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Nanningbob 4h trading system ver. 5.0

  • #4,241
  • Edited 7:38am Jul 18, 2011 7:23am | Edited 7:38am
Quoting Saintsurfer
Thanks for your hard work. Very universal aproach to trading.
BTW could you show an example of a CTR entry with BB on 4H TF which was more zoomed in just for clarity. Thanks a lot.
FIRST your daily is showing a ranging market by the high on one side and low on the other side of the 2 or 8 MA on the daily. I put black lines to show this period of time. In 12 days GBP CAD ranged 11 of them. You really cant count the Sunday candle so 10 of 10 days it was ranging. See pic below.
Attached Image (click to enlarge)
Click to Enlarge Name: gbp cad 1d.gif Size: 25 KB
  • #4,242
  • Jul 18, 2011 7:35am Jul 18, 2011 7:35am
Here is the same period of time on the 4H chart 10 days x 6 (4H periods) or 60 candles, actually 58, the Sunday ones dont give you 6 4H periods. There are 4 clear cut buys with the #2 buy trade taking a while to come to fruit. When the low MA goes below the BB then price enters. In other words price will not enter when it hits the BB line but after it passes the BB and causes the 3MA low to cross the BB line. Even though price has crossed the BB line it must go well below the line to get the 3MA LOW to cross it. Giving you a deeper entrance than just crossing the line. That is the theory behind it anyway. I show 3 clear cut trades and presently in the 4th. The actual entrance point then is below the BB but I do not know exactly where price is when the 3MA finally crosses the BB line, I just know price is much farther below the line when it enters. For example it may really take the open of the 2nd candle to get the 3MA to cross which I hope brings you a much better entrance. I thought this was a really neat idea.
Attached Image (click to enlarge)
Click to Enlarge Name: gbp cad 4h.gif Size: 24 KB
  • #4,243
  • Jul 18, 2011 7:42am Jul 18, 2011 7:42am
Quoting nanningbob
FIRST your daily is showing a ranging market by the high on one side and low on the other side of the...
Excellent , Thank you very much.

The trend detection is working perfectly. This is a huge boost to people like us who have full time jobs and trade part time. I check the daily Trends around midnight GMT and enter readings for each pair (UT, DT and Range) on a spread sheet. This information is used for deciding on which trades to take for the day and manage the existing trades.

For instance I had three trades triggered today and at present I have locked in 45 pips profit (USDCHF Long) + 25 pips profit (CADJPY Short) + -1 pip (NZDJPY Short). I do not use hard TP/SL, however, I have mptm set on BE of 40/50 plus BE profit of 25/35 and jumping SL of 35 after BE. This way I can lock in some profit once the trade is in profit and have the chance of catching long runs as well. I would be interest to know if anyone is using something similar and what settings they are using.

