Nanningbob 4h trading system ver. 5.0

hi, r u sure u've got the right stoch settings? i see u're using a 14,5,3 instead of 14,3,5!

Hi

Bob always says that December is not a good month to trade due to the unpredictable nature of the markets and low volume. His advice has always been sound, therefore, having closed my positions on friday I am not trading till the new year (I think a lot of members of FF are doing the same). It is time for some RR and some R&D.

Kind Regards

I was just thinking a RWB alert would be nice!

In any event I love the system. I have been scalping using BB's (10 period BB touch to 7 EMA) on M15 with some success but had to quit because I wasnt using any additional filters, and one bad trade would wipe out all my earnings. So this is right up my alley. Plus H4 TF suits me also... although I may demo this on M15 on EURJPY Hmmmmmmm! Thanks for sharing!

Hi All

These are my results from nearly 3 months of demo trading System 5.3, Modified to include the TMA and BBs for signals, I don't use the sixths indy at all now. I'm using Povers panel to manage my trade entries (most of them are #2) and exits. in fact the panel brilliantly sets the TP for me......... I don't normally second guess it. I'm using a 1>1>1 recovery system which gives me huge depth and I really take care with my 2nd and third entries. actually i often reference the daily charts before making a final decision to pull the trigger. I've had some draw down but most of it centres around an E/A trade taken by mistake early on. I sometimes take a trade in the opposite direction as a short term hedge to off set a larger negative trade, taking the profit from the hegde to reduce the over all negative position, again the TMA is my guide for this.

This is a very good system that Bob has developed you just have to make it your own and believe that the answers are there. You just have to put in the time and learn how to make it work for you. Having said that I'm going live early in the new year...... thats when it becomes real.

Have a great Christmas if that's what you celebrate

James

60% in three months





Deposit/Withdrawal: 10 000.00 Credit Facility: 0.00
Closed Trade P/L: 6 040.64 Floating P/L: -1 971.09 Margin: 645.00
Balance: 16 040.64 Equity: 14 069.55 Free Margin: 13 425.03


Gross Profit: 8 312.14 Gross Loss: 2 271.50 Total Net Profit: 6 040.64
Profit Factor: 3.66 Expected Payoff: 25.17
Absolute Drawdown: 0.00 Maximal Drawdown: 258.73 (1.70%) Relative Drawdown: 1.70% (258.73)

Total Trades: 240 Short Positions (won %): 146 (74.66%) Long Positions (won %): 94 (76.60%)
Profit Trades (% of total): 181 (75.42%) Loss trades (% of total): 59 (24.58%)
Largest profit trade: 172.18 loss trade: -158.83
Average profit trade: 45.92 loss trade: -38.50
Maximum consecutive wins ($): 17 (785.37) consecutive losses ($): 4 (-29.00)
Maximal consecutive profit (count): 785.37 (17) consecutive loss (count): -258.73 (2)
Average consecutive wins: 4 consecutive losses: 1

Actually, I have an open order but the 2MA has not crossed the 5MA for me yet. I have DD from a previous trade and trying to use the new recovery method for BE.

Yes I am closing out all my trades now also with no new ones being added so almost done for the year. Will demo some to see if my newer ideas prevent DD.

Hey guys,

finally I managed to get to the end of the thread after my holidays and have time to post

My account is in deep DD now
I have AUDUSD, CADJPY and EURUSD short
but I can't seem to find recovery entrances
I have to say that I trade the system manually, so nothing with
going to bed and activating an EA...
anyone got some hints how to get out of my DD?
I think I have around 65%DD

best regards

Wow. I only hope your account is a demo. Not sure which system you're trading, but looking at the charts, you shouldn't be short AUDUSD or EURUSD, and the CADJPY just took a nice downturn today (which I missed) and should have given you some profit. I'm in DD on AUDJPY and CHFJPY because I missed the previous exit opportunity (I was asleep), and I'm only down about 2%. Some of the most successful traders risk no more than 5%, so if you really are down 65%, either close down, walk away and try poker or blackjack or maybe roulette, OR learn how to trade with more appropriate lot sizes. And maybe go back and re-read all the posts because you must have missed ALL of Bob's recommendations on lot size.

No the problem is that its my live account...
yes I missed the retrace too because I was asleep... thats the problem if you trade manually
I am using the minimum lot size my broker allows and thats 0.1
I trade the 6.1
the 65% happened because of several things I have to get "fixed"
my lack of discipline, a bit of greed, and the fact that I have missed several retraces the last 3 weeks because I was asleep or at work ...

I think you know as good as I do how hard it is to close this trades ... at least you know that it was hard for you some time ago

My last trade (long EG) closed out the old L1 and L2 from the weeks open with a little profit.

This is my 3rd month in a row in profit. I went live after about 2 weeks with the system.

Thanks Bob for some hope for the new year! I learned a lot this past year and am very thankful for this thread and all who have contributed along the way!


Right now I need a break am very busy at work with Holiday Parties so it is perfect time for me to close the Mt4 for the remaining of 2010.

I will see you all in 2011.

Happy Holidays to All!

Can anybody code the 'NB Meter signal' indicator w/ sound & pop-up alert??? Would be really useful don't ya think?

Just closed my final trade of the year, a 3 level recovery to BE on EUR/CAD which I had been sitting on after being on the wrong side of the market when the whole Ireland crisis came into play.

