ForexMorningTrade System

[redlion]

Hi.
So I add my results.
Trading FMT 4.1 EA 6.15GMT TP35 SL40 BE20 +5pips, Alpari UK Live
02.07.06 [email protected] ,[email protected] +35pips

Regards

 

[deserteagle]

Hi Deserteagle,
Although your settings seem to be better than standard settings, backtests of 55SL 43TP 20BE seem to be even better for 2010. Just thought I would share because I think I will be using these instead.
Cheers

Let's discuss!

I have run an optimization process from 01.01.2010 to 17.12.2010, then I took the sets with better results and backtested them.

In the attached file you have the best sets for 2010 I have found.
Please consider the model quality is 90% and metaquotes data have some gaps.

It seems the set 55SL 43TP 20BE did not do better than 65SL 43TP 20BE, but there is a interesting set which I like it: 50SL 40TP 20BE, it has the small Gross Loss, the best Profit Factor, and a reduced DD.

Which set do you like and why? Everyone is invited

 

[paulcu]

hi deserteagle,
thanks for posting those results. i notice you have 'money management' switched off on those back-tests - just wondering if its been established that money management is not profitable in the long run or was it just easier to measure the results with it switched off.

Let's discuss!

I have run an optimization process from 01.01.2010 to 17.12.2010, then I took the sets with better results and backtested them.

In the attached file you have the best sets for 2010 I have found.
Please consider the model quality is 90% and metaquotes data have some gaps.

It seems the set 55SL 43TP 20BE did not do better than 65SL 43TP 20BE, but there is a interesting set which I like it: 50SL 40TP 20BE, it has the small Gross Loss, the best Profit Factor, and a reduced DD.

Which set do you like and why? Everyone is invited

 

[PipsDaily]

I am too following the system but it has its bad days...

One question: Other than FMT, how much Pips do you guys target for a day

And realistically how many Pips a day should keep us happy to follow a particular system?

 

[wiseambitions]

I am too following the system but it has its bad days...

One question: Other than FMT, how much Pips do you guys target for a day

And realistically how many Pips a day should keep us happy to follow a particular system?

Surely this depends on the risk/reward ratio and % risk per trade

If one accepted 50SL then one would need 50 pips profits more often than losses.

I have noted that since the start of 2010 (13 and a bit months) there have been about 200 days where signals to trade existed. About 20 to 25% of the time FMT doesn't call a trade, but on those 200 days, depending on the settings, there were approximately 1800 to 2000 pips of net gain to be had. This makes an average gain of around 9 to 10 pips per session.

Relative to a TP of say 40 this doesn't sound much, but put it into the context of 5 per cent risk per trade, and even without compounding 2000 pips in a little over a year would in theory (say at 40TP/40SL) allow 250 per cent return on capital. And for a more conservative money management policy of 2 % risk per trade that's still 100 per cent return on capital. Seems pretty good to me! And it ought to eliminate any concerns that 9 or 10 pips a day isn't enough. If such gains were compounded it shouldn't take very long to grow enough wealth to buy your own castle.

 

[lvelho]

@poppygirl
Thanks. Set is 65SL, 43TP and 20BE, fixed at 6:30.

@michaelhryu
My backtest was from January to November, but I wish to include last months as soon as possible.

@trader578
Thanks for sharing that info! I will test it.

@lvelho
Yes, summer/winter time is considered.

Thanks deserteagle,

As far as I understood, for each year you break the backtest in two parts: winter period/winter time and summer period/summer time and for each period (winter/summer) have the trouble to adjust starting hour accordingly. This would mean that you are just able to perform backtests for six month period in a row.

Am I reading it correctly ?
Thanks
Luís

 

[lvelho]

As I see it, it depends if the broker changes the server time at the same time as the clocks change. If so, it makes no difference. However, if the broker stays on gmt all year round, then this would mean the start time would need adjusting during backtesting for summer and winter time.

Thanks.

 

[lvelho]

Let's discuss!

I have run an optimization process from 01.01.2010 to 17.12.2010, then I took the sets with better results and backtested them.

In the attached file you have the best sets for 2010 I have found.
Please consider the model quality is 90% and metaquotes data have some gaps.

It seems the set 55SL 43TP 20BE did not do better than 65SL 43TP 20BE, but there is a interesting set which I like it: 50SL 40TP 20BE, it has the small Gross Loss, the best Profit Factor, and a reduced DD.

Which set do you like and why? Everyone is invited

Hello Deserteagle,

As interesting what set we like, is why you preferred SL =65 and PT=43, as this is doesnt' seem obvious. For me, forgetting the emotion of an larget SL, I would prefer SL=68 and PT=42. Better accuracy in % of profitable trades, still high profit factor and higher net profit...

Can you unveil why have you chosen SL=65 and PT=43 ?

Thank you
Luís

 

[RedGuerrilla]

Stats for 02-07-2011



'Live' Accounts:

FMT 4.2, FXSolutions, dealing desk, Long/Profit, 1.6139, 1.6174, +35.0 pips
My stats since 11-08-2010: 14 No Trades, 17 Break Evens, 17 Losses, 17 Profits, Total: -106.0 pips
Pips include slippage, using EA standard settings: 40 SL, 20 BE, 35 TP

FMT 4.2, IBFX, non-dealing desk, Long/Profit, 1.61390, 1.61745, +35.5 pips
My stats since 01-04-2010: 7 No Trades, 6 Break Evens, 5 Loss, 7 Profits, Total: +36.0 pips (Corrected)
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, 1.61380, 1.61730, +35.0
FOREX.com, 1.61383, 1.61744, +36.1
FXCM, 1.61399, 1.61760, +36.1
Alpari(US), 1.61384, 1.61734, +35.0
FXDD, 1.61385, 1.61745, +36.0



