Very wise
They do not celebrate it in the UK. Trade should well be over by then..
The only thing I've seen effect FMT is the last two weeks in December so trading as usual for the next 11 months. :clap:
With all that buying of the GBPUSD last week, I think we are due for a pullback. If we get a sell signal today, it should be a profitable one.
And it's currently pulling back and over 60 pips from weekly pivot point so as we can see, the indicators are coming down as well. The market likes touch the WPP too. Could be a good sell. Very soon to tell though.
wiseambitions
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it's going to be a close call again today! and I am often dubious of the charts on a Monday morning due to their statistical validity - as previously discussed
Anyway short signal came up and it did drop a bit immediately after that at 06.30
Anyway short signal came up and it did drop a bit immediately after that at 06.30
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deserteagle
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hit BE at Alpari UK
Same here
GU has been acting more erratic than a mad dog with rabies lately. Hope it settles down tomorrow, after the US holiday is over.
I am sure the US banks find a way to trade and move the London open on a regular business day. So US holidays probably still impact the London open.
I am sure the US banks find a way to trade and move the London open on a regular business day. So US holidays probably still impact the London open.
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antonio2010
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I am using FMT v4.2 and has'nt trade today. Any idea what can be the problem?
wiseambitions
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I expect if you research the prices of your broker at opening time the indicators didnt line up for a trade
Just as well because it's been a bad day
FMT for me today:
6:00 start, sell trade, hit SL=-44 pips
6:15 start, sell trade, hit BE+5 pips
6:30 start, sell trade, hit BE+5 pips
6:45 start, sell trade, hit SL=-44 pips
not a good start to the week, -78 pips..
the 6:15 and 6:30 trades were 2 pips from being a TP=30
the 6:00 and 6:45 trades were 2 pips from BE+5...
better luck tomorrow !..
6:00 start, sell trade, hit SL=-44 pips
6:15 start, sell trade, hit BE+5 pips
6:30 start, sell trade, hit BE+5 pips
6:45 start, sell trade, hit SL=-44 pips
not a good start to the week, -78 pips..
the 6:15 and 6:30 trades were 2 pips from being a TP=30
the 6:00 and 6:45 trades were 2 pips from BE+5...
better luck tomorrow !..
wiseambitions
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Yes, better luck tomorrow would be very welcome
The following information may be found useful (E&OE) considering the last 100 days on which my charts say I should have traded:
1) at 40TP 55 wins, 45 losses (at SL 40) Yielding 400 pips
2) at 35TP 60 wins, 40 losses (at SL 40) Yielding 500 pips
3) at 28TP 71 wins, 29 losses (at SL 40) Yielding 828 pips
Please don't rush to any conclusions, because previous returns at a time when the system was doing exceedlingly well (first seven months of 2010) were the other way around, the higher TP settings gave the best gains. The numbers shown above include the Christmas period when generally 200 pips were given away in crazy market conditions when prices were erratic.
The following information may be found useful (E&OE) considering the last 100 days on which my charts say I should have traded:
1) at 40TP 55 wins, 45 losses (at SL 40) Yielding 400 pips
2) at 35TP 60 wins, 40 losses (at SL 40) Yielding 500 pips
3) at 28TP 71 wins, 29 losses (at SL 40) Yielding 828 pips
Please don't rush to any conclusions, because previous returns at a time when the system was doing exceedlingly well (first seven months of 2010) were the other way around, the higher TP settings gave the best gains. The numbers shown above include the Christmas period when generally 200 pips were given away in crazy market conditions when prices were erratic.
And that validates why I like happy medium of TP of 35 pips. Somewhere in the middle of the road on both good months and bad months.
catfish911
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Hi,
Yes, trading seems to have been very choppy in the first two weeks of 2011, hopefully after the US holiday today we will be back to full GU liquidity/volume...
I've studied FMT performance Jan-10 to Dec-10 for GU, I found the optimum TP/SL settings for the year were TP = 30/SL = 48, yielding around 2,748 pips over the year. Note I did not include trading after Fri 17-Dec-10 (good job!), and no trailing stop, just plain TP/SL entry on order open. 2010 for me showed 193 trades, 154 wins and 39 losses, so running at 80% win rate. Using TP = 38/SL = 35 yielded 2,078 pips, but win rate fell to 63% and the equity growth was more jagged than the TP = 30/SL = 48 setting.
I know this is not a good risk ratio at 0.63, but due to high win rate it does produce a smooth growth curve, with the only month of loss in May-10 with -52 pips (due to only instance in year of 4 consecutive losses). Just my opinion of course, always test the optimum settings yourself! Let's hope 2011 trading settles down and FMT does as well as 2010! This time next year, Rodney, we'll all be millionaires...
