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Nanningbob 4h trading system ver. 5.0

  • #3,301
  • Nov 8, 2010 11:33am Nov 8, 2010 11:33am
Quoting Mixer
Can help me to understanding what BOB meant in point 2 above?
Let's see if I understood correctly as well: you have the next 2 candles (8 hours) to see where your trade is going... If it crosses BACK (2ma vs. 5ma) - against you - take your loss and move on... If it goes your way (2ma vs. 5ma) - you can BOOK your profit then - or leave it running for extra profit...

I believe it's a different way of trading which requires you to at least look on your charts every 4h period to see where you are at the time... Either close orders, keep them open, etc. The MPTM is key for me and the success of this trading plan... I only want 1% a day...

I like it - so far - no trades for me with the 6.1 system - but - all the EUR pairs might hit with BUY's and I'm also waiting for a small sell on the USDCHF (contrary to the EUR)... Will see how it all works out on a DEMO account... I do like the system and the power it provides...
  • #3,302
  • Nov 8, 2010 11:35am Nov 8, 2010 11:35am
Quoting jtmoore007
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!!
Let us know how everything is working for you! I also have most of the charts up - but I've only added the EA's to the charts I see are about to hit the entry... Trying to learn more about the system this week.

Also need to learn this week about recovery... Haven't touched on that yet!

Which broker are you using for your live and demo accounts? I'm with IBFX here in the states... Looking for another broker with pennies accounts...
  • #3,303
  • Nov 8, 2010 11:56am Nov 8, 2010 11:56am
Quoting spgandau
With your 2MA x 5MA, I may be able to incorporate this into my current plan....
How did you get the two TMA's on there?
  • #3,304
  • Nov 8, 2010 12:00pm Nov 8, 2010 12:00pm
Quoting sebring001
How did you get the two TMA's on there?
just add another tma and change from 2.0 to 2.5 or 3.0 or however wide you want them spaced
  • #3,305
  • Nov 8, 2010 12:02pm Nov 8, 2010 12:02pm
Quoting maestrodforex
Let us know how everything is working for you! I also have most of the charts up - but I've only added the EA's to the charts I see are about to hit the entry... Trying to learn more about the system this week.

Also need to learn this week about recovery... Haven't touched on that yet!

Which broker are you using for your live and demo accounts? I'm with IBFX here in the states... Looking for another broker with pennies accounts...
im with IBFX also here in the states.

i have one live standard and one live mini account with them. IBFX has pennies already - mini account!

i haven't had any problems out of them. i just hate the new rules but what can you do?!
  • #3,306
  • Nov 8, 2010 12:04pm Nov 8, 2010 12:04pm
Quoting maestrodforex
Let's see if I understood correctly as well:...
Bob is trying to avoid runners. The MPTM shows it beauty only after it moves in your favour to some degree. If prices reverses quickly after entry it doesn't do much good unless you have a hard stop less somewhere.

Bobs cross will get you out sooner with a small loss if it reverses immediately and keep you in if it doesn't.
  • #3,307
  • Nov 8, 2010 12:05pm Nov 8, 2010 12:05pm
Quoting jtmoore007
just add another tma and change from 2.0 to 2.5 or 3.0 or however wide you want them spaced
Naw....he's got a 1 hour and 4 hour on the same chart..
  • #3,308
  • Nov 8, 2010 12:54pm Nov 8, 2010 12:54pm
Hello,

I'm relatively new to this thread (just found it this past weekend). I spent most of the weekend setting up Version 5.2 and 5.3. Today, I come to page 221 of this thread and find there's at least 2 new upgrades I haven't yet located. Is there any Index for this thread? I've seen other threads where someone was kind enough to index the major points of interest and post links to it either in the first page or somewhere on the thread. Hopefully someone has done that with this one.

fxbr
  • #3,309
  • Nov 8, 2010 1:06pm Nov 8, 2010 1:06pm
No doubt runners are a blow to this system (using 6.0) but no EA handles every market condition. There is no grail as we all know. I appreciate the relentless efforts to try and improve this system. However, trading against strongly trending markets is a lot like Russian Roulette. Sooner or later you're dead.

I have been doing well with 6.0 just trading the ranging marekets where the TMA lines are flat. The boundaries are well defined. The rules of the game can be seen. Those markets I trade both the highs and lows, take my money and run.

In the trending markets I only trade off the low bounce in an uptrend and the high bounce in a down trend. My little trading volume will never turn the market so I don't fight mother nature. The big boys and crims draw deep lines on my charts and I don't challenge them when they are moving them.

Thanks NB and everyone here for developing a great system that works fabulously in ranging markets. I am thankful for what NB's system and the market gives to me and will stand and watch when it does not.

-ej5
  • #3,310
  • Nov 8, 2010 1:47pm Nov 8, 2010 1:47pm
Quoting ejohnston5
No doubt runners are a blow to this system (using 6.0) but no EA handles every market condition....
i'm allowed to correct this a little bit, sir?
you know that with this system there we use oscillators. this kind of indicators are leading indicators. they give a hindsight where the market could be and where it could move in the future. the indication of oversold/overbought territory doesn't mean that price will turn everytime, but the probability that price will turn the longer the indicator is in oversold/overbought area. the difficult to distinguish is if the candles get smaller and smaller because of weaken momentum.
the next indicator here with V6 is the TMA. A band indicator which shows, in conjunction of volatility, if price is exaggerated after trend or correction.
and we have the simple MA's.

this mixture of leading and lagging indicators gives you all opportunities to trade every scenario you like. it doesn't matter if market is in trend, correction or sideways mode.
the technic how you interpret all signs of indicators AND market situations combined with Moneymanagement gains your account the profit.
but yes i agree with you. no EA handles all market situations, but if you know what your EA does you can switch them on or off.


