ForexMorningTrade System

[FXCO]

I remember the good old days back in Sept and Oct when FMT was first released. It seems we always got out with a nice profit before the news at 9:30 GMT was ever released. Hopefully those days will be coming back soon since we are done with the two worst months of the year for FMT - Dec and Jan.
🙂

hope so too

 

[trader578]

I am long at 1.6158 at 6:30. I like how FMT got in on the pullback from the recent high. Hopefully it keeps going up now.

 

[PipZombie]

+35 pips on Forex.com and IBFX live accounts.

 

[joke]

30 pips..live..FXDD..EA...2 days in a row winners.

 

[Jashfx]

+ 35 Alpari -- nice trade today. Always felt comfortable with today's trade. In at the dip and trend continued.

 

[wiseambitions]

A nice win

Results from the last 100 trading days, including the bad ones, arising between mid August and now:

1) at 40/40 +560 pips 57% Winners

2) at 28TP/40SL +760 pips 70% winners

Out of the latest 50 days with trades, 52% would have been winners at setting 1, 60% at the other
150 to 200 pips were to be retained by not trading the couple of weeks over Christmas so the chances are high that some of us did rather better than these numbers suggest

 

[catfish911]

I remember the good old days back in Sept and Oct when FMT was first released. It seems we always got out with a nice profit before the news at 9:30 GMT was ever released. Hopefully those days will be coming back soon since we are done with the two worst months of the year for FMT - Dec and Jan.
🙂

Actually I found that May-09 and May-10 were the only two losing months on my backtests over 2 years (TP30/SL48, no BE), although Jan-11 was a small loss also. I see that worst performance for 09/10 was Jan to May period, from Jun to Nov was better, Dec I would only trade up to the end of the second week, in which case it was profitable. I share your sentiment that I hope FMT is getting back in it's stride after a rocky January, good luck all

 

[hammy66]

FMT for me today:

6:00 start, buy trade, hit TP +23 pips
6:15 start, buy trade, hit TP +25 pips
6:30 start, buy trade, hit TP +30 pips

total today +78 pips profit...

 

[billcurry]

Long trade
First TP hit at +35 pips (75% of position)
2nd BE hit at +15 pips (25% of position)
Total growth of account: +15.8%
Growth since beginning of month: +27.1%

Edit: Thought I should mention to you all that I e-mailed Mark about some other things and I told him that he should stop by the forums. This was his response:

As for the forum, I don't have time to watch it very closely now, I think the results of the system will speak for themselves, but I'll add some post there soon.

 

[wiseambitions]

Long trade
First TP hit at +35 pips (75% of position)
2nd BE hit at +15 pips (25% of position)
Total growth of account: +15.8%
Growth since beginning of month: +27.1%

Edit: Thought I should mention to you all that I e-mailed Mark about some other things and I told him that he should stop by the forums. This was his response:

Well done

Since you speak of 27.1% growth in the month, may I enquire your % risk per trade?

 

[billcurry]

Well done

Since you speak of 27.1% growth in the month, may I enquire your % risk per trade?

A ridiculous amount that no sane person should ever try. 22%.

Here's my first post about my strategy (I've since switched from FMT to TMT).
Here's me explaining how I can lose more consecutive trades than it sounds.
Here's a backtest I've ran for 2010 with my settings with TMT, plus some of my own modifications. Note the 99% modeling accuracy.



Keep in mind that that backtest is absolutely retarded and I would never, ever risk that much with that large of an account, and I don't think a broker could handle that much. It's just a proof of concept. Also, you won't be able to replicate these results without my modifications. Here are the results with the vanilla EA:

 

[wiseambitions]

A ridiculous amount that no sane person should ever try. 22%.

Here's my first post about my strategy (I've since switched from FMT to TMT).
Here's me explaining how I can lose more consecutive trades than it sounds.
Here's a backtest I've ran for 2010 with my settings with TMT, plus some of my own modifications. Note the 99% modeling accuracy.



Keep in mind that that backtest is absolutely retarded and I would never, ever risk that much with that large of an account, and I don't think a broker could handle that much. It's just a proof of concept. Also, you won't be able to replicate these results without my modifications. Here are the results with the vanilla EA:

Many thanks, and all most interesting

I don't doubt any of your maths, I have actually run similar tests.

And also I agree the risk is wild and although even the last 2 weeks of December would not have blown the account entirely, there's a possibility not only of several consecutive losses, but also that the Stop Losses would be missed by slippage adding to the probability of striking disaster.

Also like you say, there's a point where the lot size would be too big for one broker (mine apparently stops at 2000 micro-lots (!) ) and in any case you'd probably move the world markets by trying to trade at 06.30GMT

Still, the odds of succeeding are still probably greater than winning the lottery, only with money you can afford to lose. Most professionals would say never risk more than 5% per trade. I notice Mark's calculations are most often based on 2%.

 

[billcurry]

Many thanks, and all most interesting

I don't doubt any of your maths, I have actually run similar tests.

And also I agree the risk is wild and although even the last 2 weeks of December would not have blown the account entirely, there's a possibility not only of several consecutive losses, but also that the Stop Losses would be missed by slippage adding to the probability of striking disaster.

I'd never trade in December or January (which you can see in my backtests), however I would actually be able to survive more consecutive losses than you'd think due to compounded risk/trade and MM. Instead of five consecutive losing trades, I can actually survive more than a dozen, although the chance of that happening is very unlikely.

Also like you say, there's a point where the lot size would be too big for one broker (mine apparently stops at 2000 micro-lots (!) ) and in any case you'd probably move the world markets by trying to trade at 06.30GMT

My broker's max is 40 standard lots per position. One of the modifications I made to the EA is to find the max size per position for your broker and if the risk/trade lot size is larger than that, then open up multiple positions. That is why there is such a significant difference in the two backtests I linked earlier. I start hitting the max size per position (40 lots) with 22% risk/trade at around $100,000.

