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Nb 1.0 trend trade system

  • #581
  • Jan 12, 2011 7:06am Jan 12, 2011 7:06am
Strange.. I'm using steve bot manual for entry but as soon as it finish to manage a trade instead of suspend itself it open another trade and this in loop for many times.
Any suggestions?
  • #582
  • Jan 12, 2011 7:39am Jan 12, 2011 7:39am
OK...I now have my signal on Aussie for a short. Waiting for close of bearish HAS Randy Candle on 1m chart for entry.
  • #583
  • Jan 12, 2011 7:44am Jan 12, 2011 7:44am
...and now filled at SHORT 9925; SL 9965; Target 9825 See chart below..lets see how it pans out.
Attached Image (click to enlarge)
Click to Enlarge Name: aud-usd short entry 12-1-2011.gif Size: 35 KB
  • #584
  • Jan 12, 2011 7:51am Jan 12, 2011 7:51am
Quoting MephistoII
A question for Bob, or any other experienced system trader - when you begin live forward testing, how many weeks/months do you need to analyze results (assuming positive) before deciding to ramp up position size, using proper MM of course? Thanks ...
start a proper MM with your first trade. to gain profit is not depending with the system you use, it depence about you. to make an entry is emotional easy, but to manage your trade and exit is a very emotional process.
  • #585
  • Jan 12, 2011 7:59am Jan 12, 2011 7:59am
@Zuke
Sorry but I don't understand why you're taking a short here. There is an upper trendline resistance from the recent main highs but I can't see that you followed the entry rules from Bob's System.

Maybe I misunderstood something here. Could you explain this entry a little bit further please? Thanks.
  • #586
  • Edited 8:18am Jan 12, 2011 8:07am | Edited 8:18am
Quoting Flipsen
@Zuke
Sorry but I don't understand why you're taking a short here. There is an upper trendline resistance from the recent main highs but I can't see that you followed the entry rules from Bob's System.

Maybe I misunderstood something here. Could you explain this entry a little bit further please? Thanks.
Sure. Here was my rationale:

1. Price is below 240 MA = DT
2. Mid line of TMA is below 240 MA = DT
3. Given that we have a downtrend, I am looking for a retracement to the upper (red) band of the TMA. This occurs at 0.9930.
4. In Bob's strict rules, I would enter there BUT what I do is wait for the signal (0.9930) and then drill down to the 1m chart for entry.
5. On the 1m chart there was a bearish HAS Randy Candle which is my entry signal (0.9925)
6. My SL is 15 points above very strong Res at .9950 and within the 40-50 points suggested by Bob

Hope that all made sense? Cheers!
  • #587
  • Jan 12, 2011 8:14am Jan 12, 2011 8:14am
Quoting Zuke
Sure. Here was my rationale:

1. Price is below 240 MA = DT
2. Mid line of TMA is below 240 MA = DT
3. Given that we have a downtrend, I am looking for a retracement to the upper (red) band of the TMA. This occurs at 0.9930.
4. In Bob's strict rules, I would enter there BUT what I do is wait for the signal (0.9930) and then drill down to the 1m chart for entry.
5. On the 1m chart there was a bearish HAS Randy Candle which is my entry signal (0.9925)
6. My SL is 15 points very strong Res at .9950 and within the 40-50 points suggested by Bob

Hope...

I also forgot to add that there are some fundamental data points on this particular pair:

1. very poor job adverts numbers last night
2. poor retail sales number last night
3. terrible floods that threaten to wipe 1% of Australia's GDP

Im not a fundie myself, but it is always nice when the fundies line up with the techs
  • #588
  • Jan 12, 2011 8:14am Jan 12, 2011 8:14am
Hello Bob,

First I'm a long time admirer. I want to express my gratitude to you for sharing your systems, tools, ideas so traders are still learning even after several years of trading.

I sincerely hope your school now has power and you are doing your best work with the Chinese.

I'm sharing my results with you because it is the first time in a short period of time I have made profits.

We know you're anti-December trading because of past results.

