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Nanningbob 4h trading system ver. 5.0

  • #2,501
  • Sep 29, 2010 4:36pm Sep 29, 2010 4:36pm
I have never had this many negative runs going at one time before. The slow untracing moves are killing me. At some point I need to just close everything and walk away. I did that last June and it took me about 6 weeks to recover but dang this is like being tortured with dripping water. Every time some currency gets a L1 closed out a new one takes its place. Now eur/gbp is pounding my account. What is sick is it missed my BE point by only 4 pips and now it went on a 190 pip run. You know I am beginning to think it is financial suicide for me to trade and work two jobs. I may have no choice but to drop out until I get a teacher who wants to come teach here in China. The biggest problem I am facing is not being home to close out trades that would be small losers. I have a couple of days off her for October holiday. See what happens here the next day or two. Do I add some more funds or walk away with what I have left? That is the decision I face.

Here is part of my theory, traders can do what they want, they arent the market. The market is about business transacting businesss and I dont see that happening. Why isnt the normal business activity being seen here? In other words at Christmas time businesses stop transacting business and the market just drifts for several weeks. I see the same thing here which may really mean the 2nd leg of this depression is hitting right now. Some people have been expecting it and predicting it would happen. I think the govt. false announcement that the recession ended last year was a garbage move. Normal business activity would cause the markets normal bouncing up and down. I dont see that happening. Is this Forex market telling us something the press has not picked up on yet? How ugly is this thing going to get???
  • #2,502
  • Sep 29, 2010 4:41pm Sep 29, 2010 4:41pm
Quoting nanningbob
Steve I just thought this was you posing as an imposter to see if you could get me to say something.
BOB?! Would I do such a thing?

Ok, I would, but only if I thought of it. I hadn't so I didn't, although if I had've I might've, but I wouldn't've so I couldn't've and therefore didn't.

Surrender?

  • #2,503
  • Sep 29, 2010 4:41pm Sep 29, 2010 4:41pm
Quoting aserbfx
always expect the unexpected. but man, this here is really crazy.
i think it will retrace when i close my trades.
just after this, it will retrace like an asteroid.

but i have to say that i will not close them too soon. sorry
Yeah the first bad news out of Europe and BOOM. The problem is how much do I want to put in before that happens. Funny reading these guys, two months ago they were talking about the EURO breaking up and now they are talking about it as a worldwide currency over the dollar again. SHeeeeeeeeeesh.
  • #2,504
  • Sep 29, 2010 4:47pm Sep 29, 2010 4:47pm
Quoting nanningbob
Yeah the first bad news out of Europe and BOOM. The problem is how much do I want to put in before that happens. Funny reading these guys, two months ago they were talking about the EURO breaking up and now they are talking about it as a worldwide currency over the dollar again. SHeeeeeeeeeesh.
I was thinking the same thing. haha... Sounds like economists talking...
We are our own best indicator.
  • #2,505
  • Sep 29, 2010 4:56pm Sep 29, 2010 4:56pm
Ok I have had enough, I closed out and am walking away for the month. I have a week off and I am not going to worry about this. I did this last June and I am doing again now. I am taking a trading break. I maybe back in a week. I am going to Bei Hai. See ya.
  • #2,506
  • Sep 29, 2010 5:03pm Sep 29, 2010 5:03pm
Quoting nanningbob
I have never had this many negative runs going at one time before....
Bob,

The market is anything but 'normal' ATM
Governments around the world are trying to weaken their currencies to increase their competitiveness.
Here is a list of currency interventions, so far this week !

* Federal Reserve $ Dollar – via QE.
* Bank of England £ sterling – via QE.
* Japanese yen intervention.
* Taiwan dollar – suspected intervention.
* Argentinian peso intervention.
* Brazil real intervention fears.
* Russian ruble intervention.
* Australian dollar RBA intervention.
* SNB Swiss franc intervention.
* Poland’s NBP zloty intervention.
* Colombia’s peso intervention.
* Indonesian rupiah intervention.
* South Korean won intervention.
* Thai baht intervention fears.
* Ukrainian hryvnia intervention.
* Israeli shekel intervention.
* Chilean peso intervention fears.
* Turkey has adjusted its reserve requirements in order to weaken the lira.

