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Nanningbob 4h trading system ver. 5.0

  • #2,521
  • Sep 30, 2010 3:41am Sep 30, 2010 3:41am
Quoting Radio
keep it down? you guys are chatting extremely too much!
I guess people are licking their wounds but the bleeding continues. The patient has been moved from 'Recovery' into 'Intensive Care'!
  • #2,522
  • Sep 30, 2010 4:04am Sep 30, 2010 4:04am
I was cleaning out my DD already two weeks ago, all except one pair (AUDNZD).

Letīs forget the NB theorie just for one second and have a look on the USDJPY. I would say at 82.9 there must be a big decision (retrace?) again.

Attached Image (click to enlarge)
Click to Enlarge Name: USDJPY.png Size: 24 KB



I would like to reactivate the NB EAs again, when USDJPY is nearby 82.9, and if it seems to be a good decision - I will enable on other JPYs also.

The "big JPY Invention" seems to be a short bubble, or the Bank of Japan will throw more money into the market again.

Your opinion?

@Bob, the "one second" is over and I canīt wait to activate the EAs again...

Bambo0
  • #2,523
  • Sep 30, 2010 5:27am Sep 30, 2010 5:27am
If things carry on like this then I am not even going to make 1% profit this week.
  • #2,524
  • Sep 30, 2010 6:17am Sep 30, 2010 6:17am
hi, as a couple of you asked me it on pm i tell everybody: why don't we consider a dss as a filter...? please don't get mad, i know u have a system and of course it works pretty good, but i saw that it could be improved....
considering trades that satisfy also the dss gives us an higher probability of success....
and tells also better points to get in again and recover quicker the trades that goes bad..
just my 2cents but as it's working so good for me i don't see why not letting people do the same....
c'mon start blaming on me!!

  • #2,525
  • Sep 30, 2010 7:59am Sep 30, 2010 7:59am
I think the market is showing signs of coming back to us. I may just be over optimistic but I am able to make pips on trades even though in DD which is normal for this system and a piece that has been abnormal for the last week in not having trade setups to offset the DD. this is my 2nd week trading this system and since I was in demo I felt I needed to stay in everything and try to figure my way out of this big DD. Of course I am in demo and that makes it a little easier for me to stomach...I am just trying to follow the manual and think of it as a series of trades. I had 2 L3's close out at +30 the last 2 days and that has added what would be over 2% to my live acct...so I have to look for more L3's for those pairs if price continues to go against me.

this has been another successful week for me considering that and that I figured out how to use EA#7...

I also learned the hard way not to put recovery levels too close together...

remember that the greedy people will start taking profit at some time...they have to and that will help all of us come out of this with some bumps and bruises instead of something broken.

I am resisting the urge to make this system more reliable or more probable. 2 weeks in and knowing the past success....I plan on just giving it time and taking the trades as they come and see how it plays out.

Keep your chins up. it is only money and that can be replaced
  • #2,526
  • Sep 30, 2010 8:04am Sep 30, 2010 8:04am
Quoting Radio
I think the market is showing signs of coming back to us. I may just be over optimistic but I am able to make pips on trades even though in DD which is normal for this system and a piece that has been abnormal for the last week in not having trade setups to offset the DD. this is my 2nd week trading this system and since I was in demo I felt I needed to stay in everything and try to figure my way out of this big DD. Of course I am in demo and that makes it a little easier for me to stomach...I am just trying to follow the manual and think of it...
Your higher level trades are not supposed to be +30 etc..

Your higher level trades are intended to get you out of your current DD on that pair.

One thing I do do... Is.. I watch it as it goes down, then I draw trendlines to where trendline traders (trend traders) would jump in. I then get as close as I can and jump over the trendline. I exit my existing L+ trade and then I have a buy/sell stop sitting above/below the trendline to pick up where I left off.

I have found that little technique to make me quite a bit these last few days and KEEP me out of some nasty retracements. However, last night on the 3 EUR pairs I was trading it jumped the trendline by 4.5 pips and hit me on the nose! Although, I still banked more pips then I lost had I held my position, but it is beautiful when you don't get reentered and it retraces. You are actually happy for some reason!
We are our own best indicator.
  • #2,527
  • Sep 30, 2010 8:13am Sep 30, 2010 8:13am
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.
I think we all feel a bit worn out!

I think you missed a decent morning (USA-NY) though and hopefully this thing turns around.
We are our own best indicator.
  • #2,528
  • Sep 30, 2010 8:21am Sep 30, 2010 8:21am
I read in the manual that NB got out of a L3 at +10 and it was correct because it was not a strong move. I have my MPTM set at 40/30 because there has been nothing so far to show me that we are having a big retracement and I wanted to put some chips in the bank if I made it to 40. I felt like the market would bounce around here and it did price did actually go against me some more.

so instead of being negative on my L3's I now have more of a profit to pull from IF I have to close out a L1.

this is a different environment...hell Bob closed out his trades and he is the master.

