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Nanningbob 4h trading system ver. 5.0

  • #3,961
  • Mar 20, 2011 3:57pm Mar 20, 2011 3:57pm
Bob,

Have you ever looked at trading the 5.3 or any system on the daily chart versus the 4H?
  • #3,962
  • Mar 20, 2011 11:06pm Mar 20, 2011 11:06pm
Those of you who have been following how I adjust the outer TMA based off price action...well that theory is blown out of the water for a little while until the markets come back to normal. This is especially true for the yen pairs.

I will give updates as I can. I need some chart time to think about this

Curious week ahead of us...good luck to all!
  • #3,963
  • Mar 20, 2011 11:10pm Mar 20, 2011 11:10pm
Quoting aserbfx
i am with you on this.

but did you manage to make the dashboard from phover work with the tma?
I dont use the dashboard..sorry
  • #3,964
  • Mar 21, 2011 2:54am Mar 21, 2011 2:54am
Quoting Radio
Bob,

Have you ever looked at trading the 5.3 or any system on the daily chart versus the 4H?
I have looked but the 4H fits my work schedule so well. Daily candles start when I have the least amount of time to trade.
  • #3,965
  • Mar 21, 2011 6:45am Mar 21, 2011 6:45am
Quoting nanningbob
I have looked but the 4H fits my work schedule so well. Daily candles start when I have the least amount of time to trade.
Makes sense
  • #3,966
  • Mar 21, 2011 6:52am Mar 21, 2011 6:52am
I have the same weakness as Bob and that is over trading

So I did enter 1 trade on Friday and it was EurCad short made +74 pips

Just turned on a #1 sell for GU

Thinking I might be able to grab another level short here on the EU but I am a little nervous about that right now. I have a #1 sell on since last night but price has gone no where.

I may have to take my first Level 1 loser of the year on the EU if it does not turn around soon.
  • #3,967
  • Mar 21, 2011 9:31pm Mar 21, 2011 9:31pm
Quoting Radio
I have the same weakness as Bob and that is over trading

So I did enter 1 trade on Friday and it was EurCad short made +74 pips

Just turned on a #1 sell for GU

Thinking I might be able to grab another level short here on the EU but I am a little nervous about that right now. I have a #1 sell on since last night but price has gone no where.

I may have to take my first Level 1 loser of the year on the EU if it does not turn around soon.
here is the GU that got me in with #1 outside the outer TMA.
http://i688.photobucket.com/albums/v...onaut/3-11.gif


looking to get short on EU with #3
http://i688.photobucket.com/albums/v...onaut/3-12.gif
  • #3,968
  • Mar 22, 2011 8:18am Mar 22, 2011 8:18am
Quoting Radio
here is the GU that got me in with #1 outside the outer TMA.



looking to get short on EU with #3
closed the GU at +10 when the EU opened...the EU is my make or break recovery trade and I am glad I got out of the GU since it went up to make 14 month highs
  • #3,969
  • Edited 10:33pm Mar 23, 2011 7:29pm | Edited 10:33pm
Quoting astral77
PATIENCE is the KEY, but greed is not good. I think I am going to SHOOT myself. because 12 hours ago my dd had more than halved
You know the saying " a week is a long time in politics", well it is even longer in FOREX. I wrote the above 6 days ago and now I let the results speak for themselves. I have attached the file for the last two weeks, please have a look.

I have to thank BOB for my survival in FOREX, if it was not for him last year I would have made a loss for the third year running and for all intents and purposes I was done with trading forex. I have learnt a lot from the great man. I affectionately call BOB, Steve and two other traders my teachers. But he has had the most influence on me and has contributed to some of Steve’s best EAs. For anyone new to forex and this forum the rules are simple.
1. KEEP the lot sizes small.
2. THINK of how much you can lose rather than how much you can make.
3. What GOES UP MUST COME DOWN.
4. Have PATIENCE and do not PANIC (I still have to work on this).
5. Stay out of trades during SUPER NEWS periods (I definitely have to work on this also).

