10.6 EDSEL

[nanningbob]

I want to thank all of you for your Christmas greeting and thank yous. They are appreciated but to answer each one would double the size of the thread so you will have to forgive me if I dont answer each one. Anyway thank each and every one of you. Happy New Year.

[nanningbob]

Hi Bob

Thanks for this post, I have been working on something very similar, although your use of the MAs on different time frames to determine trends is brilliant.

Perhaps something to look at including is something I picked up from Stephen Bigalow @ candlestickforum. He explains the use of the TLine which is an 8 EMA, and enters trades once the price has closed above the 8 EMA (for Long) or below the 8 EMA (for Short). It just makes knowing exactly when to pull the trigger much easier.

I have been using this with great results.

Thanks again for the info.

Darryl

It is not so much that I am teaching things that have not existed before it is I try to organize it into a complete system that tries to give you a read at all times what the market is doing. I guess I am a good compiler of information. What seems to work in this crazy Forex world. Now if I could only get rid of my bad trading habits .......................

[nanningbob]

You can start by searching a post-christmas diet LOL.

If you got an android tablet, you can use an app called TeamViewer to remotely control your PC via internet, so you can check your charts as long as you leave your pc turned on.

I'm using an app:
http://www.freerdp.com/2013/01/29/thins ... -released/

I chose this one because it's opensource and therefore the chances of the coder putting in some kind of backdoor are a bit lower.

I then:
- add the dashboard to the css info page
- resize the window inside Empty4 itself (resizing the whole Empty4 doesn't stay with that setting when you reconnect)
and then
- connect to a free (laggy) VPS I get from my broker because I don't have a home nor a Windows PC

I can now quickly check all the charts at a glance on the go and place trades with another app.

The only problems to improve:
- need to set myself a limit on how many times I'm checking the dashboard. I am reminded of a friend who told me he knew he had a problem when in a go-go bar in Thailand he was staring at his phone instead of the tits and ass being rubbed in his face...
- the text on the CSS 24 pairs D window obscures the CSS chart... and I can't figure out how to move that text - modifying the offset in the source doesn't seem to affect it....


...DFS ads are on the telly already! Party poopers! (if you're not from the UK, just to explain... these ads are like a yearly calendar for us... in the same way the MET office is our church and the shipping forecast the voice of Gabriel)

Thanks I will take a look at this as I begin to understand how to use this thing. I actually like the faster speed and response of the tablet. Now it is a matter of getting used to the thing and then figuring out a safe way to carry it around.

[nanningbob]

Hi Bob, hi everyone.
I have studied NB system from version 5. But from version 10.4 i am little confused about several trifles :
1. In 10.4 booklet you talk about setting pending trades when RSI 2 is flatten at zero, but in version 10.6 you talk about setting pending trades after crossing 20/80 level of stochatic. What do you use as signal to put pending trades ? 0 or 20/80 of STO7 ?
I am a little surprised by your questions. The first three pages of this thread are detailed pictures and posts of how to use the STO7 and entering pending trades. You should reread it until it is understood. The reason there is a 10.4 and a 10.6 is they are different. STO7 gives you signals to look for trades and RSI2 did not. It is more specific.
2. Many times you talked about BE, where do you put BE on your trades ? Several times i saw on your charts BE trigered after only 10-20 pips. I is not possible to be profitable with this setting ....
I dont know where you got the BE after 10 or 20 pips but if you take profit on a profitable trade you are profitable. Why would you let it become a loser??
3. In version 10.4 you used multiple trades as points A, B, C with the same TP line. In version 10.6 you use TP before nearest XX.00 level and then you put farther pending order several pips after this line. So this is not multiple trade as i think...Am i right or i lost something important ?
Using multiple trades is something I do fairly often once I get into a trend. Whether you are a onein/oneout trader or are using multiple positions on a currency is your choice and you need to decide which one you would like to use when you are trading.
and finally....
4. You write about win ratio (3:1 or 2:1) and in other moment you write about SL on 240 (4H) or 60 (1H). How do you achieve ratio 2:1 when you have SL toooooo many pips from 240 line and TP you have before nearest XX.00 line ?
I have stated many times that I am not a fan of win ratios. I take what ever a trading session or day gives me and move on. To think I can set a 30 pip stop loss 1/3 of a penny and get a 2/3 of a penny profit when at any time a company/govt./business can cash a check/exchange money and upset the apple cart is a very difficult way to trade. If 18 pips is all a currency will give me during a trading session then that is what I take and move on. I trade to make profit what ever that happens to be. For example in December alone I had over 100 pending trades I canceled. In other words I set a pending and then canceled it when price didnt move in the direction I wanted during a session. That is also part of a trading decision. As I have explained in my booklets, I use the 240 line and multiple positions. That is not a one trade in one trade out trading philosophy so how I trade does not fit your question.

I am sorry for my misunderstanding, but until i do not understand all of these important questions, i do not know how to be profitable and i must only envy you and others long time profit.

Thank you and enjoy your family
Marek

see above

[nanningbob]

hi all,

couple questions hoping someone can advise on:

1) trying to customize my screen and like Bob's old Market Info indicator, but the text is all over the place (See pic). Went into edit objects and tried to repo the text, but it resets after a couple of seconds back to being way out of the box. any ideas how to put it back where it belongs?

2) can't find current dashboard for 10.6 edsel - I looked back through last 30 pages but don't see it. I see the market calculator for ranges of diff time frames, but not a proper Edsel dash. If someone can point the way, greatly appreciate it.

Thanks,

FF

marketinfoprob.png

You need to refresh the screen. The easiest way is to just click a different TF and come back or wait until the program/screen refreshes itself.

