ForexMorningTrade System

[hammy66]

I disagree with over analyzing the EA. I backtested all the different settings of Turbo and have found really great settings which earn much more than FMT. I've already earned back what I paid for it with this morning's trade when I opened 2 charts by mistake. Set it and forget it. Profit Factor of 3.13 and 3.22. Time of trade: 6:00-8:30.
Backtested month of November and it earned $255 - $266 with $1.00/lots !

hey , that's pretty good for November ! better than FMT did...

ok, I could be wrong, but you know what I mean about having too many options to play with and getting it wrong ? Well done on your double trade this morning..:clap:

cheers !..:cheesy:

 

[Magicpip]

Yes, a lot of options to play with, however I'm thinking that the problem with EA's in general is that they don't change with the market and only work for awhile. These options may give us the ability to go with those market changes. Plus you can partially close a trade and lock in the profit, and go for a higher TP.

 

[deserteagle]

Backtested Turbo EA with .4 lots, split profits at 35, 40, BE20, and ATR stop, from 10-1-10 to 10-19-10, an initial deposit of $10000.00.

FMT Total net profit 11834.00 Gross profit
Turbo Total net profit 14221.60 Gross profit

Would you please try a BT with SL 65, TP 43 and BE 20?
This is the best set I have found for FMT, so I'm curious if the turbo version is able to make it better.

Thanks in advance

 

[ihelfman]

Would you please try a BT with SL 65, TP 43 and BE 20?
This is the best set I have found for FMT, so I'm curious if the turbo version is able to make it better.

Thanks in advance

That would be no different than FMT. The Turbo difference is up to two profit targets and different exit options on the second contracts. However, I'll test your settings when I get back to my computer that has what I hope is good back data.

 

[ihelfman]

Would you please try a BT with SL 65, TP 43 and BE 20?
This is the best set I have found for FMT, so I'm curious if the turbo version is able to make it better.

Thanks in advance

Trading .4 lots, with an initial $10K investment, for 11 months this year. this setting made $7,006. Better than my optimized Turbo settings did. I'll have to get some more data and test this farther, because of the large potential drawdown.

 

[bouzo132]

my settings on the original FMT have been revised as we are having a lot of B/E going on.
So i run 2 FMT EAs on 2 seperate charts , with diff magic numbers, with total trade size broken in half of course.
FMT ea no1 25tp 20b/e and 40 sl
FMT ea no2 35tp 20b/e and 40 sl

This gives an average of 30 pips when both hit tp, will report on stats.

mon- no trade
tue- no trade
wed- ea 1 -25 pips
ea 2 -0 pips
thur- ea 1 - 37 pips ,large slip or ea was asleep
ea 2 - 39 pips

 

[bouzo132]

By the way , have been trading the original settings for a month live, have pretty much identical results to Mark.

 

[deserteagle]

Trading .4 lots, with an initial $10K investment, for 11 months this year. this setting made $7,006. Better than my optimized Turbo settings did. I'll have to get some more data and test this farther, because of the large potential drawdown.

ihelfman, thanks for the test, I supposed that set would show a good result. In my tests with SL 65 TP 43 and BE 20 these were the results:

Assuming a risk of 6,5% (one lot in account of 10000) from 01.01.2010 to 31.10.2010

Total net profit 16075.00
Gross profit 22685.00
Gross loss -6610.00
Profit factor 3.43
Expected payoff 150.23
Absolute DrawDown 334.00
Maximal DrawDown 1869.00 (9.01%)
Relative DrawDown 11.06% (1229.00)
Total trades 107
Short positions (won %) 45 (75.56%)
Long positions (won %) 62 (67.74%)
Profit trades (% of total) 76 (71.03%)
Loss trades (% of total) 31 (28.97%)

Regards

 

[hammy66]

my settings on the original FMT have been revised as we are having a lot of B/E going on.
So i run 2 FMT EAs on 2 seperate charts , with diff magic numbers, with total trade size broken in half of course.
FMT ea no1 25tp 20b/e and 40 sl
FMT ea no2 35tp 20b/e and 40 sl

This gives an average of 30 pips when both hit tp, will report on stats.

mon- no trade
tue- no trade
wed- ea 1 -25 pips
ea 2 -0 pips
thur- ea 1 - 37 pips ,large slip or ea was asleep
ea 2 - 39 pips

I'm also considering opening 2 separate charts with FMT, but with one set to trade at 6:00 GMT and one at default 6:30 GMT. Might be interesting ..:-0

 

[JOHNCO]

this made me really angry. I didn't want to react anymore, but I have to now. I always tried to be honest and overdeliver, and now you call me a scam artist. I don't sell black box EAs that will never work in the long term like 99% of the EA sellers out there.

