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Nb 10.0 range trading system

  • #201
  • Sep 19, 2011 11:07am Sep 19, 2011 11:07am
Dear bob,

I have confused about when we open a order then the trend go against for us, we could do which action to response, I think the scenario table like follwing , please help to clarify the response action be right or have another option to do

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  • #202
  • Sep 19, 2011 11:25pm Sep 19, 2011 11:25pm
Quoting Devonfgu
Dear bob,

I have confused about when we open a order then the trend go against for us, we could do which action to response, I think the scenario table like follwing , please help to clarify the response action be right or have another option to do

You wait until the low breaks the blue line when blue is above the red or the high breaks the blue line when blue is below the red line on the daily chart. That signals the run is over most of the time and it is safe to range trade, counter trade, or reversal of trend.

If the fundamentals are strong these are the dips in an uptrend or a rally in a downtrend. For example the fundamentals are strong against the EURO right now so I wont do buys on it. So when the high breaks the blue I play a rally in a downtrend. So I will do sells on the Euro. I will continue to do this until the Euro settles on its debt issues.

I wish I knew the fundamental on the pound right now other than it is being dragged down with the Euro. I have also settled on doing only sells on the pound also. Looks nice every 4-8 hours pocketing those profits. Still on the wrong side of the gbp/usd however.
  • #203
  • Sep 21, 2011 5:51am Sep 21, 2011 5:51am
Hi Bob,

Thanks so much for your time and generosity that you put into sharing this system. I've been following a few weeks and starting to slowly get my head around it.

Quoting nanningbob

I have also settled on doing only sells on the pound also. Looks nice every 4-8 hours pocketing those profits.
May I ask, are you just setting the 1hr reenter sell EA and letting it run in this case?

Many thanks again
  • #204
  • Sep 21, 2011 9:26am Sep 21, 2011 9:26am
Quoting Iknowboats
Hi Bob,

Thanks so much for your time and generosity that you put into sharing this system. I've been following a few weeks and starting to slowly get my head around it.



May I ask, are you just setting the 1hr reenter sell EA and letting it run in this case?

Many thanks again
Depending where price is sitting I will use my IO ea on the daily or the 1H sell. I am also using my new 4H sell EA system which I will post this weekend. It seems to be working fine and will take more trades than the present 4H EA I have posted.

I also had a buy going and trying to recover on the gbp/usd but now consider that futility for the near future. I took out half of the DD today on the gbp/usd using my profits for the week. I will try to take the rest out later. One of the things I am doing is reducing the lot size so if the original lot is .03 or .04 I will reduce it down to .02. If I ever get a recovery trade it will then be simpler to wipe out. I was late in realizing that the pound planned exit out of their mess is to inflate the heck out of the pound. They are pursuing this policy more heavily than any other country right now and it is succeeding. So this is one of those times I just feel to get out rather than trying to fight a recovery. I will continue to try to recover my CHF trades but my pound buys I am going to drop with each profit I take until its gone. Probably end the week with my first negative or zero growth week since starting 10.0. The fundamentals are really looking ugly with the GBP right now. I was so focused on the EURO I missed this one.
  • #205
  • Sep 23, 2011 10:18pm Sep 23, 2011 10:18pm
Well this will certainly test 10.0. I am currently at about 55% DD. Currently 7700 pips in DD. I recovered from that g/c trade I posted earlier after using profits to close L1 and then PA had a nice run up to BE for L2/3. I couldn't just get out earlier for all current trades because PA dropped so quickly. If I had just got out it would of taken out months of profit. I am just patiently waiting for 10.0 to do it's thing.
  • #206
  • Sep 23, 2011 10:32pm Sep 23, 2011 10:32pm
Quoting Frodog
Well this will certainly test 10.0. I am currently at about 55% DD. Currently 7700 pips in DD. I recovered from that g/c trade I posted earlier after using profits to close L1 and then PA had a nice run up to BE for L2/3. I couldn't just get out earlier for all current trades because PA dropped so quickly. If I had just got out it would of taken out months of profit. I am just patiently waiting for 10.0 to do it's thing.
WOW 55% that is trouble. I am around 22% and have started closing trades here and there to keep it down. I will close trades once i get over 20% and deal with it later. I am glad I had taken out over 1/2 half of the gbp/usd or that would have been trouble. It is still manageable at this point. The good news is JPY is thinking of intervening in the markets so I am hoping that will take care of NZD/JPY and CHF/JPY next week. GBP/USD still concerns me so I think I will use profits to close more of that one out. We have the USD coming up as a safe place for funds if the economy goes bad to worse and the GBP wanting to depreciate the heck out of the pound. So thats a double whammy there. China is reporting a slow down for the third straight month which will crash the AUD and NZD if it continues. Lots of ugly news out there to screw up range trading. I am hoping my idea of just the least volatile pairs will work during these bad times. 10.0 recovery will get a severe test. If it survives this then it will survive anything. Economic collapse world wide or very sever economic damage is a possibility.
  • #207
  • Sep 24, 2011 10:46pm Sep 24, 2011 10:46pm
I am able to hedge. Would you suggest hedging certain trades at double lot size? My current positions in big DD are:
chf/jpy buy
eur/gbp sell (not too worried about this)
nzd/jpy buy
usd/cad sell
gbp/usd buy
cad/jpy buy
aud/usd buy
aud/jpy buy
aud/cad buy
  • #208
  • Sep 24, 2011 10:53pm Sep 24, 2011 10:53pm
Quoting Frodog
I am able to hedge. Would you suggest hedging certain trades at double lot size? My current positions in big DD are:
chf/jpy buy
eur/gbp sell (not too worried about this)
nzd/jpy buy
usd/cad sell
gbp/usd buy
cad/jpy buy
aud/usd buy
aud/jpy buy
aud/cad buy
I will talk about some of these trades on my 4H sight tonight. When I post my 4H counter trading back into the trend. All JPY dont hedge, BOJ is probably going to do a major intervention soon, hopefully this week. AUD that is a yucky call since China's economy is slowing down. JPY because of bank intervention, GBP because they are printing pounds like crazy, aud/cad fellow commodity currency should have the same problem so they should bounce up and down consistantly, aud/usd will probably need a hedge if you cant counter out of it. It is #1 on my list to use profit to get out of. Talk more tonight in the 4H thread.
  • #209
  • Sep 28, 2011 4:12am Sep 28, 2011 4:12am
Hi Bob,

