ForexMorningTrade System

[Magicpip]

It's my understanding we set the time back 1 hour this weekend and if your broker is in the U.S. then we move the time forward 1 hour the following Sunday because Daylight Savings time ends in the U.S. Yes, it's confusing My broker is Interbank in Utah, and I've set the clock at 5:30 and moved it to 4:30 this weekend and then to 5:30 again next weekend.

 

[ShawnC78]

Thanks! I went ahead and went to the ForexFactory web site and it shows on the main page that there is a Daylight Change in London this weekend. I guess if there is any doubts I can look at timeanddate.com and make sure my brokers time is lined up with 06:30 London time which is right now 05:30 GMT time or 1.5 hours before the London Open.

 

[Ducky]

Maybe this will help also,
http://forex.timezoneconverter.com/index.cgi?timezone=US/Central;
Just change the setting for your time zone, then look at your broker platform time when they open on Sunday, calculate the corresponding time to 1 1/2 hours before London open and set your indicator and ea to that. I will be checking mine frequently until I find out if any of my three brokers change their time.

 

[Magicpip]

Forex Breakout Genius appears to be very similar to FMT. Testing comparing both will be on Forex Peace Army, and Donnaforex has a thread on the EA. Haven't seen real results though and it's not available through Clickbank. It appears to have had only 1 loss this week vs FMT's 2 losses. Same pip count, same session.

http://www.donnaforex.com/forum/index.php?topic=2802.msg56924;boardseen#new

 

[Pierre2]

Hi. I was wondering since there is a Daylight Savings Change in London this weekend when should we make the change for the FMT start time? In the manual it says 05:30GMT which for me is 12:30am CST, since I live in Texas. The broker I am using is FXDD so on my demo tests that is a server/chart time of 08:30 which is now equal to 05:30 GMT and 06:30am in London. Does anybody know what to do for this week?

Thanks!

Shawn

London always open at 8 london time(in winter is 8 gmt, in summer is 7 gmt)
Europe and London have changed hour this morning; if the broker change also, we dont have to change nothing; if the hour broker dont change we have to add one hour at our old EA setting

 

[Pierre2]

Forex Breakout Genius appears to be very similar to FMT. Testing comparing both will be on Forex Peace Army, and Donnaforex has a thread on the EA. Haven't seen real results though and it's not available through Clickbank. It appears to have had only 1 loss this week vs FMT's 2 losses. Same pip count, same session.

http://www.donnaforex.com/forum/index.php?topic=2802.msg56924;boardseen#new

the result are exactly the same; with jade I had only one loss this week; other broker dont had a BE for 1 pip

 

[Pierre2]

I have made some other test:
this year during summer time 01-april 30 october:
GMt 5,30
BE = 24
profit factor = 2.24

with BE= 20 Profit factor = 2.57
with BE = 15 Profit factor =2.60

 

[Ducky]

London always open at 8 london time(in winter is 8 gmt, in summer is 7 gmt)
Europe and London have changed hour this morning; if the broker change also, we dont have to change nothing; if the hour broker dont change we have to add one hour at our old EA setting

Nice simple clear explanation Pierre2

 

[wiseambitions]

I have made some other test:
this year during summer time 01-april 30 october:
GMt 5,30
BE = 24
profit factor = 2.24

with BE= 20 Profit factor = 2.57
with BE = 15 Profit factor =2.60

==================================================================
Very useful information, thank you for doing the research.

And have you tried to run the test to show the Profit Factor if the Stop Loss was left untouched at say 40 instead of being reset to a Break Even point at 15 to 24?

 

[JOHNCO]

Did anyone change their time for FXDD New York time? If so, What time did you set? I still get confused with the time.

 

[nubchai]

Did anyone change their time for FXDD New York time? If so, What time did you set? I still get confused with the time.

Johnco when the market opens I'll check time forFXDD and will post here. should be around 5 pm cst

 

[Pierre2]

And US broker with Us liquidity provider will change hour the 8th november

I tested with jade the following hours GMT 5, 5.30, 6, 6.30, in winter (1 nov 2009/31 march 2010) and summer time (1 april 2010- 30 october 2010)
The only not profitable was 6.30 GMT (profit factor=0.72), during summer time (1-april- 30 october)

Here the test

GMT --------winter-------- summer
5 -------------2.26-----------2.25
5.30----------1.35-----------2.24
6--------------2.04----------1.32
6.30----------1.63----------0.72

 

[nubchai]

Re: Test

How did you do this month compared to Mark's results:?:

I haven't looked at Mark's results but since 10-14 I've had 7 winners and 1 loser. Early on I was intervening too much. I still look at the set-up each morning since I'm up anyway.

 

[nubchai]

And US broker with Us liquidity provider will change hour the 8th november

I tested with jade the following hours GMT 5, 5.30, 6, 6.30, in winter (1 nov 2009/31 march 2010) and summer time (1 april 2010- 30 october 2010)
The only not profitable was 6.30 GMT (profit factor=0.72), during summer time (1-april- 30 october)

Here the test

GMT --------winter-------- summer
5 -------------2.26-----------2.25
5.30----------1.35-----------2.24
6--------------2.04----------1.32
6.30----------1.63----------0.72

Pierre,

If you have time could you please run for gu: 50 TP, 90 SL, 35 BE start time 5:30

I'd like to get your opinion on this set up. A friend got very good results. I do too but my modeling quality is deficient.

Thanks
Sandy

 

[Hittfeld]

And US broker with Us liquidity provider will change hour the 8th november

I tested with jade the following hours GMT 5, 5.30, 6, 6.30, in winter (1 nov 2009/31 march 2010) and summer time (1 april 2010- 30 october 2010)
The only not profitable was 6.30 GMT (profit factor=0.72), during summer time (1-april- 30 october)

Here the test

GMT --------winter-------- summer
5 -------------2.26-----------2.25
5.30----------1.35-----------2.24
6--------------2.04----------1.32
6.30----------1.63----------0.72

Thanks, Pierre2!

DId you use any BE levels with these?

Regards

Hittfeld

 

[Pierre2]

==================================================================
Very useful information, thank you for doing the research.

And have you tried to run the test to show the Profit Factor if the Stop Loss was left untouched at say 40 instead of being reset to a Break Even point at 15 to 24?

In winter With no BE profit factor with jade is 1.43 against 1.35 with breakeven 24
In summer with no BE profit factor with jade is 1.44 againt 2.24 with BE 40

6.30 jade hour in winter is 6.30 GMT

 

[Pierre2]

Thanks, Pierre2!

DId you use any BE levels with these?

Regards

Hittfeld

Yes BE= 24 (default)

 

[Pierre2]

Pierre,

If you have time could you please run for gu: 50 TP, 90 SL, 35 BE start time 5:30

I'd like to get your opinion on this set up. A friend got very good results. I do too but my modeling quality is deficient.

Thanks
Sandy

Better default
I run 5.30 jade time and 6.30 jade time
see attach

 

[nubchai]

Better default
I run 5.30 jade time and 6.30 jade time
see attach

Wow thank you Pierre. The 6:30 is quite an improvement. The 50 TP and 90 SL looks very good although the risk-reward might put some off

Thanks again

Sandy

 

[Pierre2]

Wow thank you Pierre. The 6:30 is quite an improvement. The 50 TP and 90 SL looks very good although the risk-reward might put some off

Thanks again

Sandy

The default for 1 year 6.30 jade time is better