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Nanningbob 4h trading system ver. 5.0

  • #4,321
  • Jul 31, 2011 6:50pm Jul 31, 2011 6:50pm
Quoting Edd Ganuelas
Bob,

If only we can simplify MPTM to get rid with those not needed - a trailing SL, Recovery and TP. Tha't all I think what we need.

Thanks for a great System.

Edd
You can set the MPTM for just that however, we are working on one that is more simplified.
  • #4,322
  • Jul 31, 2011 8:13pm Jul 31, 2011 8:13pm
Quoting Frodog
... I am now out of the market (just waiting ) with about 5% increase for July.
Hi

Fantastic my friend, keep up the good work. 5% in one month is very good in such an uncertain market. June was a fantastic month for me but I just managed to break even for July due to some bad foolish trades (now I realize what Bob says regarding the benefits of publishing ones trades and I may resume doing so soon). Taking Bob`s advice I have avoided taking risky trades and just like you I am waiting for some degree of normalcy to return to the markets before resuming full speed trading.

I have been studying the 10.0 trend prediction and IMHO it will help us in keeping the DD down in the long run. I have checked 10.0 against ADX and also against STEVE`s RSI trend indicators and thus far 10.0 has come out with flying colours so I am very excited regarding the future.

Kind regards
  • #4,323
  • Jul 31, 2011 11:24pm Jul 31, 2011 11:24pm
Quoting nanningbob
The MPTM has several functions in it. It can be set to:

1. cover all trades
2. cover trades by magic number
3. cover trades of just one pair
4. cover trades of several pairs.
5. manage trade by ticket number.

You just have to go into the tab section when you put the MPTM on your screen or you can set the EA by changing the code. It also does a bunch of other stuff I never use it for but it is there. Adding TP and moving the SL to profit are the two I use the most.
Thank you.
Can i do this, I set 1 MPTM ea to manage all trade, and then i have another order, but i want to have another MPTM to just manage that order, So i have 2 MPTMs manage 1 trade?
IT's not logic.
  • #4,324
  • Jul 31, 2011 11:46pm Jul 31, 2011 11:46pm
Quoting leo1in88
Thank you.
Can i do this, I set 1 MPTM ea to manage all trade, and then i have another order, but i want to have another MPTM to just manage that order, So i have 2 MPTMs manage 1 trade?
IT's not logic.
Using 2 MPTM can get tricky. If you have one that does all trades it will conflict with the one that is only doing a certain few. If I want to use more than one MPTM then I set the magic number and have each MPTM manage the certain EAs by magic number. So you can have one MPTM manage #10 magic number and another manage #12 magic number. This especially becomes helpful with you have multiple levels and want to manage the levels differently.
  • #4,325
  • Aug 1, 2011 2:51am Aug 1, 2011 2:51am
Quoting nanningbob
Using 2 MPTM can get tricky. If you have one that does all trades it will conflict with the one that is only doing a certain few. If I want to use more than one MPTM then I set the magic number and have each MPTM manage the certain EAs by magic number. So you can have one MPTM manage #10 magic number and another manage #12 magic number. This especially becomes helpful with you have multiple levels and want to manage the levels differently.
Thank you.
But can one MPTM can manage 2,3.. trades(more than one trade but not all trade) by set more than one magic number in setting MPTM? and then that MPTM will manage which trade has the magic number, i have set in MPTM.
  • #4,326
  • Aug 1, 2011 3:45am Aug 1, 2011 3:45am
Hi naningbob,

I am very impressed by your system`s performance.

Given your experience with this system I suggest you to join zulutrade so that others can follow your trades while you make extra income. This would benefit both you and others who might find your system a bit difficult to manage by themselves. It will not cost any extra work from your end, just link your demo account and all trades you place will be available for others to follow.

