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Nb 10.0 range trading system

  • #341
  • Nov 25, 2011 6:03am Nov 25, 2011 6:03am
Quoting gustav213
If you are going to be running with 4k euros on your account definitely under .5 more like a nickel if I was you, since you don't know the system well and will loose money.

A smarter thing I think would be to just used a 1k account and trade pennies until you get the hang of the system and focus on how many pips you can average a month. Forget about how much money you make for now and concentrate on pips.

Once you average a certain amount of pips week after week and month after month, it is all about increasing lot sizes.

What broker...
I would like to add to Gustav answer. I look at percentage of account increase. If you can consistently hit 5-10% a month you are in the professional trader field. Too many people get the idea that this is an easy million. It is not. I know there are people who do better but they are a rare lot. So trade small and learn. It goes like this, if you trade one penny on a 1000 dollar account you would have to lose 100,000 pips to lose all your money. If you do that you know that Forex trading is not for you. If you trade 10 cents you would have to lose 10,000 pips to lose all your money. If you trade 1.00 lots you would have to lose 1000 pips to lose all your money. 1000 pips loss is easy to do. 10,000 pips I think is much harder to do. 100,000 pips, never heard of anyone doing that. My question is this. How much tuition are you willing to pay to learn this business. If you are a rookie, losing a 1000 pips in one month, heck in one week is very doable. Do you want to pay 10.00 dollars, 100.00 dollars or 1,000.00 dollars in tuition???? The choice is yours.
  • #342
  • Nov 25, 2011 8:13am Nov 25, 2011 8:13am
Ok, so I should start with the lowest lot (0.1 on ECN). Thats almost 4000 pip move.

I need an advice with entry and exit points. So Nanningbob, I would like to start the trend trading system. When do you open position for sell if its out from ranging on daily chart or during raging? If there is a new candle after the ranging one and under blue and red lines? If its already trending under R1 line -X pips?

End when do you take profit? S1 line plus/minus some pips?

What should be the SL? The blue line? Or red? Or you dont stop with loss, you just start to trade on the other trend and wait days/months until it goes back?

I know you already made instructions but i want to know if something isnt clear for me.
  • #343
  • Nov 25, 2011 8:32am Nov 25, 2011 8:32am
Quoting Shady313
Ok, so I should start with the lowest lot (0.1 on ECN). Thats almost 4000 pip move.

I need an advice with entry and exit points. So Nanningbob, I would like to start the trend trading system. When do you open position for sell if its out from ranging on daily chart or during raging? If there is a new candle after the ranging one and under blue and red lines? If its already trending under R1 line -X pips?

End when do you take profit? S1 line plus/minus some pips?

What should be the SL? The blue line? Or red? Or you dont stop with loss,...
This is a range trading thread. You should post your question at the 10.0 trend section. you will get more help there.
  • #344
  • Nov 28, 2011 8:57am Nov 28, 2011 8:57am
Shady,

After reading the past few pages of your post, I see that you are too eager and impatient to trade. Typical of many traders, including myself. I was once an impatient trader who thinks I know how to scalp but end up wiping out 2 live accounts eventhough my max lot size was 2 lots only.

In summary, I guess its better you FULLY understand how NB10.1 works: Daily SR, H4 SR and over market sentiments. Look at Daily for DT or UT but market sentiments prevails. Then, go down to H4 or H1 to make a more precise entry. An entry means on a retracement and not chase the PA.

Practice a demo account too until you can constantly make +pips. Then only you can pull the trigger on the live account.

Believe me, it pays to be patient. imo
  • #345
  • Nov 28, 2011 8:58am Nov 28, 2011 8:58am
plus: stick to 1 or 2 only trading strategies, otherwise you will be strategies hopping and lose yourself. regards.
  • #346
  • Nov 28, 2011 5:55pm Nov 28, 2011 5:55pm
Quoting Kelisa
Shady,

After reading the past few pages of your post, I see that you are too eager and impatient to trade. Typical of many traders, including myself. I was once an impatient trader who thinks I know how to scalp but end up wiping out 2 live accounts eventhough my max lot size was 2 lots only.

