ForexMorningTrade System

[deserteagle]

4 wins 1 loss this week with 43/20/65 although one win was by the skin of its teeth :clover:

107 pips for the week so I might treat Mrs Tenapenny to a fish supper tonight!

Enjoy it

By the way, with the same settings I got 3 wins 1 loss this week, around 65 pips ... nothing bad. Later I will upload my stats.

 

[Jashfx]

What a fantastic month FEB is turning out to be. So far its 6 wins, 1 loss and 1 B/E trading at

TP=35, Sl=40 and resetting to B/E after 20pips. FMT on a roll. Lets hope it continues.

I think the forex gods have smiled on Alpari UK (and possibly other Brokers) as in relation to Mark Fric's PFG there have been only 1 loser compared to 3 (1 loss was a B/E on Alpari UK -WED 9th Feb) & (1 loss was a No Trade - 4th Feb)

 

[hammy66]

FMT for me today:

6:00 start, No Trade
6:15 start, No Trade
6:30 start, sell trade, hit TP +31 pips
6:45 start, sell trade, hit TP +26 pips

total today +57 pips profit...

total for the week +137 pips

 

[texastrooper]

Very good week using FMT EA. 155 pips. One loss and one BE. I know it won't always be this good and being new I have to trust the system and NOT GET GREEDY. Good luck everybody.

 

[jimmc]

Beginners question - tried smart live markets demo SB platform for the first time this morning allowing the EA to do the work. Everything kicked in fine, but when I checked back later the EA obviously didn't take me out of the trade, as I accidentally made 55 pips profit (broker T/P).

Nice surprise! I didn't stop MT4, but I did switch profiles to a different one. Does this mean that, to keep the EA working, you have to not just keep MT4 running, but also have that profile / chart active as well? I found the MT documentation a little hazy on this one.

 

[Jashfx]

Beginners question - tried smart live markets demo SB platform for the first time this morning allowing the EA to do the work. Everything kicked in fine, but when I checked back later the EA obviously didn't take me out of the trade, as I accidentally made 55 pips profit (broker T/P).

Nice surprise! I didn't stop MT4, but I did switch profiles to a different one. Does this mean that, to keep the EA working, you have to not just keep MT4 running, but also have that profile / chart active as well? I found the MT documentation a little hazy on this one.

When you switch profiles you actually disable Expert advisors so yes you got lucky as the market continued to your broker TP of 55pips. On another day you may not be so lucky.

If you want to switch between profiles then rather download another platform and if you download a 2nd platform of the same broker you will need to change the path when doing this ie: C:\program files\Meta?Trader - Alpari (UK) and then the next time C:\program files\Meta?Trader - Alpari (UK)2

 

[jimmc]

thanks Jashfx - I'll do that.

 

[40pips]

Today i hit SL. Which was strange. Because EA SL 40. Opened a sell trade at price 1.60370 and... SL 1.60640 (27 pips). Since i wasn't home it was a quite surprise, that SL so tight.

P.S. Checked the Journal and Experts tab and it seems, that TMT modified trade which opened by FMT. As TMT didn't opened a trade. I noticed, that this two EA doesn't work well with each other.

 

[Remraf]

Ok, now I've had it with FMT, and I quit manually early. The premise was dependant on a quiet Asian session leading up to an anxious European session. What we have now in 2011 is a chaotic end of Asian session, and an unpredictable European session. For us North Americans, it might just be better to go back to trading the NYSE and Nasdaq, until the rest of the planet gets in house in order. Cheers.

You should have had more faith and let it run! It didn't look good as a short when I left the house as it was heading fast towards the SL, so was a pleasant surprise when I came back home tonight to it had turned around and hit FMT TP (I'm on a demo account using standard FMT settings) - why try and second guess it when the stats are in FMT's favour? :smart:

Chris

 

[40pips]

Resolved problem. I've had same magic numbers on both EAs.

