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Nb 10.0 trend trading system

  • #1,121
  • Feb 7, 2012 8:40pm Feb 7, 2012 8:40pm
Nanningbob, this looks like a great system! I have only just begun to test it now. That said, do we need to make use of the stochastics and the MACD for your system? The instructions I downloaded did not specify that. I am just using the MA crosses and the S/R levels and trading off the daily charts as I believe the signals will be more accurate than on the 4HR chart.
  • #1,122
  • Edited 1:09am Feb 8, 2012 12:59am | Edited 1:09am
Quoting effluvium
Really sorry with such basic concern, but I'm confused after unzipping all files from the post 1 listing all the versions of these EAs.

So I read the install manual, which I could not understand well which version we have to keep, especially with 3 different TFs.

After unzipping all files of post 1 I found 17 files in experts folder and I guess some of them are outdated.

Could someone here pinpoint exactly which file is unnecessary (EAs + Indy) and good to remove : Below a snapshot of the contents of my experts...
Try reading the booklet. Page 1 post 1 ................ But 1H EA goes with 1H templates, 4H EA with 4H templates, 1D EA goes with daily templates. Gives you options of which charts you prefer to trade and TF. Also some are used with trend trading, some with counter trading, and some with range trading. Each type has its own trading strategy and thread.
  • #1,123
  • Feb 8, 2012 1:06am Feb 8, 2012 1:06am
Quoting liggy002
Nanningbob, this looks like a great system! I have only just begun to test it now. That said, do we need to make use of the stochastics and the MACD for your system? The instructions I downloaded did not specify that. I am just using the MA crosses and the S/R levels and trading off the daily charts as I believe the signals will be more accurate than on the 4HR chart.
10.0 does not necessarily use Macd/Sto but I use it all the time. I have used it for years and get reads off of it but you can trade with out it. Basic reads are if they bunch together above/below 10/90 lines price is in a reversal area unless strong fundamentals are in play. Blue above red up trend, blue below read down trend, entrance areas are when white/black crosses blue, exit is when they are on the opposite side. You have other reads like when blue and black/white are far apart market is flat or look out for whip lash, when close together moving in the same direction trending strongly. You can also get divergence/convergence reads if you know what those are. Those are the basics. Fundamental idea behind it was Sto lines react too quickly, MACD reacts too slowly, mix them together works pretty good.
  • #1,124
  • Feb 8, 2012 9:51am Feb 8, 2012 9:51am
Quoting rattyo
Yes Squalou if you could change this indicator for weeks back resistance that could be very handy

Thankyou..
Here is a version with Weekly levels;

Sq
Attached File(s)
File Type: mq4 10.1DailySR1.mq4   10 KB | 760 downloads
  • #1,125
  • Feb 8, 2012 10:08am Feb 8, 2012 10:08am
Quoting squalou
Here is a version with Weekly levels;
Thank you very much master Squalou.

Your job is great.
Trade with discipline and respect the market...
  • #1,126
  • Feb 8, 2012 10:48am Feb 8, 2012 10:48am
The system seems very good nanningbob,you have done a great job.I find some things unclear though.
1)Do you use the weekly timeframe to spot trade entries on D1 or H4 timeframe?
2)How exactly do you enter the trade?If it brakes you enter or wait to brake,then retrace and then enter?I read a post of someone who entered before the brake.Have you used this method at all?
3)I havent used the MACD-Stoch indic in my trades yet.And i see tha u use them in many ways.Their use seems quite subjective to me so far by your posts.For example in one of your posts you said that you dont care if a resistance line is broken and the stoch is in overbought area.You would still take the trade in D1 timeframe.I think that it needs to be made clear in what MACD-stoch setup you wouldnt take a trade(because if i have understood well,their use is for confirmation only and not as an entrance signal,right?).
4)The most unclear thing to me in 10.1 system is how you manage your trade after the entry.I understood that your take profit targets are just before the next res/supp line but sometimes the next one is far away or there isnt one(i.e:the eur/aud new all time low).I got confused in some of your posts because you used h4 crt ea but i thought we didnt use any EAs in 10.1.Plus,i saw in one of your posts tha u used bollinger bands and you were talking about a combination of systems if i got it right,which just confused me.And lastly,what if a fake break happens?how do we manage this?
The only rules i read in your manual were for entry "define trend by MAs" and "enter the brake of a res or supp line depending on the trend".There were no rules how to manage the trade or exit the trade.For this reason i think that you should make the manage and exit parts of the system a bit more clear.
I appreciate all your hard work and your will to share your systems with us.
I would be grateful if you could answer my questions.
  • #1,127
  • Feb 8, 2012 6:09pm Feb 8, 2012 6:09pm
Hi,

