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Nanningbob 4h trading system ver. 5.0

  • #1,921
  • Sep 16, 2010 9:25pm Sep 16, 2010 9:25pm
I have been with ibfx from the start of my forex experience (3 years) and have nothing bad at all to say about service or getting paid. Little slippage now and then but nothing worth fussing over So if u don't mind me asking bob why r u no longer trading with them? Strickly because of hedging I guess?

Quoting nanningbob
Yes low spreads are important but I would rather pay a higher spread and have an honest broker then all this stupid gimmick stuff. The spread on these 5 digit brokers means nothing when they spike the spread at the time you take the trade. If you dont believe me watch your tick chart when you take a trade. You will see the spread widen suddenly and then go back after the trade is taken. FXSol was a fixed spread 4 digit broker where you knew exactly what your costs were going to be. No gimmicks and then they did this crap with the swap. Not only...
  • #1,922
  • Sep 16, 2010 9:54pm Sep 16, 2010 9:54pm
I've had GREAT experience with GFT. They don't support MT4 however. And their own dealbook 360 platform is absolute garbage in regards to using any strategy tester. I've actually been using my demo EA's with NB and placing live trades on GFT. The prices don't exactly match up but I'm able to get in and pick up an amazing amount of pips. I'm averaging almost 200 pips a week which is ALOT given how conservative I trade.
  • #1,923
  • Sep 16, 2010 11:16pm Sep 16, 2010 11:16pm
IBFX has been great I have to admit. Their customer support and online software is leaps above FXCM or Forex.com for sure. Plus, they allow FIFO which you will need also....

The only trouble is the sister account you have to keep if you want to hedge...

With CollectiveFX, I could have sworn they only offered MINI, my mistake.
We are our own best indicator.
  • #1,924
  • Sep 16, 2010 11:38pm Sep 16, 2010 11:38pm
Quoting jtmoore007
I have been with ibfx from the start of my forex experience (3 years) and have nothing bad at all to say about service or getting paid. Little slippage now and then but nothing worth fussing over So if u don't mind me asking bob why r u no longer trading with them? Strickly because of hedging I guess?
Yes I thinking hedging is going to be an absolute must with my system. If you are carrying a fair amount of DD and then some big news event happens that would really hurt your account I would rather just hedge and come back in two weeks rather than take a bunch of losses. I cant do that with FXSol UK now because they will eat me alive with their premium charges. Sooooooooooo ................. I went back to the drawing board to see if I could come up with something that will fit the new trading regs and protect my account. I believe I got something and want to trade it live on IBFX for 1 or two weeks. If it works will let you know.
  • #1,925
  • Sep 17, 2010 1:28am Sep 17, 2010 1:28am
Quoting Dewey McG
Collective does not require 10k and they do trade microlots. I have been very happy with them so far. They have an unusual setup which they claim makes them exempt from the new regulations.

I also have an account with Gallant who are not bad. Thye have a $500 minimum.
Dewey thanks for pointing out collective FX I definitely am going to check them out. They look good at this point, does anyone have any other info on them??
  • #1,926
  • Sep 17, 2010 2:01am Sep 17, 2010 2:01am
Bob,
I have a live account with CFX and can confirm that they have been great for me. Hedging OK, low spreads, no commission, reasonable swaps. Monthly fee is reasonable. BTW I also agree IBFX was a very good broker for me (used them for years). Tough to find a good broker, and MT4 brokers are the worst of the worst generally speaking. One word of caution re CFX - their main liquidity provider is Citi and they have had 3 or 4 outages in the last 4 weeks, but at least CFX keeps users updated immediately on status etc and is reportedly going to replace them with a better LP. Anyway, just saying my experience with them has been positive. Let me know if u have other specific questions.
Odysseus

