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Nb 10.0 range trading system

  • #101
  • Aug 23, 2011 12:31am Aug 23, 2011 12:31am
Quoting whitegoodman
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...
which pairs are you using it on predominantley?
rat
  • #102
  • Aug 23, 2011 1:14am Aug 23, 2011 1:14am
Quoting rattyo
which pairs are you using it on predominantley?
im testing on pretty much all atm... when live i think its better to go the crosses/syntehtic pairs .. audnzd, audcad, eurcad, gbpcad, eurnzd, gbnzd, eurgbp etc
Grabbing the bull by the horns!
  • #103
  • Aug 23, 2011 2:12am Aug 23, 2011 2:12am
Quoting whitegoodman
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...
IMO I don't think having recovery at x pips away from original entry is a good idea. I think Bob is steering away from this, hence the introduction of 10.0 recovery and waiting for price to cross back over the 2ma on daily. That way a price can run up the BB all it wants, but ea won't enter until 2ma is crossed.
  • #104
  • Aug 23, 2011 2:43am Aug 23, 2011 2:43am
Quoting Frodog
IMO I don't think having recovery at x pips away from original entry is a good idea. I think Bob is steering away from this, hence the introduction of 10.0 recovery and waiting for price to cross back over the 2ma on daily. That way a price can run up the BB all it wants, but ea won't enter until 2ma is crossed.
yeh thats what im saying, but if you have second reentry when MA crosses the BB, when it DOES runup the BB you could have 100's of entries... what im saying is for re-entries to be the same as the initial entry in criteria (1hr EA, MA high crosses BB) however price has to be for eg 100+ pips away from initial entry..
Grabbing the bull by the horns!
  • #105
  • Aug 23, 2011 4:00am Aug 23, 2011 4:00am
Hello,

though I have studied booklets I am confused about proper using of EA for recovery.
I use '10.0 1H CTR BOTH' on GBPUSD. Buy trade was sent some days ago. Yeasterday I decided to replace this EA by 10.0 DAILY RECOVERY after -125 pips expecting to send another buy trade but EA sent sell trade. Could someone advise how to use EA just for recovery?
  • #106
  • Aug 23, 2011 10:36am Aug 23, 2011 10:36am
Another good day - Update is a bit earlier than normal butI need to go out

lot size 0.02 on £1,000 demo

Today - 16.35% up - dd 3.04%

Yesterday ended at 16.04% (was at 13.14% when i wrote update)

Total since last Monday a monster 86.79%

No trades required hedge placement today

Take care and good luck


Quoting censura
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...
  • #107
  • Aug 23, 2011 1:44pm Aug 23, 2011 1:44pm
Quoting peje
Hello,

though I have studied booklets I am confused about proper using of EA for recovery.
I use '10.0 1H CTR BOTH' on GBPUSD. Buy trade was sent some days ago. Yeasterday I decided to replace this EA by 10.0 DAILY RECOVERY after -125 pips expecting to send another buy trade but EA sent sell trade. Could someone advise how to use EA just for recovery?
I will explain to you what I do and use a current recovery of the EUR/CAD, which is being a bit difficult right now. The first point I will make is if you are going to trade this system make sure you are not over leveraging your account on the initial trade or having too many recovery positions open. Managing DD is a big part in making the system profitable. This pair can move 10,000 pips and I am still ok - not happy, but ok with my account. On to the trade, you will see on the below chart where my initial CTR trade entry, which was 1.3773 @ .03 (L1). After I took the trade in early August, you see the run up when commodities currencies really fell off. When it does this, the beauty about the recovery system is you just wait until it completes its run and begins to pull back to the blue line (2MA). The way the daily recovery EA works is it trades "outside - in" (OI) on the chart. So, when the price comes back to the blue line and touches, it enters, anticipating a move back to the red line or beyond. 6 days later my second (L2) trade enters at 1.4031 @ .05 (green circle) and does not retrace much and heads back up to the 1.4200 area. Now, one could look back and say why did you not take L2 at 1.4250? The issue there is you don't know if the run is over at that point. It could easily continued to 1.45, so the definition that the run is over is coming back to the blue line. It is tempting, but in my experience, an entry like that is purely a guess and usually ends up being a poor one. After the green circle, it is heading back up and 5 days later it gets to the purple circle. At that point it would have entered at around 1.4150 and again gives us a head fake and does not retrace much. The purple circle explains one of the rules I use in recovery, which is I like to see space of around 200 pips (at least), before taking another position. So, if I would have entered at that point, my breakeven point would not have been affected much for the retracement. Good thing I did not enter because it headed up higher. The last two days, I did have good spacing for L3, so I had the EA loaded and it just missed entry, which is ok with me, I will just wait. So, I am 18 days into this one, patiently waiting for the L3 level to enter and my current BE point is 1.3934 (L1 + L2).