I, however, could not resist. Here are my live account IBFX trading PIP results:

Dec 12, 2010 through Jan 11, 2011
Eur/Usd two trades +175

January 11, 2011 Closed trades
gbp/usd stopped out with +4
Nzd/usd -9
Usd/Cad two trades +60
Usd/Jpy= -3

Total Booked Profits= 217 Net profits(due to swap).

Carry December Carry over
Chf/Jpy -70 ( as of today)

Thanks again for your guidance, the noise reduction in your teachings & the trust you place in people to think for themselves.

-Forexwonder
  • #589
  • Jan 12, 2011 8:16am Jan 12, 2011 8:16am
Quoting Mediator
start a proper MM with your first trade. to gain profit is not depending with the system you use, it depence about you. to make an entry is emotional easy, but to manage your trade and exit is a very emotional process.
Appreciate your thoughts, Mediator, but not sure I follow completely. I don't think I would be inclined to risk 1-2%/trade using an entry strategy derived from a system which produces negative expectancy after a period of time. I'm assuming the trader would be employing the same entry/exit criteria throughout the test period. For example, enter 5X5 cross, exit the opposite TMA band.
  • #590
  • Jan 12, 2011 8:23am Jan 12, 2011 8:23am
Thanks for your explanation Zuke. This makes totally sense to me. I hope for you that everything develops as expected.
  • #591
  • Jan 12, 2011 8:30am Jan 12, 2011 8:30am
Quoting Zuke
...and now filled at SHORT 9925; SL 9965; Target 9825 See chart below..lets see how it pans out.
Looks like a good entry, provided price does indeed resume the DT . However, seems you are neglecting the 5X5 cross component of Bob's system. I'm not knocking your trading, but think your example might create some confusion for those learning the system.
  • #592
  • Jan 12, 2011 9:06am Jan 12, 2011 9:06am
First - many thanks to Bob for another great system. Just was playing with the new template, and wanted to see others' opinions of the EURJPY. I placed a few sells that closed with a minor loss - I know I was too quick to pull the trigger, but wanted to see if anyone could provide a quick analysis on this pair. Many thanks - Steve
  • #593
  • Jan 12, 2011 9:54am Jan 12, 2011 9:54am
Quoting StephenS
First - many thanks to Bob for another great system. Just was playing with the new template, and wanted to see others' opinions of the EURJPY. I placed a few sells that closed with a minor loss - I know I was too quick to pull the trigger, but wanted to see if anyone could provide a quick analysis on this pair. Many thanks - Steve
FWIW - larger interests seem emboldened to support the Euro on the promises of China's and Japan's declared intentions of Eurozone bond purchases this week. I can see where your short entries were signaled by the system. And for no further along that I am, I'm starting to sense the importance of considering the slope of the TMA median line vs the 240ma, preferring diverging, or at least parallel, placements.

Edit: I might add that we may also want to keep a closer eye on price's relationship to the newly added 48X4 ma.
  • #594
  • Jan 12, 2011 9:58am Jan 12, 2011 9:58am
Quoting greven
Strange.. I'm using steve bot manual for entry but as soon as it finish to manage a trade instead of suspend itself it open another trade and this in loop for many times.
Any suggestions?
Wrong thread. Post this in Steve's thread. Only questions about Bob's EAs should be asked here.
  • #595
  • Jan 12, 2011 9:59am Jan 12, 2011 9:59am
I'm looking for a short trade on the CHFJPY at the moment. Touched the red upper TMA line. The daily average of about 90 pips is almost done and just touched the yesterdays high. After close of Europe session could move downwards again.
Turned EA on now but even it gets filled it could take a couple of hours.
We'll see where price wants to go.
  • #596
  • Jan 12, 2011 10:19am Jan 12, 2011 10:19am
Quoting MephistoII
FWIW - larger interests seem emboldened to support the Euro on the promises of China's and Japan's declared intentions of Eurozone bond purchases this week. I can see where your short entries were signaled by the system. And for no further along that I am, I'm starting to sense the importance of considering the slope of the TMA median line vs the 240ma, preferring diverging, or at least parallel, placements.

Edit: I might add that we may also want to keep a closer eye on price's relationship to the newly added 48X4 ma.

