ForexMorningTrade System

[motneen]

Hi there
Current recommended setting is 35TP 45SL 25BE 5ADD...your trade should trigger automatically on the first candle in the blue zone

Thanks Geoff, what does ADD mean?

 

[kgk]

Thanks Geoff, what does ADD mean?

Read the user manual that came with your purchase.... it's all explained there clearly

 

[andybissell]

Long

 

[oyunbo]

long on FX Solution @0615

 

[jonnymac]

Me Too long today not much happening as yet

 

[michaelsa]

Morning All,

Long FXDD EA Live.

M

 

[sapos]

Long on AVA.

 

[Jashfx]

I To help understand better what appears crystal for yourself, do you have this in a marked up chart? A picture for me helps me see much quicker what is being said.

Any help would be appreciated

pic for you

 

[Remraf]

Was looking good until it turned around, now looks more like a BE - if we're still in at 8am we might have a chance reversal.

 

[No1Trader]

pic for you

great, i can see the technique

great forum, really helps us newbies get a better understanding

many thanks

 

[jonnymac]

We have a result today +35 tp that will do nicely

 

[Remraf]

Was looking good until it turned around, now looks more like a BE - if we're still in at 8am we might have a chance reversal.

I think I'll get a lottery ticket! :whistling +35

 

[jimmc]

+35 on SLM.

Hey I don't want to get excited too early, but as well as a win, this is the first morning for weeks without a Connection error 6 on SLM. Got straight in at the open of the candle :clap:

Have they fixed it? Had a new build of MT4 at the weekend, but errors this week since then. Today perfect. Here's hoping.

 

[andybissell]

TP +38

FMT Account: £903 (-9.7%)


This was a true FMT win....no news to carry it. It's nice to see.

 

[theroguetrader]

frankfurt/london open


15 bid - limit 35 - (done for the day) .. !!

 

[wiseambitions]

I hope the table below makes some sense, it is pasted directly from my live analysis of various simple settings, showing the cumulative gain in pips going back for example 100 pips, 200 pips. Obviously shows up the sticky patches. Just as a guide, 100 trades takes us back to early December, 150 to early September and 200 to early June 2010. This data assumes trading every day at FMT start time, including Bank Holidays, if there was a signal, LCF and ADR filters ignored, 2.0 pip spread allowed.

Trades FMT3 FMT 2 FMT1 ten/40 twenty/40 28tp40sl

25 -75 -260 -280 -100 -220 -252
50 -70 -80 0 40 108
75 180 280 250 240 264
100 -55 0 350 -100 12
125 90 280 550 40 236
150 640 640 750 420 732
175 865 760 900 560 956
200 1450 1520 1150 940 1520
225 1515 1640 1200 960 1608
250 1690 1920 1250 1100 1832


sorry it doesnt seem to tabulate well when pasted. Perhaps in future I'll create an attachment
FMT3 results are only available for the last 25 trades otherwise read the numbers in the same order as the top line to match to the setting. Apologies

 

[RedGuerrilla]

I honestly think therein lies the problem for many. I do not believe that FMT should be traded on the same account as other systems you may be using to make those hard earned pips. FMT has good months and bad months and one will only get a feel for its return if its the only system traded on an account for and extended period of time.

Everyone has their own opinions but this is my advice to newbies and those trying to trade this in conjunction with other systems.

1) Do Not trade any other strategy with FMT on the same account
2) Decide on an amount you are prepared to lose with FMT
3) Open an account that is double what you are prepared to lose.
4) Trade 3-5% risk per trade.
5) 10 net losses or thereabouts (30% drawdown - 50% drawdown depending on your risk per trade) and call it quits.
6) Trade for 1 year at least before deciding whether it works or not. Ofcourse if NO.5 happens before then, then stop trading the system.
7) FMT cannot be judged on a daily or weekly basis. Its has to be judged over a period of time.
8) Follow the rules and trade it without emotion becasue the months that are good are really good and those that are not -- is not nearly as bad as months that are good (except for maybe December).

Since Starting with FMT
Sept 2010 + 12.7% return (trading at 2% risk)
Oct 2010 +10.75% return (trading at 2% risk)
Nov 2010 + 3.23% return (trading at 2% risk)
Dec 2010 + 1% return (trading at 2% risk until 17.12.2010)

Jan 2011 - 4.6 % return (trading at 3% risk per trade)
Feb 2011 +21.9% return (trading at 3 % risk)
Mar 2011 +19.9% retrun (trading at 3% risk)
Apr 2011 -6% return (trading at 3% risk)
May 2011 B/E (cause i traded day of long candle filter)

All trades taken with recommended settings and changed as FMT changed.
Broker used Alpari UK

Days I did not trade which may skew results for others were:
last 2 weeks of December (next year will include first week of Jan as well)
All Pulic Holidays (UK and USA)
April -- FMT was correct 90% of the time. The only problem was that over this period there just was not enough gas to take it to 35 pips. A pity cause it could of actually also been a very good month with about 7 or 8 trades going 30 but not 35 pips. 6:15 start time would have seen a +ve return with new FMT/Hammy settings

Be disciplined -- trade when there is a signal (except for days you choose as i have above), on an account only for FMT, with money you ARE PREPARED TO LOSE and come back in 1 year and then decide if it works or not.

For those of you who started trading this system after March, I do understand your frustration but Im sure there are many more good months to come.

Great post! Thanks.

 

[jabu99]

We have a result today +35 tp that will do nicely

Love it +35 too :clap:

 

[RedGuerrilla]

Stats for 06-08-2011



Live Accounts:

FMT 4.3, EA standard settings: 45 SL, 25 BE, +5 BE, 35 TP
6:15 UK Time, FXSolutions..., Short/Profit......, +36.0, Stats since 11-08-2010: Total= -71.0
6:15 UK Time, IBFX.........., Short/Profit......, +37.8, Stats since 01-04-2011: Total= +124.1
6:15 UK Time, PFG Best......, Short/Profit......, +34.8, Stats since 03-01-2011: Total= -39.6




Demo Accounts:

FMT 4.3, EA standard settings: 45 SL, 25 BE, +5 BE, 35 TP
6:15 UK Time, PFG Best......, Short/Profit......, +34.8, Stats since 02-01-2011: Total= +327.6
6:15 UK Time, FXCM.........., Short/Profit......, +35.1, Stats since 02-01-2011: Total= +347.1
6:15 UK Time, Alpari(US)...., Short/Profit......, +35.1, Stats since 02-01-2011: Total= +299.5
6:15 UK Time, FXDD.........., Short/Profit......, +35.2, Stats since 02-01-2011: Total= +275.6



Notes:

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



Comments:

I like automated trading because I don't have to watch the graph or the news.
I don't watch the trades so that my emotions won't interfere with the system.
But I still have to make sure it's a good system.
In robotic or manual trading, it's all about probability trading.
FMT is a good long term system. It's a simple system with a good track record.
You need to have patience. Set your risk and stick to it.
Pro traders are patient and don't let their emotions, good or bad, affect their trading.

 

[wiseambitions]

fftopic:

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Will it bleep when it's a good time to trade?

I don't think you belong in this forum.