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Nanningbob 4h trading system ver. 5.0

  • #4,101
  • Jun 6, 2011 1:26am Jun 6, 2011 1:26am
Quoting astral77
Thank you BOB. Yes I know what you mean. Although the instances of false breakouts and whipsaws are much fewer when the price is above / below the gold line of the sixths indi and also all other conditions are in place. Another way of limiting line retraces is to wait for the close of the candle. I am contemplating asking Steve for a Sto EA and testing it. He may oblige if he is in good mood!

Kind Regards
Actually the higher the TF the better a Sto probably would work. Good luck.
  • #4,102
  • Jun 6, 2011 1:45am Jun 6, 2011 1:45am
Quoting ymo613
Hi Bob,
Thanks for all the free education, I've paid a lot more for less. I'm trying to digest it all and its a lot! I read all of the docs from the first post and I've read a few hundred posts starting from the beginning and I also read your docs from the trend trading system. I guess my question is, is the system from post one still valid or the version 6 that I saw talked about in some of the posts, or is better to just stick with your the trend system being that the market is so volatile? Basically I'm not sure where to place my focus to get...
Thanks for all the compliments and well wishes. Appreciate them very much.

Bob

To answer your question is I have been searching for a better way to handle this volatility also. Just to let you know where I am leaning is the 1D charts. What I learned from the 8 x 60 on the 4H chart works even better on the 1D but using different numbers. I hope to post by the end of this week my new found findings on using the 1D for recovery and hedging instead of the 4H chart. Very clean, simple and easy to understand. I have let some of my trades go 7-800 pips in the hole to test my theories. If they work, and I believe they will, I will post them for you guys to comment and make suggestions. I have been hinting on one complete system where you counter trade, trend trade, hedge trade, and range trade all in one complete system. The results of the different parts so far is very promising but I have yet to test the whole thing at one time. That is next but the recovery part of the system could be ready before I go to my son's wedding, if not, the middle of next week for sure. I want to publish parts of it and get a reaction then work on the rest. Just to give you an example I let a nzd/chf go over -700 pips in the hole, after battling it for 3 weeks, I only have 170 pips left to break even. So the system is workable and can be taught. I have had 3 trades now go over -700 and so far I have had the following success. AUD/JPY less than 50 pips to break even. NZD/CHF 170 pips left to BE. GBP/CHF just went over 600 pips in the hole, chf/jpy almost 800 down but have recovered 15%, Eur/Cad at -550. If I can successfully finish these off back to BE then I know I can teach you all how to do it.
  • #4,103
  • Jun 7, 2011 12:41am Jun 7, 2011 12:41am
Those are some amazing results Bob, I am looking forward to learn more.

I just got back from my trip to the US. It was very pleasing to see the EURUSD go up during my trip to make my holiday a lot cheaper. I did continue to trade but I was very conservative since I only checked my trades once a day max. I made a few pips here and there but the main thing was that it kept me in the trading mindset.
  • #4,104
  • Jun 7, 2011 1:06am Jun 7, 2011 1:06am
Quoting nanningbob
Thanks for all the compliments and well wishes. Appreciate them very much.

Bob

To answer your question is I have been searching for a better way to handle this volatility also. Just to let you know where I am leaning is the 1D charts. What I learned from the 8 x 60 on the 4H chart works even better on the 1D but using different numbers. I hope to post by the end of this week my new found findings on using the 1D for recovery and hedging instead of the 4H chart. Very clean, simple and easy to understand. I have let some of my trades go 7-800...
Thank you very much for this discussion. I was asking myself the same question as ymo613: trend/counter-trend? Now the whole picture is clearer.

Looking forward with a lot of interest for this "system of systems".