I also just noticed the TMACD is indicating divergence, which may help explain this. Thanks again - Steve
  • #597
  • Jan 12, 2011 10:31am Jan 12, 2011 10:31am
Quoting StephenS
I also just noticed the TMACD is indicating divergence, which may help explain this. Thanks again - Steve
Good point, Steve. I didn't have my chart scrunched enough to notice the occurrence. Always good to view from afar Cheers ...
  • #598
  • Jan 12, 2011 10:42am Jan 12, 2011 10:42am
Hey all.

I'm really interesting in foward testing this system. I saw your post somewhere in this thread about you working fulltime and I cant seem to find the post again.

I was just wondering if you could repost when you check your charts and what do you look for to enable the EAs?

If my memory serves correctly, I think you said you check your charts once before each session opens? I've always been limited to trading the Daily timeframe due to my job. I'm just wondering what you look for at each session start to decide to turn on the EA. If I understand the rules, is this what I should look for?

To turn on buy EA:
Price above 240ma
Price above 5x5ma
Middle of TMA above 240ma
Price is near or touching green line

So once you see all these line up you turn on the buy EA? I apologize if this seems like an amateur question. I'm fairly new for forex and usually use simple MA crossover systems.
  • #599
  • Edited 2:21pm Jan 12, 2011 1:34pm | Edited 2:21pm
to motivate all of you, here is my statement since i began trading with NB V1.0 Signals.

I trade trend and counter-trend. i only take signals from 1h chart and entry at 5m chart if 1-2-3 patternbreak and SL last high/low.

i did not take TP cause let run my winners and cut my losses early.
this means i have very much lossers but the reward is high until endless.

i trail stop to BE +1pip if market stall ends.

i also hedge my positions. so i take a fixed tradevolume. for this type of trading it is better to take fixed stops until the statistic says that the balance of lossers, BE's and winners is on the winner side. if i try to catch a 100 Pipride i only have 4 attempts with a 20 pipstop and fixed tradestopvolume. if i use a riskstop my attempts are lesser.

here my stats:

chfjpy: long +37.0 pips, short 95.1 pips (profit hedged and BE)
eurjpy: long +164.3 pips (BE)
gbpchf: long +370.8, +245.3, +50.6 pips (all BE)
gbpusd: long +297.1 (BE)
usdchf: long +26.1 (BE)

total +1286.3 floating pips since 07.01.2011.
lost about 318 pips.

you can do this for yourself with every system only if the signalquality is good and you have tight stops and the emotional power to withstand.
i think Bob's signalquality is good if you look at smaller TF's for entries.
this is what duffypratts stats proof this.
Attached File(s)
File Type: zip Statement.zip   8 KB | 508 downloads
  • #600
  • Jan 12, 2011 2:29pm Jan 12, 2011 2:29pm
Quoting Mediator
to motivate all of you, here is my statement since i began trading with NB V1.0 Signals.

I trade trend and counter-trend. i only take signals from 1h chart and entry at 5m chart if 1-2-3 patternbreak and SL last high/low.

i did not take TP cause let run my winners and cut my losses early.
this means i have very much lossers but the reward is high until endless.

i trail stop to BE +1pip if market stall ends.

i also hedge my positions. so i take a fixed tradevolume. for this type of trading it is better to take fixed stops until the statistic...
With my testing, I've been taking a small stop in a relatively arbitrary manner. There's no logical reason why one would place the stop at 1/2 the distance to the earlier high/low. I put it there simply because I'm confidant that a system with a decent entry will do better with a small stop.

By dropping to lower time frames, it looks like you can find a better place to put the stop. In one of my favorite threads on FF, the thread leader is constantly saying that you first find where you would like to put a stop, and then you try to enter as close to the stop as you can.

I'm a little less clear on how you are going about letting the trades run. But that's also an idea that I like in principle. I'd be very happy to learn more about your trading methods. Your summary is a bit abrupt, so it's not completely clear to me what you are doing. It would be helpful, to me at least, if you could fill in the details and maybe show some examples. (And it's possible that this thread is not the place for that kind of discussion.)
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