And also:

* Peruvian sol intervention.
* Phillipines peso suspected intervention.
* Romanian leu intervention.
  • #2,507
  • Sep 29, 2010 5:04pm Sep 29, 2010 5:04pm
Quoting nanningbob
Ok I have had enough, I closed out and am walking away for the month. I have a week off and I am not going to worry about this. I did this last June and I am doing again now. I am taking a trading break. I maybe back in a week. I am going to Bei Hai. See ya.
HI BOB

You do need a break, working 80 hours a week plus this crazy market is enough to drive anyone bonkers. I hope you enjoy the break and come back refreshed.

Kind Regards
  • #2,508
  • Sep 29, 2010 5:10pm Sep 29, 2010 5:10pm
Quoting macman
Bob,

The market is anything but 'normal' ATM
Governments around the world are trying to weaken their currencies to increase their competitiveness.
Here is a list of currency interventions, so far this week !...
The ECB and CCB will be next.

Scoobs
  • #2,509
  • Sep 29, 2010 5:12pm Sep 29, 2010 5:12pm
Quoting nanningbob
I have never had this many negative runs going at one time before. The slow untracing moves are killing me. At some point I need to just close everything and walk away. I did that last June and it took me about 6 weeks to recover but dang this is like being tortured with dripping water.
H
Hello, guys.
Its my first post on this thread and I woud like to thank you guys for the excelent work.
I dont post much, but have been trading for a while and lurking on this thread.
I have studied it and demoed for about a month with excelent results till I decided to go live last week.
I have to admit, I think its all my fault this mkt went so badly against us. I went live and it started the runners the folowing day, Dammit!!!!
Anyway, since all my positions are all against me right now and I am deep into the hole, I have decided to hedge all my positions and wait a bit to see what happens.
Wish me luck, guys!!!

Thanks again for the excelent thread and sorry for english is not my mother language.

Cheers,
''I am too sexy for my pips, too sexy for my pips, too sexy yeahhh...''
  • #2,510
  • Sep 29, 2010 5:16pm Sep 29, 2010 5:16pm
Quoting nanningbob
I have never had this many negative runs going at one time before....
Bob

That is maybe exactly what they bank on it, people in the red are going to capitulate and close out their losses. Statistic tells us that people timing the market have no edge over people sitting on investments.
We have seen this a few years ago and I was deep in the red, but my and other people logic told us that the whole move against our positions was fundamentally wrong and see there a few months later the market came back to is normal cycle.
I believe that we have “currency war” going on and I can not see that the Europeans (especially Germany and France) will allow their Euro to appreciate much more against the US dollar, so watch out for the bad rumors creeping out of the propaganda department. Also the Swiss are suffering immensely because they are a pure exporting nation so if the dollar weakens further against the swissy then the SNB could also do the unimaginable which is what they have done in the late 1970s, where investors bought negative nominal interest rate bonds because of the strength of the Swiss franc.

Have seen all of above and history repeats over and over.

Cheers
  • #2,511
  • Sep 29, 2010 5:19pm Sep 29, 2010 5:19pm
Quoting nanningbob
Ok I have had enough, I closed out and am walking away for the month. I have a week off and I am not going to worry about this. I did this last June and I am doing again now. I am taking a trading break. I maybe back in a week. I am going to Bei Hai. See ya.
Have a lovely time.