I just trying different things for when these market conditions come back again...

this move has been so strong and the retracement will match it...I know that fibs are not mentioned here but when even if price goes back to the 38.2 I don't think I would need an L3 but I would be in DD longer.
  • #2,529
  • Sep 30, 2010 11:15am Sep 30, 2010 11:15am
Quoting bluemele
Your higher level trades are not supposed to be +30 etc..

Your higher level trades are intended to get you out of your current DD on that pair.

One thing I do do......
I did not see anything about a Trend line strategy in any of the manuals...
  • #2,530
  • Sep 30, 2010 11:31am Sep 30, 2010 11:31am
http://contenta.mkt1422.com/ra/2010/...31676/arr1.gifDodd - Frank Wall Street Reform Act Effective October 18, 2010, any entity offering retail Forex and acting as the counterparty to
U.S. residents must be registered with the CFTC and a member of the National Futures
Association (“NFA”).

http://contenta.mkt1422.com/ra/2010/...31676/arr1.gifCustomer Impact Unfortunately, FX Solutions UK is not registered with the CFTC and/or a member of the NFA.
As a result, FX Solutions UK will no longer be eligible to service your Forex trading account.

Currently there is NO ACTION REQUIRED on your part.

On October 15, 2010 at 5PM ET, all open positions in your MetaTrader4 account
will automatically be closed and accounts containing balances will be transferred
to FX Solutions LLC. Please familiarize yourself with the FX Solutions LLC
Risk Disclosure Statement and Notice.
  • #2,531
  • Sep 30, 2010 12:18pm Sep 30, 2010 12:18pm
Quoting Radio
I did not see anything about a Trend line strategy in any of the manuals...
One thing everyone brings to the system are their own trading experiences. There is nothing wrong with adding your own trading experience to the system. If you feel your experience in using trendlines, divergance, RSI, helps you by all means use them. I cant put every single nuance into the system or it becomes very confusing. So good luck and happy trading. Meanwhile for me it is back to the beach and .............................
  • #2,532
  • Sep 30, 2010 12:27pm Sep 30, 2010 12:27pm
Quoting nanningbob
http://contenta.mkt1422.com/ra/2010/...31676/arr1.gifDodd - Frank Wall Street Reform Act...
I've sent all the paper work to transfer back to US. (IBFX). A lot of work when you have an IRA and have to go through a custodian. I like how FX Solutions played us along telling us nothing will change until the last minute and then this notification.
  • #2,533
  • Sep 30, 2010 12:32pm Sep 30, 2010 12:32pm
Quoting nanningbob
http://contenta.mkt1422.com/ra/2010/...31676/arr1.gifDodd - Frank Wall Street Reform Act...
You were leaving them anyway. There are a few things to note about this. First, the US cannot regulate entities that have no connection with the US. The reason this has an impact on FXSol is because they have a US affiliate. The government is using US affiliate operations to get at their overseas counterparts. Presumably, an operation that does not open itself, or its affiliates, to US regulation will not have this problem and may still accept US customers.

Second, the announcement itself is inconsistent. It says the regs apply to US residents. You are a resident of China. So they are closing your account because of your citizenship, but the regulation does not talk about citizenship, and there is a very clear distinction in US law between the two. On this, FXSol is probably just being overcautious. Either that, or their lawyers are not giving them the best advice.
  • #2,534
  • Sep 30, 2010 3:07pm Sep 30, 2010 3:07pm
Toothy, PhAnTi, I have been enjoying trading the post-bulge/post-squeeze Bands breakout this week.

The attached works in the style of the #x ea's and is for manual traders, so:

 

  1. identify a substantial market move followed by a BB 'squeeze'.
  2. drag the ea onto the chart. It will monitor the market at the opening of each new candle and:

    1. go long if the market has opened above the upper band.
    2. go short if the market has opened below the upper band.
    3. tp is a user input, or you can leave it at 0 and use mptm to manage the trade
    4. sl is the middle band

The ea has the usual safety feature, so you will receive the usual prompts and alerts.

If a trade-send fails, the ea will keep on trying.

I knocked this code together tonight and have not used it yes, so demo it first just to make sure everything is ok. The code is simple, so there shouldn't be anything wrong, but I have said that before. Perhaps the code proof-readers could run your eye over the code and post any necessary fix.

Attached File(s)
File Type: mq4 BB squeeze breakout by Steve Hopwood.mq4   7 KB | 289 downloads
  • #2,535
  • Sep 30, 2010 3:19pm Sep 30, 2010 3:19pm
Quoting Toothman
I've sent all the paper work to transfer back to US. (IBFX). A lot of work when you have an IRA and have to go through a custodian. I like how FX Solutions played us along telling us nothing will change until the last minute and then this notification.
Forex.com, FXCM, .... They all played everyone along. So, you have less time to switch things over or just give up probably.

