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Nanningbob 4h trading system ver. 5.0

  • #3,881
  • Feb 26, 2011 7:18pm Feb 26, 2011 7:18pm
you can make more coming out of recovery trades than primary trades....so yes the system works. the system does not work when price is not moving out to the extremes.
  • #3,882
  • Feb 26, 2011 7:28pm Feb 26, 2011 7:28pm
Quoting Radio
you can make more coming out of recovery trades than primary trades.....
I have not been keeping up with events here, so apologies for this coming out of the blue, but I can confirm Radio's statement. In the various ea's that I code that take advantage of Recovery, then shooting for Recovery + 20 has proven enormously profitable.

Not sure what you will all make of this comment, but I wish you all the best of luck. Recovery could well turn out to be Bob's lasting legacy to all of us here at FF.

  • #3,883
  • Feb 26, 2011 10:43pm Feb 26, 2011 10:43pm
hey bob,
Very interesting strategy, I’ve been following and ‘playing’ with it for a few months now, however at the moment I don’t have enough time to completely learn this strategy or trade live.
Have you heard of Zulu trade or thought of trading through them.
Basically you connect your account with Zulu trade and others can follow you, any trade you make will automatically be made in the followers account.
Also for every trade you make you get .4pips for every follower. ie, make 10 trades with 100 followers and you’ll get 400pips.
Thoughts?
  • #3,884
  • Feb 27, 2011 10:01am Feb 27, 2011 10:01am
Quoting nanningbob
Because of the earthquake I would be wary of trading NZD pairs right now. If you can hedge the trade until things go back to normal that may be better than trying to ride it out.
So far I don't really get why it's better to hedge a trade than to close it. The result is the same, right? You freeze your drawdown at a certain amount. The difference is that with hedging you pay swap twice (original and hedging trade). So why would you prefer hedging a trade over closing it?
  • #3,885
  • Feb 27, 2011 1:33pm Feb 27, 2011 1:33pm
Quoting That guy
So far I don't really get why it's better to hedge a trade than to close it. The result is the same, right? You freeze your drawdown at a certain amount. The difference is that with hedging you pay swap twice (original and hedging trade). So why would you prefer hedging a trade over closing it?
The original and the hedging trade are in opposite directions. If your broker pays you when swap is in your favor, then those should cancel out.

I've asked about this before. I think the difference is mostly psychological. When you have a trade and a hedge on, you are still actively in the market. If you simply close the position, you are out of the market. The two stances make a difference to people, even though they might be mathematically the same.
  • #3,886
  • Feb 27, 2011 3:19pm Feb 27, 2011 3:19pm
Quoting SteveHopwood
I have not been keeping up with events here, so apologies for this coming out of the blue, but I can confirm Radio's statement. In the various ea's that I code that take advantage of Recovery, then shooting for Recovery + 20 has proven enormously profitable.

Not sure what you will all make of this comment, but I wish you all the best of luck. Recovery could well turn out to be Bob's lasting legacy to all of us here at FF.

That was my point exactly!!!!
  • #3,887
  • Mar 1, 2011 6:44pm Mar 1, 2011 6:44pm
I got a feeling that this market is going to ram my trades down my throat...try to remain hedged but got off track.
  • #3,888
  • Mar 1, 2011 6:54pm Mar 1, 2011 6:54pm
Made 5.8% positive and live

took 39 trades with a 87.18% win ratio all losers were with the recovery method

had 27 trades profitable in a row

5th month in a row and all months with this system have been profitable...

Thank you Bob!!!!
  • #3,889
  • Mar 2, 2011 9:56am Mar 2, 2011 9:56am
Quoting Radio
Made 5.8% positive and live

took 39 trades with a 87.18% win ratio all losers were with the recovery method

had 27 trades profitable in a row

5th month in a row and all months with this system have been profitable...

Thank you Bob!!!!
  • #3,890
  • Mar 2, 2011 11:04am Mar 2, 2011 11:04am
Hi

Please find attached my results for the last 2 weeks. I am busy with so many other things and I am only trading this part time (around 30 minutes a day). As you can see with swap fees profit of $115 trading 10 cents a pip. At present have DD of around 700 pips ($83) waiting for a good L2 entry on four trades. Maybe take one or more trades if set up is exceptional, otherwise will not enter more trades until the DD is sorted out.

I hope everyone is in profit also. Please bear in mind , CAUTION, CAUTIOIN, CAUTION.

