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Nb 10.0 trend trading system

  • #2,321
  • Edited 12:43pm May 22, 2012 12:42pm | Edited 12:43pm
I am looking at the eurjpy for a sell. Placing a sell stop below the weekly pivot looks like a good trade. Or could I use the 5.5 MA EA to enter as well? Looks to line up with break of demand and trendline. I have a problem finding a place to put a stop. May I ask for input?

Thanks guys!

P.S. Daily is in a strong downtrend
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpy sell.gif Size: 31 KB
  • #2,322
  • May 22, 2012 12:58pm May 22, 2012 12:58pm
Take it when it touches one of the MA's with a stop above your supply zone. Close half at the WP and then put stops to BE and let it ride if it crashes through. Or close all at WP and enter again if it breaks through.
  • #2,323
  • May 22, 2012 12:59pm May 22, 2012 12:59pm
Quoting cmeade2
Bob

OK, I finally got the EA to work on an open screen. But I can't get it to work if I move to another profile in MT4.

Looking at the terminal message window I see something like

10.2 5.1 MA buy any TF initialized

when I put the EA on the chart.

But if I move to another profile in MT4, the following message comes up

10.2 5.1 MA buy any TF deinitialized

which presumably means the EA is not working anymore.

Correct?
When you change accounts, MT4 disables EA's (as a safety feature). Click the "Expert Advisors" button on the toolbar to re-enable EA's after changing your profile (i.e. account).
  • #2,324
  • May 22, 2012 2:15pm May 22, 2012 2:15pm
Hi Nanninbob and other traders

First of all, thank you very much for sharing your great trading system with us and helping other traders.

I've downloaded the trading manuals and try to understand how it works. I am not a big EA fan, so that I probably try to place orders manually.

Today, I watched the chart in the morning and in the afternoon and I noticed that TMA slope looks different from the morning to the evening.

As I don't know how to put the chert on the screen, I attached two screen shots. The first attachment (title: 22.05.12 EURJPY 4H AM) is the screen shot taken at BST (British summer time) 7:49am on 22 May 2012. TMA slope is below 0 line.

However, the next attachment (title: 22.05.12 EURJPY 4H PM) taken at 7:22pm shows that TMA slope I looked this morning is now above 0 line.

Does it happen to you?? Is it normal??? I don't understand how this TMA slopes are developed....

Any advice would be appreciated.

By the way, I am using Alpari UK.


Chublet
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 22.05.12 EURJPY 4H AM.png Size: 69 KB
Click to Enlarge Name: 22.05.12 EURJPY 4H PM.png Size: 60 KB
  • #2,325
  • May 22, 2012 2:30pm May 22, 2012 2:30pm
Repaint, Repaint, Repaint

Did you read NB's booklet about the repainting issue of the TMA indicator? Watch the 1min chart there you can see how it repaints the older bars...
  • #2,326
  • May 22, 2012 2:45pm May 22, 2012 2:45pm
Patience is indeed a firtue...
My trades are eventually getting into positive territory the last 20 minutes. Short on most of the aud & nzd pairs and long on some usd pairs...
  • #2,327
  • May 22, 2012 2:49pm May 22, 2012 2:49pm
Quoting hilavoku
Repaint, Repaint, Repaint

Did you read NB's booklet about the repainting issue of the TMA indicator? Watch the 1min chart there you can see how it repaints the older bars...
The booklet says repaint issue is minimized on higher timeframes as NNBob has used true values on TMA slope indi. Why still these huge repaint issues? When should one look at the slope and rely on the strength? I guess once it passes 0.8 or -0.8. Then look for pivot or S/R breaks etc. Right?
  • #2,328
  • May 22, 2012 3:00pm May 22, 2012 3:00pm
Hi forexripper.

Your question could be mine I did see the repainting last friday and was also little bit irritated. I thought the repainting would not be that big. I for myself did the same conclusion that its saver to take the TMA slope into account when it reaches 0.8 / -0.8

Would be nice if some more experienced trader could make a short statement?
  • #2,329
  • May 22, 2012 3:22pm May 22, 2012 3:22pm
Quoting cmeade2
Is that the "CriminalisECN" variable?
Yes.

(Sorry for the late answer)
  • #2,330
  • May 22, 2012 3:37pm May 22, 2012 3:37pm
Quoting Olarion1975
Yes.

(Sorry for the late answer)
Thanks I assumed as much and changed it and it worked.
  • #2,331
  • May 22, 2012 3:47pm May 22, 2012 3:47pm
I tend not to get hung up over any single indicator. Common practice is to combine repainting indicators with non-repainting indicators for confirmation. On the H4 template, we have pivots, support and resistance, 3 moving averages, and 2 open indicators. On the D1, one open indicator plus all the others. Somewhere in the manual, there is a piece about using the TMA slope for what it is best for--determining the strength of the market (or something to that effect). So, I never use the TMA slope for entries. Having said that, I can still get burned if I don't keep an eye on the greater market sentiment.

