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Nanningbob 4h trading system ver. 5.0

  • #3,921
  • Mar 10, 2011 10:06pm Mar 10, 2011 10:06pm
puts you in DD with premature crossing of BB...I could have also have waited for the RWB to be under the 15,but I was leaving for work

http://i688.photobucket.com/albums/v...ronaut/3-6.gif
  • #3,922
  • Mar 11, 2011 12:16am Mar 11, 2011 12:16am
interesting. i still follow the sixths and price is here between the lower green and gold line. therefore no setup yet.
i guess using the tma gives more entries, right?
Quoting Radio
#1 buy...could have used a #2 but I think I still prefer the #1 because price seems to come back the BB after it moves inside and gives a better entry price.
http://i688.photobucket.com/albums/v...ronaut/3-5.gif
meine augen sind die sterne
  • #3,923
  • Mar 11, 2011 1:29am Mar 11, 2011 1:29am
Quoting aserbfx
interesting. i still follow the sixths and price is here between the lower green and gold line. therefore no setup yet.
i guess using the tma gives more entries, right?
Well you don't have to wait for price to migrate to the other side of the chart
  • #3,924
  • Mar 11, 2011 6:11am Mar 11, 2011 6:11am
That GU move down was actually good for a recovery trade, which I had been sitting on since december. It just kept missing it's target but today I finally closed it out with a nice profit. It was very educational to watch a single pair for a longer time.

I also realised that it may be a good idea to phase into recovery trades (perhaps lvl1 trades as well), to limit the drawdown. So instead of entering with your intended lot size enter with half or third and if that position goes into drawdown by x pips you enter the other half. I have played with this a bit but I have not come to any firm rules on how to execute it.

Be careful with those Yen pairs, this earthquake seems to be huge.
  • #3,925
  • Edited 8:43am Mar 11, 2011 6:20am | Edited 8:43am
Hi

FYI my results for the past 2 weeks. I agree caution must be the number 1 consideration. With 4H and above we must always keep an eye on the fundamentals.

Kind regards
P.s. As you can see I have quite a few jpy pair trades, I will keep an eye on them to ensure they do not cause trouble.
Thus far the a/c is up 10% this year.
P.P.S. NB for conservative trading, Use Phover`s dashboard and ensure you have RWB green (i.e. all 3 are in oversold /overbought) position. Many people take a trade when the Stochs are in position but RED MACD is not (i.e. Secondary trade). The reason Bob mixed the faster Stochs with Slow MACD was to ensure you have a balanced indication of OS and OB. I have noticed many of my trouble trades are secondary trades where RED MACD was not in position. Hope this helps.
Attached File(s)
File Type: xls nb ver5 first 2 weeks March 2011.xls   52 KB | 360 downloads
  • #3,926
  • Mar 11, 2011 8:16pm Mar 11, 2011 8:16pm
Quoting astral77
Hi

FYI my results for the past 2 weeks. I agree caution must be the number 1 consideration. With 4H and above we must always keep an eye on the fundamentals.

Kind regards
P.s. As you can see I have quite a few jpy pair trades, I will keep an eye on them to ensure they do not cause trouble.
Thus far the a/c is up 10% this year.
P.P.S. NB for conservative trading, Use Phover`s dashboard and ensure you have RWB green (i.e. all 3 are in oversold /overbought) position. Many people take a trade when the Stochs are in position but RED MACD is...
I had a great week made 336 pips or 2%.....
  • #3,927
  • Mar 11, 2011 8:48pm Mar 11, 2011 8:48pm
Hello everybody! I am new in Nanningbob's trading concept and also in Forex. Thank you for the effort made by Nanningbob and other friends!Yesterday I noticed the T3MA indicator, but I don't know if this indicator repains just like the other repaining ones. If it is a repain indicator, how to use it?
  • #3,928
  • Mar 13, 2011 9:59am Mar 13, 2011 9:59am
Quoting skinsomnia
Hello everybody! I am new in Nanningbob's trading concept and also in Forex. Thank you for the effort made by Nanningbob and other friends!Yesterday I noticed the T3MA indicator, but I don't know if this indicator repains just like the other repaining ones. If it is a repain indicator, how to use it?
There have been several discussion about the TMA and whether or not it repaints or not...