Mediator
  • #3,311
  • Nov 8, 2010 1:49pm Nov 8, 2010 1:49pm
Quoting sebring001
Naw....he's got a 1 hour and 4 hour on the same chart..
then use mtf TMA its on this thread somewhere
  • #3,312
  • Nov 8, 2010 2:17pm Nov 8, 2010 2:17pm
Quoting jtmoore007
im with IBFX also here in the states.

i have one live standard and one live mini account with them. IBFX has pennies already - mini account!

i haven't had any problems out of them. i just hate the new rules but what can you do?!
Exactly - I guess we are all with ibfx here in the states if we want a simple pennies account with internet control panel and all. I've setup a couple of demo terminals with ibxf (different installations so they can run @ the same time) and my live account as well. But I'm not trading yet. I was thinking of throwing The Beast to just one pair = EURUSD on my live account and see how it does for the rest of this week...

Thanks for the info... How's the v6.1 going with you?
  • #3,313
  • Nov 8, 2010 2:20pm Nov 8, 2010 2:20pm
Quoting sebring001
Bob is trying to avoid runners. The MPTM shows it beauty only after it moves in your favour to some degree. If prices reverses quickly after entry it doesn't do much good unless you have a hard stop less somewhere.

Bobs cross will get you out sooner with a small loss if it reverses immediately and keep you in if it doesn't.
Correct - so it might be wise to then set maybe a 100 or 200 stop loss (hidden) and manage each trade separate with the MPTM... Just a thought! What do you think?
  • #3,314
  • Edited 3:56pm Nov 8, 2010 2:39pm | Edited 3:56pm
Quoting maestrodforex
Correct - so it might be wise to then set maybe a 100 or 200 stop loss (hidden) and manage each trade separate with the MPTM... Just a thought! What do you think?
We could do it that way but it would lead into a larger drawdown if it gets hit. With the moving average cross, it will be less and potentially avoid a runner.

Every system has a market condition that is least desirable for its method and this system is no different. Trending markets hurt this system and it is the reason why Bob and others are coming up with methods to overcome it. It is unavoidable, but it can be managed.
  • #3,315
  • Nov 8, 2010 4:39pm Nov 8, 2010 4:39pm
Quoting sebring001
We could do it that way but it would lead into a larger drawdown if it gets hit. With the moving average cross, it will be less and potentially avoid a runner.

Every system has a market condition that is least desirable for its method and this system is no different. Trending markets hurt this system and it is the reason why Bob and others are coming up with methods to overcome it. It is unavoidable, but it can be managed.
I don't quite get your reply - or maybe I didn't explain myself good either... My point is - if I'm not watching for the next 8 hours - then for sure I want to have a 100 pip stop loss because it will protect my trade from going against me while giving it some room to move... So if i have MPTM managing that trade with a hidden 100 stop loss and the normal 50+20 (to set the break even and jump) then I should be fine on any particular trade the system takes - by me taking the trade at the correct entry of the 2ma crossing the 5ma also using the MACD - RSI for more confirmation of the trade...

No? Yes? Maybe?

Maestro
  • #3,316
  • Nov 8, 2010 4:49pm Nov 8, 2010 4:49pm
Quoting Mixer
Can help me to understanding what BOB meant in point 2 above?
On a 4H chart a candle is 4 hours so two candles or approx 8 hours you decided to stay in or get out. If price has not made a move, get out because it probably will move against you in the future.
  • #3,317
  • Nov 8, 2010 4:55pm Nov 8, 2010 4:55pm
Quoting maestrodforex
I don't quite get your reply - or maybe I didn't explain myself good either......
These type of questions get answered as we become familiar with the system and lean how to use it.
  • #3,318
  • Nov 8, 2010 5:00pm Nov 8, 2010 5:00pm
Quoting nanningbob
These type of questions get answered as we become familiar with the system and lean how to use it.
Wow - well said Nanningbob - I am really happy that I came back to this thread and I am learning this system along with you. Now - I have a question - I will post an image and see if I'm correct...

From the image I can see that the 2ma might cross the 5ma giving me an entry into the system... Correct? Maybe?

Now - how do I pay attention to the indicator below - MACD, etc? Do I only take the trade when all the lines - averages - are above or below the 85 and 15 respectively? I seem not to understand that part well enough...

Thanks Nanningbob...
Attached Image (click to enlarge)
Click to Enlarge Name: audjpy - entrance.jpg Size: 148 KB
  • #3,319
  • Nov 8, 2010 5:02pm Nov 8, 2010 5:02pm
Well - then I see this - and it looks like a better entry getting ready to happen... Correct?

=
Maestro
Attached Image (click to enlarge)
Click to Enlarge Name: euraud - good entrance.jpg Size: 148 KB
  • #3,320
  • Nov 8, 2010 5:40pm Nov 8, 2010 5:40pm
Quoting maestrodforex
I don't quite get your reply - or maybe I didn't explain myself good either......
I see. It makes sense from that perspective. Give it a try and share with us the results.
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