Quoting nanningbob
Dewey thanks for pointing out collective FX I definitely am going to check them out. They look good at this point, does anyone have any other info on them??
forexfusiondotcom
  • #1,927
  • Sep 17, 2010 2:29am Sep 17, 2010 2:29am
Quoting odysseus11
Bob,
I have a live account with CFX and can confirm that they have been great for me. Hedging OK, low spreads, no commission, reasonable swaps. Monthly fee is reasonable. BTW I also agree IBFX was a very good broker for me (used them for years). Tough to find a good broker, and MT4 brokers are the worst of the worst generally speaking. One word of caution re CFX - their main liquidity provider is Citi and they have had 3 or 4 outages in the last 4 weeks, but at least CFX keeps users updated immediately on status etc and is reportedly going to replace...
hmmmmm....3 or 4 outages the past few weeks??? And you pay a monthly fee for that? How long did the outages last? To me that is a nightmare, not a positive experience. FWIW, I trade different strategies with different brokers. I use FXCMuk, GO Markets, ATC, and I do my manual trading with OANDA. There are positives and negatives to each broker, so I try to fit my strategy to each broker.
  • #1,928
  • Sep 17, 2010 2:46am Sep 17, 2010 2:46am
well the outages were on the order of a few (5-10) minutes each time, so their impact on 4h tf trades was minimal for my own perspective.

Maybe I am just jaded but in the world of MT4 brokers just using someone that doesnt play games like FXsol is now is a large factor, IMO. You are 100% right, they all have good and bad points. How do u like Oanda?

I would actually still use IBFX if they allowed hedging.

Hey Bob, one thing - I really think Bollinger bands as an indicator are the weakest link in your system. Quick question - have u ever considered using TMA bands instead (triangulated moving average)? If not, check out the attached.

Odysseus
Attached File(s)
File Type: mq4 improved_TriangularMA centered bands - mtf & alerts.mq4   8 KB | 416 downloads
forexfusiondotcom
  • #1,929
  • Sep 17, 2010 2:52am Sep 17, 2010 2:52am
Quoting odysseus11
Bob,
I have a live account with CFX and can confirm that they have been great for me. Hedging OK, low spreads, no commission, reasonable swaps. Monthly fee is reasonable. BTW I also agree IBFX was a very good broker for me (used them for years). Tough to find a good broker, and MT4 brokers are the worst of the worst generally speaking. One word of caution re CFX - their main liquidity provider is Citi and they have had 3 or 4 outages in the last 4 weeks, but at least CFX keeps users updated immediately on status etc and is reportedly going to replace...
With this system that is not as critical. I am gone all day anyways so i probably wouldnt even know. I read through their website and they sound like a breath of fresh air. But you know the old saying" if it sounds too good to be true .................. but on the other hand they are running it like I thought I would. Just didnt know there was a way around Washington.

I have mostly enjoyed my relationship with IBFX but I am beginning to agree with analysts that the market of the future could be even more volatile. Heck I remember the days when the EUR/GBP never moved more than a 150 pips in one day ever and now. Sheeeeeesh. When I first was trained the EUR/USD was good for 70-80 pips max. Now dont even see days like that anymore. So we have to adjust and that is the one thing I have always been good at, making adjustments. So we have these new rules. OK, I will adjust and maybe get lucky and hit on something good again.
  • #1,930
  • Sep 17, 2010 3:17am Sep 17, 2010 3:17am
Quoting nanningbob
So we have to adjust and that is the one thing I have always been good at, making adjustments. So we have these new rules. OK, I will adjust and maybe get lucky and hit on something good again.
with the amount of knowledge.. and brain power of all the active users.. i think we can come up with something quite fool proof, if we really put our hearts into it..
  • #1,931
  • Sep 17, 2010 4:37am Sep 17, 2010 4:37am
Quoting odysseus11
well the outages were on the order of a few (5-10) minutes each time, so their impact on 4h tf trades was minimal for my own perspective.

Maybe I am just jaded but in the world of MT4 brokers just using someone that doesnt play games like FXsol is now is a large factor, IMO. You are 100% right, they all have good and bad points. How do u like Oanda?

I would actually still use IBFX if they allowed hedging.

Hey Bob, one thing - I really think Bollinger bands as an indicator are the weakest link in your system. Quick question - have u ever considered...
Dang hitting a win ratio of over 80% and its the weakest link. Ouch. I will look at it though, thanks for the input.

The strength of the system is the 200 MA (based on the 30M chart) which is suppose to be the #1 preferred indicator of professional traders.

