ForexMorningTrade System

[Maxmerlin]

Yup. I use same settings & timing as GU. Although GJ is kinda risky pair buyt i like d "extra" juice. Yummy.

 

[bluedancer]

I did an interesting backtest today with the settings tp 80, sl 40p, move to be at 24 with a 40 pip trailing stop.

I went back 4 years. I started with 8% risk, and changed lots size only every 2 weeks or longer when in profit. Sometimes it took 5-6 weeks to get back into profit, but once I changed the lot size I never reduced it. After 4 years to today 1000 became 812,400. I used 8% because on backtesting this was a safe high risk with fixed lotsize and it weathered all the drawdowns well.

 

[JRJ]

it's great your system! Not very different to the one I use - net trap . Winners all round -

 

[suresh3101]

Buy order GBPUSD at 1.56814..
My EA closed the order at 1.57214..
40pips profit.. 400$ at 1.0 lot..
Its nice to boast when the profit comes!!
but its nice to hide when losses come!!

 

[Fabius]

Got 40pips with FMT...
400$ in live trade.. Mark ur rockin man!!
will enjoy my weekend!!
1200$ for this week!!no losses..

Hit the SL already?

Did I get in too late? My entering point is @ 1.5684, yours? At the beginning of 7.30 candle on 7.15 candle data?

I am glad for you mate :cheers:

 

[bluedancer]

Hit the SL already?

Did I get in too late? My entering point is @ 1.5684, yours? At the beginning of 7.30 candle on 7.15 candle data?

hmm my charts only got up to 1.5721, so no 40 pips yet

 

[Maxmerlin]

I did an interesting backtest today with the settings tp 80, sl 40p, move to be at 24 with a 40 pip trailing stop.

I went back 4 years. I started with 8% risk, and changed lots size only every 2 weeks or longer when in profit. Sometimes it took 5-6 weeks to get back into profit, but once I changed the lot size I never reduced it. After 4 years to today 1000 became 812,400. I used 8% because on backtesting this was a safe high risk with fixed lotsize and it weathered all the drawdowns well.

Wow. That's some serious & interesting data compiling. I also wonder how long will this current trend will last that's supporting our FMT type of trades.

 

[Fabius]

I did an interesting backtest today with the settings tp 80, sl 40p, move to be at 24 with a 40 pip trailing stop.

I went back 4 years. I started with 8% risk, and changed lots size only every 2 weeks or longer when in profit. Sometimes it took 5-6 weeks to get back into profit, but once I changed the lot size I never reduced it. After 4 years to today 1000 became 812,400. I used 8% because on backtesting this was a safe high risk with fixed lotsize and it weathered all the drawdowns well.

Yup, really interesting but indeed. I'll try it out with a smaller size (80 pips SL scares me a bit )

 

[tkbieber]

Got quick 30 pips tp in 15 mins. :clap: Now bed time.

 

[suresh3101]

Hit the SL already?

Did I get in too late? My entering point is @ 1.5684, yours? At the beginning of 7.30 candle on 7.15 candle data?

I am glad for you mate :cheers:

Thanx fabius..
I dint enter manually..
I jus kept my system on and the FMT EA entered the trade at 1.56814..
I moved the stoploss to 1.56614 when the price crossed 1.56014..
once the candle crossed the resistance line, i set the takeprofit at 1.56214 and it hit the target mate..

 

[Fabius]

Got quick 30 pips tp in 15 mins. :clap: Now bed time.

Good night and sweet dreams

 

[Maxmerlin]

GU +38
GJ BE due to down spike / stop hunting? I dunno coz for a while i was up 29 pips.

 

[bluedancer]

Yup, really interesting but indeed. I'll try it out with a smaller size (80 pips SL scares me a bit )

It is only a 40 pip stop loss with a trailing stop of 40 pips. the full stop of 40 pips is very rarely ever hit as the trailing stop goes with the trade as soon as it is open. The BE was hit so that also reduced losses.

The take profit is 80 pips and it was hit regularly, and that is what helped the account grow more quickly.

 

[Fabius]

It is only a 40 pip stop loss with a trailing stop of 40 pips. the full stop of 40 pips is very rarely ever hit as the trailing stop goes with the trade as soon as it is open. The BE was hit so that also reduced losses.

The take profit is 80 pips and it was hit regularly, and that is what helped the account grow more quickly.

I read 80 SL instead of TP, maybe too sleepy yet .
Thank you for clarifying the point

 

[suresh3101]

Guys one small suggestion..
I think entering the trade manually at the open of the candle in the blue area costs 2 to 3 pips..
So i prefer using the FMT EA to enter the trade and then we can manage the trade manually.. because today, the EA entered the trade and i took 40pips profit..
had i entered manually i wud have got in 0ne or two pips late and wud not have hit the 40pips tp..

 

[JRJ]

What are the average pips per week with this system (or per month)?

 

[bluedancer]

Today I tested the manual confirmation option with the EA and as a result I got in late on the trade at 91. With manual confirmation the EA's settings were set with a confirmation request to modify the trade. Then I was asked to modify the trade every time the price went up, in order to change the stop with the trailing stop. Then I just changed it back to do not ask manual confirmation. That option works for those who are nervous about the indicators.

I was stopped out a BE since I got in so late... but for me these live tests are good, as I can learn how to use my options.

 

[bluedancer]

What are the average pips per week with this system (or per month)?

From backtesting JRJ I think it is better to see the system performance as pips per 2 months. There are losing weeks, break even weeks and weeks with many pips, and they seem to go in cycles of 2 months. i suggest doing backtests of a variety of 2 month periods to see what you get and then take an average of those.

Blue ~ Happy like the sky

 

[Fabius]

Today I tested the manual confirmation option with the EA and as a result I got in late on the trade at 91. With manual confirmation the EA's settings were set with a confirmation request to modify the trade. Then I was asked to modify the trade every time the price went up, in order to change the stop with the trailing stop. Then I just changed it back to do not ask manual confirmation. That option works for those who are nervous about the indicators.

I was stopped out a BE since I got in so late... but for me these live tests are good, as I can learn how to use my options.

I am sorry to hear this...
I stopped out at +20 due to my trailing stop with the first position.
Daily R2 is acting as strong resistance at 1.5704.
The other one had no TS so I am back again

 

[bluedancer]

I am sorry to hear this...
I stopped out at +20 due my trailing stop with the first position.
Daily R2 is acting as strong resistance at 1.5704.
The other one had no TS so I am back again

I may trade again in a little while - will see, but ya I would like more cash this week!:clover: