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Nanningbob 4h trading system ver. 5.0

  • #2,981
  • Oct 19, 2010 8:32pm Oct 19, 2010 8:32pm
Quoting Radio
4hr only...in my exp when counter trading you make shorter profits instead of going for the home run. Bob is working out how to figure out which one is likely with the rsi divergence. On strong moves like this I personally will look for smaller profits. this is big news and unexpected. I think that the market was looking for a big reason to correct itself. So it was not a matter of if this would happen it was more like when was it going to happen.
on 4hr you would still be waiting for an entry
http://i688.photobucket.com/albums/v...onaut/10-9.gif...
That is a nice looking buy EA opportunity.
  • #2,982
  • Oct 19, 2010 8:56pm Oct 19, 2010 8:56pm
That was very clear - thanks a lot for your detailed explanation!

Quoting Prophit
Hi Teemo,

I believe that the correct sixths indicator (according to Bob's documentation for the system) is SIXTHS V5.2.

V5.2 does cause the lines to shift as you scroll back through the charts and is therefore not so good to use for back-testing purposes. However for trading purposes, it is the correct one to use as it should indicate correctly at the current price position at the right-hand edge of your chart.

This having been said, you must ensure that you have the chart set to 4Hourly window and it must display about 4 weeks of data. The...
"As Kids we believe Anything is Possible; the Trick is to never forget it!"
  • #2,983
  • Oct 19, 2010 9:46pm Oct 19, 2010 9:46pm
Quoting TallCoolOne
Hi Guys,

I cleaned up me EA a little and it should be entering trades per Bob's rules.

Not sure I understand how to apply Bob's RSI rules.

Thanks!
Your Jumping stop doesn't seem to work? Nor you BE stop. Didn't test TS yet.

Also, it doesn't seem to take all the trades.

Price breaking out of TMA right, then crossing MA.



Also, including the TMA ATR variable along with the MA cross and the variation of price or MA cross TMA line, then I think you have a system that can be very optimized per currency.

This is good coding though. I still have to check out McKeen's.

We are our own best indicator.
  • #2,984
  • Oct 19, 2010 10:30pm Oct 19, 2010 10:30pm
Hi,

I am testing the TMA 6.0 version and have placed 2x3 buy / sell orders on various pairs, but they have not taken trades at the expected entry point ( they have not taken trades at all )

When I examine the " experts " tab it is clear they have been trying to place trades but have generated an error message - " 6.0 2x3 LOW BUY AUDJPY,H4: AUDJPY OP_BUY #1 Buy Nanningbob order send failed with error(131): invalid trade volume "

The EA is set at default with 0.01 lot size, my broker is Alpari with a minimum lot size of 0.01 ...... any ideas as to why the trades are not being accepted ?

Thanks
  • #2,985
  • Oct 19, 2010 10:33pm Oct 19, 2010 10:33pm
Quoting nanningbob
That is a nice looking buy EA opportunity.

I know you saw it but it was on with a nice bright smiley face int he top right hand corner
  • #2,986
  • Oct 19, 2010 11:41pm Oct 19, 2010 11:41pm
Quoting jcs
Hi,

I am testing the TMA 6.0 version and have placed 2x3 buy / sell orders on various pairs, but they have not taken trades at the expected entry point ( they have not taken trades at all )

When I examine the " experts " tab it is clear they have been trying to place trades but have generated an error message...
Change the ECN setting from true to false or false to true. If that doesnt work turn off all TP and SL settings and go from there.
  • #2,987
  • Oct 20, 2010 1:22am Oct 20, 2010 1:22am
Quoting nanningbob
Change the ECN setting from true to false or false to true. If that doesnt work turn off all TP and SL settings and go from there.
After trying all the above and everything else I could think of and nothing worked I uninstalled and reinstalled the platform .... now placing orders ok

Thank you
  • #2,988
  • Oct 20, 2010 1:53am Oct 20, 2010 1:53am
Hi Bob. I'm still doing NB5 conservatively and bringing in pips but also started demoing 6 properly now. Last night I placed the buy/sell EA on 12 pairs all showing the correct setup for ATR and MAs. I am also using MPTM with your default settings 30/15.

Overnight all 12 had triggered with 2 closed at 15pips. So good a startso far. Although the 30/15 setting for MPTM seem a little tight for the H4?

One thing I am not sure about is the RSI. I have RSI (14) but I placed the above trades with only a glance at RSI to see if it is high or low.

Can you please clarify what RSI settings to test with? I think you said you wait for the RSI to be at the right level before placing the EA, but I think by the time the EA tiggeres the RSI could have moved on?

Many thanks.
  • #2,989
  • Edited 2:20am Oct 20, 2010 2:06am | Edited 2:20am
Quoting Prophit
Hi Teemo,

I believe that the correct sixths indicator (according to Bob's documentation for the system) is SIXTHS V5.2.

