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Nanningbob 4h trading system ver. 5.0

  • #1,601
  • Sep 9, 2010 6:44am Sep 9, 2010 6:44am
Quoting Zr-fx
Bob in my case these are real pips, not 5 digit ones. My EURAUD is down a total (L1+L2) of 470 pips and EURNZD is now -415 (L1+L2).

I fully agree with your point though about what a pip is and agree that I see a lot of posts quoting pip numbers when they are not.

Your point about lot size is extremely important....
2nd rule dont add the pips together. I am down 267 pips on my first level EUR/AUD. with my 2nd level a 125 pip retracement brings me to almost even. Your making it sound far worse than it really is. I am 125 pips from break even not 400+ pips down. You need to change your perspective. You will go nuts with the figures you are using. Yesterday the cad/chf moved a 100 pips and poof the DD was gone. You dont have to get back to ground 0 I go 1.1.3 and the third level retraces 1/3 back and poof the DD is gone. I never have had a 3rd level go 400 pips into the hole. I have had only a handful of L2 go to -400 in over a years trading. The Euro is holding steady against other currencies so it will bounce back. If it was losing against all the currencies then there is cause for concern but right now just wait for the bounce. I am still sitting on this stupid eur/chf trade since aug. 20. Since I play with small enough lots I can wait it out. Slap a 1x3 on their and wait for price to break north again.
  • #1,602
  • Sep 9, 2010 6:50am Sep 9, 2010 6:50am
Can someone please check their current GBPUSD 6's lines for me please.

I have compared to another FF user and we have cmpletely different lines.

Mine is currently:

top yellow: 1.5880
top green: 1.5760
bottom green: 1.5519
bottom yellow: 1.5399

See attached screen.

Am i doing something wrong? I am using 4 weeks history as well. Why are there differences?

Thanks
Attached Image (click to enlarge)
Click to Enlarge Name: GU.jpg Size: 79 KB
The Kamakazi
  • #1,603
  • Sep 9, 2010 7:31am Sep 9, 2010 7:31am
Quoting Toothman
I'm trying to decide when to cry uncle on a huge runner. I'm not calling the EUR/CAD a huge runner yet but just say it continues to drop to the point you have to use the 242 once or twice. I think I'd be inclined to close everything at the point where I needed to take the second 242 trade. That would hurt. Of course you might decide to exit all trades earlier(maybe at S/R levels) using profits from other trades. Just thinking out loud here.
I should have said EUR/AUD not EUR/CAD. That's my only runner right now.
  • #1,604
  • Sep 9, 2010 7:41am Sep 9, 2010 7:41am
Can anyone confirm what is the difference between the 6ths indicator on this compared to the one on the steve hopwood EA? the EA is keeping the lines constant at no matter how i zoom and the range is narrower than the default.

Thanks
The Kamakazi
  • #1,605
  • Sep 9, 2010 7:41am Sep 9, 2010 7:41am
Quoting nanningbob
2nd rule dont add the pips together. .....
Great point. Thank you for that. It makes perfect sense now that you have said it. I was just looking at the total, which I see is the wrong point of view.

Thank you.

Z
  • #1,606
  • Sep 9, 2010 8:00am Sep 9, 2010 8:00am
Quoting DXTrade
I know... what goes down...
I'm still not used to the DD of some of my trades and the recovery trades making it even worse...
So I suffer in silence (or nearly) my EURAUD and EURNZD trades, hoping for the best.
LOL... a real different way of trading! And until now I always got out healthy... even with the EURCHF trades 2 weeks ago!
It takes sometime to get used to 4H trading. After almost 6 months of trading 4H I do not even think of ever going back to lower TFs. These sort of runners happen almost once every 4 weeks and it is a part and parcel of this system.

I am sure as one of more experinced traders in FF you would manage to come up on top.

kind regards,
  • #1,607
  • Sep 9, 2010 8:08am Sep 9, 2010 8:08am
A alot of people get confused with the switch to 5 digits. My 2 cents on this

A pip is a price movement and still considered to be on the 4th digit. The 5th digit is of fraction value and only worth a 1/10 of a pip (1/10 your money value as well). The 5th digit really just helps determine the spread. So instead of seeing a spread of 2.0, it might be 1.5 instead.
24 hours in a day – 24 bottles of beer in a case – Coincidence? I think not
  • #1,608
  • Sep 9, 2010 8:13am Sep 9, 2010 8:13am
Quoting astral77
It takes sometime to get used to 4H trading. After almost 6 months of trading 4H I do not even think of ever going back to lower TFs. These sort of runners happen almost once every 4 weeks and it is a part and parcel of this system.