Bye

BL
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  • #4,105
  • Jun 7, 2011 1:39am Jun 7, 2011 1:39am
Hi Bob. I was thinking about trading this strategy using only EA#7. I would hedge the losing trade instead of using recovery. Hedge would take place at previous swing Hi/Low trying for breakeven. If the hedge turns against me, I would close all at the original trade entry. I think this might be profitable, especially using the #7 template. What are your thoughts? Is there a way I could do this better?
  • #4,106
  • Jun 7, 2011 3:27am Jun 7, 2011 3:27am
Thanks for the reply, looking forward to the complete package! In the meanwhile I've been demoing 5.3 for the past 2 1/2 weeks and I've had pretty great results (see attachment). Now I just have some dd to work out of, do to some mistakes on my part Either way, its a great feeling to be down 200-300 pips and come out of the trade with a profit. BIG THANKS to SteveHopwood (if your still hanging out on this thread) for putting the link to this thread in your trade manager pdf.
Attached Image
  • #4,107
  • Jun 9, 2011 8:20am Jun 9, 2011 8:20am
Here is the first peak at version 10.0 It will be my first complete system and when it is done it will define a trend, a range, and countertrend areas. It will also include rules on unhedging trades and a hedge trading system. This part is the simplest and will be the easiest to implement. This is my new counter trend system recovery. You will reenter most of the time once and occasionally twice to recover. Right now this version is for the slower and medium volatility currency pairs. I am working on numbers for the more volatile pairs but wont finish that until next week. Anyway if you have to reenter and want to avoid the peaker trades we encounter on a 4 Hour chart. I moved up to a Daily chart to plan my reentries. It is actually simple but effective in testing so far. It is the 2 MA High and 2 MA Low. If a trade has gone against you, you reenter when price action comes back in side the MA line. Here is the attachment and then I will post some pics for a short explanation. Inside are two EAs that enter when price hits the 2MA line, a template, 3.5 sixths lines, and picture. The 2MA is LWMA, Shift 3, Median.
Attached Image (click to enlarge)
Click to Enlarge Name: 10.0 recovery blank screen.gif Size: 20 KB
Attached File(s)
File Type: zip NB 10.0 RECOVERY SCREEN.zip   25 KB | 776 downloads
  • #4,108
  • Jun 9, 2011 8:30am Jun 9, 2011 8:30am
Here is a pic of when to use the trade recovery. In this pic there is a pink area where you were happily range trading or counter trading. Then boom price goes on an 800 pip run. In the old system I would have tried 3 levels and then closed out in the 4-500 pip area and taken a loss. In this system I would have waited and reentered when the run finally died out. Being a 800 pip run I would have multiplied my lot size by 4 and then look for my best exit with a small loss. It did a 150 pip return that first day x 4 is 600 pips and 800-150 is 650. I probably would have been happy to get out with a -50 to -100 pip exit on a 800 pip negative trade. OR taken that original profit and then rode out to a new reentry point or recovery or a new exit point on the negative trade. Anyway what I do is plan a recovery of about 1/4 of the original run. 800 pips x 1/4 equals 200. What is my lot size to Break Even that would be 4 if I was trading 1. 8 if I was trading 2 and so on. So as long as price stayed inside the 2MA I can run with the recovery.
Attached Image (click to enlarge)
Click to Enlarge Name: 10.0 recovery example 1.gif Size: 34 KB
  • #4,109
  • Jun 9, 2011 8:42am Jun 9, 2011 8:42am
I will develop this idea later this summer but here is a way to trade using hedges or undoing a hedge that you have placed.
Attached Image (click to enlarge)
Click to Enlarge Name: 10.0 recovery example 1 hedging.gif Size: 46 KB
  • #4,110
  • Jun 9, 2011 8:57am Jun 9, 2011 8:57am
I have finally given up trying to find a way to avoid peaker trades on the 4H in my recovery trades. I go to a higher time frame to eliminate them. Here is a CHF/JPY run that frustrated completely on the 4H chart but was handled much easier with less stress and less DD on a 1 Day chart. Here are the many peaker trades on the 4H chart.
Attached Image (click to enlarge)
Click to Enlarge Name: 10.0 recovery example example 4.gif Size: 39 KB
  • #4,111
  • Edited 9:19am Jun 9, 2011 9:04am | Edited 9:19am
Here is the same time period but on a 1D chart. Notice how the chart forces you to be patient and wait for the better reentry point. Let the EA do the waiting because I cant. LOL If there is a peaker trade it happens once not over and over again. Where I wrote #2 on the Chart there should be a #3. Sorry.
Attached Image (click to enlarge)
Click to Enlarge Name: 10.0 recovery example example 3 1D.gif Size: 46 KB
  • #4,112
  • Jun 9, 2011 9:17am Jun 9, 2011 9:17am
Quoting Frodog
Hi Bob. I was thinking about trading this strategy using only EA#7. I would hedge the losing trade instead of using recovery. Hedge would take place at previous swing Hi/Low trying for breakeven. If the hedge turns against me, I would close all at the original trade entry. I think this might be profitable, especially using the #7 template. What are your thoughts? Is there a way I could do this better?
Look at my hedging strategy above using 10.0. I think you will like it better than the #7 for hedging.
  • #4,113
  • Jun 9, 2011 11:25am Jun 9, 2011 11:25am
So, for your new system, you're planing to trade exclusively the D1 charts or those are only for recovery?

Looks interesting
  • #4,114
  • Jun 9, 2011 3:31pm Jun 9, 2011 3:31pm
I like the new recovery method, I was wondering about your hedging idea, have you moved to an offshore broker? Or are you just putting that out there for all the international thread readers? Looking forward to the rest of the system.
Thanks!
ymo
  • #4,115
  • Edited 8:20pm Jun 9, 2011 8:01pm | Edited 8:20pm
Quoting Trucomallica
So, for your new system, you're planing to trade exclusively the D1 charts or those are only for recovery?

