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Nb 10.0 range trading system

  • #81
  • Aug 19, 2011 1:18pm Aug 19, 2011 1:18pm
Quoting censura
ok guys...
Fantastic my friend, well done and keep up the good work. Bob`s system has been proven to be successful over two years of live account testing (please see Ver5 thread). However, the main problem we faced up to now was the floating DD. Scoobs told us some time ago as to what is acceptable DD for the professional traders and it was less than 5%. So we want to be in the same position as professionals. Indeed that is the main reason BOB created version 10.

IMHO your capital to lot size ratio can be problematic. We have almost come to conclusion that for safe trading of this system for lot size of 10 cents you would need an account balance of $2000. At present the markets are very kind to the system and there is no problem, however, you should be ready when the markets are not as cooperative.

Moreover, recovery which is Bob`s fantastic and unique invention is very subjective and requires plenty of practice, discretion and correct trader psychology. Unfortunately, over the last two years I have seen some very competent traders becoming unstuck on this and they left FF disappointed and disillusioned. This is a great shame because a number of them were much more experienced and competent than I. Therefore, I strongly urge anyone new to Bob`s system to go through his past posts and thoroughly read EVERYTHING he has written (which is quite extensive) on this subject. Believe me it will make hell of a lot of difference (i.e. between success and failure).

Kind Regards
  • #82
  • Aug 19, 2011 1:20pm Aug 19, 2011 1:20pm
Quoting censura
ok guys i am now flat clossed all positions and what a week

End position 54.3% up for the week on a 1,000 demo account -maximum drawdown reached 24%

I am using .02 lot size as this was default in dashboard i am using curtousy of flame ammendements(thank you)

My recovery stratgy has been as from tue afternoon to hedge at 100 pips and this has worked well.

Jury is still out if

a) Use recovery ea on recross of ma on daily (Higher risk particualrly if it crosses and reverses) I only entre at same lot size ie 0.02 so no increasing lot size...
.02 maybe the default but that is two cents with a USA broker and 20 cents with many others. I would never trade live twenty cents per 1000 dollars but you maybe successful since you are able to hedge and probably have a higher margin than what we have, which we cannot do in the USA. I always thought a hedging system with this strategy would do very well but I am not able to do that here. So you will have to use your discretion. You could try .01 lots or 10 cents and play it safer, obviously 54% is great but it would be a risky strategy over the long term. I used to trade ten cents per thousand but the new margin requirements prevent me from doing so. Good luck. Also remember August is usually a very good range month but the news stories made it much more volatile than normal.
  • #83
  • Aug 19, 2011 6:59pm Aug 19, 2011 6:59pm
OK another decent week. Increased the account 3.94% so that is very acceptable. I will increase my lot size by one penny starting Monday so instead of trading .03 and .05 I will go to .04 and .06 2nd level. Remember that is pennies not dimes make sure you all understand the difference on that. I am up 17.2% for the month from my original starting amount of funds.

If you wish to figure percent of increase you take your starting balance lets say it is 1000 dollars. You increase it 172 dollars so your present balance is 1172. You compare your increase to the original balance so you take 172 and divide it by 1000 and you get .172 or 17.2%. 172/1000=0.172 That would be by the month.

Lets say you wanted to do the last week and you made 50 dollars. You would take your balance of 1172 subtract 50 dollars to get your starting balance for the week which is 1122. So 50 divided by 1122 is 0.0445 or 4.45%. So that is how it is done. Account is up 17.2% for the month and 4.45% for the week.

Now here is the exciting part. If you follow my formula of increasing lot size one penny every 200 dollars earned and you can average 20% a month. At the end of 1 year you have 8916.00 dollars in the account or a 791.6% increase of your account. Lets throw in a couple losing months so you average 10% a month (yes it will happen guys) you will have 3,138 dollars in your account or a 213.8% increase for you account. Now I believe that is slightly better than a bank.
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  • #84
  • Aug 19, 2011 7:11pm Aug 19, 2011 7:11pm
Quoting astral77
Thanks very much BOB. Well the main point is that thus far it is very profitable and my motto is why fix it if it is not broke. The main disadvantage in one time entry is that then it may miss out on some trades. It is a dilemma.
Kind Regards
P.S. I just had a thought regarding this problem and I want to know what you think.

For trades that go into by x pips we could reload the same EA but with a different magic number. This way if the EA is active if the opposite BB is hit and also it would act as a reentry for L2 as well....
That is how I do all my recovery trades if I want to use the same EA. I just change the magic number. However, I have some trouble with the gbp/cad because I did that too often. gbp/cad is 62% of all my DD right now. So my DD is light but it is taking over 60% of it. I have had 2 successful trades off of that high resistance line this week but I wish that thing would come back down or I will have to close some of my losing trades to keep things from getting out of hand. Yeah I know, I know, if I followed my own rules I wouldnt be in this mess. LOL, dumb dumb.
  • #85
  • Aug 19, 2011 8:30pm Aug 19, 2011 8:30pm
Quoting nanningbob
...if I followed my own rules I wouldnt be in this mess. LOL, dumb dumb.
As I keep reminding you SCHLOSSBERG says "DO AS I SAY AND NOT AS I DO". So in this regard you are with in distinguished company. I do hope this trade does work out for you. Personally I would not dare to touch this pair.