I am sure as one of more experinced traders in FF you would manage to come up on top.

kind regards,
No worries
It's actually not the money - my lot size is fine - it's more the way of trading I need to get used to.
The "Take Five" below my avatar is not in memoriam Dave Brubeck, but in TP pips. That's how I was used to trade since loooong time.

But the trading style here with the advices from Bob is really changing me... and specially my results. Not far from amazing since 1 month now.

And... I'm not worried at all!

Regards...
"The only successful substitute for brains is silence."
  • #1,609
  • Sep 9, 2010 9:27am Sep 9, 2010 9:27am
Quoting matrixebiz
A alot of people get confused with the switch to 5 digits. My 2 cents on this

A pip is a price movement and still considered to be on the 4th digit. The 5th digit is of fraction value and only worth a 1/10 of a pip (1/10 your money value as well). The 5th digit really just helps determine the spread. So instead of seeing a spread of 2.0, it might be 1.5 instead.
Yes exactly right - fractions of a full pip actually have a name - pipette

So 10 pipettes make up 1 pip.
  • #1,610
  • Sep 9, 2010 9:59am Sep 9, 2010 9:59am
Quoting Toothman
I'm trying to decide when to cry uncle on a huge runner. I'm not calling the EUR/CAD a huge runner yet but just say it continues to drop to the point you have to use the 242 once or twice. I think I'd be inclined to close everything at the point where I needed to take the second 242 trade. That would hurt. Of course you might decide to exit all trades earlier(maybe at S/R levels) using profits from other trades. Just thinking out loud here.
Toothman,

I am just writing the same here that I wrote on the other forum.

I have been playing with a lot of trend trading systems over the last year + and the currency it always worked the best on with the least amount of retracements for really good and quick runs was EURAUD!

It may not 'move' as much as other currencies, but when it does boy!

The way I look at it is this:

AUD is a commodity currency which trends very good with the market. AUD only becomes detached from S&P market price action very little of the time.

EUR trends very well and you will see a high correlation with the market a large % of the time as well. I would say more than 50% of the time.

So.. When the EUR and the AUD 'diverge', you will see a huge move and for a good long while and there WILL be a retrace, but the problem is, will it be 1000 pips or 2000 pips! haha..

You have two very good trending currencies that usually range together, but when the 'fission' process occurs, it generates more pips than I care to be around.

I do not trade EURAUD for that reason as that was the first pair I got killed on with this system and I said, "Duh.... that is always the pair I like to use for my trend trading..."

(EURCAD is a close 2nd, but tradeable for me... and that is why EURNZD is so toxic as well...)
We are our own best indicator.
  • #1,611
  • Sep 9, 2010 10:02am Sep 9, 2010 10:02am
Quoting macman
Yes exactly right - fractions of a full pip actually have a name - pipette

So 10 pipettes make up 1 pip.
I can see it now... Introducing...... For your pure enjoyment and entertainment....

"MacMan and the Pippettes!"
We are our own best indicator.
  • #1,612
  • Sep 9, 2010 10:10am Sep 9, 2010 10:10am
Quoting nanningbob
GUYS please understand what a pip is and quit quoting 5 digit numbers as pips, they arent. It seems like ever 4 of 5 pages someone does this. This is a pip, if price is quote on the eur/usd as 1.2345 and price goes to 1.2346 it has gone up one pip or 1/100 of a penny. If you have a 5 digit broker and they post 1.23456 or go to a thousandth of a penny, they have added a digit but a pip is still a 1/100th of a penny THAT NEVER CHANGES BY ADDING DIGITS. If the 5 digit broker price goes up to 1.23466...
"100 pips trading at 10 cents a pip would be 10 dollars " should be micro-lots account.
  • #1,613
  • Sep 9, 2010 10:22am Sep 9, 2010 10:22am
EURCAD = 1.3090
EURAUD = 1.3700

So, potential there is still away to go before a potential retrace.

