ForexMorningTrade System

Isn't today a holiday in the UK? Just wondering if some of the veterans have any ideas why today price action was relatively normal at the London open - compared to other holidays like Good Friday where price barely moved before the open, and then it suddenly moved erratically? Is Victoria day a holiday for only some people in the UK, whereas Good Friday is a holiday for everyone? Or is it all just random price action on all holidays? Cheers
 
trader578 said:
Isn't today a holiday in the UK? Just wondering if some of the veterans have any ideas why today price action was relatively normal at the London open - compared to other holidays like Good Friday where price barely moved before the open, and then it suddenly moved erratically? Is Victoria day a holiday for only some people in the UK, whereas Good Friday is a holiday for everyone? Or is it all just random price action on all holidays? Cheers
Click to expand...

No Today is not a UK Bank Holiday, but next Monday will be.
 
As a way of comparing seeing how the latest FMT recommended (Hammy66) setting works, here are the results of the last 10 sessions:

40/40 no BE FMT1 -160
35/40/BE@20 FMT2 -205
35/45/BE+5@25 FMT3 - 80

The newest set seems to be doing better i.e. less badly in the recent conditions.

Now, here's a comparison of YTD performance for various sets I watch, 2010 results in brackets.

Deserteagle 43TP/65SL/BE @20 337 (447)
FMT1 40/40 no BE 320 (440)
28/40 no BE 292 (440)
10/40 no BE 260 (120)
FMT2 35/43/BE@20 210 (235)

The order of performance is roughly the same
 
Results today:

06:15 Entries (live accounts)
45/35/25/5 --- Alpari UK (+35)
40/30/25/5 --- Think FX (+30). However was a No Trade on Think FX -- I entered manually as I liked the look of trade and went with other Broker's signals that told us to go short.

06:30 Entry (live accounts)
40/10 --- SLM (+10)
 
Well, I must have a wrong time then...:( on my platform (Instatrader) it is clear No Trade... Momentum is 100.11, CCI -92,48... Time 7:15 Central European, London +1 :confused:
 
Re: Very Disappointed

wiseambitions said:
Hi Sam
I've just been looking at the last 6 months performance in my trading and in my forward testing on a daily basis of various alternative exit settings. And of course I can see where you are coming from.
If one had stayed away over those periods there might have been savings of around 200 to 250 pips of losses and the total result would have been a lot more palatable.
As it happens I don't trade the recommended settings, as I go for a more conservative approach to try and improve the PF for compounding. If I had traded every day on the settings I use I would have moved forward by 316 pips, and more than that of course had I avoided the Christmas,New Year and Easter periods.

Going back 7 months instead of 6 things don't look quite so bad. That's because October was a reasonably good month.

Obviously we hope that FMT is going to do better. The indications from the web site are that June and July 2010 were brilliant months. It is not unusual for markets such as equities to go in spurts with occasional pullbacks. And sometime yesterday I put up the results of various sets for the last 10 trades and I compared them with what I think would have been the outcome for 12 full months, which would have been nearly 200 trades. What I saw happening there was the sets which have done worst in the last 10 trades in difficult conditions would have done best in the run of 12 months. And the sets which lost the least in the last 10 sessions would have gained the least in a full 12 months. This experience also links with the production of managed funds, where the cautious ones are less volatile but more steady whereas the adventurous ones tend to be much more variable in the short term even if they emerge as the long term winners.

It may be the case that you have a couple months where your results improve and beat mine. We don't know on a daily basis whether today's is going to be a good trade or not, and if we were to reduce risk or stop trading for a period we could easily miss the recovery.
Click to expand...

"Looking at 6 months - 21st November 2010 through to now, 20th May 2011 we have had a sticky patch where I have to say the official settings of 35/40+BE@20 would have only gone forward by 15 pips. 40/40 without BE would have gained 160. These numbers assume the week of Christmas, and around the New Year and also Good Friday (which had a signal) were traded. "


The statement you made above is the same fact that Sam was making before you tore his head off like you do to anyone who does not see your view,But the facts are simple even after today wins over the last 7 months this system has not made ANY MONEY , your "after the fact' comment about not trading during the hoildays are not shown on the offical results, and your own exits that you use are also not part of the offical results. I am sure many here have their own way to exit and enter trades, But this of little use , and the fact remains that the comment the Sam made are ture and vaild.

PS: keep in mind you DO NOT OWN THIS THREAD
 
Slurpeeforex said:
Well, I must have a wrong time then...:( on my platform (Instatrader) it is clear No Trade...Time 7:15 Central European, London +1 :confused:
Click to expand...

Hi, Please remove the indicators as this is a public thread and open to everyone. I also had a no trade today at 6.15 and i am using SLM. However, from 6.15 to 6.30 there were instances where a valid signal would have been given. I suspect that others may have jumped on in the time range from 6.15 to 6.30. At sharp 6.15 today on SLM there was no trade today but it does seem that other platforms gave a signal at 6.15.
 
Re: Very Disappointed

Too Sexy said:
"Looking at 6 months - 21st November 2010 through to now, 20th May 2011 we have had a sticky patch where I have to say the official settings of 35/40+BE@20 would have only gone forward by 15 pips. 40/40 without BE would have gained 160. These numbers assume the week of Christmas, and around the New Year and also Good Friday (which had a signal) were traded. "


The statement you made above is the same fact that Sam was making before you tore his head off like you do to anyone who does not see your view,But the facts are simple even after today wins over the last 7 months this system has not made ANY MONEY , your "after the fact' comment about not trading during the hoildays are not shown on the offical results, and your own exits that you use are also not part of the offical results. I am sure many here have their own way to exit and enter trades, But this of little use , and the fact remains that the comment the Sam made are ture and vaild.

PS: keep in mind you DO NOT OWN THIS THREAD
Click to expand...


Basically I have no intention in prolonging this argument. The fact of the matter is that those of us who have been adhering to the system for 8 and mor months by now were in active discussion about Christmas and did NOT trade. Personally I have more than doubled my money with FMT already and am happy with it. That's all I want to say and I know others who would say the same. Good luck with your trading.
 
meshgh said:
Hi, Please remove the indicators as this is a public thread and open to everyone. I also had a no trade today at 6.15 and i am using SLM. However, from 6.15 to 6.30 there were instances where a valid signal would have been given. I suspect that others may have jumped on in the time range from 6.15 to 6.30. At sharp 6.15 today on SLM there was no trade today but it does seem that other platforms gave a signal at 6.15.
Click to expand...

Was your SLM demo or Live account?
My SLM live account gave a trade signal at both 06:15 and at 06:30.
 
Im using FMT live, a short signal at 6.15 but it hit BE after 20pips profit (as suggested) and continue going down after that. miss the trade for today >_<
 
Jashfx said:
Was your SLM demo or Live account?
My SLM live account gave a trade signal at both 06:15 and at 06:30.
Click to expand...

I am using SLM Demo, I use this to read my signals and then place my trade on my live ig index account. Are the price feeds not the same for SLM Demo and SLM Live? In which case I better open a SLM LiVe account...
 
Jezeckiel said:
No trade on FxPro (6h15)

Am I the only one ?
Click to expand...


No, the correct action today was a NT.

I guess the reason some ppl were short is that their charting tool's 60 period starts again in the new week. i.e. my chart shows NT since it takes into account some of Fridays late action, whereas I would assume others' charts do not.
 
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