NB Counter-Trade Trading

Hi,

I'm starting to trade according to Nanningbob's concept on counter trade trading, based on the SIXTHS & RWB indicators, and his recovery technique.
I trade on 4H charts only, as I feel the most comfortable with them.

If you're not familiar with NB great work, you can find system ver 5.0 here:
http://www.forexfactory.com/showthread.php?t=246113

NB has a new system, 10.0, which is a complete system for every market condition. I'm still learning it. Anyway, my preferred style is counter trade trading so I'll stick to this system and practice it in the near future.
You can read about 10.0 here:
http://www.forexfactory.com/showthread.php?t=308304

I'll paste weekly report in this jornal, which includes:
1. Weekly Profit/Loss (in pips terms)
2. Weekly DD (drop down) for each trade (in pips terms)
3. Floating trades
3. Total balance

Goodluck to me

Attached detailed report (closed & floating trades) for the previous week.

Weekly pips: +292
Floating pips: +120
Total Pips: +292

OK I am on board

I'ts an honor to have you on board
BTW, I was long on the eurchf today, and set TP to 1.12 - 1 "sixth" (as I'm not in front of a screen most of the time). 2 hours later I was shocked...

Attached detailed report (closed & floating trades) for the previous week.

Weekly pips: +812
Floating pips: -298
Largest weekly DD: -245

Total Pips: +1077 (second picture)

That is a bank intervention by the CHF bank. I hit the jackpot with the gbp/chf and now have to countertrade the chf/jpy. We will see who wins the war of the banks CHF or BOJ.

Yes, I know, that was a classical black swan...
I personally decided not to touch any CHF pair for now. As the SNB pronounced the bottom against the euro, any counter trading is very dangerous and with limited potential.

Well I expect the BOJ to do the same thing at some point and I will be out. THey are both playing the same game. So bouncy, bouncy up and down it should go.

Very weak week... Mainly trying to recover on the GBP pairs, and these positions are still floating.

Attached detailed report (closed & floating trades) for the previous week.

Weekly pips: +127
Floating pips: -626
Largest weekly DD: -82

Total Pips: +1204 (second picture)

Wasn't here for a while, so here is an update.
As it takes me a lot of time to prepare this report, I'll do it from now on only once a month or two. On the other hand, I'll update about trades in real time.
Floating trades:
EURGBP. Entry @0.85739, TP @0.86350

Sell: EURNZD @1.75769, TP @1.74610
Buy: CADJPY @75.279, TP @76.367

Floating:
EURGBP. Entry @0.85739, TP @0.86350 (-36 pips)

If you'll scroll to the beginning of the thread, you can see my Trade Explorer for the account I trade this method on.
It's better than any status summary I could have post.
Thx FF for gr8 product, and NB for gr8 job & kindness!

After 4 months of trading demo, I feel comfortable to go live. Isn't 1/1/2012 the most appropriate timing?
you can see the results so far on the beginning of this thread using ForexFactory "Trade Explorer".
I'll make the live account public too, so you can continue tracking this gr8 method's results. Again, many thanks for Nanningbob.

Good luck to me

Hey - I see that you are trading this live as I type! Congrats - so are you using NB10 or the newer 10.1?

Thanks!
I actually took NB main concepts from 5.0 & 10.0, and made my own adaptations.
I enter a counter-trend trade after I identify a weakness of a well-defined trend (I occasionally use the NB meter signal and/or FX5 MACD divergence).
I set TP according to SIXTH + optimizing according to well defined S/R levels.
And I make recovery trades quite similar to NB, again with some adaptations. The main one is something I used a long time, which I call "Time Frame Jumping". Meaning, if I have to recover, I wait for an entry signal on the next (higher) TF. for example, if I entered a CTR on 1H, and the trend continue, I wait to recover with a new CTR trade on the 4H chart. And then on the daily (sometimes I use a 2nd/3nd entry on the same TF if I see a very strong signal).

I'm very comfortable with my adaptations, and I generally think every trader must adapt any "external" system/method to his own trading style.

I was really impressed by your trading performance in 2012, but today you blow off your account. What went wrong ? Will you keep trading ?