ForexMorningTrade System

Deatil said:
The question is have YOU read the manual? Right off page 5 from the PDF,

Word per Word "Your trading day will look as follows:
 At 6:30am (UK time) you look at the charting platform and decide if you'll open the trade (more on the rules later)
 If the conditions are met, you'll simply place a trade and walk away. That's all. You don't need to sit in front of the screen, monitoring your positions. The trade will either hit profit target or stop loss automatically.

And yet again on Page 5 of the PDF it mentions AGAIN

"The only “drawback” of the system is that you have to get up at 6:30 UK time, but we always have to sacrifice something to be successful in life, right?
"

My God if some of you do not understand such simple rules , then you should not be trading.


And to make matters even more simpler Marc Sent an e-mail yesterday from his account with a Big Pic showing everyone the entry time and it clearly again showed 6:30 AM London time, how some can still have issues with this subject is beyond any help.
Simple enough ?
Click to expand...

I have attached a pic of Page 5 of my original manual...please note the highlighted area referring to 5.30 GMT start. We are are at GMT now in UK. If I had kept to that it would mean setting my Alpari (UK) start at 6.30 which is the wrong time. I now have the updated version.
I know Mark sent email with a pic but it was still ambiguous to what you see here.
Just putting the reason for my posts.
The rules are not always simple when you have ambiguity.
Settings didn't make any difference today though....Have a good weekend.:)
 

Attachments

  • Page 5.jpg
    Page 5.jpg
    372.3 KB · Views: 182
I don't honestly think the change in clocks in London has got anything to do with the trades for Monday and Tuesday going bad

There seems sadly to be at least one day per month when the price just goes bad despite the indicators, and another one or two when bad news (and I still dont know why it tipped the £ so bad whereas it didnt do same to the euro today) upsets things

Just gotta do the same every day in the fashion it has worked in the past....
 
wiseambitions said:
I don't honestly think the change in clocks in London has got anything to do with the trades for Monday and Tuesday going bad

There seems sadly to be at least one day per month when the price just goes bad despite the indicators, and another one or two when bad news (and I still dont know why it tipped the £ so bad whereas it didnt do same to the euro today) upsets things

Just gotta do the same every day in the fashion it has worked in the past....
Click to expand...

Hi Wiseambitions

I think the pound suffered after the release of lower than expected UK Construction Purchasing Managers Index (PMI) at 0930 this morning. Though at 51.6 (>50 = Expansion) the reading was still below the the expected figure of 53.1. This index includes things like construction activity, prices etc. The lower reading suggests less inflationary pressures - this in turn delays a potential rise in Interest rates which hurts the GBP.
 
barebud said:
Can you tell me if this chart looks right? I'm wondering if my trade time is screwed up?

Thanks

Bud
Click to expand...

Hi Bud,
yes you entered your trade one hour and 15 minutes too early.If you count 4 candles after the candle you actually entered, this is the candle you should have entered at.You will notice the candle you need to enter on is the 2nd spinning top. Hope this helps.

Regards KiwiClint.
 
Observation

The attraction of a fixed time to trade each day is in itself very strong.
However Mark has obviously found that the two primary indicators do work well.
I am in a time zone well away from most and I have checked recent (two months) graphs.
I note that these indicators can work well at any time of day and in fact the major determinant for a successful trade is when one passes strongly through its mid line and is followed by the other. The length and strength of the trade does need monitoring for maximum benefit but should work well enough with standard TP and SL
One further note. The FMT standard time does possibly have higher average number of strikes but this may be because Cable has more volume and more news at that time of day.
I ask "Am I being heretical?"
 
Re: Observation

aspex said:
the attraction of a fixed time to trade each day is in itself very strong.
However mark has obviously found that the two primary indicators do work well.
I am in a time zone well away from most and i have checked recent (two months) graphs.
I note that these indicators can work well at any time of day and in fact the major determinant for a successful trade is when one passes strongly through its mid line and is followed by the other. The length and strength of the trade does need monitoring for maximum benefit but should work well enough with standard tp and sl
one further note. The fmt standard time does possibly have higher average number of strikes but this may be because cable has more volume and more news at that time of day.
I ask "am i being heretical?"
Click to expand...

yes !
 
FMT results for me today:

GU, hit SL -40 pips, (nothing I can do, sleeping at 1:30 am.)
GJ, hit BE +10 setting, +12 pips profit
EU,NYopen, hit TP=30 pips

hope GU gets back on track tomorrow and rest of week !

cheers !
 
Re: Observation

Tenapenny said:
No need. Evolution not revolution! ;)
Click to expand...

The only problem with revolution is you keep going round and round and ending up in the same place.......................
...........but I presume you mean the other revolution and I have no interest in starting one. Adieu!:cheesy:
 
Re: Observation

aspex said:
The only problem with revolution is you keep going round and round and ending up in the same place.......................
...........but I presume you mean the other revolution and I have no interest in starting one. Adieu!:cheesy:
Click to expand...

