ForexMorningTrade System

12-16-2010
FMT 4.1
No Trade
0 pips

Total: +69 pips - since 11-08-2010
Stats: 8 BE, 6 No Trades, 9 Profits, 6 Losses
Broker: FXSolutions - 4 decimal point price charts
and fixed spreads, Live Account
Settings: 40 SL, 20 BE, 35 TP
 
Please can you do a backtest with the same settings and compare the live results with the backtest results. This would be an eye opener.

May be there are also some other ideas.

Just my thoughts on backtests.

Antomi


I do a Backtest (01 Nov - 16 Dec) on Live Account data. I have the same Results like Mark in his Trading Journal. And the same results on Live Account History. So what did u mean with an "eye opener" ?
by the way i trade with Askobid

Cheers Kevin
 
Hi all,

Here I have attached an excel file with a simple statistic sheet, it can help you to keep an eye on the FMT performance.

It has 3 worksheets:
- The model which you can use it for your trades.
- Set 1 with the results for SL 65 TP 43 BE 20 (Alpari UK live account)
- Set 2 with the results for SL 40 TP 35 BE 20 (Alpari UK demo account)

Results start on week 47 (November 22th).

There is a big difference in the results of the sets till now. Let's see how it goes in the future, I will be saving the results.

To enter data on the sheet you should write the number of pips for each trade, or zero for BE, or 'NO' for no trade, then the rest of the data is automatically calculated.

Hope this helps to somebody.
 

Attachments

  • FMT.xls
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I do a Backtest (01 Nov - 16 Dec) on Live Account data. I have the same Results like Mark in his Trading Journal. And the same results on Live Account History. So what did u mean with an "eye opener" ?
by the way i trade with Askobid

Cheers Kevin

By "eye opener" I mean that you usually see a huge difference between backtest- and live results. If you don't have it, congratulations.

Best
Antomi
 
I have shut down my forex trading with EAs until the new year.
Looked at my results so far this week, this month and decided they were good enough to shut down last night. So, no trades for me today. I will still be checking in to this forum till xmas.

cheers !

I think tonight will be my last trade before Christmas as well,
for the exercise I just went back through my results to see how FMT has fared in my live account...

My first FMT trade was on 31st Aug and up to and including last nights trade I have traded since earning 747 pips :clap:

Pretty amazing results, which I have been very happy with :cheesy:
Thanks Mark for such an easy EA!

As for my settings, I must admit I have messed around with them a bit, however I think I have settled on TP 30, SL 40, BE 0

This is using the standard FMT.
I have also used FMT extended the last couple of weeks as well

Good luck to everyone who is continuing with FMT and I hope the pips are with us all well into the new year!
 
Hi PipZombie,
That sound very good. Unfortunately I just started with the system some days ago and don't have such a data base.
Please read #4979, where I suggested some backtests. It would helpful if you could try that.
Which broker do you use?

Thanks

Antomi

I use forex.cm and IBFX
 
my template says go long, at 6.30, then 1 minute later the price retraced 10 pips and now it's on the rebound

Not an easy one, it is all very volatile, and probably exonerates those who say stop trading for 2010 now
 
I am also going long - win or lose I am not about to question or second guess a good system!
 
Hi all,

Here I have attached an excel file with a simple statistic sheet, it can help you to keep an eye on the FMT performance.

It has 3 worksheets:
- The model which you can use it for your trades.
- Set 1 with the results for SL 65 TP 43 BE 20 (Alpari UK live account)
- Set 2 with the results for SL 40 TP 35 BE 20 (Alpari UK demo account)

Results start on week 47 (November 22th).

There is a big difference in the results of the sets till now. Let's see how it goes in the future, I will be saving the results.

To enter data on the sheet you should write the number of pips for each trade, or zero for BE, or 'NO' for no trade, then the rest of the data is automatically calculated.

Hope this helps to somebody.

Along with win and loss ratios, money management needs to be factored into the equation. For example, if you are trading a $10,000 account and want risk 2% per trade with a 40SL your trade size will be $5 per pip. With a 65SL for the same 2% risk you will be trading about $3 per pip. So each winner with a $5 per pip with a 35TP would be $175 and $3 per pip trade with a 43TP would be $129. So in my calculations the higher SL and higher TP requires approximately 1.35 wins wins to equal 1 win with the lower SL and TP standard settings. My observation and point here is that if the standard FMT setttings can maintain a 70% win rate, 35% more is not obtainable by the higher SL and TP setting. For the higher SL and TP settings to out perform the standard FMT settings, performance will have to fall off significantly in my opinion. I am not a math wizard and may have some incorrect observations above, but this is how i look at the situation. Thanks again for your input in the forum.
 
The good news for today's trade is that on the 1h chart the 38.2% fib line has not yet been reached. If we go through that or even bounce off it, we should hit profit target. :)
 
my template says go long, at 6.30, then 1 minute later the price retraced 10 pips and now it's on the rebound

Not an easy one, it is all very volatile, and probably exonerates those who say stop trading for 2010 now

This one is a tough one. I was just looking at my chart and see that the Daily 200 SMA is at 1.5635 which has been strong resistance.
 
hi,
buy 1.5629

my analysis charte

Pivot: 1.5665.
my Preference: SHORT positions @ 1.5655 with 1.56 & 1.5565 as next targets.
Alternative scenario: The upside penetration of 1.5665 will call for 1.5715 & 1.575.
Comment: the pair stands below its resistance, the RSI lacks upward momentum.
 
Last edited:
hi,
buy 1.5629

my analysis charte

Pivot: 1.5665.
my Preference: SHORT positions @ 1.5655 with 1.56 & 1.5565 as next targets.
Alternative scenario: The upside penetration of 1.5665 will call for 1.5715 & 1.575.
Comment: the pair stands below its resistance, the RSI lacks upward momentum.

good analysis. I am on the sidelines for now, as the upper trendline is a strong resistance, and the USD is showing stronger than GBP on my strength meter. the pre-market range is wide, and I like to watch that.
 
Along with win and loss ratios, money management needs to be factored into the equation. For example, if you are trading a $10,000 account and want risk 2% per trade with a 40SL your trade size will be $5 per pip. With a 65SL for the same 2% risk you will be trading about $3 per pip. So each winner with a $5 per pip with a 35TP would be $175 and $3 per pip trade with a 43TP would be $129. So in my calculations the higher SL and higher TP requires approximately 1.35 wins wins to equal 1 win with the lower SL and TP standard settings. My observation and point here is that if the standard FMT setttings can maintain a 70% win rate, 35% more is not obtainable by the higher SL and TP setting. For the higher SL and TP settings to out perform the standard FMT settings, performance will have to fall off significantly in my opinion. I am not a math wizard and may have some incorrect observations above, but this is how i look at the situation. Thanks again for your input in the forum.

Good point, thank you also for your analysis.
 
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