Kind Regards
  • #4,244
  • Jul 18, 2011 8:01am Jul 18, 2011 8:01am
Let me blow up the picture to show you what I mean. Look at #1 red. For that trade to enter you see the 3MA had just barely crossed the line on that candle. However, it may have been the very bottom tip of the candle, the green arrow, that caused the 3MA to cross. That would be a fantastic entrance. In trade 2 same thing but we get some DD for a while. Trade 3 looks good but trade #4 it looks like the very bottom tip of the candle cause that MA to cross and that is where your trade would enter. With close up you may see what I mean.
Attached Image (click to enlarge)
Click to Enlarge Name: gbp cad 4h ex.gif Size: 27 KB
  • #4,245
  • Jul 18, 2011 1:40pm Jul 18, 2011 1:40pm
OK thank you to Squalou for pointing out some discrepencies. I threw out the indicator and just used the bands from MT4. I also corrected some more inconsistancies from the EAs. I hope now the template and EAs match. Thank you for your patience. Just an old man trying to get it right. Anyway this is the most update version. Now you know why I am not starting the 10.0 thread yet. I need you guys to help me get it right. The booklets remain unchanged however. Please let me know if I got it right this time.
Attached File(s)
File Type: zip 10.0 NB CTR version 3.zip   617 KB | 1,024 downloads
  • #4,246
  • Jul 19, 2011 6:01am Jul 19, 2011 6:01am
I realy love this system, just a feeling, but when i follow this system for 1 week, reading reading reading, and now so confusing, what a complex system with many EA orders, templates.
Anyone can show me the post regarding stoploss guide?
I will try to own it. Thank bob and everyone develops this system.
  • #4,247
  • Jul 19, 2011 8:36am Jul 19, 2011 8:36am
Quoting nanningbob
Let me blow up the picture to show you what I mean. Look at #1 red. For that trade to enter you see the 3MA had just barely crossed the line on that candle. However, it may have been the very bottom tip of the candle, the green arrow, that caused the 3MA to cross. That would be a fantastic entrance. In trade 2 same thing but we get some DD for a while. Trade 3 looks good but trade #4 it looks like the very bottom tip of the candle cause that MA to cross and that is where your trade would enter. With close up you may see what I mean.
NanningBob,
Many thanks your new huge contribution for all of us. Still studying everything and nearly ready to begin testing, as soos as I have meaningful results I will feedback. Reading this post & chart and trying to understand the logic I am a little bit confuse, I see two excellent entries but the others two does not make sense to me, probably still I need to digest the system as a whole. Please look at this chart where I mark in yellow my two excellent entries:
Attached Image (click to enlarge)
Click to Enlarge Name: NB10.jpg Size: 125 KB
  • #4,248
  • Jul 19, 2011 9:02am Jul 19, 2011 9:02am
Quoting trustdom
NanningBob,
Many thanks your new huge contribution for all of us. Still studying everything and nearly ready to begin testing, as soos as I have meaningful results I will feedback. Reading this post & chart and trying to understand the logic I am a little bit confuse, I see two excellent entries but the others two does not make sense to me, probably still I need to digest the system as a whole. Please look at this chart where I mark in yellow my two excellent entries:
On your chart you show the yellow lines inside the BB LOW and entrance should be outside the BB low. That should produce a buy once price is outside the line. In other words price cannot enter the trade until price is below the BB LOW and is far enough below the BB line to pull the 3MA line below it. Ignore the test trade on the picture. That is from another EA.
  • #4,249
  • Jul 19, 2011 9:07am Jul 19, 2011 9:07am
Quoting leo1in88
I realy love this system, just a feeling, but when i follow this system for 1 week, reading reading reading, and now so confusing, what a complex system with many EA orders, templates.
Anyone can show me the post regarding stoploss guide?
I will try to own it. Thank bob and everyone develops this system.
First read the directions in Post 1 Page 1 and the manuals there. We use recovery here not SL and we recommend many, many times to start with primary trades only. 10.0 is in the testing stage because many people here know how to work the system and I need feed back.
  • #4,250
  • Jul 19, 2011 9:33pm Jul 19, 2011 9:33pm
Hey Bob,
Is there a list defining the reasons why the EA would uninitiate? Thanks I got reason 4.
  • #4,251
  • Jul 19, 2011 11:25pm Jul 19, 2011 11:25pm
Has the recovery system ea ever been build as a stand alone ea for manual traders?
If a person puts on a trade for their own rules but wants to use this ea idea to manage possible loss.... until market goes back into proper trend direction. Just wondering because it appears its only coded into other system form like The beast, unless I'm not searching correct.
  • #4,252
  • Jul 20, 2011 1:54am Jul 20, 2011 1:54am
Quoting yourchef51
Hey Bob,
Is there a list defining the reasons why the EA would uninitiate? Thanks I got reason 4.
YES, working on the solution. Having trouble getting it to enter trades. Because of the different kind of brokers the EAs now must have the TP, SL, etc sent at a different time than the order. So I hope the solution I received today will work.
  • #4,253
  • Jul 20, 2011 3:16am Jul 20, 2011 3:16am
Quoting tommbstone
Has the recovery system ea ever been build as a stand alone ea for manual traders?
If a person puts on a trade for their own rules but wants to use this ea idea to manage possible loss.... until market goes back into proper trend direction. Just wondering because it appears its only coded into other system form like The beast, unless I'm not searching correct.
Here is the stand alone. It only enters trades outside in. So if blue is greater than red and price is greater than both it will enter SELL when price comes back inside the blue line again. If blue is less than red and price is less than both then it will enter when price comes back inside the blue again on the DAILY chart. ON the pic are 4 examples of when it could be used
Attached Image (click to enlarge)
Click to Enlarge Name: gbp cad recovery.gif Size: 33 KB
Attached File(s)
File Type: mq4 10.0 DAILY RECOVERY.mq4   23 KB | 623 downloads
  • #4,254
  • Jul 20, 2011 5:45am Jul 20, 2011 5:45am
I wanted to show why the MT4 tester is very unreliable in giving results. Here is a sell trade on the tester that ended being a 700 pip loss in the tester but in real life it would have been 100+ pip profit. The tester showed it was 21 wins and 10 losses an almost 70% win ratio but the tester showed it to be a loser in money. However looking at two trades taken by the tester that it badly missed. One trade could have been an 800 pip winner and the big loser was a winner also. Those two trades make the EA highly profitable. Because the tester is so bad I cant rely on its results but you bet your booties I will live trade this one.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: tester.gif Size: 31 KB
Click to Enlarge Name: tester 2.gif Size: 29 KB
  • #4,255
  • Jul 20, 2011 7:02am Jul 20, 2011 7:02am
Quoting nanningbob
I wanted to show why the MT4 tester is very unreliable in giving results...but you bet your booties I will live trade this one.
Thanks very much BOB. AS Steve says MT4 is crap and we all know it. I personally prefer Ninjatrader, but Why do we use MT4?

