ForexMorningTrade System

[hammy66]

Big deal.

Most of you traders on here will fail.

You play around with your settings to much.

Do you really think you are smarter than the rest of us, why don't you pit your stop at 1000 pips then it truly wont be luck like your 45.

Thanks for your kind words !..

hope your day gets better .. ..have another beer !

cheers !..

 

[podberry]

Getting a bit hot in the kitchen I see, cheer up you lot :drunk:

 

[kgk]

Big deal.

Most of you traders on here will fail.

You play around with your settings to much.

Do you really think you are smarter than the rest of us, why don't you pit your stop at 1000 pips then it truly wont be luck like your 45.

Cobber - I don't understand your vileness directed at hammy - did you lose money today following hammy's settings? chill out dude - especially if you don't have anything positive to share.. for the most part, folks have been friendly and mutually supportive.

Just move along.

 

[coral]

Here are Hammy's results compared to my results on default starting 10 March.

Hammy can defend himself, but he has my attention, though I don't understand how he gets his settings (yet). I will just keep on watching 'til I figure it out.

 

[Remraf]

Here are Hammy's results compared to my results on default starting 10 March.

Hammy can defend himself, but he has my attention, though I don't understand how he gets his settings (yet). I will just keep on watching 'til I figure it out.

Well!, just read through all the posts as I've been away for a couple of days, and it looks like I've missed a bit of steam venting! Whilst i didn't trade live today, my demo account using Hammy's settings 55/35/25+5 today returned 6.15 NO TRADE, 6.45 SHORT +35TP (closed at 4.15pm UK time!) and 6.30 SHORT BE+5 (closed at 4.27pm UK time!) - all running through my EA - I must get that SLM account running as I would have been live with it today rather than on demo! - Nice set Hammy - although I think you've reduced your SL to 45, but can't remember why. Regards.

 

[thruster9121]

+30 TP at around 4pm!! I didn't get stopped out due to my SL being set slightly wider than default. I will say that this is less FMT and more luck! I don't consider taking profit at 4 pm to be truly FMT as a system as it took the best part of 9 hours to TP!

I know that probably won't be much comfort to those who took a loss today, but hang in there guys - it's a profitable system if just left to do it's thing.

Cobber your negative comments are not welcome.

 

[Kinger]

Mike1Booth,

Very confused at your comments.
I guess you’re losing in the Forex market as your comments sound very much like that of a frustrated man ?

I posted my comments after not being on this forum for a while, I got an email from trade2win and decided to see who was still on the thread.
So that’s why I didn’t post last December. You comment as “I told you so” really are way off the mark.

Can’t remember when I bought the system, but I know a lot of people trading Forex and I was told about this one from forexfactory.
That’s why I purchased it, and took the results from the previous few months to make up test results as posted, easily done.

There are many methods of trading the opening hours, trading more than one evens out your profits/draw downs over a quarterly period. Eggs and baskets … ?
Doubling your money on one trading system (as you put it) does not exist. Are you telling me IGIndex only use one system ????

It really shocks me sometimes when you help a novice and in return get a kick in the teeth.

By the way my comments are simple advice, you don’t have to listen to them, I do and they’ve worked for me in the past.
Do what you feel best my friend and good luck.

 

[Kinger]

Unfortunately Cobber is right. Probably 90% of people who bought this system (when launched) are not trading it anymore.
For several reasons including boredom, lack of discipline, and chopping and changing settings.
You can go round and round in circles getting the “best fit” settings and then give up. Put your energy somewhere else, the creator of this system has done all the work for you and presented a system that works over time. What more do you want?

Each day, take the trade, who cares what happens. I think some guys here analyse to much, just check what happened at the end of the month. I put my trade on at 6:30am, and switch off my laptop. That’s it until the next day.

 

[wiseambitions]

Mike1Booth,

Very confused at your comments.
I guess you’re losing in the Forex market as your comments sound very much like that of a frustrated man ?

I posted my comments after not being on this forum for a while, I got an email from trade2win and decided to see who was still on the thread.
So that’s why I didn’t post last December. You comment as “I told you so” really are way off the mark.

Can’t remember when I bought the system, but I know a lot of people trading Forex and I was told about this one from forexfactory.
That’s why I purchased it, and took the results from the previous few months to make up test results as posted, easily done.

There are many methods of trading the opening hours, trading more than one evens out your profits/draw downs over a quarterly period. Eggs and baskets … ?
Doubling your money on one trading system (as you put it) does not exist. Are you telling me IGIndex only use one system ????