V5.2 does cause the lines to shift as you scroll back through the charts and is therefore not so good to use for back-testing purposes. However for trading purposes, it is the correct one to use as it should indicate correctly at the current price position at the right-hand edge of your chart.

This having been said, you must ensure that you have the chart set to 4Hourly window and it must display about 4 weeks of data. The...
Well, sure confused me ....

The later sixths indis have nothing to do with back testing, but everything to do with being able to input your own look back number of bars to use.

If you input exactly the same number of bars that you can see visually on your screen when using v5.2, you will see lines in exactly the same places.

The advantage of the later indis is that if you zoom in, the lines stay where they should be, not recalculate to your new (temporary) screen size.

Check out my earlier post here
http://www.forexfactory.com/showpost...&postcount=753
  • #2,990
  • Edited 8:59am Oct 20, 2010 3:26am | Edited 8:59am
Tuesday
GJ -81
nzdusd +3 Had my wife close this trade out...she told me +30 and I have a 5 digit criminal...lol
AU 20
net -58

Wed-closed
EU +40
AUDJPY +22
GU +28
I still have 7 trades open with net DD hovering between -35 and -85 pips that is a rough estimate. curious to see how these trades turn out with the large about of movement yesterday. Maybe bob can get China to go back on the 1/4 point. That would shake things up.

open trades are
Eurcad short (the dog of the bunch)
chfjpy long
gj long
ej long
nzdjpy long
uchf short
ucad short

These are all live trades with version 6.0
  • #2,991
  • Oct 20, 2010 3:56am Oct 20, 2010 3:56am
Quoting macman
Well, sure confused me ....

The later sixths indis have nothing to do with back testing, but everything to do with being able to input your own look back number of bars to use.

If you input exactly the same number of bars that you can see visually on your screen when using v5.2, you will see..........................
Thanks for the clarification Macman. My sincere apologies to Teemo and anyone else who may have been mislead by my incorrect interperetation.

Good trading to all,
Mike
  • #2,992
  • Edited 4:20am Oct 20, 2010 4:10am | Edited 4:20am
Quoting Zr-fx
Hi Bob. I'm still doing NB5 conservatively and bringing in pips but also started demoing 6 properly now. Last night I placed the buy/sell EA on 12 pairs all showing the correct setup for ATR and MAs. I am also using MPTM with your default settings 30/15.

Overnight all 12 had triggered with 2 closed at 15pips. So good a startso far. Although the 30/15 setting for MPTM seem a little tight for the H4?

One thing I am not sure about is the RSI. I have RSI (14) but I placed the above trades with only a glance at RSI to see if it is high or low.

Can...
If you reset the RSI to 3 you will still get approximately the same highs and lows but they will visually be easier to see. I am experimenting with turning on the EA when RSI is High or low 85/15 and outside the TMA bands. This seems to filter out getting in too early with the EAs. The 30/15 setting I think will be good if there is no divergance in the RSI but not good if there is divergence. I am thinking of no MPTM with divergance or 40/30 with divergance. In other words to me divergance and being outside the bands is a really good trade and you need to let it run and develop. If there is no divergence then you have a chance it will run some more so I will take the quicker profit around 20-50 pips.

As far as RSI trigger goes, once it gives you the positive sign you take the trade whether it stays or not. So if it is above 85 but it moves down below the 85 and then the EA triggers that is still a good trade. We want the trend line break for our entrance. It is true RSI may no longer be above 85 at the trendline break but that is still a valid trade. The RSI above 85 or below 15 and above/below TMA is only a signal. The break of the trendline is our entrance. Read up on trading trendlines to understand the trading concept. What we are really doing is filtering out bad trendline trades and saying this is a real high reward low risk trendline break trade. That is really what 6.0 is.

I think that will fit very well the new rules we in the USA will face. I believe Japan has already instituted the new rules and I am sorry to say other countries will probably follow down the road. So this system is my best answer to the new regs. If it wasnt for that and my belief they will be instituted elsewhere eventually, I would still be trading 5.0 I wish I was wrong but that is my belief.

I also believe the markets are going to get more volatile making the BB approach of 5.0 less desirable. Keeping the top and bottom of the trades open for unexpected volatile moves maybe a wise choice in trading. I see the CAD did this Monday and 6.0 stayed out across the board. Unfortunatelly this will become the new norm in Forex for now so I adjust my trading habits to fit this new norm. This is following fundamental trading philosophy. Then again I may be full of SH............... in my beliefs but I think this will be the new reality. So my trading system reflects my beliefs and the 5.0 system will face some difficult times until markets go back to being normal. I love 5.0 and I think it is a very effective trading system but if the world economies slow down, which I believe they are going to do, then long unretracing trends are going to be more frequent in the future. Those types of moves are the achilles heal of 5.0. 1-3 a month was no problem I won more than enough to cover for them but 6,8,10 a month is deadly. Just trying to be open and honest with my self and fellow traders. Knowing the strengths and weaknesses of your trading system goes a long ways to being profitable. You must know that every system has strengths and weaknesses, that is just being honest about your self.
  • #2,993
  • Oct 20, 2010 6:10am Oct 20, 2010 6:10am
Quoting nanningbob
If you reset the RSI to 3 you will still get approximately the same highs and lows .....
Thank you Bob. Very clear answer.