I too am profitable since I adopted the NB5.x method. I'm still learning every day how to get more out of it and especially when to stay away from the market (like I should not have left those eas on on the euro pairs with all the rumours over the weekend). The best thing though, is that even when I have taken a loss it came out of my profits, not out of my deposit.

Thank you Bob and all others who have contributed!!

What happen w/ cog? I send you a mail, is tht the way that I can comunicate w/ you ? Thanks

Hi Free

if your minimum lots are 0.1 that is $1 per pip. With NB system DD of 2000 pips is not that uncommon, therefore you would need balance of at least $10000 or better still $20000 to be comfortable. However, it seems you have to get your discipline and whole approach right before risking such large amounts. Please switch to demo for some time, if you can not do that and need the thrill of losing real money at least open a penny, nano account with a different broker and trade 1 cent a pip for a while. Only after being consistently profitable for more than 3 months switch to the bigger / live accounts. Lets face it we do not need to make the criminals richer by handing over our hard earned cash so easily. Best of luck for 2011.

kind regards

thanks for your advice. ok then my account is too small
I only have 1500€

can you recommend a broker with a micro account that I can use in germany and use the MT4 ?

I have COG, it is the same concept as TMA. Again it will give you a similar prediction to turn on the EA as TMA does. Again we do not enter from the Sixths, TMA or COG indicator it only tells us to turn on the EAs. They then enter the trade when when price reverses (MA EAs) or hits the top/bottm of their run (BB EAs) It really doesnt make much difference which one you use in Combination with the RWB indicator. They are all similar and will give you about the same indication to trade. Once price enters you will get price to go into profit 75-80% of the time. If you move your stop loss to profit you are in a no lose situation. You can allow the MPTM to do this for you if you are not around. Then you can decide to let price run and you take your profit or it can come back and hit your profit stop loss. If you dont get the take profit and price moves against you then you go into recovery. Of the 20-25% of the trades you use recovery on most will BE or profit on the first level, less than 10% will go to 2nd level and some will go to 3rd level. I experience 1-3 trades a month that will go to a 4th level on the average unless there is a big news story out there like interest rate changes or govt./bank bailouts. We have had one major interest rate change (Aud) this year, 2 major govt. bailout stories (Greece and Ireland), and USA QE2 (another form of govt. bailout) that has caused the 4th level (in which you take a L1 loss) to go more than 3 times a month this year. These type of fundamental news stories play havoc on my system. Using another indicator or form of indicator does not change the trade reads on my system or prevent news stories to cause price to move beyond the range of my system. We simply take the loss and go on. Changing to another indicator whether it is COG, TMA, True TMA, Sixth or Sixth that runs on only 120 bars or other forms of MACD or STO lines and all other variations will not change the effects of super news stories. These indicators or any other indicator does not prevent the long runs caused by super news stories, etc. COG and TMA are about the same and will give you similar entrance reads and will have the same problems with super news stories. You just trade what the indicators tell you when to trade and keep an eye on super news stories. When super news stories appear you just trade with more caution or close out losing trades quicker. I have done very well closing after 2 levels during the ending of the USA QE2 period and Ireland bailout. I will now recommend it very soon. I will write it up during the Christmas break and you can use it rather than the 2.4.2 or 1.1.3 recovery systems, especially during super news stories. I kept my account going up or level during this last period of news rather than taking the bigger hits of the other recovery systems. My win ratio dropped to 65% rather than my usual 80% but the DD was much less but my account increase was lower also. So there are pluses and minuses with every change you make in a system. Whatever improvement you think COG will make it also will have a downside. I will also have more guidance with take profits and money management when I update to 5.4. 5.4 will also have goals on how to become successful slowly over a period of years and set goals of becoming financially independent. I will try to show how you can take 1000 dollars and over a period of 5-8 years and turn it to a nice retirement nest egg. With these type of realistic goals you will be more willing to close out undesirable trades and keep your trading on track. I think updating to 5.4 and keeping this thread going will be better than doing a 6.2 or a new thread. I also want to restart my daily reports again with 5.4 and be the teacher again like I was earlier. 5.4 then will be my new trading benchmark. That is my plan during the Christmas break.

Hi, what's the New Recovery method? Thanks

That is my plan during the Christmas break.

As Steve says they are all criminals. a good penny mt4 broker is IBFX, you can open an account with their Australian branch so you can hedge and not be subject to the silly NFA rules. I have found FXDD Malta to be good as well for micro accounts. Just google mt4 brokers and you will see quite a few. however, the best way is to go through an "INTRODUCING BROKER", this way you can get some rebate on your trades. Google introducing brokers forex and you will see a few popping out. Introducing brokers get a commission from the forex companies and they will give some of that back to you, some of them have educational, indicator, EA and other services on top as well. You can get back around 0.4 to 0.7 pips from introducing brokers. I will not discuss brokers here again since there are other threads dedicated to this subject.
kind regards

I'm still waiting for Bob's final, after the holiday, but the last was to use any cross of 2MA over 5MA for recovery and close it if it doesn't develop within 2 bars.

This is why I use Bob's EAs... so I can sleep. I will still miss any that develop and profit during the London session if I don't have an EA on it.


Yes, the discipline and greed got me early too. Losing 25% of my account due to "set and forget" EAs was enough of a slap in the face for me. Now I risk 1% per trade and will raise it to 2% or so when I'm completely comfortable with recovery


No, it is not hard for me because I keep the trades small.