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Nanningbob 4h trading system ver. 5.0

  • #4,061
  • May 12, 2011 8:40pm May 12, 2011 8:40pm
Quoting nonfiction
Good to hear your coming back bob! It's amazing how quiet the threads go when your not around. Those are incredible numbers and I wanted to ask you bob if you have ever considered doing a webinar / youtube video documenting some of your trades on the 5.0 4h system for people to view.

I think it would give great exposure to a great system.

Look forward to you return.
No havent thought of it. I guess at some point I need to make money for my time but that is not why I share. I really could not have developed these systems without the constant input of others. I am working on a program similar to my 60x90 but different numbers and time frames. Since price ranges every day for most of the day and sometimes ranges for weeks at a time. I am developing an EA that trades those ranges. I take what I would trade on the first level--like .05 and let it be a two level trade .02 and a quick recovery of .03. If price runs away then I trade those two levels in recovery like they were the first level of a normal trade of this system. Those of you that have been using my systems will catch on quickly but I feel sorry for those who try to start new with it. Gonna be a little complicated. So a normal level 1 trade is divided into 1A and 1B and you try to get 1 or 2 profit trades a day. Then if price runs on you you use the 8x60 system to recover with a 2nd level or even a third if you need. Dont know how to explain it where a beginner could understand at this time. Anyway, I have a fertile mind.
  • #4,062
  • May 12, 2011 9:36pm May 12, 2011 9:36pm
Quoting astral77
You can find more information in this thread http://www.forexfactory.com/showthread.php?t=274194 . Or simply go to Bob`s profile and go through his last 100 posts. You will find BOB`s posts are very much informative and does not have the noise associated with the threads.

Someone asked me for the files for the dashboard since they had problems downloading from Phover`s thread. Please find attached the files I have for the dashboard.

Kind Regards
P.S. As you mentioned this month has been a bad month for NB Ver5. I was wondering if NB...
Trends are caused by major news stories, all indicators are after the fact. It is the one fundamental all traders need to understand. Certain news or government acts cause trends to happen for example: interest rates change is probably the biggest one that happens on a regular basis. Major government news about their currency is another. Some of them you can know that a currency will run others you may have no idea. Earthquakes with nuclear power plants going haywire will affect the JPY for a long time. I have no idea how to trade JPY right now. NZD earthquake affected NZD for quite a time. Government bailouts, like last year Greece and again the rumors this year cause price to make long runs. The USA Oct. 2008 bailouts of the banks caused some of the biggest moves in currency in decades. Daily news reports and things news traders trade are not major moves and last usually hours. NFP is not a major trend setter. So when something makes the market move for weeks at a time is a fairly well known story and easy to get out before things get bad. For the first time I finally have learned my lesson and I stayed out after the JPY earthquake. Saved me a lot of grief but I tested a theory and it passed the test.

I would love to say that the future markets will be settled but that is not what I think will happen. I see markets getting more and more volatile until governments quit trying to solve problems by borrowing more and more money. I am hoping the politicians in Washington are finally getting the message. I just pray it isnt too late. I still think we are a ways from disaster but we will have one if we dont stop this insane borrowing. Sorry for the political crap. I probably shouldnt have mentioned it.
  • #4,063
  • May 13, 2011 12:54am May 13, 2011 12:54am
It's your thread, you can post whatever you like. I think it's useful for everyone in trading to be aware of the macro economic situation.

Your lvl1 0.2 + 0.3 entry sounds like you want to scale into a trade. I have played with this too recently. Do you also plan to add the 0.3 trade when the 0.2 goes into profit? For trend trading this seems to make sense but I'm not sure for countertrend. I have tried that too but my results were mixed. Most of the time my s/l was hit for breakeven (both trades having the same s/l).

Anyway, glad to hear you will be able to free up more time for trading soon. Good luck those coming weeks, it sounds exhausting.

Now let's hope the EURUSD will go up again so my upcoming trip to the US will be even more affordable
  • #4,064
  • May 13, 2011 7:29am May 13, 2011 7:29am
Quoting MorningMania
It's your thread, you can post whatever you like. I think it's...
I tend to be somewhat opinionated when it comes to economics and politics, I always thought Reagan's greatest failure was not getting the balanced budget amendment going. Well enough of that.

Scaling in is very much what professionals do but you probably would get your best results using a daily chart to do that and entering off of support and resistance lines on the daily and weekly charts. You also would know what major fundamentals you should be watching for so you have a good idea when a run is exhausted. I am not that good at fundamental trading to know but I am pretty sure that is what they do. I have never tried trading that way but I surmise that is how most professionals do it.

