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  • #261
  • Sep 15, 2010 3:17am Sep 15, 2010 3:17am
Quoting chiba_san
how do u know which direction
spectatin angles of RWBs, looking for up/downtrend and waiting for candle to show for direcction, then go in immediately... if you wait for candle you'll loose some pips but tough u gonna make some nice profit
Hero calls followed by margin calls...
  • #262
  • Sep 15, 2010 3:18am Sep 15, 2010 3:18am
ahh i love the following ''shorts'' after such a spike like the jpy = D

forex is the best!
Hero calls followed by margin calls...
  • #263
  • Sep 15, 2010 3:35am Sep 15, 2010 3:35am
just placed a 25 pip trailing stop on this pair.. moving on to concentrate on trading bob's strategy again.

so far these trades are now in green
usdchf
gbpchf
usdjpy

trades still on red
eurnzd
euraud

noobish mistakes i took the profit for the level2 trade... i know i know.. i could have closed it breakeven or maybe some profit by now. thought it might retrace back. (bad student)
  • #264
  • Sep 15, 2010 3:36am Sep 15, 2010 3:36am
"waiting for candle to show direction" on which timeframe first to confirm, and then using which timeframe next as double confirmation?

Quoting PhAnTi'
spectatin angles of RWBs, looking for up/downtrend and waiting for candle to show for direcction, then go in immediately... if you wait for candle you'll loose some pips but tough u gonna make some nice profit
  • #265
  • Sep 15, 2010 3:40am Sep 15, 2010 3:40am
Quoting chiba_san
"waiting for candle to show direction" on which timeframe first to confirm, and then using which timeframe next as double confirmation?
stick to the quote the bigger the frame the better the confirmation...
actually you start watching H1 chart,then H4, D1 doesn't matter in usual..
Hero calls followed by margin calls...
  • #266
  • Sep 15, 2010 3:56am Sep 15, 2010 3:56am
HI

I hope you guys have read what Scooby has written in Bob`s thread. BOJ has decided on a major devaluation across the board affecting almost all JPY pairs. I have closed all of my JPY sell positions for loss, becuase Scoobs says retrace is not likely for a while. It is times like this where good fundamental information aids the system.

THANKS VERY MUCH SCOOBS

Kind regards
P.S. On the +ve side I had a rather largish USDJPY long trade which had been with me for a number of weeks and that is almost BE by now.

Kind regards
  • #267
  • Sep 15, 2010 4:57am Sep 15, 2010 4:57am
Quoting astral77
HI

I hope you guys have read what Scooby has written in Bob`s thread. BOJ has decided on a major devaluation across the board affecting almost all JPY pairs. I have closed all of my JPY sell positions for loss, becuase Scoobs says retrace is not likely for a while. It is times like this where good fundamental information aids the system.

THANKS VERY MUCH SCOOBS

Kind regards
P.S. On the +ve side I had a rather largish USDJPY long trade which had been with me for a number of weeks and that is almost BE by now.

Kind regards
imho it is important to realize the correlation of many pairs. now with the intervention of boj all xxx/jpy-pairs skyrocketed.
i am also trading the nanningbob 60x90 ea and had massive drawdowns because of this. now i deleted the pairs which very highly correlated and reduced many drawdowns. for example on jpy i am only running the ea on eur/jpy, usd/jpy and nzd/jpy.
maybe this helps someone...
meine augen sind die sterne
  • #268
  • Sep 15, 2010 4:59am Sep 15, 2010 4:59am
Quoting astral77
HI

I hope you guys have read what Scooby has written in Bob`s thread. BOJ has decided on a major devaluation across the board affecting almost all JPY pairs. I have closed all of my JPY sell positions for loss, becuase Scoobs says retrace is not likely for a while. It is times like this where good fundamental information aids the system.

THANKS VERY MUCH SCOOBS

Kind regards
P.S. On the +ve side I had a rather largish USDJPY long trade which had been with me for a number of weeks and that is almost BE by now.

Kind regards
I maybe missing something but should you have been in those trades to begin with if you are following NB's rules or are you running an EA ?????

Scoobs.
  • #269
  • Sep 15, 2010 5:30am Sep 15, 2010 5:30am
Quoting scooby-doo
I maybe missing something but should you have been in those trades to begin with if you are following NB's rules or are you running an EA ?????