I will update you as this one progresses to show the next entry and completion of the recovery. If this one really starts to get nasty, I will also share at that time other strategies I have used in the past to aid in removing the DD. Keys with recovery is to be patient on the daily chart and keep good spacing on your L2 and L3 trades, waiting for Bob's golden rule to kick in - what goes up, must come down.

Hope that helps.

George
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  • #108
  • Aug 23, 2011 3:09pm Aug 23, 2011 3:09pm
Quoting George Adams
I will explain to you what I do and use a current recovery of the EUR/CAD, which is being a bit difficult right now. The first point I will make is if you are going to trade this system make sure you are not over leveraging your account on the initial trade or having too many recovery positions open. Managing DD is a big part in making the system profitable.........

George
Hello George,
thank you for explanation, logic of a trade sending seems to be clear. Recovery trade should be sent in the same direction as the first trade but my recovery trade was sent in opposite direction what is strange. If it would be sent in the same direction then both trades are closed on BE right now.
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  • #109
  • Aug 23, 2011 5:05pm Aug 23, 2011 5:05pm
Quoting censura
Another good day - Update is a bit earlier than normal butI need to go out

lot size 0.02 on £1,000 demo

Today - 16.35% up - dd 3.04%

Yesterday ended at 16.04% (was at 13.14% when i wrote update)

Total since last Monday a monster 86.79%

No trades required hedge placement today

Take care and good luck
You know I think you have really come up with a great idea on this hedging thing. At most I would only need to recover a 100 DD on any pair and if I am on the wrong side of a trade I can take the profit ride. This really intrigues me. Thanks for sharing. I may need to look for a foreign broker to try this out.
  • #110
  • Aug 23, 2011 6:02pm Aug 23, 2011 6:02pm
Quoting peje
Hello George,
thank you for explanation, logic of a trade sending seems to be clear. Recovery trade should be sent in the same direction as the first trade but my recovery trade was sent in opposite direction what is strange. If it would be sent in the same direction then both trades are closed on BE right now.
Peje, I am trying to understand your chart and not sure I am following it correctly, so I will interprete it based on some assumptions. Let me know if they are not correct. It looks like you had a BUY order first on the GBP/USD, which was well above the blue line, perhaps trying to re-enter the uptrend. The pair then drops down the to blue line (and you have the daily recovery EA on), once it touches the blue line, it looks like that is about the area which you have your sell order. If this is your scenario, then the EA performed correctly. With the daily recovery EA, it works outside-in, so (coming from the outside of the red and blue lines) the blue line creates a sell order and the red line sends a buy order. So, you are anticipating a move to go in between the red and blue lines for recovery. If I was in your position there, I would have looked to use probably the 4H CTR Buy EA to try and recover the trade, once it moved towards the -200 pip range. You are correct, if the L2 entered as a buy, judging from the candle, you would have been able to recover.

Hope that helps...

George
  • #111
  • Aug 23, 2011 6:40pm Aug 23, 2011 6:40pm
Quoting nanningbob
You know I think you have really come up with a great idea on this hedging thing. At most I would only need to recover a 100 DD on any pair and if I am on the wrong side of a trade I can take the profit ride. This really intrigues me. Thanks for sharing. I may need to look for a foreign broker to try this out.
I am sorry for asking something totally moronic (I seem to have a late night mental block). But what is exactly censura`s hedge strategy ?

As for broker which accepts US citizens!!! I heard some brokers like CMS accept US citizens (based in Bermuda). However, in my experience all good reputable ones are either in the USA or have close connections. Some Cyprus based ones do offer US citizens but you should read what scoobs says about them. Unfortunately, this brings me to the conclusion that you are better of with a big US broker (e.g. Oanda, ibfx, etc), using 2 accounts with the implications of needing more capital rather than go with some really despicable criminal just for the sake of 100:1 margin and the right to hedge. I know the implications are the need for much larger a/c balance but with the profits ver 10.0 is making at present the returns will still be quite reasonable.

