ForexMorningTrade System

[andybissell]

wiseambitions; what is the significance of 63EMA? I'm sure I saw it in the pdf and assumed it was a typo.....

 

[podberry]

Good week with FMT - Have a great weekend all

 

[wiseambitions]

wiseambitions; what is the significance of 63EMA? I'm sure I saw it in the pdf and assumed it was a typo.....

It is strange to say that an indicator which collects information over a 2 and half day cycle can be of any significance......
However it is fair to say that if you plot this one and compare the price at around 06.30 UK time, the observation is that if price is below the 63EMA in a 1 hr chart and has been so for about 6 hours previously, it is liable to fall further during the next 3 hours. Conversely if the price is above the 63 hour EMA and price has not touched the EMA it is liable to rise.
It doesn't make a lot of difference if you use 63 or 60 or 50 as the EMA period.

It works right more often than it's wrong, but like I say it is difficult to believe why a 2.5 day period of data would hold any significance

 

[pret]

No trade today On Sigtrader and E global

 

[wiseambitions]

wiseambitions; what is the significance of 63EMA? I'm sure I saw it in the pdf and assumed it was a typo.....

Have a laugh with the following bad translation:


"I have a forex day trade plan which I am about to exhibit to you right away. You should design a winning rate of about 95% and 5% loss rate from regulating the strategy. My behind exam for it lasted for up to 7 months, which s from Nov 2008 to might 2009. During this period, I usually encountered about 5 waste from it and the superfluous was gains. This plan usually functions for the GBP/USD banking span as a outcome of the instability.

The entrance guideline for regulating this forex day trade strategy

Make a 63 EMA by one hour time length chart. If you notice which the total candlestick combining from the Asian event runs over the 63 EMA, afterwards the prophecy for dermatitis should be an uptrend. Whenever the London trade duration begins, consider the greatest of the candlestick in conditions of length and collect out 5 pips for a 4 decimal height and have operate of 50 pips for 5 decimal platforms. Put a buy stop sequence and head for thirty pips for 4 decimal height with 300 for 5 decimal platform. You should design this to give you at slightest thirty pips and pinnacle 200 pips. Utilize a stop loss of up to 40 to 45 pips. Perform the same charge if you notice which each candlestick goes next the 63 EMA and put a sell stop sequence regulating the prior filter and collect profit.

The exit guideline for regulating this forex day trade strategy

When you notice which the candlestick entrance out for the Asian duration moves over or comes in hit with the 63 EMA, get out of the marketplace for which day. The reversal for this plan is which it could be your reduce entrance for a total month. You can design at many 8 traders for a total month and at slightest 6 trades for a full month. If it presents you with an entrance point, only be certain which you have been going to benefit it.

I indicate you try to behind exam this plan regulating the GBP/USD on a 1 hour time duration as most as you can so you can be means to see for yourself how it works."

 

[RedGuerrilla]

Stats for 03-31-2011



Live Accounts:

FMT 4.3, EA standard settings: 40 SL, 20 BE, 35 TP
6:30 UK Time, FXSolutions..., Long/Profit......., +35.0, Stats since 11-08-2010: Total= +174.0
6:30 UK Time, IBFX.........., Long/Profit......., +35.1, Stats since 01-04-2011: Total= +377.1
6:30 UK Time, PFG Best......, Long/Profit......., +35.5, Stats since 03-01-2011: Total= +190.5



Demo Accounts:

FMT 4.3, EA standard settings: 40 SL, 20 BE, 35 TP
6:30 UK Time, PFG Best......, Long/Profit......., +35.0, Stats since 02-01-2011: Total= +464.2
6:30 UK Time, FXCM.........., Long/Profit......., +34.9, Stats since 02-01-2011: Total= +496.7
6:30 UK Time, Alpari(US)...., Demo expired......, 0.0, Stats since 02-01-2011: Total= +457.9
6:30 UK Time, FXDD.........., Long/Profit......., +35.3, Stats since 02-01-2011: Total= +381.8



Notes:

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



Comments:

Alpari(US) demo account expired, and FMT gave a Error:65, invalid account, so no trade was taken.
Did not realized what had happened in time, or I would have gotten a new demo account.

FXCM is still the best broker for the demos, in March.

 

[chrisheath]

Have a laugh with the following bad translation:

Make a 63 EMA by one hour time length chart. If you notice which the total candlestick combining from the Asian event runs over the 63 EMA, afterwards the prophecy for dermatitis should be an uptrend.