Scoobs.
The Long position USDJPY from few weeks ago is using another system I am following.

I had Short AUDJPY, CHFJPY and NZDJPY using NB #1 EA. Closed them this morning, however, I had forgotten to turn off the EAs for AUDJPY and NZDJPY and they entered short again. Fortunately for me there is a small retrace AUDJPY up 50 pips now and NZDJPY up 35 pips now (FOOLS LUCK I SUPPOSE). The reason I do not activate the safety feature on the EAs is because I have mptm running with BE of 35 and BE Profit of 25. I got used to this method from version 4 and it has worked well for me. When the market is trending less pips are made but in a ranging market it works better.

The prices seem to be coming back into BB which according to BOB indication that the move has exhausted itself and is in retrace. BTW I do not recommend anyone following my example. If anyone is looking for role models they should follow, MACMAN, TOOTHMAN, BLUEMELE. They are experienced and knowledgeable traders.

Kind Regards
  • #270
  • Sep 15, 2010 6:10am Sep 15, 2010 6:10am
Quoting bluemele
Yes, the sixths version that works best is the one that slides up and down, up and down as you scroll horizontally.

You need to start from the past, moving forward with the date you are testing all the way to the right.

I made some basic setting changes in the Steve EA, but it wouldn't take trades in Backtest, so I asked Steve to double check my settings....
blue,
I'm glad you're going to work on developing your own EA because the way Steve has his set up, it's not following the rules we are after. See the chart below. Price was outside the BB when it hit the 6th line. So it shouldn't have entered until the 1MA crossed back inside the BB. It looks like it takes a trade as soon as 6th line is hit with RWB at extremes. I want it to wait until a 1MA cross back inside the bands. Note: in this kind of situation, if you wait for cross back, RWB might not all be at extreme anymore at the cross back. So we need the EA to disregard the RWB at this point. So to summarize, we want EA to consider the RWB lines (along with the 6th line) for a #1 trade. But for a #2 trade( 1MA cross back) if price is outside the BB when it hits the 6th line (with RWB at extreme) the EA would disregard the RWB lines at the point of the 1MA cross back. It would function just like Bob's #2 EA at this point. Hope that makes sense. If you have any questions let'm fly.
Attached Image (click to enlarge)
Click to Enlarge Name: chart 2.gif Size: 23 KB
  • #271
  • Sep 15, 2010 6:34am Sep 15, 2010 6:34am
Quoting Toothman
blue,
... it takes a trade as soon as 6th line is hit with RWB at extremes. I want it to wait until a 1MA cross back inside the bands. Note: in this kind of situation, if you wait for cross back, RWB might not all be at extreme anymore at the cross back. So we need the EA to disregard the RWB at this point. So to summarize, we want EA to consider the RWB lines (along with the 6th line) for a #1 trade. But for a #2 trade( 1MA cross back) if price is outside the BB when it hits the 6th line (with RWB at extreme) the EA would disregard the RWB lines...
Sorry do not want to interfere, just for anyone who is new your post has touched on an important point which scoobs and Bob Were discussing in the main thread. When the RWB are at the extremes and the price is above the gold line the price may keep going in that direction for some while. However, when the SMA moves back inside the BB it is an indication that the run is in retrace. That is why you have quite rightly mentioned that you want the EA to behave in the above manner.

Kind Regards
  • #272
  • Sep 15, 2010 6:53am Sep 15, 2010 6:53am
Quoting Toothman
blue,
I'm glad you're going to work on developing your own EA because the way Steve has his set up, it's not following the rules we are after. See the chart below. Price was outside the BB when it hit the 6th line. So it shouldn't have entered until the 1MA crossed back inside the BB. It looks like it takes a trade as soon as 6th line is hit with RWB at extremes. I want it to wait until a 1MA cross back inside the bands. Note: in this kind of situation, if you wait for cross back, RWB might not all be at extreme anymore at the cross back. So we...

Yah, hmmmm... I see what you are saying. This is more challenging and I haven't don that in MQL, but basically, you have to set a flag that says, RWB met = TRUE, and then once the MA cross occurs, OrderSend baby!

