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Nanningbob 4h trading system ver. 5.0

  • #3,281
  • Nov 7, 2010 5:53am Nov 7, 2010 5:53am
Quoting Mediator
@Free99

i maybe did not explain my entry situtation correct to understand the MTF advantage.
for me it is first important if price CLOSE outside the TMA Band within the higher TF (4h for example). i than switch to lower TF for an entry. now it is important for me, that price also close outside TMA band and for LONG entry the black MA has to cross the Red MA and for SHORT the Blue MA.
with this i give the price more time for a safer entry. if i would take for LONG the cross of the Blue MA i'm in the market to early.

at your 5min picture the entry...
Actually what you are teaching is very good. Because of my job I am not able to trade this way unless I happen to be lucky enough to be at my computer when this happens. Feel free to teach this, I am comfortable with this approach. If someone made an indicator that warned you when this happened it would be a great indicator.
  • #3,282
  • Nov 7, 2010 6:32am Nov 7, 2010 6:32am
Quoting nanningbob
yes, the system works if you have both the money and leverage to trade it.
Just to confirm that I've now been trading NB 5.3 live for about 2 months and continue to make good profit. I have seen some drawdown which gave me the opportunity to practice my recovery skills but so far my profits have always been greater them my DD. The nice thing has been that when one or a few pairs are in recovery the other pairs still chip in with profits to boost the account.

I've funded my account to the point where I can go to about 9000pips in DD. Mind you, when I get to 7-8000 I think I will feel the need to put some more money into the account. As (if?) my account builds I plan to increase the lotsize as well as increase the number of pips I can go into drawdown. This may slow down my progress but it will make me sleep better at night.

On a sidenote, I was a millionaire for a while yesterday. Got a note for 20mil Zimbabwe dollars Not sure about the value but the number of zeros just looked impressive on a single note.
  • #3,283
  • Nov 7, 2010 6:59am Nov 7, 2010 6:59am
Quoting MorningMania
Just to confirm that I've now been trading NB 5.3 live for about 2 months and continue to make good profit. I have seen some drawdown which gave me the opportunity to practice my recovery skills but so far my profits have always been greater them my DD. The nice thing has been that when one or a few pairs are in recovery the other pairs still chip in with profits to boost the account.

I've funded my account to the point where I can go to about 9000pips in DD. Mind you, when I get to 7-8000 I think I will feel the need to put some more money into...
lol I have a couple of hundred thousand Vietnamese notes, maybe I can fund an account with those. Great idea. Do they have a Forex broker there??
  • #3,284
  • Edited 12:14pm Nov 7, 2010 11:59am | Edited 12:14pm
As long as we dont take every signal and limit our trades with 1 or 2 trades at a time even a small leverage will give enough room for a recovery trade.
I respect Bob's view on monthly returns( he claims that 5 percent a month is not worth the time he puts in unless he increases his capital. Even an account with $25000 will bring only $1250 on monthly return, which can not make a living)
Version 5.3 is too good to be given up on whatever reason.
Ps: If 1 cent per pip is not enough on monthly returns, and 10 cents is too high, why not trade 2 cents per pip or even 4, 5 cents?
  • #3,285
  • Nov 7, 2010 4:27pm Nov 7, 2010 4:27pm
Quoting The7
As long as we dont take every signal and limit our trades with 1 or 2 trades at a time even a small leverage will give enough room for a recovery trade.
I respect Bob's view on monthly returns( he claims that 5 percent a month is not worth the time he puts in unless he increases his capital. Even an account with $25000 will bring only $1250 on monthly return, which can not make a living)
Version 5.3 is too good to be given up on whatever reason.
Ps: If 1 cent per pip is not enough on monthly returns, and 10 cents is too high, why not trade 2 cents...
There is nothing wrong with your point of view. It is a personal decision. What is my time worth? How much many am I willing to risk? These are personal decisions. For me, to risk 25K on a broker out of country is absurd. Other people do not have a problem with that. For me to put 25K with a USA broker and get 2-3% return is not worth it. Especially when one news story can really damage an account. I can do better putting it into a business. I would feel better with the risk.

I like Forex trading but I expect a certain return for my time. I am patient to wait and learn this business but I have been in businesses for a long time and I know what I can do elsewhere. The problem is not 5.3 the problem is the new regs and my personal belief systems. How do I handle and how do I risk my money.

I am in China starting and running a school. So risk is part of my nature but it has its limits. I have the only foreigners school probably within a 1000 miles of any other. High risk but potential high reward but there were limits on what I would spend or do financially. I refused to borrow money for this adventure but I did sell everything I had and put it into it. So far it has been worth it.

