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Nanningbob 4h trading system ver. 5.0

  • #3,801
  • Feb 6, 2011 11:30pm Feb 6, 2011 11:30pm
Quoting Radio
I just turned #1's on these pairs

chfjpy-removed
EG-removed
eurcad +32
audjpy-still on looks like a very nice setup
euraud-removed

#4 on usdchf +29

I will update the progress
see above
  • #3,802
  • Feb 6, 2011 11:50pm Feb 6, 2011 11:50pm
Quoting Radio
see above
\

That AUD/JPY does look good. I'm waiting to see how price reacts 83.60 before I enter. I see resistance in that area but I need to see good price action rejection around those levels before I consider a short position.
  • #3,803
  • Feb 7, 2011 12:23am Feb 7, 2011 12:23am
Quoting sebring001

That AUD/JPY does look good. I'm waiting to see how price reacts 83.60 before I enter. I see resistance in that area but I need to see good price action rejection around those levels before I consider a short position.
I am a little more aggressive than that I guess. I switched from a #1 to a #4 sell.

Price has not been at this extreme since last weeks close and then 2 weeks prior to that. Since I have adjusted my outer tma to fit each pair I feel that I need to get in here somehow because it may be a while before this pair get out there for an entry.
  • #3,804
  • Feb 7, 2011 1:58am Feb 7, 2011 1:58am
i agree with the #4 sell here, it looks a "must have trade" and i don't want to risk to miss it with a #1
  • #3,805
  • Feb 7, 2011 7:59am Feb 7, 2011 7:59am
Quoting sebring001
Thanks for the tip on the dreamline thread. It'll be very useful. And you're right about those runners. We had runners galore and it reenforced the lessons of taking on too many postions relative to account size. I'm just so glad for the recovery system; i never use stoplosses in the tradtional sense. They are placed so far out that it is highly unlikely to get hit. I do this because you never know what may happen. Like I could end up in a hospital for a few months and no one would know to close out my postions lol. I also use exaggerated TP for...

I am live with the 5.2 for more than half a year and trading with too many similar pairs, always was the pain for my account. All the drawdown have been caused from pairs running in parallel.

So I decided a simple rule for myself: "One currency - only twice a time".
Example if EU and EG is active, I will not open any more EUR pairs until one of those is closed. In the attached graph you will see the (x) when I started the rule and it really works fine, since that day on my live account.

Attached Image


thanks BOB by the way for the reliable system
(as mentioned I still trade the 5.2)
br
Bambo0
  • #3,806
  • Feb 7, 2011 11:06am Feb 7, 2011 11:06am
100+ pips today ,
Recovery trades still on waiting to kick in the L1,

The TMA and sixths are very good indicators if you identify the strengths and use to ur advantage

Also stick to the rules
  • #3,807
  • Feb 7, 2011 12:27pm Feb 7, 2011 12:27pm
Quoting Bambo0
So I decided a simple rule for myself: "One currency - only twice a time".
i use the same rule for a while, and helps a lot! i've accepted the fact that i won't be a millionaire in a few years, but i can increase my account in safety.
  • #3,808
  • Feb 7, 2011 4:32pm Feb 7, 2011 4:32pm
nice job trading guys. I banked 300 pips with this method as well!!!
  • #3,809
  • Feb 7, 2011 5:58pm Feb 7, 2011 5:58pm
Quoting Bambo0
...a simple rule for myself: "One currency - only twice a time"...Example if EU and EG is active...thanks BOB by the way for the reliable system (as mentioned I still trade the 5.2)br...Bambo0
IMHO Bob will be pleasantly surprised when he is back from vacation. Last few posts were full of good practical advise. I think BOB should reconsider abandoning the counter trend strategy. It it noteworthy that in Steve`s "BEASTIE" EA the Counter trend part is more successful than the trend part! Bamboo`s simple "one currency - only twice a time" should be the number 1 rule to have low DD. Radio`s 2 level rule is also useful for low DD (i.e. only enter 2 levels with L2 being set according to -ve balance of L1, only when there is a strong set up).

With Bob`s permission , I would be most grateful if anyone who is using hedging with this system could share their experiences here (good or bad). If you know of any sources regarding good hedge systems in WWW please post the links.

Kind Regards
  • #3,810
  • Feb 7, 2011 9:14pm Feb 7, 2011 9:14pm
Quoting astral77
IMHO Bob will be pleasantly surprised when he is back from vacation. Last few posts were full of good practical advise. I think BOB should reconsider abandoning the counter trend strategy. It it noteworthy that in Steve`s "BEASTIE" EA the Counter trend part is more successful than the trend part! Bamboo`s simple "one currency - only twice a time" should be the number 1 rule to have low DD. Radio`s 2 level rule is also useful for low DD (i.e. only enter 2 levels with L2 being set according to -ve balance of L1, only when there is a strong set...
Astral,

I second what you said about Beastie. Actually, I'm using the original Old Beast using only 3 pairs and since October 1, 2010 I have made 5% every month with only 2.07% DD. I am up 23% so far. Totally hands off.
  • #3,811
  • Feb 7, 2011 9:18pm Feb 7, 2011 9:18pm
Quoting Radio
I am a little more aggressive than that I guess. I switched from a #1 to a #4 sell.