....the prophecy for dermatitis ...... is this related to getting a winning trade by the skin of your teeth? ha-ha

 

[wiseambitions]

Have a laugh with the following bad translation:

Make a 63 EMA by one hour time length chart. If you notice which the total candlestick combining from the Asian event runs over the 63 EMA, afterwards the prophecy for dermatitis should be an uptrend.

....the prophecy for dermatitis ...... is this related to getting a winning trade by the skin of your teeth? ha-ha

Then the behind exam sounds a bit painful

 

[Tenapenny]

Have a laugh with the following bad translation:

Make a 63 EMA by one hour time length chart. If you notice which the total candlestick combining from the Asian event runs over the 63 EMA, afterwards the prophecy for dermatitis should be an uptrend.

Then the behind exam sounds a bit painful

If you've ever had a camera up your bum, you would know!

 

[wiseambitions]

If you've ever had a camera up your bum, you would know!

Even worse for that guy if it lasted 7 months.

 

[chrisheath]

For those of you who don't want dermatitis , or a behind exam.....

http://www.free-forex-systems.com/forex-trading-system-63-EMA-breakout

its just not as funny...

 

[wiseambitions]

For those of you who don't want dermatitis , or a behind exam.....

http://www.free-forex-systems.com/forex-trading-system-63-EMA-breakout

its just not as funny...

Evidently it would seem my research came from a guy who had plagiarised the English version, perhaps went to a translation program, converted it to another language, then converted it back to English. Such that back test became a behind exam and a breakout became dermatitis and a forecast became a prophesy.

Anyway I like the theory and it lifts an otherwise dull 1st of April.

I saw there was quite a spike in the dollar at 09.30. FMT kept us out of trouble seeing TP would not have been touched on a long trade.

 

[coral]

BE this morning on the long at 6:30, Go Mkts

 

[jimpees]

Hi jimpees

Just to correct you, forex is not tax free in the UK as capital gains tax applies, however Spreadbetting would be Tax Free

Going back to this earlier point, is there anyone in here UK based who's using a purely spread betting forex broker? Gotta be honest and say I didnt actually realise spot forex was taxable (at a rate of 25-40% ouch ) but spread betting isnt taxable at all :clap:

 

[jimpees]

Going back to this earlier point, is there anyone in here UK based who's using a purely spread betting forex broker? Gotta be honest and say I didnt actually realise spot forex was taxable (at a rate of 25-40% ouch ) but spread betting isnt taxable at all :clap:

OK so on further investigation (i.e all bloody morning!) there is only ONE spread betting firm in the UK that offers MT4 and they are smart live markets..

anyone using them to run FMT ?

 

[hammy66]

FMT for me this morning : (55-35-25-5)

6:15 start, No Trade
6:30 start, No Trade
6:45 start, long signal, hit BE +5 pips

total today +5 pips ..

total for the week +123 pips..

pretty good considering Tuesday was a disaster..

Happy April Fools !!..

 

[felixmsr]

Agree, FMT will pay for a new computer very quickly.

I just bought a new laptop the other day, if FMT keeps this up it will be paid for in no time :cheesy::cheesy:

 

[podberry]

OK so on further investigation (i.e all bloody morning!) there is only ONE spread betting firm in the UK that offers MT4 and they are smart live markets..

anyone using them to run FMT ?

Hi jimpees - FXCM do spreadbetting as well - Sorry on my part - They only use FX Trading Station II

http://www.fxcm.co.uk/spread-bettin...ink+spread+betting&CMP=SFS-70160000000E5j8AAC

 

[RobM.]

Search the Site

Hi everyone, I just thought I'd share something obvious...

Until recently I had completely forgotten that there is a very fast and efficient SEARCH facility on this site, which may enable those in search of answers to find earlier posts, containing the information they seek, very quickly.

There is a "Search this Thread" tab on the bar above the first post of each page and a "Search" tab, with a drop-down arrow, at the top left of the page, which will search across all forums.

I apologise if I am teaching anyone to suck eggs, but I'm sure using the facility will help many members to get information more efficiently, as well as discover a host of things they didn't realise they wanted to know...

 

[jimpees]

Hi jimpees - FXCM do spreadbetting as well - Sorry on my part - They only use FX Trading Station II

http://www.fxcm.co.uk/spread-bettin...ink+spread+betting&CMP=SFS-70160000000E5j8AAC

yeah no probs, ive been told by Smart live markets that their the only UK spreadbetting firm that use MT4, so dont really have a load of choices here!

and thanks ROBM, good to know, I am most definitely sometimes guilty of the aforementioned crime :cheesy: