Nb 10.0 trend trading system | Page 49 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

HYBRID: trading system within a trading system 31 replies

Trend Manager Trading System 153 replies

Is Grid Trading (combined trend following and counter trend) Profitable? 3 replies

trading system opposite to trend 1 reply

hksweeper's Trading Journal - Reaction Trend System 20 replies

Attachments: Nb 10.0 trend trading system
Exit Attachments

Nb 10.0 trend trading system

  • #961
  • Jan 10, 2012 7:52pm Jan 10, 2012 7:52pm
Quoting nanningbob
jpy/usd has been ranging very tightly in a 200 pip range for about 1/2 year now except for the two bank interventions. I am only range trading it for now. If it breaks out to the south I suspect the BOJ to shore it back up again. The BOJ doesnt want its currency to appreciate very much and compared to other currencies there is not much pressure to depreciate it so it is ranging very tightly. Bollinger bands or some kind of range trading system would work great on it right now. Take the daily chart and zoom it to include the last year and you will...
Thanks Bob! I have not been paying any attn for the last 6 months
  • #962
  • Jan 10, 2012 9:21pm Jan 10, 2012 9:21pm
Quoting Radio
Thanks Bob! I have not been paying any attn for the last 6 months
It is so GOOOOOOD to see you around again. I hope you and your family are well. BOB has created the ultimate system here and we are quietly making pips.

I am trading this system in H4 so I am not too worried if central banks intervention. If it happens I take my losses and make them back in a few days time.

Kind regards
  • #963
  • Jan 10, 2012 10:08pm Jan 10, 2012 10:08pm
Here is a very important rule concerning trading. If you know the fundamental driving the currency, follow the fundamental. If you cant find one trade the indicators. When you know both, make a lot of money.
  • #964
  • Jan 10, 2012 10:20pm Jan 10, 2012 10:20pm
I have noticed that 4H lines are not all that trustworthy. I am testing 6 daily lines set 600 days back and 4 weekly lines set 60 weeks back. Those lines look good if they arent too bunched together. They also give you plenty of lines along with using the open. If the screen gets crowded with some pairs you can reduce the # of lines or bars back.
  • #965
  • Jan 10, 2012 11:10pm Jan 10, 2012 11:10pm
Looking at EUR/nzd just broke a weekly line.
eur/usd just above a daily S line.
eur/jpy and eur/gbp hang just above the weekly open line.

If they go south again it looks good
  • #966
  • Jan 11, 2012 5:16am Jan 11, 2012 5:16am
Quoting nanningbob
Here is a very important rule concerning trading. If you know the fundamental driving the currency, follow the fundamental. If you cant find one trade the indicators. When you know both, make a lot of money.
I like this one..
  • #967
  • Jan 11, 2012 5:45am Jan 11, 2012 5:45am
Quoting nanningbob
Here is a very important rule concerning trading. If you know the fundamental driving the currency, follow the fundamental. If you cant find one trade the indicators. When you know both, make a lot of money.
SORRY BOB, did not mean to confuse people here. The point I was trying to make to RADIO was mainly directed at him, as you know he has been away for quite a long time and he may still be practicing recovery trades rather than set SL. As you know in recovery trades knowledge of fundamentals was essential since an intervention would have been classified as a super news and could set us back hundreds or even 1000 pips. In 10.1 TREND TRADING, IMHO you have quite rightly advised against ML recovery and told us to use fixed SL.

Although I am using H4 charts to trade I do use the daily S/R lines.

Regards
  • #968
  • Jan 11, 2012 7:04am Jan 11, 2012 7:04am
Quoting astral77
SORRY BOB, did not mean to confuse people here. The point I was trying to make to RADIO was mainly directed at him, as you know he has been away for quite a long time and he may still be practicing recovery trades rather than set SL. As you know in recovery trades knowledge of fundamentals was essential since an intervention would have been classified as a super news and could set us back hundreds or even 1000 pips. In 10.1 TREND TRADING, IMHO you have quite rightly advised against ML recovery and told us to use fixed SL.

Although I am using H4...
Of course. What makes not using a SL in trend trading is you may enter a trade at the tip of a run and then try to survive the entire reversal. Very difficult to do. In Counter trading we were entering at price exhaustion and if we were wrong price still did not have that far to run anymore. I am trying something new in recovery. Never increase your lot size but reduce the negative trade at certain points. So if it is down to .01 lot at 1000 pips it is so small it is easy to dispose of. This keeps the DD from building up. Having a hard time trying to communicate the concept though. Even in these volatile times DD is kept lower than 12% that way. So instead of increasing your lot size in reentering, you decrease the lot size of the deficit trade. The counter trade then is easier to manage.

Already up 600 pips for the week. Almost 1/2 of that is striking gold with the gbp/nzd. Missed the nzd/chf one though.
  • #969
  • Jan 11, 2012 7:36am Jan 11, 2012 7:36am
Quoting nanningbob
Already up 600 pips for the week. Almost 1/2 of that is striking gold with the gbp/nzd. Missed the nzd/chf one though.
Bob would you mind attaching some screenshots of this week's trades (closed) of yours? It would be very helpful in learning process of the system.

