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Nanningbob 4h trading system ver. 5.0

  • #3,541
  • Dec 14, 2010 6:47pm Dec 14, 2010 6:47pm
thanks for the great thread bob, may I know are the latest EAs located on the 1st post?
Don't stop believing
  • #3,542
  • Dec 15, 2010 8:06pm Dec 15, 2010 8:06pm
Quoting makemillions
thanks for the great thread bob, may I know are the latest EAs located on the 1st post?
All official EAs are posted page 1. There are experimental ones posted elsewhere in the thread but page 1 are the ones I use. I hope to update everything during Christmas break next week. My last day teaching is Wednesday and then I want the update to be done before Christmas so I can close up trading for the year. I then will come back after the New Year and start trading every day again.
  • #3,543
  • Dec 16, 2010 3:49am Dec 16, 2010 3:49am
I would just like to take the opportunity to say thanks for a great system!

Here is a short summary of my story so far.

I started learning about forex in May and started demo of different strategies in June. In July I found out that scalping and staring at the screen waiting for the right setup was not for me, I needed something else.

I found this lovely system and started demo, it looked great so I started a small live account in mid August. In two weeks I was up 14%.

It went really well until the huge DD:s started in September. I learned the hard way not to have to many of one currency open. I got to practice the 242 and taking losses. -7% for September.

In October I added the TMA Centered to the standard 5.3 Templates, I still had a little DD from September, so overall October was a +1% month. When the price is outside the TMA I turn on one of the EA's, preferably #2 if also outside of BB.

November was great. I learned to take it more slow with an overall +18% increase for the month.

December, it started out nice with +15% for the two first weeks. I have used this months progress to close out the last remaining trades in DD. Overall +1% for December.

In total almost +25% since I started which I consider great!

Again, thanks for a great system and I'm looking forward to next year.
  • #3,544
  • Dec 16, 2010 12:35pm Dec 16, 2010 12:35pm
Quoting nanningbob

2. Weekly currency fact sheet is now ready. Shows the percentage a currency will move in one week for 28 currency pairs. I have color coded them into 5 major groups and showed them in groups of 300, 600, 900, and 1200 pip moves in a week. I think this will help you see the different types of volatility in a currency group.
Hi NB, where is this posted now?
Just looking for your opinion on what you feel is the most accurate time (DD) to start looking to apply your original Recovery method when pair goes into DD at so many pips. Do you basically just look back one week at the Highest high and Lowest low and see what the pip move (Trend move) was like?

Thanks
24 hours in a day – 24 bottles of beer in a case – Coincidence? I think not
  • #3,545
  • Dec 16, 2010 5:04pm Dec 16, 2010 5:04pm
Quoting matrixebiz
Hi NB, where is this posted now?
Just looking for your opinion on what you feel is the most accurate time (DD) to start looking to apply your original Recovery method when pair goes into DD at so many pips. Do you basically just look back one week at the Highest high and Lowest low and see what the pip move (Trend move) was like?

Thanks
It is found in sections 5.2B. I reenter at the MA cross when price moves around 200 pips against me or certain support or resistance lines. the 2 ma crossing the 5 seems like a good spot to me right now because I know within 8 hours if price will move in my direction or not.
  • #3,546
  • Edited 9:43am Dec 17, 2010 8:53am | Edited 9:43am
Quoting nanningbob
It is found in sections 5.2B. I reenter at the MA cross when price moves around 200 pips against me or certain support or resistance lines. the 2 ma crossing the 5 seems like a good spot to me right now because I know within 8 hours if price will move in my direction or not.
Ok because I have this damn NZD/CHF trade that is -330 pips and MA's have not crossed yet
So when they do cross, you wait and extra 8 hours before entering again to see if trend actually is reversing?

EDIT: if Scoobs is reading, any incite on if the NZD is going to start gaining strength again? Do me a favor and Buy a few Million NZD then Sell after my trades have closed Thanks
24 hours in a day – 24 bottles of beer in a case – Coincidence? I think not
  • #3,547
  • Dec 17, 2010 9:31am Dec 17, 2010 9:31am
Quoting matrixebiz
Ok because I have this damn NZD/CHF trade that is -330 pips and MA's have not crossed yet
So when they do cross, you wait and extra 8 hours before entering again to see if trend actually is reversing?
matrixebiz,

My understanding is that you enter on the MA cross, but give the trade 8 hours (2 bars) to move. If it doesn't move, exit the trade to prevent further potential losses.