The only broker that I know of that was upfront about it was IBFX.

I am surprised FXSOL will not service your account. I have a GOMarkets account, and I don't think they give a hoot. haha....
We are our own best indicator.
  • #2,536
  • Sep 30, 2010 3:21pm Sep 30, 2010 3:21pm
Quoting duffypratt
You were leaving them anyway....
I believe you are 100% on the first. I didn't realize they were a FCM registered in US?

Secondly, I think you are wrong. Either a citizen or resident I believe the law states. Reason I paid attention to that is because my wife is from Japan.....
We are our own best indicator.
  • #2,537
  • Sep 30, 2010 3:49pm Sep 30, 2010 3:49pm
Quoting bluemele
Forex.com, FXCM, .... They all played everyone along. So, you have less time to switch things over or just give up probably.

The only broker that I know of that was upfront about it was IBFX.

I am surprised FXSOL will not service your account. I have a GOMarkets account, and I don't think they give a hoot. haha....
bluemele,

Iam not sure if you have lately followed the GOMarkets thread but they working currently with their lawyers to figure out on what to do regarding the new rules for US Citizen. GOMarkets are bound by ASIC and the Corporations Act. The trouble with that is GOMarkets knows by now what the new CFTC rules are, so opening or maintaining an account for an US Citizen could be regarded by lawyers as acting not in the best interest for an US Citizen.

Time will tell

Cheers
  • #2,538
  • Sep 30, 2010 4:48pm Sep 30, 2010 4:48pm
Quoting SteveHopwood
Toothy, PhAnTi, I have been enjoying trading the post-bulge/post-squeeze Bands breakout this week.

The attached works in the style of the #x ea's and is for manual traders, so:
[list=1][*]identify a substantial market move followed by a BB 'squeeze'.[*]drag the ea onto the chart. It will monitor the market at the opening of each new candle and:[list][*]go long if the market has opened above the upper band.[*]go short if the market has opened below the upper band.[*]tp is a user input, or you can leave it at...
Thanks much Steve. This strategy( trading the breakout of the Bol. bands) is something Bob had been working on lately so I want to give him the credit. We're kind of adding the BB squeeze as the filter. You can almost always count on an explosive move after a squeeze and I think, more times than not, the move will be in the direction of the initial breakout especially if you're trading with the overall trend.
  • #2,539
  • Sep 30, 2010 7:05pm Sep 30, 2010 7:05pm
Quoting SteveHopwood
Toothy, PhAnTi, I have been enjoying trading the post-bulge/post-squeeze Bands breakout this week.

The attached works in the style of the #x ea's and is for manual traders, so:
[list=1][*]identify a substantial market move followed by a BB 'squeeze'.[*]drag the ea onto the chart. It will monitor the market at the opening of each new candle and:[list][*]go long if the market has opened above the upper band.[*]go short if the market has opened below the upper band.[*]tp is a user input, or you can leave it at...
There is a mistake in the code for the sell you have a buy still there, see below:
//Short
if (Bid < BbLower && Var2 > BbUpper)
{
take = NormalizeDouble(Bid - (TakeProfit * Point),Digits);
if (TakeProfit == 0) take = 0;
result = SendSingleTrade(OP_BUY, TradeComment, Lot, Bid, BbMiddle, take);
if (!result)
{

The area I marked in RED should be OP_SELL

I love the new EA and am adapting it to my USA only edition. I will be sending you the first test of the system. The BE EA I also would like a SL designed around pips also so the SL can be the middle band or # of pips for the more volatile currencies. Thanks.
  • #2,540
  • Sep 30, 2010 7:06pm Sep 30, 2010 7:06pm
Quoting Toothman
Thanks much Steve. This strategy( trading the breakout of the Bol. bands) is something Bob had been working on lately so I want to give him the credit. We're kind of adding the BB squeeze as the filter. You can almost always count on an explosive move after a squeeze and I think, more times than not, the move will be in the direction of the initial breakout especially if you're trading with the overall trend.
A few years ago, I worked on a system that was quite similar to this, and it showed very good promise. I traded with a long trend (about a month), and used BB Squeeze. I was using 25MA on the bands, and found that using a higher deviation helped get rid of some false signals even though it gave up pips on entry.

The other thing I noticed when testing that system is that, yes, moves tend to be in the direction of the initial breakout. But when price broke in one direction, and then fully reversed in the other direction, it tended to go and go on the whipsaw. I didn't have a mechanism to check it at the time, but my guess is that those weird swings were news related.

I'm looking forward to seeing what you guys have developed here.
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