I am glad to say that 7 out of the 10 open TMA trades are showing profit. The other 3 at just below BE
  • #2,994
  • Oct 20, 2010 7:28am Oct 20, 2010 7:28am
I also started with the TMA Testing of version 6.

I am only using the top 10 pairs to trade and ease myself in.

For TP I am using the MPTM 30+15 if I am away from the the screen or I just use the middle of the TMA as a TP zone if price is running.

The last 24 hours has been really exciting with numerous trades. Here is a list of my Closed trades and Open trades with a total of 130 pips banked at this stage.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: TMAVersion6Oct20.jpg Size: 76 KB
Click to Enlarge Name: TMAVersion6Oct20open.jpg Size: 25 KB
  • #2,995
  • Oct 20, 2010 8:20am Oct 20, 2010 8:20am
First time I use the recovery system, feels good to break even (I did enter too early the L2's though, taking a note)
I am going to use the TMA now but I have a question :

Will you do a 5.4 with TMA ? Are you planning to keep support the NB v5 ?
Will the v6.0 be usable and interesting for non US traders ? Are you going to do a method using v6.0 that doesn't take your new regulations into account ?
What would be the advantages of this new method if you are not under those regulations ?

thanks !!
  • #2,996
  • Oct 20, 2010 8:42am Oct 20, 2010 8:42am
Quoting Muten
First time I use the recovery system, feels good to break even (I did enter too early the L2's though, taking a note)
I am going to use the TMA now but I have a question :

Will you do a 5.4 with TMA ? Are you planning to keep support the NB v5 ?
Will the v6.0 be usable and interesting for non US traders ? Are you going to do a method using v6.0 that doesn't take your new regulations into account ?
What would be the advantages of this new method if you are not under those regulations ?

thanks !!
Good questions. For now I wont be trading 5.4 as long as 6.0 works well. Basically I traded the TMA for the 6ths and the RSI for RWB. I use trendline breaks instead of BB. System and philosophy is similar. Because i had such a bad experience with a non USA broker I decided to stay in the USA for now and see if I can work with the new system of rules. If I can then I will stay with the TMA. If I cant then ................... who knows,

The advantages are the TMA RSI reads seem to be better at this point than the sixths RWB, however only time will tell. Wont really know until we get another bummer month and then see how well this system survives on the long non retracing runs. Hopefully it will fair better. If it does, we wont be looking at any more trading systems.
  • #2,997
  • Oct 20, 2010 9:05am Oct 20, 2010 9:05am
Quoting Radio
Tuesday
GJ -81
nzdusd +3 Had my wife close this trade out...she told me +30 and I have a 5 digit criminal...lol
AU 20
net -58

Wed-closed
EU +40
AUDJPY +22
GU +28
I still have 7 trades open with net DD hovering between -35 and -85 pips that is a rough estimate. curious to see how these trades turn out with the large about of movement yesterday. Maybe bob can get China to go back on the 1/4 point. That would shake things up.

open trades are
Eurcad short (the dog of the bunch)
chfjpy long
gj long
ej long
nzdjpy long
uchf short
ucad short

These are...
Eurcad short (the dog of the bunch) -80
chfjpy long +50 tp hit
gj long +33 closed manually
ej long +15 mptm hit
nzdjpy long +32 closed manually
uchf short +50 tp hit
ucad short +10 closed manually

I know that if I would have let most of these open I could have made more, but it hard to know for sure if they would have hit the +15 set my the MPTM

daily net 200 pips exactly...

week net +341
  • #2,998
  • Oct 20, 2010 9:56am Oct 20, 2010 9:56am
Beginning to really like this. Since posting this system last Friday I have been 27 and 4. Here is my Chart. GBP/USD is now 120+ giving me my fourth 100+ PIP trade this week. Dang that is really good.
Attached Image (click to enlarge)
Click to Enlarge Name: DetailedStatement.gif Size: 5 KB
  • #2,999
  • Oct 20, 2010 10:07am Oct 20, 2010 10:07am
Oooooooooopppppppps made a mistake Three more profits now 30-4 for the week.
  • #3,000
  • Oct 20, 2010 10:34am Oct 20, 2010 10:34am
what a good day huh guys??? this is the picture perfect day for this system.

I wish i would have been implementing the close ea but i have had the mptm set at 20-5 and 30 pip jump. so i have left many pips on the table but still.........

It was a damn good feeling to have 10 open trades when you get up in the morning and EVERYONE IN PROFIT!!!!

now all trades are currently closed for me and im gonna adopt the close ea instead of only using the mptm to close for me.

ended the day with 240.9 pips banked 0 floating trades

(btw: these results are from ver 6.0)
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