Price has not been at this extreme since last weeks close and then 2 weeks prior to that. Since I have adjusted my outer tma to fit each pair I feel that I need to get in here somehow because it may be a while before this pair get out there for an entry.
Radio,

Did you notice price go up to my original test of the 83.60 levels? It did reject the level but not as strong as I would like. I still went short and regardless of where we entered, it's still in the same ballpark. I'm just less aggressive because those past runners are still fresh in my mind
  • #3,812
  • Edited 10:34pm Feb 7, 2011 10:18pm | Edited 10:34pm
Quoting sebring001
Radio,

Did you notice price go up to my original test of the 83.60 levels? It did reject the level but not as strong as I would like. I still went short and regardless of where we entered, it's still in the same ballpark. I'm just less aggressive because those past runners are still fresh in my mind
I am still in at -12 right now. EU went back up a bit so still in DD on that one right now.

I made 0 pips today. No EA's triggered while I was away at work. I only have a #1 sell on the USDChf right now. I will check again before I go to bed.

BTW I am up 13% since 1/6, not hands off but very little input considering the systems I use to trade.

this is why I am staying with the AJ, Price can 't close above the 100 fib extension.
http://i688.photobucket.com/albums/v...ronaut/2-3.gif
  • #3,813
  • Feb 7, 2011 11:07pm Feb 7, 2011 11:07pm
Quoting Radio
I am still in at -12 right now. EU went back up a bit so still in DD on that one right now.

I made 0 pips today. No EA's triggered while I was away at work. I only have a #1 sell on the USDChf right now. I will check again before I go to bed.

BTW I am up 13% since 1/6, not hands off but very little input considering the systems I use to trade.

this is why I am staying with the AJ, Price can 't close above the 100 fib extension.
http://i688.photobucket.com/albums/v...ronaut/2-3.gif
It's amazing how two people can reach the same conclusion using two different methods of confirmation. For me, it was just an area of previous resistance, for you it was prices refusal to close past 100% Fib extension.. It looks like we have what James16 would say, "confluence." Although this is so guarantee, at least we put odds in our favor.
  • #3,814
  • Feb 8, 2011 7:35am Feb 8, 2011 7:35am
retested Friday's high and did not break...could be a sign to go lower....
  • #3,815
  • Feb 8, 2011 7:51pm Feb 8, 2011 7:51pm
ChfJPY #2 long
EurChf #2 short
USDchf #4 short

carryover/DD
EU
AudJpy

day pips: 0
Week: +60
  • #3,816
  • Feb 9, 2011 8:07am Feb 9, 2011 8:07am
AJ at +2...figured 48 hours was long enough
ChfJpy +20
  • #3,817
  • Edited 8:56am Feb 9, 2011 8:41am | Edited 8:56am
open trades
AJ: It's the same trade, I think I'll close it today too if nothing happens.
GU: I need 40 more pips (1.6010) to close that 10 days old position
NzdChf: TheBeast works on that problem

upcoming trades
UC, GC - #1 sell... I'm afraid I've missed them
UJ - #1 sell


not an eventful week anyway
  • #3,818
  • Feb 9, 2011 7:30pm Feb 9, 2011 7:30pm
I would like to thank to Nanningbob, Steve Hopwood.... I deeply admire you and your will for sharing knowledge..Like many of other threads in this forum it has opened my view in a certain direction and has learned me alot.
Thank you, your work is much appriciated.
Dreaming in Charts...
  • #3,819
  • Feb 10, 2011 4:15pm Feb 10, 2011 4:15pm
I made about 120 pips this week using a manual trading version of this system ... could have had more.

I trade the system quite conseratively and really only take primary trades.

Biggest winner was a sell on the aud/nzd as it was a primary trade and was right up at resistance.
  • #3,820
  • Feb 10, 2011 5:28pm Feb 10, 2011 5:28pm
Quoting scottik187
I made about 120 pips this week using a manual trading version of this system ... could have had more.

I trade the system quite conseratively and really only take primary trades.

Biggest winner was a sell on the aud/nzd as it was a primary trade and was right up at resistance.
Hi Scotti

Well done my friend. Conservative in these uncertain times is good. Aggressive = Reckless = money lost.
Bob always says that people should adapt the system to their own style. If you do not mind can you give us a brief description of your method (judging by your post I guess you are using S&R lines as your main filter).

Kind Regards
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