Cheers
  • #2,512
  • Sep 29, 2010 5:28pm Sep 29, 2010 5:28pm
Quoting nanningbob
Ok I have had enough, I closed out and am walking away for the month. I have a week off and I am not going to worry about this. I did this last June and I am doing again now. I am taking a trading break. I maybe back in a week. I am going to Bei Hai. See ya.
Hope we have good news to give you when you're back.
Enjoy it,
''I am too sexy for my pips, too sexy for my pips, too sexy yeahhh...''
  • #2,513
  • Sep 29, 2010 5:40pm Sep 29, 2010 5:40pm
I have been a lurker on this thread and admire nanningbob's resilence and wonderful approach to the market (which I also trade). However, I would like to contribute to the success of the system.

I studied forex with a fundamental bias,(though a technical trader) and I have come to realise that markets flows are seasonal and therefore impact the trading systems we apply. Over the years range trading strategy(which this system is based on) do very well during the summer period as there is not enough volume (holiday season) to push markets in a particular direction.

Secondly we must listen to the market to know when there is a fundie change in the market dynamics (Like the speculated QE from the Feds) to know what strat to adopt. Look at Audcad, Audusd or even EurUsd and UsdChf you would understand what I mean.

The instit traders including the chinese are moving funds from US treasuries to europe particulalry chf. That is why the SNB lost huge sums of money trying to stop the rise of the chf but did not suceed.

So the bottom line is, we must watch seasonality to know what trading system to adopt and we must also watch out for significant fundamental changes. There is no one fix all system. Adaptability and flexibility to market dynamics are the keys.
LISTEN TO MR FUNDAMENTAL AND MR TECHNICAL
  • #2,514
  • Sep 29, 2010 9:18pm Sep 29, 2010 9:18pm
Quoting aserbfx
always expect the unexpected. but man, this here is really crazy.
i think it will retrace when i close my trades.
just after this, it will retrace like an asteroid.

but i have to say that i will not close them too soon. sorry
It's good to know I'm not the only one not closing the trades.
It's Thursday. Should be a retrace day. I wish.
  • #2,515
  • Sep 29, 2010 10:14pm Sep 29, 2010 10:14pm
Quoting okehiedon
I have been a lurker on this thread and admire nanningbob's resilence and wonderful approach to the market (which I also trade). However, I would like to contribute to the success of the system.

I studied forex with a fundamental bias,(though a technical trader) and I have come to realise that markets flows are seasonal and therefore impact the trading systems we apply. Over the years range trading strategy(which this system is based on) do very well during the summer period as there is not enough volume (holiday season) to push markets in...
I agree. I think SEPT/OCT tend to be very big months as well, so.....

Hold onto your hats folks!

I am catching myself holding back. It has been a doozy and if you look back at oct 08', those couple months would be very tough on a system like this. Always good to be trading the trend at the same time.

I suck at trends though. Need to find a good one if there is such a thing.

I think had you traded with BE @ 20, I wouldn't be in half the drawdown.
We are our own best indicator.
  • #2,516
  • Edited 2:44am Sep 30, 2010 12:19am | Edited 2:44am
why would I be having problems with #7 not entering trades when I can use all the other ea's?

I hope I did not tee one up for Steve? Never mind I figured it out
http://i688.photobucket.com/albums/v...onaut/9-14.gif
http://i688.photobucket.com/albums/v...onaut/9-13.gif
  • #2,517
  • Sep 30, 2010 2:24am Sep 30, 2010 2:24am
keep it down? you guys are chatting extremely too much!
  • #2,518
  • Sep 30, 2010 2:46am Sep 30, 2010 2:46am
Quoting Radio
why would I be having problems with #7 not entering trades when I can use all the other ea's?

I hope I did not tee one up for Steve? Never mind I figured it out
Wrong usage I guess.
  • #2,519
  • Sep 30, 2010 2:56am Sep 30, 2010 2:56am
Quoting luiboy
Wrong usage I guess.
needed to set the CriminallsECN to True
  • #2,520
  • Sep 30, 2010 3:25am Sep 30, 2010 3:25am
Quoting Radio
needed to set the CriminallsECN to True
haha! what I mean is AUDUSD now is not a good setup for EA #7. You only use #7 if there's a huggie.
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