is anybody having a good month? I'm having the worst two months ever.
  • #1,128
  • Feb 8, 2012 7:02pm Feb 8, 2012 7:02pm
Great stuff Squalou - many thanks for adding the weekly levels!
Trade less and become more profitable!
  • #1,129
  • Feb 9, 2012 1:49am Feb 9, 2012 1:49am
Quoting nanningbob
Page 1 Post 1 10.0 #2 it is in the templates folder
Thanks Nanningbob. Much appreciated
  • #1,130
  • Edited 2:46am Feb 9, 2012 2:29am | Edited 2:46am
The system seems very good nanningbob,you have done a great job.I find some things unclear though.
1)Do you use the weekly timeframe to spot trade entries on D1 or H4 timeframe? Sometimes, Just want to get a overall long term view what a pair is doing. The 8MA on the daily is the 200 on the 1H. 50MA on the 4H and the 1.5 on the weekly.
2)How exactly do you enter the trade?If it brakes you enter or wait to brake,then retrace and then enter?I read a post of someone who entered before the brake.Have you used this method at all? I like to take it on the break. I use all daily and weekly line breaks. 4H and lower to me are not that good.
3)I havent used the MACD-Stoch indic in my trades yet.And i see tha u use them in many ways.Their use seems quite subjective to me so far by your posts.For example in one of your posts you said that you dont care if a resistance line is broken and the stoch is in overbought area.You would still take the trade in D1 timeframe.I think that it needs to be made clear in what MACD-stoch setup you wouldnt take a trade(because if i have understood well,their use is for confirmation only and not as an entrance signal,right?).That is an indicator of my invention and have used it for years so I understand its nuances best. There are others that have used it and adopted it but if you are not familiar with the Sto or MACD and how they work you may not find it useful. In my early years of trading I was taught the MACD but seemed I was always late on a trade. I fell in love with the STO on my own but was always getting in too early. The two make a compromise indicator trying to over come the weaknesses of each indicator with the other. I find it fairly reliable but also know it is weak on strong fundamental runs. I also use it to determine the strength of a move. I have used it so long it is instinctive to me and may not be able to explain it very well.
4)The most unclear thing to me in 10.1 system is how you manage your trade after the entry.I understood that your take profit targets are just before the next res/supp line but sometimes the next one is far away or there isnt one(i.e:the eur/aud new all time low).I got confused in some of your posts because you used h4 crt ea but i thought we didnt use any EAs in 10.1.Plus,i saw in one of your posts tha u used bollinger bands and you were talking about a combination of systems if i got it right,which just confused me.And lastly,what if a fake break happens?how do we manage this?
The only rules i read in your manual were for entry "define trend by MAs" and "enter the brake of a res or supp line depending on the trend".There were no rules how to manage the trade or exit the trade.For this reason i think that you should make the manage and exit parts of the system a bit more clear.
I appreciate all your hard work and your will to share your systems with us.
I would be grateful if you could answer my questions. The 10.0 system is to help traders read the market. We throw terms around like UT, DT, and range but we dont specifically define them. This is my attempt to trade according to specific definitions. I read the chart and then trade a system that matches the read. Because of the Euro mess it was easy to just sell the euro every chance we could. Now that that run is over it is now what? Well, the market will probably range for a while which leads us to to the CTR system which works very well in a ranging market or markets that are not trending strongly. So to make it as simple as possible I get my 10.0 read that the market is ranging so i use a ranging trading strategy. That lead to a short discussion of the CTR system because that works now. If you look at the daily charts practically every currency pair is ranging or is in a very slow trend. This makes a S/R trading system more difficult to trade but not impossible. BB bands and some kind of high/low system will work great now until the next fundamental breakouts.

