ForexMorningTrade System

[Slurpeeforex]

me too, but I am a little bit afraid of long candle filter....

 

[Remraf]

LONG, but a little cautious this morning, it looks well oversold.

 

[andybissell]

Long. Didn't trade yesterday due to bank hols, looked like a NT anyway!

 

[leoaloha]

Alpari(US) LONG

 

[andybissell]

out already SL -38

FMT Account : £847 (-15.3%)

 

[deserteagle]

Very nice setup deserteagle. Your really on top of your forex trading. How long have you been trading the system? I am new and have had terrible luck so far but I a determined to make this work.

Thanks for sharing this information

Thank you, I trade FMT since November.
Not too much luck today, -38 pips

 

[deserteagle]

Thanks for the Spreadsheet. I dont know if this was coved or the philosophy behind the idea but looking at the data, How would the stats be if One decided NOT to trade on Wednesdays?

Hi, a couple of weeks ago I have written some stats about this, if you find with keyword "wednesday" I think you will get it.

 

[RobM.]

LONG, but a little cautious this morning, it looks well oversold.

Yes. Ranging and resistant. Fingers crossed! It's all we rule-followers can do. SL38 is out on most brokers I'd bet. 40 and up survive.

 

[jimmc]

I'm using Turbo and ADR filter caused a no trade today - too volatile during the Asian session. Mind you, it caused 2 no trades last week which I believe turned out to be winners for FMT!

 

[deserteagle]

Deserteagle, very impressive work, thanks.
When I compare the results at the different days, the conclusion should be "don't trade on Wednesday".
Here the comparison for Desert 651 I (data in pips)

Mo: 53
Tu: 200
We: -170
Th: 471
Fr: 134

One question concerning the setting:
38SL 38TP 27BE 5ADD
What do you mean with 5ADD ? Do you mean "5 Break even Add Pips"

Second question concerning the data:
Pip data is clear.
What is the difference between Profit detail I and II ?

Third question concerning the time period:
Are all week No identical, meaning that you compare the same time period? Or are these different times? It seems that you started all in second week of 2011, correct?

Thanks for clarification and again for the superb comparisons.

Best

Antomi

Hi Antomi,

1- Yes, ADD means parameter BreakEvenAddPips
2- Profit I: compounding weekly, Profit II: flat.
3- Not sure at all what is your doubt, but data colleaction starts on week number 2, (Monday January 10th).

Cheers

 

[RedGuerrilla]

Stats for 05-30-2011



Live Accounts:

FMT 4.3, EA standard settings: 45 SL, 25 BE, +5 BE, 35 TP
6:15 UK Time, FXSolutions..., No Trade......, 0.0, Stats since 11-08-2010: Total= +30.0
6:15 UK Time, IBFX.........., No Trade......, 0.0, Stats since 01-04-2011: Total= +223.4
6:15 UK Time, PFG Best......, No Trade......, 0.0, Stats since 03-01-2011: Total= -29.6




Demo Accounts:

FMT 4.3, EA standard settings: 45 SL, 25 BE, +5 BE, 35 TP
6:15 UK Time, PFG Best......, No Trade......, 0.0, Stats since 02-01-2011: Total= +333.2
6:15 UK Time, FXCM.........., No Trade......, 0.0, Stats since 02-01-2011: Total= +446.5
6:15 UK Time, Alpari(US)...., No Trade......, 0.0, Stats since 02-01-2011: Total= +401.4
6:15 UK Time, FXDD.........., No Trade......, 0.0, Stats since 02-01-2011: Total= +326.0



Notes:

All pip totals include slippage
FXSolutions is the only dealing desk broker

 

[WhoDares]

Hi All
I have just started this week. I notice a couple of threads saying out with a loss of 38 including Deserteagle but I am still in. Currently down 7. I saw a spike down but it did not hit my stop.
Obviously I am using the suggested figures for the automated set up. Is this where the difference lies?

 

[WhoDares]

Sorry demo account.

 

[ffchaci]

Out at SL -38 for me this morning. I don't use TMT but price action looked v.oversold during Asian session so reduced my risk 50%. Glad that fiddling worked for me this time. Wouldn't recommend it though.

 

[GumRai]

Out at SL -38 for me this morning. I don't use TMT but price action looked v.oversold during Asian session so reduced my risk 50%. Glad that fiddling worked for me this time. Wouldn't recommend it though.

If you considered it looked very oversold, why would you reduce your risk on a long position. That makes no sense at all ???? If anything it should give you more confidence with a long.

 

[Euro_d]

Hi All
I have just started this week. I notice a couple of threads saying out with a loss of 38 including Deserteagle but I am still in. Currently down 7. I saw a spike down but it did not hit my stop.
Obviously I am using the suggested figures for the automated set up. Is this where the difference lies?

Welcome to FMT.
I am still in as the SL was not hit on Alpari UK Live.
The trade was a clear signal on FMT (but not on TMT which is another story!) However, there are valid reasons as posted by others as to why a reduced risk might have been a sensible approach.
That said, all indicators are generally pointing north so we might just jet a TP.
For me, the trade is a non standard TP=10 so I am not looking for a great deal of movement today.

 

[Tenapenny]

If you considered it looked very oversold, why would you reduce your risk on a long position. That makes no sense at all ???? If anything it should give you more confidence with a long.

Maybe he means overbought, looking at the chart.

 

[WhoDares]

Hi. finally did go south. -22

 

[Euro_d]

Hi. finally did go south. -22

It is always difficult for newbies to accept early SL's, but believe me, FMT has nice tight SL and a good risk reward ratio.

Look through either Marks or some of the expert posters here who have a great deal of live historical data that shows FMT is a very viable proposition in the long term.

 

[WhoDares]

HI, may be a newbie for FMT but been using MT4 for a while so very familiar with SLs. That's why I am demo trading at the mo.
No being silly with the amounts. Real world. So yes 1 day does not set a pattern.
In for the long term.