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Nanningbob 4h trading system ver. 5.0

  • #1,481
  • Sep 6, 2010 8:35am Sep 6, 2010 8:35am
Well Bob you were certainly right about this one - currently just entred for L3 recovery (swapped my eurjpy rougue trade for this) made me smile a bit when one of the posts was nurvous about -45 mine is currently - 796 entered level 2 at -227 didnt quite make it to be and now dropped big time - But this is what is great about this system am i panicking no , am i frozen with fear reaching for the bailout button now - i have a plan and will manage the trade to this plan - even at -796 in the hole it still only represents 2.84% of my equity and overall i am - 4.4% . I have already been past this point with my eurjpy (at one point -1,000 pips) and managed it to profit and had 6% total drawdown. This system allows you to make good judgement calls and profitable ones - great system/plan
  • #1,482
  • Sep 6, 2010 9:17am Sep 6, 2010 9:17am
Hello can someone tell me how the SIXTH indicator works? does it repaints

thanks in advance
  • #1,483
  • Sep 6, 2010 9:31am Sep 6, 2010 9:31am
Quoting censura
Well Bob you were certainly right about this one - currently just entred for L3 recovery (swapped my eurjpy rougue trade for this) made me smile a bit when one of the posts was nurvous about -45 mine is currently - 796 entered level 2 at -227 didnt quite make it to be and now dropped big time - But this is what is great about this system am i panicking no , am i frozen with fear reaching for the bailout button now - i have a plan and will manage the trade to this plan - even at -796 in the hole it still only represents 2.84% of my equity and overall...
gbp/nzd is about the only pair I dont take out around -4-500. I play that for about 1000. Some how I like the one really wild trade. I am only 524 down so just getting around to seeing if I want a L3. Oh well have fun. Let me know how it goes. As long as there are no nasty news stories out there you can wait out these runs.
  • #1,484
  • Sep 6, 2010 9:42am Sep 6, 2010 9:42am
Quoting shag3doo
anyone stuck in the E/G trade? any suggestion? currently in -45 pips, just afraid that it'll get more momentum up.
I got in with #4 and am down -76, but will watch and go level 2 if needed.
I was in the -90s a little bit ago.

Good Luck
  • #1,485
  • Sep 6, 2010 10:17am Sep 6, 2010 10:17am
the reason for asking is because i started trading live just a month ago. I tried and tested this system on test but was unlucky to choose eur/chf as my first chart to apply what i've learned. recovery would have been nice but i wasn't able to build my equity to double the lot size.

pardon me for loosing myself a bit there. gaining the confidence back little by little.
  • #1,486
  • Sep 6, 2010 10:39am Sep 6, 2010 10:39am
Quoting geobull
Hello can someone tell me how the SIXTH indicator works? does it repaints

thanks in advance
Search the forums for the word "sixths" .... not that hard really
  • #1,487
  • Sep 6, 2010 11:13am Sep 6, 2010 11:13am
Bob, have you ever considered maxou888s creative idea here :
http://www.forexfactory.com/showthre...248297&page=37

http://cdn.forexfactory.com/images/icons/icon1.gif

I have an idea
Instead of use the recovery system, why not increase the lot size on the next trade (another pair) instead on the same pair ?
I am too tired today to code this stuff, I will try later

what do you think about this ?
Less is more...
  • #1,488
  • Sep 6, 2010 11:30am Sep 6, 2010 11:30am
Just thinking out loud here ...

If we use larger lots on another pair then we are compounding the loss across the entire account.

lets say Pair1 = -200 units (0.01 pips or 0.1pips or whatever is the unit size per trade)
so Pair2 we go in on 2 units (just an example) .... pair 2 is not guaranteed to go into the money anytime soon, so we are in effect doubling the DD on Pair2(rather than the normal 1unit we would have entered on) and adding that to the DD of Pair1 could lead to some nervous moments.

However I know Pair1 will eventually retrace.

What you want to avoid is the cascade effect.

But Max idea can be developed a bit more specifically, if pair 2 is negatively correlated then it may be a feasible idea. But this would have to be with the current trend, thus it would develop into a martingale strategy encompassing the entire account
  • #1,489
  • Sep 6, 2010 12:49pm Sep 6, 2010 12:49pm
I'm down -159 on the EUR/NZD and Bob says that we should look to re-enter around 300 pips. However, at this moment this pair is a primary BUY trade and was wondering if it would be wise to re-enter at this point after a MA cross (I'm using V4 as I still like to trade this) or just wait for the DD to get less.
LEARNING HOW TO FISH SO I CAN FISH FOREVER
  • #1,490
  • Sep 6, 2010 1:33pm Sep 6, 2010 1:33pm
On the EURNZD

RWB now dropping under 15level. No significant news carded ...so expect to keep dropping

1.77740 acted as support earlier. Last hour it has dropping, worst case senario, expecting to blow past this and test 1.77460 as a new support, which is just above a weekly support level.

Best case, a retrace and bounce of the 1.78819 acting as resistance

Next 4 hours should be interesting.

There was a 60Pip retrace earlier, would have been ideal to close out
  • #1,491
  • Sep 6, 2010 1:41pm Sep 6, 2010 1:41pm
Watch for a possible turn around , double bottom, has a lot of room to run when it does turn. This is the lowest price I can see on a monthly chart, for this pair.
  • #1,492
  • Sep 6, 2010 3:19pm Sep 6, 2010 3:19pm
Quoting Mixer
I'm down -159 on the EUR/NZD and Bob says that we should look to re-enter around 300 pips. However, at this moment this pair is a primary BUY trade and was wondering if it would be wise to re-enter at this point after a MA cross (I'm using V4 as I still like to trade this) or just wait for the DD to get less.
Personally, I would re-enter at 240 pips as this is this pairs Daily ATR(200) range. However, i just looked at interbank levels and their is very little support below its current trading price down to 1.77800.

