ForexMorningTrade System

[Tenapenny]

Gut feel says take 15 or so, especially as resistence is being tested!
BUT we use EA's to take out emotion.
Am leaving mine to run
TP= 5722,

Agree, I'm still in, letting the EA do it's thing and just occasionally checking in.

 

[megamuel]

Break Even for me. Can't believe I didn't get a loss though must have been close!

 

[Baldeaglebloke]

A systems a system - just got taken out at B/E - could have been worse though - only a couple of points off a full loss - today the EA worked for me - got me in exactly at open and took to b/e. Still capital protected to trade another day

 

[BorisViven]

-40 today...

A friend of mine (old and very good trader) risk 5% on each trade with FMT.
Is anybody here use this type of aggressive money mangement ?

Thanks !

 

[Baldeaglebloke]

-40 today...

A friend of mine (old and very good trader) risk 5% on each trade with FMT.
Is anybody here use this type of aggressive money mangement ?

Thanks !

too rich for me - 2% is enough

 

[Tenapenny]

-40 today...

A friend of mine (old and very good trader) risk 5% on each trade with FMT.
Is anybody here use this type of aggressive money mangement ?

Thanks !

2% is more than enough for me, especially if I have other trades in progress.

 

[JustinSydney]

2% is more than enough for me, especially if I have other trades in progress.

I risk 4% per trade. Am also contemplating a smaller capital account to risk 16%.

 

[oddien]

Hello guys

My first post here

I started the ea this tuesday, two losses so far this week👎

Do you guys use the new setting with BE start at 20 pips and tp 35?

 

[Tenapenny]

I risk 4% per trade. Am also contemplating a smaller capital account to risk 16%.

16% would have me worried 🤢 hope it's money you can afford to lose.

 

[Tenapenny]

Hello guys

My first post here

I started the ea this tuesday, two losses so far this week👎

Do you guys use the new setting with BE start at 20 pips and tp 35?

Hi and welcome. I think it's down to personal preference. For me BE 24 and TP 40. Others are using the latest settings.

 

[oddien]

Hi and welcome. I think it's down to personal preference. For me BE 24 and TP 40. Others are using the latest settings.

Thanks Teanpenny

I use the same, 24 & 40. But with risk 3%, will increase if I get good results on fmt
Also use another trader on this acc

 

[Adamus]

too rich for me - 2% is enough

When you say 2%, what do you mean?

I've had slippage of 17 pips on GBP/USD on 2010-10-05 so if you mean your stop loss being executed would cost you maximum 2% of allocated equity, that's not always right.

I wonder what the optimal fraction of account equity is.

 

[BorisViven]

Hello guys

My first post here

I started the ea this tuesday, two losses so far this week👎

Do you guys use the new setting with BE start at 20 pips and tp 35?

Hi and welcome !

I use Be 20 and TP35. In fact I prefer follow Mark advices, because he knows perfectly this system and made tons of tests on it.
But it's only my opinion.. 😉

dom

 

[MHK]

Hi and welcome !

I use Be 20 and TP35. In fact I prefer follow Mark advices, because he knows perfectly this system and made tons of tests on it.
But it's only my opinion.. 😉

dom

This system comes with very clear rules and a clear money/risk mangement.

Risk: 2% of account equity per trade

SL=40 BE=20 TP=35

If a trader deviates from these rules, different results have to be expected.

Don`t you think, that Mark has done his best efforts to come up with these metrics.

Example:

Risk 16% means, that 6 losses(interrupted by BE`s) will bust your account. 6 Losses in a row happened more than once in the past.

MHK

 

[wiseambitions]

16% would have me worried 🤢 hope it's money you can afford to lose.

FMT had a brilliant run from about 1/June through to the end of October, but standard settings are disappointing this month so far.

Nevertheless anyone who had the money to burn could have achieved the following, since 1/6/2010, starting with £10,000 and rolling up at various risk levels:

2% £18000
5% £44000
10% £168000
15% £514000

BUT, and it's a big but, future performance cannot be relied upon from historical results, and I have the strong feeling prudence dictates careful risk management, and they say professionals (or people working with someone else's capital) would never risk more than 5%. The drawdowns after 3 or 4 losing trades in a row are too unbearable.
A bit worrying that most of us on standard settings would have had 7 losing days in the last 15 where starting signals were received. Hope is not a market force, but let's wish for a resumption of the normal good experience from here onwards!

 

[LEEDAMIANS]

Anyone else still in the trade? I am considering exiting at break even? ( If we get there again)

 

[Euro_d]

All,
for me today demonstrated that the standard (latest vendor updated) worked perfectly. Sure we ended up as 0 due to moving the SL to BE at +20.

So far, there is nothing wrong with this EA, does exactly what it says on the tin.

Nice one Mark, look forward to seeing more from you, like other pairs.

 

[LEEDAMIANS]

Out for +18

 

[hammy66]

BE for me today ... lucky it wasn't a SL !

good luck tomorrow !

 

[hammy66]

ya i got nervous and took the loss... but I had a 45 pip stop, so I did not hit that. I just closed it after for -30 pips.

LOL...😆 hey fellow canuckette, I'm surprised you lost your nerve ..😆

for the sake of 10 more pips you could let it ride, would have saved 30 pips..:cheesy:

IMO.. set it, forget it, go to bed..collect your money in the morning...👍

It's done well for Mark , so far..😎

good luck tomorrow, blue !......🙂