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Nanningbob 4h trading system ver. 5.0

  • #1,461
  • Sep 5, 2010 2:49pm Sep 5, 2010 2:49pm
Quoting scooby-doo
Steve,

Have you looked at trading them ALL out if their combined profit is greater than percentage of your trading balance ?

I dont know without doing the stats but you may find that this keeps the DD even lower.
As it happens, yes I have, but I rarely have enough trades open at one time to make this a possibility. Two or three are the usual maximum. The outstanding position is a rarity.

I tend to only ever have a tiny number of trades open because I do what Bob says, not what he does.

There is more likelyhood of a basket of trades reaching x% of profit now that I have adopted Bob's 40:30 mptm setting. Frankly, if a basket of trades hit +1% of balance, I would close it like a shot.

Thanks anyhow. If I had not thought of this, I would have been immensely grateful.

So, I am saving the empties for a dipstick.

  • #1,462
  • Sep 5, 2010 2:58pm Sep 5, 2010 2:58pm
Quoting SteveHopwood
As it happens, yes I have, but I rarely have enough trades open at one time to make this a possibility. Two or three are the usual maximum. The outstanding position is a rarity.

I tend to only ever have a tiny number of trades open because I do what Bob says, not what he does.

There is more likelyhood of a basket of trades reaching x% of profit now that I have adopted Bob's 40:30 mptm setting. Frankly, if a basket of trades hit +1% of balance, I would close it like a shot.

Thanks anyhow. If I had not thought of this, I would have been...
Enough said. I was just checking.

However, it would become apparent if you adapted the system using H1 x 120, i.e. a 5 day low or high being broken. But i am running a seperate test on that this week. Not saying it will have legs as I think I will end up with too many trades across multiple currencies but we will see.

Save the empties for the "US Citizens wont be allowed Foreign broker accounts" thread. As believe me, there are many a dipstick on that thread.

Cheers

Scoobs.
  • #1,463
  • Sep 5, 2010 3:31pm Sep 5, 2010 3:31pm
Quoting scooby-doo
Save the empties for the "US Citizens wont be allowed Foreign broker accounts" thread. As believe me, there are many a dipstick on that thread.
Ye Gods. And I only read page 1.
  • #1,464
  • Sep 6, 2010 4:37am Sep 6, 2010 4:37am
hey guys/NB

this g/cad, is B considered a secondary trade for A ?, or is it considered as a primary trade ?

cause last time i rmbr NB mentioned that a secondary trade is a retrace to the S/R of the first trade, so is this considered ? or is it just another trade that meets the RWB, GoldLine requirement ?

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  • #1,465
  • Sep 6, 2010 4:48am Sep 6, 2010 4:48am
anyone stuck in the E/G trade? any suggestion? currently in -45 pips, just afraid that it'll get more momentum up.
  • #1,466
  • Sep 6, 2010 4:48am Sep 6, 2010 4:48am
Quoting Forces
hey guys/NB

this g/cad, is B considered a secondary trade for A ?, or is it considered as a primary trade ?

cause last time i rmbr NB mentioned that a secondary trade is a retrace to the S/R of the first trade, so is this considered ? or is it just another trade that meets the RWB, GoldLine requirement ?

Attachment
Its both but really a primary trade back to a previous primary trade. Looks good to me. I slapped a #2 EA to catch any move coming back in. If it runs south I wont be in.
  • #1,467
  • Sep 6, 2010 4:53am Sep 6, 2010 4:53am
Quoting shag3doo
anyone stuck in the E/G trade? any suggestion? currently in -45 pips, just afraid that it'll get more momentum up.
-45 sheesh. I wont even bother with this one until it gets -150-200 in the hole then go to level 2 trade. Dont trade out of fear trade from a plan. I have a plan ..................... yeah I know I have said that in my manual. I always know what I am going to do so I dont have to fear. Price goes in the hole I reenter 150 or 200 pips later. Price goes to profit take it. No fear just follow the plan.
  • #1,468
  • Sep 6, 2010 4:59am Sep 6, 2010 4:59am
Quoting shag3doo
anyone stuck in the E/G trade? any suggestion? currently in -45 pips, just afraid that it'll get more momentum up.
well you can opt to close out that trade if u worry so much...

NB's system can easily nab us on avg 200pips a week.. so that will most likely cover yr losses if yr that worried

or you can steam through it and use 242 or 113

any comments on USD/CHF ? seems like the BB is squeezing looks like a good #1 ...
  • #1,469
  • Sep 6, 2010 5:06am Sep 6, 2010 5:06am
Morning Folks,

First time follower to this wonderful thread, I've had a read through the docs and when to look at placing the EA's etc onto the 4HR charts.

My thinking is to try and ease myself into the system and just primarily focus on #1 type trades at the outer limits of the 6th indicators.

Would this be a good place to start in your opinions ? Also if I check my charts once every 4 hours at the new candle open would that be a correct way to monitor for new set-ups ?

Cheers,

Morgan.
  • #1,470
  • Sep 6, 2010 5:40am Sep 6, 2010 5:40am
Quoting morgb74
Morning Folks,

First time follower to this wonderful thread, I've had a read through the docs and when to look at placing the EA's etc onto the 4HR charts.
I will answer this as I am relatively new to the system.

I concentrated at first on #1 and #2 setups - far and away the easiest to spot. #2 is my favourite.

From there, the #3 bulge trades rapidly became easy to spot.

These days, I only use #1 if I definitely want to wait for a BB touch. Mostly, I use #4 instead of #1.

