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Nb 10.0 counter trading system

  • #141
  • Oct 6, 2011 10:16am Oct 6, 2011 10:16am
Quoting blazko
Bob: i think you can select what trades to show based on comment or magic number on myfxbook log (but im not 100% sure)
Great picture page. I will check FX out and see if it works for reporting trades.
  • #142
  • Edited 4:12pm Oct 6, 2011 4:10pm | Edited 4:12pm
Hey Bob,
Yes, a demo would be good, and just show maybe 1 or 2 pairs, and have all the EAs used available. I find it just too much to try to follow all of this. Thanks, Ken.
ps: And maybe give us the IP and read-only password so we can look at the details.
  • #143
  • Oct 6, 2011 4:42pm Oct 6, 2011 4:42pm
Quoting Kenz987
Hey Bob,
Yes, a demo would be good, and just show maybe 1 or 2 pairs, and have all the EAs used available. I find it just too much to try to follow all of this. Thanks, Ken.
ps: And maybe give us the IP and read-only password so we can look at the details.
Actually that is a good idea. Let me set up something and start on Monday. I can do just a 4H demo account that mirrors my live account. Then all of you can see what a really bad trader, I really am. LOL
  • #144
  • Oct 6, 2011 4:45pm Oct 6, 2011 4:45pm
Quoting blazko
Hello Bob,
i played with your new 4H EAs and got a weird trade recently - any ideas why this could happen?

http://img143.imageshack.us/img143/5...1006114821.png

The difference also may be due to the spread with your broker. With these flexible spreads you can get an interesting entrance once in a while. The thing that amazes me is the positions you got above the line with that EA. It really doesnt do that or it wasnt designed to do that. That is what the + - EAs are for.
  • #145
  • Oct 6, 2011 6:45pm Oct 6, 2011 6:45pm
Hi Bob,

Thanks for your wonderful sharing on all the trend, range and counter trades methods. I have been reading and testing your system for over 3 weeks. First, I was confused, but after re-reading the manuals/treads, I think I have some grasp on the concept. Then now, I come across this tread on H4 High/Low -/+10 EA. I became confused again.

May I know this HIGH LOW EA with the -+ is it for ranging pairs or just for counter trading? Also, I cant seem to find the manual for this HIGHLOW EA.

Case Study:

EURNZD: Observed D1 for trend direction and used Trend EA entered a BUY. Next couple of days, PA dropped into blue/red zones. So, I switch EA to do recovery. And as the Black Sto line is way below the lower zones, which suggest PA will go UP. <--(Is this true?)

Did I do the correct actions for this pair? What may be your options? Thanks Bob.
Attached Image (click to enlarge)
Click to Enlarge Name: eurnzd07102011.gif Size: 26 KB
  • #146
  • Oct 6, 2011 7:25pm Oct 6, 2011 7:25pm
Quoting Kelisa
Hi Bob,

Thanks for your wonderful sharing on all the trend, range and counter trades methods. I have been reading and testing your system for over 3 weeks. First, I was confused, but after re-reading the manuals/treads, I think I have some grasp on the concept. Then now, I come across this tread on H4 High/Low -/+10 EA. I became confused again.

May I know this HIGH LOW EA with the -+ is it for ranging pairs or just for counter trading? Also, I cant seem to find the manual for this HIGHLOW EA.

Case Study:

EURNZD: Observed D1 for trend...
IN trend trading you need to use SL or you can end up with a trade at the peak. You can see your trade is at the peak. You cant recover trades done at the peak. You may have one. In my trend trading thread I basically told people not to buy the EURO. It simply could fall apart or at least be badly damaged. I can understand the logic with NZD being down graded credit wise but that story has short legs. In other words it wont make the run last long. I would not do any buys on the EURO and would just take the hit and drop out on this one. All it takes is for someone in Europe to make a negative statement and that thing could drop a thousand pips quickly.