Looks interesting
No just the recovery will be 1 Day chart. There will be some reads from it but then you go to a lower chart. It will make more sense when I get the range trading system up and running. That is what I am testing now and it uses a 1H chart. Basically my new system you can trade one currency pair, a couple, or a lot depending on what kind of trader you wish to be. You read the Daily/weekly ? chart for direction and then go trade the direction on a lower chart. Again what I will be trying to do is what I did with the 1.0 system. Define what a trend is, range is, counter trend is and then go trade it. Literally I try to trade most of the time on a currency. If you make a mistake then go to recovery or hedge and try again. So lets say you want to just trade the EUR/USD. You go to the 1D chart, get your read of what is happening and then trade it that way on the lower charts. The idea is in my head and I am testing each type of trade out now. The first was the recovery because that is the most important piece. Now that idea is set, (except for the more volatile pairs), I am testing the range trading system and it is knocking out trades every single day. The counter trend system will be the easiest for me to do because I have counter traded for years. Then back to the trend trading upgrade. When it is done those of you that have followed my threads will see the 60x90 system, countertrade/recovery system, trend trade system, sixths, 8x60, and some of my other stuff all melded together into one system. You will see parts of each one in one complete package but adjusted to fit. The goal is to have it all done before I start teaching in the fall. That is where I am going. Even though my 2 jobs took me out of trading for a while my mind has still been functioning as I tried to figure certain problems out. Even though this may sound very complex, (it is), the rules will be simple enough to follow and get good at. (I hope)
  • #4,116
  • Jun 9, 2011 8:03pm Jun 9, 2011 8:03pm
Quoting ymo613
I like the new recovery method, I was wondering about your hedging idea, have you moved to an offshore broker? Or are you just putting that out there for all the international thread readers? Looking forward to the rest of the system.
Thanks!
ymo
I want to trade the Hedging system live but still have not decided on a foreign broker yet. Trading Point has my attention right now though. I am following their thread here at FF. I have been playing with Hedging systems for over 2 years now but this is the first formula that looks like it will make good sense to use as a trading model. If a period of volatility comes up you start hedges or hedge your current trades and then follow the day chart. I look at it as a way to get through earthquakes, soveign defaults, double dip recessions, QE3???, big news stories and all the other stuff that could come down in the future.
  • #4,117
  • Jun 9, 2011 10:13pm Jun 9, 2011 10:13pm
Quoting nanningbob
No just the recovery will be 1 Day chart. There will be some reads from it but then you go to a lower chart. It will make more sense when I get the range trading system up and running. That is what I am testing now and it uses a 1H chart. Basically my new system you can trade one currency pair, a couple, or a lot depending on what kind of trader you wish to be. You read the Daily/weekly ? chart for direction and then go trade the direction on a lower chart. Again what I will be trying to do is what I did with the 1.0 system. Define what a trend...
Looks like you're going for the NB Ultimate System!! hahaha. But your main chart will be the 4H for normal trades? I guess that if you have to go back to work everyday you'll not be able to trade the 1H charts.

Thanks for the long reply
  • #4,118
  • Jun 10, 2011 7:41am Jun 10, 2011 7:41am
Hi Bob

Sorry did not get a chance to post my results during the last 2 weeks (been very busy). Please find attached results for the last 3 weeks. As you can see the profit has been just under $150, but the floating DD is still high at around $600 mark (trading 10 cents per pip). I have been trading with STO entries using a separate account and the results look promising especially with regard to floating DD. Early days yet and would be premature to post results yet.

Kind Regards
Attached File(s)
File Type: xls NB VER 5.3 21st May to 10th June 2011 (1).xls   246 KB | 364 downloads
  • #4,119
  • Jun 10, 2011 9:11am Jun 10, 2011 9:11am
Quoting Trucomallica
Looks like you're going for the NB Ultimate System!! hahaha. But your main chart will be the 4H for normal trades? I guess that if you have to go back to work everyday you'll not be able to trade the 1H charts.

Thanks for the long reply
The counter trend system will see some of our favorites and maybe some new ones. What I want to do is make is simpler with fewer EAs. Since you will read the 1D chart and when it tells you counter trade time you will be working a lot off of the Highs Or BB highs depending on how it exits its run. The counter trend will be later.

I love how the range EA is testing out. I am working on a 300 pip range EA with 2 levels and then when it goes outside that range you convert to the 1D reentry or hedge if the fundamentals are very strong. For example if Greece leaves the EURO or they cant get loans anymore. You will want to hedge the trades that are going against you and wait out the storm. If you just got caught in a run then you use the 10.0 recovery. Other wise the EA just keeps knocking down trades every day as long as price stays within the 300 pip range. I really like it. So 2 levels and the third is a recovery if it runs outside the range.
  • #4,120
  • Jun 10, 2011 9:14am Jun 10, 2011 9:14am
Earlier some guy posted he was doing well on the 15M chart using the 6ths indicator. You will do very well in ranging markets doing that. When price runs on you and you get caught in a bad trade then switch to the 10.0 recovery. We will talk about hedge trading later this summer and how and when to do it. Sorry but I couldnt find your post this evening and I leave for my sons wedding soon. I just wanted to give you some short advice on that post.
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