If I was new to Bob`s thread the ideal advice some one could have given me would have been to open a PENNY ACCOUNT with $500.00 and trade 1 penny per lot (it is same as $5000.00 a/c trading 10 cents per pip). Use Phover`s dashboard and enter when the three indicators were green (i.e. RWB in Oversold/bought territory, Price is not in the middle of the chart and Bollinger bands are satisfied). After a period of no less than 6 months if you are in profit you are ready to go in full mode but keep to minimum balance of $2000 if trading 10 cents a pip. That is all, the simplest and easiest method I have ever seen.

THANK YOU BOB for teaching us your unique method and turning our trading journey around. You remind me of Boris Schlossberg. He says do as I say and not as I do. May be we, as students can give something back to you by reminding you that your systems do work and maybe you should have more faith and patience with your systems. As you can see I am not using hedging and I trade within US regulations (i.e. 50:1 margin). Therefore, this system still makes good money with new US regulations. As you may recall, last year I was trading your NanningBob's 4H Sellhigh BUYLOW system and it was making money also. I was discussing it with another FF member who is trading it successfully till this day. I do not need to say anything else except a final big thank you from the bottom of my heart. I pray that more and more people find their way here and they can benefit from your teachings as much as I have.

Kind Regards
Attached File(s)
File Type: xls NB VER5.3 results 11th to 23 march.xls   44 KB | 958 downloads
  • #3,970
  • Mar 23, 2011 9:51pm Mar 23, 2011 9:51pm
Quoting astral77
You know the saying " a week is a long time in politics", well it is even longer in FOREX. I wrote the above 6 days ago and now I let the results speak for themselves. I have attached the file for the last two weeks, please have a look.

[color=black][font=Verdana]I have to thank BOB for my survival in FOREX, if it was not for him last year I would have made a loss for the third year running and for all intents and purposes I was done with trading forex. I have learnt a lot from the great man. I affectingly...
Bravo and I second that!!!
  • #3,971
  • Mar 24, 2011 2:12am Mar 24, 2011 2:12am
Quoting astral77
You know the saying " a week is a long time in politics", well it is even longer in FOREX. I wrote the above 6 days ago and now I let the results speak for themselves. I have attached the file for the last two weeks, please have a look.
Kind Regards
Could not agree more! Since adopting Bob's 5.x method I have made a profit every month, always between 5 and 15% of my account. Thanks to Bob's recovery system I now have a plan in place for when trades don't go my way, as some will always do, no matter what system you trade. This way I can go to work or go to bed without having to worry what I'll find when I get back to the computer screen. No matter what I find, I'll have a plan.

Meanwhile I'm slowly working my way out of some serious drawdown after the Japan/Libya crisis. So yes, I too still have lots to learn but it's great that I am making a profit while I am learning.

To sum things up: Bob is the man!
  • #3,972
  • Edited 6:43am Mar 24, 2011 6:28am | Edited 6:43am
Well I wanted to let you fine folks know about a recover trade I closed out yesterday. some will tell me I am crazy and others may think that I have balls of steel...either way I hope some one learns from this as I did.

the story...is how my best/largest trade ever canceled out my worst trade ever! and I was a little nervous!!!!

1. I entered L1 short on EU on 1/13/11
2. when price went -400 on 1/21 I took a level 2 at 4 times the L1
3. on 2/23 over 1 month later I took a L3 about another 200 pips against my position.
4. Level 1 ended up going a total of 1100 pips against the L1 short.

What I did is I entered a L4 at 10 times the lot size of L1 with the goal of canceling out the L1 with the L4 and coming back another day for the L2 and the L3. Long story short it worked and I lost $3 on the deal. I should have staying in another 20 min and I would have made a little profit but when I have been in a trade since 1/13 and it is 3/23 and I had a chance to cancel it out I took it. I had to leave for work and I would have rather taken a small loss than that 1100 pips loss or the L4 that was 10 times the original lot size go against me.

