bad and you can't do it, then in my opinion trading is going to be a hurdle for you. I do believe that both GBPNZD and GBPAUD are going to retrace soon.

---EDIT 2, I thought I would add this from Bob:

Quote
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
We are our own best indicator.
  • #1,406
  • Sep 2, 2010 10:19pm Sep 2, 2010 10:19pm
Quoting nanningbob
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...
Yes, I wonder if the next regulation will be we have to sit on our heads and greet with Nanu Nanu.

It seems nobody knows what is going on, so waiting is definitely the best idea....
We are our own best indicator.
  • #1,407
  • Sep 2, 2010 11:31pm Sep 2, 2010 11:31pm
Quoting PhAnTi'
guys....plz explain me the following...

why i have that big loss in total?
is this with spread?

these are my first live trades....so excuse me if i ask for 'shit' : p
You lot size is 10 times what it should be. You should be about 9 bucks in the hole for the amount of pips you are down.
  • #1,408
  • Edited 2:59am Sep 3, 2010 1:21am | Edited 2:59am
Quoting nanningbob
eur/gbp 5
gbp/chf 5
gbp/jpy 3
gbp/nzd 3
gbp/usd 1
nzd/cad 1
usd/cad 1

Hi Bob,

could you just shortly explain me why you have the #5 EA on two of the above pairs and not the #4 EA (aside from the distance to the BB)?
I know the #5 EA has a shift in the code that the 3MA of the previous bar has to be above/below the 1MA... does it thus enter a bit earlier than the non-shifted 3MA in the #4 EA?

Both have a MAshift of 1 anyway. Is my suggestion right?

I am still learning the MQL4, so please forgive my noobish question...

Regards,
Oliver
  • #1,409
  • Sep 3, 2010 1:43am Sep 3, 2010 1:43am
Quoting PhAnTi'
guys....plz explain me the following...

why i have that big loss in total?
is this with spread?

these are my first live trades....so excuse me if i ask for 'shit' : p
I agree with what the others have said above.

But one more thing, if this is your first trades with this system i suggest that you use a demo account till you get it right.

Oh Oh and read the instructions plus the first 10 pages again of this thread.

JTH
  • #1,410
  • Sep 3, 2010 1:51am Sep 3, 2010 1:51am
i have a question do we shutdown our trades today or do we carry on as is?

JTH
  • #1,411
  • Sep 3, 2010 3:20am Sep 3, 2010 3:20am
Quoting jth
i have a question do we shutdown our trades today or do we carry on as is?

JTH
I try to shut down as many as possible but I dont take big losses. I left a 57 pip profit on the table last week because I didnt close it before the markets closed. When the market opened the profit gapped to a negative, so I missed that one. I keep my multiple levels but close my profits. Soon after the JPY open many times traders will take their profits and so that is a very nice session for me.
  • #1,412
  • Sep 3, 2010 3:39am Sep 3, 2010 3:39am
Quoting nanningbob
I try to shut down as many as possible but I dont take big losses. I left a 57 pip profit on the table last week because I didnt close it before the markets closed. When the market opened the profit gapped to a negative, so I missed that one. I keep my multiple levels but close my profits. Soon after the JPY open many times traders will take their profits and so that is a very nice session for me.
Hi BOB

can you please expand on the above reply . It has been my understanding that this is 4H TF trading and although it is preferable to close positions during weekends, however, we keep the trades that have not recovered or are in L2, L3. In some cases it may take few weeks for a trade to come back to +ve.

Moreover, I do not know if it is my imagination or it is a fact. It seems the retraces that take place on Fridays are reversed on Monday mornings.

Kind Regards
  • #1,413
  • Sep 3, 2010 3:50am Sep 3, 2010 3:50am
Hi Bob,

I am setting the dashboard up, and I would like to only have the "safest trades" alerted.

Can you confirm, if my assumption is right that the best would be :

RWB lines are all over/under 85/15 values

AND

Price is over/under the top/bottom SIXTHS line. (called P in the dashboard)
(and hereafter touch if BB outer line)

If this would be right as the "best trade", what would your input be on "2. best trades" ?

Thanks a lot

BR

PC
Less is more...
  • #1,414
  • Sep 3, 2010 3:55am Sep 3, 2010 3:55am
i'm sorry but again on lot size:
1 cent every 100 bucks, ok, then
10 cents every 1000 bucks, ok.
then if i trade standard lots:
- 1 pip with 1 st. lot is 10 bucks
-1 pip with 0.1 lots is 1 $
- 1 pip with 0.01 lots is 10 cents ( a dime): here we go for 1000$.

then if i've to trade 0.01 lots every 1000 bucks, with 10000 bucks i'll trade 0.1 st. lots, right?

so phanti' has a 20000 (that is 1000x20) account, then 1 dime every 1000$ means trading 20x0.01 lots then 0.2!

right?
please help me with this stuff because every one says something different!
  • #1,415
  • Sep 3, 2010 4:00am Sep 3, 2010 4:00am
Quoting astral77
Hi BOB

can you please expand on the above reply . It has been my understanding that this is 4H TF trading and although it is preferable to close positions during weekends, however, we keep the trades that have not recovered or are in L2, L3. In some cases it may take few weeks for a trade to come back to +ve.