Check www.zulutrade.com?ref=358335

Regards,
Sandro
  • #4,327
  • Aug 1, 2011 5:08am Aug 1, 2011 5:08am
yes.. well done sandropace. You're obviously an affiliate. Well done(!)
  • #4,328
  • Aug 2, 2011 3:35am Aug 2, 2011 3:35am
I have a trade made by #4 EA, then i set a MPTM v5.2 #4 25+10 to manage that trade, i set it BE to 30 pips, BE profit to 10pips (not use default 25/10), but in the left corner IT 's display "Breakeven set to 300. Breakeven profit set to 100pips", After 40pips profit price down again, And i don't have stoploss in 10pips. What's it wrong? My broker is Forex.com with 4 digit.
Please help me. thank you.
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  • #4,329
  • Aug 2, 2011 4:00am Aug 2, 2011 4:00am
Quoting leo1in88
Breakeven profit set to 100pips", After 40pips profit price down again, And i don't have stoploss in 10pips. What's it wrong? My broker is Forex.com with 4 digit.
Please help me.
Nothing wrong, MPTM automatically adjusts for four or five digit platforms. I have an account with forex.com as well and it is FOUR digits, however, your platform is FIVE DIGITS, for instance the current price on your chart is 0.87325 which makes it FIVE digits.
Kind Regards
  • #4,330
  • Aug 2, 2011 4:04am Aug 2, 2011 4:04am
Quoting leo1in88
I have a trade made by #4 EA, then i set a MPTM v5.2 #4 25+10 to manage that trade, i set it BE to 30 pips, BE profit to 10pips (not use default 25/10), but in the left corner IT 's display "Breakeven set to 300. Breakeven profit set to 100pips", After 40pips profit price down again, And i don't have stoploss in 10pips. What's it wrong? My broker is Forex.com with 4 digit.
Please help me. thank you.
Attachment
1. You may have an older version of Steve's that didnt automatically adjust to 4 or 5 digit brokers. Go to his website and download the newest version. 2. If that doesnt work go into the program and set the TP and SL to the correct settings.
3. You can also try setting the Do not overload 5 digit to false and see if that helps.

extern string slf="----Stop Loss & Take Profit Manipulation----";
extern bool DoNotOverload5DigitCriminals=true;
extern string BE="Break even settings";
extern bool BreakEven=true;
extern int BreakEvenPips=40;
extern int BreakEvenProfit=30;
extern bool HideBreakEvenStop=false;

If that doesnt help hmmmmmm someone else can try to give you advice.
  • #4,331
  • Aug 2, 2011 4:50am Aug 2, 2011 4:50am
I download it from your post 1, in 5.2 folder, yes i have try setting the do not overload 5 digit to false. but it still not work(i have reset MT4)
Quoting nanningbob
1. You may have an older version of Steve's that didnt automatically adjust to 4 or 5 digit brokers. Go to his website and download the newest version. 2. If that doesnt work go into the program and set the TP and SL to the correct settings.
3. You can also try setting the Do not overload 5 digit to false and see if that helps.

extern string slf="----Stop Loss & Take Profit Manipulation----";
extern bool DoNotOverload5DigitCriminals=true;
extern string BE="Break even settings";
extern bool BreakEven=true;
[color=Red]extern...
  • #4,332
  • Aug 2, 2011 4:53am Aug 2, 2011 4:53am
Astral, it may an error, As you known, MT4 of forex.com is always 4 digits, but when i use MPTM blank in any screen tab of MT4, current price of that chart become a 5 digits, what's wrong?

Quoting astral77
Nothing wrong, MPTM automatically adjusts for four or five digit platforms. I have an account with forex.com as well and it is FOUR digits, however, your platform is FIVE DIGITS, for instance the current price on your chart is 0.87325 which makes it FIVE digits.
Kind Regards
  • #4,333
  • Edited 5:18am Aug 2, 2011 5:01am | Edited 5:18am
Hi Bob,

First I want to thank you and everyone who contributed to this great thread. So I am trading with 10.0 BOTH but at the moment I am confused because of EUR/CHF.
I need advise
Should I use recovery or I have to close this position?


My english is no so good and i am apologise.


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  • #4,334
  • Aug 2, 2011 5:02am Aug 2, 2011 5:02am
what a supprise, i known the problem, haha, in MT4 of Forex.com only NZD/USD pair has 5 digits, and suddenly i use it for MPTMblank.
Astral, you must check it. forex.com is actually a crazy broker.
  • #4,335
  • Aug 2, 2011 5:43am Aug 2, 2011 5:43am
Quoting leo1in88
what a supprise, i known the problem, haha, in MT4 of Forex.com only NZD/USD pair has 5 digits, and suddenly i use it for MPTMblank.
Astral, you must check it. forex.com is actually a crazy broker.
By the way we refer to them as CRIMINALS and not brokers! Also Steve keeps reminding us that MT4 is a crap platform and that is why it is free to use. I have no idea what is going on here since I just checked NZDUSD on my platform and it is definately 4 digits!!!!! I have run out of ideas.

Kind Regards
  • #4,336
  • Aug 2, 2011 6:43am Aug 2, 2011 6:43am
Quoting veslup
Hi Bob,

First I want to thank you and everyone who contributed to this great thread. So I am trading with 10.0 BOTH but at the moment I am confused because of EUR/CHF.
I need advise
Should I use recovery or I have to close this position?


