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Nb 10.0 trend trading system

  • #161
  • Aug 20, 2011 10:27pm Aug 20, 2011 10:27pm
Hi nanningbob,

Have you considered to put your trades on: https://www.fxjunction.com/

I would certainly be one of your followers...Thank you for this amazing, yet simple, trading system.
  • #162
  • Aug 21, 2011 1:04am Aug 21, 2011 1:04am
I tried to follow the manual.
But under the expert advisor, I found 12 items.
Which one I should use....
  • #163
  • Aug 21, 2011 7:40am Aug 21, 2011 7:40am
Hi,

After reading this wonderful thread (wish I discovered nanningbob much earlier), ready to get my feet wet!

As bob recommended, start with daily EA on demo, so be it, I have two EA's ready to be fired:

10.0 DAILY BUY.mq4
10.0 DAILY SELL.mq4

Next step is to find the pairs in UT/DT...I will use the dashboard posted by osthafen (thread #63)...see attached.

The trading candidates for Sunday openning are:

DT trades: EURGBP, NZDUSD, NZDJPY
UT trades: GBPUSD, GBPCHF, GBPCAD

Note: GBPNZD, EURNZD has massive spread, so will be ignored.

So after the market opens tonight, I will attach the corresponding EA's to each chart.

Hope I am on the right track....

Cheers!
Attached Image (click to enlarge)
Click to Enlarge Name: NB1.JPG Size: 104 KB
  • #164
  • Aug 21, 2011 7:44am Aug 21, 2011 7:44am
Hello again.

As english is not my native language i have had some problems or confusion about the definitions in the manual. Where it says that when PA is above the red line and the high and low of BOTH candles is above both lines, we are in an UT. Is this a miss-spelling or do we take our reads from two candles to define the trend? Because as far as i have read it just seem to be one candle to define the direction to trade?

Regards
Doroteo
  • #165
  • Aug 21, 2011 8:30am Aug 21, 2011 8:30am
Quoting Doribj
Hello again.

As english is not my native language i have had some problems or confusion about the definitions in the manual. Where it says that when PA is above the red line and the high and low of BOTH candles is above both lines, we are in an UT. Is this a miss-spelling or do we take our reads from two candles to define the trend? Because as far as i have read it just seem to be one candle to define the direction to trade?

Regards
Doroteo
Simply put if price, the high, and the low are above both lines UT. If all three are below the lines DT. If any one of those three are between the lines Ranging. That is as simple as I can make it. So you decide by the candles what they are doing in relation to the line and decide how you want to trade that day. Of course it is not fool proof but I think you can win more than you lose with it.
  • #166
  • Aug 21, 2011 8:43am Aug 21, 2011 8:43am
Quoting spyderman
Okay, I'm starting to make a little headway understanding when to put these ea's on. Just a few questions for Bob or whomever...

What about lot size. Do you always stay with the minimum or bump it up with account balance.

It seems there's not much talk in the booklets about using the RWB. Are we not concentrating on those anymore?

So, for trading on the daily:
Price above the lines = OI ea ( and is this just for a CTR or am I looking for a trend change as well with this)
Price between = buy or sell in direction of expected trend.
Wide lines...
My formula is one penny per 200 hundred dollars. So if you have 1000 dollars on a account you could trade a nickel lot. 2000 would be dime lots. This gives you plenty of room to deal with bad trades but still puts money in the bank when they win. I have been trading 3 penny and 5 penny lots on 1000 dollars in my range account and so far I am up I am up 17.2% for the month from my original starting amount of funds. So that would be 172 dollars in less than 3 weeks. If I had used the same ratio with 10K it would be 1700 dollars and if I used 100K that would be 17000. So keep things in a certain ratio, lots to account size and it makes your trading so much easier to live with. I had one trade go -1400 in the hole but account wise that was only 42 dollars. I counter traded it back to zero and not one time was I worried about my account being blown, yet I keep increasing my account almost 1% a day. Once you get comfortable trading such small sums and see that compound interest will put everything on your side over time you can see your account grow over time. 1000 dollars at 10% gain every month gives you over 3000 or triple your money in one year. 20% would give you almost 9000 or 9 times your money. If you can ever grasp the math of compounding interest and get away from the guys that try to get homeruns in Forex I believe I have done my job in making you a successful trader. And remember we are trading pennies, not dimes or dollars but pennies. The beauty of compound interest or incrementally increasing your lots with the growth of your account. Make trading boring and it can be fun.
  • #167
  • Aug 21, 2011 8:53am Aug 21, 2011 8:53am

It seems there's not much talk in the booklets about using the RWB. Are we not concentrating on those anymore?