I still use IBFX for testing. Love that penny account, still only need a couple of hundred bucks to test an idea. I can go 4000 pips in the hole testing something and only be 40 bucks down. Great place to learn this business.
  • #1,932
  • Sep 17, 2010 7:19am Sep 17, 2010 7:19am
Quoting josch
Yes, have a look - I just did. Google this company, not (yet) regulated and there are not only few strange comments about out there. Make your own decision.

josch
I don't see Collective Forex getting around the Dodd /Frank bill.
  • #1,933
  • Sep 17, 2010 7:55am Sep 17, 2010 7:55am
Quoting nanningbob
Dang hitting a win ratio of over 80% and its the weakest link. Ouch.
It Has to go.
  • #1,934
  • Sep 17, 2010 8:32am Sep 17, 2010 8:32am
Hi Bob,

First post on this thread. Just want to acknowledge your great system. Found it just over a week ago and have traded it all week. Just finished off for the week with 4.9% profit. I bet some make considerably more than that as it's such a remarkable system.

Thanks Bob for giving me the light at the end of the tunnel. You are a true champion.

Regards,

Mike.

P.S. I've never been able to get an equity curve like this before.
Attached Image (click to enlarge)
Click to Enlarge Name: EQUITY.gif Size: 34 KB
  • #1,935
  • Sep 17, 2010 8:53am Sep 17, 2010 8:53am
Quoting Prophit
Hi Bob,

First post on this thread. Just want to acknowledge your great system. Found it just over a week ago and have traded it all week. Just finished off for the week with 4.9% profit. I bet some make considerably more than that as it's such a remarkable system.

Thanks Bob for giving me the light at the end of the tunnel. You are a true champion.

Regards,

Mike.

P.S. I've never been able to get an equity curve like this before.
Attachment

keep working and improving ...
looking forward to see more results from u in this thread
Hero calls followed by margin calls...
  • #1,936
  • Sep 17, 2010 9:15am Sep 17, 2010 9:15am
ok guys, let me ask this. say you are already in a trade that is going against you but it hasn't reached the 200 pip DD yet. but there is another trade opp. do you take the next setup or wait to see if you get to the 200 mark.

You will see what i mean in the pic. 1st arrow on left is entry top arrow is where i should have reentered although it had not reached 200 pips ( close though 190 or so). to be honest i would have made the reentry trade but i was asleep. but what do you guys do? Make the reentry trade or just reenter when you get a set amount away from your initial entry?
Attached Image
  • #1,937
  • Sep 17, 2010 9:21am Sep 17, 2010 9:21am
Quoting jtmoore007
ok guys, let me ask this....
Depending on the currency pair yes or now. I have gotten burned badly on the very volatile pairs but have done very well with the not so volatile pairs. If you set the #3 EA and it bounces up you have a very good trade there. A #5 will catch it on the MA cross.
  • #1,938
  • Sep 17, 2010 9:29am Sep 17, 2010 9:29am
Quoting nanningbob
Depending on the currency pair yes or now. I have gotten burned badly on the very volatile pairs but have done very well with the not so volatile pairs. If you set the #3 EA and it bounces up you have a very good trade there. A #5 will catch it on the MA cross.

thanks bob. yea i was thinking about putting #3 on it but didn't then went to bed forgetting about it. wish i would have set it now. would at very worst broken even by now
  • #1,939
  • Sep 17, 2010 9:56am Sep 17, 2010 9:56am
Quoting jtmoore007
thanks bob. yea i was thinking about putting #3 on it but didn't then went to bed forgetting about it. wish i would have set it now. would at very worst broken even by now
I trade 0.001 standard lot for every $200 account instead of 0.001 standard lot for every $100. So that if there's another reentry opportunity within -100 pips range, I can just trade another 0.001 lot.
  • #1,940
  • Sep 17, 2010 10:28am Sep 17, 2010 10:28am
Quoting nanningbob
The second one is the one I use but certain systems cant use that sixths indicator for their other indicators. They need a fixed setting for the number of candles.
so Bob you are using the 5.2 Sixths version on you manual trading and not the 3.6 that is used on the auto version of Steve's?????

take a look again at the second pic i posted on page 128 post 1908. with the 5.2 version, there is no way this could be traded any time soon. but with the 3.6 version a short opportunity was present
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