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Nanningbob 4h trading system ver. 5.0
- #3,702
- Jan 28, 2011 12:44pm Jan 28, 2011 12:44pm
I'm recovering the euraud that was in a huge DD, epic system
It would be nice if in Recovery mode after reaching BE+10 we can put a stop loss on the BE and let the recovery run.
If it runs, we can cash some extra pips (and usually the lot are big so big are the profit), if not we still exit at BE and we are happy anyway.
What do u think?
Price moved another 100 pips!!!! wow! wish I had that much foresight, but I am extremely happy with where I am right now. When I woke just now my DD was about half of last night when I went to sleep and I made about another my weekly goal.
again taking profit is something that is individual. about 80% of traders want to get out of a trade at BE or zero after a trade goes against them. I am mentally strong enough to get to +10, and last night I was a little more brave. But for you and where you are as a trade might have hung in for the entire +200 in the same trade.
I think that the key is we have to walk down this road long enough to see the situations and variables to truly see the nuances of the system and then attack in our own way.
- #3,703
- Jan 28, 2011 12:57pm Jan 28, 2011 12:57pm
- | Joined Nov 2006 | Status: Trader | 1,143 Posts
maybe, but you have to be sitting there to make some of those things happen. After I posted the EJ chart I noticed that the white on the RWB indicator was running close to the blue which means a strong move and coupled with the fact the EJ can move about 200 pips in a day I moved my TP on both levels to a +45 instead a +10. I chose the +45 because it was above the center of the TMA and it was at 112.60. I went to bed and when I got up I had one of my most profitable trades with the system ever.
Ah, ha, so this is where TMA comes in handy. I wish I new how to read this stuff like you do So if in a Sell and in a strong move, price will cross center TMA from below quickly? I need to read my charts more.
24 hours in a day – 24 bottles of beer in a case – Coincidence? I think not
- #3,704
- Edited 1:49pm Jan 28, 2011 1:33pm | Edited 1:49pm
Congrats
So if in a Sell and in a strong move, price will cross center TMA from below quickly? I need to read my charts more.
I am thinking of testing that so I can expand my profit since I moved my TMA out on most pairs to try to get in trades and the most extreme and eliminate some DD.
I think it is the one I attached, but I will load on demo to make sure...here it is.
reading the market/indicators takes practice. I was drinking a glass of wine so that may have added to my bravery. I am glad it was not Tequila I was drinking...LOL
if you are in a sell trade you should have started above the TMA center line and trading back toward the center and the opposite on a but trade from the bottom up toward the center line.
If this is not it I will have to find it in the thread during the 6.0 development
- #3,705
- Jan 28, 2011 1:45pm Jan 28, 2011 1:45pm
- | Joined Nov 2006 | Status: Trader | 1,143 Posts
takes profit at the center line of the TMA...
I am thinking of testing that so I can expand my profit since I moved my TMA out on most pairs to try to get in trades and the most extreme and eliminate some DD.
I think it is the one I attached, but I will load on demo to make sure...here it is.
reading the market/indicators takes practice. I was drinking a glass of wine so that may have added to my bravery. I am glad it was not Tequila I was drinking...LOL
if you are in a sell trade you should have started above the TMA center line and...
24 hours in a day – 24 bottles of beer in a case – Coincidence? I think not
takes profit at the center line of the TMA...
I am thinking of testing that so I can expand my profit since I moved my TMA out on most pairs to try to get in trades and the most extreme and eliminate some DD.
I think it is the one I attached, but I will load on demo to make sure...here it is.
reading the market/indicators takes practice. I was drinking a glass of wine so that may have added to my bravery. I am glad it was not Tequila I was drinking...LOL
if you are in a sell trade you should have started above the TMA center line and...
- #3,709
- Jan 29, 2011 2:00pm Jan 29, 2011 2:00pm
Made all the pips in EJ amd GJ between last night and today EJ=156 pips
and GJ= 246 pips and I will sell the EG on open sunday for sure. Here is the
EG set up. Let Me know what you think Guys.
I am surely not here to tell people what to do and not to do, but immediately opening a trade on Sunday based off of analysis on Friday could be dangerous.
The political unrest in Egypt could make the Euro pairs gap down and if you short the trade could go negative in a blink of an eye to fill the gap.
I think that your concepts in determining the trade are sound, but I think you are just using the TMA and not other vital pieces of the Nanningbob 4h 5.3 system.
your entry to short the EG as a counter trend trade (using the system on this thread) I feel is a little late, but if you feel that the market is going to start a down trend then that is a good trade. time will tell.
The idea is to get into the trade outside the the TMA if possible at an extreme and not in the middle. If you are looking to trend trade I would look to a different system. Bob has developed one and it is at this link:
http://www.forexfactory.com/showthread.php?t=274194
Also for the EG to go down the euro has to lose strength and the sterling has to gain strength.
happy pipping!!!
Made all the pips in EJ amd GJ between last night and today EJ=156 pips
and GJ= 246 pips and I will sell the EG on open sunday for sure. Here is the
EG set up. Let Me know what you think Guys.
Looks like NBV1...I have already short E/G and closed the trade with a profit (I used #2EA, but it entered the trade earlier instead of when the MA1 came back to the bb band...a little bit confused...
). I only trade NB V5.3. According to NB5.3, I think it does not meet the requirement to short E/G on open sunday. I will not even open any EA on it because the RWB are close to 15 not 85. This does not mean that short e/g on open sunday will be a bad trade. This is just my discipline.
- #3,714
- Edited 4:09pm Jan 30, 2011 3:36pm | Edited 4:09pm
Is this NB V5.3?
I have already short E/G and closed the trade with a profit (I used #2EA, but it entered the trade earlier instead of when the MA1 came back to the bb band...a little bit confused...
I only trade NB V5.3. According to NB5.3, I think it does not meet the requirement to short E/G on open sunday. I will not even open any EA on it because the RWB are close to 15 not 85. This does not mean that short e/g on open sunday will be a bad trade. This is just my discipline.
the chart you posted is 5.2 and there are the 5.3 updates on page1 post 1. Then there are updates in the thread when Bob was developing 6.0 and 6.1.
I took what I thought was the best of 5.2, 5.3, 6.0 and 6.1 and combined them. I also added some things of my own. I never really went away from the RWB indicator, I use the 5.2-5.3 EA's for entry and I use the TMA in place of the 6th's. I added an outer TMA and last week curve fit that to each pair. I deleted the TMA that had Bob's original setting. The jury is still out on this adjustment. I use the ATR multiplier to fit the TMA to the extremes of price movement. The lowest I go is 3.0 and they all are somewhere between there and 4.5. The aim is to filter out runners against my position to reduce DD.
I also use the ma's from Bob's trend system to see if I can get some pips, but it has been hit and miss.
Here is my latest template, but the TMA will have to adjusted to fit each pair.
