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Nanningbob 4h trading system ver. 5.0

  • #1,681
  • Sep 12, 2010 5:27pm Sep 12, 2010 5:27pm
Quoting SteveHopwood
My start to the week is less that awesomely fantastic too. Hey ho.

I think I am going to have to spend some of my trillions buying euraud.
just banked 25 pips with eurnzd
Hero calls followed by margin calls...
  • #1,682
  • Sep 12, 2010 5:38pm Sep 12, 2010 5:38pm
This bagar called EUR/AUD is just damn trash. Seems smart money is bent on selling that. I wonder how much I can keep buying it from them
  • #1,683
  • Sep 12, 2010 5:38pm Sep 12, 2010 5:38pm
just wondering - is there any harm using this system on a 5 min chart?

With the 4H chart, it seems like we are waiting forever for conditions to be met for a trade.
  • #1,684
  • Sep 12, 2010 5:44pm Sep 12, 2010 5:44pm
Quoting Viv108
just wondering - is there any harm using this system on a 5 min chart?

With the 4H chart, it seems like we are waiting forever for conditions to be met for a trade.
Personally I think there is no harm but u gotta be a superstar to do that and be ready for some surprises. Even when we do that on the 4Hr and daily we still do have many surprises not to talk of 5M. Also remember that we trade the system on hundreds of pairs, so there is hardly a day we dont have a dozen to trade. Just my thoughts
  • #1,685
  • Sep 12, 2010 5:47pm Sep 12, 2010 5:47pm
Quoting Viv108
just wondering - is there any harm using this system on a 5 min chart?

With the 4H chart, it seems like we are waiting forever for conditions to be met for a trade.
You can use them on any chart you like, but please use BOB`s experience to your advantage. Go and read the old 4H thread. there is only a slight problem with lower time frames and that is....

I leave you to figure that out.

Kind regards
  • #1,686
  • Sep 12, 2010 5:48pm Sep 12, 2010 5:48pm
Quoting icmbs
This bagar called EUR/AUD is just damn trash. Seems smart money is bent on selling that. I wonder how much I can keep buying it from them
I'm almost tempted to hedge my trades on this pair with bigger lots and get out hopefully later at BE.
  • #1,687
  • Sep 12, 2010 5:49pm Sep 12, 2010 5:49pm
Quoting Viv108
just wondering - is there any harm using this system on a 5 min chart?

With the 4H chart, it seems like we are waiting forever for conditions to be met for a trade.
Don't, you'll get killed.
  • #1,688
  • Sep 12, 2010 5:52pm Sep 12, 2010 5:52pm
advice taken - staying away from the 5min charts.

Thanks guys.

What about the 15min? Kidding...kidding....
  • #1,689
  • Sep 12, 2010 6:29pm Sep 12, 2010 6:29pm
No worries for the gaps... they have a very strong tendency to close themselves. Works nearly every time!
"The only successful substitute for brains is silence."
  • #1,690
  • Sep 12, 2010 6:33pm Sep 12, 2010 6:33pm
Quoting Toothman
I'm almost tempted to hedge my trades on this pair with bigger lots and get out hopefully later at BE.
Me too. But knowing my luck sir, as soon as I hedge the price will turn around.

An idea which has been buzzing in my head for few weeks now is to try to hedge at between -250 to -300 depending on the pair and sit back and see how the price develops. It may be the case that many trades would do a turn around and would be straddled with the -ve hedge trade in which case, rather do the recovery on the hedge trade.

What do you think BOB? Maybe a daft idea but these runners that we get every 4 to 5 weeks are spoiling our fun big time. In your experience what is the likelihood of a runner reversing and being a runner in the opposite direction?


Kind Regards
  • #1,691
  • Sep 12, 2010 6:38pm Sep 12, 2010 6:38pm
Quoting Viv108
just wondering - is there any harm using this system on a 5 min chart?

With the 4H chart, it seems like we are waiting forever for conditions to be met for a trade.
If you use lower time frames you cant use the 2.4.2 recovery system because you could be on the wrong side of a long trend. ON a 4H chart we are already way overbought and oversold before we enter but on a lower TF you will find yourself in the middle or even top or bottom of a chart going the wrong way. So you will have to play with stops. Again my history of this system was, I started on lower TF and kept moving to higher TF because of getting whacked or blindsided on moves you dont know are coming on a higher TF chart.
  • #1,692
  • Sep 12, 2010 6:39pm Sep 12, 2010 6:39pm
Quoting astral77
Me too. But knowing my luck sir, as soon as I hedge the price will turn around.

