ForexMorningTrade System

[Jashfx]

The advantage/disadvantage of a crappy entry price, is that your move to break even will take longer than those of us that got in early at a cheaper price.

I myself also try and get in a little earlier and 90% of the time I do but instead of moving to BE after 24 pips from my entry price I only move to BE after its moved 24 pips(or 20 - depending on strategy employed) from opening of 06:30 candle. That way not stopped out prematurely. At the end of the day this strategy is based on close of 06:15 candle and not anything else.

So the advantage is hitting TP sooner -- but moving to BE to early will often see what weve seen today. Pros and cons to both I suppose.

 

[Cobber]

If you got out at +25 i want your broker as they must be misquoting in your favour.

 

[Massagedoc]

BE now

 

[jacquespienaar]

Stop loss move to BE. Free trade!

 

[Nashstarr]

News giving us a good push up. Forecast .4%. Actual 1.8%. :clap:

 

[ruslander]

+40 pips... great!

 

[jacquespienaar]

My EA closed for 33 pips - back to winning ways!!!

 

[Jashfx]

TP hit -- well done to those that stayed in the trade.

 

[Tenapenny]

+40

 

[Pierre2]

stop loss move to be. Free trade!

tp hit

 

[Cobber]

Out with + 40pips, today we got in the right side of the news. Its a toss of the coin trading these events.

 

[Jon4FX]

Another win long ......... without using break even.

 

[40pips]

My entry level was at 1.61141 and manually closed at 1.61393. Trading on Alpari.

 

[bu$y $ignal]

hit tp good news for gbp and for FMT....

 

[Nashstarr]

+40. Good to be on the plus side again. See everybody tomorrow.

 

[musallam]

My EU trade also closed with profit.

 

[PipZombie]

Anyone using IBFX with the version 4.0 . Tuesday I traded and lost 40 pips I had my setting to take a .4 lot trade on a 2 decimal account. It lost $16 which is correct. Today when it took the trade it only took a .04 lot trade. Did anyone have this happen on IBFX?

 

[chrisheath]

Hi everyone, bought FMT a couple of weeks ago. I was a programmmer, so my geeky side writes eas, and lots of backtesting. FMT IMHO one of the best out of the box-it does what it says on the tin. Trader578, you may well have a point.
FMT optimization results from Sep 2007 –Nov 2010

Time PF Gain DD # trades

5.00 1.62 1600 376 212
5.15 1.59 1480 246 218
5.30 1.92 2160 310 228
5.45 2.00 2440 323 235
6.0 2.48 2960 190 239
6.15 1.69 1800 365 242
6.30 1.81 1920 333 225
6.45 2.00 2320 223 233
7.0 2.17 2480 161 225
7.15 2.44 2880 200 223
7.30 2.18 2600 244 238
7.45 2.37 2840 292 235
8.0 1.48 1440 356 237
8.15 1.37 1200 429 258
8.30 1.01 40 937 272
8.45

Tweaking at 6.00 - 45 profit - 38 stop- 24 BE

2.70 3230 198 239
I don't post much, so I hope its Ok to do this. Backtesting is a funny game. Don't believe what you see - do your own. Results depending when you start, spreads, slippage etc. There are threads about MT4 backtesting - historic data may vary etc.
But trading with the Big Dogs can be helpful - see 6.00 am results (on the other hand, a nice cluster round 7.30) . Nice win today - see you all tomorrow.

 

[Cobber]

NFP

Anyone trade this system during NFP. I dont usually trade before this news as the market jsut trades sideways? I dont fancy waiting hours for the trade to close.

Can anyone tell me the hit rate on NFP day?

Cobber

 

[musallam]

NFP

Anyone trade this system during NFP. I dont usually trade before this news as the market jsut trades sideways? I dont fancy waiting hours for the trade to close.

Can anyone tell me the hit rate on NFP day?

Cobber

NFP result comes after you get into the trade, so if you are lucky it will go toward your trade's direction.