 

[wiseambitions]

You should have had more faith and let it run! It didn't look good as a short when I left the house as it was heading fast towards the SL, so was a pleasant surprise when I came back home tonight to it had turned around and hit FMT TP (I'm on a demo account using standard FMT settings) - why try and second guess it when the stats are in FMT's favour? :smart:

Chris

Well said, Sir,

I think we're all rather prone at times to let our own emotions get in the way. In spite of recent messages that things might have changed, viz a viz China and US bond trading, China and its interest rates, the Non Farm Payroll in Mongolia (haha) etc, I can't believe the principles of FMT are now eternally broken. And I think I'm right in saying that at various times in the last 4 years or so for which FMT trades have been backtested, we'd have had the same arguments quite frequently if the forum was then in use.

Hopefully, with the average of 50 months' performance being in the region of 100 pips profit pcm, we will at some stage soon experience a more normal run of 65 to 80 per cent winning trades. Then those who deserted the system will wish they'd just left it running.

 

[deserteagle]

Weekly update - Another good week.
Have a nice weekend.

 

[michaelsa]

Weekly update - Another good week.
Have a nice weekend.

Hi Deserteagle,

This is my first post in this forum. And I have only been using FMT for one week. I am happy with the standard settings, increasing my account by 4.75% for the week.

But I am really impressed with your weekly update .

I am sure you have answered this question before- How did you come up with the settings of SL65 TP43 and BE 20?

What also interest me is that both methods being compared have a BE 20, yet the results are so different! 501.2 pips vs 169 pips over the 9 week period. Just goes to show what a bit of extra breathing space on a trade does!

M

 

[Remraf]

Resolved problem. I've had same magic numbers on both EAs.

Hi 40pips, I posted earlier on this subject, as I too was wondering how you run more than 1 EA on the same account and I was advised to change the magic number so each EA is different - is this what you've done? Any thoughts on whether 2 EA's would operate at the same time? - I'm guessing they would as brokers must be handling many trades at the same time - especially at market open times. I've not changed anything yet, but was wondering if you or anyone else was already working this way without any problems. Thanks, Chris

 

[joke]

Hi 40pips, I posted earlier on this subject, as I too was wondering how you run more than 1 EA on the same account and I was advised to change the magic number so each EA is different - is this what you've done? Any thoughts on whether 2 EA's would operate at the same time? - I'm guessing they would as brokers must be handling many trades at the same time - especially at market open times. I've not changed anything yet, but was wondering if you or anyone else was already working this way without any problems. Thanks, Chris

Rem.. I run the same EA on two charts each on 15 mins...Just open two 15 min charts and put the EA on both of them...then add on 1 on to the magic number of the second chart with the EA and you should be able to trade on different times..Just change the time you would like to trade eg...0615 or 0630..uk time, and you should be off to the races..That is what I do and it works for me...

 

[Remraf]

Thanks Joke, I'll give it a go!

 

[deserteagle]

Hi Deserteagle,
I am sure you have answered this question before- How did you come up with the settings of SL65 TP43 and BE 20?
M

Yes, I have
I got it in November by backtesting from January to October 2010.

 

[michaelsa]

Yes, I have
I got it in November by backtesting from January to October 2010.

Thanks, results are very promising

Michael

 

[wiseambitions]

I happened to see a discussion on another forum about risk reward ratios, and that a good setting with more pips from wins than losses still makes you profitable even with only 50pc winning rate

I think the settings proposed were something like 35TP 30 SL and break even @ 20 with plus 5 pips

Has anyone tested this kind of situation?

 

[Remraf]

Weekly update - Another good week.
Have a nice weekend.

Hi Deserteagle, results on your settings look really good. I don't have any backtesting software, but were wondering if you or anyone else had backtested with a trailing SL to try and pick up the larger moves, as looking back on the thread it doesn't seem to be being used. I know it's only one day, but on Friday (11 Feb) I was short at 1.6038 and out at 1.6002 giving me the +36 pips (FMT standard settings) but the market continued to fall around another 38 pips. Whilst we wouldn't have got all those (unless sitting poised with finger on the buy button!) could you not have a trailing SL that replaces the TP that say continues to be moved +10 pips every time the market say moves another +30pips?? Feel free to tell me I'm wrong, wildly optomistic, to greedy or just talking complete B*****ks! - I'm just having a Sunday morning thinking out loud moment!