An idea which has been buzzing in my head for few weeks now is to try to hedge at between -250 to -300 depending on the pair and sit back and see how the price develops. It may be the case that many trades would do a turn around and would be straddled with the -ve hedge trade in which case, rather do the recovery on the hedge trade.

What do you think BOB? Maybe a daft idea but these runners that we get every 4 to 5 weeks are spoiling our fun big time. In your experience...
Trends are just part of the game and I take my losses occasionally at the 4-500 pip mark. I just accept them as fact and deal with them. In other words I take my loss and move. At a 80-85% win rate I dont think of them as a problem.
  • #1,693
  • Sep 12, 2010 6:41pm Sep 12, 2010 6:41pm
Quoting DXTrade
No worries for the gaps... they have a very strong tendency to close themselves. Works nearly every time!
Hmmmmm. A couple of years ago, long before I got a proper handle on this mql4 stuff, a pal asked if I could code a gap-trading ea.

Could this be the genesis for Sophia, I wonder? After all, we have the name; all we need now is the method.

So, how to quantify the gap in code? 20 pips? 30? 40?

Presumable a user input on a pair by pair basis.

Any thoughts Bob?

  • #1,694
  • Sep 12, 2010 6:47pm Sep 12, 2010 6:47pm
Steve,
I've collected a couple of gap trading EAs...one scans a bunch of pairs and selects the one with the biggest gap to trade. Others trade with a predefined gap. I can send to you or post it you start a thread for a gap trader.
Cheers
CanuckCT
  • #1,695
  • Sep 12, 2010 6:53pm Sep 12, 2010 6:53pm
Quoting SteveHopwood
Hmmmmm. A couple of years ago, long before I got a proper handle on this mql4 stuff, a pal asked if I could code a gap-trading ea.

Could this be the genesis for Sophia, I wonder? After all, we have the name; all we need now is the method.

So, how to quantify the gap in code? 20 pips? 30? 40?

Presumable a user input on a pair by pair basis.

Any thoughts Bob?

A while ago I traded these manually... with not too bad a success.

On Monday Morning/Sunday Evening - Daily Chart

if Open > Close[1] = Sell... TP: Close[1]
if Open < Close[1] = Buy... TP: Close[1]

no matter what's the size of the gap... 5 pips are 5 pips...
"The only successful substitute for brains is silence."
  • #1,696
  • Sep 12, 2010 7:00pm Sep 12, 2010 7:00pm
Quoting CanuckCT
Steve,
I've collected a couple of gap trading EAs...one scans a bunch of pairs and selects the one with the biggest gap to trade. Others trade with a predefined gap. I can send to you or post it you start a thread for a gap trader.
Cheers
CanuckCT
Sent you a pm.

  • #1,697
  • Sep 12, 2010 7:01pm Sep 12, 2010 7:01pm
There is a BIG retrace coming on AUDJPY
  • #1,698
  • Sep 12, 2010 7:02pm Sep 12, 2010 7:02pm
Quoting DXTrade
A while ago I traded these manually... with not too bad a success.

On Monday Morning/Sunday Evening - Daily Chart

if Open > Close[1] = Sell... TP: Close[1]
if Open < Close[1] = Buy... TP: Close[1]

no matter what's the size of the gap... 5 pips are 5 pips...
Yep, I could code this in about 30 seconds.

What did you do about those gaps that rudely refused to close?

  • #1,699
  • Sep 12, 2010 7:03pm Sep 12, 2010 7:03pm
Quoting SteveHopwood
Yep, I could code this in about 30 seconds.

What did you do about those gaps that rudely refused to close?

Not a lot of those... took the loss after about 24 hours.
But now we have 2.4.2, right?
"The only successful substitute for brains is silence."
  • #1,700
  • Sep 12, 2010 7:05pm Sep 12, 2010 7:05pm
Quoting scooby-doo
There is a BIG retrace coming on AUDJPY
Cheers Scoobs. I am in.

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