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Nanningbob 4h trading system ver. 5.0

  • #2,561
  • Edited 8:26pm Oct 1, 2010 8:08pm | Edited 8:26pm
Quoting SteveHopwood
What sort of trouble, Bob?

They are not entering the trades. I sent them to you as version 6.0. I missed a bunch of trades on my demo yesterday but they work in the MT4 tester so that has got me stumped. I am going to drop the MA filter in the programming and see if that is the problem. That is the 2MA median when you look at it. Maybe I need a higher number to make the filter work. The BB band EA did not make any entrances.
  • #2,562
  • Oct 1, 2010 10:04pm Oct 1, 2010 10:04pm
Try FXDD demo. It has solved some of my testing irregularities.
Cheers
CanuckCT

Quoting nanningbob
Having trouble getting this to work with IBFX demo. Any suggestions??
  • #2,563
  • Oct 1, 2010 10:42pm Oct 1, 2010 10:42pm
Quoting CanuckCT
Try FXDD demo. It has solved some of my testing irregularities.
Cheers
CanuckCT
I dont trade FXDD I trade IBFX,
  • #2,564
  • Oct 2, 2010 7:04am Oct 2, 2010 7:04am
Quoting thelws
I don't understand the gripe here. Either some of you are not following the rules correctly or I'm not following the rules correctly... because...

I'm up about 600 pips...

I've closed out all my positions with minimal losses. The biggest lost came from EURUSD. 2nd (almost biggest loss) was from GBPUSD. With GBPUSD I went all the way to level 3 but was lucky to have a short retrace about 100 pips a few days ago. Broke even.

Others were +ve everywhere. I'm beginning to see how this system can work well. But I would suggest that for the next level...
I ended the month in solid positive territory (up over 1000 pips) by following the rules. I was very conservative when I had to go to a L2 trade. I'd always set TP to BE when L2 kicked in. I had one L3 (AUD/USD) that I closed on one of the early retraces for a pretty big loss. I wanted out of that one before we were too close to the Oct. deadline for US. citizens to repatriate their accounts. That move saved me a lot of pips.
  • #2,565
  • Edited 8:24am Oct 2, 2010 8:02am | Edited 8:24am
I would like to suggest a possible change in the system. You would use the number 5 EA with this one for now and use the TMA instead of the sixths and RWB combo. This is a pic of the eur/usd run and you can see once price penetrates outside the lines the #5 EA has a good entrance and very little DD and no 2nd entrances. This maybe an improvement with the system that I and some others are testing now. You may want to consider this. I have put two of the indicators in the folder, one for dark bakcgrounds and one for light backgrounds. Please test and fell free to comment without fear. Here is the recent usd/eur run many have had trouble with. You can compare this with your entrances and see how this indicator may work better.
Attached Image (click to enlarge)
Click to Enlarge Name: tma.gif Size: 27 KB
Attached File(s)
File Type: mq4 TMA CENTERED LIGHT.mq4   8 KB | 543 downloads
File Type: mq4 TMA CENTERED.mq4   8 KB | 638 downloads
  • #2,566
  • Oct 2, 2010 8:05am Oct 2, 2010 8:05am
Here is the Eur/cad run. I have tested this only for 2 days since I have seen this so I cant answer a lot of questions yet but I know all my entrances would have been better on these trades with this indicator.
Attached Image (click to enlarge)
Click to Enlarge Name: eur cad tma.gif Size: 24 KB
  • #2,567
  • Oct 2, 2010 8:10am Oct 2, 2010 8:10am
Here is the EUR/CHF run we took a loss on last month. It seems we wouldnt have been in that trade so early with this indicator over the RWB, Sixths.
Attached Image (click to enlarge)
Click to Enlarge Name: eur chf tma.gif Size: 28 KB
  • #2,568
  • Oct 2, 2010 8:22am Oct 2, 2010 8:22am
The reason you see 6.0 on the screen is we are trying to develop a system of trading USA brokers. This is the first part which you are familiar with. The second stage is a breakout system. So the idea will be to trade the breakout and then the retracement back. We will be using SL instead of reentries with the Breakout system and the same with the retracements but we may go 1 level if necessary but dont know yet until we fully test it live. So for those of you in deep doo doo right now I thought that this new indicator may help you better to get out. The goal is to have enough profitable trades going that they out weigh the SL. That is the thinking anyway. Good luck. Enjoyed a good swim today now going out for a 2 hour Chinese massage with my wife. See ya.
  • #2,569
  • Oct 2, 2010 8:28am Oct 2, 2010 8:28am
One more thing before I go. The indicator has a warning system in it so when price breaks the upper or lower lines it will give a warning so you dont have to chase all the screens to check for setups. The 1x3 EA will not enter until the spike stops and reverses so you dont get in until the reverse happens. You wont get hit by a big new story. MAYBE .............. POSSIBLY NOT ............... Perhapes it wont happen ..........................
  • #2,570
  • Oct 2, 2010 8:36am Oct 2, 2010 8:36am
Many thanks for Odysseus11 who made this suggestion back in Sept. 17. Sorry it took so long to see its potential.
  • #2,571
  • Oct 2, 2010 9:03am Oct 2, 2010 9:03am
I have added some control over trade direction - TradeLong and TradeShort are the relevant inputs.

