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  • #561
  • Sep 28, 2010 5:28pm Sep 28, 2010 5:28pm
Quoting Zr-fx
Boy, what a day!! Talk about butt-kicking. I went out late morning thinking that EUR is finally breaking, got back about 4 o'clock to find all hell had broken loose.

I closed EU L1 at -750 pips, or . My biggest -ve trade to date. Remaining DD is about -28%.

I will stick with the recovery plan and see how it goes. My next L1 on the line would be AU.

It is Live trading but with £1k. I look at this as training for when I start trading £10k or more.

Good night everyone. Get a good sleep. No one knows what tomorrow will bring.

Z
Good attitude.
We are our own best indicator.
  • #562
  • Sep 29, 2010 9:41am Sep 29, 2010 9:41am
AUDUSD L1 closed at -600!

At lease I have managed to get some pips today from cadchf
  • #563
  • Sep 29, 2010 10:04am Sep 29, 2010 10:04am
Quoting Zr-fx
AUDUSD L1 closed at -600!

At lease I have managed to get some pips today from cadchf
Yah, on one account, I picked up nearly 250 pips!

Other account Margin call, -6000 pips!

Large account about 150 pips locked in. So, we will see....

What a tough market. I am impressed!
We are our own best indicator.
  • #564
  • Oct 2, 2010 9:36pm Oct 2, 2010 9:36pm
Quoting bluemele
Yah, on one account, I picked up nearly 250 pips!
Other account Margin call, -6000 pips!
Large account about 150 pips locked in. So, we will see....
What a tough market. I am impressed!
Hi

This thread has slowed down a bit. Blue is right as usual, remember at the end of dark night there is a bright day. Bob, God bless him, is conducting an experiment to make this system compatible with new ridiculous US NFA rules. This system is profitable long term. How we know this? Experience with version 4 as well as version 5.

In the meanwhile if you are looking for additional profitable systems, I would recommend Steve`s FTLR EA which can be found here http://www.forexfactory.com/showthread.php?t=243432 , and Geof`s simple H1 GBPUSD EA which can be found here, http://www.forexfactory.com/showthread.php?t=231650 . These are not an alternative to NB systems but good additions in your forex trading. As always DEMO before using your hard earned cash.

Kind regards
P.S. Please test Bob`s new indicator and report any significant findings.
  • #565
  • Oct 3, 2010 12:52am Oct 3, 2010 12:52am
Quoting astral77
Hi

This thread has slowed down a bit. Blue is right as usual, remember at the end of dark night there is a bright day. Bob, God bless him, is conducting an experiment to make...
I have begun testing using a historical LFH simulator and so far it doesn't seem very promising to me? Because the MA (TMA) moves, the bands move and what ends up looking like you didn't get entered is not true.

This 5.0 system works well when the market is not trending. I think the auto-robot guys have it right by adding David's spin onto it. However, I just don't know how successful that will be in a non-trending/ranging market...

We are our own best indicator.
  • #566
  • Oct 3, 2010 4:21am Oct 3, 2010 4:21am
Quoting astral77

In the meanwhile if you are looking for additional profitable systems, I would recommend Steve`s FTLR EA which can be found here http://www.forexfactory.com/showthread.php?t=243432 , and Geof`s simple H1 GBPUSD EA which can be found here, http://www.forexfactory.com/showthread.php?t=231650 . These are not an alternative to NB systems but good additions in your forex trading. As always DEMO before using your hard earned cash.
Hi astral.

You're right this has slowed down, obviously because many people have taken some heavy losses and will doubt the method as a natural reaction. This is a shame as I believe in the logic behind the strategy but what the past two weeks has shown is that we need a complimentary strategy for trending periods.

What I really like about NB5 is the clear philosophy behind it and rules. Perhaps the mistake was that as I gained more confidence and profits I became a bit more liberal in applying the rules. Cannot be 100% sure but had I stuck with the best setups only then maybe I would not have taken as many losses. Maybe..