Do the templates have any effect on the EAs, or are they just to make it easier to see what's going on? I.e, can we use any template with any EA?

Thanks
  • #210
  • Sep 28, 2011 6:07am Sep 28, 2011 6:07am
Quoting Iknowboats
Hi Bob,
Do the templates have any effect on the EAs, or are they just to make it easier to see what's going on? I.e, can we use any template with any EA?
Thanks
In case Bob is busy I can answer this one. For NB systems you can use any template you like and or you can customize the existing templates. With some EAs which use a particular customized indicator then you need to have that indicator on your chart in order for the EAs to function properly. As far as I am aware non of Bob`s EAs need a customized indicator to function.

Kind Regards
  • #211
  • Sep 28, 2011 8:55am Sep 28, 2011 8:55am
Quoting Iknowboats
Hi Bob,

Do the templates have any effect on the EAs, or are they just to make it easier to see what's going on? I.e, can we use any template with any EA?

Thanks
The EAs and templates do not interact. The templates only try to show what the EAs should be doiing.
  • #212
  • Oct 1, 2011 10:45am Oct 1, 2011 10:45am
Since most of the trades are now in recovery I have spent most of my time in the 4H CT section. Doesnt mean I havent stopped range trading the 1H. Ok my trades and how they are going. Except for the AUD/NZD and USD/JPY. All the trades are in some form of recovery. I will list the pair, total negative pips all levels, when the 1L trade started and percentage of recovery so far since the 1L trade started. I also may make some comments on some of the pairs. It doesnt mean I have been losing all month I only am reporting since the trade went into recovery. My overall increase in my account for all 10.0 trades is 13.3%. Most of my recovery trades I am using the CT 4H system and some OI on the daily chart. Anyway here is range trading as of this weekend.

aud/cad -310 since 9-9 recovered 57% so far. Not too worried about this pair since they are both commidity economies. If commodities go down they both will and this causes them to bounce around consistantly.

aud/jpy -494 since 9-19 recovered 30%. China economy slowdown brings the aud down, BOJ desire to bring down the jpy. Let the bouncing begin.

aud/nzd -75 this has been my best trading pair the last two months. Very reliable bouncing pair. Probably should just trade this and leave the rest.

aud/usd -1637 9-9 recovered 18% Now that reports of Chinese economy in slow down and USD strengthening that is a double whammy. I am making this pair my #1 priority of getting out of. This trade is nothing but trouble right now. The one redeeming quality is China has been buying some AUD. So hopefully see a retrace and out. If you are not into this pair I would consider only sells on it for now.

cad/jpy -629 9-19 recovered 11% I am expecting BOJ to step in at some point and stop the jpy from further strengthening. Will wait this one out.
  • #213
  • Oct 1, 2011 10:56am Oct 1, 2011 10:56am
eur/gbp -161 9-23 recovered 0 This has just started and mainly from Friday's move. Will look for a retrace trade sometime next week.

gbp/cad -303 9-28 recovered 0 I will put a trade at the peak here for a nice sell. This is as high as it gets. Just look at the weekly or monthly chart. So will manually enter a sell on Monday.

gbp/usd -1037 9-1 recovered 60% after a 5 week dive looks like the gbp is finally retracing. I made this a priority last week and even though my pips DD looks big I only have .01 lot left on the -700 negative trade. So I will use normal recovery to eliminate the rest this week.

