FMT for me this morning : (55-35-25-5)
6:15 start, long signal, hit SL -55 pips
6:30 start, long signal, hit SL -55 pips
6:45 start, long signal, hit SL -55 pips
total today -165 pips ... it's been a good run, this was expected.
total for the week -58 pips.
Hi Wiseambitions
Thanks for sharing the last 100 and the settings. It does seem the old 40/40 settings had performed the best while the current default settings with BE is making the system more conservative.
What does 800 pips translate to in terms of growth to your account per month?
Also for the settings above, did you only trade once per day at 630 .
biggreycat
Anyone still in the trade with 40/35/20 settings ?
Hi Wiseambitions
Thanks for sharing the last 100 and the settings. It does seem the old 40/40 settings had performed the best while the current default settings with BE is making the system more conservative.
What does 800 pips translate to in terms of growth to your account per month?
Also for the settings above, did you only trade once per day at 630 or did you have other timings as well? e.g. 615, 645 etc?
I'm toying with the idea of throwing the BE out the window and just going for 40/40 straight for a simple 1:1 RR and hopefully overall positive expectancy.
biggreycat
anyone got any views on strict 1:1 RR settings below, no BE? too wide, too narrow, too unrealistic?
SL/TP
30/30
35/35
40/40
45/45
55/55
35/70
35/45
Hi, I'd love to use 1:1RR and I know all the trading books and sages say this is a must for any system to be profitable, but in my data I found optimisation at TP37/SL48, as a 'one size' setting which made good returns over 2009/2010 and so far live over 2011. Reason seems to be in my experience of FMT that expecting over 40 pips favourable movement on M15 is often a big ask, and often an unfavourable move goes to 40 or just over before turning again, anything over 48 unfavourable and it seems to keep going and you would want to be out of the trade...
Plugging your numbers in:
SL/TP 2011 to date
30/30 +30 pips
35/35 +385 pips
40/40 +280 pips
45/45 +315 pips
55/55 + 55 pips
35/70 +420 pips
35/45 +315 pips
My setting of TP37/SL48 had generated around +664 pips so far. I used to use 30/48 but when you go through a rocky period with lower win rate like the start of this year there's just such a gap between wins and losses, which is also why I would not use a setting like 35/70. Hopefully you can see why something a bit under 1:1 (but not too far) works well.
Good luck with FMT and as always do your own research and backtesting til you feel you have a setting that works for you. Mark's setting has been proved to be a good one over the long term so if you are new I'd stick with that, it's proven to work well
I believe 30/30 doesn't leave the trade enough room to breathe
20tp/40sl happens to be the worst setting by a long mile in several combinations which I watch daily. And must say quite a lot about the problem of having an imbalanced R/R/R.
And there's something magical about 40/40. So much so that I also agree with those who wonder whether cutting the TP to 35 was such a great idea after all.
Shortly I propose to publish some results for the year to date. I am going to prove that despite all the sceptics the system is having an even better start than it did last year ! Guys, just ignore all those who come onto the forum talking about obscure reasons why FMT won't work any more. Keep at it, and I have a feeling there will be a meeting of the FMT millionaires before long!
Can I join your millionaire's club? :clap:
Starting with $500, with 5% risk/trade, how long until I can join the club?
Yeah, in realilty, I would begin to lower my risk/trade, probably begin to split the balances into more accounts, etc.