I have started testing Max's EA which incorporates both NB5 and Dave's 4H trend bounce. Will also try Steve's. Seems promising.

Not wanting to go off on a tangent but one comment about Geoff's: I have used it and followed it for a considerable time before finding NB5. Be cautious. It worked most of the time but when it goes wrong it takes a large loss.

I am now down to 3.5% gain (down from 11.5%) but with 20% dd that is not looking too healthy if the current trends do not reverse soon.

I for one will continue with Nb5 as I believe in its fundamental basis, but with the knowledge that we have to stick with the rules and be prepared to take the loss and switch to another strategy for a while if market conditions change. Not sure what the other strategy will be yet though .
  • #567
  • Oct 3, 2010 11:08am Oct 3, 2010 11:08am
Quoting Zr-fx
Hi astral.

You're right this has slowed down, obviously because many people have taken some heavy losses and will doubt the method as a natural reaction. This is a shame as I believe in the logic behind the strategy but what the past two weeks has shown is that we need a complimentary strategy for trending periods.

What I really like about NB5 is the clear philosophy behind it and rules....
Same here.

I believe that this strategy is sound as well. We are just in one of the 'storms'. I saw this in May when most people jumped ship and only a few stuck around on the 4.0 system.

Geoff's is plain scary. It has like a 7:1 risk/reward and boy when you take a loss it is big and fast. I had a couple which wasn't supposed to happen because when backtesting blah blah blah...

I am testing the EA's for this as well. I am curious though as when the market starts ranging if the profits will drop substantially. I don't know if on the trendlines they are applying if they have 50/50 like David recommends or what.

Every system has bad months. NB just mentioned this has happened 3 times this year now. The key is to identify when they start trending and be more cautious. I was doing that with 4.0, but I think I was a bit aggressive on the 5.0.

Seems like now everyone wants to be a trend trader.... hahaha..

We are our own best indicator.
  • #568
  • Oct 4, 2010 8:27am Oct 4, 2010 8:27am
I'm in stand by with the NB system since the last week because of the strange market going on.
Do you think it's ok to restart this week or is better to wait more time before re-entry in the market giungle?
  • #569
  • Oct 4, 2010 9:07am Oct 4, 2010 9:07am
Quoting greven
I'm in stand by with the NB system since the last week because of the strange market going on.
Do you think it's ok to restart this week or is better to wait more time before re-entry in the market giungle?
Hi Greven

As far as I can see there are no good NB5 setups today any way. The only one this morning that showed all green was EURAUD but I decided to stay away from Eur. This pair has now dropped anyway so it's too late.

Keep an eye on things for another couple of days then consider coming back in if things seem promising.
  • #570
  • Oct 4, 2010 9:47am Oct 4, 2010 9:47am
Quoting greven
I'm in stand by with the NB system since the last week because of the strange market going on.
Do you think it's ok to restart this week or is better to wait more time before re-entry in the market giungle?
You do not need to be in standby mode, however, you have to be very, very conservative. I am trading version 5 but with the ATR filter and only above the gold lines and primary trades only. Last week had 8 new trades for 280 pips, nearly all hit SL via mptm of BE 40 and BE profit of 30. For people new to the system demo is good idea for recovery practice.

kind regards
  • #571
  • Oct 4, 2010 10:34am Oct 4, 2010 10:34am
Quoting astral77
You do not need to be in standby mode, however, you have to be very, very conservative. I am trading version 5 but with the ATR filter and only above the gold lines and primary trades only. Last week had 8 new trades for 280 pips, nearly all hit SL via mptm of BE 40 and BE profit of 30. For people new to the system demo is good idea for recovery practice.

kind regards
Good point!

Just take the A+ entries for now, no secondaries and you should be fine! haha... Last dying words...

I was up 5% on my account until last night, I closed out some EUR pairs and now even for the 2 weeks. I wouldn't have been able to sleep otherwise.... haha....

