deserteagle
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Why is Friday 35 for New FMT when it should be BE?
You are right, the data was corrected, thanks for informing it.
You are right, the data was corrected, thanks for informing it.
mike1booth
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Hi, I have started a new comparison sheet, check the attached file.
Have a nice weekend
Hi Deserteagle and all on this forum.
New to FMT and have spent the last month back testing and demo trading the system before taking it live. Don't work so I am talking probably around 150 hours.
I have done an "eye ball" back test on Alpari UK (The broker Mark uses for his trades and tests) going back to December 2009 trying to find the best SL/TP/BE combination.
Apologies if you have already looked at this, but may I suggest you add 40SL 40TP 20BE and 35SL 45TP 20BE to your spread sheet. Think you will find it interesting and certainly worthwhile.
Cheers!
wiseambitions
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You might come back to the simple realisation that 40tp 40sl, no bothering with break even resets is a straight forward and remarkably good setting to stay with. I don't think there's any other setting which offers a consistent improvement of let's say 400 extra pips a year. I have noticed a lot of folks on here backtest and come up with new exits which they are pleased about but I'd say half of them stop crowing about their success rates after a few weeks because conditions shift and those new settings fail to provide advantage.
mike1booth
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Thanks for your comments Wiseambitions and for your email reply Deserteagle. Trying to find the best combo of tp/sl/be, I back tested from 1st Dec 2009 to date, but from August 2010 took the figures (entry value, slippage etc) from Mark’s journal. One thing the figures show for sure - and supports what you are saying Wiseambitions - switching to BE24 in September, then to 35TP as Mark did from November and later BE at 20 made a big difference, and unfortunately not for the better. Sticking with any one of the settings below throughout the period would have shown better results (the journal shows a profit of 470 pips Aug 10 to Feb 11) and that “queue jumping” can be frustrating! The best months by far were June and July 2010, which account for almost 60% of the total profit for the Dec 09 to Jul 10 period. Here are the figures of my test:
The three columns represent profit in pips on the different tp/sl/be settings.
1st column being 1/Dec/09 to 31/Jul/10
2nd column being 1/Aug/10 to 28/Feb/11
3rd column being total of the two.
40tp/40sl : 1520/ 568/ 2088
35tp/40sl : 1185/ 618/ 1803
40tp/40sl/24be : 1560/ 887/ 2447
35tp/40sl/24be : 1290/ 717/ 2007
40tp/40sl/20be : 1520/ 966/ 2486
35tp/40sl/20be : 1330/ 801/ 2131
40tp/35sl/20be : 1515/ 980/ 2495
45tp/35sl/20be : 1595/ 1019/ 2614
50tp/40sl/20be : 1530/ 879/ 2409
55tp/40sl/20be : 1515/ 864/ 2379
Interesting eh?
As I have all the data to hand, testing other settings would not take long, and I would be really interested to know if you think (or know?) that other settings would improve these figures.
Cheers!
Thanks for the stats mike1booth. I second wiseambitions on his claims of 40/40. I only suggest that you amend it to 40/40/24 - Mark's original breakeven mod. It made me 40 pips on Friday, while most others with 35/40/20 were stopped out at breakeven.
Cheers.
Cheers.
Good Morning,
Was just wondering- How would deserteagle's settings stack up?
TP43 SL65 and BE20
Would be interested to see?
Also if we take the original settings (TP40, SL40) as the bench mark, it is interesting to see that by comparison using the settings TP45, SL 35, BE20 one could of made an extra 526 pips (or 25% more pips) over the 15month period. Now surely thats significant!
M
3PO
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Thank you mike1booth for your effort! According to your results the
45tp/35sl/20be : 1595/1019/2614
setting seems to be the best. It would be very interesting to compare with deserteagle's settings, too. I will cosider to change my EA's settings from Mark's to thi 45tp/35sl/20 be.
Take care, 3PO
45tp/35sl/20be : 1595/1019/2614
setting seems to be the best. It would be very interesting to compare with deserteagle's settings, too. I will cosider to change my EA's settings from Mark's to thi 45tp/35sl/20 be.
Take care, 3PO
podberry
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Hi lumbco
Not that I am an experienced member in any sense of the word, but I would tend to think that most of the FMT traders would treat Monday as a normal trading day, If the GU rockets south or north then we should be able to catch the trade. However if it sits in limbo and goes sideways that could be interesting..... Goes back to the rules, trade daily and let the FMT trade accordingly.
