I believe that most brokers charts indicated a long position on Monday. Very unlucky if you are with a broker who's charts didn't signal a trade on the only winning day of the week
I believe that most brokers charts indicated a long position on Monday. Very unlucky if you are with a broker who's charts didn't signal a trade on the only winning day of the week
wiseambitions
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Although I am not trading this week, I can frankly say I can't believe how unlucky FMT has been.
Without having had a signal Monday (which would have been a profitable trade), it would make the last 5 consecutive days (Thus (for which Mark got NT), Fri, Tues, Weds, Thurs) losers in my books. They were all Long calls, and presumably the market just didn't have enough stamina to carry a gain from 6.30am into a further burst.
Hope for better luck next month, I don't consider the system is broken, there would need to be a major sea change for the system to no longer function in the way it has done for the last 6 months and more. When people describe, as some may have done, that FMT is acting just like a random number generator, they forget that in the long term it has a success rate of more than 70% which is surely a fair bit better than a success of 50% which is what you'd get from random actions.
Out of interest however I have noticed that there are few days when FMT is right if the call to go long comes when price is below the 63hr EMA and vice versa. This is worthy of some study.
Without having had a signal Monday (which would have been a profitable trade), it would make the last 5 consecutive days (Thus (for which Mark got NT), Fri, Tues, Weds, Thurs) losers in my books. They were all Long calls, and presumably the market just didn't have enough stamina to carry a gain from 6.30am into a further burst.
Hope for better luck next month, I don't consider the system is broken, there would need to be a major sea change for the system to no longer function in the way it has done for the last 6 months and more. When people describe, as some may have done, that FMT is acting just like a random number generator, they forget that in the long term it has a success rate of more than 70% which is surely a fair bit better than a success of 50% which is what you'd get from random actions.
Out of interest however I have noticed that there are few days when FMT is right if the call to go long comes when price is below the 63hr EMA and vice versa. This is worthy of some study.
Deatil
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15 Dec was a Lose
17 Dec was a Lose
20 Dec was a Win
21 Dec was a Lose
22 Dec was a Lose
23 Dec was a Lose
Net Down 160 pips in 5 Trades
I think the stats have shown that FMT has never performed well in the December months, which is why many of us are not trading again until the second week in Jan. The market has less money going into it which has a big effect. Also there are less people trading which makes it un- predictable.
My first post. I'm a recent purchaser of the FMT - with my decision made based upon the almost "absolute" claims made on the website / in the sales literature. If I recall correctly - and I am loosely paraphrasing here at best - Marc indicates that he has had practically no losing trades in the approx. 20 months + of his use. This was one of the reasons I made the purchase.
I understand how market volatility and thin volume affects the reliability of trading systems. Sure. But...
* Some customers seem to have had far too many losers since November - all apparently inconsistent with Marc's claims.
* And I understand that Marc seeks additional revenue from the development and sale of "new and improved" products", (consistent with any wise businessman's approach).
* However, it would be helpful to see Marc remain a regular participant in this forum - responding to the issues of his customers - offering explanations, guidance - and maybe even updated versions with new tweaks, to improve the performance of the products we already purchased - at no additional charge...
.........RATHER than seeking to persuade us to purchased yet another product which may in fact be no better - or, only perform at the level at which the FIRST product was promised to perform.
This is all just an opinion - to which we are all entitled - nothing more. I am an inexperienced user - and have few facts. Maybe I am completely incorrect in my thinking. If so, please correct me.
I understand how market volatility and thin volume affects the reliability of trading systems. Sure. But...
* Some customers seem to have had far too many losers since November - all apparently inconsistent with Marc's claims.
* And I understand that Marc seeks additional revenue from the development and sale of "new and improved" products", (consistent with any wise businessman's approach).
* However, it would be helpful to see Marc remain a regular participant in this forum - responding to the issues of his customers - offering explanations, guidance - and maybe even updated versions with new tweaks, to improve the performance of the products we already purchased - at no additional charge...
.........RATHER than seeking to persuade us to purchased yet another product which may in fact be no better - or, only perform at the level at which the FIRST product was promised to perform.
This is all just an opinion - to which we are all entitled - nothing more. I am an inexperienced user - and have few facts. Maybe I am completely incorrect in my thinking. If so, please correct me.
