ForexMorningTrade System

[fais79]

Hello Guys,

I have setup my EA and keep getting this: Error:128,trade timeout,Order opened,SL/PT set. All OK

There is a smiley face which suppose to mean everything is set correct. I keep getting the above message and trade doesnt open..

Any clues?

 

[hammy66]

Hello Guys,

I have setup my EA and keep getting this: Error:128,trade timeout,Order opened,SL/PT set. All OK

There is a smiley face which suppose to mean everything is set correct. I keep getting the above message and trade doesnt open..

Any clues?

ya, your broker is screwing around with you !..
Trade probably opened at 6:31 instead of 6:30...right ?

On some days this broker will delay long enough to miss the trade.
Look for a better broker , if this happens alot..

cheers !..

 

[fais79]

ya, your broker is screwing around with you !..
Trade probably opened at 6:31 instead of 6:30...right ?

On some days this broker will delay long enough to miss the trade.
Look for a better broker , if this happens alot..

cheers !..

yes the trade opened at 6:31

 

[fais79]

I'm using Alpari..

You recommend any brokers?

 

[Lady Forex]

If you want the EA to match what is appearing on your screen you need to make sure the chart template and indicator settings match the EA settings. This is what produces the BLUE stripe down the middle of your screeen so that it matches your EA. You don't have to have the FMT chart template on to run the EA.

Your EA is working behind the scenes and is independent of the indicator in the MT4 charting platform.

To check your settings for your chart template and FMT indicators do the following:
1. make sure you are on your FMT gbpusd chart.
2. select "charts" from the menu at the top of the page.
3. select "indicator list"
4. choose the "FxMorningTrade" indicator and "edit" it.
5. Make sure the Begin Time, End Time, Stoploss and Profit Target Pips match your EA setttings. This again does not affect the EA from trading, it just makes sure "visually" that the trade matches your Chart Start Time, Profit Target and Stoploss settings.
6. select "ok" when you are done with your settings. It now should always match your EA.

Yes, I did double check all this. For some reason I was thinking the trade was going to come out at 1:30 my time and it came out at 1AM my time. I suspect that I did not look for the trade on the indicator until after the 15 minute candle closed, therefore, it had already reset.

 

[maggieo]

The EA opened my trade 30 minutes early. I do have the 30 minutes filled in (in the correct box). Once again what do I need to do.

I'd like to jump in here and than you as well. This is helpful information as I just downloaded the robot. It did well for me today.

Thanks again and Happy New Year

 

[hammy66]

I'm using Alpari..

You recommend any brokers?

did you mean Alpari-UK ? ..actually they aren't too bad, better than Alpari-US.
Your problem can happen with any broker, but if it happens more than once a month, look for another broker. I personally like Forex.com-UK and TadawulFx.

good luck !..

 

[buddhi]

I did three month backtesting on the QQE. For the QQE had to be a buy i required the QQE to be above the signal line and both to be above 50 to take the trade (just the opposite for a sell). It did filter out the losses but it also filtered out winners. Since this is a 70/30 win rate strategy it in Oct and Nov filtered out more winners than losers so the results actually worsened. It did make december a 50/50 month..I would have to say that the QQE does have some merrit for december results but overall it will hurt a winning system. I will play around with more settings but I think the QQE is not the answer. The problem with the FMT has been those pretrade big moves that put the trade bias overbought or oversold so to speak. Any suggestions, maybe bluedancer can provide some insight to test an overbought or oversold filter. I don't like stochastics or RSI for this as it in my opinion only works well in ranging markets.

thank-you for your very good work on the QQE. it's very hard to improve on FMT; just having a positive expectancy EA is extremely unusual. i've thought about a volume filter, but there isn't much pre-trade volume at 6:30.

i wonder how two trade signals in a row would work. for example: 6:15 signal says long but the trade waits until that long signal is confirmed by another long signal at 6:30.

 

[buddhi]

did you mean Alpari-UK ? ..actually they aren't too bad, better than Alpari-US.
Your problem can happen with any broker, but if it happens more than once a month, look for another broker. I personally like Forex.com-UK and TadawulFx.

good luck !..

have you noticed that if you type in "alparifx.com" you go to fxcm?

 

[brucer]

ya, your broker is screwing around with you !..
Trade probably opened at 6:31 instead of 6:30...right ?

On some days this broker will delay long enough to miss the trade.
Look for a better broker , if this happens alot..

cheers !..