I use the info from RWB all the time and I have used that thing for years and years. I just dont talk about it much but it has nuances in it that I use in trading. It is guys who use RSI a lot or MACD or .............. they find adding it to my system helps their read better. So I deliberately kept my system simple so you could add your favorite indicator to help in your decision making. But yes I use RWB all the time that is why it is still in there.

So, for trading on the daily:
Price above the lines = OI ea ( and is this just for a CTR or am I looking for a trend change as well with this)
Price between = buy or sell in direction of expected trend.
Wide lines...

Since this is August and price historically ranges for the month I will be looking for crosses back and forth over those lines. As we get into Sept. and Oct. then we will look to ride the trend more. Knowing some basic fundamentals also helps in choosing your EA. Obviously if the EURO takes front and center in the news again with sovereign default you will want to only use the sell EAs no matter what the candles are saying. Some of these questions will be answered better as we learn to read the relationship between the candles to the lines. However, if you check your charts you can see when price crosses a line it generally gives you something in positive pips.
  • #168
  • Aug 21, 2011 10:03am Aug 21, 2011 10:03am
Steve Hopwood's EAs were adapted to 10.0 for those that like his EAs. They have no TP in them but they do have the safety feature of trade one time and then stop. You have to reset them to use again.
  • #169
  • Aug 21, 2011 10:11am Aug 21, 2011 10:11am
For Monday I will play OI
eur/aud
eur/nzd
gbp/aud
gbp/chf
gbp/nzd

According to the rules you should buy with trend continuing 1H or 4H on the two euro but I am not going long euro with the news floating around on that currency right now. I also am not gong long on the gbp in August. If this was Sept. or Oct. I would but not now.
  • #170
  • Aug 21, 2011 10:17am Aug 21, 2011 10:17am
Quoting nanningbob
For Monday I will play OI
eur/aud
eur/nzd
gbp/aud
gbp/chf
gbp/nzd

According to the rules you should buy with trend continuing 1H or 4H on the two euro but I am not going long euro with the news floating around on that currency right now. I also am not gong long on the gbp in August. If this was Sept. or Oct. I would but not now.

Hi,

I read all booklets and went over this thread, but I still find it hard to understand when I should use each EA.
I've prepared the following table, for the 4 daily EA's, and when to use each EA.
Is it correct?
On which standard cases do you use the "10.0 DAILY O.I. RECOVERY" where it's not for recovery?

Thanks!
Attached Image
  • #171
  • Aug 21, 2011 4:40pm Aug 21, 2011 4:40pm
Hi People,

Have just started reading this thread, and am looks to be great. Intially, I just want to setup RWB indicator, and then once have got that and lear to use it, will setup others as well.
However, I could not find the RWB indicator in any of the attachments. Am I missing something?
Appreciate your help.

Thanks,
Invest
  • #172
  • Aug 21, 2011 5:47pm Aug 21, 2011 5:47pm
Quoting Investwiz
Hi People,

Have just started reading this thread, and am looks to be great. Intially, I just want to setup RWB indicator, and then once have got that and lear to use it, will setup others as well.
However, I could not find the RWB indicator in any of the attachments. Am I missing something?
Appreciate your help.

Thanks,
Invest
it is already set up in the template.
  • #173
  • Aug 21, 2011 9:18pm Aug 21, 2011 9:18pm
Hi NB,

My broker is an ECN. Are the EAs posted on Aug 11 in post #58 the latest version for ECN. Have they been updated to correspond to latest updates in post #1? Thanks.
  • #174
  • Aug 21, 2011 9:32pm Aug 21, 2011 9:32pm
NanningBob,
Few people are as intelligent as you are in Fx Trading
Even fewer are as generous with their time as you are.
Credit to your teaching abilities as well!!
I've been a silent lurker for a few years ... always breaking even.
Who knows, with your help, I might finally learn to fish someday soon, aye?
Cheers
PB
  • #175
  • Aug 21, 2011 11:44pm Aug 21, 2011 11:44pm
Quoting PaulaC
Hi NB,

My broker is an ECN. Are the EAs posted on Aug 11 in post #58 the latest version for ECN. Have they been updated to correspond to latest updates in post #1? Thanks.
The new EAs posted pg 1 post 1 update #2 made by Steve Hopwood have a true false set up for ECNs. Just change it to true when you take it to the screen and save the template for future trades. Then use Steve's MPTM to set up your TP, SL, TS, etc. if you desire those things.
  • #176
  • Aug 21, 2011 11:49pm Aug 21, 2011 11:49pm
Quoting yaniv_av
Hi,

I read all booklets and went over this thread, but I still find it hard to understand when I should use each EA.
I've prepared the following table, for the 4 daily EA's, and when to use each EA.
Is it correct?
On which standard cases do you use the "10.0 DAILY O.I. RECOVERY" where it's not for recovery?

Thanks!
That is why you demo first and learn how to use them. Yes I call it a recovery EA but when prices are ranging it makes a good range EA also. If price goes back to the center, which I think it will do based on the fundamentals as I understand them, The EA will enter a trade. If I am wrong then nothing will happen because the EA will keep me out of the trade. I mean that is trading, you analyze, you make a decision and then go with what you think is best. I love using EAs because they will only enter if certain conditions are met. I believe price will retrace. If I am wrong it wont enter. If I am right then it will enter. If I was manually trading I would enter based on my belief and if I am wrong I get to face SL heaven or hell. I think that is why I have been able to keep my win ration above 70 and sometimes 80%. The EA keeps me out of my bad guesses errrrrrrrrrrr expert knowledge of market direction. LOL
  • #177
  • Aug 22, 2011 12:37am Aug 22, 2011 12:37am
Quoting nanningbob
The new EAs posted pg 1 post 1 update #2 made by Steve Hopwood have a true false set up for ECNs. Just change it to true when you take it to the screen and save the template for future trades. Then use Steve's MPTM to set up your TP, SL, TS, etc. if you desire those things.
Thanks. Ahhhh, I now see in post 1 your new detailed "Instructions for 10.0 Trading System" for changing your EAs accordingly. Thanks so much for help in coding for those of us who are users, not coders!
  • #178
  • Aug 22, 2011 2:39am Aug 22, 2011 2:39am
Quoting nanningbob
Yes I call it a recovery EA but when prices are ranging it makes a good range EA also
But, according to 10.0 definition, "range" is defined only when price/high/low is between the MA's, doesn't it?
So you actually range trade using O.I also when price is in clear UT/DT but seems to be consolidated? For example, euraud which yesterday you said you O.I it? What about the RWB? in this case it seems very bullish. Does it affect your decision? Or only fundamentals?
  • #179
  • Aug 22, 2011 3:06am Aug 22, 2011 3:06am
Ok, this morning I've started 10.0 on demo.

I would like to get your opinion on my first decisions:
EURNZD: 4H CTR Buy - this pair is in UT, and I want to reenter the trend.
EURCAD: Daily O.I recovery - this pair is in UT, but the price seems to have a strong resistance + RWB shows weakness.
GBPCHF: 4H CTR Both - this pair is in range (between MA's) with large spacing and I don't know the future direction.
USDCHF: 4H CTR Both - same as GBPCHF.
USDJPY: 4H CTR Sell - this pair is in range, and I believe the direction is down.

Thanks!
  • #180
  • Aug 22, 2011 6:08am Aug 22, 2011 6:08am
Quoting nanningbob
it is already set up in the template.
Hi Nanningbob,
Many thanks for your reply. Setup the template, and yes, its all there.

Cheers
Invest
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