ForexMorningTrade System

wiseambitions said:
Russ Horn indeed gives the video commentary on the FMT landing page.
I have no intention of being one of the 750 either. I did get Forex Rebellion which seems quite a sound package, but the idea of waiting for a trade to line up doesn't suit me. FMT with its fixed time starts and simple rules (which usually work - Please can the performance get back to normal though!) suits me better. I recall MF last October or November also plugged a system by Jason Sweezey called Forex U Turn. I fell for it, but that's so like Forex Rebellion it looks like a black box copy. Sweezey is also promoting the new Russ Horn system, even more aggressively than MF. I've looked at the promotional website and one or two of the videos. My first impression is that this seems like a dressed up version of Forex Rebellion. Some of the steps are the same, eg moving stop loss mid-trade. Doubtless more will be said soon, but let's hear the first 750 are elated before getting sucked in by all the hype. Because of course the next EA will be launched any time soon. They usually launch just after a good run, or am I being a cynic?
Click to expand...

Good review Wiseambitions, thanks for taken the time to write it. Michael
 
Stats for 06-02-2011



Live Accounts:

FMT 4.3, EA standard settings: 45 SL, 25 BE, +5 BE, 35 TP
6:15 UK Time, FXSolutions..., Short/Loss........., -46.0, Stats since 11-08-2010: Total= -62.0
6:15 UK Time, IBFX.........., Short/Loss........., -45.6, Stats since 01-04-2011: Total= +132.6
6:15 UK Time, PFG Best......, Short/Loss........., -44.8, Stats since 03-01-2011: Total= -74.4




Demo Accounts:

FMT 4.3, EA standard settings: 45 SL, 25 BE, +5 BE, 35 TP
6:15 UK Time, PFG Best......, Short/Loss........., -49.0, Stats since 02-01-2011: Total= +238.9
6:15 UK Time, FXCM.........., Short/Loss........., -46.0, Stats since 02-01-2011: Total= +356.9
6:15 UK Time, Alpari(US)...., Short/Loss........., -45.2, Stats since 02-01-2011: Total= +309.6
6:15 UK Time, FXDD.........., Short/Break Even..., +5.0, Stats since 02-01-2011: Total= +285.6



Notes:

All pip totals include slippage
FXSolutions is the only dealing desk broker
 
chrisandrews12 said:
Hi guys

Alpari UK, VPS CNS - TMT using default settings

today I hit sl -45,

Whilst I was in the trade I hit +29 pips but failed to notice that the BE had not moved to +5 at 25 pips. Prior to this happening I had changed time frames to see what the H1. H4 and daily were up to. It wasn't until later in the trade that I noticed that the SL had not been moved.

I have checked my logs and there is no mention anywhere of a request to reset the SL to BE +5.

My concern is that if I change Time frames whilst the trade is running will this affect the stability of the EA. Btw in the future I will open a new window to check other time frames.

My settings are all correct.

I have to say I was really pissed off at myself for not noticing that the SL had not moved when it hit 25 pips, but on the other hand is this not a set and forget system I have paid for....!

Any observations and advice will be greatly appreciated.

Many thanks,

Chris
Click to expand...

Very strange that Chris - my SL shoud have moved too but didn't, and I didn't touch the thing - didn't even look at it until later than that and I didn't notice that the SL should have moved. According to my figures I reached 26.9, so maybe it's the 2 pip spread which didn't quite activate it, though I thought that was taken at the beginning.

I keep a demo setup completely separate from Live, where I have loads more charts open, and mess about with TFs, lines, indis etc.
 
jimmc said:
Very strange that Chris - my SL shoud have moved too but didn't, and I didn't touch the thing - didn't even look at it until later than that and I didn't notice that the SL should have moved. According to my figures I reached 26.9, so maybe it's the 2 pip spread which didn't quite activate it, though I thought that was taken at the beginning.

I keep a demo setup completely separate from Live, where I have loads more charts open, and mess about with TFs, lines, indis etc.
Click to expand...



Funny you all mention that as I to had the same problem last night with two of my TMT EA's with two seprate brokers. My stop loss was not activiated and I got -45 smashed out of the ball park!!!

I have 4 EA's setup on one pc, three setup identical and one setup a bit diffrently but all FMT. One broke even one TP and the other two did not kick in the break even setting.

I put this down to possible internet performace issues but in my 8 monoths of trading with 4 EA windows open I have never encountered this before.

Has any one got any thoughts on this? can it be put down to poor internet performce maybe upload speed or some thing more sinister ?

Id like to display my journel log file for that time of the day but not sure if I'd be giving out any FMT settinigs ??
 
bearstar7 said:
Funny you all mention that as I to had the same problem last night with two of my TMT EA's with two seprate brokers. My stop loss was not activiated and I got -45 smashed out of the ball park!!!

I have 4 EA's setup on one pc, three setup identical and one setup a bit diffrently but all FMT. One broke even one TP and the other two did not kick in the break even setting.