Comment on GBP. This thing is all over the place. gbp/usd is diving, gbp/cad is flying and the gbp/chf is floating like nothing is happening. eur/gbp is ranging but did a dive Friday. So most euros went up but not with the gbp. Go figure.

nzd/chf-194 9-6 recovered 116.2% One of the bright spots for the month along with the aud/nzd. Already BE and making profit again with this one.

nzd/jpy -1100 recovered 11% This pair likes to break out and then range, breakout and then range. So with this range time we will bring this back to BE soon.

usd/cad -767 recovered 5% Watch out for this one. The USD is such a powerhouse currency and the CAD such a small one it can get crushed with strong USD moves. This is one pair I will just eat a loss rather than try to recover. Major resistance area coming up on the weekly and monthly charts. If it breaks that area I will just take the loss. I have learned the hard way too many times not to get caught in USD power moves with the CAD.

USD/JPY I will only do buys with this pair for now. JPY wants to weaken its currency and the USD is on a strong move. SO why fight it. Do buys in the dips.

Final comments: concentrate on eliminating DD on the usd/cad and the aud/usd. Use your profits to clean things up.
  • #214
  • Oct 1, 2011 11:59am Oct 1, 2011 11:59am
So the drawdown is around 6700 pips to the most experimented person here. I guess many (most of) accounts blowed up already. That is the reason is so quiet in the last couple days.

I want to see where this s going, because I want to go live, and need to know whats the best amount I should start with. I guess this is the worst case scenario
  • #215
  • Oct 1, 2011 12:48pm Oct 1, 2011 12:48pm
I appreciate this thread is todo with range trading but you need to be very careful when trading some of these currency pairs because the underlying trend can blow your accounts.

As NB has stated USDCAD can be a killer when the USD moves, also, by my calculations the following is one reason why you can be stuck with DD even though you may think you are in a range trade.

AUD Trend -4 (out of 7 pairs supported by Alpari UK)
CAD Trend -3 (out of 6 pairs supported by Alpari UK)
CHF Trend -4 (out of 6 pairs supported by Alpari UK)
EUR Trend +1 (out of 7 pairs supported by Alpari UK)
GBP Trend +3 (out of 7 pairs supported by Alpari UK)
JPY Trend +6 (out of 7 pairs supported by Alpari UK)
NZD Trend -5 (out of 5 pairs supported by Alpari UK)
USD Trend +6 (out of 7 pairs supported by Alpari UK)

Scoobs
  • #216
  • Oct 1, 2011 8:48pm Oct 1, 2011 8:48pm
We are experiencing some of the biggest moves in Forex since Oct. 2008. The pairs I chose were the ones that range the best but of course there can be problems. My DD is under 25% which means I need to add funds or drop some trades. Also dont forget I have also posted a 13% increase over the month. I could close out all the bad trades and still post a profit but at this point I dont see a need except for the aud/usd and cad/usd. If I do that I want it on my Oct. sheet and see if I can overcome and still make OCT. profitable. Friday had a big run up, I suspect re-tracement Monday and Tuesday from that. Either way I will close out some of those losers with some of my profit Monday and get my DD back under control. The key is making sure you have a plan on how you want to exit. Both the cad and aud depend on the major S/R spots they are at on the monthly chart. If they break those spots then obviously I dont want to deal with recovery and will just take the loss. Then I will take all month and try to get it back.
  • #217
  • Oct 1, 2011 9:29pm Oct 1, 2011 9:29pm
I like to study the forex overall trading knowledge and concept from bob, not like common manual strategy system just teach me sell when indicator cross down and then buy on indicator cross up... , As bob sayed: "The key is making sure you have a plan on how you want to exit". these are I want to study from bob and I think these was the factor that could survive long term on forex trading . I am demo testing Stev EA from long time ago, but I still not live trading these EA now, because some time the Stev EA will caused big DD, then I don't know how to handle it that I should let EA to continue recovery or let EA to hedge the order,I have not any idea or system could help me to do judgement, so I study the Bob system and expect to manual intervention the EA for recovery and hedge behavior. if I could do the plan myself how to exit then I will trading Stev EA on live.

thanks you bob, all of your post, I copy and paste in my note.
and I am a Chinese and I know you like Chinese people


  • #218
  • Oct 1, 2011 9:36pm Oct 1, 2011 9:36pm
Quoting Devonfgu
I like to study the forex overall trading knowledge and concept from bob, not like common manual strategy system just teach me sell when indicator cross down and then buy on indicator cross up... , As bob sayed: "The key is making sure you have a plan on how you want to exit". these are I want to study from bob and I think these was the factor that could survive long term on forex trading . I am demo testing Stev EA from long time ago, but I still not live trading these EA now, because some time the Stev EA will caused big DD, then I don't know...
Thanks, I have enjoyed my stay in China.
  • #219
  • Oct 3, 2011 9:49am Oct 3, 2011 9:49am
I made my choices for today. I took out part of my aud/usd and chf/jpy trades today. 1.1% of my account. This brings my DD down over 2%. I will reassess tomorrow what other steps I will take to lower more of my DD. I want to see if some of my CT trades will take some profit today. Going to bed now.
  • #220
  • Oct 7, 2011 9:13am Oct 7, 2011 9:13am
Quoting Frodog
Just cracked $1000 net profit on live account since June 8. Gotta love a ranging market Starting balance $2500 trading .02
Hi Frodog,

That sounds great! Which pair were you trading?? Cheers for sharing
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