The answer is simple enough. Automation and the abundance of EAs and Indicators plus it is free and easy to use, but crap all the same. For instance if you are unlucky enough to have a trade open/modify or close during a peak period you may get "Trade Context Busy" message. If this happens then mt4 is paralyzed till you close and restart.

Back to the main business. The CTR concept seems very clear cut and simple. If time permits I am planning to run version 10 CTR on a different account and compare the results with version 5 after few months before deciding in which version to use. We do miss Phover, it is a shame he is not around to modify his dashboard for version 10 because the dashboard does save a lot of time. Having said that I do not know if there are any programmers out there who fancy having a go at modifying Phover`s dashboard.

Kind Regards
  • #4,256
  • Jul 20, 2011 7:17am Jul 20, 2011 7:17am
Quoting astral77
Thanks very much BOB. AS Steve says MT4 is crap and we all know it. I personally prefer Ninjatrader, but Why do we use MT4?

The answer is simple enough. Automation and the abundance of EAs and Indicators plus it is free and easy to use, but crap all the same. For instance if you are unlucky enough to have a trade open/modify or close during a peak period you may get "Trade Context Busy" message. If this happens then mt4 is paralyzed till you close and restart.

Back to the main business. The CTR concept seems very clear cut and simple. If time...
it's actually quite easy to modify the ea connected to the dashboard...i did it to test the 1.0 trend system....or now to change some ea (like eas or ea5 that are now doing different things!)
  • #4,257
  • Jul 20, 2011 12:53pm Jul 20, 2011 12:53pm
Quoting astral77
Thanks very much BOB. AS Steve says MT4 is crap and we all know it. I personally prefer Ninjatrader, but Why do we use MT4?

The answer is simple enough. Automation and the abundance of EAs and Indicators plus it is free and easy to use, but crap all the same. For instance if you are unlucky enough to have a trade open/modify or close during a peak period you may get "Trade Context Busy" message. If this happens then mt4 is paralyzed till you close and restart.

Back to the main business. The CTR concept seems very clear cut and simple. If time...
The thing I am beginning to see with CTR is the reduction in the number of EAs needed to counter trade. If you use CTR for all your entrances and 10.0 recovery you are basically two levels with an occasional 3rd. That is what I have been striving for in this counter trend series. It handles all trades and you counter trade the runners on the Daily. Makes it simple. The one thing I need to test is whether it will work better on the 4H or 1H as a constantly running EA. I think I will need some filters for the 1H but the 4H looks golden to me. I will try to post some test EAs tomorrow. I like the way it goes into profit fairly quickly. I am having an MPTM designed just for 10.0. Just a basic raw one with only a couple of commands in it.
  • #4,258
  • Edited 3:53pm Jul 20, 2011 3:50pm | Edited 3:53pm
Quoting nanningbob
Here is the stand alone. It only enters trades outside in. So if blue is greater than red and price is greater than both it will enter SELL when price comes back inside the blue line again. If blue is less than red and price is less than both then it will enter when price comes back inside the blue again on the DAILY chart. ON the pic are 4 examples of when it could be used
So this is different than 10.0 open sell close buy and 10.0 open buy close sell?
This thread is confusing when your late to the party.

But I love this idea and i love daily TF so i'm gona give it a shot. thx
(anyone have a set file example)
  • #4,259
  • Jul 20, 2011 3:59pm Jul 20, 2011 3:59pm
Quoting nanningbob
The thing I am beginning to see with CTR is the reduction in the number of EAs needed to counter trade...
IMHO for people like us H4 is the best TF, unless you can check the traders on regular basis in particular during London / New York sessions. What I admire in your approach is the fact that you try to breakdown complicated problems in smaller simpler bites and arrive at a solution.

Finally, 10.0 relies more on price action than the previous systems resulting in development of our ability to better understand and interpret it with the passage of time. This would be beneficial for everyone regardless of what systems they use in the future.

Kind regards
  • #4,260
  • Jul 20, 2011 6:17pm Jul 20, 2011 6:17pm
Quoting tommbstone
So this is different than 10.0 open sell close buy and 10.0 open buy close sell?
This thread is confusing when your late to the party.

But I love this idea and i love daily TF so i'm gona give it a shot. thx
(anyone have a set file example)
It is the same thing just no open buys or sells. Recovery only. 10.0 is in the testing stage. There are plenty of people still using the system on page 1 post 1 in their daily trading/
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