I am down 5K over the last few weeks on all my anti-trend system (3 of them)....

I need to pick up a trend trading technique and master it along with my counter-trending. haha....
We are our own best indicator.
  • #572
  • Edited 12:18pm Oct 4, 2010 11:50am | Edited 12:18pm
I just recalled that some time ago I suggested to Bob that Jocko’s anti-hedge hedge strategy as an alternative to hedging or the 242 recovery. With new US rules this strategy maybe of interest to some of our American friends.

I can not recall the exact details (you can look it up here on FF http://www.forexfactory.com/showpost...62&postcount=5), however, instead of using a hedge say at -50 you use a SL and after some more negative movement you place a pending order in the same spot as your SL. Therefore, if the price retraces back in the direction of your initial trade your pending order picks up the trade where it hit the SL and if the price keeps going against you nothing happens.

As I said it was some time ago when I read this and may have got some details wrong, but this can be very useful in the current US trading conditions.

Kind regards.
P.S. I still can not believe that in a country where people can walk around with a semi automatic machine gun legally, they can not hedge their trades and can not have 100:1 leverage. I understand what scoobs says regarding the lobbying, but it is still CRAZY, CRAZY, CRAZY!!!! I see some people blame Obama, but what about the congress?
  • #573
  • Oct 4, 2010 12:16pm Oct 4, 2010 12:16pm
Quoting astral77
I just recalled that some time ago I suggested to Bob that Jocko’s anti-hedge hedge strategy as an alternative to hedging or the 242 recovery. With new US rules this strategy maybe of interest to some of our American friends.

[color=black][font=Verdana]I can not recall the exact details (you can look it up here on FF http://www.forexfactory.com/showpost...62&postcount=5), however, instead of using a hedge say at -50 you use a SL and after...
Just like our population, we are all mixed up and all think differently. Good and bad with that I guess. And, if you disagree with us, we will invade your country and kill your leaders!

Not sure the value of that strategy. I agree that a SL or temporary hedge is good. I can hedge no problemo. IBFX has double accounts so if you can transfer money within seconds now, so really no difference in a way.

I am starting to use TL's a lot more and just jumping over them. it is working very good.
We are our own best indicator.
  • #574
  • Oct 4, 2010 10:31pm Oct 4, 2010 10:31pm
Hi classmates, I've put the hat down on live trading for the meantime as the market have gone berserk.

i've back-read all the updates. have you guys been on "The beast" (TB) thread?

can anyone confirm the exact logic of opening trades?

by the looks of it, it combines bob's method w/ sixth indi but does not rely only on the BB and RWB line crossing. I'm not sure how, but it looks like it finds the resistance level and places a limit order once it bounces back.

this might lower the DD% a lot since the trades are not instantly placed. hope someone could explain the core logic behind to understand how the limits are exactly placed.
  • #575
  • Oct 4, 2010 11:47pm Oct 4, 2010 11:47pm
Quoting shag3doo
Hi classmates,...
What if crossing the Gold sixth (top line) it is really just a pullback to a 1500 pip move?

I am a big believer in FIB's, so if I were to say, that typically it does a 50, you are OK most likely as you have some breathing room, but it just showed us what a 23% and 38% retracement can do! We got nothing more than a 23% retracement on a few currencies over the last few weeks. This has left us with very few trades.

I think the achilles heel of bob's system is that if the USD is getting killed that it is linked to too many pairs and it creates too much stress when trading so many pairs.

As far as an EA, my double dragon Ea was somewhat similar and did quite well for me for almost 4 months. I then went to 5.0 system and have lost 5k..

I am sure the system will be back on track as soon as the dollar gains some ground again. Hopefully not too fast.
We are our own best indicator.
  • #576
  • Oct 5, 2010 12:31am Oct 5, 2010 12:31am
As I understand it, here is how the Beast works for a Primary Sell order:

1) Price goes above top gold line
2) An order is placed to sell when price crosses down through that line
3) Every new candle, or any time the gold line moves position, the pending order is cancelled, and the system looks again to place the order if valid.