It really shocks me sometimes when you help a novice and in return get a kick in the teeth.

By the way my comments are simple advice, you don’t have to listen to them, I do and they’ve worked for me in the past.
Do what you feel best my friend and good luck.

The beauty of FMT is in its simplicity.

Just for setting a trade with such simple rules as 40tp, 40sl, then leaving the trade to run:
Without needing to understand pivot points, support or resistance
Without needing to worry about NFP, Housing starts, chopstick production
Without needing to argue about trading Bank Holidays, April, August, December....
Without needing to worry whether we'll reduce TP this week, or widen SL next....
or set break even at 20 or 24.........

560 pips of profit in the last 6 months
2040 pips of profit in the last 12 months :clap:

Surely the secret is in being disciplined, not back testing until you crash your Windows.

I have a strong conviction that fortunes can be made by this system, it's quadrupled my money since I bought it, and that includes taking lots of hits over Christmas.

I know somebody who has meddled with his settings all the time he has ever owned it, and he's wondering why his account isn't growing. Maybe there is a high % of people who bought the system but don't use it now, and maybe there is a group of people who are doing well from it and prefer not to take any notice of any other influence that shakes their confidence.

 

[Kinger]

All true. Not many systems I think of that can do that.
I trade the original settings too, I only add the no trade days for my own preference. As you say in the long term just the original rules prove to be extremely profitable.

I think the break even rule was only added as it was requested ?? (so I heard), so not actually apart of some master long term plan. May reduce draw downs I guess, but will affect profit too, I guess.

chopstick production ?

 

[coral]

My intention is to stay the course. Any deviation(s) will be experimental on a much smaller account on the side. I have great confidence in this system. Up to four straight losers (very rare events) can be expected before I even begin thinking about it, so one loser today is not a big deal at all.

(I hope I have not jinxed it LOL) Good weekend and let's have a great week starting Monday.

 

[dapero]

I am using special settings using FMT turbo but FMT reg version would do the same or about the same. These settings gets me about 98% wins and around 30% a month as you can see on the demo.

That's a GOOD result you have there. Slow and Steady, what's your setting for this result?

 

[barebud]

The beauty of FMT is in its simplicity.

Just for setting a trade with such simple rules as 40tp, 40sl, then leaving the trade to run:
Without needing to understand pivot points, support or resistance
Without needing to worry about NFP, Housing starts, chopstick production
Without needing to argue about trading Bank Holidays, April, August, December....
Without needing to worry whether we'll reduce TP this week, or widen SL next....
or set break even at 20 or 24.........

560 pips of profit in the last 6 months
2040 pips of profit in the last 12 months :clap:

Surely the secret is in being disciplined, not back testing until you crash your Windows.

I have a strong conviction that fortunes can be made by this system, it's quadrupled my money since I bought it, and that includes taking lots of hits over Christmas.

I know somebody who has meddled with his settings all the time he has ever owned it, and he's wondering why his account isn't growing. Maybe there is a high % of people who bought the system but don't use it now, and maybe there is a group of people who are doing well from it and prefer not to take any notice of any other influence that shakes their confidence.

Can I ask what % risk you use if you use the MM feature?

 

[kgk]

Unfortunately Cobber is right. Probably 90% of people who bought this system (when launched) are not trading it anymore.
For several reasons including boredom, lack of discipline, and chopping and changing settings.
You can go round and round in circles getting the “best fit” settings and then give up. Put your energy somewhere else, the creator of this system has done all the work for you and presented a system that works over time. What more do you want?

Each day, take the trade, who cares what happens. I think some guys here analyse to much, just check what happened at the end of the month. I put my trade on at 6:30am, and switch off my laptop. That’s it until the next day.

He may be right - but it's all in the attitude - specially on a public forum where one can voice their disagreement - he didn't have to sound disagreeable to disagree.. that's all

 

[john225]

Wow that Thread has moved fast.

Couldn´t long time. Did something important changed are you guys using own settings or the settings from the producer of this system?

 

[Cobber]

Cobber - I don't understand your vileness directed at hammy - did you lose money today following hammy's settings? chill out dude - especially if you don't have anything positive to share.. for the most part, folks have been friendly and mutually supportive.

Just move along.

Sorry, nothing personal and I apologise to Hammy for being a rude. Don't know what overcome me. Nothing to do with losing a trade or using someone settings.