I am trying to scale in on just the normal bouncing of the market which is what it does over 70% of the time. I am hoping the profits from that will help offset the occasional run and my ability to zero out others. So scaling in level one and offsetting the rest will be an interesting thing I am sure.
  • #4,065
  • May 13, 2011 9:55am May 13, 2011 9:55am
Quoting nanningbob
...If I use 2000 dollars then my gain is almost 12% or 6% a month and DD is 11%. That is very acceptable for bad times. 3 more weeks of 2 jobs and I am back in business again. I am getting excited about trading again.
We are all excited when we see you trading sort of full time. As you say at the time of super news it is best to stay away till things settle down a bit, however, once the initial storm is over they can be traded. I was watching wykoff webminar where they were analyzing the stock market charts of 1929-1933 and even during that big bear market there were quite a few bull rallies. However, it is a high risk strategy.

Coming back to NB VER5 trades, I used to stop taking new trades when I had big running DD. However, I realized I was missing on good trades so I changed my strategy this year and traded good setups regardless of the running DD (this is where adequate capital is very useful). The result has been very satisfactory thus far. For instance during the last 6 weeks managed to bank over $350 in profits.

Kind regards
  • #4,066
  • May 13, 2011 4:49pm May 13, 2011 4:49pm
Hello Bob, hello Astral,

I am impressed about your numbers. I have had very good results until my personal JPY desaster (as I did not close one trade afte Fukoshima which eliminated 4 months profit -> still fighting with the hedge). But to be honest, I got a return of 80% in a year (before the JPY trade), which is great, but not as good as yours.

One thing I notice is that I do have a quite challenging job and sometimes I do not have the opportunity to check my trades for some days. Then immediately my profits are going down drastically. When I have the possibility to check my trades 3-4 times a day everything is fine.

I know you mentioned some months ago your trading time, but I would like to know how much time do you real spend a day/week and how often do you check your trades?

My ideal day (when I do have time for trading) is:
I checkearly morning around 7:00 (CEST) - just 5 minutes
daily settings and decisions I usually make around 9:00 - 15 minutes
adjustments 12:00 - 10 minutes
quick check around 17:00 - just 5 minutes
and depending in the evening another 5-10 minutes, sometimes hours...

The rest I spend in work or following your threads

How much time do you spend (just for the NB5.x) and when?
(at least when I see your posts, it feels that some of you trade all the day?)



Bambo0
  • #4,067
  • May 13, 2011 6:26pm May 13, 2011 6:26pm
Quoting Bambo0
Hello Bob, hello Astral,

I am impressed about your numbers. I have had very good results until my personal JPY desaster (as I did not close one trade afte Fukoshima which eliminated 4 months profit -> still fighting with the hedge). But to be honest, I got a return of 80% in a year (before the JPY trade), which is great, but not as good as yours.

One thing I notice is that I do have a quite challenging job and sometimes I do not have the opportunity to check my trades for some days. Then immediately my profits are going down drastically. When...
The beauty of trading 4 hour charts is you only need to check every 4 hours. Just takes a couple of minutes to see if you want to take your profit or set up for a future trade. It fits my lifestyle. If you cant do 4H charts maybe you could do daily charts and get to them once or twice a day?
  • #4,068
  • May 13, 2011 6:27pm May 13, 2011 6:27pm
Quoting Bambo0
Hello Bob, hello Astral,..
How much time do you spend (just for the NB5.x) and when?
(at least when I see your posts, it feels that some of you trade all the day?)
Bambo0
Hi Bamboo,

The beauty of this system is the fact that it was designed by BOB for people who have full time jobs, so we do not need to be front of the screen for hours and hours. There are many good profitable systems here in FF but I do not know of any other system which is this flexible and undemanding on trader`s time. Having said that bear in mind that this is a manual system and you need to keep an eye on the trades and setups.

I work in London so my times are GMT (from April to end October GMt+1). Depending on work commitments on average I check the trades and set ups around 10:00, 14:00, 18:00 and 00:00. During the day I use Phovers dashboard and it takes around 5 minutes each time. At night I look at every chart and it takes on average 30 minutes. So in total less than 1 hour per day, however, if I need to rush things I suppose can do the same things in half the time. I hope this helps.

Kind Regards
P.s. Please find attached my results for this week. Finally the market is a bit more NB friendly this week. Profit of $150 and DD reduced to $360. Mind you there is no guarantee the running DD would not increase to $600 mark once again, bearing in mind I am 4 levels in one trade and 3 levels in 2 trades.

BOB do you think it is better if I just take the loss and close the lingering trades. Please let me know what you would do in such situations.
Attached File(s)
File Type: xls NB VER 5.3 6th to 13th May 2011.xls   191 KB | 357 downloads
  • #4,069
  • May 14, 2011 1:08am May 14, 2011 1:08am
Quoting astral77
Hi Bamboo,

The beauty of this system is the fact that it was designed by BOB for people who have full time jobs, so we do not need to be front of the screen for hours and hours. There are many good profitable systems here in FF but I do not know of any other system which is this flexible and undemanding on trader`s time. Having said that bear in mind that this is a manual system and you need to keep an eye on the trades and setups.