Secondary trades happen if there is a primary trade going, and it sets a new trade for when price crosses below the top green line.

I'm not sure that I'm totally right about this, because I'm not all that good at reading code. But that's what I made of my reading of the EA. I'd be very happy if someone could either verify this, or tell me how I got it wrong.

Trade management is then done by MPTM.
  • #577
  • Oct 5, 2010 3:08pm Oct 5, 2010 3:08pm
As this is a study club and I am still on study, the past weeks have been excellent for taking the lession "how to drive the boat to a big storm".

I had almost all pairs in DD, as I am already on a live account, I decided to take some loss early. Except on pair AUSNZD which I tried to rescue, and yesterday this was closed without loss. Without loss is not the truth as I have a lot of swap and commissions, which are not calculated in the NB system.

(correct me if I am wrong, but my understanding is, the calculation does not include swap and commisions?)

For me it was a great lession, even if I lost all my pips since ~mid august.
I think my biggest fault (or the NB Systems design?) was that I have had too many JPY and USD pairs open, and all went into DD.

My conclusion for the next trading period is, if I have to start with level 2, I will not open any new trades on those currencies. Example if USDJPY is in DD and I have to start with the recovery system, I will not open any USD or JPY pairs, until I am on breakeven or decided to jump out.

Makes sense?
  • #578
  • Oct 5, 2010 3:13pm Oct 5, 2010 3:13pm
Quoting Bambo0
As this is a study club and I am still on study, the past weeks have been excellent for taking the lession "how to drive the boat to a big storm".

I had almost all pairs in DD, as I am already on a live account, I decided to take some loss early. Except on pair AUSNZD which I tried to rescue, and yesterday this was closed without loss. Without loss is not the truth as I have a lot of swap and commissions, which are not calculated in the NB system.

(correct me if I am wrong, but my understanding is, the calculation does not include swap and...
Nothing todo with NB's system but as a general rule if(AccountMargin() > (Lots*1000)) then you should not be opening any new trades. Just let the recovery or TP take care of the existing trades.

Scoobs.
  • #579
  • Oct 5, 2010 3:26pm Oct 5, 2010 3:26pm
Quoting Bambo0
As this is a study club and I am still on study, the past weeks have been excellent for taking the lession "how to drive the boat to a big storm".

I had almost all pairs in DD, as I am already on a live account, I decided to take some loss early. Except on pair AUSNZD which I tried to rescue, and yesterday this was closed without loss. Without loss is not the truth as I have a lot of swap and commissions, which are not calculated in the NB system.

(correct me if I am wrong, but my understanding is, the calculation does not include swap...
Yup, that is a great way to do it. Really, in the good times, trading 20+ pairs is great. In the bad times, doubly bad.

When I was trading this at my best, it was mainly because I was doing what you said and trading only 8 or so pairs. Then I started trading 20+ again and kaboom.

Also, the fact that if the USD gets killed, there aren't a lot of currencies to run to that won't have a deep impact.
We are our own best indicator.
  • #580
  • Oct 6, 2010 2:20pm Oct 6, 2010 2:20pm
Greetings,

Apologies if this has been asked before (or if this is not the right place to ask - let me know) i have had a good look around but found nothing.

In the manual (5th ed), it states that white line is 7,3,3 & blue line is 14,5,3 but on the templates ive used they are opposite way around (blue is 7,3,3 & white is 14,5,3).

I was inclined to go with what the manual says & change settings on templates, assuming it was some oversight, but then i'd also assume it would have been picked up (unless it's not that important?).

Anyway, if someone could please confirm what settings each line should be set to(in the manual blue appears to be primary line & white secondary), it would be very much appreciated.


Much thanks
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