I still haven't a clue what #5 does, and the divergence indi is coming off as all it seems to do is tell me there is a divergence that I cannot work out how to trade.

Also, concentrate purely on Primary trades at first - that is where the setup is above/below the gold lines. Truth to tell, I am in my 6th week of trading like this; I am up nearly 2000 pips; the account balance is up 14.72%; I still only trade the Primaries.
I take no notice whatsoever of Bob's listed trades. He doesn't follow his own rules and always has more trades open than me.

Print out a copy of Bob's volatility list to help in deciding when Recovery is necessary.

This is what I have done; it is working rather well.

Hope this helps.

  • #1,471
  • Sep 6, 2010 6:45am Sep 6, 2010 6:45am
Quoting SteveHopwood
I will answer this as I am relatively new to the system.

I concentrated at first on #1 and #2 setups - far and away the easiest to spot. #2 is my favourite.

From there, the #3 bulge trades rapidly became easy to spot.

These days, I only use #1 if I definitely want to wait for a BB touch. Mostly, I use #4 instead of #1.

I still haven't a clue what #5 does, and the divergence indi is coming off as all it seems to do is tell me there is a divergence that I cannot work out how to trade.

Also, concentrate purely on Primary trades at first...
Steve,
#4 gives you the choice of entering two different ways ( a touch of the BB or a cross of the 3MA). The only difference between #4 and #5 is that #5 only enters on a cross of the 3MA. So if you think price has a chance of running a good ways yet, you might use #5. It will ignore any BB touches and keep you out of the trade hopefully until the run has exhausted itself. Bob can probably shed more light on this when he gets a chance. I think Bob included the divergence indicator to just help people identify MACD divergence. This was to go along with deciding when to take a #2 trade. He said most of his #2 trades have divergence and have a stronger move than a #1 trade. I like to have an RSI(8) divergence before I take a #2 trade. At this point I'm trading pretty much like you are, using mostly the #1 and #2 EA's. I'm loving this system, banking over $1000 in less than three weeks using 1/5 the lot size of Bob's recommended penny per $100.
  • #1,472
  • Sep 6, 2010 6:47am Sep 6, 2010 6:47am
I take no notice whatsoever of Bob's listed trades. He doesn't follow his own rules and always has more trades open than me. http://cdn.forexfactory.com/images/s..._the_floor.gif

I love you too Steve but that is a good answer. You want to learn the recovery system then follow me I use it every week.
  • #1,473
  • Sep 6, 2010 7:03am Sep 6, 2010 7:03am
Quoting Toothman
Steve,
#4 gives you the choice of entering two different ways ( a touch of the BB or a cross of the 3MA). The only difference between #4 and #5 is that #5 only enters on a cross of the 3MA. So if you think price has a chance of running a good ways yet, you might use #5. It will ignore any BB touches and keep you out of the trade hopefully until the run has exhausted itself.
Cheers Toothy. That is a big help.

Would it be helpful to anyone if I clean up #5?

  • #1,474
  • Sep 6, 2010 7:45am Sep 6, 2010 7:45am
Quoting Toothman
Steve,
#4 gives you the choice of entering two different ways ( a touch of the BB or a cross of the 3MA). The only difference between #4 and #5 is that #5 only enters on a cross of the 3MA. So if you think price has a chance of running a good ways yet, you might use #5. It will ignore any BB touches and keep you out of the trade hopefully until the run has exhausted itself....
Perfectly explained, dang these guys are getting it. It is too bad I dont follow my own rules.
  • #1,475
  • Sep 6, 2010 7:52am Sep 6, 2010 7:52am
Thanks to Bob and Steve for all your great work, New to the board, Opened a short trade on gbp usd, now at plus 83 pips, still think it has room for more?
The Stoch are running pretty tight?

Thanks Again,

fishman356
  • #1,476
  • Sep 6, 2010 7:59am Sep 6, 2010 7:59am
Quoting SteveHopwood
Would it be helpful to anyone if I clean up #5?

For sure, and we will try to include it in the autotrading robot, and see if it has legs....

  • #1,477
  • Sep 6, 2010 8:03am Sep 6, 2010 8:03am
Love your reply Steve.

I am busy with the recovery system on one of my pairs and I just cannot tell you how relieving it is not to stress about it going the wrong way.

Nanning is a legend.
  • #1,478
  • Sep 6, 2010 8:07am Sep 6, 2010 8:07am
Quoting fishman356
Thanks to Bob and Steve for all your great work, New to the board, Opened a short trade on gbp usd, now at plus 83 pips, still think it has room for more?
The Stoch are running pretty tight?

Thanks Again,

fishman356
GBPUSD price right now is at the bottom of the screen. According to the rules, we look for buys at the bottom and sells at the top of the screen.
  • #1,479
  • Sep 6, 2010 8:19am Sep 6, 2010 8:19am
Quoting fishman356
Thanks to Bob and Steve for all your great work, New to the board, Opened a short trade on gbp usd, now at plus 83 pips, still think it has room for more?
The Stoch are running pretty tight?

Thanks Again,

fishman356
You have been lucky, and looking at the chart we can see why. In your shoes, I would close the trade and bank those pips straight away as they are unlikely to be around for long.

Then you better re-read the documentation. You are trading upside-down.
  • #1,480
  • Sep 6, 2010 8:27am Sep 6, 2010 8:27am
Thanks , tp at 78 pips, like you said , never let a winner get away?

fishman356
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