Kind Regards
Attached File(s)
File Type: xls nb ver 5 last 2 weeks Feb 2011.xls   48 KB | 398 downloads
  • #3,891
  • Mar 2, 2011 11:00pm Mar 2, 2011 11:00pm
Quoting astral77
Hi

Please find attached my results for the last 2 weeks. I am busy with so many other things and I am only trading this part time (around 30 minutes a day). As you can see with swap fees profit of $115 trading 10 cents a pip. At present have DD of around 700 pips ($83) waiting for a good L2 entry on four trades. Maybe take one or more trades if set up is exceptional, otherwise will not enter more trades until the DD is sorted out.

I hope everyone is in profit also. Please bear in mind , CAUTION, CAUTIOIN, CAUTION.

Kind Regards
Very nice
  • #3,892
  • Mar 3, 2011 6:54am Mar 3, 2011 6:54am
Hi Radio,
Could you please publish your TMA (double) setup?. I use siths lines intensively with nice results but sometimes when prices are not in the extremes you do not have entries for a while. As far as I understood, TMA does not depend on this.
TBH
  • #3,893
  • Edited 11:20am Mar 3, 2011 7:45am | Edited 11:20am
Quoting trustdom
Hi Radio,
Could you please publish your TMA (double) setup?. I use siths lines intensively with nice results but sometimes when prices are not in the extremes you do not have entries for a while. As far as I understood, TMA does not depend on this.
TBH
If memory serves me correctly, he did publish his modification of the TMA OUTER as well as his tpl in January. If you click on his name then look at his posts with attchments you should find it fairly quickly. His adaptation of Bob`s method is solid and once I have more time I will start using his method as well as 5.3 to see which one makes more profit with less DD.

Kind Regards
P.s. Glad to be of some help, best of luck and please keep us updated with your results good or bad.

PPS. Thanks scott (RADIO), they are not anywhere near your results, but it is steady, as you know this system needs time. Keep up the good work.
  • #3,894
  • Mar 3, 2011 10:59am Mar 3, 2011 10:59am
Quoting astral77
If memory serves me correctly, he did publish his modification of the TMA OUTER as well as his tpl in January. If you click on his name then look at his posts with attchments you should find it fairly quickly. His adaptation of Bob`s method is solid and once I have more time I will start using his method as well as 5.3 to see which one makes more profit with less DD.

Kind Regards
Astral,
Many thanks for your help.
  • #3,895
  • Mar 3, 2011 3:30pm Mar 3, 2011 3:30pm
only another small week of gains for me - havn't taken many trades as I'm wary of holding to many USD pairs, and I'm still avoiding anything to risky considering the libian situation.

still on a DD with USD/CHF, should have bought a lvl 2 twice now, would have been out of the woods. Good lesson to learn really.
  • #3,896
  • Mar 3, 2011 8:13pm Mar 3, 2011 8:13pm
Quoting astral77
If memory serves me correctly, he did publish his modification of the TMA OUTER as well as his tpl in January. If you click on his name then look at his posts with attchments you should find it fairly quickly. His adaptation of Bob`s method is solid and once I have more time I will start using his method as well as 5.3 to see which one makes more profit with less DD.

Kind Regards
P.s. Glad to be of some help, best of luck and please keep us updated with your results good or bad.

[b]PPS. Thanks scott (RADIO), they are not anywhere near...
Correct I did post in Jan and another time earlier...the last was the most comprehensive for sure. the key is finding the balance between DD and profits. for me that depends on the the outer TMA and the multiplier setting. I took less trades this past month and made less profit but hell I increased my win percentage up to 87% and had 27 winner in a row. my DD was at a min until the last week of Feb but I am rather aggressive in nature and that carries over to my trading I take almost every trade that gives me a signal no matter of the DD I have. I may close some out early and take smaller profits if I have larger DD but I treat trade entry as if I have no DD....I think that with the recovery system this is possible and it is a mental piece to overcome....To overcome the the fear of losing it all What was Scooby's quote you need BS or Balls of Steel. I don't know if I have those because I find my way out of trades early, but I hate closing losers so I get out of them with the recovery system.
  • #3,897
  • Mar 3, 2011 10:32pm Mar 3, 2011 10:32pm
Quoting astral77
Hi Scott

Thanks very much for recommending the above book. I am half way through it and have found it to be an easy read, enjoyable and most importantly it has changed some of my thoughts regarding trading. I find it ironic that some people say they have read enough and can not be bothered to read anymore. We forget that a book is a summary of a specialists experiences, hence, when reading the book we are absorbing some of their professional experience.

