Discussion NB 4H EA

FOREX.COM DOESN'T ALLOW INVESTOR PASSWORDS, SO IF YOU WANT A BETTER BROKER, GO FOR IT!

I was about to dump this EA last week before it finally made some $$ again. I realize that I have it set for large moves only and I am happy with that. I am thinking like blessings to move my first couple of levels to small reentries of 200 pips or less, then on greater than 3 moving them to 240+ pips dependent upon currency.

I think it is unrealistic that I will get 10% per month as projected on this EA, however, my drawdown has been really low (around 3% or so most of the time).

I will have to spend more time figuring out which currencies and where to scale up. So far GBPUSD is the big winner, so I will probably scale that currency first, then EURUSD, and other non-movers (ex-EURJPY/GBPJPY).

I am also evaluating the NB 5.0 system using bollinger bands, stochastics and MACD's.

--another note, I made a big mistake a few times playing with the EA as when I manually exit it closes all my trades. I have been able to on occasion turn the EA off and close a higher level trade, then turn it back on. Unfortunately, 3 out of 5 times it has backfired and closed out all trades. I still have some makeup on EURJPY and USDCHF because of this. :) It has cost me about 200.00 which is sizeable considering the small account I am trading. :)

Just for informational purposes, this EA is NanningBob 60X90 EA using 6th's indicator (Forex Factory). However, I have modified it significantly for my own best settings and likes. The key too is that I turn it off on times where currencies are getting ready to make big moves. Probably like tonight USA time. :)

The chances that you can download this EA, modify and replicate is highly unlikely. You would probably do better! :) haha...

Just for information Gil: https://www.euromoneyfix.com/images//628/76821/Complaint_GainCapitalGroupLLCGlennStevens_2010_0630.pdf

Forex.com does not deserve you as client.

Haha! Wow! That was educational!

Thanks for bringing that up! Wow!

Well, I lost about 60K at Forex.com last year, guess why....? REQUOTE, REQUOTE, REQUOTE..... Oh, did you actually mean you wanted to close that order? haha... Well, our servers were down during that short period, or, there was news in Zimbabwe or something else they would come up with. (Of course this is why I was sleeping!)

They remind me of the Soprano's when dealing with technical support. I always feel I am going to get a 'visit' from one of their reps if I do too well. I did get a call once from some guy named RYAN. He wanted to find out what I was doing, how I was doing it etc... I laughed and told him that his firm was a bunch of criminals (in a more polite way). They guys are definitely not out to 'serve' anyone! :) Reminds me in my development deals of working with General Contractors. Always out to play one on you. :)

I would go to Alpari UK, but they don't take US customers! I can't wait till IBFX gets to UK or AUS! I am thinking of porting one account over to GO Markets as they seem pretty good as well! :) I need hedging!!! :)

Here is a response to a message I got from someone asking me to send them the EA's with settings. My advice is to research your own and find what fits your personality. I do not feel the interest in being responsible for your demise if that does happen by using these strategies. In addition, I use my own judgement on when to turn on/off as well, so that takes some experience.

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Hi,

Yes, you can download them yourself with your own settings. I wouldn't feel right in supplying someone with a losing strategy if that occurred. Sorry.

forex-tsd.com search for 'blessings 3' on google

forexfactory.com search for NanningBob 60x90 EA. I use my own modified version and manually change trades so you could probably not replicate.

These EA's could blow up because they use Martingale and only experienced users should let themselves play with them.

Gil

NanningBob 60x90 EA is a martingale? Is there got recommended setting?🙄

VS

I don't know if I responded to you or not. :)

Yes, it is martingale, on a very large timeframe, so to me it is safer than blessings 3. I just had an account with 25% drawdown with 5 currencies open all to the 3rd and 4th levels. Thank goodness it retraced as I don't like that high of drawdown on any account! :) From my extensive analysis, a 220 - 320 pip reentry will get you through ever major move. Size of reentry is determined by currency of course.

