Nb 10.0 range trading system

Please go to this thread to download the 10.0 system.
http://www.forexfactory.com/showthread.php?t=308304
In this thread we will talk about range trading with the 1H CTR BOTH EA. We will use the 4H CTR and Daily recovery EA for 2nd and 3rd level trades. I traded this system through the first week of August and the results were stunning. These are live trades using .03 and .05 cents lots. Here are my results:

Gross Profit: 106.58 Gross Loss: 15.64 Total Net Profit: 90.94The 90.94 was an incredible 8.8% increase in my account of 1035 dollars. That was trading .03 and .05 pennies lots. I cant really expect to do that every week but it sure was a nice start.

Total for the month of August 2011= 22% of the account post 147 pg. 10

You can use the CTR EAs whenever range conditions are met or you can constantly range trade 24/7 while using just the low volatility currency pairs. See my excel sheet and use only the following pairs listed as volatility of 1-3. From two months experience I dropped a couple of pairs but these will be the ones I will use:


aud/jpy, aud/nzd, aud/usd,
cad/jpy, chf/jpy, eur/gbp,
gbp/cad, gbp/usd, nzd,chf,
nzd/jpy, usd/cad, usd/jpy

That gives me a mix of aud-3 cad-3 chf-2 jpy-5 eur-1 gbp-3 nzd-3 usd-4

I did not use nzd/usd to give me better balance, I chose all the #3 volatile pairs except aud/chf. Don’t trust the chf right now, it is not ranging very well. I chose two gbp because the gbp has been ranging very well the last two years. So until they stop ranging I am going to trade it. This list of pairs traded can be changed from time to time based on market volatility. For example if the GBP starts making headlines I will drop the gbp/cad and possibly the gbp/usd.

So for Monday morning after the JPY session I will start the EAs on the 12 pairs and see what happens. I will post my results and help you with my recovery methods needed to do range trading.

Hi nanningbob!
Will you run this EA via VPS?
Forexcube

Send me some info to [email protected] and I will look into it in the morning. This system is hard to report range trading. I usually just post the increases rather than the individual trades.

Fantastic!!! subscribed
Kind Regards

Hi Bob, How do you plan on using the 4h CTR as a recovery ea? What's your entry criteria?

What a wonderful work man!
Thank you

I will stay tuned.

This is just theory and I am studying this now. Remember CTR is a concept less than a month old so my mind is developing it. But there is a run on the daily but the highs are going back up close to previous highs. Probably the new Resistance is formed. Look at daily chart.

The 4H chart looks like this the highs are hitting the black and red lines of the 2MA and 8 MA (you can use the 10.0 blank to see this. NO trades here because the eur/gbp is a low volatile currency. but seeing the highs hit these lines may signal an end to the run early.

So seeing price forming a Resistance point leads to good trades on the 1H chart. So the 1H CTR makes the trades here. With 4 trades you probably easily wiped out any DD on this pair.

That is a theory I will be working on. With my AUD/CHF trade now 800 some pips in the hole I will need several trades to clean this one out. So I will try this theory on it. Dont worry about the netative pips It is several .03 trades but will make good practice for counter trading. I will counter trade with .05 and .06 lots to try to clean it out. May take me all month but sooner or later the AUD should rebound. I hope. Either way I am not in serious account trouble but it will be a challenge. If I do it, it will be the biggest DD I have ever brought back to 0. I love a good challenge.

oooops I forgot to post the 4H CTR chart here it is. 4H CTR may not work well with low volatile currencies. You get only one good 4H trade here but 4 solid ones with the 1H. That is the kind of thing I need to study before making decisions but that is something I am looking at and trying to trade live now.

I upgraded the 4H EAs. Go to the 10.0 trend page to get the upgrade and why I did it.

This is kind of funny. I posted 3 systems and this is the one I am trading live and it has the least amount of attention. Ok my two week results:

Aug. 1-6 = 8.8% of my account
Aug. 7-14 = 2.3 % of my account

Normally I show pictures but because I added and subtract funds this week you really cant see the rise. I had some DD this week which I will talk about when I get home tonight. Some really unexpected moves for Aug. Some currencies moved more than Aug. 2008 and this time I survived and made a small profit. Will get into why.

time for questions...

- mainly 4hr or 1hr BB entries?
- leaving the EA trading all the time (apart from news stories)?
- using re-entries?
- set tp and sl amounts?

Page 1 Post 1 very first sentence:

"In this thread we will talk about range trading with the 1H CTR BOTH EA. We will use the 4H CTR and Daily recovery EA for 2nd and 3rd level trades. I traded this system through the first week of August and the results were stunning. These are live trades using .03 and .05 cents lots. Here are my results:"

The aud/chf is my nightmare trade of the week. From the entrance at a support on the buy 1H to it finally reversed was -1400 pips. I have never tried to recover such a big number before. What saved me a lot of headaches was 10.0 kept me from having too many levels to recover from sooooooooooo ............. I have gotten back most of my deficit. My only losses in trading for the week is I closed 2 levels that I had entered violating my 10.0 recovery. If I had stuck with the basic 10.0 my 2nd level would have entered and I would be close to BE now. Instead I took a couple of losses covered by my profits and my recovery has brought me back 2/3 of BE. So instead of dealing with 4 or 5 trades and being patient I have done 10 trades of which 7 are winners 2 were losers and 1 loser trade left. Anyways I have almost finished recovery of a -1400 deficit (something I have never done before). I dont know if that is good news or bad news but one thing is certain. I wont be range trading aud/chf since with this latest move it has now become a category 4 currency pair.

I dont know if telling you this is good news or bad. But even the most dramatic moves can be recovered if you have a way of knowing when to get in and when to reenter and when to get out. Dang what a beast. The bottom line is this I had enough profit last week on all my other trades to cover this entire negative trade. I could close out the rest of this trade now and still make a teeny profit for the week. Now that is strong for this range system.

Studying a currency's tendencies is also helpful in recovery but I knew the aud/chf has a V-turn tendency when it moves big. This is also helpful to know. Most trading gurus tell you about their successful trades. I think I learn more about trading to sometimes talk about the ugly ones. None have been more ugly than this. With the right lot size to account size you can survive these things.

One last thing about recovery trades. Recovery trades and negative DD are simple interest trades. In other words they happen once and they are done, no compounding. Winning trades are compound interest. In other words profits continue to increase the account and each winning trade is like banking compound interest over a long period of time. Losing trades and DD are simple interest in that once they are done they no long continue to add to the loses. So as my DD grew and diminished in size, my winners kept increasing my account like compound interest does. My losing aud/chf trade did not keep growing but eventually lessened in size until it was closed with profits. In any case my account got bigger and my loser trade is gone and cant take away my profits anymore. My winning trades however, will keep being added to my account. I dont know if this makes sense to you but that is how I am beginning to look at it. My account keeps growing from my winners and my DD is like breathing in and out. It gets bigger, then smaller, then bigger then smaller but the bottom line keeps growing. I like that, but very complicated logic.