Scoobs.
  • #1,493
  • Sep 6, 2010 3:19pm Sep 6, 2010 3:19pm
Fishman..If ever somebody hoped that your prediction is correct....it would be me. Entered a buy manually ( In hindsight I think to early) and down 50 at the moment.....
  • #1,494
  • Sep 6, 2010 4:09pm Sep 6, 2010 4:09pm
Quoting shag3doo
the reason for asking is because i started trading live just a month ago. I tried and tested this system on test but was unlucky to choose eur/chf as my first chart to apply what i've learned. recovery would have been nice but i wasn't able to build my equity to double the lot size.

pardon me for loosing myself a bit there. gaining the confidence back little by little.
What do you mean by this??

Quote
recovery would have been nice but i wasn't able to build my equity to double the lot size.

If it points to what I think you are saying which is you don't have enough equity to create an L2 trade?

I suggest you cut your trades, go back to Demo until:

A) you have enough funds

B) you have the right lot sizes per the funds (NANO or MICRO)
We are our own best indicator.
  • #1,495
  • Sep 6, 2010 5:11pm Sep 6, 2010 5:11pm
Quoting pipcruiser
Bob, have you ever considered maxou888s creative idea here :
http://www.forexfactory.com/showthre...248297&page=37

http://cdn.forexfactory.com/images/icons/icon1.gif

I have an idea
Instead of use the recovery system, why not increase the lot size on the next trade (another pair) instead on the same pair ?
I am too tired today to code this stuff, I will try later

what do you think about this ?
You are assuming the second trade will go into profit. Such assumptions can and sometimes do have disasterous results. We are not martingalers.
  • #1,496
  • Sep 6, 2010 5:22pm Sep 6, 2010 5:22pm
quiet day which is normal for Monday. Took a couple of NZD trades below the gold line that didnt go anywhere so I closed them out. Lots of possible trades could happen today. Time to go to work see ya later.
RESULTS
aud/nzd 0
nzd/chf +12
nzd/jpy -7

 currency pair and EA for now (you can figure out if it is a buy or sell)
aud/usd #3
chf/jpy 1
eur/aud 1
eur/gbp 1
eur/nzd 1
gbp/aud 1
gbp/cad 4
gbp/chf 1
gbp/jpy 1
gbp/nzd 3
gbp/usd 1
nzd/usd 4
usd/cad 3
usd/chf 1
usd/jpy 1

STILL IN
aud/cad -151
aud/usd -122
eur/chf -196
Eur/gbp -107
gbp/aud -224 -22
gbp/cad -12
gbp/nzd -226 -43
nzd/usd -28


TOTALS
total for day +5
 for the week +5
 for the month + 578
 Carry over - 1131

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]
  • #1,497
  • Sep 6, 2010 5:25pm Sep 6, 2010 5:25pm
Quoting Mixer
I'm down -159 on the EUR/NZD and Bob says that we should look to re-enter around 300 pips. However, at this moment this pair is a primary BUY trade and was wondering if it would be wise to re-enter at this point after a MA cross (I'm using V4 as I still like to trade this) or just wait for the DD to get less.
????????? HUH ???????

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.

What this means is when you get in the area of 250 pips you choose an EA that best fits a good trade and use it for L2. Your entrance can end up anywhere from 2-300 pips depending on which EA you chose and price action. The Key is keeping the Levels so they are not too close together.
  • #1,498
  • Sep 6, 2010 5:34pm Sep 6, 2010 5:34pm
Quoting geobull
Hello can someone tell me how the SIXTH indicator works? does it repaints

thanks in advance
That is in the manual, it is a moving average of the top and bottom of the screen divided into 6 parts. I love the way traders throw the word repaint around, anything that moves as an indicator would repaint. Actually it is not repainting it is updating the information it is giving based on price action. Repainting is an indicator that gives a signal and then takes it off the screen and then puts it back on again later. There is a difference between repainting and updating. Updating is continuous with price action. Repainting is giving a signal, changing its mind and taking it off and then putting it back on again. The sixths indicator does not repaint but it will update.
  • #1,499
  • Sep 6, 2010 6:03pm Sep 6, 2010 6:03pm
Attached Image (click to enlarge)
Click to Enlarge Name: eur aud m15.gif Size: 24 KB


Attached Image (click to enlarge)
Click to Enlarge Name: eur aud d1.gif Size: 21 KB


The pair is still bearish, but as you can see the white trend line is on a slite angle upwards, if it goes south the first green line is approx 35 pips and bottom green line 96 pips, and that is if it holds. I am in and might take another buy if it goes to support. This is the third time it's testing it.

fishman356
  • #1,500
  • Sep 6, 2010 6:08pm Sep 6, 2010 6:08pm
Quoting bluemele
What do you mean by this??



If it points to what I think you are saying which is you don't have enough equity to create an L2 trade?

I suggest you cut your trades, go back to Demo until:

A) you have enough funds

B) you have the right lot sizes per the funds (NANO or MICRO)
Well said, I wonder if we can put into the codes of the EA that you cant use them live until you have demoed them for 2 months. That would stop a lot of the nonsense being posted here. Hey Steve can we put a demo only mode into the EAs and then people send us their demo activity for 2 months and we can send them live EAs. It sure would stop a lot of this nonsense and these guys that trade live before understanding what they are doing wouldnt be losing their money.
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