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

FMT 4.2 EA, GBPUSD 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, 1.61382, 1.61689, hit TP= +30.7 pips ...
My stats since 01-20-2011: Total: +95.6 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, GBPUSD M15 Chart, UK time zone.
Using PFG Best Demo Account, Settings: SL=40, TP=30, BE=20, BE+5 pips
13:15 start, buy trade, 1.61346, 1.60946, hit SL= -40.0 pips ... :-(
My stats since 02-01-2011: Total: -93.0 pips

FMT 4.2 EA, EURUSD M15 Chart, UK time zone.
Using PFG Best Demo Account, Settings: SL=40, TP=30, BE=20, BE+5 pips
13:15 start, sell trade, 1.35525, 1.35216, hit TP= +30.9 pips ...
My stats since 02-01-2011: Total: +56.0 pips

FMT 4.2 EA, EURUSD/USDCHF M15 Chart, UK time zone.
Using PFG Best Demo Account, Settings: SL=20, TP=7, BE=0
23:00 start, EURUSD, no trade, 0.0
23:00 start, USDCHF 0.95559, 0.95487, hit TP= 7.54 pips
Total for both trades: +7.54 pips ...
My stats since 02-03-2011: Total: +10.39 pips

 

[ihelfman]

Good affordable VPS needed

Gallant VPS, which is free from Alpari, is a pain in the neck. It repeatedly forces me to keep cleaning my cache and history. Can anyone recommend an affordable alternative that runs smoothly on a Mac?

 

[wiseambitions]

Let's discuss!

I have run an optimization process from 01.01.2010 to 17.12.2010, then I took the sets with better results and backtested them.

In the attached file you have the best sets for 2010 I have found.
Please consider the model quality is 90% and metaquotes data have some gaps.

It seems the set 55SL 43TP 20BE did not do better than 65SL 43TP 20BE, but there is a interesting set which I like it: 50SL 40TP 20BE, it has the small Gross Loss, the best Profit Factor, and a reduced DD.

Which set do you like and why? Everyone is invited

As a point of comparison, I would be interested if you were able to add to this data the results which the same data backtest would give to 40TP/40SL without BE resets.

My interest in this is that it has been said the model quality is 90%, and we could then see how the result compared with the statistics Mark Fric came up with when he simulated FMT performance. There will be some difference. We don't need to get into debate as to whether or not the whole backtest is fair due to less than 100% model quality, but when the data is juxtaposed with standard settings it would help us all decide the likely extent to which your settings might offer an improvement.

Thank you for all your hard work on this

 

[40pips]

Trading on Alpari. I've anticipated entering trades at 6:30 (with TMT also), 6:15. But i only got trade at 6:15. Checked the Experts and Journal tab. There is no errors. And FMT EA in comments tag wrote : Error Cannot open trade, context is permanently busy.

 

[busfarehome]

Long signal on GBP/USD.

Thought I would try EUR/USD too this morning ang have a long signal.

Anyone else here use the FMT EA with a spreadbetting account?
All the parameters are fine except it only stakes 50p whatever I put in the "lots" section.
What should I set "lots" to if I want to stake £1 a pip?

Please ignore this post, I hate it when someone replies.

 

[Tenapenny]

Hi Tenapenny, are you trading live/demo, your results are good for sure, which broker you are dealing with

Thanks & Regards

Hi, I've been using SLM MT4 spreadbet account for FMT since middle of last year. Started off demo but now live but I still keep the demo account going as well.

 

[doyathink]

Trading on Alpari. I've anticipated entering trades at 6:30 (with TMT also), 6:15. But i only got trade at 6:15. Checked the Experts and Journal tab. There is no errors. And FMT EA in comments tag wrote : Error Cannot open trade, context is permanently busy.

I have the same issue on thecollective.fx...

weird.

 

[wiseambitions]

this one is not going in our favour

 

[deserteagle]

@paulcu
I switch off MM just in order to read the results easier and for comparion reasons.

@lvelho
AlpariUK changes the server time at the same time than London, there is not need to split the backtesting in two periods.
I use 65SL and 43TP because I have selected this set in November when it was the best set in that backtesting processes. I'm thinking now to follow other sets in Forward to see how they do.

@wiseambitions
Ok, I will add 40/40 without BE.

Regards

 

[Remraf]

Re: Good affordable VPS needed

Gallant VPS, which is free from Alpari, is a pain in the neck. It repeatedly forces me to keep cleaning my cache and history. Can anyone recommend an affordable alternative that runs smoothly on a Mac?

Im currently using ThinkForex as a Demo account, seems reliable, has been getting me in and out close to the FMT signals, although I've not compared it to others, although it's on Mark's list of 3 in V.4.2 (others being Alpari and FXOpen). They have just sent me an e-mail promoting an offer to add 20% to a transferred deposit for new accounts (with conditions obviously) www.thinkforex.com/landing/brokerswitch/ . Provide free VPS on live accounts. Don't know if it runs on a MAC.

 

[40pips]

I'm closed 3 trades. One was opened by EA other two manually. Closed early couse of price action. All closed at sum +17 pips.

 

[wiseambitions]

SL. 40 hit

Of the last 100 trades (inc Christmas) arising since the middle of August 2010.

1) at 40TP/40SL 58 wins, +640 pips

2) at 28TP/40SL 71 wins, +828 pips

Most of the above were based on real trades, at my own broker's price, refined here without slippage, I did not pick up all the same trades and outcomes as Mark. No break-even resets.

Of the last 200 trades (arising since January 2010) - mainly incorporating Alpari demo data

1) at 40TP/40sl 61.5% winners, +1840 pips

2) at 28TP/40SL 73.0% winners, +1928 pips