The problem with TP and I have tried to explain this before is that it is very reliant on what is happening out there. TP in the jpy session are small not very significant. I often take those 20-40 pip moves because they will usually retrace and i can reenter them again during the Euro session. Euro profits can be bigger and the USA session will have the biggest. Let your winners run to me is a nebulous undefined phrase. The problem with it is that the market ranges 70-80% of the time therefore, your winners are not going to run but retrace back to your moving SL or go back to zero. Long ago I got tired of seeing 30-70 pip profits just retrace back to nothing, so now I just take them. I then set my trade on the other side of the next S/R line in case it actually does run. Most of the time it does not but I did get most of that particular move. So some traders have a hard time understanding discretionary profit taking. 2-3 hours into the jpy session is usually the best TP time for that period; 4-5 hours into the euro session works well; 3-5 hours in to USA session and then just before the JPY session is when I take my TPs. If the market has given me 10 pips I take it. If it has given me 100 pips I take it but unless you know the fundamentals driving that currency it is just going to bounce up and down so I pocket the profits when I see them. Those nice long profitable runners just dont happen unless you are going to take a long term view and trade weekly and daily charts. The second issue I see is price moves dont come in nice smooth movements but sudden spurts. If you look at an average hourly chart during a 24 hour period you will see 2 or 3 nice sized candles and the rest do not move that much. If you catch those candles great, if you dont you missed it. So TP is very dependent on day by day news and how a currency is moving. Ugly answer I know but that is really how it works. If I get a move from one S/R line to another i take it and set a pending on the other side just to make sure if it runs. Maybe I lose some pips in the exchange but it is not as many as I lose to trailing stops.
  • #1,131
  • Feb 9, 2012 9:14am Feb 9, 2012 9:14am
Quoting nanningbob
I read the chart and then trade a system that matches the read. Because of the Euro mess it was easy to just sell the euro every chance we could. Now that that run is over it is now what? Well, the market will probably range for a while which leads us to to the CTR system which works very well in a ranging market or markets that are not trending strongly. So to make it as simple as possible I get my 10.0 read that the market is ranging so i use a ranging trading strategy. That lead to a short discussion of the CTR system because that works now....
I appreciate your help.i have 2 questions.First,how do you spot a ranging market and how you define it?For example,u said that the euro is ranging right now so u use the ctr system.When i turn on Eur/usd 1D i see a clear uptrend(by your definition,MA(2)>MA(5)).So the market is trending,not ranging,right?So why use CTR?
Secondly,if i understood well.profit taking is very subjective and you take it based on hour of the day?U close your losses the same way?
Sorry if my questions sound noobish,but to be honest i am a noob .Thanks again for all your hard work and help.
Oh,i almost forgot.What would you think of a 1.0 and 10.1 system combination?Have you ever tried it?For example,taking a trade according to 1.0 and managing it based on 10.1's supp/res lines.Or filtering out 1.0's entries if they are close to a D1 supp/res line or entering the trade after the s/r line instead of entering on the MA cross.I think it could work.
  • #1,132
  • Feb 9, 2012 9:17am Feb 9, 2012 9:17am
Bob,

First of all I'd like to say thanks for sharing your systems and insights with all of us over the years. I've been trading the 1.0 version for a while now and getting really good results with it on lower timeframes.

I'm wondering if there's been any other successful traders trading the 1min/5min/15min charts? I just use the standard 1.0 template on the lower timeframes with the same entry rules and exit at key resistances/supports. I only enter really good setups and use good MM to keep my account balance looking proper.

Should I be using any different settings if I'm trading lower timeframes? Even though they are currently working for me I'd like to know if anyone else has messed around with the indicator settings for the lower timeframes with success.