In summary, I guess its better you FULLY understand how NB10.1 works: Daily SR, H4 SR and over market sentiments. Look at Daily for DT or UT but market sentiments prevails. Then, go down to H4 or H1 to make a more precise entry. An entry means on a retracement...
Good advice, also trade lot sizes that you can go to bed and sleep and not worry about it wiping your account on a big move. I shoot for 10% a month, I have found out if I try for more I end up in doo doo land. This may surprise you but I only trade one penny per 500 dollars in my account. That is very safe and would take 50,000 pips in losses to wipe out, yet I can make 10% almost every month. Learn this one lesson and you can become a successful trader. Once you get experience you can go for the occasional home run but it seems the smaller I trade the more money I make. LOL if that makes any sense to you. I can outlast any market move and countertrade it back to 0 loss. That keeps my equity curve constantly going up. Took me years to learn that lesson. Doesnt mean it is for everyone but I am totally relaxed if something goes wrong. For example, my computer went out yesterday at home and didnt know how my trades were going until today when I came to work. Had a bunch of nice profits, however, if everything had gone against me my account was in no danger. That is how I live in this Forex jungle.
  • #347
  • Nov 28, 2011 6:44pm Nov 28, 2011 6:44pm
Quoting nanningbob
Good advice, also trade lot sizes that you can go to bed and sleep and not worry about it wiping your account on a big move. I shoot for 10% a month, I have found out if I try for more I end up in doo doo land. This may surprise you but I only trade one penny per 500 dollars in my account. That is very safe and would take 50,000 pips in losses to wipe out, yet I can make 10% almost every month. Learn this one lesson and you can become a successful trader. Once you get experience you can go for the occasional home run but it seems the smaller I trade...
Couldn't have said it better, over Thanksgiving here in the U.S. I forgot to close my trades before leaving home and my remote connect wasn't working so I was unable to close any trades from last week until Monday. But since my lots sizes werent too big for my account I wasnt worried yeah I had one losing trade but the other trades where in profit and made up for the one loss.

The main point is if the lot size doesnt let you rest at night it is way too big.
  • #348
  • Dec 29, 2011 5:59am Dec 29, 2011 5:59am
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 the following thread using ForexFactory "Trade Explorer":
http://www.forexfactory.com/showthread.php?t=313080

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
  • #349
  • Dec 29, 2011 9:20am Dec 29, 2011 9:20am
Quoting yaniv_av
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 the following thread using ForexFactory "Trade Explorer":
http://www.forexfactory.com/showthread.php?t=313080

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
It is common for some currencies to open the year with a run. I would give it a couple of days to let the market settle into the new year before starting up. I usually restart trading the 2nd week unless there is a big news story and I know where the market is heading.
  • #350
  • Jan 19, 2012 5:06pm Jan 19, 2012 5:06pm
I did download your last version 10.0 and all the files from 1 to complete ... What is your best advice, which is the best for me option to follow as a newbie to your EA ,and do I disregard the previous versions from 5.2 is the 10 evolution I guess from 5.2 .Ok please advice me what to use from your 10.0 version which will be the best and profitable option .... Kind Regards SASO
  • #351
  • Jan 19, 2012 7:50pm Jan 19, 2012 7:50pm
Quoting Saso_oh
I did download your last version 10.0 and all the files from 1 to complete ... What is your best advice, which is the best for me option to follow as a newbie to your EA ,and do I disregard the previous versions from 5.2 is the 10 evolution I guess from 5.2 .Ok please advice me what to use from your 10.0 version which will be the best and profitable option .... Kind Regards SASO
Because of the Euro strong news the markets are very volatile right now. But using his on the usd/jpy, aud/nzd would not be a bad idea. They are ranging very well right now.
  • #352
  • Jan 19, 2012 8:36pm Jan 19, 2012 8:36pm
Quoting nanningbob
Because of the Euro strong news the markets are very volatile right now. But using his on the usd/jpy, aud/nzd would not be a bad idea. They are ranging very well right now.

Nani please if you can help me with your 10.0 version how to use at the best option , or I have to study the manual bit longer !! Thanks for the pairs recomendation .. but I need to know which one of your 10.0 version you use the most and is it profitable . I need bit of direction to the exact point if you can help Kind Regards ... saso
  • #353
  • Jan 19, 2012 10:20pm Jan 19, 2012 10:20pm
Quoting Saso_oh
Nani please if you can help me with your 10.0 version how to use at the best option , or I have to study the manual bit longer !! Thanks for the pairs recomendation .. but I need to know which one of your 10.0 version you use the most and is it profitable . I need bit of direction to the exact point if you can help Kind Regards ... saso
Because the markets have been very volatile 10.1 has been doing the best. It is an update of the 10.0 trend trading. I will probably start range trading again next week and pick my pairs that I will trade.
  • #354
  • Edited Jan 22, 2012 1:24am Jan 21, 2012 7:00am | Edited Jan 22, 2012 1:24am
think i found what im lookin for..great thread!
  • #355
  • Feb 5, 2012 10:24am Feb 5, 2012 10:24am
From my post back in November about the effectiveness of the EUR/GBP, I have completed 2 months of testing with the pair. Two areas I incorporated on somewhat of a manual basis was trying to enter closer to S/R levels and using ATR (average true range). So, if I was on the computer and the pair was breaking the band, I would turn off the EA and let it run to the S/R level or the majority of its ATR, then would turn on the EA for entry. I could not execute this every time, but a fair number of trades I was able to manipulate for better entry.