I put this down to possible internet performace issues but in my 8 monoths of trading with 4 EA windows open I have never encountered this before.

Has any one got any thoughts on this? can it be put down to poor internet performce maybe upload speed or some thing more sinister ?

Id like to display my journel log file for that time of the day but not sure if I'd be giving out any FMT settinigs ??
Click to expand...

Just look at the post Red Geurrilla wrote this morning. He compares meticulously the performance of FMT with multiple brokers and recorded SL across the board yesterday. You will also notice from his Wednesday bulletin that PFG Best (MF's broker) was the only one that did not trade Tuesday and incur a loss. It was extremely borderline that anyone would have had the breakeven reset at 25 on Thursday. My own trade did achieve the 25 but it was after a manual entry which due to timing differences fortuitiously was at a higher opening price than what EAs seemed to get. I think it's important first to look at the spread as I think that's where the reason lies.
 
wiseambitions said:
Just look at the post Red Geurrilla wrote this morning. He compares meticulously the performance of FMT with multiple brokers and recorded SL across the board yesterday. You will also notice from his Wednesday bulletin that PFG Best (MF's broker) was the only one that did not trade Tuesday and incur a loss. It was extremely borderline that anyone would have had the breakeven reset at 25 on Thursday. My own trade did achieve the 25 but it was after a manual entry which due to timing differences fortuitiously was at a higher opening price than what EAs seemed to get. I think it's important first to look at the spread as I think that's where the reason lies.
Click to expand...

Interesting. Cool thanks for the info Wise. boo to slippage yay to beer!
 
On the chart, right click Properites > Common and check the box called "Show Ask line". Give the line an unusual color. You will notice it trails "above" the current price line in a Short situation.
I always thougth the spread was at the beginning (you always start out with negative profit), but I had the same question and was told about this line. If the brokers work with the Ask line, then it would always be a bit about the current price and S/L to B/E may not have reached the 25. Is that spread? I don't know. Maybe someone can explain.
 
TeeRex said:
On the chart, right click Properites > Common and check the box called "Show Ask line". Give the line an unusual color. You will notice it trails "above" the current price line in a Short situation.
I always thougth the spread was at the beginning (you always start out with negative profit), but I had the same question and was told about this line. If the brokers work with the Ask line, then it would always be a bit about the current price and S/L to B/E may not have reached the 25. Is that spread? I don't know. Maybe someone can explain.
Click to expand...

Hi, you always start in negative with the spread value.

When going short, you open the trade by selling at the Bid price, and close the trade by buying at the Ask Price.
When going long, you open the trade by buying at the Ask price, and close the trade by selling at the Bid price.

Hope this helps you.
 
I hate to say this, but I don't believe Marc Fric, Russ Horn, etc are real people. If you notice they are all with addresses over in Europe (how come none of them have US addresses). I assume there are successful Forex traders from the US. I have bought systems for many years (about 20 in all), just to get a glimpse of what they do and see if I can create something myself. Hector Trader is my favorite by the way because his works long term and also in the Stock Market, Commodities, etc (no I have no affiliation with him). My assumption is the names are made up, and one company is plugging away creating sales copy and web pages for various forex systems. Some work and some don't, but they make money on each one. By he way I am not saying they are not decent systems...I just think their motive is t make money on sellng systems and not on the Forex Market...I would never sell a system if I was doing really well at it. After all...is making $79...$89...$99 a system worth building a website, dealng with emails from clients, etc, if I am making great money trading Forex. Think about it...if you started making a good living trading Forex, and spent 10 minutes a day, would you give away the secret and start a new business selling it...or would you put that capital to use and buy more pips.
 
wiseambitions said:
Just look at the post Red Geurrilla wrote this morning. He compares meticulously the performance of FMT with multiple brokers and recorded SL across the board yesterday. You will also notice from his Wednesday bulletin that PFG Best (MF's broker) was the only one that did not trade Tuesday and incur a loss. It was extremely borderline that anyone would have had the breakeven reset at 25 on Thursday. My own trade did achieve the 25 but it was after a manual entry which due to timing differences fortuitiously was at a higher opening price than what EAs seemed to get. I think it's important first to look at the spread as I think that's where the reason lies.
Click to expand...

Agreed. In hindsight it was my Alpari (UK) demo account that moved to BE+5 on Thursday so I manually moved my live account (as the EA had not moved to BE+5). I can only guess that the greater granularity of the demo account somehow caused it to achieve the extra pip needed to hit +25 and therefore BE?
 
deserteagle said:
Hi, you always start in negative with the spread value.

When going short, you open the trade by selling at the Bid price, and close the trade by buying at the Ask Price.
When going long, you open the trade by buying at the Ask price, and close the trade by selling at the Bid price.

Hope this helps you.
Click to expand...

You have hit the nail on its head. (y)
 
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