Like I said, that is my understanding. Hope that's correct!

that-guy
  • #3,548
  • Dec 17, 2010 5:20pm Dec 17, 2010 5:20pm
I've been running The Beast for a while. I like the 5.2 mptm blank template to keep track of open trades on one screen. It works just fine on demo, but not on the live account. The chart remains frozen with currency pairs and numbers unrelated to my open trades. Is it a crim (IBFX) problem or is there a setting I can make to correct this? Thanks.
  • #3,549
  • Dec 17, 2010 6:24pm Dec 17, 2010 6:24pm
Quoting Inquisitor
I've been running The Beast for a while. I like the 5.2 mptm blank template to keep track of open trades on one screen. It works just fine on demo, but not on the live account. The chart remains frozen with currency pairs and numbers unrelated to my open trades. Is it a crim (IBFX) problem or is there a setting I can make to correct this? Thanks.
It maybe a RAM problem. Do you have enough RAM to run all your programs. I used to run 8 demos at once but I had to increase my computer to 8 RAM to do it. Running several MT4s with lots of EAs, indicators, screens and demos running can stall out your computer. You can check to see if it is a RAM problem by closing half of the currency windows. If it unfreezes when you are running fewer currency windows then RAM is your problem. Double check to see how many MT4 programs you are running. Also make sure your TEMP folders, recycle bin etc. are cleaned out every now and then.
  • #3,550
  • Dec 17, 2010 6:27pm Dec 17, 2010 6:27pm
Quoting matrixebiz
Ok because I have this damn NZD/CHF trade that is -330 pips and MA's have not crossed yet
So when they do cross, you wait and extra 8 hours before entering again to see if trend actually is reversing?

EDIT: if Scoobs is reading, any incite on if the NZD is going to start gaining strength again? Do me a favor and Buy a few Million NZD then Sell after my trades have closed Thanks
Sometimes a trade is just a bad trade. The NZD is from a small country of 4 or 5 million people and around Christmas it is the most erratic currency out there. Very little outside of country business is taking place so it just angles in one direction or spikes suddenly. The closer you get to Christmas the bigger chance you have of it not retracing.
  • #3,551
  • Dec 17, 2010 6:30pm Dec 17, 2010 6:30pm
Quoting blommah
I would just like to take the opportunity to say thanks for a great system!

Here is a short summary of my story so far.

I started learning about forex in May and started demo of different strategies in June. In July I found out that scalping and staring at the screen waiting for the right setup was not for me, I needed something else.

I found this lovely system and started demo, it looked great so I started a small live account in mid August. In two weeks I was up 14%.

It went really well until the huge DD:s started in September. I learned...
Yes that is great trading and keeping your expectations reasonable. When ever I post 5.4 a good portion is going to be on expectations and what is reasonable rate of return. Once you get expectations in line with reality you can approach your trading with a reasonable mindset. You should find it easier to close bad trades because they dont fit your predetermined goals you will set for yourself.
  • #3,552
  • Dec 17, 2010 7:13pm Dec 17, 2010 7:13pm
An easier way to check your ram is to do a CNTRL-ALT-DEL in windows XP. Choose Task Manager then choose performance and you will see immediately how much processor and memory you are using. Just sit and watch it for a min. I am constantly battling this issue...to dang many bots not enough memory. Sounds like an aging thing.