Then, once order sent, RWB met = False...

Now that I think about it, I have done this.... I don't know what would happen though if the computer was shut off or refreshed between RWB and MA cross, well, it would not execute... so.....

This could take me a little while as I am super busy at the moment, so I apologize...

I am in hopes that Mart gets something going too.... He said he is working on it. He is an amazing coder!

We are our own best indicator.
  • #273
  • Sep 15, 2010 6:54am Sep 15, 2010 6:54am
JPY pairs...

Per Bob, he is taking the retraces.

Per me, I will sit out quite a few of them to be more cautious, as I agree with Scoobs in that we could see a new trading range.

You can still make some good pips, but I am just more cautious, so good luck to all!!!
We are our own best indicator.
  • #274
  • Sep 15, 2010 7:01am Sep 15, 2010 7:01am
I thought I would share this for anyone new reading this.

One of the things I use alot when exiting my hedge or when TP etc...

I wait for the 4HR candle to about close. So about 20 minutes prior to candle close, I watch it. What I see is price changes direction quite often on certain candles.

The biggest candle that I see a reverse (I saw a pdf on this somewhere toooo) is the one at 5am PST, 8am EST, 11am GMT.

This is the break between the London and NY sessions and the news getting ready to come out. If you are slightly profitable, or thinking about a retrace trade etc.. I have done very well with that hour.
We are our own best indicator.
  • #275
  • Sep 15, 2010 11:01am Sep 15, 2010 11:01am
@bluemele

are you having the same result on your testing of phover's panel? Multiple entries are being made with all of the EA's enabled in the dashboard. It's closing the pairs net profit so i would assume everything is still running as it should.

http://www.mt4i.com/users/karlowe_ong

please note that i'm currently testing 2 EA's. I would not personally trade this in live (atleast not yet). I'm just testing how/what the performance of the automated trading will be. I would love to post it under myfx so you can easily differentiate which ea traded which via comment, but the account is just stucked at pending.

Blessing 3.8
USD/JPY
EUR/GBP

NH4
GBP/USD
USD/CHF
EUR/USD
EUR/AUD
GBP/CHF
GBP/JPY
  • #276
  • Sep 15, 2010 11:13am Sep 15, 2010 11:13am
Quoting shag3doo
@bluemele

are you having the same result on your testing of phover's panel?...
which ea do u use?
Hero calls followed by margin calls...
  • #277
  • Sep 15, 2010 1:37pm Sep 15, 2010 1:37pm
Quoting shag3doo
Multiple entries are being made with all of the EA's enabled in the dashboard.
Hi

Can you clairfy, are you enabling multiple EAs at the same time?

I enable one EA that I need for the setup and have never had incorrect entries. I have been using the panel live for three weeks.
  • #278
  • Sep 15, 2010 1:38pm Sep 15, 2010 1:38pm
You will see some more BOJ intervention during the Asian session, although not on the same scale as the last 24 hours. So expect to see some decent retraces towards the end of the Asian trading session when London opens tomorrow.

Good luck.

Scoobs.
  • #279
  • Sep 15, 2010 6:45pm Sep 15, 2010 6:45pm
Quoting Zr-fx
Hi

Can you clairfy, are you enabling multiple EAs at the same time?

I enable one EA that I need for the setup and have never had incorrect entries. I have been using the panel live for three weeks.
I'm using 2 Separate EA. As i mentioned on my previous post which pair uses which ea. for Bob's strategy i'm using Nh4 Panel from Phover. I've enabled EA 1-7 including EAS. Hope this answers your question.
  • #280
  • Sep 15, 2010 7:03pm Sep 15, 2010 7:03pm
Quoting scooby-doo
You will see some more BOJ intervention during the Asian session, although not on the same scale as the last 24 hours. So expect to see some decent retraces towards the end of the Asian trading session when London opens tomorrow.
Good luck.
Scoobs.
Many thanks SIR. Your posts are very much appreciated and enjoyed.

Kind Regards,
P.S. For anyone new to this thread, thinking scooby-doo is a great dane who is scared of his own shadow, you are very much mistaken. He is a very experienced PROFESSIONAL trader who has extensive knowledge of Forex markets and his specialization is JPY. Listen carefully to what he has to say.
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