I'm currently on my way to learning the ins and outs of 10.0 and I have the same question for the 10.0 system - should I be using different indicator settings for lower timeframes?

That's about it really. I love your work and I'm looking forward to contributing my findings an helping others once I am consistent with the strategy. I'm thinking of using 10.0 for trend direction / market types but then 1.0 for taking trades on the lower TF.

You are the bomb dear friend. Keep up the fantastic work and thanks from down under. Over here we'd call you a 'bloody legend'.
  • #1,133
  • Feb 9, 2012 4:52pm Feb 9, 2012 4:52pm
I appreciate your help.i have 2 questions.First,how do you spot a ranging market and how you define it?
I define a ranging market as when the high is on one side of a line and the low is on the other side of either the 2MA and/or 8MA. If you are in a DT and price is going to take a breather the high will go above the 2MA line. This shows the market will most likely take a pause for a while or reverse.The majority of time this will be true. A breakout happens when price then continues in the DT by breaking the previous low area. These are your support lines and when this happens these can be your best trades.

For example,u said that the euro is ranging right now so u use the ctr system.When i turn on Eur/usd 1D i see a clear uptrend(by your definition,MA(2)>MA(5)).So the market is trending,not ranging,right?So why use CTR?

I think I said most currencies are ranging right now. The Euro had been in an 8 day range period and now has broken back up. However I am very leery of Euro buys right now because at any time another country will go into a debt disorder. However, that maybe now or 6 months from now. So far all the Euro debt problems are just being refinanced with more debt. They have not solved their fundamental debt problem. The USA is getting close to having the same problem unless we get a hold of our deficits soon.
Secondly,if i understood well.profit taking is very subjective and you take it based on hour of the day?U close your losses the same way?
No my losses are based on where I might put my SL. I use large SL and small lots. Others use much larger lots and smaller SL. To each their own based on their trading styles.
Sorry if my questions sound noobish,but to be honest i am a noob .Thanks again for all your hard work and help.
Oh,i almost forgot.What would you think of a 1.0 and 10.1 system combination?Have you ever tried it?
Have thought about it and probably would work. I do use various EAs from my different systems based on what the market is doing. Too complicated to teach but you will learn as you become a better trader.

For example,taking a trade according to 1.0 and managing it based on 10.1's supp/res lines.Or filtering out 1.0's entries if they are close to a D1 supp/res line or entering the trade after the s/r line instead of entering on the MA cross.I think it could work.

Yes I do too. 10.0 was designed to work with other trading systems. It is a read the market system. Then you can go trade with a system you are familiar with or know very well. Many traders have adapted it to their systems as you can see from different posts.
  • #1,134
  • Feb 9, 2012 4:55pm Feb 9, 2012 4:55pm
Quoting Jemook
Bob,

First of all I'd like to say thanks for sharing your systems and insights with all of us over the years. I've been trading the 1.0 version for a while now and getting really good results with it on lower timeframes.

I'm wondering if there's been any other successful traders trading the 1min/5min/15min charts? I just use the standard 1.0 template on the lower timeframes with the same entry rules and exit at key resistances/supports. I only enter really good setups and use good MM to keep my account balance looking proper.

Should I be...
Thank you. Again my systems were designed to be used in conjunction with others. I am a high TF trader but I cant see no reason to get a daily read and trade lower TF. Because of my job (running a school) I can only check in on my trades every 4-6 hours and then for 5-10 minutes at a time lower TF just are not practical for me. Easier to just take a read and enter on a high end chart. That is why my SL are so much bigger than those who trade off of lower charts.
  • #1,135
  • Feb 9, 2012 8:00pm Feb 9, 2012 8:00pm
Quoting nanningbob
Thank you. Again my systems were designed to be used in conjunction with others. I am a high TF trader but I cant see no reason to get a daily read and trade lower TF. Because of my job (running a school) I can only check in on my trades every 4-6 hours and then for 5-10 minutes at a time lower TF just are not practical for me. Easier to just take a read and enter on a high end chart. That is why my SL are so much bigger than those who trade off of lower charts.
Thanks for the reply I'm having so much fun with this. I love how you leave it open to interpretation for others to conjure up their own systems with your work. As I said as soon as I sort my hybrid strategy out I will let you know.
  • #1,136
  • Feb 10, 2012 4:22am Feb 10, 2012 4:22am
Some ideas about SL usage. There are some variables and this is one I think you should think about. For example if we take the 1% that you shouldnt risk more than 1% of your account on any one trade, the figures would look like this.