Attached File(s)
File Type: mq4 BB squeeze breakout by Steve Hopwood.mq4   7 KB | 420 downloads
  • #2,572
  • Oct 2, 2010 10:55am Oct 2, 2010 10:55am
Quoting Toothman
I ended the month in solid positive territory (up over 1000 pips) by following the rules. I was very conservative when I had to go to a L2 trade. I'd always set TP to BE when L2 kicked in. I had one L3 (AUD/USD) that I closed on one of the early retraces for a pretty big loss. I wanted out of that one before we were too close to the Oct. deadline for US. citizens to repatriate their accounts. That move saved me a lot of pips.
Yes, funny how you think something painful makes you money in the end.

I was being aggressive (usually not the case for me) and it has cost me this month, but I will make it back. The reason I did so well with NB 4.0 was that I stuck to the rules of the meter signal and the minimum ReEntries. I noticed on this system the focus was to take more Secondaries contingent upon the BB.

I have attached the METER SIGNAL indi (from NB 4.0) for those who would like to take only primary trades. I believe this has an RSI filter in it as well (which is redundant to me?) and will give you a visual reference to the primary trades are.
Attached File(s)
File Type: ex4 NB Meter_Signals.ex4   11 KB | 454 downloads
We are our own best indicator.
  • #2,573
  • Oct 2, 2010 1:22pm Oct 2, 2010 1:22pm
I was turned on to Bob's system by a trader I trust and I am fascinated by it. I have tested his system for over a month and have actually traded a similar system quite successfully since 6/1/10 (real money). I understand the entry but I am confused about exit. If I get into trouble, should I use the 2.4.2.4 method or the 1.1.3.3 method of re-buying? And I've noticed that sometimes there are losing trades reported. Is there a point where you stop using 2.4.2.4 or 1.1.3.3 and just take a big loss? I have searched the thread and can't find the answer. I would greatly appreciate any information. Thanks!
  • #2,574
  • Oct 2, 2010 3:55pm Oct 2, 2010 3:55pm
Quoting nanningbob
One more thing before I go. The indicator has a warning system in it so when price breaks the upper or lower lines it will give a warning so you dont have to chase all the screens to check for setups. The 1x3 EA will not enter until the spike stops and reverses so you dont get in until the reverse happens. You wont get hit by a big new story. MAYBE .............. POSSIBLY NOT ............... Perhapes it wont happen ..........................
Bob,
Were you aware that the warning signal in the indicator sends out an alarm at the open of the next candle after the candle that breaks the TMA line? Maybe not a big deal but you could be getting a warning as much as 4 hours after the fact.
  • #2,575
  • Oct 2, 2010 4:12pm Oct 2, 2010 4:12pm
Do you mean that RWB and the 6th "no trade" green zone are not relevant any more with that indi? And is the N°4 EA, wich is a mix of 2 and 5 not a better option than the only N°5?
Thanks for trying to improve that great system...
  • #2,576
  • Oct 2, 2010 4:13pm Oct 2, 2010 4:13pm
toothman,
I believe if you set the input AlertsOnCurrent=TRUE the alarm will go off if the TMA band is breached the moment that it happens. If set to false it only goes off if price CLOSES above/below the band, which I personally have found to be stronger signals.

