podberry
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Well. in conclusion for this week, at least FMT had as all going in the right direction for a while before stopping us out on the new settings - Just unfortunate momentum was not on our side... Alls well, at least we never lost money, hopefully the coming Easter Period will hold up with liquidity and not produce any funnies.
Have a great weekend all and may the pips be with us next week
Have a great weekend all and may the pips be with us next week
jabu99
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Pleasure is mine
You are invited for a Tbone steak and a castle beer ,this afternoon SA time
Castle? Nah! You got any Liffe Blonde down there?
Out at b/e again. Roll on next week. Good w/e all.
deserteagle
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Talking about the Easter Period, are you going to trade that week?
I'm in Spain, here that week is like holidays, no school the entire week, public holidays Thursday and Friday, so very few activity, how is it in UK?
I'm in Spain, here that week is like holidays, no school the entire week, public holidays Thursday and Friday, so very few activity, how is it in UK?
wiseambitions
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We've got 4 bank holidays coming up here, Easter (Friday and Monday) and the Royal Wedding (another Friday) and then the first Monday of May is one too.
Just looking at last year, the week prior to Easter contained 3 long trades. 2 contained at least 40 pips of profit, the other was a B/E meaning it just exceeded 20.
Easter Monday was a loser, and not even 10 pips profit was there to be had.
The rest of that week was fairly normal with at least 30 pips of profit on whatever days FMT traded.
I guess it's up to the individuals, and if they leave their EAs running or want to trade manually. I think I'll carry on regardless, there's at least a 50pc chance of being right surely?
jabu99
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We've got a 3 day week here with Friday 29th a holiday to celebrate Kate and Willie getting buckled and then 2nd May a bank holiday. So perhaps tighter TP and stops with manual intervention for the wise trader?
8th April All times Alpari UK
Standard FMT settings with Hammy66 timings on live Alpari UK account, result today:
07:15 BE
07:30 BE
07:45 BE
Catfish settings (see #7525) with Hammy66 timings on a demo Alpari UK account, result today:
07:15 WIN
07:30 WIN
07:45 WIN
Change in live account balance for last week +£506. No wins or losses, all gains due to BE
Standard FMT settings with Hammy66 timings on live Alpari UK account, result today:
07:15 BE
07:30 BE
07:45 BE
Catfish settings (see #7525) with Hammy66 timings on a demo Alpari UK account, result today:
07:15 WIN
07:30 WIN
07:45 WIN
Change in live account balance for last week +£506. No wins or losses, all gains due to BE
catfish911
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Goes back to what I said yesterday - was tempted to go BE after the run of '+30 gains then reverse past SL' losses this week, but knew the day I changed from my settings would be the day I would win without BE... Out at +35 today. I have decided to reduce my TP setting by 2 pips from 37/48 to 35/48 due to spread, it hardly has affected profit over last couple of years as makes win rate a bit better, also brings me in line with Mark's default TP setting. If there's one person I would trust to optimise settings it would be him.
Been a poor week, but I have checked pips to date 2011 against same period 2010 and 2009 and it's still performing well so far, better that 2009 actually.
Settings 35/48 no BE:
2009 year to Fri 9th April - +295 pips
2010 year to Fri 8th April - +741 pips
2011 year to Fri 8th April - +497 pips
Until this week, 2011 pip gain was almost on par with 2010, and the year end results of 2010 would have made me a very wealthy man by the end of the year... Consistency is the key - maybe that is the basic flaw why so many traders failing in forex? Not sticking to the system rules, even through the drawdown times?
Saw some discussion about bank holidays over next few weeks, to trade or not to trade. On the basis I didn't exclude any bank hols (or news releases etc) in my backtests I think I'll trade them regardless. Good luck next week all
deserteagle
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In the backtests, specially in the middle long term, the FMT performance is excellent, so you could not notice the bank holidays effect, I mean not all the bank holidays, but maybe Christmas, August, Easter. I suppose we could have better information about that 'effect' by backtesting just those periods. For example, I am so glad to not have been trading last Christmas period.
I think I will not trade Easter Friday and Monday.
Last edited:
andybissell
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I lost my gamble so I will see you in a couple of weeks when I get it back!
I lost my gamble so I will see you in a couple of weeks when I get it back!
How did you lose? I thought that you were using FMT original settings 40/40 no BE
I just realised that you must be trading with Smart Live Markets?
With 920 Pounds in your account, you would have had a margin call well before the 40 pips stop if betting 5 Pounds per pip.
I guess that SLM closed the trade for you.
I lost my gamble so I will see you in a couple of weeks when I get it back!
If I'm right and you are trading with SLM, you get losses refunded up to a maximum of 300 Pounds during your first month. If I remember correctly, you do not have to wait until you have had your account open for 1 month. You can apply for the refund at anytime, but you can only get it once. Ie if you make a loss of 250 Pounds after 2 weeks and apply for the refund, you will get the 250 Pounds back. If you carry on and lose another 50 Pounds, you cannot get that refunded. So I think that you can apply for your refund now, no need to wait until your account has been open for a month.
I had the (bit over 100 Pounds) refund from them in January and it was credited to my account within a few hours.
Mind you, I don't know what conditions apply exactly. Can't remember now, but if you have made a series of 10 pence trades and suddenly change to 5 Pounds and it is obviously for profit or bust, knowing that you may get any losses refunded, they may decide not to refund
I don't really understand why some are still using the original FMT settings and not using the BE function. Not picking on you folks at all, would just like to know the rationale for sticking with the no BE option, maybe you know something I/we don't ?
A quick back test on a 10K account using 5% from January 1, 2009 to present.
BE - 20
Add Pips at BE - 3
$ 522,651
BE - 0
Add Pips at BE - 0
$ 373,000
A quick back test on a 10K account using 5% from January 1, 2009 to present.
BE - 20
Add Pips at BE - 3
$ 522,651
BE - 0
Add Pips at BE - 0
$ 373,000
FMT for me this morning (55-35-25-5)
6:15 start, signal buy trade, hit TP +36 pips
6:30 start, signal buy trade, hit TP +36 pips
6:45 start, signal buy trade, hit TP +36 pips
total today +108 pips..
total for the week +148 pips..
makes for a nice weekend ..
6:15 start, signal buy trade, hit TP +36 pips
6:30 start, signal buy trade, hit TP +36 pips
6:45 start, signal buy trade, hit TP +36 pips
total today +108 pips..
total for the week +148 pips..
makes for a nice weekend ..
Agree. SLM are proving to be better than I anticipated in terms of execution. No slippage on entry or exit on 1st live FMT EA trade with them today.
I'm assuming that the first test used 40 SL 35 TP, and the second 40/40 ?
I'm sure that others have done backtests and found that not using BE improves the results.
You must have an extremely good data feed to be able to backtest back that far, are you sure that your results are accurate?
Both were SL 40 and TP of 35. Tested both on Alpari Uk and have double checked... over and over... results were consistent. (Used MM = True )
Add pips at BE - 5 came to just under $ 500,000 K for the same time period.
Add pips at BE - 0 came to just under $ 475,000 K for the same time period.
I wondered the same thing about people back testing and concluding that no BE must have been better, but I can't seem to make that work at all... not even close... so was wondering what I must be missing ?
Add pips at BE - 5 came to just under $ 500,000 K for the same time period.
Add pips at BE - 0 came to just under $ 475,000 K for the same time period.
I wondered the same thing about people back testing and concluding that no BE must have been better, but I can't seem to make that work at all... not even close... so was wondering what I must be missing ?