I work in London so my times are GMT (from April to end October GMt+1). Depending on work commitments on average...
There are some things you can do to lessen the pain. For example take a days profit and wipe out one of the losses. Lets say you have -20 loss riding on a 2 lot aud/usd. Today you made +10 on all your trades or the last 2 days +10. I would take that +10 and close one lot of that trade at -10. That evens out the trade. If you do it right it might take a week or two but your account stays level while you clean up some bad trades. I only close completely out in loss when I know the fundamentals are really against me like last years Greek default. I knew the euro trades were just a bust so I closed them. If there is no compelling fundamental force then you can try to fight your way out.

Another thing I do is I take a look at all my trades on that currency for the last month or two. If I am at -20 now but all my trades equal +18 or something close I justify that I am close enough to break even to take the hit. So the last two months I made nothing on that pair.

The problem with the AUD right now is countries are buying its commidities as a hedge against inflation. Like stocking up on gold for rainy days. When countries, like China, think they have stored enough up or their economies slow down, the Aussie will drop like a rock. Their currency is way overpriced but until the USA gets its financial house in order that will continue. So if the Dems and Republicans come up with a strong deficit reducing package and tax increases to stop the heavy borrowing this summer. You could see countries relax about their fears of a dieing dollar and the Aussie come down quickly. Once people think the dollar will steady its course the markets will return to normal and we can get back to trading. Aussie products do not sell well as exports when its currency is near parity or higher with the dollar. But overbuying of commodities is being used to hedge against the dollar devaluing so it is at an all time high.
  • #4,070
  • May 14, 2011 1:39pm May 14, 2011 1:39pm
Quoting astral77
Hi Bamboo,

The beauty of this system is the fact that it was designed by BOB for people who have full time jobs, so we do not need to be front of the screen for hours and hours. There are many good profitable systems here in FF but I do not know of any other system which is this flexible and undemanding on trader`s time. Having said that bear in mind that this is a manual system and you need to keep an eye on the trades and setups.

I work in London so my times are GMT (from April to end October GMt+1). Depending on work commitments on average...

Hello Astral,

if you are using the Phovers dashboard, then you are also still on 5.2 with the bollinger band right (same for me)?

Bambo0
  • #4,071
  • May 15, 2011 5:08pm May 15, 2011 5:08pm
Thanks BOB, for your comprehensive reply. As you can see from my results most of my running DD is due to USD pairs. IMHO USD has big, big problems and I do not think the politicians have the courage to do the right thing (which would be political suicide and not popular with the electorate). Moreover, Euro, GBP have their own problems and with recent catastrophe in Japan the JPY is in for uncertain times as well. With commodities (CAD, NZD, AUD) their fortunes are very much tied to the rest of the world. Bearing this in mind I think will stick with the losing trades for a while as see how it goes.

Bamboo, I am using phovers to save time and as far as BB is concerned I think combining them with the sixths indicator was pure genius on part of BOB.

Kind regards
  • #4,072
  • May 19, 2011 11:59am May 19, 2011 11:59am
Astral,
I am looking for the most ranging pairs to do testing with a modified Bob's countertrading strategy buy with timeframe 15 minutes (trying to scalp the system). It is just a project and later I could share here.
Besides, have you had experimented with scalping? Have you used or you know a good scalping EA to play around with specially multiples pairs at the same time?

Thanks before hand and thanks to maintain this forum active now that Bob is in the sidelines. (Bob looking forward your soon comeback to the daily fight)
  • #4,073
  • May 19, 2011 5:35pm May 19, 2011 5:35pm
Astral,
I found this from Bob in a post from August 2010:

4. LOW VOLATILITY GROUP: THEY WILL MOVE OVER 300 PIPS IN ONE WEEK LESS THAN 25% OF THE TIME.
a. AUD/NZD, NZD/USD, CHF/JPY, AUD/CAD, USD/CAD, NZD/CAD, AUD/USD, EUR/CHF, EUR/GBP

Could you think that they are still valid now in May 2011?
Regards,
  • #4,074
  • May 20, 2011 3:49am May 20, 2011 3:49am
Quoting trustdom
Astral,
I found this from Bob in a post from August 2010:

4. LOW VOLATILITY GROUP: THEY WILL MOVE OVER 300 PIPS IN ONE WEEK LESS THAN 25% OF THE TIME.
a. AUD/NZD, NZD/USD, CHF/JPY, AUD/CAD, USD/CAD, NZD/CAD, AUD/USD, EUR/CHF, EUR/GBP

Could you think that they are still valid now in May 2011?
Regards,
I would like to update this list using a different criteria. I will post the info this weekend. There are about 11 or 12 pairs that dont tend to run away from you and I have been testing them for about 2 months now. You will see my logic when I show you the new criteria I use.
  • #4,075
  • May 20, 2011 8:26am May 20, 2011 8:26am
Quoting trustdom
Astral,...Could you think that they are still valid now in May 2011? Regards,
Hi

As you can see BOB has replied to you. Do not forget he is the master and I am the student. He has not abandoned this thread, however, he is extremely busy person this year, as you know he is running a expat school in china and this year they are short of teachers as well.