Your observations and input are appreciated. Keep it up. (y)
 
Nashstarr said:
Kiwi Clint, I couldn't agree with you more. I got out at -10. I will minimize a loss whenever I can. I think this forum has been extremely helpful and I am very pleased with the Morning Trade System. No two traders are alike and I am surprised at the criticism received by those who trade FMT as best fits their style of trading and/or level of experience. IMHO I think as long as you have a valid reason for an action (and it is not based on fear or greed) then you are good to go.
Click to expand...

Hi Nashstarr,

Thank you for your support and like yourself I am also very pleased with the Morning Trade System but after a few years of trading under the belt you learn to trust your own judgement which of course is not always right but at least when you make a mistake it is your own mistake, not that made by blindly following someone else's mistake and you can analyse it and keep it tucked away in your memory for future reference.

At the end of the day a trader's responsibility is to oneself and preservation of capital should be high on the list of priorities,the big boys make enough money out of us as it is by paying them interest on our mortgages etc without throwing them more by losing unnecessary money and committing financial suicide trading forex.

Regards, KiwiClint
 
jonjo said:
I have attached a pic of Page 5 of my original manual...please note the highlighted area referring to 5.30 GMT start. We are are at GMT now in UK. If I had kept to that it would mean setting my Alpari (UK) start at 6.30 which is the wrong time. I now have the updated version.
I know Mark sent email with a pic but it was still ambiguous to what you see here.
Just putting the reason for my posts.
The rules are not always simple when you have ambiguity.
Settings didn't make any difference today though....Have a good weekend.:)
Click to expand...

Here is the e-mail from Mark and even the link were he clearly shows a pic of the trade entry , there is nothing ambiguous about it, and if you still have a hard time understand the picture that shows every clearly the entry point and can not match Mark pic showing the entry point and time to your own chart, then you have a problem because simpler instructions could not have been given to anyone who still has a problem understand the entry time.

"The simplest way is to compare your chart with Alpari UK.
I've made a screenshot of today's entry on Alpari UK platform,
you can see it here:"

http://www.forexmorningtrade.com/abc123/trading_time.jpg

"Open your own Metatrader, check the candles and find the one that
is indicated on the screenshot. Check the time of that candle
on your platform and you'll know the correct trading time.
Simple as that."

This was yesterdays e-mail 01 Nov , so the trade shown in the pic was yesterdays trade.
 
Re: Observation

aspex said:
The attraction of a fixed time to trade each day is in itself very strong.
However Mark has obviously found that the two primary indicators do work well.
I am in a time zone well away from most and I have checked recent (two months) graphs.
I note that these indicators can work well at any time of day and in fact the major determinant for a successful trade is when one passes strongly through its mid line and is followed by the other. The length and strength of the trade does need monitoring for maximum benefit but should work well enough with standard TP and SL
One further note. The FMT standard time does possibly have higher average number of strikes but this may be because Cable has more volume and more news at that time of day.
I ask "Am I being heretical?"
Click to expand...

If indicator1and indicator2 both move through the centerline for each, it's a safe bet you're seeing a trend move in the price action.
 
Last edited:
KiwiClint said:
Sorry bro but this has nothing to do with being too scared, it's about being able to read charts! Even a blind man would have been able to see that huge bearish outside bar 1 hour in to the trade and if you had looked at the stochastics on the 30min and 1 hour charts you should have been outa there just like me and running for your life! You don't have to lay down on the railway track and get mown down just because you think you need to adhere to a system when it's blatantly obvious it's all turned to custard! Remember the golden rule: '' Cut your losses and let your profits run! By the way, my rookie status only applies to MorningTrade because I am a new member but I have actually been trading live for 4 years. Regards, KiwiClint
Click to expand...

Big deal I have been trading for longer than you and longer enough to know that an a bearish outside bear doesnt necessarily mean price will fall. If it always held true we would all be rich.

Why trade a mechanical system with discretion, if you have been trading for 4 years you would know the difference.

I look forward to you discretionary traders getting out early and then seeing the rest of us hit tp.

It will happen, sometimes you will be right, sometimes you will be wrong.

Cobber
 
Re: Observation

Nubchai please edit your post and label the Indicators1 and 2. It is not fair to Mark Fric to give the system away to those that have not purchased it!
 
You must log in or register to reply here.

Similar threads

W
29 turning 30. 11 years of trading. First profiting year Journal 1
2
Replies
37
Views
7K
IceThor
I
T
Colleged Fund Challenge
2
Replies
20
Views
4K
tkbieber
T
T
  • Poll
College Fund Challenge
32 33 34
Replies
678
Views
78K
tkbieber
T
Sharky
T2W Members' Choice Awards 2010 - The Results!
2 3 4
Replies
76
Views
19K
tar
tar
S
Question regarding high implied call volatility??
Replies
0
Views
2K
stocktradingguy
S
Top