There are lots of recommended settings on FF. I suggest you try his new NB 5.0 system thread as I do believe it is probably better, but they did have quite a bit of drawdown on that account as well on this last run. It is a work in progress, but I believe it will do well.

I also manually trade this so much that I wouldn't consider it really an EA set-n-forget any longer. I like to use price action and fibs in in/out moves.

Gil

do u have any recommended setting for this ea? or can u share ur setting with me so i can test it in demo first?😄

Thanks in advance.

VS

If you are looking for EA, then I suggest you check out the NB 60x90 thread and play around with it. I am probably 50% manual if not more at this point with this EA. I really just point it in a direction and turn it on. I will attach the 2 I am using currently, but if you look at the code, you can see it has been morphed into something it was not originally intended to become.

I am really focusing on my little big forex man EA, but I can't seem to get it through a couple of hurdles with my limited programming skills. Know anyone? ;)

Use these EA's at your own risk... Again, I have morphed them. I really like NB's 5.0 thread on FF as I believe that is a great technique, but right now I prefer price action for returns and his 5.0 system still has some clarity to overcome. :)

Gil<a href='https://www.myfxbook.com/files/bluemele/Short.mq4' target='_blank'>Short.mq4</a><a href='https://www.myfxbook.com/files/bluemele/Long.mq4' target='_blank'>Long.mq4</a>

I have updated my strategy to be a little bit more aggressive! I have added about 12 pairs but with a smaller stop/hedge so it should offset the draw-down.

I believe my daily results will be higher, but my drawdown will be consistantly higher as well. I am very aggressive with about 210.00 equity per pair, but it should be at 500.00 per pair for a safe % drawdown. I am in hopes the market trends a little bit over these next few weeks.

Also, forex.com added a few pairs! GBPNZD, among others are now up for grabs which will make it fun to make more pips on the roller coaster ride of forex. :)

Due to previous entries of USDJPY (LONG) it is costing me some drawdown, about 3%. So, I am expecting to get up to an average of 1,000 drawdown which would be 25% of the current profits. However, I do believe that I will be able to hedge out of them successfully from my testing!

This is fun and profitable and geared towards making more money in a fast trending market, but popping pips in a slow ranging market. :) Currently building the EA which I will freely share once I have a month or so under my belt!

Gil

Wow, what a week!!!

My new method was shaky as I added 21 pairs to it and in fast moving markets I failed to 'HANDLE' it manually. MY EA development has been delayed due to roadblocks, which is mainly my lack of programming ability.

My job now is to recover USDJPY, USDCHF (not included in new technique) and then hedge & martingale my way out of several trading pairs and shut down this technique until I get my EA working. My live testing worked beautifully, but if you never close out your bad trades along with your goods, you soon forget where you are standing... I have brought # of pairs down to about 9 from 19! :) :)

If I get a big run in the wrong direction it could cost me, but I am purposefully pushing my profits against the direction of the trend. I believe that a major retracement is due to the NORTH on several currencies, but those could be my last words... :) MACDBB, Keltner, Stochastics are all telling me that we are within 200-300 pips of a retracement. Let's hope sooner than that.. I promise, I won't ever get this aggressive again with a new technique.. Just keep my drawdown from too high and my profit in... Thank you... :)

I should be out of GBPJPY, EURUSD and EURJPY soon.. Along with CADJPY! Wish me luck!

Gil

Ok, so this week, starting with a -900 draw-down or 22% roughly, and way too many pairs to be traded with my experiment. Why is it when you have a good thing going, you end up playing with it to break it. :)

It could take me weeks to get out of this HEDGING issue, but I have done it on a few accounts and it is good practice. I believe I can widdle it down to -350.00 pretty easily, but that last 350.00 could be a challenge so I may just take the hit. I can see several of my currencies will go in my direction this week, but a few I am uncertain so let's find out.