A fundamental thing you need to know about indicators. They basically are very useful until there is a dominating news story that can over ride them. In other words very strong fundamentals can destroy an indicator, basically makes them useless. We have that going on with the Euro now. It is in deep doo doo and will be fore quite a while. When ever it rallies look to sell but dont bother to buy. I have had this warning up in the trend section for quite a while now. Another one is the AUD. It is way overvalued and the Chinese economy is stalling. So no matter what an indicator may tell you right now the Fundamentals are way too strong for the Aud and Euro to trust buying either one with indicators. I will look only for sells on the AUD also. I would not touch the eur/aud for all the tea in China. The aud/nzd however will continue to range because those two are buddies.

The CHF is ugly also because of Swiss bank intervention. So stay with the safe bets right now Sell Euro, Sell Aud off of their rallies. This is very ugly trading territory right now.

Back to the eur/nzd, if you are an inexperienced trader do not trade it. Download my excel sheet on currency volatility and stay away from the high volatile pairs. The ones I have labeled 5 and 6 should just be put away for now. Hope this helps.
  • #147
  • Oct 6, 2011 7:32pm Oct 6, 2011 7:32pm
To help you in your trading skills I put a resistance area on the screen. If you see these you dont want to fight that point that has held for the last 6 months. The Euro has not been able to break that R line. So if you are thinking of buying into the trend wait for price to break up above that line next time. That is what we call a key R point.
Attached Image (click to enlarge)
Click to Enlarge Name: eur nzd.gif Size: 34 KB
  • #148
  • Oct 6, 2011 7:34pm Oct 6, 2011 7:34pm
In case anyone is wondering I have a sell high on the eur/nzd right now and if that doesnt take a trade i will put the IO Sell on that pair. But beware that pair can move 500+ pips in one day. If you are on the right side it is great but if you are not dang it is a recovery adventure.
  • #149
  • Oct 7, 2011 9:29am Oct 7, 2011 9:29am
Quoting nanningbob
IN trend trading you need to use SL or you can end up with a trade at the peak. You can see your trade is at the peak. You cant recover trades done at the peak. You may have one. In my trend trading thread I basically told people not to buy the EURO. It simply could fall apart or at least be badly damaged. I can understand the logic with NZD being down graded credit wise but that story has short legs. In other words it wont make the run last long. I would not do any buys on the EURO and would just take the hit and drop out on this one. All it takes...
Thanks for the explaination. Its sure does help alot. Yeah, will stay away fro these fundies sensitive currencies for now:AU USD CHF.
  • #150
  • Oct 7, 2011 9:35am Oct 7, 2011 9:35am
Quoting nanningbob
In case anyone is wondering I have a sell high on the eur/nzd right now and if that doesnt take a trade i will put the IO Sell on that pair. But beware that pair can move 500+ pips in one day. If you are on the right side it is great but if you are not dang it is a recovery adventure.
If IO Sell triggered, a SL will prevent opposite direction swing.
  • #151
  • Oct 7, 2011 9:38am Oct 7, 2011 9:38am
Quoting Kelisa
Thanks for the explaination. Its sure does help alot. Yeah, will stay away fro these fundies sensitive currencies for now:AU USD CHF.

It is OK to trade fundies if you are really certain you know where they are going. If they ever announce they have solved the crisis (even though they may not) the euro will bounce back up again. But as long as Greece keeps making the front page I wouldnt do any buys. I look to sell when I see a rally. The one exception would be the eur/aud and I wouldnt trade the eur/nzd. That is one wild pair. Go to my 10.0 Trend thread and look at the Excel sheet for currencies that are less volatile and trade those until you get a real feel of the trading system.
  • #152
  • Oct 8, 2011 4:09am Oct 8, 2011 4:09am
Quoting nanningbob
The difference also may be due to the spread with your broker.
I just setup demos on IBFX to match as closely as it get with your charts. Will see the results.

Regarding posting your trades - I also notices IBFX gives directs access to http://www.mt4i.com/ which might be an option to separate your live trades from demos.