From the results, 35 trades were taken and none needed recovery. This was one area I was curious about - can the pair range in the trending time as it did in the summer time? There were 6 losses (5 of them were buys) which is 83% winning %. You will notice in month 1, both buys and sells were taken. For month 2, I only took sell orders. The second month was much more effective due to the fundamental state of the EUR. So, from the testing, I feel positive about moving on to try and optimize the EA a bit more and run this all year long.

For the next testing period, I have adjusted the EA to try and simulate the entries I was doing manually, which looked more optimized than the current 1H CTR. Here are the parameters for the entry:

- 3MA is above/below BB
- Price has moved back below/above BB
- Daily ATR is at 75% or more of ATR 14.

We might find the ATR criteria will restrict our entries too much, but it does provide good protection for those times when the bands are tight, then price moves, such as Monday morning, London Time. We might need to adjust down a bit on the 75% number.

For the exit, I am going to start with a 30 Pip TP. If we are optimizing the entry based on the full range, hopefully we can achieve above 60%+ of the range for TP. The ATR has been running about 55 Pips. Again, I will be adjusting the TP manually when needed around S/R lines.

Here is the link to the myFXBook account for details. I have been messing with a few other things on the account, but you can see EURGBP trade results.

https://www.myfxbook.com/portfolio/1...1h-demo/195168

George
Attached File(s)
File Type: pdf EURGBP Test 2-5-12.pdf   95 KB | 547 downloads
  • #356
  • Feb 5, 2012 4:32pm Feb 5, 2012 4:32pm
Hello George ,

Can you tell me what system do you use your self .Is it the 10.1 version from nanningbob described here in his posts ....which he described here in his posts.If so how do you set up your paremeters and do you trade at manualy or both auto/manualy .Or perhaps you do not use his 10.1 version.

Kind Regards,
saso
  • #357
  • Feb 5, 2012 5:02pm Feb 5, 2012 5:02pm
Hi there ,
Do I put both in the indicators folder only . Or one goes in there and the other in the experts folder. Please assist me with this : .ex4 and .mq4 those 2 files . And than I use them on 4H OR 1H charts or on Daily charts .I will appreciate your input . Also I follow up you screen charts from a to m .. to be able to understand this version how it works .... I guess this version works manually to be there present on the charts to execute trades !!
Kind Regards ,
saso
  • #358
  • Feb 6, 2012 3:01am Feb 6, 2012 3:01am
Quoting Saso_oh
Hello George ,

Can you tell me what system do you use your self .Is it the 10.1 version from nanningbob described here in his posts ....which he described here in his posts.If so how do you set up your paremeters and do you trade at manualy or both auto/manualy .Or perhaps you do not use his 10.1 version.

Kind Regards,
saso
Saso, the above results were generated with Bob's 10.0 1H CTR Both EA, which is located in the 10.0 Trend Thread, Page 1. The only settings I changed was to only take short trades in month 2 of the test and the lot size. I trade it both auto and manual. The entry is auto, however I do adjust my TP based on SR levels. Also, this EA will exit on the other side of the BB and at times I will remove it to avoid that function.

I am testing a slightly different version with an ATR function included as I discussed above. I tried to simulate those manually on some trades during the testing. We will see if it will be more effective on entry or not.

Hope that helps.

George
  • #359
  • Feb 6, 2012 3:47am Feb 6, 2012 3:47am
Hi George,
If you dont mind because you are advanced on this so much than me , if you can printscreen the charts , and also the printscreen of the 10.0 1H CTR Both EA parmeters set up and email them to me !!! My email is [email protected] Would like to see and compare them with my set up .
I will very much appreciate that effort from you if you can do that for me !!
Kind Regards ,
saso
  • #360
  • Feb 13, 2012 6:07pm Feb 13, 2012 6:07pm
Quoting Saso_oh
Hi George,
If you dont mind because you are advanced on this so much than me , if you can printscreen the charts , and also the printscreen of the 10.0 1H CTR Both EA parmeters set up and email them to me !!! My email is [email protected] Would like to see and compare them with my set up .
I will very much appreciate that effort from you if you can do that for me !!
Kind Regards ,
saso
Sorry to take a few days to get back with you. I will send the preset file, which shows the parameters of the results generated from the testing. The only criteria I changed was lot size and on the common tab, just setting short position only for month 2. Enclosed is a screen shot of a recent entry with the system and it shows exactly how it enters. As I mentioned during my testing I would manually let these types of entries run further in the range before turning on the EA, when I was in front of the computer. I am currently testing a modified version which uses ATR so entries are taken closer to the day range vs. the enclosed example.

Best of Trading to you.

George
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