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Nb 10.0 trend trading system

  • #881
  • Dec 25, 2011 11:35pm Dec 25, 2011 11:35pm
Scenario C:

As a rule of thumb, in this order:

1, Check D1 TF for trend directions.

2, Go down H4 or H1 your preference for more accurate placement of buy/sell orders. SL also can be check in this TF

3, Check RWB for even high probably trades. RWB is just for an indicator or direction strength/continuation. Never use RWB as primary indicator for trade.
  • #882
  • Dec 25, 2011 11:42pm Dec 25, 2011 11:42pm
Scenario D:

Current situation. Market thin due to holiday seasons.

Go down to H1 TF and place a SELL order.

If you consider the fundies, Euro is still weak.

The other option is, NO TRADES now.
  • #883
  • Dec 25, 2011 11:49pm Dec 25, 2011 11:49pm
Example:

As for this trade, I place a Sell before the Blue crosses the Red.

Yeah...its not recommended to make this risky move.

Plus, I am also trying out this strategy. I look at the RWB, all 3 lines together at over 90%, and on main chart, BLUE is closing in. I expected this to be a good swing so I short it on 23rd dec.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy 2312.gif Size: 31 KB
  • #884
  • Dec 25, 2011 11:57pm Dec 25, 2011 11:57pm
MACD Red line:

Using D1 tf.

Usually currencies will trend few days to weeks if not. You can observe this looking at the MACD redline. It will swing up and down, occillating.

example: if MACD is high above about to curve down, wait for main chart's Blue line to cross below RED to short.

This method/strategy of trading gives me a lot of peace and confidence.

Some trades are negative, but I I can laugh about it and close them coz there are more positive trades than negative ones.
  • #885
  • Dec 26, 2011 8:41pm Dec 26, 2011 8:41pm
Hi Kelisa,

Thank you so much for your comprehensive reply. I noticed that your H1 and H4 chart is different from mine (please see attachment), which profile/indicator do you use? It seems that you're using the indicators for daily into lower TF. The manuals don't mention anything about this, is this your own interpretation/take of the system?

As for the stop loss, you weren't very clear. Am I suppose to take 100 pips SL? Is that a hard/fixed SL or is it based on yesterday's low/high?

Cheers..
BC
  • #886
  • Dec 26, 2011 9:07pm Dec 26, 2011 9:07pm
Quoting blackcat2
Hi Kelisa,

Thank you so much for your comprehensive reply. I noticed that your H1 and H4 chart is different from mine (please see attachment), which profile/indicator do you use? It seems that you're using the indicators for daily into lower TF. The manuals don't mention anything about this, is this your own interpretation/take of the system?

As for the stop loss, you weren't very clear. Am I suppose to take 100 pips SL? Is that a hard/fixed SL or is it based on yesterday's low/high?

Cheers..
BC
Yeah...I use one template for my charts: Daily and I look down into lower tf. I might be wrong but pls allow NB to verify this too.

SL is based on yesterday's HL or the Red color dots H4-SR lines.
  • #887
  • Dec 28, 2011 6:44am Dec 28, 2011 6:44am
GbpJpy --
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy2812.gif Size: 26 KB
  • #888
  • Dec 28, 2011 6:46am Dec 28, 2011 6:46am
EurJpy --
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpy2812.gif Size: 24 KB
  • #889
  • Dec 28, 2011 6:48am Dec 28, 2011 6:48am
UsdJpy --
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy2812.gif Size: 27 KB
  • #890
  • Dec 28, 2011 8:28pm Dec 28, 2011 8:28pm
HI kelisa ,

i am new to BOB system. I am confuse by your trades on GBPJYP and UJ . Its seem that the daily should be look to buy rather than to sell as the blue MA is above the Red.(Accordint to GMT 0000 Chart)

The reasons for your trades might be that u decide to follow on lower time frame MAs trend signal and places trade on H4 supports.

OR u seem that the trend on the daily is RAnging thus u pending BO trades.

Hope you can guide me along on your trades u post with your snapshots

Cheers
  • #891
  • Dec 28, 2011 11:13pm Dec 28, 2011 11:13pm
Guys,

do you know why (sometimes) my D1 R or D1 S lines are drawn on different levels on D1 and H4 time frames?

For example:
GBPCAD at the moment on D1 tf:

R1=1.58157
R2=1.59199

and on the H4 tf:

R1=1.60585
R2=1.60796
  • #892
  • Dec 29, 2011 7:15am Dec 29, 2011 7:15am
Quoting thevenin
Guys,

do you know why (sometimes) my D1 R or D1 S lines are drawn on different levels on D1 and H4 time frames?

For example:
GBPCAD at the moment on D1 tf:

R1=1.58157
R2=1.59199

and on the H4 tf:

R1=1.60585
R2=1.60796
I am not in town to check this out but I will submit a wild guess. Do you have the 4H lines on also. In other words the 4H lines might take the place of some of the Daily lines so they move to the next nearest ones.