The screenshot below shows H4 and D1 TMA slopes for 26 pairs. It shows that the last few week's risk-off sentiment is, at a minimum, beginning to neutralize on the H4. Will it go risk-on? Who knows. Who cares. With these readings, I'll be looking to range trade INSIDE +/-0.4 for the time being.

This is the NB 10.2 TMA Slope Display v0.3 over at SteveHopwoodForex, credits to Steve, mop, and lg.
Attached Image (click to enlarge)
Click to Enlarge Name: rpnrp.gif Size: 8 KB
An ounce of profitable logic is worth a pound of efficient code.
  • #2,332
  • May 22, 2012 5:11pm May 22, 2012 5:11pm
Ok we have a ranging market. This is how you read it with this system. I didnt get some entrance points on some trades but the ones I did correctly, remember I am learning too, worked very well. Here is the aud/cad trade. First the daily chart to get your bias. You can see it has a sell bias. Notice the Slope indicator is red showing the strongest move will be sell. Notice the bars are between the 4 and the 8 showing you will probably get only 1 good sell move.
Attached Image (click to enlarge)
Click to Enlarge Name: aud cad daily.gif Size: 39 KB
  • #2,333
  • May 22, 2012 5:15pm May 22, 2012 5:15pm
2nd chart is the 4H chart. You have SRF failures all over the place so which one should you take. The sells because the daily chart is showing sell bias. It was 50 pip move after it crossed the weekly pivot. I did not have a good entrance on it and only got around 20 pips on it. So in a range market the best trades are the ones that will go with the bias of the daily.
Attached Image (click to enlarge)
Click to Enlarge Name: aud cad.gif Size: 37 KB
  • #2,334
  • May 22, 2012 5:19pm May 22, 2012 5:19pm
The aud/usd I did get right and hit that one for 60 pips. The daily is also greater than the -8 line so this trade may have some legs. But I will close now and reenter off the break of the last swing low if I think I want to try it reentering the trend. Other wise the aud/usd is showing a double bottom from last week so I dont know. We will see.
Attached Image (click to enlarge)
Click to Enlarge Name: aud usd 4h srf.gif Size: 34 KB
  • #2,335
  • May 22, 2012 5:24pm May 22, 2012 5:24pm
eur gbp I played to retest the weekly and it did. Now if it bounces off of here we then can look for the euro buys I was talking about earlier or you can play the break of the weekly pivot as a sell. The daily is showing a sell bias but not very strong. Either way you play it today have a tight SL and go. I think the best bet will be the sell trade but I also can see the gbp going weaker than the euro for a short period.
Attached Image (click to enlarge)
Click to Enlarge Name: eur gbp.gif Size: 35 KB
  • #2,336
  • May 22, 2012 5:33pm May 22, 2012 5:33pm
These kind of trades are all over the board. Do the following and make your choices.

1. get your bias buy or sell from the Daily.
2. play the cross of the weekly in the direction of the bias.

Happy trading.

If the daily is stronger than 8, like the eur/usd and some others you can play continuation of the DT/UT when it breaks those weekly S1/R1 lines.
#1 RED shows double bottom and #2 S1 line. I took my profit here but it was small because of a bad entrance yesterday. I can reenter the DT below S1
Attached Image (click to enlarge)
Click to Enlarge Name: eur usd 4h.gif Size: 33 KB
  • #2,337
  • May 22, 2012 5:37pm May 22, 2012 5:37pm
eur/usd daily shows bigger than 8 but it is not far from Monthly S3 and is at weekly S1. Obviously if it breaks those two we have a lot of run and angle strength in the move. Place the trades accordingly if you want to trade it with sells and hope the bull elephants dont enter the room. If the bull elephants enter the room it will be at WS1 or MS3 so I will place my sell below those two spots and see what happens. The charts say yes, euro bull elephants, where are you hiding at????
Attached Image (click to enlarge)
Click to Enlarge Name: eur usd daily.gif Size: 40 KB
  • #2,338
  • May 22, 2012 5:39pm May 22, 2012 5:39pm
So that is how I will trade today. greater than 8 on the daily look for runs to continue, less than 8 look for the one good trade in the bias direction.
  • #2,339
  • Edited 6:13pm May 22, 2012 5:40pm | Edited 6:13pm
Quoting RJo
I tend not to get hung up over any single indicator. Common practice is to combine repainting indicators with non-repainting indicators for confirmation. On the H4 template, we have pivots, support and resistance, 3 moving averages, and 2 open indicators. On the D1, one open indicator plus all the others. Somewhere in the manual, there is a piece about using the TMA slope for what it is best for--determining the strength of the market (or something to that effect). So, I never use the TMA slope for entries. Having said that, I can still get burned...
Now that is a cool indi. I want that one. I tried loading one up yesterday and I couldnt get it to work
  • #2,340
  • May 22, 2012 6:17pm May 22, 2012 6:17pm
Thanks for those explanations Bob. I too started off the week in DD and then saw everything go into profit with the SRF's. I'm up 300 pips so far this week (see attached for trades). I'm still down a bunch on AUDJPY and USDJPY shorts but they'll come good soon
Attached Image
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