Bob, excellent using the MA and entering only after it turns, to further eliminate the chance of entering the wrong direction at a run.

The important parameter with the TMA indi is the ATR setting...watch it visually at settings u can play with (higher value = further out bands)...the key is to find settings that will reflect real extremes when breached and yet WILL be breached and one final observation with this indi re exits: the midline is an EXCELLENT exit method. IMO this indi is far better than BB.

Odysseus
forexfusiondotcom
  • #2,577
  • Oct 2, 2010 5:41pm Oct 2, 2010 5:41pm
not sure that I completely understand the new 6.0 but bob said use #5 which is entry on a 1x3 cross...on my "test" demo I loaded the new indicator and made a template for it. the foreground is red so I will not get confused I guess. Looking for a sell here on EU. also have loaded the #5 on eg, euchf, nu, uj, au, eucad, uscad, euaud, ej, uschf....
http://i688.photobucket.com/albums/v...tronaut/10.gif
  • #2,578
  • Oct 2, 2010 6:54pm Oct 2, 2010 6:54pm
Quoting pitou
Do you mean that RWB and the 6th "no trade" green zone are not relevant any more with that indi? And is the N°4 EA, wich is a mix of 2 and 5 not a better option than the only N°5?
Thanks for trying to improve that great system...
No they are still valid. We in the USA are facing the fact that it will be very difficult to trade the system as it stands. The first in first out will be a killer because I often take some profits at L2 and L3 when price stagnates before ever closing out my L1. Now if the MPTM takes a +30 profit there they will close out my L1 and L2 trades first because I have to close them in order that I took them. Since I did not post this on page 1 post 1 it is not an official change but a hey look at this, this maybe an improvement.

You also must remember my first experience with an overseas broker was a disaster. I really dont want to find any more suprises. Anyway I am trying to develop a system that meets the new USA regs. Anyway this maybe an improvement but you have to realize it takes weeks and months of testing before something becomes official.
  • #2,579
  • Oct 2, 2010 7:02pm Oct 2, 2010 7:02pm
Quoting pitou
Do you mean that RWB and the 6th "no trade" green zone are not relevant any more with that indi? And is the N°4 EA, wich is a mix of 2 and 5 not a better option than the only N°5?
Thanks for trying to improve that great system...
Yes, the TMA is taking the place of the RWB.
  • #2,580
  • Oct 2, 2010 7:06pm Oct 2, 2010 7:06pm
Quoting odysseus11
toothman,
I believe if you set the input AlertsOnCurrent=TRUE the alarm will go off if the TMA band is breached the moment that it happens. If set to false it only goes off if price CLOSES above/below the band, which I personally have found to be stronger signals.

Bob, excellent using the MA and entering only after it turns, to further eliminate the chance of entering the wrong direction at a run.

The important parameter with the TMA indi is the ATR setting...watch it visually at settings u can play with (higher value = further out bands)...the...
Thanks for the clarification. Actually we are testing this indi with the BB because together they may make a fantastic dynamic duo. Just to give you a heads up of what we are planning. We are putting the BB and this indi together to form a counter trend and price breakout system. You can see Steve is working on a breakout that is a little different than the one I am working on but we are both heading in the same direction. I am adding this TMA indicator because with the BB it will give you reads that clearly show breakouts are happening and when breakouts are not. What I need now is experience in putting the two together.

This system, 5.0, does work very very well as I have used variations of it over the past several years. The only reason I am changing some of it is to meet the new regs of the USA and my personal view that the markets are going to get more volatile. With more volatile markets catching the breakouts will be a boon to the bottom line but knowing whe the market may not breakout is also valuable. Some of you know an earlier version of this system used the 3x3 cross so I know how to use that. With this indicator a MA cross outside of the bands maybe an improvement. You really dont know until you test and try.
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