The answer you should be looking for, imho is that the TMA gives you a signal in real time. What I mean by signal is that it gives you a trade entry signal.

TMA stands for Triangulated Moving Average and all moving averages move around as price does. So yes it moves and looking back on trades that you have taken that go into DD it will look like you entered prematurely but in fact you had a valid entry signal in real time.

***I beg of all of you not to get into a debate about repainting versus not repainting of the TMA.***

How to use the TMA? basically when the TMA is penetrated it mans price is at an extreme and in confluence with the RWB either above 85 or below 15 means that you have a great chance of price reversing and a counter trade entry and making some pips....that is very basic. browse thru my posts for more detail.
  • #3,929
  • Mar 13, 2011 10:42am Mar 13, 2011 10:42am
Quoting Radio

***I beg of all of you not to get into a debate about repainting versus not repainting of the TMA.***
i am with you on this.

but did you manage to make the dashboard from phover work with the tma?
meine augen sind die sterne
  • #3,930
  • Mar 14, 2011 1:46pm Mar 14, 2011 1:46pm
closed trades for today:
eur/gbp intraday with #2 +30 pips
gbp/usd since friday with #1 +70 pips.
meine augen sind die sterne
  • #3,931
  • Mar 15, 2011 8:38am Mar 15, 2011 8:38am
Quoting Radio
There have been several discussion about the TMA and whether or not it repaints or not...

The answer you should be looking for, imho is that the TMA gives you a signal in real time. What I mean by signal is that it gives you a trade entry signal.

TMA stands for Triangulated Moving Average and all moving averages move around as price does. So yes it moves and looking back on trades that you have taken that go into DD it will look like you entered prematurely but in fact you had a valid entry signal in real time.

***I beg of all of you not...
Good answer, you were more diplomatic than I　was on that one.
  • #3,932
  • Mar 15, 2011 10:19am Mar 15, 2011 10:19am
Quoting sebring001
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.
Hello

jumped into this thread really too late,and landing here from NB 1.0 Trend system thread

I'm focused on TheOldBeast at the moment,and as SteveHopwood said in the Manual "...To trade this robot, you have to understand how to use the Sixths indicator. To learn how to do this you need to learn NanningBob's V5 trading system.."

I'm making my homework scrolling everyday as many posts as I can and testing on a Demo Account the Old Beast - Default settings

IMHO IT IS impressive
TOB is the most interesting EA I've ever seen,and about all of you workin' on this project ... you are great

My first question for all the experienced TOB traders:
do you usually shut down the EA during the major Red Flag news (NFP,BankRates and so on)?

If I grasped the main concept,the TOB should be left runnin' 24 hrs 5 days ,
but I don't like Friday and Weekend Gaps,so better to ask to more skilled ....TOBBERs I really hope tobber is not a bad word in En-Us-Aus ..

thank you in advance

I hope to give my contribution to this thread during the next months..
Account deleted
  • #3,933
  • Mar 15, 2011 10:32am Mar 15, 2011 10:32am
Hi Swiss, This is not really a thread for TOB but for the manual method. For the manual method it's wise to stay out of interest rate, government bailout and perhaps nucreal meltdown stories as well. This is a counter trend system, if you can you want to avoid long runs without any decent retrace. Most news stories may move the market but few move the market 600 pips without a retrace. Still, sometimes the market will move that much (or more) and you have to be ready for that. If and when you go live, start out with tiny positions. In this thread there have been several formulas to calculate lotsize. I just keep it so that I can go 10,000 pips into drawdown without a margin call. As I build my account I increase my lotsize but I also increase my safety margin so I can go into drawdown even more. Another thing for the manual method (can't comment on TOB) is that you want to limit your exposure to any currency. I think most limit it to 2 trades per currency. Good luck trading. Today certainly is an interesting day for it!
  • #3,934
  • Mar 15, 2011 6:15pm Mar 15, 2011 6:15pm
I got stuck on the wrong side of the USD/CHF and am in a fair drawdown right now ... however, I know from experience that you can usually get urself out of these things with patience and good trading.