To another good week. I am in hopes not to end this week with a 1500.00 drawdown! :) Unless I pocket another 1000 pips! :)

Gil

3 pairs eliminated this morning from the drawdown, 10 more to go (3 of which were drawn down before or I am choosing to take profit on the GBPJPY for my typical technique as I believe it is due to go North).

This is fun. Looks like the GBP will be heading up, but seems weak to me. We will see... I am shooting for EUR to go up though, so most likely GBP will follow!

EURJPY is a challenge right now as I believe it is ripe for a retrace, but it just keeps dropping. That is the way that pair moves!

Ok, let's recap why my equity is back to original amount.

My original strategy worked quite well, I was up almost 38% in 2.5 months. Then, I decided to use this TEST account to try another technique. This technique does really really well in a trend and I made a bit of money, but I didn't manage it properly (too aggressive in testing) and I added 22 pairs which was too much. I then thought the price was going to retrace, so I thought I could use my old strategy to get out of the old positions.

I believe where I exited is probably the turn-around, but I couldn't take the risk. This is a TEST account and my strategy #1 was quite successful along with Strategy #2 (would have done very very well had I stuck with it to exit my positions!!).

All-n-all! Even though, this account is back to 0, I am very happy. I am going back to my #1 strategy now and will hopefully get my EA working for #2 strategy! :)

Gil

Ok, back on track! The back to original equity is not as bad as I thought. Of course, I now have to explain that I was playing with the account, 'betting' against the YEN (not the time to do it) and trading manually trying to get pivots which is always a challenge unless you are glued to your screen 24 hours a day. I will not be greedy again and will just take the lumps that come with it, but I was feeling confident that there was going to be a retrace! I think it is happening now unfortunately. I could have just hedged a couple days ago and when price exceeded the 23% retracement on fib's then I would have entered on retrace of the retrace which would take me to the 50%, if that makes any sense!

I am really only down about 900.00 of earnings as the other 600.00 was imaginary with drawdown. Strategy #2 has promise, but only with certain pairs so I need more testing and more time to get the EA working! That is why I ended up being 'greedy' and not closing out my losing hedges! I earn/lose 800.00 in a day trading futures, so no big deal, but this was fun! I am enjoying it and the realization that I can easily pull 6% to 8% a month is exciting!

Gil

(Strategy #1, NanningBob, ranging markets)
(Strategy #2, SuperTrend ATR breakouts, For Trends)
(Strategy #3, Triple point bounces, For Trends)
(Strategy #4, Anti-grid, trends, short term)
(Strategy #5, grid with recovery, ranging markets)
(Strategy #6, Grid, ranging markets)

Started up my Strategy #1 using the NanningBob system of trades on a Robot with discretion. I have been asked to set up a managed account by a friend so they can follow my trades. I couldn't find a good broker that I liked, so....

Anyways, here are some things that I have implemented in this round:

Stop Gap entries that trail for fast moving markets
Profit Protection for multiple entries for recovery to 'X' dollars
a stochastic entry (15/85) on the 260 bars of history
a stochastic entry of 45/55 on 14 bars
% trailing stop to take profit until it reaches stochastic limitations

I also visually make sure that the MACD Divergence is looking good and manually exit and turn-off EA's if I feel that we are going through another 'wave' or Fib's are telling me too!

I have been doing this system now for 5 months and have had 2 big drawdowns. The MAY (everything, which was interesting, and involved hedging!) and late July (GBPUSD). The latter was interesting as I had ramped up my lot sizes and was doing live testing and it entered me double! So, not only did a have like a 700 pip run against me, I had it double along with AUDUSD, EURUSD and a couple others not retracing. It survived, I survived and the system works pretty well.

Remember the concept is to scalp for pips on the 4HR chart and catch the big run back to the middle.

When I get the robot going (remember, this isn't fully automated!) then I will share it, but I recoded the whole thing and am debugging it. When I do, I will share it! :)

Aloha,

Gil

Please test this before using it. I don't believe it will work on ECN yet!