My second is guess is the bars back in the program. If it is set for 60 then for the daily that would be 60 days back but on the 4H it would be 60 4H candles back or 10 days instead of 60 daus. This would then give you different readings. Anyways those would be my best two guesses.
  • #893
  • Dec 29, 2011 7:34am Dec 29, 2011 7:34am
Quoting blackcat2
Hi NanningBob,

Thanks for the quick reply, it's getting clearer for me now. If it's ok, I have attached a screenshot from EUR/USD daily chart and I would to ask questions based on scenarios that I have highlighted in the picture..

- Scenario A (red circle/line). Based on the rules, in this scenario I would have gone long which would be an "oops" trade. Taking a loss is not an issue but the manuals doesn't mention about when and where we would need to take a loss. Could you please clarify on this? Is a fixed 100 pips SL or placed the SL below/higher...
I am going to answer you letter in several posts so bear with me.

Where we would need to take a loss. Could you please clarify on this?

Placing SL is very discretionary. It has a lot to do with Lot Size and risk and also how you trade. Trades taken off of the daily chart should have more room to them than ones trading off of the 1H chart. I use small lot sizes and very big SL. Right now on the EURO I basically am not using stop losses. That thing will go down until Europe gets some kind of permanent answer to their problem. Right now they just keep kicking the can down the road so no matter what retracements happen it will continue its downslope. BUT I also trade small so I can do that. If you trade large lots then you will want to use smaller stops. Risk to reward ratios become more important to you. I tell folks there are 4 places for stops then depending on your risk and how you trade. The 8MA line, the 2MA line, previous swing highs/lows, or previous S/R lines. You need to choose based on where you are entering and how much you are risking.

I dont know if I will ever write a booklet on the subject but I am working on a new philosophy of SL. I use percentage of my account and percentage of lots instead of fixed SL positions. This is working very well for me but it is also complicated and I dont know if I should have thread for it. It maybe too confusing and not many will get it. Anyway choose your poison but have a rational reason why you chose the positions.
  • #894
  • Dec 29, 2011 7:40am Dec 29, 2011 7:40am
The manuals (10.1 A,B,C,D) don't mention on how to read/interpret the oscillators (stochastic + MACD). However, stochastic has this well known behavior of staying in the OB/OS territory when a trend is going strong, does it mean that we won't be trading when that happens?

That indicator works best on a 4H chart and I ignore it on the daily. I have posted how to use it someplace but I dont remember where at this point. I can post it sometime again after I return home from my trip. 10.0 series is not dependent on reads from that indicator but there are guys, like me, who have been using it for years and know its nuances.
  • #895
  • Dec 29, 2011 7:45am Dec 29, 2011 7:45am
All the other trade issues should be solved by using the 10.1 trading system. If you place your buy or sell orders on the other side of the S/R lines you should avoid most bad entrances and you should get in if price keeps moving in the trend. This then solves the problem of waiting for the candle to complete before taking a trade in the 10.0 system. Once price is going in a direction you just keep trading the next S/R line in the 10.1 system until it no longer crosses the line. Then you are not in, at least most of the time.
  • #896
  • Dec 29, 2011 7:48am Dec 29, 2011 7:48am
Just an added note. If you are using 10.1 for recovery, you would then use the nearest S/R line below the blue line if you want a recovery sell and you would use the nearest S/R line above the blue line on buys. This really works in keeping you out of some peeker trades. Those of you that dont know recovery trades just ignore this part.
  • #897
  • Dec 29, 2011 7:51am Dec 29, 2011 7:51am
Quoting Kelisa
GbpJpy --
Nice trades Kelisa, things of beauty are they not??
  • #898
  • Dec 30, 2011 2:37am Dec 30, 2011 2:37am
Hi

Thanks for all your hard work and generosity Bob in thinking up and sharing your systems and to Squalou for a very good indicator.

As I'm getting a bit old in the tooth and unable to remember as much as I used to, I have added a screen reminder to the indicator stating the S/R Days Back setting. Thought I would add it here in case anyone might like it.

Regards

AlanJ
Attached File(s)
File Type: mq4 10.1 Daily S&R DailyX.mq4   11 KB | 389 downloads
  • #899
  • Edited 6:09am Jan 2, 2012 5:07am | Edited 6:09am
Quoting nanningbob
The manuals (10.1 A,B,C,D) don't mention on how to read/interpret the oscillators (stochastic + MACD). However, stochastic has this well known behavior of staying in the OB/OS territory when a trend is going strong, does it mean that we won't be trading when that happens?

[font=Verdana][color=black]That indicator works best on a 4H chart and I ignore it on the daily. I have posted how to use it someplace but I dont remember where at this point. I can post it sometime again after I return home from my trip....
hi, Bob, I'm looking forward this too. I often get big loss at retracement.
I believe you are a great teacher.

regards
  • #900
  • Jan 2, 2012 3:21pm Jan 2, 2012 3:21pm
This may be what you are looking for.
Attached File(s)
File Type: doc RWB short manual 2003.doc   175 KB | 635 downloads
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