I know this is a trading thread but if you are running all of NB and SH's bots I know your computers are about maxed out like mine.
  • #3,553
  • Dec 17, 2010 7:22pm Dec 17, 2010 7:22pm
Quoting makemillions
thanks for the great thread bob, may I know are the latest EAs located on the 1st post?
Yes, everything else is in testing stage and some are using live. I am using some things live successfully and will teach them later.
  • #3,554
  • Dec 19, 2010 5:30pm Dec 19, 2010 5:30pm
Hi,

Thanks for such a great system and so detailed articles. I have read your articles and will forward test this week. I wonder should we open the EA1 for the GBP/USD now?
  • #3,555
  • Dec 19, 2010 6:05pm Dec 19, 2010 6:05pm
Quoting shiningstar
Hi,

Thanks for such a great system and so detailed articles. I have read your articles and will forward test this week. I wonder should we open the EA1 for the GBP/USD now?
I dont trade during Christmas time because there sometimes isnt enough business going on to cause the retracements my system relies on. I will be back after the new year. Remember Forex is not the stock market it exists for companies and countries to exchange currencies not traders to trade. traders are a very small part of Forex.
  • #3,556
  • Dec 19, 2010 6:17pm Dec 19, 2010 6:17pm
Thanks very much! Appreciate it.
  • #3,557
  • Dec 21, 2010 8:16am Dec 21, 2010 8:16am
Quoting nanningbob
I dont trade during Christmas time because there sometimes isnt enough business going on to cause the retracements my system relies on. I will be back after the new year. Remember Forex is not the stock market it exists for companies and countries to exchange currencies not traders to trade. traders are a very small part of Forex.
I would even go as far to say that markets aren't usually back to its self until mid january.
  • #3,558
  • Dec 21, 2010 3:32pm Dec 21, 2010 3:32pm
Quoting obnoxious2
I would even go as far to say that markets aren't usually back to its self until mid january.
You might want to consider buying GBPJPY for the following reasons.

1. The GBP is at a big low against the JPY.
2. An earthquake has hit the pacific area.

Scoobs.
  • #3,559
  • Dec 27, 2010 5:20pm Dec 27, 2010 5:20pm
Nanningbob,

First of all; thanks for all of this. I have been reading/learning over the past two weeks following a martingale blowout of my old system and going back to the forums to find a new one. I am able to incorporate many of my signals and refine my re-entry methods around yours so I am taking to this well. I am going to demo this for a month and then start back live sometime Q1 2011.

I know this system has evolved and been added to by yourself and others. A little constructive criticism; organize! I've been able to bounce around some of the redundant data enough to make my own template with indicators and understand the fundamentals but it was by no means a linear or easy process. It still got me to through the basic; so maybe it is just fine provided one has tenacity. I am going to do manual entries to start to understand the workings of the EAs; still don't completely trust machines with my money!

One thing I am confused about, after seeking your TP guidelines, is why they are so arbitrary. Your strategy seems very keen on finding perfect entries; using your initial indicators followed by EA's for best possible timed entries presumably for optimization AND not having to sit in front of a computer all day. But your TP have very rough guidelines. I find TP to be just as important as an entry. I also find when I go by my gut with anything in forex; my gut is wrong! I am surprised that you do not have a perfected EA for automated TP. Do you just prefer to go by the seat of your pants for this?

Thanks!
-Norok
  • #3,560
  • Dec 27, 2010 5:51pm Dec 27, 2010 5:51pm
Quoting Norok
Nanningbob,

First of all; thanks for all of this....
The problem with TP is the market is very arbitrary. For instance I will take that 30-50 pips during the Jpy session and whenever with aud and nzd pairs. Each currency pair moves based on its present Fundamentals and that can vary greatly. The GBP/USD may move 50 and the gbp/jpy may move 150 or 50 or -50 on the same day. There is no predicting profit targets for every single pair. I take a lot of trades and some of them will move into profit. I then take the profit. because counter trend trading is what it is. You catch the coutner trend and that maybe a big or small move. I have no way of predicting how big or small they are going to be. It is also very hard to know if price is actually going to change direction and now you are in a long run. Unless of course you know the fundamental force driving that particular currency. So I just take my profits every day and over time they add up. I do plan on adding some TP EA in which you put a TP EA on the screen and when price reverses and hits the line it takes the profit. Then you will only need to decide which time frame you want to take your TP on. Working on that now. So ............ taking profit is based on your knowledge of that currency which when you trade 20 pairs or so is impossible to know. So I take what the market gives me and go on. If I miss a big move sowhat, if I dont take it. I DONT LET WINNERS TURN INTO LOSERS.
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