To add, if we have to pick and choose days of trading you would never get any trading done as every day is different, some days are tricky eg Mondays and maybe Fridays, others have major economic news coming out.
If there is a time to not to trade the system that would be mid December to mid January as previous history over the last 2 years has taught us.:smart:
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shoot2scoot
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Important question lumbco!
We traded Cable on Friday okay despite both currencies losing badly against the Yen then? Most commentators think that the surge in the Yen on Friday was due mostly to an internal asset sale (into cash) to fund the rescue and reconstruction effort. A fall is much talked about for Monday and hense the talk of Yen intervention on Monday to prop up this impending fall.
As the BOJ have intervened before the possiblity is certainly going to cause everyone to think twice (some will avoid and others will speculate) about Yen pairs.
Coming back to the Cable. I for one will trade, as this is a long term strategy which I wish to avoid adapting to every political/economic or environmental catastrophy.
I would like to finish by saying that my thoughts are with those of you that are affected by this tragic event.
Chris
Thanks for your advice.
On reflection I think that I will trade as normal and trust the FMT effect.
Hi Mike
Would be interested in seeing how 7TP 20SL and 10TP 40SL fair... hoping for a high % win rate and therefore a larger lot size or risk factor
Geoff
Important question lumbco!
We traded Cable on Friday okay despite both currencies losing badly against the Yen then? Most commentators think that the surge in the Yen on Friday was due mostly to an internal asset sale (into cash) to fund the rescue and reconstruction effort. A fall is much talked about for Monday and hense the talk of Yen intervention on Monday to prop up this impending fall.
As the BOJ have intervened before the possiblity is certainly going to cause everyone to think twice (some will avoid and others will speculate) about Yen pairs.
Coming back to the Cable. I for one will trade, as this is a long term strategy which I wish to avoid adapting to every political/economic or environmental catastrophy.
I would like to finish by saying that my thoughts are with those of you that are affected by this tragic event.
Chris
Podberry has similar advice, I have replied to him that I have now decided to trade normally on Monday.
Echo your thoughts about those affected.
mike1booth
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Thanks for your interest Trader578.
Yes, I stopped out at BE on Friday.
The test I did was not automatic; it was an "eye ball" test on all the trades. Examining every candle until the trade stopped at each setting. There were days when each setting won and lost and were better or worse on certain days (and short periods) than others. 40/40/24 was better on Friday but of course we would need to know that in advance which we can't. That setting (40/40/24) was part of my test, take another look at the figures. That said, I think it’s important that we are comfortable with what we are doing, and if that works for you, stick with it.
Cheers!
mike1booth
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Thanks for your comments 3PO.
Feel like I’ve opened a can of worms here, so can I just repeat what I put on another reply?
I think it’s important that you have confidence in what you are doing. So if you have been trading at another setting and it’s worked for you, just take a step back a second before changing it. I did this test, so that when I place a trade, I do it with the confidence of knowing that in the long term I am doing the best thing for me. The important words in that sentence are “LONG TERM” and “ME”. Can I suggest you run a test yourself, produce your own figures, decide which settings you want and run with those? You’ll be surprised how much more confidence you will have next time you click the “trade” button.
Mike
P.S. I will run deserteagles settings. (I assume you mean 43tp/65sl/20be?) BUT! Those settings are his and I will only publish the figures on here if he gives permission after he has seen them first. I think that’s only fair. I’ve read deserteagles posts on here and looked at his figures, and I can tell you, he knows what he’s doing. Don’t want to start a war!
Hello Mike, I too, would like to see the win % for these two settings..Thankyou.
wiseambitions
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Hello Mike, I too, would like to see the win % for these two settings..Thankyou.
Yes that would be interesting
Also I'd like to hear about a setting where the R/R was below 1, I think tp was over 40 and sl around 35. A R/R of 1:1 is fairly ideal, but if you can get below 1:1 and still have a great PF then that's the sort of information we are all interested in!
Hope for a good week, the first few days of March have opened up big differences between settings, with a few surprises, but by sticking with what we have previously trusted I would expect the tortoise will catch up with the hare again shortly!!!!
mark cooper
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do i need to adjust the ea for dst? I am using ibfx....thx they are on gmt time (which remains constant). fmt's manual says to adjust but i am confused.
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If the broker time is constant GMT, then you will not need to adjust this now as USA clocks change, not UK.
In 2 weeks time on the 27th the UK clocks will change and if your broker stays at GMT, you will have to adjust the time
