ForexMorningTrade System

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.

Am I reading this correctly? 6.00 is the best time with a 38 SL and 45TP? and is that 6GMT or adjusted for daylight in summer in UK? Thanks
 
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.

I read
1) Tweaking at 6.00 - 45 profit - 38 stop- 24 BE
2) 6.0 2.48 2960 190 239
One of the 2 is wrong
 
TK if you read my previous posts, you would know why I am in early. I hope some of you guys joined me this time. :D

Well, I didn't have time to read all posts but it worked out for us all last night, from 4-2 hrs before London open, everything said buy so yeeehaaa. :clap:
 
+35 pips! I fell asleep lol. I followed Mark's manual and entered 1 1/2 hours before London open :)
 
Can you post a screen shot of your entry point, so I can try and figure out why I hit BE?

They don't seem to like screen shots here since it's not only purchasers who are in this forum.

My entry price was 1.6123 if that helps you. 1 1/2 hours before London open. On FXDD that's 9:30
 
Mine was 1.6122, strange... what was your Move SL to BE point set at if you don't mind me asking?
 
baredub,

The reason behind SL moved to BE is, some brokers don't execute trades at the same point, for example FXDD always enters at a price higher than alpari with difference of 3 to 4 pips...... so if you use alpari and i use FXDD.... you will reach 20 pips before i do and your SL will be moved to BE and mine didn't move. Thats what happened today.

Last thursday, alpari moved to BE and FXDD didn't the result was BE for alpari and loss for FXDD.
 
They don't seem to like screen shots here since it's not only purchasers who are in this forum.

My entry price was 1.6123 if that helps you. 1 1/2 hours before London open. On FXDD that's 9:30

Just remove the indicators and the chart will be ok to post.
 
good day for FMT.. hit TP=30 pips

GJ was No Trade
EU, NYopen trade is still open, around the BE price.

cheers !
 
baredub,

The reason behind SL moved to BE is, some brokers don't execute trades at the same point, for example FXDD always enters at a price higher than alpari with difference of 3 to 4 pips...... so if you use alpari and i use FXDD.... you will reach 20 pips before i do and your SL will be moved to BE and mine didn't move. Thats what happened today.

Last thursday, alpari moved to BE and FXDD didn't the result was BE for alpari and loss for FXDD.

This is a good explanation. FXDD is always around 4 pips higher than the other brokers.
 
what is the GMT hour of NY open?

NY open is 10:30 GMT. but next week will be 11:30 GMT. because NY goes to EST.

This setting on FMT is 1.5 hours before NY open @ 8 am. local time, same as GU at 1.5 hours before London open 8 am. local time.

good luck !
 
+35 pips! I fell asleep lol. I followed Mark's manual and entered 1 1/2 hours before London open
icon_smile.gif

Congratulations! Good thing it went the right way while you were asleep ;)
 
NY open is 10:30 GMT. but next week will be 11:30 GMT. because NY goes to EST.

This setting on FMT is 1.5 hours before NY open @ 8 am. local time, same as GU at 1.5 hours before London open 8 am. local time.

good luck !
then I put in the ea 10.30 or 9?
 
has anyone experienced any problems with taking a trade with the new 4.0 version? haven't had a problem until using 4.0... didn't take a trade tonight for some reason.

I had a problem when using 4.0, there was a message displayed on error in volumn,
support from FMT told me to look at the LotsDecimal, some brokers dont allow 2 digits after the decimal, so change LotsDecimal to 1.. not sure this will solve the problem, i have missed the winning trade today.
 
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