My english is no so good and i am apologise.


Attachment
OK let me use this trade as a teaching tool. Hope you dont mind. First if we look at the daily chart of the EUR/CHF. The Candles on that day you traded and the day before both the high and low are below both lines so we dont range trade there. If anything you are looking for a continuation of the DT or a spike back above both lines. So CTR was the wrong EA for that moment. We all make mistakes, I do too and have that on my demo as a buy also. See pic below. So remember our rule dont CTR trade unless a high or low are above/below the lines.
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  • #4,337
  • Aug 2, 2011 7:06am Aug 2, 2011 7:06am
So what do you do now. I see you are trading dimes which is OK if you have enough funds in your account. Lets pretend you do, (at least 2000 I hope, maybe 1000 if you are a really good trader).

1. If you have already made profits to cover the loss that is the easiest decision. Just take the loss and move on.
2. However, if you wish to counter-trade, like I do then I will walk you through it. The problem though is the EURO is fundamentally in trouble so I have been shying away from trading it. The only pair I am trading is the EUR/GBP.
3. But we are in the trade. Next staying on the Daily chart I would put on the 10.0 recovery which means it will enter a second buy when price crosses back over the blue line up. Now you have to understand that you may not get the whole thing at one time but you will try.
4. When price crosses the line it will enter but you have a large DD here. At .02 you will need a 250 retracement to BE. .03 you will need 180 pip retracemenet. At .05 about a 100 pip. If you use the higher lot size you may want to be ready to bail out if it goes below the previous swing low.
5. So what you are looking for is a retracement to reenter which may happen in 2-4 days.
6. In my booklet my observation is this. When price goes in a direction for the week it tends to stay in that direction for the whole week. So with Monday and Tuesday going down your prospects are not good for a solid retrace this week. Which means next week is probably when you will get it.
7. So it comes down to how confident you are in your trading and experience in counter trading. I have been sitting on a NZD/USD trade for 18 days patiently waiting for a retracement. I have the margin and skill to wait it out. I also know that the NZD was used to run to while the USA was debating the debt thing. If they didnt pass the bill NZD would continue to go up. If it does pass it will come back down some. Now that is has passed I expect the NZD to drop handsomely over the next couple of days and clearing out all the DD. If they didnt pass the bill I would have eaten the loss.
8. I dont know what fundamental will reverse the Eur/Chf but I do know the EURO is in long term trouble.
9. So if you want to take the retracement this is your spot to turn it on.
  • #4,338
  • Aug 2, 2011 8:35am Aug 2, 2011 8:35am
Thank you for you quick replay and good explanations I will tray to recover with 10.0 daily.
  • #4,339
  • Aug 4, 2011 12:02am Aug 4, 2011 12:02am
A couple comments I can share from my experience which might help you with recovery. First, I always make sure the first recovery trade is down at least in the 200 Pip range. I have made a couple mistakes where a trade goes against you and you think this is a recovery, so you move to the daily chart load the EA and wait. However, sometimes by the time it works it's way back up and touches the blue line, you might only be 60 Pips down. If it bounces and heads back into the trend you have just increased your position size, it is heading the other way and your BE point did not change that much. So, I always try to make sure my projected entry is worth the L2 trade and will signficantly impact my BE point. Second, Bob mentioned this earlier in this thread and it has been very helpful for me and that is taking recovery in pieces or blocks. For example, if I have a .01, .02, and .04 lots in trade and the .04 trade finally starts to go my way. If the market stalls or major support/resistances gets in the way, sometime I will take the profits of the .04 trade and take out the .02 trade, then wait for another opportunity to retrace and remove the .01 trade at a later time. Or if not enough profit is there, I will take out the .01 lot trade and work on the .02 trade later. It helps visually if your broker considers your trades "position based" vs. cost averaging them, so you can see the pieces of the recovery. If not, alot more math to keep track of on the spreadsheet. Anyway, I hope those two experiences will be helpful to you.

George
  • #4,340
  • Aug 5, 2011 5:27am Aug 5, 2011 5:27am
Quoting George Adams
A couple comments I can share from my experience which might help you with recovery. First, I always make sure the first recovery trade is down at least in the 200 Pip range. I have made a couple mistakes where a trade goes against you and you think this is a recovery, so you move to the daily chart load the EA and wait. However, sometimes by the time it works it's way back up and touches the blue line, you might only be 60 Pips down. If it bounces and heads back into the trend you have just increased your position size, it is heading the other...
Tanks for good explanation. Yes I think that this should be very helpful for me.
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