ForexMorningTrade System

[sunny12]

Not again, if it heads back to B/E that would be 3 in a row

Yes it looks like 3rd in the row. There is a clear support at 64 levels. Sometimes makes you wonder to take profit at that point...hmmm.... I need to take care of that inner voice .... currently sticking to the trading plan.

 

[musallam]

looks like need to adjust the target for April from 35 pips to 30 pips. its the 3rd day we reached 30+ then it reversed.

 

[busfarehome]

We are being engulfed as I type

Can someone help please, I have FMT set up on demo and the EA opened my trade correctly.
On the other PC I have my live account open with the EA running but it did not open the trade so I did it manually.
It got the short signal but a messgae flicked up on screen, I did not get a good chance to read it before it disappeared but caught "order disabled" in there.

I have EA's enalbed in "tools, options, Expert Advisors" 4 boxes ticked.
The smiley face is on.
Expert advisor button has a green dot lit.

I have sufficient funds as I opened the trade manually.

Any suggestions?

 

[davinci79]

Hi Davinci, did you use the B/E? How come you have not been hitting the B/E?

No. I'm with TP40 and SL40 without B/E. I had 1 loss last thursday and 2 losses this week.

 

[Les_Paul]

BE hiit - shiit...

 

[podberry]

Morning Podberry,

Was just thinking the same thing, missed TP by a few pips. :|

M

Morning michaelsa, I may keep my finger on the 'close' order button tomorrow

 

[podberry]

You sometime think 'Big Brother' knows where our T/P's are - Out at B/E

 

[chrisheath]

Bulls 'defending' 50 sma on 1 hour ?

 

[pret]

Morning all
New member Q? Is this unique for trade to turn at 30 pips for 3 days in a row. Must we be patient and leave at 35 TP or move to 30TP what will theSL then be

 

[TheRichOne]

IBFX live hit BE too. Not a promising start.

 

[pret]

My 07H15 and 07H45 trades did not open only the 07H30 opened

 

[podberry]

My 07H15 and 07H45 trades did not open only the 07H30 opened

Hi Pret, some advice, if you are a newbie, stick to original settings, if you start chopping and changing every other day then your profits won't be as much in the long run, I see you are also using Hammy66's settings, up to you,but those settings can come later as you build confidence in the original settings. I did the same as you when I started, and only after I stuck to 40/35/20 did my account equity start sky rocketing.

 

[wiseambitions]

I'm convinced both today and Tuesday altho we had short FMT trades here and there were at most only 30 or 35 pips to be had, the trend was still upwards (confirmed by long term EMAs, QQE, MACD etc in the 1 hr charts) and what was happening at our trading time was the long holders had set stop losses not far away from the previous day's low, and they got taken out prior to the market going back up with the long term trend.

Someone said a few months ago on here that forex is a camel market. I can't think of a more avid description.

Anyway there were 30 pips for me which I was grateful for

Results of last 100 trades (inc Christmas), my forward testing:

FMT 565
Old FMT 760 plus or minus today whether it's 40 profit or 40 loss eventually
10tp/40sl 650
28/40 556
D/eagle 550

 

[Sands1]

First trade today with FMT, using the EA.
Short on GoMarkets, stopped out at break even.
Got to 32 pips up before it reversed.
Happy enough with that.

 

[jabu99]

Frustrating!

Out at b/e again. I manually move my stop yesterday to bag +12 but too late by the time I got to my pc at work today.

Roll on tomorrow...

 

[RedGuerrilla]

Stats for 04-06-2011



Live Accounts:

FMT 4.3, EA standard settings: 40 SL, 20 BE, 35 TP
6:30 UK Time, FXSolutions..., Long/Break Even....., -1.0, Stats since 11-08-2010: Total= +172.0
6:30 UK Time, IBFX.........., Long/Break Even....., -0.1, Stats since 01-04-2011: Total= +376.5
6:30 UK Time, PFG Best......, Long/Break Even....., -0.3, Stats since 03-01-2011: Total= +189.8



Demo Accounts:

FMT 4.3, EA standard settings: 40 SL, 20 BE, 35 TP
6:30 UK Time, PFG Best......, Long/Break Even....., +0.3, Stats since 02-01-2011: Total= +464.5
6:30 UK Time, FXCM.........., Long/Break Even....., 0.0, Stats since 02-01-2011: Total= +496.7
6:30 UK Time, Alpari(US)...., Long/Break Even....., 0.0, Stats since 02-01-2011: Total= +457.9
6:30 UK Time, FXDD.........., Long/Break Even....., 0.0, Stats since 02-01-2011: Total= +381.8



Notes:

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



Comments:

Going to keep PFG Best demo, maybe they're done updating their demo server.

 

[Euro_d]

I'm convinced both today and Tuesday altho we had short FMT trades here and there were at most only 30 or 35 pips to be had, the trend was still upwards (confirmed by long term EMAs, QQE, MACD etc in the 1 hr charts) and what was happening at our trading time was the long holders had set stop losses not far away from the previous day's low, and they got taken out prior to the market going back up with the long term trend.

Someone said a few months ago on here that forex is a camel market. I can't think of a more avid description.

Anyway there were 30 pips for me which I was grateful for

Results of last 100 trades (inc Christmas), my forward testing:

FMT 565
Old FMT 760 plus or minus today whether it's 40 profit or 40 loss eventually
10tp/40sl 650
28/40 556
D/eagle 550

I too managed 30 today but the close was manual, would have been a break even if I left the EA on full auto.

I value your analysis especially re the 10tp/40sl, I might just copy that on a small live account and see if I can replicate your sucess,

Would add that a lower risk % might be sensible, what do you think, something like 2%?

many thanks for sharing.
Euro_d

 

[pret]

Hi Pod
Thanks for your advice
I have a account with Alpari UK where i only trade default settings.
I have 2X1 cent accounts with sigtrader and E global that i experiment with .

 

[musallam]

Morning all
New member Q? Is this unique for trade to turn at 30 pips for 3 days in a row. Must we be patient and leave at 35 TP or move to 30TP what will theSL then be

Well, if you are referring to my comment... it was a suggestion not necessary to do it. It's better to stick Marc's rules.

 

[wiseambitions]

I too managed 30 today but the close was manual, would have been a break even if I left the EA on full auto.

I value your analysis especially re the 10tp/40sl, I might just copy that on a small live account and see if I can replicate your sucess,

Would add that a lower risk % might be sensible, what do you think, something like 2%?

many thanks for sharing.
Euro_d

Hello

My thoughts about 10tp and 40sl are that the risk reward ratio is not good, if you have a loss you have to win daily for a week to get back to where you were. Before I say more about it I'll just mention 20/40 is a dumb useless set, so I'd suggest you need to be content with 10 and not try for say 15 every time (not that I've tested that), and you also need to leave a fairly big SL in order to give the market room to breathe.

My analysis of 10/40 says it has won 47 of the last 50, 93 of 100 (including Christmas which was terrible), 140 in the last 150 185 in 200.

With all that in mind, I'd be happy to use this one with a higher % risk instead of a lower one actually.

I've only observed 2 consecutive losses in 15 months