Scoobs.
  • #1,614
  • Sep 9, 2010 10:45am Sep 9, 2010 10:45am
Im sure it must be written somewhere but i cant find it. Say conditions have met and we turn EA#1 on. Price hits the outer BB and we are in the trade. Price continues to run and the 1 MA is outside the BB which is a signal for #2 EA. We turn #2 EA on. So are we running 2 EA's at the same time or when #2 enters do we close #1? If yes are we running them on the same template or are we using different temp's?
Last question is about the lot size. Does #1 EA use L1(0.30lot) and #2 EA L2(0.50).
Sorry if i sound like a beginner but i really love to master this strategy.
Thanks in advance...
  • #1,615
  • Sep 9, 2010 11:07am Sep 9, 2010 11:07am
No if we Start #1 EA and it's trigger a trade because price is moving into the BB this EA is gonna suspend itself...the Bot is then off...
when price thenleaves bb again we don't use #2 EA because we are even in

recoverytrades should be only set when price moved at least 150-200 pips

any more questions buddy?
Hero calls followed by margin calls...
  • #1,616
  • Sep 9, 2010 12:00pm Sep 9, 2010 12:00pm
[quote=The7;4011549]Im sure it must be written somewhere but i cant find it. Say conditions have met and we turn EA#1 on. Price hits the outer BB and we are in the trade. Price continues to run and the 1 MA is outside the BB which is a signal for #2 EA. We turn #2 EA on. So are we running 2 EA's at the same time or when #2 enters do we close #1? If yes are we running them on the same template or are we using different temp's?
Last question is about the lot size. Does #1 EA use L1(0.30lot) and #2 EA L2(0.50).
Sorry if i sound like a beginner but i really love to master this strategy.
Thanks in advance...[/quote ] If you want to change EA's, when you place the second EA on the chart it will take the place of the first EA. Only one EA will work on a chart at the same time. You adjust the lot size to what you're comfortable with. If price goes against me and I enter a L2 trade, I use a 1.5 multiplier.
  • #1,617
  • Edited 1:11pm Sep 9, 2010 1:04pm | Edited 1:11pm
I have been following this great thread for the last couple months and am enjoying the strat on my demo acct. While I've had a good number of winners, almost all of my losers end up going into L2 for sure, and some L3 for recovery.

Also, would an indicator be helpful that determines the number of pips into the -ive the past few BB touches a pair has? It seems that if historically a pair hits the BB and continues trending for X pips, the entry should be held off for a certain amount of time.

Thanks so much for all the good advice.
Greg
  • #1,618
  • Sep 9, 2010 1:39pm Sep 9, 2010 1:39pm
Quoting PhAnTi'
No if we Start #1 EA and it's trigger a trade because price is moving into the BB this EA is gonna suspend itself...the Bot is then off...
when price thenleaves bb again we don't use #2 EA because we are even in

recoverytrades should be only set when price moved at least 150-200 pips

any more questions buddy?
Ok, so the only time we use EA#2 is when we miss EA#1.(Conditions for EA1 has met,price touched outer BB, but we missed it, so price or MA1 has moved outside the BB and conditions for #2 are in place) Do i get this right?
  • #1,619
  • Sep 9, 2010 1:51pm Sep 9, 2010 1:51pm
Quoting The7
Ok, so the only time we use EA#2 is when we miss EA#1.(Conditions for EA1 has met,price touched outer BB, but we missed it, so price or MA1 has moved outside the BB and conditions for #2 are in place) Do i get this right?
thats how i use it i also have had good luck with ph's EAS which enters when the white stoch crosses the 15/85 level if i miss a #1.

thats if your using the NH4 dashboard....
  • #1,620
  • Sep 9, 2010 3:44pm Sep 9, 2010 3:44pm
Quoting The7
Im sure it must be written somewhere but i cant find it. Say conditions have met...
Per NH4 panel, you can enable as many EA's as you want all on the same screen! Nice feature.

If you haven't used it or looked at it, I suggest you do as it is simpler for beginners in the 'Platform Tech' area of the forum. Good luck!
We are our own best indicator.
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