Could you explain a little further? I have noticed similar Error messages, I'm using Alpari UK Demo and intend to start trading once the silly season is behind us, so it will then become relevant. I didn't take note of the error messages or when, and only recall that the end was 'OK' so noted it with curiosity.
Looking at the timing of trades, as follows:
29-12 07:31 and trade was placed - Mark got a No Trade (it won)
30-12 07:32 and trade was placed
I'm sure at least one of these had an error message similar to that experienced by fais.
all others have been at 07:30.

Why is it in the broker's interests to delay a trade so it is missed?
In the two examples above, both were late, but placed, one of which I believe showed an error but 'OK'.
Thanks in advance

 

[hammy66]

Could you explain a little further? I have noticed similar Error messages, I'm using Alpari UK Demo and intend to start trading once the silly season is behind us, so it will then become relevant. I didn't take note of the error messages or when, and only recall that the end was 'OK' so noted it with curiosity.
Looking at the timing of trades, as follows:
29-12 07:31 and trade was placed - Mark got a No Trade (it won)
30-12 07:32 and trade was placed
I'm sure at least one of these had an error message similar to that experienced by fais.
all others have been at 07:30.

Why is it in the broker's interests to delay a trade so it is missed?
In the two examples above, both were late, but placed, one of which I believe showed an error but 'OK'.
Thanks in advance

if you look in the 'journal' of your MT4, you will likely see a 're-quote' or 2 causing the delay before the trade was actually taken. I have seen a difference of 10 pips in that 1 minute delay, causing you to miss your TP or BE and resulting in a SL that you should not have suffered. Of course it could happen that the delay helped you get in at a better price and gave you a good result. But FMT is designed by Mark to trade at exactly 6:30 London time and that's what your broker should be giving you.

cheers !..

 

[PipZombie]

Yes, I did double check all this. For some reason I was thinking the trade was going to come out at 1:30 my time and it came out at 1AM my time. I suspect that I did not look for the trade on the indicator until after the 15 minute candle closed, therefore, it had already reset.

The trade should have come out at 1:30 EST or 6:30 GMT if you have your settings correctly. I can understand getting the hour wrong but the EA should open on the half hour if you have :30 in your settting for the hour. Can you list your ea settings eactly so we can review. Just copy and paste them to the forum.

 

[busfarehome]

Do any of you use FMT without running Metatrader 4?

I am unfamiliar with it and currently using a demo FX account which I plan on using for a few months.
Is there any reason why the FMT system has a limited life expectancy? I mean I would hope to be able to use it when I go live.

 

[Tenapenny]

Hi and welcome to the forum. To answer your question, all systems will have a limited life expectancy as markets change. However, FMT can be adapted as things progress. In fact, Mark has changed settings slightly since launch so don't worry about it being obsolete within a few months.

You can use FMT without running MT4 but you will not be able to use the EA so you would have to enter manually at 06.30 providing the signals are for a trade.

I read your other posts re demo and will try to answer here. Any SB co should give you a free demo account although some may be time limited. If you are unsure about using MT4 but want to learn a bit more, why not open a demo SB account with Smart Live Markets, see here http://www.smartlivemarkets.co.uk/pages/spread-betting/why-spread-betting.aspx#

As far as I know, they are the only ones using MT4 for spread betting and even if you don't go live with them it will teach you a bit about using MT4.

 

[wiseambitions]

To answer your question, all systems will have a limited life expectancy as markets change. However, FMT can be adapted as things progress.

Is there any logical reason to believe FMT will cease to operate good in future? There are two bits to it. One is the principle that prices have been observed to follow a certain habit at the times of entry for many years. Why should this stop now? The second is the bit about FMT custom indicators which should in theory give you the right call whatever the currency pair and time.

The main adaptation I believe is the target exit point. For example 40TP has been revised to 35, and no doubt may be revised again in future. I have heard that a competitor's system is currently failing to deliver good results because they are hanging in the trade for a higher TP which is not getting delivered in current market conditions. Consequently they are getting stopped out more often with a loss.

Yes I have read previous comments suggesting that FMT would have not worked well in gone by years, but it might still have been profitable with lower targets.

Let's therefore hope the convincing results of the last 2 years are repeated and that all adherents enjoy success in 2011.

 

[Tenapenny]

Is there any logical reason to believe FMT will cease to operate good in future? There are two bits to it. One is the principle that prices have been observed to follow a certain habit at the times of entry for many years. Why should this stop now? The second is the bit about FMT custom indicators which should in theory give you the right call whatever the currency pair and time.