I dont post a dashboard and rarely use them. The STO7 signal is good enough for me to go check and I like studying my screens to see what price action is doing.

[nanningbob]

Bob, when you take trades on the 1H charts, are you getting out at the 60 MA on the 1H or the 4H? There were a lot of trades that I took on the 1H but the stop was at the 60 on the 4H, and a lot of them retraced to that level, loosing all of what I've made and then some more. I don't know if this is just because of december, or if its just better to get out of the trade if the expected fast trend continuation doesn't happen right away.

I dont use the 60 much as my SL line. It is normal for trades to retrace behind the 60 especially during ranging trade times. Reread the section that talks about range periods.

[nanningbob]

Please help me with the position sizing! What does 'few cents to 1000' mean?

How much money do you have in the account. If you have 1000 dollars you are trading in your account and you trade .01 and with your broker that is one penny per pip move you are trading one penny for every 1000 dollars you have in your account. If .01 is a dime per pip that is trading ten cents per thousand in your account. If I have 5000 dollars in my account and wish to trade one penny per thousand I would trade nickle lot size.

My goal is to make 10% of my account every month and I can do that by trading 3-5 cents per thousand of account. November I made 15% of my account but in December I made less than 3% so I am close to my goal.

[nanningbob]

Thanks!
Let's say I have a 5000$ account. I open a 0.01 lot EURUSD position (which is the minimum), and it moves 10 pips. Then my account moves 1 USD. That is 20 cents to 1000 USD, right? For 1 pip it is 2 cents, so I comply with Bob's rule, do I?

If you are trading .01 and it moves 10 pips to equal 1.00 then you are trading 10 cents a pip. If you have 5000 dollars in your account then you are trading 2 cents for every 1000 you have in your account. This is a very conservative and safe way to trade. If you have a bad day, week, or month, you live to trade another day. This is not a quick rich scheme but a solid investment plan. In the last two months I have increased my account by almost 18% trading closer to 3 or 4 cents per thousand. Those are my goals and my parameters. Others use a different MM and have bigger gains that I do but I also cant sit by my computer all day either. There is no shame in having a 5% profit in a month. That is better than banks give in a year. There is no shame in losing 5% in a month either. You live to trade another day.

[nanningbob]

Hi, 950

In the short frame it seems a bearish H and S forming in EURGBP 4H, but if you zoom out you can see a bullish HS. So, the best thing is stay away for the moment.

EURUSD is hot right now. A violent reversal could happen in the first weeks of the year (see channels in daily and weekly charts) or, if this insane demande continues, it could reach 1,43. Until dummie lights confirm a reversal zone best thing is wait and see.

Imagen 001.jpg

After doing a lot of reading the eur moves of last day Friday were done by the banks to improve the bottom line for the year. In other words increase the value of the EURO and the end of year and end of quarter balance sheet looks better. Market manipulation done by the EURO banks to make themselves look good. Easy to do during low volume times like the holidays. If I was the SNB I would be selling off some of those EUROS I have been buying for the last several years and decrease my risk and pocket a ton of profit.

[nanningbob]

Now Nanningbob's wild guesses for 2014. What I will be looking for this year and the 1st quarter.

The SURE thing.
Sell JPY and dont bother buying it. The last two months Emperor K has emphasized depreciating the yen was coming back to being a high priority. It worked well during the first half of the year but has stalled some since. They wish for it to continue and will push harder to make it come true. Look for your best entrances and take the ride. The best pairs to trade will be the usd/jpy, gbp/jpy, nzd/jpy, others maybe more iffy see euro notes below.

Others

USD will strengthen as long as the economy keeps improving and the govt winds down QE3. Look for solid buy opportunities as they come. It will be a bumpy ride because our democratic insitutions are deeply divided over which direction to take. Continued fighting between Dems and Republicans and conservatives with conservatives will make it jump up and down. But overall you should see appreciation over the long term.

GBP is being predicted by some to appreciate this year but I personally feel the Brits like its position in the market and will stay in its range. Having said that the strongest moves to strengthen will be the gbp/jpy. I expect the gbp/usd, gbp/nzd to continue to range. gbp/chf should weaken but many of you know I hate that pair and dont like to trade it. I dont know how much more it will gain gbp/aud, gbp/cad. Both are outside the norms of the last several years. I dont trade the eur/gbp but it is similar to gbp/chf so I expect the gbp to strengthen against both of them.

AUD will depend on whether China will continue its massive buying of its commodities especially in the mining area. As China's growth rate has decreased (this is normal economic activity) to its new levels, where ever it settle will go a long way to determine how far the AUD will fall. If you see Asia economic activity decrease you will see the AUD go down. If Asian economic activity increases it will go up.

NZD follows the AUD almost all the time but I have noticed an occasional decoupling. I believe this is caused by NZD exports are more into dairy, sheep, cattle, etc. They take a lesser hit during economic downturns. People still buy food and clothes. So NZD pairs may hold their value better is the AUD takes more of a dive. News reports have the NZD possibly raising their interest rates which would increase NZD value and AUD decreasing its rates which would decrease its value. These are the stories you look for.

CAD follows USD more or less. USD economy does good CAD economy does good. Another currency that drives me nuts at time. Not as bad as the CHF though.

At some point in the future the RMB will become trade-able and will increase its influence on the market. This is to be expected from a country that has the world's 2nd largest economy. There is a lot of "WHOA is US/THEM" writing on the internet about China but they are entering the world stage so deal with it. I do not consider it evil or good. It is what it is and their influence will increase. On the other hand they just past Mexico as far as being exchanged on the world markets so they have a long ways to go. When I can transfer USD and RMB freely in and out of the country then they have entered the world markets. Until then they are just a lot of noise.