Have a good weekend!
  • #153
  • Oct 8, 2011 4:41am Oct 8, 2011 4:41am
Quoting javajames
I like H4 to take my decisions for my trades and I learnt something,very clearly: you may trust Sto(14) and Macd....so I'll never short any market when Sto(14) is above Macd ....and that was the basis of past NB systems....I still stick to them.....
Thanks for your answer. I wonder if there would be a way to add a function to Bobs EA to filter some of those out. Any ideas?
  • #154
  • Oct 9, 2011 5:08am Oct 9, 2011 5:08am
I set up the demo account but I am too tired to figure out how to post the system so you can see it as a read only. Any thoughts would be appreciated.
  • #155
  • Oct 9, 2011 5:13am Oct 9, 2011 5:13am
Does anyone know how to fix the 6ths indicator so it will only show up on the 4H chart. Even though I click the 4H only in preferences it still shows on all charts.
  • #156
  • Oct 9, 2011 5:40am Oct 9, 2011 5:40am
Quoting nanningbob
I set up the demo account but I am too tired to figure out how to post the system so you can see it as a read only. Any thoughts would be appreciated.
Do you want hints for myfxbook? its preety easy once you register there.

go to portfolio -> add account. Click Add account in LR corner. Chose "
Try the new account addition wizard - adds your account in real time and updates it independently (beta)". Select MT4, input numbers and passwords, choose IBFX and then scroll down to IBFX-DEMO in server lists. Create.

Then go back to your portfolio (click add account). Choose the one you added and go to EDIT. On the bottom youll see privacy option. Set the desired to Public and you are done


Quoting nanningbob
Does anyone know how to fix the 6ths indicator so it will only show up on the 4H chart. Even though I click the 4H only in preferences it still shows on all charts.
cant help with that one
  • #157
  • Oct 9, 2011 9:15am Oct 9, 2011 9:15am
Quoting nanningbob
Does anyone know how to fix the 6ths indicator so it will only show up on the 4H chart. Even though I click the 4H only in preferences it still shows on all charts.
fixed, now you can select 4H only in visualization.
Attached File(s)
File Type: mq4 SIXTHS 10.0.mq4   4 KB | 309 downloads
  • #158
  • Oct 9, 2011 1:36pm Oct 9, 2011 1:36pm
Quoting apple3800
fixed, now you can select 4H only in visualization.
Just gave it a try and i still see lines on every TF (even if set inside properties to show only at H4).

EDIT:
sorry! My bad. Had an other sixth indie on. Works like a charm. Thanks!
  • #159
  • Oct 9, 2011 2:44pm Oct 9, 2011 2:44pm
Quoting apple3800
fixed, now you can select 4H only in visualization.
Thanks.
  • #160
  • Oct 18, 2011 7:12pm Oct 18, 2011 7:12pm
The EAs I posted have been doing a very good job pulling in pips on a steady basis. I will be doing two updates with them. One which I have already done is change the TP by a couple of pips. I was missing many TPs and taking away 3 pips makes them hit much more often. The second will be a filter for when the MA high/low dips down/up. It will stop trading until there is a retracement of some kind then it will reactivate the EA. This will stop it from trading as price moves away form the highs and getting in too early on retracements. I will post these modifications this weekend. I also am finding out reentering off of S/R BO on recovery trades is working out. This is what we are discussing in the trend thread. So if price is above a strong S/R line and you want a recovery waiting for a S/R cross is a good place to CT from also on recovery.

I am working on my recovery booklet. Got a lot of good material from the debate. Didnt change the philosophy but helped me in presenting it more clearly. MM is the key. The second thing I have learned is have a spot when you start using profits to slow down DD and that spot seems to be at 10 or 15%. Use 25-50% of a days profit to reduce the lot size of a recovery trade. For example if a trade is at 4 I can reduce to 3 or 2 then recovery becomes faster and quicker and DD moves slower against you. This keeps your equity curve going up but at a slower pace during DD periods but overall in time it is easier to manage. If it works properly then DD may never get to 20% which really further perfects the system.
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