Still, the odds of succeeding are still probably greater than winning the lottery, only with money you can afford to lose. Most professionals would say never risk more than 5% per trade. I notice Mark's calculations are most often based on 2%.

I completely agree, which is why I'm mostly writing this off as an experiment and I don't recommend anyone try this with money they can't afford to lose.

 

[wiseambitions]

I would actually be able to survive more consecutive losses than you'd think due to compounded risk/trade and MM. Instead of five consecutive losing trades, I can actually survive more than a dozen, although the chance of that happening is very unlikely.


I start hitting the max size per position (40 lots) with 22% risk/trade at around $100,000.



I completely agree, which is why I'm mostly writing this off as an experiment and I don't recommend anyone try this with money they can't afford to lose.

I think after about 5 consecutive losses losing 20% of the decreasing balance, one would be crying in the sink. Hopefully that is very unlikely and in looking at 4 years price data I can only see one or two chances for that to happen. But the other bad experience is slippage. I gained about 6 pips yesterday due to slippage, but I could easily have lost that or more because the price can move by about 100 pips in a few seconds and the software has to sort out your price.

I have had experience when trying to deal with big lot size that one doesn't just get closed at the order price instantly upon pressing a button, even a main broking company's platform at pre London opening times has told me to wait while it collects prices from the market and then offers me a deal with a few seconds to accept or reject the price.

It's an interesting experiment all the same

 

[RedGuerrilla]

Stats for 02-02-2011



'Live' Accounts:

FMT 4.2, FXSolutions, dealing desk, Long/Profit, 1.6159, 1.6194, +35.0 pips
My stats since 11-08-2010: 13 No Trades, 16 Break Evens, 17 Losses, 16 Profits, Total: -141.0 pips
Pips include slippage, using EA standard settings: 40 SL, 20 BE, 35 TP

FMT 4.2, IBFX, non-dealing desk, Long/Profit, 1.61588, 1.61935, +34.7 pips
My stats since 01-04-2010: 6 No Trades, 6 Break Evens, 5 Loss, 5 Profits, Total: -36.3 pips
Pips include slippage, using EA standard settings: 40 SL, 20 BE, 35 TP



Demo Accounts:

FMT 4.2, non-dealing desk brokers, 5:Long/Profit
PFG Best, 1.61584, 1.61936, +35.2
FOREX.com, 1.61586, 1.61938, +35.2
FXCM, 1.61587, 1.61924, +33.7
Alpari(US), 1.61581, 1.61932, +35.1
FXDD, 1.61595, 1.61948, +35.3



Testing new tweaked settings, based on back testing. For more details, see Post #5659, page 708:

FMT 4.2 EA, GU M15 Chart, UK time zone.
Using PFG Best Demo Account, Settings: SL=40, TP=30, BE=20, BE+5 pips
6:15 start, buy trade, 1.61580, 1.61893, hit TP= +31.3 pips ... 🙂
My stats since 01-20-2011: Total: +64.9 pips



Testing other systems, subject to back testing.
Lost my back testing system, and I don't have time right now to get it back.

FMT 4.2 EA, GU M15 Chart, UK time zone.
Using PFG Best Demo Account, Settings: SL=40, TP=30, BE=20, BE+5 pips
15:15 start, buy trade, 1.62058, 1.61907, hit SL= -40.5 pips ... :-(
My stats since 02-01-2011: Total: -10.3 pips

FMT 4.2 EA, EU M15 Chart, UK time zone.
Using PFG Best Demo Account, Settings: SL=40, TP=30, BE=20, BE+5 pips
15:15 start, sell trade, 1.38033, 1.37983, hit BE= +5.0 pips ... 🙂
My stats since 02-01-2011: Total: +37.1 pips

 

[RedGuerrilla]

FMT for me today:

6:00 start, buy trade, hit TP +23 pips
6:15 start, buy trade, hit TP +25 pips
6:30 start, buy trade, hit TP +30 pips

total today +78 pips profit...

hammy66 you're doing really good!
I added your totals since you started your new system on 01-28-2011, you're at a grand total of +228 pips ... 🙂

How did you decide on your new settings?
Are you trying your new setting a 'live' account?

 

[wiseambitions]

No trade Wednesday @ 06.30 by a very thin margin. One indicator is well up but the other is south of the line and at 06.31 even pointing downwards again. Hope FMT system is keeping us out of trouble if we stay away b

 

[bcole077]

I've found an interesting site. They are offering methods that use no indicator or ea, yet you can earn 50-100 pips daily. I have just downloaded it and testing it. I made around 78 pips in 2 days. Site is 3aces4fx.com

Keep us posted

Barry

 

[wiseambitions]

I've found an interesting site. They are offering methods that use no indicator or ea, yet you can earn 50-100 pips daily. I have just downloaded it and testing it. I made around 78 pips in 2 days.

$198 sounds a bit steep to me - Where's the track record? 👎 SPAM?
I noticed that when Mark advertised FMT online he had a guy Russ Horn prepare a video for him, which supports what we do, and this then led me to the Russ Horn's Forex Rebellion website.

I haven't tried the Rebellion system but I'm fairly sure what most of his indicators are based around. I'm also pretty sure he talks a lot of sense and that also is not black box stuff. And half the cost of $198 for any punters, not that I have any intention whatever right now of giving it a try.

Russ Horn speaks with praise of FMT as a beautiful simple reliable system, and I'm sure he meant it, and meanwhile I'm happy to stay with what I know

 

[chrisheath]

Hi Abhi,

ABHIJIT KULKARNI , if its you, I'm not sure you should post your commerce here, but thanks for the heads up.
Regards, Chris