If you understand my reasoning and logic you can continue with 5.3 and I will help you. But right now I am not willing to invest the money and place it with a forex broker. I may change my mind later but not now.
  • #3,286
  • Nov 7, 2010 4:34pm Nov 7, 2010 4:34pm
NB - Can you start a new thread with v6 as having both 5 and 6 here may get confusing. Can you state as usual in post #1, the rules. Thanks
24 hours in a day – 24 bottles of beer in a case – Coincidence? I think not
  • #3,287
  • Nov 7, 2010 5:29pm Nov 7, 2010 5:29pm
Quoting nanningbob
Be glad to have you help but I am not sure. I would need to write the manual and maybe have you check it. I think 6.1 has potential if my theory holds water.
hello Nanningbob and jva. I had to make my own. the thread got so long, that I could not keep up. I wrote this for myself to help me sort through what was NB's systems and what others were thinking. I have written 3 *.docs a) one to install the system on my FX acct. b) on to set up the correct charts with correct time frames, c) one to remind me how the system is supposed to work.

You are welcome to what I have done for myself. I don't guarantee that all is exactly as NB originally set it up, as some changes along the thread were made. Use it, modify it; hopefully, it may be of use to someone else.

Regards,
spgandau..,
Attached File(s)
File Type: doc NB ver6.0 2x3 TMA CHART setup procedures.doc   12 KB | 622 downloads
File Type: doc NB ver6.0 2x3 TMA UNZIP and install.doc   17 KB | 1,661 downloads
File Type: doc NB ver6.0 2x3 TMA EA trading instructions.doc   298 KB | 1,440 downloads
  • #3,288
  • Nov 7, 2010 6:22pm Nov 7, 2010 6:22pm
EG long at .8692...I made a template with some adjustments.
http://i688.photobucket.com/albums/v...tronaut/11.gif
  • #3,289
  • Nov 7, 2010 6:55pm Nov 7, 2010 6:55pm
Quoting matrixebiz
NB - Can you start a new thread with v6 as having both 5 and 6 here may get confusing. Can you state as usual in post #1, the rules. Thanks
Yes I will do that. This is going in a different direction than I originally thought. Get to it later today or tomorrow.
  • #3,290
  • Nov 7, 2010 8:20pm Nov 7, 2010 8:20pm
Quoting nanningbob
I tried it on a 1H chart and got caught several times in a large DD. However, I am not home all day but working so I cant get out of trades or not do some trades at key moments. That is why I use a 4H chart. I was not happy with the 1H results. I was not happy with my 4H results with 6.0. Still getting too much DD in strong trending markets. I am searching for a solution on that issue.

Trend traders do well in these type of markets but they only happen occasionally as...
With your 2MA x 5MA, I may be able to incorporate this into my current plan.
Currently, I am using the 1h chart, with 4h TMA settings, as my primary indicator. I also have set up the 56,2.0, 100 TMA settings on the same chart, so I can "see" a potential 'runner' of price. When the smaller TMA setting breach the larger TMA settings, I consider the trade to be a runner and will NOT open the EA. I will wait to see if the price breaches the outer bands of the smaller TMA settings.
If price breaches the low band of the sharply up-sloping TMA, I will enter with a BUY. I may enter a SELL of the same UP sloping band if price breaches the high band of the small TMA. Then, the EA will wait until the 4MA crosses both the 6MAshifted4 HI and 6MAshifted4 low. That way, I am protected from a continued runner, even if price penetrates the high band of the TMA.
I will evaluate the 2x5 cross and let you know, over the next 3 weeks or so.
Regards,
spgandau
Attached Image (click to enlarge)
Click to Enlarge Name: audjpym 60m tma repaint test 20101105end.gif Size: 74 KB
  • #3,291
  • Nov 7, 2010 8:32pm Nov 7, 2010 8:32pm
Is there something up with the EURXXX pairs? I noticed that most of them are going down (sell) fast?
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  • #3,292
  • Nov 7, 2010 8:39pm Nov 7, 2010 8:39pm
short at 82.22- a L2 recovery
http://i688.photobucket.com/albums/v...onaut/11-1.gif
  • #3,293
  • Nov 7, 2010 10:46pm Nov 7, 2010 10:46pm
Quoting Mixer
Is there something up with the EURXXX pairs? I noticed that most of them are going down (sell) fast?
That is the problem of Forex when price moves based on rumors and not fundamentals. Price ran up in anticipation of the FEDS purchases of debt but now that it has happened price cant be sustained because the European Economies arent doing that well either. They still have several countries that could default down the road and other than Germany many of their economies are not doing well.