JDJD88,
FMT has indeed performed well, it is a fact that December is not a good time to trade any EA, so don't ! I stopped trading at about Dec.14th, and that's looking like a good move the way things are going now. If you start FMT up again after Jan. 4th, I'm sure it will trade normally and you will be happy with the results. Mark has suggested the best settings to use and you should follow that.
Mark brought out a new EA, Turbo, for those traders that like to tweak settings and experiment more with the London breakout strategy. I don't think it's fair to say he has abandoned FMT, he has given you the best settings to use and he recently updated the version and the settings. It's an EA that you set it and let it run, I don't think it's beneficial to tweak it alot.
Since Turbo came out, I did not buy it, what I do is put FMT on 2 separate GU charts, one starting at 6:00 and one to start at normal 6:30 London time. I got this idea from the way Turbo works, and my results have been better than just running FMT to start at 6:30.
I have shut down until Jan.5th, and will continue this strategy then, I doubt I will need Turbo, if you compare the 2 , FMT is doing ok.
cheers !
FMT has indeed performed well, it is a fact that December is not a good time to trade any EA, so don't ! I stopped trading at about Dec.14th, and that's looking like a good move the way things are going now. If you start FMT up again after Jan. 4th, I'm sure it will trade normally and you will be happy with the results. Mark has suggested the best settings to use and you should follow that.
Mark brought out a new EA, Turbo, for those traders that like to tweak settings and experiment more with the London breakout strategy. I don't think it's fair to say he has abandoned FMT, he has given you the best settings to use and he recently updated the version and the settings. It's an EA that you set it and let it run, I don't think it's beneficial to tweak it alot.
Since Turbo came out, I did not buy it, what I do is put FMT on 2 separate GU charts, one starting at 6:00 and one to start at normal 6:30 London time. I got this idea from the way Turbo works, and my results have been better than just running FMT to start at 6:30.
I have shut down until Jan.5th, and will continue this strategy then, I doubt I will need Turbo, if you compare the 2 , FMT is doing ok.
cheers !
Hello "JDJD88"
If you click on "results" on the FMT website, you will see that last December the system lost 200 pips, so I don't think any facts are "hidden" from a prospective purchaser. Based on this information, you could have chosen not to purchase FMT or if you do decide to purchase, you can always choose not to trade during this month....
If you just give it time and stick around on the forum, you will find all the information you need from some very helpful people. Further, whenever I have contacted Mark, he has always got back to me promptly, so I don't see any issue here either.
Have courage and stick in there, in a few months time you may have a very different opinion of the system!
If you click on "results" on the FMT website, you will see that last December the system lost 200 pips, so I don't think any facts are "hidden" from a prospective purchaser. Based on this information, you could have chosen not to purchase FMT or if you do decide to purchase, you can always choose not to trade during this month....
If you just give it time and stick around on the forum, you will find all the information you need from some very helpful people. Further, whenever I have contacted Mark, he has always got back to me promptly, so I don't see any issue here either.
Have courage and stick in there, in a few months time you may have a very different opinion of the system!
Anyone trying to make money out of this market is gambling - nothing else. FMT and FM Turbo is a great EA and it has made me consistent profits. I have stopped trading since 13 December and will resume on 4 January. Mark will always answer your e-mail, I am sure he is sitting on the beach long ago!
wiseambitions
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1) I don't doubt the claims of the website. Indeed there are some losing months. Plenty very successful professionals still have losing months, even they profit significantly in the long run
2) Mark wrote a letter to all the members before December started hinting you might choose to stay away this month, or reduce lot size and risk
3) He publishes his own results and doesn't tinker with them. All his losing trades are still there to be seen, and can be substantiated
4) Mark participates occasionally in the discussions. Usually only when there is something he wants to say which he doesn't prefer to send by private emails to members only (seeing as the forum is public)
5) Yes, there's a development Turbo MT, but I don't get the feeling it has been launched only for commercial gain.
6) I think the discussions on the forum are forcing evolution of the system and Mark's development in software is being brought out to support this. However I don't think when he launched FMT he expected this to happen.
7) You could pay a lot more money to get products which try and do the same thing. And if you want your money back, such sites will just negotiate to extend the trial period, they are probably having a run of leavers. I am not aware of a long queue waiting to leave FMT
I have more than doubled my money since joining.