Kind regards
  • #112
  • Aug 23, 2011 8:45pm Aug 23, 2011 8:45pm
Quoting astral77
I am sorry for asking something totally moronic (I seem to have a late night mental block). But what is exactly censura`s hedge strategy ?

As for broker which accepts US citizens!!! I heard some brokers like CMS accept US citizens (based in Bermuda). However, in my experience all good reputable ones are either in the USA or have close connections. Some Cyprus based ones do offer US citizens but you should read what scoobs says about them. Unfortunately, this brings me to the conclusion that you are better of with a big US broker (e.g....
I am based in the US and the above as listed by Astral77 is how I am set-up. I have one account which is for Trend trading. A second account which is for range/CTR. The pairs listed for each account do not cross over and are specific for the trading style. So, if I felt the need to hedge, an available pair in the other account is always available for that purpose. I have been fortunate enough that I don't hedge much at all to reduce DD with the 10.0 system. It is a pain sometimes switching between systems/brokers (I use two different brokers for the accounts), but it does provide good flexibility.

Good trading to all..

George
  • #113
  • Aug 23, 2011 11:43pm Aug 23, 2011 11:43pm
You can hedge with IBFX using two separate accounts. Their transfer from one account to another is pretty quick so it is possible. I just have not seen the need at this point to try it. Maybe some day I will, his strategy is similar to one I had in my head but he applies it differently.
  • #114
  • Aug 23, 2011 11:54pm Aug 23, 2011 11:54pm
Quoting censura
Another good day - Update is a bit earlier than normal butI need to go out

lot size 0.02 on £1,000 demo

Today - 16.35% up - dd 3.04%

Yesterday ended at 16.04% (was at 13.14% when i wrote update)

Total since last Monday a monster 86.79%

No trades required hedge placement today

Take care and good luck

Can you please explain your strategy of using the hedge trade and range trading.......

Thanks,
Prakash
  • #115
  • Aug 24, 2011 1:35am Aug 24, 2011 1:35am
Quoting whitegoodman
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.
bump this.. thoughts bob?

anyone know if this is difficult to code in?
Grabbing the bull by the horns!
  • #116
  • Aug 24, 2011 4:07am Aug 24, 2011 4:07am
Quoting whitegoodman
bump this.. thoughts bob?

anyone know if this is difficult to code in?
You can use the old martingale EA and just put in the number of pips. We used to set it at 200 reentry and go 3 levels deep. You can get that in the AUD/NZD thread and reset the numbers or we can post one for use.
  • #117
  • Aug 24, 2011 5:00am Aug 24, 2011 5:00am
Quoting George Adams
I will explain to you what I do and use a current recovery of the EUR/CAD, which is being a bit difficult right now. The first point I will make is if you are going to trade this system make sure you are not over leveraging your account on the initial trade or having too many recovery positions open. Managing DD is a big part in making the system profitable. This pair can move 10,000 pips and I am still ok - not happy, but ok with my account. On to the trade, you will see on the below chart where my initial CTR trade entry, which was 1.3773 @ .03...
Hi George,

Thanks for this explanation. Although, I think I missed something very basic here - as far as I understood from nanningbob's booklets, the heart of 10.0 is that when the market changes behavior (based on daily chart) - we must change immediately our trading style to the new behavior. Meaning, if the market was ranging, but now switched to UT, we should stop range trading and start trend trading. it stated many times by nanningbob in his booklets.
So my question is simple - as the euraud changed to UP, why trying to recover instead of closing the loosing trade, and switch to buy EA??
  • #118
  • Aug 24, 2011 5:27am Aug 24, 2011 5:27am
Just cracked $1000 net profit on live account since June 8. Gotta love a ranging market Starting balance $2500 trading .02
  • #119
  • Aug 24, 2011 5:55am Aug 24, 2011 5:55am
Quoting nanningbob
You can use the old martingale EA and just put in the number of pips. We used to set it at 200 reentry and go 3 levels deep. You can get that in the AUD/NZD thread and reset the numbers or we can post one for use.
but i dont want it to re-enter at a fix pip amount, i want it to re-enter under the same conditions but make a minimum pip difference between first entry.

heres what i mean...
Attached Image (click to enlarge)
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Grabbing the bull by the horns!
  • #120
  • Aug 24, 2011 6:45am Aug 24, 2011 6:45am
Hi

I use pivot points quite often, however, I had no idea that they were so accurate. Please read this short investopedia article http://www.investopedia.com/articles...tner=fxweekly8

Have a look at their research into EUR over the last 2026 trading days.

Kind Regards
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