Moreover, I do not know if it is my imagination or it is a fact. It seems the retraces that take place on Fridays are reversed on Monday mornings.

Kind Regards
I dont like to leave pips on the table. For example I had set the SL at +30 on that trade but the gap went right through it into a -3 trade. So obviously take nice profits. It is a prudent call, If prices have spiked you can ride it out knowing most of the time the gaps will be a spike back. Again you read the charts and go with what looks best for you. Unless based on a huge fundamental move, like interest rate change or a super news story that will last more than a couple of days (NFP tonight is not a super news story) The market over the weekend will act normally. The banks just run all their sells first and then their buys or visa versa from over the weekend. So I take advantage of that at times and open a position or grab my profits. After watching weekend gaps for years you kind of get a feel for them after a while as long as there isnt a super news story running price. The last time I saw price run on gaps was May when Greece was facing bankruptcy. That was a super news story and caused prices to move considerably. Took a loss on that one if you remember.
  • #1,416
  • Sep 3, 2010 5:31am Sep 3, 2010 5:31am
Quoting pipcruiser
Hi Bob,

I am setting the dashboard up, and I would like to only have the "safest trades" alerted.

Can you confirm, if my assumption is right that the best would be :

RWB lines are all over/under 85/15 values

AND

Price is over/under the top/bottom SIXTHS line. (called P in the dashboard)
(and hereafter touch if BB outer line)

If this would be right as the "best trade", what would your input be on "2. best trades" ?

Thanks a lot

BR

PC
That is the definition of primary trade and secondary trade is when price matches (moves back into the same position) as the primary trade. I know you guys love hard and fast rules but the less volatile currencies dont always make it to the top/bottom of the sixths line. The RWB dont quite always make it over the 85/15.

Here are the stats. over 70% of the time price will bounce off of the outer BB of the 25MA on a 4H chart. 20% will break but stay in the previous area of price action and about 10% will run. Guess what, there is no indicator that says, HEY GUYS PRICE IS GOING TO RUN THIS TIME STAY OUT. So no matter what you do you are going to get price runs.

Now there are pairs that arent as volatile and the runs are less severe. (knock on wood for the recent eur/chf pair.) However, they go on 3 week runs and go against you 150 pips a week at a time and give you ulcers instead. At least the Eur/NZD is quick and done with. Drop 1200 pips and come back two days later.

I dont even think about trying to avoid runs anymore I just trade and deal with them as they come. NO FUNDAMENTAL TRADER anywhere predicted the EUR/CHF would go on a 700+ pip run without any major retracement but they will show up after the fact and say. YOU SHOULDNT TRADE AGAINST THE TREND. Now the fundamental trader that gets on my thread and tells me the gbp/jpy will go on a 3 week run and not retrace and it proves to be true will get my undivided attention. Until then I dont follow them too much.
  • #1,417
  • Sep 3, 2010 5:42am Sep 3, 2010 5:42am
Thanks for your answer, have a nice weekend!

BR

PC

Quoting nanningbob
That is the definition of primary trade and secondary trade is when price matches (moves back into the same position) as the primary trade. I know you guys love hard and fast rules but the less volatile currencies dont always make it to the top/bottom of the sixths line. The RWB dont quite always make it over the 85/15.

Here are the stats. over 70% of the time price will bounce off of the outer BB of the 25MA on a 4H chart. 20% will break but stay in the previous area of price action and about 10% will run. Guess what, there is no indicator that...
Less is more...
  • #1,418
  • Sep 3, 2010 6:36am Sep 3, 2010 6:36am
Quoting nanningbob
Now the fundamental trader that gets on my thread and tells me the gbp/jpy will go on a 3 week run and not retrace and it proves to be true will get my undivided attention.

Priceless. This will make me giggle all day.
  • #1,419
  • Sep 3, 2010 8:00am Sep 3, 2010 8:00am
Lol ....with the news today , yer either going to to be laughing all the way to the bank or getting ready to slit ur wrist USD gained 100pips over the CHF and JPY and fell 100 against the CAD...


Good thing for the #3 Bulge buy yesterday
  • #1,420
  • Sep 3, 2010 8:01am Sep 3, 2010 8:01am
Quoting Tread
Lol ....with the news today , yer either going to to be laughing all the way to the bank or getting ready to slit ur wrist USD gained 100pips over the CHF and JPY and fell 100 against the CAD...


Good thing for the #3 Bulge buy yesterday
just beautiful to see the chf falling...

meine augen sind die sterne
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