podberry
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Have a look at thier maximum trade lots on the micro home page, 5 lots max counts wiseambitions out. 😆
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Have a look at thier maximum trade lots on the micro home page, 5 lots max counts wiseambitions out. 😆
Well, some of you may know what happened over the last couple of days in the USA southerns states. I am right in the middle of the tornado devastation. I feel very blessed that we didn't loose everything. Our power was out about 24 hrs and the closest tornado touched down about a half mile from where I live.
Video
You can see what my neighborhood looks like with the devastation everywhere.
Needless to say, trading didn't happen much for me this week. One of my accounts closed out in profit before the market climbed 290 pips, so actually is up 4% or so.
The other didn't make it so it did suffer a loss.
Details here.
This week= Loss -32%
Yes, I have it set at high risk for a reason. You will see the reason at the end of May. 😉
(I hope) 😆
Video
You can see what my neighborhood looks like with the devastation everywhere.
Needless to say, trading didn't happen much for me this week. One of my accounts closed out in profit before the market climbed 290 pips, so actually is up 4% or so.
The other didn't make it so it did suffer a loss.
Details here.
This week= Loss -32%
Yes, I have it set at high risk for a reason. You will see the reason at the end of May. 😉
(I hope) 😆
podberry
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I was hoping to get a response from him, must be having a street party after watching the 'pomp and pageantry' today. Guess I'm bored - Roll on Tuesday :clap:
Apologies if this is obvious, must have missed it, what does ADD mean? Are we adding another trade at this point?
Thanks.
I am glad you and your family are well. Don't worry about the loss, money comes and goes...all the best.
I think we can all endeavour to be traders of FMT, but one way or another we also investors of our own currency. Perhaps the best way to think about it is what do you think will be the most valuable currency in the world one year from now? If you think it is EUR, then set up your trading account in EUR. If you think it is USD, then set up your trading account in USD. Whether we like it or not, during the stagnant hours when we are not trading, we are still invested in the base currency of our choice. Cheers.
deserteagle
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Hi WiseAmbition,
The above is really interesting - and reassuring! I'm still not sure on the best settings to use, however (I have Turbo MT). I'm quite conservative and prefer a smaller stop loss to take profit setting, but I realise that this is not the best way to operate FMT (which does have a good % of profit trades to loss trades). Would it be possible for you to advise on the settings that you are currently using. You have been using FMT for quite a while now and I trust your wise judgement!
wiseambitions
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Hello, if you're using an EA I can't see any reason not to be using the recommended settings, which were revised a couple weeks ago, although they might be the second change since FMT went public.
In my experience the optimum settings depend whether you're after the maximum number of pips - for income - or whether you want the maximum potential for rolling up with money management. If that is what you are seeking, then the key performance indicators of drawdown and payoff come into play, and the optimum settings are actually exits which might not give so many pips. At the moment, my answer to that is that I am using a simple combination for money which I am trying to compound which is a hybrid between 10/40 and 30/40, but without break even resetting. Perhaps if this system produces a convincing and consistent result over the next couple of months I will say more about it.
I wish you well but recommend you decide on a plan and stick to it. If you changed every month and chose the last month's best settings I guarantee the outcome will disappoint you because you won't do so well.
Many thanks for your advice. I will think about what you say and decide on my plan. I will be interested to see how your plan works out and wish you well too!
Isn't FMT the investment, and isn't "trading" the tool we use to grow the investment?:|
Adamus
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I wish I knew. I was hoping someone would point out a clear and precise difference between trading and investment - something that shows how trading cannot be an investment or an investment cannot be trading. A technical reason - but I suspect it's just a matter of opinion.
I know a lot of people say an investment is something where you can only lose your original stake, but that's just a question of leverage. A house/property is classically viewed as an investment, but look at all the people who wound up in "negative equity" after the last housing crash.
And a trade is often considered as something where you can lose more than your stake, but similarly that's not true when trading long options for instance.
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wiseambitions
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Here's something interesting.
One or two members have commented on some days of the week being more profitable than others, by which they mean the FMT trend works better.
I have noticed looking through Mark's journal that if he only traded Thursdays he would have actually gained more pips in the 17 weeks of 2011 so far than by trading all 5 days. I cannot say the same for all other settings, but even the more aggressive sets like Deserteagle have done best on Thursdays.
Looking at Wednesdays, the usual sets eg 40sl,35 to 40 tp, have lost far more pips than they ever gained. This is also true for more agressive sets eg Deserteagle (65sl). Only one set of the range I monitor daily actually comes out with a profit for trading Wednesdays, and that is 10Tp/40SL.
17 weeks' experience is hardly a significant dataset to rely on for the long term, but it's enough to make something worth talking about
One or two members have commented on some days of the week being more profitable than others, by which they mean the FMT trend works better.
I have noticed looking through Mark's journal that if he only traded Thursdays he would have actually gained more pips in the 17 weeks of 2011 so far than by trading all 5 days. I cannot say the same for all other settings, but even the more aggressive sets like Deserteagle have done best on Thursdays.
Looking at Wednesdays, the usual sets eg 40sl,35 to 40 tp, have lost far more pips than they ever gained. This is also true for more agressive sets eg Deserteagle (65sl). Only one set of the range I monitor daily actually comes out with a profit for trading Wednesdays, and that is 10Tp/40SL.
17 weeks' experience is hardly a significant dataset to rely on for the long term, but it's enough to make something worth talking about
podberry
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podberry
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Looking at the results for May, June, July, for the last 2 years we are going to make some serious money, personally I will start trading again on Tuesday as it is another bank/public holiday tomorrow (Monday) in the UK. The last one until the end of the month, thank god :drunk:
Thanks for the quick reply. Does that make it 06:15 my time with the 5 hour time difference?
podberry
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No, the EA is triggered on your brokers time, doesn't matter if you are in Timbuktu or Beijing China, set it to 1H15 and you will be fine. 🙂
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