JDJD88
Mark is very transparent about his trading and has a daily trade log. I think the winning % was calculated once at around 72% I've never seen him claim almost no losses.
I think many are in agreement that the Christmas season and holidays in general are a bad tine to trade. Less liquidity. Unpredictable price action etc. So the recent losses are no surprise. I have a number of different TMT set-ups running on demo and every one has been a loser this week. Not unexpected.
Mark created TMT because many were asking him for more flexibility in settings.
Sandy
Mark is very transparent about his trading and has a daily trade log. I think the winning % was calculated once at around 72% I've never seen him claim almost no losses.
I think many are in agreement that the Christmas season and holidays in general are a bad tine to trade. Less liquidity. Unpredictable price action etc. So the recent losses are no surprise. I have a number of different TMT set-ups running on demo and every one has been a loser this week. Not unexpected.
Mark created TMT because many were asking him for more flexibility in settings.
Sandy
To all who were kind enough to take their time to reply to my lengthy post earlier today:
1. Thanks for taking the time.
2. Yes - I know December is not representative - I do not trade during this week either. My comments were based upon November - and beyond - AND those comments of "concern" written by other users over the past several months.
3. My concerns are universal and generic as they would be when I purchase anything and contrast what I received with what I was sold). In this case, I am simply contrasting what I read before I purchased (and what I read in the package) with what others say here (and my own limited experience thus far). Simply put - reality is a bit different from the absolute statements made.
For example: 1. website statement - "take you maximum 10 minutes a day giving you consistent profits month by month." Reality - clearly, profits are not "consistent" - as at least some purchasers would agree. 2. From the Manual - "The system is relatively simple to learn and to use; it is throughoughly tested and gives very good and stabile results. In fact, I had almost no loosing month for the last 20 months." Reality - would everyone attest to this in terms which are just as absolute?
It is less important to me that, as some responded to me earlier, that more recently Mark posted comments about being careful in December or that he is selling a new system that is the next generation and possibly not to gain profit (???). What matters most to me is claims made vs. results delivered. But....I am not forming any final conclusions yet.
4. My trading experience thus far with Mark's EA has been mixed. And I am not a newbie - having written well over a hundred algorithms (in Visual Basic / and another trading platform) in the past three years - generating as much as 420% in annual returns - in backtesting. (Then why did I buy this product you ask, if I am so successful? Simply because I am still learning - over-optimization has been a problem with system development (and most systems blew up), etc.
I hope I will always be open to learning new things and therefore am always receptive to other people's ideas and approaches - in this case Mark and FMT.
So...No need to reply or spend any more time with me. Again, I appreciate the time you all took to respond.
And as one poster suggested - I will hang in there and use Mark's tool diligently (giving both him and his product the benefit of the doubt) - and reserve final judgment until more time passes.
(I would ask Mark though, that again, rather than simply up-sell a new product - once issues can be found and corrected / improved in the existing FMT - that he make those available at no charge to existing customers - seems fair and reasonable to me anyway - and is the case with many other software vendors I use).
It is nice to see that Mark has supporters - he must be a nice guy. And I well know that "December doth not a trend make". I hope to be one one day as well.
Hope those of you who celebrate it have a safe and wonderful Christmas.
1. Thanks for taking the time.
2. Yes - I know December is not representative - I do not trade during this week either. My comments were based upon November - and beyond - AND those comments of "concern" written by other users over the past several months.
3. My concerns are universal and generic as they would be when I purchase anything and contrast what I received with what I was sold). In this case, I am simply contrasting what I read before I purchased (and what I read in the package) with what others say here (and my own limited experience thus far). Simply put - reality is a bit different from the absolute statements made.
For example: 1. website statement - "take you maximum 10 minutes a day giving you consistent profits month by month." Reality - clearly, profits are not "consistent" - as at least some purchasers would agree. 2. From the Manual - "The system is relatively simple to learn and to use; it is throughoughly tested and gives very good and stabile results. In fact, I had almost no loosing month for the last 20 months." Reality - would everyone attest to this in terms which are just as absolute?
It is less important to me that, as some responded to me earlier, that more recently Mark posted comments about being careful in December or that he is selling a new system that is the next generation and possibly not to gain profit (???). What matters most to me is claims made vs. results delivered. But....I am not forming any final conclusions yet.
