ForexMorningTrade System

[mark cooper]

Thx, So UK changes in two weeks? why the difference? Hell, why daylight savings at all?

 

[texastrooper]

OK, I am a little confused. I am using FXDD. What do I need to set the time in for FMT EA. Anybody else using FXDD??

 

[GumRai]

OK, I am a little confused. I am using FXDD. What do I need to set the time in for FMT EA. Anybody else using FXDD??

What is your broker time right now?
If your platform is MT4, you can see this in the market watch window. Otherwise, what is the time of the current 5 minute candle

 

[michaelhryu]

OK, I am a little confused. I am using FXDD. What do I need to set the time in for FMT EA. Anybody else using FXDD??

Yes, I am using FXDD. Maybe 9:30 FXDD time, instead of 8:30 if the trade time is set at 6:30 UK time? Please correct me if I am wrong on this!

 

[GumRai]

Yes, I am using FXDD. Maybe 9:30 FXDD time, instead of 8:30 if the trade time is set at 6:30 UK time? Please correct me if I am wrong on this!

If FXDD time is currently 4AM, then 09:30 would be correct

 

[mike1booth]

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

Hi everyone.

Re: 7tp/20sl and 10tp/40sl

Bit puzzled by your enthusiastic interest in these numbers guys.

The test between Dec 09 and Feb 11 covers 243 trades that had a signal on FMT. I didn’t record any data of a swing less than 20 pips (to account for the 20BE in the stats) so would have to go right back to the beginning to get figures on these sets – another 40/50 hours at least. I wouldn’t mind doing that if I thought it worthwhile. But just consider the following:

The worst performing set in the test (30tp/40sl) produced 1803 pips.

At 7tp/20sl even if every single trade was a winner, that would only be 1701 pips (243 x 7)
And at a ratio of 7/20, you would have to win 180 of the 243 trades (74%) just to break even.

At 10tp/40sl again if 100% of trades were winners – 2430 pips.
And at a ratio of 10:40 (1:4) you would have to win 195 of the 243 trades to break even.

Or am I missing something?

Mike

 

[GumRai]

Hi everyone.

Re: 7tp/20sl and 10tp/40sl

Bit puzzled by your enthusiastic interest in these numbers guys.

The test between Dec 09 and Feb 11 covers 243 trades that had a signal on FMT. I didn’t record any data of a swing less than 20 pips (to account for the 20BE in the stats) so would have to go right back to the beginning to get figures on these sets – another 40/50 hours at least. I wouldn’t mind doing that if I thought it worthwhile. But just consider the following:

The worst performing set in the test (30tp/40sl) produced 1803 pips.

At 7tp/20sl even if every single trade was a winner, that would only be 1701 pips (243 x 7)
And at a ratio of 7/20, you would have to win 180 of the 243 trades (74%) just to break even.

At 10tp/40sl again if 100% of trades were winners – 2430 pips.
And at a ratio of 10:40 (1:4) you would have to win 195 of the 243 trades to break even.

Or am I missing something?

Mike

Using the smaller TP level, the broker's spread can be a more important factor.
What spread was allowed for in your tests?

 

[mark cooper]

If FXDD time is currently 4AM, then 09:30 would be correct

fmt manual says no adjustment necessary for fxdd, am i missing something?

 

[JOHNCO]

fmt manual says no adjustment necessary for fxdd, am i missing something?

You are correct. No change for FXDD.

 

[RedGuerrilla]

Stats for 03-11-2011



Live Accounts:

FMT 4.3, EA standard settings: 40 SL, 20 BE, 35 TP
6:30 UK Time, FXSolutions, Short/Break Even, 0.0, Stats since 11-08-2010: Total= -35.0
6:30 UK Time, IBFX......., Short/Break Even, 0.0, Stats since 01-04-2011: Total= +144
6:30 UK Time, PFG........, Short/Break Even, -0.1, Stats since 03-01-2011: Total= -17.3



Demo Accounts:

FMT 4.3, EA standard settings: 40 SL, 20 BE, 35 TP
6:30 UK Time, PFG Best.., Short/Profit, +35.6, Stats since 02-01-2011: Total= +287.2
6:30 UK Time, FXCM......, Short/Break Even, 0.0, Stats since 02-01-2011: Total= +333.2
6:30 UK Time, Alpari(US), Short/Break Even, 0.0, Stats since 02-01-2011: Total= +246.9
6:30 UK Time, FXDD......, Short/Break Even, 0.0, Stats since 02-01-2011: Total= +180.2

FMT 4.3, EA tweaked settings: SL=40, TP=30, BE=20, BE+5 pips, based on back testing, Post #5659, page 708
6:15 UK Time, PFG Best.., No Trade, 0.0, Stats since 01-20-2011: Total= +160.1



Notes:

All pip totals include slippage
FXSolutions is the only dealing desk broker

 

[Lady Forex]

My brokers time is currently 00:45 do I need to change the time of my trade?

 

[Lady Forex]

Is the trade supposed to trigger in about 37 minutes or or an hour and 37 minutes?

 

[GumRai]

My brokers time is currently 00:45 do I need to change the time of my trade?

FMT time with your broker will be 02:30

 

[GumRai]

Trade time will be in 1Hour and 30 minutes

 

[Lady Forex]

Thank you.

 

[texastrooper]

Holy crap, On my FXDD account it went long. On my Alpari US account it showed short but no trade was executed. On the second line before the word Order Opened is the word "requote 1" So what the heck does that mean?

 

[Lady Forex]

I am long also. I hope this is the right time to be in.

 

[podberry]

Hi Lady Forex

Its just after 6am in the UK, another 25 mins to go for signal, so your brokers time has changed if you are in a trade now, I had to adjust my start time from 01H30 to 02h30 with Oanda

 

[Lady Forex]

Okay, thanks. Got out with a couple of pips.

 

[ijan_fx]

yeah i am using mbtrading
previous 1:30
but on sunday, daylight saving is on
so in usa, time is adjusted

so my friends

for oanda and mbtrading : DO WE HAVE TO ADJUST FROM 1:30 TO 2:30

THANKS
bye