2000 dollars trading:
1.00 dollar lots 1% is 20 dollars or 20 pips. Need very tight SL
.10 ten cent lots 1% is 200 pips to reach 20 dollars. You have some room
.01 penny lot at 1% is 2000 pips to reach 20 dollars. you have nothing to worry about in blowing your account, you should be able to trade forever.

So in figuring your SL ranges really depends on your lot size to account size. The bigger the lot size the smaller the SL. I hope this helps in understanding. I use small lot size to account size so I can using bigger SL.

Let us say you lose 5% of your account and have 1900 left. You now need to earn 5.2% plus the spread back to get to break even. So just giving you the odds.
  • #1,137
  • Feb 12, 2012 4:21am Feb 12, 2012 4:21am
Hello Bob/Everyone,

I have been reading through 10.1 and the thread throughout the weekend and am looking forward to playing on demo throughout the week ahead. The system doesn't look too complicated which I like, so a big thank you for your time!

I live in the UK and work office hours so I will miss pretty much all of London activity. Are there any particular pairs that I could focus on outside of my working day hours? I notice many look at 20 + pairs, I am quite green and this would blow my mind so 4-5 pairs would be ample.

Because of my circumstances I presume I would be suited to the daily charts more than the 4HR?

Bob do you ever partially close a position rather than closing and re-entering if you have a suspicion that It will continue to run but would like to bank pips? I.e. open an original position of 0.03 then close 0.02 at a S/R level and let the remaining 0.01 run.

Kind regards
  • #1,138
  • Feb 12, 2012 4:38am Feb 12, 2012 4:38am
Quoting SteveOSling
Hello Bob/Everyone,

I have been reading through 10.1 and the thread throughout the weekend and am looking forward to playing on demo throughout the week ahead. The system doesn't look too complicated which I like, so a big thank you for your time!

I live in the UK and work office hours so I will miss pretty much all of London activity. Are there any particular pairs that I could focus on outside of my working day hours? I notice many look at 20 + pairs, I am quite green and this would blow my mind so 4-5 pairs would be ample.

Because of...
Yes, if I know the fundamentals are strong behind the move. No, if I dont or it is just ranging.

4H charts depends on your schedule, for me school starts at 8 so I can check before then, lunch at 12 so i can check then, school out at 3 so I can check before 4, 8 is just after dinner. So 4H charts fit my schedule perfectly. So trading 4 hours charts are good if you can check on them about every 4 hours.
  • #1,139
  • Feb 12, 2012 9:38pm Feb 12, 2012 9:38pm
My first try at TTS.

40 pips on AU.

Any comments, suggestions or advice re this trade is welcome.
Attached Image (click to enlarge)
Click to Enlarge Name: au.gif Size: 22 KB
What you do is a reflection of you....what I do is a reflection of me.
  • #1,140
  • Feb 13, 2012 3:35am Feb 13, 2012 3:35am
Quoting nanningbob
Thank you. Again my systems were designed to be used in conjunction with others. I am a high TF trader but I cant see no reason to get a daily read and trade lower TF. Because of my job (running a school) I can only check in on my trades every 4-6 hours and then for 5-10 minutes at a time lower TF just are not practical for me. Easier to just take a read and enter on a high end chart. That is why my SL are so much bigger than those who trade off of lower charts.
Hello Bob,

Thanks for sharing your knowledge. I am trying the 1.0 and 10.0 on smaller time frames and I donīt seem to be triggering signals on 5 x 5 cross. Do I have to modify the experts for lower time frames?

Thanks.
Observation is the path to discovery.
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