The main adaptation I believe is the target exit point. For example 40TP has been revised to 35, and no doubt may be revised again in future. I have heard that a competitor's system is currently failing to deliver good results because they are hanging in the trade for a higher TP which is not getting delivered in current market conditions. Consequently they are getting stopped out more often with a loss.

Yes I have read previous comments suggesting that FMT would have not worked well in gone by years, but it might still have been profitable with lower targets.

Let's therefore hope the convincing results of the last 2 years are repeated and that all adherents enjoy success in 2011.

Agreed. As traders, we have to adapt and at the moment FMT is a good weapon to have in your armoury. Who knows, in 6 months time it may not work, but for me it's paid for itself many times over. As long as we use sensible MM I see no reason to think it will fail any time soon.

 

[busfarehome]

Hi and welcome to the forum. To answer your question, all systems will have a limited life expectancy as markets change. However, FMT can be adapted as things progress. In fact, Mark has changed settings slightly since launch so don't worry about it being obsolete within a few months.

You can use FMT without running MT4 but you will not be able to use the EA so you would have to enter manually at 06.30 providing the signals are for a trade.

I read your other posts re demo and will try to answer here. Any SB co should give you a free demo account although some may be time limited. If you are unsure about using MT4 but want to learn a bit more, why not open a demo SB account with Smart Live Markets, see here http://www.smartlivemarkets.co.uk/pages/spread-betting/why-spread-betting.aspx#

As far as I know, they are the only ones using MT4 for spread betting and even if you don't go live with them it will teach you a bit about using MT4.

Tenapenny, thanks for taking the time to reply, I appreciate it.
I am able to be at the PC to enter manually at 6:30 and would prefer to do it this way at least for a couple of weeks.

Thanks for mentioning smartlivemarkets, I have just signed up for a demo account there and downloaded the MT4 template so am having a look around and trying to familiarising myself with it.

I had got used to using Finspreads trading platform and thier charts but keep seeing reference to MT4 on this site so would like to become proficient with using it.
As far as I can see I just sign into MT4 and am able to trade there via SLM.

I did e-mail Mark yasterday and intend purchasing FMT. I understand there is no hard copy sent so if I was to buy a laptop in a couple of months time could I also download FMT onto that without extra cost?

 

[RedGuerrilla]

Happy New Year!

Should the TP rule of 35 pips be changed back to 40 pips?

I did a quick back test of all the ‘Live’ Profits for Nov and Dec, when the TP rule of 35 pips was in effect.
This is what I got:

Date: Signal Price at TP=35 pips – Price high or low after 35 pips = Total pips after 35 pips

4-Nov: Long 1.6161 - 1.6204 = 43
5-Nov: Short 1.6192 – 1.6169 = 23
9-Nov: Short 1.6084 – 1.6072 = 12
15-Nov: Short 1.6080 – 1.6040 = 40
19-Nov: Long 1.6075 – 1.6092 = 17
22-Nov: Long 1.6056 – 1.6065 = 9
2-Dec: Long 1.5657 – 1.5665 = 8
3-Dec: Long 1.5664 – 1.5680 = 16
7-Dec: Long 1.5780 – 1.5816 = 36
10-Dec: Long 1.5828 – 1.5850 = 22
20-Dec: Long 1.5556 – 1.5565 = 9
31-Dec: Long 1.5502 – 1.5663 = 161

In each case, at least with my broker - FXSolution, if the TP had been set at 40 pips instead of 35 pips,
I would have made an extra 60 pips. (12 Profits x 5 pips = 60 pips

 

[Tenapenny]

Tenapenny, thanks for taking the time to reply, I appreciate it.
I am able to be at the PC to enter manually at 6:30 and would prefer to do it this way at least for a couple of weeks.

Thanks for mentioning smartlivemarkets, I have just signed up for a demo account there and downloaded the MT4 template so am having a look around and trying to familiarising myself with it.

I had got used to using Finspreads trading platform and thier charts but keep seeing reference to MT4 on this site so would like to become proficient with using it.
As far as I can see I just sign into MT4 and am able to trade there via SLM.

I did e-mail Mark yasterday and intend purchasing FMT. I understand there is no hard copy sent so if I was to buy a laptop in a couple of months time could I also download FMT onto that without extra cost?

Once you are a paid up member then you can login with your password to the members area at http://www.forexmorningtrade.com and download to your new laptop at no extra charge.

 

[busfarehome]

I purchased the FMT system manual and have a question for those of you in the UK, have you reset the times to BeginTime 07:30, and EndTime to two hours later (09:30) in the "custom indicator FXmorningtrade" as described in the manual?

I am using MT4 through a smartlivemarkets demo account.