Regards.
  • #970
  • Jan 11, 2012 8:38am Jan 11, 2012 8:38am
This is the gbp/nzd which I have hit big this week. I put arrows where it broke a S line every day. Very volatile pair but if you catch it, it can run into the hundreds of pips. I put arrows over the 3 days I got it. You can see it just broke another S line so I am in again.
Attached Image (click to enlarge)
Click to Enlarge Name: gbp nzd.gif Size: 26 KB
  • #971
  • Jan 11, 2012 8:46am Jan 11, 2012 8:46am
In the previous pic the gbp/nzd has moved over 400 pips the last 3 days and I have managed to get almost 300 of them. This pic is an upcoming trade for the gbp/jpy. If it breaks this S line I am expecting it to go down to the blue Weekly S line. That is the plan anyway. The second pic is the eur/usd, ready to sink some more.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbp jpy.gif Size: 30 KB
Click to Enlarge Name: eur usd.gif Size: 23 KB
  • #972
  • Jan 11, 2012 8:56am Jan 11, 2012 8:56am
Quoting nanningbob
In the previous pic the gbp/nzd has moved over 400 pips the last 3 days and I have managed to get almost 300 of them. This pic is an upcoming trade for the gbp/jpy. If it breaks this S line I am expecting it to go down to the blue Weekly S line. That is the plan anyway. The second pic is the eur/usd, ready to sink some more.
Thanks Bob, I am also watching these two.

I can see some discrepancy between GBP/NZD chart of mine and yours.
Did you adjust the indicator settings? I have only 2 resistance lines on D1 chart and we can see 6 R lines on yours.

thevenin.
  • #973
  • Jan 11, 2012 9:06am Jan 11, 2012 9:06am
Quoting nanningbob
This is the gbp/nzd which I have hit big this week. I put arrows where it broke a S line every day. Very volatile pair but if you catch it, it can run into the hundreds of pips. I put arrows over the 3 days I got it. You can see it just broke another S line so I am in again.

Bob,

On a trade such as GBPNZD are you in/out at every line or are you compounding the trades.

Brian
  • #974
  • Jan 11, 2012 9:17am Jan 11, 2012 9:17am
Have been trading this pair well all day. Some nice moves.
Will post charts asap.
  • #975
  • Jan 11, 2012 10:13am Jan 11, 2012 10:13am
Hi Bob,

Are you drawing in the weekly S/R lines by hand or?
  • #976
  • Jan 11, 2012 12:39pm Jan 11, 2012 12:39pm
EU on a W1 TF - I see some demand area between the 2 yellow lines, but of course, fundies may override it anytime.
Attached Image (click to enlarge)
Click to Enlarge Name: eu w1 buy zone.gif Size: 28 KB
  • #977
  • Jan 11, 2012 2:04pm Jan 11, 2012 2:04pm
I traded Cable today but putting a stop sell under the blue MA last night and was filled. The beauty of this system is that you don't always need to wait for reversal price action. The break of that MA was with trend and gave rise to a profitable day. Also, it allows for tighter stops as some days' price movement is quite small.

Great method Bob. How are you finding those weekly levels? On demo I have pretty much ignored the H4 levels and just traded with trend under either the MAs or the D1 levels. The manually drawn weekly levels act like magnets too. As each one is breached price will often meander its way down to the next one.

Have we decided on an ideal look back number for most D1 lines yet? Too far back and they become meaningless and too close means they cluster too close and don't offer rewarding targets.

Has anyone managed to modify the Squalou indy to offer weekly levels? I would like to trade his indy but only using D1 and W1 levels; currently the highest we can go is D1.
Trade less and become more profitable!
  • #978
  • Jan 11, 2012 3:19pm Jan 11, 2012 3:19pm
Quoting nanningbob
Here is a very important rule concerning trading. If you know the fundamental driving the currency, follow the fundamental. If you cant find one trade the indicators. When you know both, make a lot of money.
I love it!
Writer, currency trader, madman
  • #979
  • Jan 11, 2012 4:08pm Jan 11, 2012 4:08pm
Quoting thevenin
Thanks Bob, I am also watching these two.

I can see some discrepancy between GBP/NZD chart of mine and yours.
Did you adjust the indicator settings? I have only 2 resistance lines on D1 chart and we can see 6 R lines on yours.

thevenin.
Because some of these currencies are hitting lows and highs that go back over a year or more I have increased the number of lines trying to find S/R levels. I increased my number to do that. As soon as these currencies find their new range area then I will go back to the two lines. I think on the euro currencies I am going back 600 days on the daily and 300 on the weekly trying to find some S/R levels to trade off of. I hope Europe can solve some of their problems even though I am doing very well off of it. But long term economic terms this is not good. So yes I do add lines and days to the indicator trying to find levels.
  • #980
  • Jan 11, 2012 4:12pm Jan 11, 2012 4:12pm
Quoting flyer415
Bob,

On a trade such as GBPNZD are you in/out at every line or are you compounding the trades.

Brian
I am in and out at each line or the next line. The last thing I ever want to do is lose a 100+ pip profit. I would rather give up some pips banking it and reloading at the next S line than have it retrace and lose it. 139 pip close this morning, (evening USA time) look for a retracement and see if I can get another good entrance sometime around the Euro or USA open. Generally gbp/nzd wont do much during the JPY session, both markets are closed or done for the day.
1 trader viewing now