I am half way through another book recomended by BRIJON, it is THE LOGICAL TRADER. I thoroughly...
Market Wizards by Jack Schwager (there are 2 of them) Will teach you how successful traders think

Zurich Axioms...

Those are the ones that helped me the most next to Enhancing a traders performance
  • #3,898
  • Mar 3, 2011 10:48pm Mar 3, 2011 10:48pm
Quoting trustdom
Hi Radio,
Could you please publish your TMA (double) setup?. I use siths lines intensively with nice results but sometimes when prices are not in the extremes you do not have entries for a while. As far as I understood, TMA does not depend on this.
TBH
I have my outer TMA set at 3.5 for the EJ. If you look to the left 4 weeks ago price reached this level...so I would not and have not entered a trade on EJ in that time. Now price is at an extreme for this pair for the last month. The reason I say at an extreme is that price is well outside the 3.5 outer TMA and should come back toward the center. I have EA #2 set for a sell and can't wait to make some pips or get into recovery which every comes first. Sometimes I wait for price to come into the BB then turn on a #1 but not today for some reason. On this chart price would also be above the 6ths. and RWB are above 85...so there is no reason not to take this trade unless you feel that the underlying fundamentals prevent an entry. also the 115.00 price level is rejecting or holding as resistance.

http://i688.photobucket.com/albums/v...stronaut/3.gif
  • #3,899
  • Mar 6, 2011 2:21pm Mar 6, 2011 2:21pm
Quoting Radio
I have my outer TMA set at 3.5 for the EJ. If you look to the left 4 weeks ago price reached this level...
http://i688.photobucket.com/albums/v...stronaut/3.gif
Radio,
I took this trade too, currently under the water but still I think that is a powerful setup.
I just finished reading about your TMA's post and I already implemented it in my charts.
Just a question, it's seems that you have a different multiplier for each pair (most common 3.0, EJ & EC = 4.5, EJ = 3.5, etc). Could you please share yur complete set of multiplier for each pair or show us how to calculate them for each pair.
Thanks before hand.
  • #3,900
  • Mar 6, 2011 4:41pm Mar 6, 2011 4:41pm
Quoting trustdom
Radio,
I took this trade too, currently under the water but still I think that is a powerful setup.
I just finished reading about your TMA's post and I already implemented it in my charts.
Just a question, it's seems that you have a different multiplier for each pair (most common 3.0, EJ & EC = 4.5, EJ = 3.5, etc). Could you please share yur complete set of multiplier for each pair or show us how to calculate them for each pair.
Thanks before hand.
I started this method of adjusting the outer TMA to fit each pair last month prior to that I had the outer TMA set at 3.0 on all pairs since maybe November of last year....but I was getting into some serious DD. I put in an outer TMA because I felt that 2.5 was too tight and gave too many signals and had too much DD...for me anyway

latest method So for the outer TMA I do not go lower than 3.0 (bob's original setting is 2.5). What I do is fit the outer band to price extremes for each pair that I can see on the chart that would equal a month's worth of price action. I move the outer TMA multiplier in increments of quarter points so the lowest setting is 3.0 then 3.25 then 3.5 and so on. I think the highest I us is 4.25 but I would go higher it past price action required that.

I update the outer TMA on Market open which is Sunday afternoon for me and I leave it for the entire week.

In a perfect world you would enter a trade outside the outer TMA but most of the time I shoot for an entry between the TMA's and as close to the outer one as possible.

I tried trading w/o the inner TMA but I could not tell where price was...if that makes sense. For me by having both TMA's it allows me to see where price is in relation to the center and the extremes.

this has lowered my entries, lowered my DD, lowered my profits and increased my winning % by over 10%...trending markets aside. The key is to find balance. I would like for my profits to go back up but that would mean that 10% more of my trades would be in recovery and expose my acct to more risk. Less risk, but higher win %, less DD and less recovery trades.

all Euro pairs that I trade are the only ones that are above 3.0 on the multiplier.

EG 3.75
EuChf 3.25
EuCad 3.5
EuAud 4.0
EuJpy 4.75 (which means that it will be hard to find an entry on this pair (EJ) until that spike moves off the screen for a month or I move the TMA in or break my own rules for entry)

as you will see on this chart I did not move the outer TMA all the way out to the extreme I fitted it more to where the candles closed and let the wicks stick out. I hope I did not confuse anyone and/or step in anyone's toes. This is my version of Bob's method and is in no way meant to change his system only to supplement and give a different option.http://i688.photobucket.com/albums/v...ronaut/3-1.gif
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