Todays turn was more a case of a strong support level than the FMT setting of 35. If there is this type of level, 30 pips from tomorrow's TP level... might be good to manually adjust.
Todays turn was more a case of a strong support level than the FMT setting of 35. If there is this type of level, 30 pips from tomorrow's TP level... might be good to manually adjust.
If one traded the 10/40 set with £150 at 33% risk in the EA/20% risk in GBP, over 200 trades, using your analysis, not only would the account survive it would compound to approx. £46,000 in 12 months.
podberry
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Well said PipZombie, you can lead a horse to water but can't make it drink, I think Wiseambitions has the patience of a saint, every week or so he tries to help the new members but one can't escape the fact it can fall on deaf ears sometimes.
wiseambitions
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I don't doubt your analysis.
The key performance indicators of a set, for compounding, are in my opinion
Profit Factor - Total gains over total losses
Payoff - the net number of pips gained on average per session.
Drawdown - the maximum setback to a level of gain already attained
It is amazing how a conservative setting can be a winning formula in those measurements. 10/40 makes a lovely smooth equity curve which looks more pleasing on the eye than the other more aggressive sets
7th April
Used standard FMT settings with Hammy66 timings on live Alpari UK account result today:
07:15 trade NT
07:30 trade BE
07:45 trade BE
Used Catfish settings (see #7525) with Hammy66 timings on a demo Alpari UK account result today:
07:15 trade NT
07:30 trade LOSS
07:45 trade LOSS
All times Alpari UK
The demo trades did not close untill 13:00 Alpari UK trade time.
Used standard FMT settings with Hammy66 timings on live Alpari UK account result today:
07:15 trade NT
07:30 trade BE
07:45 trade BE
Used Catfish settings (see #7525) with Hammy66 timings on a demo Alpari UK account result today:
07:15 trade NT
07:30 trade LOSS
07:45 trade LOSS
All times Alpari UK
The demo trades did not close untill 13:00 Alpari UK trade time.
wiseambitions
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Well said PipZombie, you can lead a horse to water but can't make it drink, I think Wiseambitions has the patience of a saint, every week or so he tries to help the new members but one can't escape the fact it can fall on deaf ears sometimes.
I have a theory, well it's actually real evidence, that if you keep tinkering with your settings you'll come out far worse than just for staying constant with a reasonable set for a long time.
Someone I speak to frequently has changed his TP and SL every couple of weeks since October and wonders why his account isn't growing. Most of the sensible sets have given you 500 to 900 points in the same period!
catfish911
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Out at -48 again after skimming a few pips from TP for fourth trade in a row. Only time I've seen four consecutive losses in FMT was one week in 2010 and one in 2009. Hopefully this is the one 4 loss week for 2011! But as everyone says on this forum (who actually make a profit), stick to your plan, I know if I change to BE or amend TP/SL levels it will immediately be the wrong thing to do. Patience, patience, marathon not a sprint...
All this talk of TP10/SL40 reminds me of those EAs I'm sure we've all demo tested, that build up the account nicely over time and then blow it all in a few adverse days, as they are scalping a few pips for wins but with a big SL just waiting for the inevitable to happen. I personally think Mark's settings or something close to it are better for a long term profitable strategy
All this talk of TP10/SL40 reminds me of those EAs I'm sure we've all demo tested, that build up the account nicely over time and then blow it all in a few adverse days, as they are scalping a few pips for wins but with a big SL just waiting for the inevitable to happen. I personally think Mark's settings or something close to it are better for a long term profitable strategy
deserteagle
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Of course patience is the key, but I do not see it so wrong if you change now from Original FMT to New FMT. It should not be due to the three or four losses in a row(these losses are nothing in the FMT performace), but what New FMT gives you is just a peace of mind when price has got +20. Despite in the short term, from January to March, New FMT was doing better than Original FMT (see my weekly sheet) it was discussed the results in the long term are similars.
You should decide what is more comfortable for you.
Regards
Last edited:
Hi
I have purchased FMT and have traded it in demo for three weeks with good results.
I would like to look at TMT and want to purchase it but cannot see where to buy it. I have just looked through Marc's website in the members area and it has passed me by if the link is there.
Can anyone help with a pointer
Many thanks
I have purchased FMT and have traded it in demo for three weeks with good results.
I would like to look at TMT and want to purchase it but cannot see where to buy it. I have just looked through Marc's website in the members area and it has passed me by if the link is there.
Can anyone help with a pointer
Many thanks
JustinSydney
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Sunny,
How do I trade Forex Morning Trade using the currenex platform though. I have no idea on how to set all this up. I know MT4 and thats about it???
Do you have 'allow live trading' ticked?
I tried, hummm, lots of bad trades but just ok. I like my results better.
12 and 8 Pip winners... what system or settings is/are these results?
busfarehome
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Yes hence the smiley face. Thanks for the one and only suggestion though.
Got it sorted now, 2 reasons stopping it trade, tricky but got there in the end.
Now I am going to let it run on my old PC without interfering with 35 TP 40 SL.
Is it best to have no breakeven?