I'm just bemused by the amount of reactive changes a trader can make to this strategy or any strategy. The market will move quicker than anyone can. There is no point trying to constantly chase the market. Each and everyone to themselves though.

 

[hammy66]

Sorry, nothing personal and I apologise to Hammy for being a rude. Don't know what overcome me. Nothing to do with losing a trade or using someone settings.

I'm just bemused by the amount of reactive changes a trader can make to this strategy or any strategy. The market will move quicker than anyone can. There is no point trying to constantly chase the market. Each and everyone to themselves though.

apology accepted !!..

cheers mate !..

 

[RedGuerrilla]

When you get a no trade how do you find out which way is profit and which way is loss

Sorry, I should not have said no trade days.

What I meant was not to trade the following days, based on Kinger's advice:

Never trade April and August (traders on holidays, mostly for low volumes)
Never trade bank holiday days in the UK or US.
Never trade the week leading up to Christmas or the week between Christmas and New Year.
Never trade the first week in January.

I added all the trading data of Mark from Aug 2, 2011 to Apr 14, 2011, Apr not yet done.
Based on Kinger's advice, had Mark not traded the above days, he would NOT have lost -252.5 pips.

I'm going to keep track of this data until a whole year completes on Aug 2, 2011, to get a whole year of forward testing on Kinger's advice.

References:
Page 1069, Post #8549
Page 1050, Post #8396

 

[tkbieber]

I'm just bemused by the amount of reactive changes a trader can make to this strategy or any strategy. The market will move quicker than anyone can. There is no point trying to constantly chase the market. Each and everyone to themselves though.

I too am in wonder, even my good friend runs in circles chasing that crazy market with changing settings almost every day. Just makes me ill.

 

[RedGuerrilla]

Originally Posted by Kinger
Hi all, I haven’t looked at this thread much for the past 6 months. But I’ve been trading this system with the original rules (as they work) for 4 months after forward testing for 6 months. I like this system as it’s very similar to another method I use which has been running for over 4 years and very profitable.

What advice I can give to you guys is this:

Never trade April and August (traders on holidays, mostly for low volumes)
Never trade bank holiday days in the UK or US.
Never trade the week leading up to Christmas or the week between Christmas and New Year.
Never trade the first week in January.
...
RedGuerilla:
Excluding errors and omissions, I added all the no trade days from Aug 2010 to Apr 2011, Apr not done yet, using Mark's trading data.

So far, total pips lost = -252.5, 11 profits, 17 losses.

..............

Isn’t hindsight a wonderful thing? And I am really surprised at you RedGuerrilla for buying into this!

Isn’t it a little convenient for this info to come onto this forum after the last two weeks of poor results? You think this is what buyers of FMT want to hear after the last two weeks results? Some “I told you so” telling us all that we really should have gone on holiday this month?

PLEASE!!!!

We already knew that the three weeks mentioned over Christmas were rubbish. Those results are published on Mark’s journal as are the results of August last year. We didn’t need a detailed “No Trade Dates” sheet on those periods to know that losses exceeded wins! As for the months of April, last year April had the same result as March (using original 40/40 settings) and was better than February or May. So using last year’s figures we should all holiday February and May and trade March and April.

Tell you what, I’ll have a quick look over the last six months results and tell you the best exact dates to trade and the exact dates to avoid. I can guarantee that the first batch will be all wins and the second lot will be all losses.

Isn’t it a pity that Kinger didn’t give us the benefit of his “experience” around the 15th December last year?

I sincerely hope his detailed files on human anatomy are more useful!!???

Mike

Mike,

You took my analysis all wrong. This has nothing to do with hindsight.

This forum is great because I get ideas I have not thought about before.
Yes, I knew about Christmas, but I never thought about USD and GBP bank holidays.
I also knew about Aug based on Mark’s data, but we have never had a forwarded tested Apr.
FMT started forward testing Aug 2, 2010, check Mark’s website.

The whole basis of Kinger’s advice is to not trade during low volatility or volume.
I only care about forward testing. I am going to take every trade until Aug 2, 2011 which completes a year of forward testing for FMT.

Mark is taking every trade, and this is what I’ll be doing too.

If after a year of forward testing, Kinger’s advice comes out to be good advice, then I will use it.

Patient: uncomplaining, long-suffering, forbearing, calm, unexcited, self-possessed, composed, untiring, showing capacity for endurance, state of endurance under difficult circumstances . . .

Patience, a characteristic all pro traders have and rookies lack.