because I knew if L4 went against me that I would have to take huge losses I did put in a stop profit once it had moved to +40.
so the to sell canceled out the bottom sell and left the L2 andL3 for another day

here is the chart
http://i688.photobucket.com/albums/v...onaut/3-13.gif

I entered the L4 off the #3 bulge sell mentioned in previous post and shown here below.
http://i688.photobucket.com/albums/v...onaut/3-12.gif
Thanks Bob.... Thanks for showing us how to keep out profits!
  • #3,973
  • Mar 25, 2011 12:58am Mar 25, 2011 12:58am
I feel like no one hardly follows this thread anymore....
  • #3,974
  • Mar 25, 2011 1:03am Mar 25, 2011 1:03am
Quoting Radio
I feel like no one hardly follows this thread anymore....
i do and appreciate your posts!
meine augen sind die sterne
  • #3,975
  • Mar 25, 2011 1:37am Mar 25, 2011 1:37am
Quoting Radio
I feel like no one hardly follows this thread anymore....
"7 traders are viewing this thread"

most people don't post it seems but they sure are reading it.
  • #3,976
  • Mar 25, 2011 1:37am Mar 25, 2011 1:37am
Quoting aserbfx
i do and appreciate your posts!
So do I !

Thanks and regards
  • #3,977
  • Mar 25, 2011 5:51am Mar 25, 2011 5:51am
hello Astral 77
could tell me to get the phover´s dashboard?
There is not in te post #496
thanks
  • #3,978
  • Mar 25, 2011 9:32pm Mar 25, 2011 9:32pm
Quoting astral77
You know the saying " a week is a long time in politics", well it is even longer in FOREX. I wrote the above 6 days ago and now I let the results speak for themselves. I have attached the file for the last two weeks, please have a look.

[color=black][font=Verdana]I have to thank BOB for my survival in FOREX, if it was not for him last year I would have made a loss for the third year running and for all intents and purposes I was done with trading forex. I have learnt a lot from the great man. I affectionately...
Thanks guys appreciate the comments. I am humbled that I can actually help people in this crazy business but it took a lot of losses to get where we are today. Here is an interesting note from someone trying to sell something. Does this sound familiar to you guys???

So let's talk about money management:

It's of the utmost importance to pay strict attention now. We want to trade no more than 10% of our account at any one time. That means for example on a $10,000 account you would not trade more than one full lot (1.0) assuming a 1:100 margin.

Now since we're trading 26 currency pairs we want to divide that one full lot (1.0) by 26. Rounding of course is fine. In this example you would trade .03 to .04 micro lots maximum per trade. If your account is set up for 1:50 margin trade half that amount. That means small lot sizes like .01 to .02.

Get the idea? We are using proper money management and spreading out our risk across as many as 26 currency pairs. Even with large drawdowns simultaneously on multiple currency pairs it's unlikely to get a margin call.
  • #3,979
  • Mar 26, 2011 5:42am Mar 26, 2011 5:42am
Quoting nanningbob
Thanks guys appreciate the comments. I am humbled that I can actually help people in this crazy business but it took a lot of losses to get where we are today. Here is an interesting note from someone trying to sell something. Does this sound familiar to you guys???

So let's talk about money management:

[color=indigo]It's of the utmost importance to pay strict attention now. We want to trade no more than 10% of our account at any one time. That means for example on a $10,000 account you would not trade more than one full...
I fully agree.

The way I would handle it with a 1:100 is to divide your balance by the maximum number of potential trades you could have open * 10000.

So, in the example Bob gave it would be 10000 / 260000 = 0.03

Scoobs.
  • #3,980
  • Mar 26, 2011 9:50am Mar 26, 2011 9:50am
Quoting scooby-doo
I fully agree.

The way I would handle it with a 1:100 is to divide your balance by the maximum number of potential trades you could have open * 10000.

So, in the example Bob gave it would be 10000 / 260000 = 0.03

Scoobs.
That is what I do too Scoobs. I have a max amount of lots open at once. I f see more trades I want to take I then scale back the lot size on the newr once. Or like when I had to take that huge recovery trade that was 10 times the original lot size of L1. I put me at my limit or I would have been 11 times the original since the L1 was -1100 pips.

So my rule is for every 1000 in my acct I have 10 micro lots open on L1 trades that way I have plenty of room to get out of the DD
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