Wise decision .B/Ed.Looked for 35
forex.com BE
IBFX BE
I know it is tough to watch it go back to breakeven but that is discipline. Taking profit earlier does not give you a chance to win. How many times will you be right verses wrong taking profit early. Stick with the system, don't modify your plan.
IBFX BE
I know it is tough to watch it go back to breakeven but that is discipline. Taking profit earlier does not give you a chance to win. How many times will you be right verses wrong taking profit early. Stick with the system, don't modify your plan.
my TMT trade also closed at BE, that was based on my settings. What settings you are using?
Latintrader72
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hi,
BE for me
BE for me
+20 right before price retraced to BE. Phewww
Congratulations! I was really close..but hit BE
RedGuerrilla
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12-08-2010
FMT 4.1
BE
+0 pips
Total: +81 pips - since 11-08-2010
Stats: 7 BE, 5 No Trades, 7 Profits, 4 Losses
Broker: FXSolutions - 4 decimal point charts and fixed spreads
Settings: 40 SL, 20 BE, 35 TP
1st month gave +81 and no drawdown
Another difference between my broker and Mark's broker
FXSolutions: 4 decimal points price charts and fixed spreads
PFG Best: 5 decimal points price charts and variable spreads
fixed spreads are dealing desk brokers, they see your stops and can go after them . . .
FMT 4.1
BE
+0 pips
Total: +81 pips - since 11-08-2010
Stats: 7 BE, 5 No Trades, 7 Profits, 4 Losses
Broker: FXSolutions - 4 decimal point charts and fixed spreads
Settings: 40 SL, 20 BE, 35 TP
1st month gave +81 and no drawdown
Another difference between my broker and Mark's broker
FXSolutions: 4 decimal points price charts and fixed spreads
PFG Best: 5 decimal points price charts and variable spreads
fixed spreads are dealing desk brokers, they see your stops and can go after them . . .
Thank you for sharing your stats.
Regarding the spreads, i am facing the same problem... I am using FXDD and they do the same.
Once i was going to move to Dukascopy, but i discovered later that their MT4 is only for demo accounts still they didn't activate for live trading and as per an email from one of their sales representative they will never use MT4 for live trading.
wiseambitions
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That remark is actually a little bit worrying. It makes you wonder at a time of thin trading (eg prior to London opening) to what extent a broker could be doing this. Especially as there is less likelihood of them being caught out by clients putting in opening orders with which they'd get hurt at their own game!
I do understand that the large operators in Forex markets do have access to data showing where there are stop or limit orders so that they could also come and woof you up even via other brokers. No wonder they are called the Big Dogs
wiseambitions
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The market has shot right up the other side of the 63hr EMA now. Bullish sign. Unfortunately anyone who chose not to reset to BE and who didnt hit their profit target would have been stopped by now unless they had a wider SL than 40 on top of the price prevailing at 6.30. Today was a day of a definite short signal, full 35TP was unlikely to have been achieved, so we have a disparity of members, some who took a lower TP, some who got out at BE and some who either have been knocked out at normal SL or who are still hanging in and might get lucky, who knows?
Advice please - how to choose a good broker for FMT?
applied for Alpari UK account (I'm in UK) 'cos a) seem reputable, b) offer micro, mini and standard, c) use MT4.
I see members with different brokers, and info. about them wrt to using FMT with them.
- looked at PFG Best (Mark uses for FMT Journal) but feedback on 'net was awful
- looked at Dukascopy, same conclusion as musallam, no MT4 live trading
- aware of the 'brokers hunting your stops' issue, from what Redguerilla says is it only dealing-desk brokers (identifiable by their fixed spreads) that hunt stops? and is this only an issue if you're NOT using the EA (EA hides your real ones?)?
- Alpari UK has MT4 for smartphones but only Windows Mobile platform - anyone know if MT4 is available for Android? Or Java?
Seems broker choice can affect Trade/No Trade, hitting BE, SL & TP etc. If discrepancies are random then should even out long term. But inferior spread, and slippage and re-quoting seem could have significant detrimental effect?
Anyone got any recommendations? Point me somewhere re: choosing a broker good for running FMT and probably TMT as well in due course (to use TP1 + TP2), both WITH EA's?
tks
Its not easy to choose a broker, but from my experience with the published results here in forum. I compared my results with others using Alpari, their execution usually better than mine (I am using FXDD), witha difference of 2 pips so i decided to 2 pips from the takeprofit so instead of 35 pips im taking 33 pips.
So if i were you, i will go with alpari.
Wishing you good luck.
Hi Brucer
I am using Alpari UK as I live in the UK. They seem fine to me apart from sometimes entering or exiting a trade a box comes up asking 'I am sure'.
I am still not able to count trades in 'pips' but just work out at the end of the trade the pip gain or loss manually from the prices.
Hope this helps.
I am trading FMT with a 25 take profit, 40 stop loss and not using break even. I put on the trade at 6.30am and look again at 9.00am.
I hope FMT continues to do well. For some reason systems suffer large draw downs, (such as Richard Hill's net trap system). I wonder why this is...does the market change and why??
I am using Alpari UK as I live in the UK. They seem fine to me apart from sometimes entering or exiting a trade a box comes up asking 'I am sure'.
I am still not able to count trades in 'pips' but just work out at the end of the trade the pip gain or loss manually from the prices.
Hope this helps.
I am trading FMT with a 25 take profit, 40 stop loss and not using break even. I put on the trade at 6.30am and look again at 9.00am.
I hope FMT continues to do well. For some reason systems suffer large draw downs, (such as Richard Hill's net trap system). I wonder why this is...does the market change and why??