Please find attached my results for the last 7 days. Very quiet week with few set ups. Experience has showed that weeks like this one can be dangerous, because the novice trader gets bored and wants to place trades which are not ideal.

As you can see there is a loss of $121 for the week, this is due to the fact that I have closed some bad trades which were lingering on for more than 2 months and as a result have reduced my floating DD. Last week DD was around $360. It is $200 as of now. The floating profit for 2011 is around $900 (using 10 cent lots).

Kind Regards
Attached File(s)
File Type: xls NB VER 5.3 14th to 20th May 2011.xls   201 KB | 314 downloads
  • #4,076
  • May 20, 2011 10:53am May 20, 2011 10:53am
Quoting nanningbob
I would like to update this list using a different criteria. I will post the info this weekend. There are about 11 or 12 pairs that dont tend to run away from you and I have been testing them for about 2 months now. You will see my logic when I show you the new criteria I use.
Bob many thanks for your prompt answer and I will looking forward your news about your new criteria to clasify pairs volatility. If my testings are promising I will share with all of you.
Hope that you solve your teaching resources soon. We need our mentor with us...
  • #4,077
  • May 20, 2011 10:55am May 20, 2011 10:55am
Quoting astral77
Hi

As you can see BOB has replied to you. Do not forget he is the master and I am the student. He has not abandoned this thread, however, he is extremely busy person this year, as you know he is running a expat school in china and this year they are short of teachers as well.

Please find attached my results for the last 7 days. Very quiet week with few set ups. Experience has showed that weeks like this one can be dangerous, because the novice trader gets bored and wants to place trades which are not ideal.

As you can see there is a loss...
Astral, many thanks for your answer and information. Congrats for your results and discipline. This has been tought times to trade...
  • #4,078
  • May 21, 2011 6:46pm May 21, 2011 6:46pm
Here is my new information on the range of pairs based on the high and low over a period of time. I have three columns in the excel sheet. First group is pairs in alphabetical order. 2nd group is range of pairs since Oct. 2008 and then April 2009. You have to remember that Oct. 2008 was the banking crisis and gave us the biggest moves in our lifetime. Probably wont see price moves like that again (unless USA goes Bankrupt or something stupid like that) So I put together a 2nd grouping since April 2009 which is probably more accurate. This is the high/low since that time. The one thing to watch for is many pairs right now are at their all time high or low and makes things interesting. So enjoy the information and this allows you to choose what you may want to trade over a period of time. Enjoy.
Attached File(s)
File Type: xls RANGES OF PAIRS.xls   34 KB | 414 downloads
  • #4,079
  • May 22, 2011 8:41pm May 22, 2011 8:41pm
Quoting nanningbob
Here is my new information on the range of pairs based on the high and low over a period of time. I have three columns in the excel sheet. First group is pairs in alphabetical order. 2nd group is range of pairs since Oct. 2008 and then April 2009. You have to remember that Oct. 2008 was the banking crisis and gave us the biggest moves in our lifetime. Probably wont see price moves like that again (unless USA goes Bankrupt or something stupid like that) So I put together a 2nd grouping since April 2009 which is probably more accurate. This is the...
Bob,
MANY THANKS!!!
This is a fine work from you and it will be of great help for me.
Have a nice week.
  • #4,080
  • May 24, 2011 7:31am May 24, 2011 7:31am
Hi guys, first of all I'd like to thank author of the thread and everybody who makes any contribution to the system.

I was a little bit shoked, when I was reading about this system, coz near 6 months I'm trading almost the same thing as you, but your ideas with different EAs are unbelievable. But still I have one question, how do you take profit, and waht's your average profit?

Now I want to share with you, how i manage my workplace, may be it can help somebody. Trading is my second job, and I can't sit all the time at PC, but my Iphone (or Android based cell-phone) is always with me. So I make my own "server at home".

1) I run Metatrader at my Laptop and left it on all days long (it doesn't eat much electricity and internet).
2) I run special programm "TeamViewer" (it's free programm) on my laptop and on my cellphone.
3) So anywhere I am, I'm able just in 2 clicks get into my Laptop. On the screen of my cellphone I see a screen of my pc and I'm able to move cursor type any text copy files, I'm able to do almost everything!

So that way I trade, when I'm out of the computer, hope it will help anybody.
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