4. My trading experience thus far with Mark's EA has been mixed. And I am not a newbie - having written well over a hundred algorithms (in Visual Basic / and another trading platform) in the past three years - generating as much as 420% in annual returns - in backtesting. (Then why did I buy this product you ask, if I am so successful? Simply because I am still learning - over-optimization has been a problem with system development (and most systems blew up), etc.
I hope I will always be open to learning new things and therefore am always receptive to other people's ideas and approaches - in this case Mark and FMT.
So...No need to reply or spend any more time with me. Again, I appreciate the time you all took to respond.
And as one poster suggested - I will hang in there and use Mark's tool diligently (giving both him and his product the benefit of the doubt) - and reserve final judgment until more time passes.
(I would ask Mark though, that again, rather than simply up-sell a new product - once issues can be found and corrected / improved in the existing FMT - that he make those available at no charge to existing customers - seems fair and reasonable to me anyway - and is the case with many other software vendors I use).
It is nice to see that Mark has supporters - he must be a nice guy. And I well know that "December doth not a trend make". I hope to be one one day as well.
Hope those of you who celebrate it have a safe and wonderful Christmas.
JDJD88,
Ok, but I think you missed a bit of the point, that at least I was making. ?
FMT has been updated , it IS optimized, the results ARE good, not as good in November, true !
TMT or Turbo is NOT an upsell of FMT, it is a new, different EA, you can trade them both if you want.
I have faith that Mark will keep both these EAs updated and optimized settings posted.
cheers !
Ok, but I think you missed a bit of the point, that at least I was making. ?
FMT has been updated , it IS optimized, the results ARE good, not as good in November, true !
TMT or Turbo is NOT an upsell of FMT, it is a new, different EA, you can trade them both if you want.
I have faith that Mark will keep both these EAs updated and optimized settings posted.
cheers !
antonio2010
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New to FMT, reading the manual and looking trades. My first doubt: the manual say trading hour is 5.30 GMT but read everywhere 6.30, why the difference?
AM
AM
because in the summer London goes on daylight saving time, 5:30 while GMT is still 6:30, but in winter both are 6:30 GMT and London time. FMT goes by London time, not GMT, therefore we use 5:30 in the summer same as London DST. Is that clear as mud..
antonio2010
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because in the summer London goes on daylight saving time, 5:30 while GMT is still 6:30, but in winter both are 6:30 GMT and London time. FMT goes by London time, not GMT, therefore we use 5:30 in the summer same as London DST. Is that clear as mud..
Hummm
No very easy for me, living in sunny (no today) Spain GMT+1.0 but with my pc clock set to GMT and betting on SLM GMT+1
So we are trading now at 6.30 GMT, ok? and need to change time in the summer?
Hummm
No very easy for me, living in sunny (no today) Spain GMT+1.0 but with my pc clock set to GMT and betting on SLM GMT+1
So we are trading now at 6.30 GMT, ok? and need to change time in the summer?
I don't remember 05:30 AM being mentioned anywhere in the PDF instructions, only 06:30 UK time.
If you are with Smart Live Markets, you should have your "Begin time" set to 07:30.
I believe that most, if not all brokers adjust their platform time in line with DST, so next March, you will probably not need to alter the time setting.
i have been trading live since about 9/15 with almost identical results as Mark and I am using a different broker. I am trading on a live account. You can't measure results on a one month basis. I did elect to stop trading for December on 12/14 as a full time trader I fully recognize that the markets do not have all the normal traders for about three weeks from middle of December through the first week of January. I like the fact that Mark trades it regardless. I have personally made over 400 pips so far. Granted if I would have traded since the 12/14 I would have given 120 of those back but we do not know what next week will bring.
IBFX and FOREX.com do not change their broker time for DST. It is always equal to GMT or GMT+0. London does observe DST so they are equal to GMT for 6 month of the year and 1 hour different the other 6 months, that is why we start FMT at 6:30 GMT in the fall and 5:30 GMT in the spring. It is confusing. I have to think it through. LOL
supertrader05
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That sounds pretty interesting.
I have been toying with the idea of buying the breakout of the asian range, if it happens before 06:30, and if the FMT indicators give a buy. Reverse for a sell.
How do you work with the two charts? If the 6.00 am chart gives a buy, do you take that, and then also take the 06:30 charts signal?
Thanks for your input