I am in the camp of economics that those who think the USA is going into hyper inflation are wrong. 100% debt to GDP ratio (just check your history books on that one) does not cause hyper inflation and banks are sitting on tons of money to lend out. The problem is there isnt enough economic growth or credit worthy customers to borrow the money to get it into circulation. The FEDS keep trying to push money into the economy but there is no mechanism for getting there. So the banks borrow money from the FED (.10%), they cant lend it out so the buy FED debt (2-3% ) and get a return and make a profit. (What most people dont realize is the majority of the debt the last two years has been purchased by USA interests not foreign countries) This leads to no real inflation or economic growth. And taxpayers make up the difference in debt payments. That is what is happening in the USA right now. I wish I could play that game and be a bank.
  • #3,294
  • Nov 8, 2010 12:43am Nov 8, 2010 12:43am
Quoting nanningbob
That is the problem of Forex when price moves based on rumors and not fundamentals. Price ran up in anticipation of the FEDS purchases of debt but now that it has happened price cant be sustained because the European Economies arent doing that well either. They still have several countries that could default down the road and other than Germany many of their economies are not doing well.

I am in the camp of economics that those who think the USA is going into hyper inflation are wrong. 100% debt to GDP ratio (just check your history books on...
Thx Bob for the insight.
Well, I'm in 3 trades of EURXXX so I hope that price goes back up as it always and all will be well!!!
LEARNING HOW TO FISH SO I CAN FISH FOREVER
  • #3,295
  • Nov 8, 2010 7:30am Nov 8, 2010 7:30am
I am up almost 100 pips today with one trade left running. I thought some pair would run but they did not. I could have banked 150 pip two hours into the jpy session but I decided to let them run and they all came back to my +5 TP. If I had done that and with the added 100 from the EURO session it would have been a great day. So the lesson is, if the JPY session gives you a bunch of 20-40 pip profits take them because they will usually retrace before the EURO session. I was 8 winners and 10 losers for the day but all my losers were small and all my winners were nice runs. Take out the 5 +5 and my 3 runners were bigger than my 10 losers. Interesting results. Cut my losers after 4-8 hours and let the winners run. So that is day 2 of 6.1. One trade left and it is in profit before I go to bed. I have it set to TP at +50 so we will see how it goes. The MPTM will make it +5 when it is at +20
  • #3,296
  • Nov 8, 2010 8:16am Nov 8, 2010 8:16am
Hi

I have not contributed much recently to this thread. This does not mean I have given up, just I have been very busy with work and family commitments recently.

For those of us who are not US citizens version 5 is still good viable system. However, due to the recent market conditions we have to be extra vigilant in how we trade it. For the last 3 weeks I am using Steve`s autotrader for version 5 with ultra conservative settings. This BOT enters on average 5 to 6 trades per week. For the last 3 weeks it has produced 480 pips profit with current DD of 140 pips. It may not be much for some people, but in the current climate I am more than happy with the results.

I will give version 6 my full attention as soon as I manage to resolve personal commitments.

Kind Regards
  • #3,297
  • Nov 8, 2010 8:46am Nov 8, 2010 8:46am
as astral77 i'm still using version 5 (i live in italy..) with wonderful results...i added the tma just to have an addictional confirmation (together with the dss bressert..)..
ps i take manual entry! (i'm a full time trader...)

great job bob!
  • #3,298
  • Nov 8, 2010 10:11am Nov 8, 2010 10:11am
Quoting spgandau
With your 2MA x 5MA, I may be able to incorporate this into my current plan....
As my previous post got deleted and I don't know why... I will try it again

Do you have your settings as a template file and could you upload it for sharing? Or would you share the settings of the indicator, so I can do it myself?
I will try to anticipate your work and map it to my M5 chart

thanks in advance
Andi
  • #3,299
  • Nov 8, 2010 10:37am Nov 8, 2010 10:37am
Quoting nanningbob
Just some more thoughts about your question.

Use TMA for direction of the cross you want to take. If it is angling up take the crosses up. If it is angling down take crosses down. If it is flat take both ways.

If above/below the sixths lines take both ways. That is my thoughts for now. Dont try to hold onto the trade after 2 bars if it is going nowhere or going against you. Look for your best exit.

Those are my thoughts for testing this week.

Well looks like we should one ea or the other on every chart with these rules. i have 20 charts pulled up and going by these rules i have 19 with an ea on it.

i like the time stop feature. i have been thinking about this myself after running into this massive DD.

im gonna demo 6.1 while trying to get rid of live DD from 6.0 slowly working its way down!!
  • #3,300
  • Nov 8, 2010 10:45am Nov 8, 2010 10:45am
Quoting nanningbob
So take a look at the template and check your DD trades. Would this have helped??

1. I am hoping this will help prevent early entrances.
2. When you enter you have the 8 hour 2 candle rule to keep you out of DD.
3. The third potential is after 8 hours do we want to enter and follow the trend.
Here is a pic of chf/jpy. You could have many small profits or BE and you also could enter at the break of Support to follow the trend. Just a thought for now. Saw this 2 days ago but have not seen it live long enough to decide. Is this a solution to my...
Can help me to understanding what BOB meant in point 2 above?
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