ForexMorningTrade System

[nubchai]

I'm confused. Has not everyone in this forum bought FMT?

Also I still get up at midnight to scan the GU chart. I have additional indicators that I have used for a while too. If for example I see that the FMT indicators are indicating a short I look to my other indicators to confirm. If they doI turn the EA on and let it do its thing.

One thing I'm thinking of doing is to take those mornings where all the indicators are screaming a buy or sell and increasing my allocation from 2% to 5%. 5% is still well within my tolerance forloss and the wins will be that much better.

Sandy

 

[Smiffy42]

That's what i do Sandy,
I use a MACD and a 50SMA to confirm.
Works well so far.
Cheers,
Paul.

 

[coolias]

Had I been using this system pre 2007 I would have been using it with a regular breakout strategy, possibly at a slightly different time. I would also do my usual analysis with trendline S & R, bollinger, macd, stoch and rsi, basically whatever technical analysis I was good with at the time. Pre-London breakout has been a trade I have done for over 6 years. There have been a few others who put together various strategies to trade this move. Fmt works great now and as we trade it we will be more familiar with nuances of this move, as it changes we will track it. Even now I am not depending on the signal, because like you I do not understand the indicators used here. So I am studying ones that I do understand and see how they show up at this time of day. That's what I suggest. Add something that you do understand and research how it corresponds to this trade move. You need to build your confidence.

~ Blue ~ Happy as the Sky

What exactly happened in 2007? Can someone fill me in on this? My chart wont backtest that far back in 2007.

 

[hammy66]

That's what i do Sandy,
I use a MACD and a 50SMA to confirm.
Works well so far.
Cheers,
Paul.

So, if you don't get confirmation, after FMT signals a trade, do you shut down EA, or take the trade at lower lots ? How has this worked so far, have you avoided some losing trades by FMT. ?

 

[bluedancer]

What exactly happened in 2007? Can someone fill me in on this? My chart wont backtest that far back in 2007.

Not much, but in Sept 2006, with the basic system there were between 6 and 8 losses in a row.

 

[Mario Loops]

I really like FMT, but I just don't understand how it works. Before I bought this system, I never believed in any lagging indicators. I wonder what it is about indicator1 and indicator2 that make this system so uncanny and accurate? And more importantly how long is this going to last? What happens when markets return to pre-2007 patterns? ... Maybe I'm just paranoid because this is one of the best systems I have seen.

Its easy to moan about the past think of the future🙂

 

[Mario Loops]

Not much, but in Sept 2006, with the basic system there were between 6 and 8 losses in a row.

Hi Blue you just getting up

 

[trader578]

Its easy to moan about the past think of the future🙂

Mario, it was once said that those that do not remember their history are doomed to repeat it. :cheesy:

 

[Mario Loops]

Mario, it was once said that those that do not remember their history are doomed to repeat it. :cheesy:

Not if you ve done what i have in my life,i dont look back anymore mate,forward only:clap:

 

[Smiffy42]

So, if you don't get confirmation, after FMT signals a trade, do you shut down EA, or take the trade at lower lots ? How has this worked so far, have you avoided some losing trades by FMT. ?

Hi Hammy,
I don't use the EA.
If things don't quite line up, i use my normal lot size but watch it like a hawk.

If my other indies are confirming, then it just gives me that extra bit of confidence to take more risk with the lot size.
Maybe just a psychological thing on my part.
Cheers,
Paul.👍
Bye the way, the SMA that i use can be adjusted to EMA/LWMA etc, and also has three adjustable colours for up,down,flat.
If anybody would like it, i will upload it here.🙂

 

[beavis1122]

I'd like to let you know that one of my friends started a chat group on Skype dedicated to Forex Morning Trade. If you want to join, send him a skype message to fx.ron
Only for customers.

I'll be there online too from time to time, so we can commend the trades as they develop during the day.

Mark

For those interested, there is a chat group dedicated to FOREX MORNING TRADE for its members. Send a message to fx.ron on skype to be added.

 

[Geoff135]

Hi Hammy,
I don't use the EA.
If things don't quite line up, i use my normal lot size but watch it like a hawk.

If my other indies are confirming, then it just gives me that extra bit of confidence to take more risk with the lot size.
Maybe just a psychological thing on my part.
Cheers,
Paul.👍
Bye the way, the SMA that i use can be adjusted to EMA/LWMA etc, and also has three adjustable colours for up,down,flat.
If anybody would like it, i will upload it here.🙂

Smiffy that SMA indicator would be good
Thanks

 

[suresh3101]

Guys..
Fmt system shows short in gbpusd and long in gbpjpy..
Anyone taking the trade??
Iam confused..

 

[nubchai]

Short GU. Suresh I would not take along GJ imo

 

[suresh3101]

short gu. Suresh i would not take along gj imo

even i dint take gj..
Short in gu at 1.58684..
Hope for the best mate!!

 

[fxdiesel]

short the EA trigger, but I'm manual out here banking 21 pips because in M15 I see here a DB

some times I not greedy 🙂

 

[nubchai]

short the EA trigger, but I'm manual out here banking 21 pips because in M15 I see here a DB

some times I not greedy 🙂

I took 13 pips. Looks like a reversal back up

 

[Massagedoc]

Went to BE stop now, earlier than 24 pips, just in case, still in trade

 

[JWBear]

Guys..
Fmt system shows short in gbpusd and long in gbpjpy..
Anyone taking the trade??
Iam confused..

I took both, lets see if the EA got it right.😉

 

[nubchai]

Went to BE stop now, earlier than 24 pips, just in case, still in trade

It may dip back down. At BE you're safe to let it play out 🙂