ForexMorningTrade System

[Kenito]

FxPro no trade

 

[RedGuerrilla]

Stats for 04-01-2011



Live Accounts:

FMT 4.3, EA standard settings: 40 SL, 20 BE, 35 TP
6:30 UK Time, FXSolutions..., No Trade......., 0.0, Stats since 11-08-2010: Total= +174.0
6:30 UK Time, IBFX.........., No Trade......., 0.0, Stats since 01-04-2011: Total= +377.1
6:30 UK Time, PFG Best......, No Trade......., 0.0, 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......, Server Down...., 0.0, Stats since 02-01-2011: Total= +464.2
6:30 UK Time, FXCM.........., No Trade......., 0.0, Stats since 02-01-2011: Total= +496.7
6:30 UK Time, Alpari(US)...., No Trade......., 0.0, Stats since 02-01-2011: Total= +457.9
6:30 UK Time, FXDD.........., No Trade......., 0.0, Stats since 02-01-2011: Total= +381.8



Notes:

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



Comments:

PFG Best demo server was down again for the 3rd time at 6:00 UK time and came back up 2 hours and 45 minutes later.
If it keeps happening, I'm going to have to cancel the PFG Best demo. The numbers are getting messed up.

 

[michaelsa]

Hello there,

No its not the same as the filter you mention. Look at p.18 sect 4.1.1.1 of your FMT manual, and you will see why its a no trade (due to one of the parameters being exceeded).!

The reason for the ordinary version of FMT template saying don't trade refers to data collected over a period of several hours, whereas I believe the long candle filter refers only to very recent price action. I don't know whether the long candle filter would have stopped us today, it's the main filter which is saying the price is overheated.

Better safe than sorry, I know a lot of manual traders like me might have considered a small TP on a long today, but I looked at the RSI line which also indicated an overbought position and decided to abide by the rules. Else it would have been another wash in cold water for me if I got it wrong! (what other penance to people apply?)

Thanks phn73 and wiseambtions, understood.

I also agree with uberpips- may be a good time to go over the manual again!

So April so far has 2 no trades.

M

 

[wiseambitions]

So April so far has 2 no trades.

M

In the backtests (prior to FMT being for sale), May 2010 would have had only 8 trading days. You never know when your non-trading days nor your wins nor your losses, nor the sweet spots are going to be with this. So you just have to make sure you give it a chance and do what it tells you to do on a daily basis.
I suppose May was a volatile month, UK elections, unclear results, formation of coalition government etc etc. True enough there would have been other strategies capable of profiting from that situation, but this is FMT, it has its own rules, and for better or worse, but mainly better, for richer and for poorer, but mainly richer, we have to stick to them.

 

[michaelsa]

In the backtests (prior to FMT being for sale), May 2010 would have had only 8 trading days. You never know when your non-trading days nor your wins nor your losses, nor the sweet spots are going to be with this. So you just have to make sure you give it a chance and do what it tells you to do on a daily basis.
I suppose May was a volatile month, UK elections, unclear results, formation of coalition government etc etc. True enough there would have been other strategies capable of profiting from that situation, but this is FMT, it has its own rules, and for better or worse, but mainly better, for richer and for poorer, but mainly richer, we have to stick to them.

I agree, as I stated a while ago, I am evaluating my trading by whether or not I am following the rules, and not by whether or not a trade hits TP.

The hardest part at the moment is learning to sit on my hands when there is a no trade! Maybe its time for a cold shower

M

 

[Remraf]

The reason for the ordinary version of FMT template saying don't trade (and the ordinary EA not opening a trade) refers to data collected over a period of several hours, whereas I believe the long candle filter refers only to very recent price action. I don't know whether the long candle filter would have stopped us today, it's the main filter which is saying the price is overheated.

Better safe than sorry, I know a lot of manual traders like me might have considered a small TP on a long today, but I looked at the RSI line which also indicated an overbought position and decided to abide by the rules. Else it would have been another wash in cold water for me if I got it wrong! (what other penance to people apply?)

My finger was hovering over that BUY button as well! - I decided that I didn't want to report a losing day to my wife - similar to a wash in cold water!

 

[FXCO]

haha

 

[wiseambitions]

My finger was hovering over that BUY button as well! - I decided that I didn't want to report a losing day to my wife - similar to a wash in cold water!

Oh dear.
Giving account of ones actions to the wife is probably worse than a wash in cold water.

Are there any other self inflicted treatments which teach us to stick to the plan?

 

[Remraf]

From Smart Live:

Hi
Yes the spread bet FX demo is having problems.
It will be up and running soon and the charts updated.
Sorry for the inconvenience.
Regards
SLM

 

[Kylefx]

GM all

No Trade on Askobid - - Live

 

[Euro_d]

The reason for the ordinary version of FMT template saying don't trade (and the ordinary EA not opening a trade) refers to data collected over a period of several hours, whereas I believe the long candle filter refers only to very recent price action. I don't know whether the long candle filter would have stopped us today, it's the main filter which is saying the price is overheated.

Better safe than sorry, I know a lot of manual traders like me might have considered a small TP on a long today, but I looked at the RSI line which also indicated an overbought position and decided to abide by the rules. Else it would have been another wash in cold water for me if I got it wrong! (what other penance to people apply?)

Superbly put oh Wise one.

Just a simple example of the EA working, we were outside the parameters and we did not trade.:smart:

 

[Geoff135]

Superbly put oh Wise one.

Just a simple example of the EA working, we were outside the parameters and we did not trade.:smart:

My PGFBEST demo took a LONG and still going

 

[hammy66]

Today on FMT, NO Trade because of "long candle" setting =true.
For me, No Trade on all 3 start times.

cheers !

 

[Euro_d]

My PGFBEST demo took a LONG and still going

With all due respect Geof, seems nobody else took a trade, what is your entry and SL, as looking at the charts, I cannot see how you were able to get that entry if you use the standard FMT settings.

Please read posts re PFG as others seem to be having data feed issues, or is that PGF?

 

[coral]

No trade today, Go Markets. Parameter exceeded. (I have long candle filter switched off)

 

[doepi3]

Today on FMT, NO Trade because of "long candle" setting =true.
For me, No Trade on all 3 start times.

cheers !

I thought we had a no trade because a certain indicator was over the top limit - see page 17 of the manual "4.1.1 LONG Signal" .... I do not think the "long candle" was long enough.

 

[hammy66]

My PGFBEST demo took a LONG and still going

Do you have setting "long candle"=false ?

 

[Geoff135]

With all due respect Geof, seems nobody else took a trade, what is your entry and SL, as looking at the charts, I cannot see how you were able to get that entry if you use the standard FMT settings.

Please read posts re PFG as others seem to be having data feed issues, or is that PGF?

Version 4.1(no long candle filter parameter)
PFGBest Direct....entry 1.61558...35/40/20...and 43/65/20
Other brokers Gomarkets, FXPro no trade
Geoff

 

[jimpees]

Version 4.1(no long candle filter parameter)
PFGBest Direct....entry 1.61558...35/40/20...and 43/65/20
Other brokers Gomarkets, FXPro no trade
Geoff

hey guys, anyone tried backtesting this on GBP/USD, EUR/USD pairs at new york open, ie. 8AM EST ? have a feeling with some tweaking we could get this to work..

 

[Elovv]

Version 4.1(no long candle filter parameter)
PFGBest Direct....entry 1.61558...35/40/20...and 43/65/20
Other brokers Gomarkets, FXPro no trade
Geoff

I think the problem is PFG´s demoserver. First candle after weekend whas 03.00 (PFG-time)
Elovv