Kind Regards
P.s. Please go to Steve`s Big Bob thread and give us your opinion regarding the debate regarding Volatility.
  • #86
  • Aug 19, 2011 9:02pm Aug 19, 2011 9:02pm
How often do you think trading pairs need to be re-assessed as to volatility ranking?
  • #87
  • Aug 20, 2011 12:02am Aug 20, 2011 12:02am
Quoting Frodog
How often do you think trading pairs need to be re-assessed as to volatility ranking?
When ever they break outside the norm. For example OCT. 2008 changed everything concerning volatility. The markets are far more volatile the last 3 years as compared to the 10 years before that. The eur/chf used to be one of the least volatile pairs, well now it is not since the Greek thing broke out last year. Eur/gbp has been a great non volatile pair but I think that will change if the Euro breaks up. aud/nzd used to be the best ranging pair until China started buying everything up it can find in Australia. Markets change, people keep predicting doom and gloom for the USA but it still remains the strongest economy in the world and against many currencies it has appreciated the last 3 years instead of spiraling into hyper-inflation. So these things can change and when they do we will change. Right now the Eur/usd is ranging nicely and giving me several good trades a week. That will end soon enough though/


I used to have this beautiful EA called the 100x40 which made me some good money but it is worthless now because of the volatility issue. 10.0, I hope, is my final answer to this volatile market.
  • #88
  • Aug 20, 2011 1:03am Aug 20, 2011 1:03am
Quoting nanningbob
I used to have this beautiful EA called the 100x40 which made me some good money but it is worthless now because of the volatility issue. 10.0, I hope, is my final answer to this volatile market.

would you still use the AUDNZD/AUDCAD both ways (35x20) EA if you still could? my broker allows both ways and nano lots and 5 pip spread..
Grabbing the bull by the horns!
  • #89
  • Edited 8:11am Aug 20, 2011 8:00am | Edited 8:11am
Quoting whitegoodman
would you still use the AUDNZD/AUDCAD both ways (35x20) EA if you still could? my broker allows both ways and nano lots and 5 pip spread..
Not the AUD/NZD, It used to bounce 30-60 pips up and down every 5-10 minutes and you could make a killing on it even with the 15-20 pip spreads back then. Now it moves more like normal currency pairs. Get China out of the way and you probably could.

Aud/cad hmmmmmmmmmmm dont know havent looked at that one. maybe with the 10.0 sytem as a backup if things went bad you could. I looked at the chart on aud/cad and on 8-2 and 8-8 it would have gone outside the range of that EA. The run up in mid March to end of April would probably have done in that EA also. So you would have periods of recovery at times. Whether this would overcome its profits I dont know. I do know it doesnt bounce up and down like the aud/nzd used to do. That thing would spike 60 pips 2-5 times every hour and I would pick off the tops and bottoms. Best kept secret in Forex but it doesnt do that anymore. I did use it on the usd/sig (singapore dollar) successfully but that is no longer offered. USD/HKD might work too but I cant trade that one either. I tried the Danish Kroner ?? and Euro but the spread widens too much when it spikes for it to work. Any currency that is tied to another like the RMB is to the USD and is not free floating it would work. For example if we could do the RMB because it stays very stable and not move would probably be a big money maker if it was trade able.
  • #90
  • Aug 20, 2011 8:08am Aug 20, 2011 8:08am
Here is a pic of an aud/nzd spike on a 5M chart. It used to do this several times an hour during busy times now it may only do it once or twice a day.
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  • #91
  • Aug 21, 2011 2:14am Aug 21, 2011 2:14am
I will be initially using 0.01 per 1,000 when i go live and all trades hedges and that recovery ea placed on at 0.01 . 0.02 was an error as that was default and i left it as it was demo i will continue in demo like this for a few more weeks - if it works at this leaverage it should work with half it on live account. also demo is 1:100 leaverage and my live micro is 1:500 so this will give a bit more breathing space

thank you for your guidence and input bob


Quoting nanningbob
.02 maybe the default but that is two cents with a USA broker and 20 cents with many others. I would never trade live twenty cents per 1000 dollars but you maybe successful since you are able to hedge and probably have a higher margin than what we have, which we cannot do in the USA. I always thought a hedging system with this strategy would do very well but I am not able to do that here. So you will have to use your discretion. You could try .01 lots or 10 cents and play it safer, obviously 54% is great but it would be a risky strategy over the...
  • #92
  • Aug 21, 2011 8:56am Aug 21, 2011 8:56am
Quoting censura
I will be initially using 0.01 per 1,000 when i go live and all trades hedges and that recovery ea placed on at 0.01 . 0.02 was an error as that was default and i left it as it was demo i will continue in demo like this for a few more weeks - if it works at this leaverage it should work with half it on live account. also demo is 1:100 leaverage and my live micro is 1:500 so this will give a bit more breathing space

thank you for your guidence and input bob
You ready for some strange news. If you traded one penny on 1000 dollars and did as well as I have this month you still would have increased your account 5%. If you went to an investment counselor and told him you could get 5% a month in Forex he probably would tell you at some point you will lose all your money because that has to be too risky of an investment.
  • #93
  • Aug 22, 2011 11:16am Aug 22, 2011 11:16am
Another week - Never loooked forward to the start of a week so much recently:-

Well the pips keep coming -
I have decided this week to purly focus on matching winners with any trades that go to -100 pips at the earlies opportunity . So trade hits -100 put on hedge and then match with next corresponding winners that = lossing trade.

That has happened once today with GBPNZD -111 when i placed hedge this happened at 16-02 uk time and matched out at 16-51

Current position - + 13.14% today floating +2.51%

Total since last Monday 67.54% up

Great will keep demoing for another 2 weeks clossing all trades each friday 4-30ish uk time

Good luck all
  • #94
  • Aug 22, 2011 1:38pm Aug 22, 2011 1:38pm
Hi all,

I have been having some fun with this 1h CTR both

CTR enters with sl 35pts

trade then managed with MPTM
BE 30pts 15pts profit then a jumping stop of 30pts

13 pairs

its opened 14 trades today 8 closed with +135 and +125ish points still open. 1 lost trade

so its aprox 1.75% up today .

Might be a good idea if in the MPTM we could have an option to stop all trades if volatility gets too high or not open new trades ??

Thanks Bob
  • #95
  • Aug 22, 2011 3:51pm Aug 22, 2011 3:51pm
Hi, how does this MPTM advisor work? I didnt see any explaination in the booklets..
Thanks Doroteo
  • #96
  • Aug 22, 2011 4:08pm Aug 22, 2011 4:08pm
Quoting Doribj
Hi, how does this MPTM advisor work? I didnt see any explaination in the booklets..
Thanks Doroteo
Hi Bro

You'll find everything you need to know about MPTM in this thread. Start with the user guide.

http://www.forexfactory.com/showthre...99#post2029899
  • #97
  • Aug 22, 2011 10:38pm Aug 22, 2011 10:38pm
Morning all.
I woke up this morning to see that USDJPY had opened about 115 sell trades and closed them pretty much straight away.
I don't have the time to anylise it yet as I am getting ready for work.
I am using the following settings :
Trade opened with no SL
Trade then managed with MPTM 25+10
BE 25pips 10pips profit then a jumping stop of 25pips after BE
Hedging at -100 pips
Total loss about $30 @ 0.01 Lots
Be interesting to see if anybody else experienced the same problem
Have a lovely day all.
  • #98
  • Aug 22, 2011 11:33pm Aug 22, 2011 11:33pm
Quoting wobstix
Morning all.
I woke up this morning to see that USDJPY had opened about 115 sell trades and closed them pretty much straight away.
I don't have the time to anylise it yet as I am getting ready for work.
I am using the following settings :
Trade opened with no SL
Trade then managed with MPTM 25+10
BE 25pips 10pips profit then a jumping stop of 25pips after BE
Hedging at -100 pips
Total loss about $30 @ 0.01 Lots
Be interesting to see if anybody else experienced the same problem
Have a lovely day all.
Is your broker a 5 digit broker?? the MPTM maybe set on 4 digit broker. That would screw things up. Are you using my or SH EAs and maybe one of his is set wrong.
  • #99
  • Aug 23, 2011 12:21am Aug 23, 2011 12:21am
Good morning sir.
I am using Pepperstone, a 5 digit ECN broker.
I am using the version you supplied.
It still had a trade on that pair running this morning which was in profit at the time.
I cannot check it as my internet usage is limited here at work.
Thank you.
  • #100
  • Aug 23, 2011 12:29am Aug 23, 2011 12:29am
really enjoying just using the 1hr CTR both ways EA. I think using that as a substitute for original 60x90 'idea' is working quite well for me atm. A couple of thoughts:

- despite some people having problem when trades close when it hit the other BB at a loss, i think this is a good risk mitigation thing and often gets you back in the direction for a profitable trade on the next entry. You are getting more losing trades then just averaging and using recovery but the DD is SIGNIFICANTLY less I believe and the winners still outweigh the losers in both win % and pips.

- an idea for adapting the EA for re-entries. Is it possible to set rules like price has to go 'x' amount of pips into drawdown from the first entry and also having the MA cross the BB (same entry rules) to reopen a second trade at a lot size that is 'x' multiplier. The rules on closing trades when hitting the other BB still apply for controlling risk. I think this would work well when you get price running up a BB, then it pauses and is say for eg 150pips in DD, then it spikes again to cross the BB then reverses in the direction of original entry.

thoughts?
Grabbing the bull by the horns!
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