Aside from that, even though Im getting signals (mostly on AUD crosses) I'm sticking out of going anything counter trend, esp against the resource currencies or anything like that.

Systems tend to go out the window at times like these
  • #3,935
  • Mar 15, 2011 7:35pm Mar 15, 2011 7:35pm
Yes maybe my post is slightly out of topic
sorry about it,and thx for reply

about Usdchf,a quick note just to make you know that TOB is trying to manage some losses on that pair at the moment

It's really interesting to see how the Old Beast acts in this very difficult markets

be prudent
Account deleted
  • #3,936
  • Mar 16, 2011 4:28pm Mar 16, 2011 4:28pm
lost a shed load on my usd/chf trade that u was trying to manage. Decided to sell as things are looking horrible. Live to fight another day.

Something is seriously up right now, usd/chf fell almost 200 pips in the last 20 mins.
  • #3,937
  • Edited 4:44pm Mar 16, 2011 4:33pm | Edited 4:44pm
man, freaky stuff. some went 200 pips in seconds. Glad i was at the screen to hedge everything. Was foolish/lucky to have mptm still on with manage all trade settings. Got some huge profits on some spikes but it was stressful to see my hedges disappear in seconds.

edit: one thing I don't get is that even now I have hedged my trades with equal lotsizes (both long and short with the same lotsize) my total drawdown still changes. How does this work? I assumed it would remain the same after hedging.
  • #3,938
  • Mar 16, 2011 9:18pm Mar 16, 2011 9:18pm
I have been following this method. I couldn't understand if one could have avoided a trade with this pair yesterday, as it moved >500 PIPS in one hour. Any idea how it could have been avoided?
  • #3,939
  • Mar 17, 2011 1:34am Mar 17, 2011 1:34am
Quoting shivya
I have been following this method. I couldn't understand if one could have avoided a trade with this pair yesterday, as it moved >500 PIPS in one hour. Any idea how it could have been avoided?
Yeah, if the country is having the largest earthquake in modern history and you have several nuclear reactors melting down, you dont trade any JPY pair. Always watch those super news stories.
  • #3,940
  • Mar 17, 2011 1:48am Mar 17, 2011 1:48am
well, you really should not try to trade big news stories as they can make price jump. Since Japan is such a big economy the current news has an effect on most other currencies. Also, when using the recovery system it's better to look at the market and act on that rather then just entering a new level every 200 pips.

Unfortunately I was in a few recoveries already (EURAUD, NZDJPY, USDCHF) so I hedged those. I closed all trades that weren't in recovery to limit my exposure. Needless to say I have switched all eas off. My plan now is to sit and wait until things return to a somewhat more normal state. Then I'll have to trade my way out of the recoveries and hedges. I am lucky to have a 1:500 broker so I don't need to worry about my margin. All I need to manage is drawdown. I'm also happy that I used conservative lotsizes so I still have plenty of free margin left to try to trade my way out of drawdown.

If anyone has good advice on un-hedging trades then I am all ears. My plan now is to use recovery when possible trading both ways (whatever is appropriate according to the system). I want to use lvl1 lots to limit risk. When taking profit I hope to partially close one of the loss trades for an equal amount. Suggestions on how to go about things differently are obviously more then welcome!

edit: on a bright note. I did make 267 euros last night, where on an average day I am quite happy to make 20. I would have made nearly 500 but as I said I closed a bunch of lvl1 trades.
I hope everyone's accounts survived last night's spikes.
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