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 !......