I didn't even sell the EA. I sell manual trading system with clear rules, and I made a bonus EA out of it because some of the first customers wanted it. I give the EA for free, and I regularly update it (now in version 4.1) although it just costs me time and it has nothing to do with the original idea of manual trading system.

I believe you have no problem with Forex Signal Base or Breakout Genius, who just took my system completely, changed only the entry time and profit/stop loss and sell it as their own EAs. They are not scam artists for you, right?

Future updates apply to the manual system, the free bonus EA just copies the functionality of the manual system.




yes, of course. There will be no other paid Turbo-Turbo version.




Turbo Morning Trade EA is only for customers who own Forex Morning Trade. If somebody asks for a refund of Forex Morning Trade, I'll refund also his purchase of Turbo Morning Trade (even if he bought it later), and delete him from the customers base. I really don't want money from this kind of people.

Hey Mark, I don't know whats been happening the last couple of weeks. I haven't been on the forum for a while. I hear you have a new EA or system. I think I missed your email. please send information on the new EA. I feel if you have a new product I want to check it out. I went to my members area and saw no Turbo FMT. So please send me the info.I do not doubt your honesty. So don't get upset with those untrusting souls out there.
Thank you

 

[getbusy]

I'm also considering opening 2 separate charts with FMT, but with one set to trade at 6:00 GMT and one at default 6:30 GMT. Might be interesting ..:-0

This is what I started doing about 1.5 weeks ago with sl44, tp35 be0 and so far I really like the results

 

[rjus]

buy trade on extended version.

 

[wiseambitions]

ihelfman, thanks for the test, I supposed that set would show a good result. In my tests with SL 65 TP 43 and BE 20 these were the results:

Assuming a risk of 6,5% (one lot in account of 10000) from 01.01.2010 to 31.10.2010

Total net profit 16075.00
Gross profit 22685.00
Gross loss -6610.00
Profit factor 3.43
Expected payoff 150.23
Absolute DrawDown 334.00
Maximal DrawDown 1869.00 (9.01%)
Relative DrawDown 11.06% (1229.00)
Total trades 107
Short positions (won %) 45 (75.56%)
Long positions (won %) 62 (67.74%)
Profit trades (% of total) 76 (71.03%)
Loss trades (% of total) 31 (28.97%)

Regards

I'm wondering again how that compares with the basic version of FMT

If the starting signals are the same I'm a little dubious of the number of total trades quoted as 107

My reason for saying this is that would equate to 10 or 11 days a month, and I think the basic version is generally coming up with starting orders on about 15. You'd probably find by adding up the Alpari data (mAY June, July) on Mark's promotional page, and adding up the days on his journals, August to October inclusive that he's traded about 100 times in that 6 month period

Or perhaps does 107 exclude the Break Even days seen between 1 Jan and end October?

Please don't think I'm trying to pull your work to pieces, I just find that not every way of back testing is 100pc reliable

 

[bouzo132]

long @ average of 1.5628 on IBFX

 

[wiseambitions]

Also in on a long trade, there must be some strong resistance because it has struggled to ever get far past the 6.30 starting price and it's about 10 pips down now. Good luck to all

 

[wiseambitions]

Also in on a long trade, there must be some strong resistance because it has struggled to ever get far past the 6.30 starting price and it's about 15 pips down now. Good luck to all

 

[ws1234]

I was looking at December 2009, all three Fridays before X'mas week were losing days, although there is no guarantee history will repeat, I decided to stay out today. Good luck to everyone who is in the long trade today.

 

[Latintrader72]

Hi,
buy 1.5630

 

[stalboom]

look like BB

 

[bouzo132]

all stops @ B/E