ForexMorningTrade System

I find when you use mm= True, As your account grows, you stand to gain more than TP=35 pips. you also stand to lose more than SL=45 pips based on your account balance, even with standard 2% risk because of compounding wich makes the trade riskier. I beleive BE is disabled. MM=false, the EA follows the standard settings parameters regardless of account balance. BE is also active.
 
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Does anyone happen to know the mathematical logic behind the Long Candle Filter? I wondered if it was a MF invention or a standard feature inside Metatrader?
 
Market could retrace anywhwere up to 1.6350 level. If that is breached then i fear this trade is in trouble.
 
doepi3 said:
Morning, I'm in SHORT, working very hard not to question the system...
Click to expand...

Well done, at least you should get BE now. Some people here are over analysing each trade for this simple set and forget system. They may save a few pips here and there but they will also lose some as well. Whatever version of FMT you are using, stick to the plan with proper MM. As long as FMT is just a part of your trading armoury you should be fine. FMT on it's own will not make you millions, unless of course you are the vendor. ;)
 
Tenapenny said:
Well done, at least you should get BE now. Some people here are over analysing each trade for this simple set and forget system. They may save a few pips here and there but they will also lose some as well. Whatever version of FMT you are using, stick to the plan with proper MM. As long as FMT is just a part of your trading armoury you should be fine. FMT on it's own will not make you millions, unless of course you are the vendor. ;)
Click to expand...

Thanks, yes on BE now...
 
As I take the trade manually with IG I was a bit late this morning and not quite with it! and clearly worked my BE out slightly wrong! - so am out of my SELL trade with BE hit - good luck for those still in.
 
I closed mine for 15 pips, it seemed that 1.63 was/is proving to be a sticking point. I hope I am wrong and it goes to full TP, as I shouldn't interfere with the system.
 
Stats for 06-09-2011



Live Accounts:

FMT 4.3, EA standard settings: 45 SL, 25 BE, +5 BE, 35 TP
6:15 UK Time, FXSolutions..., Long/Profit......, +35.0, Stats since 11-08-2010: Total= -36.0
6:15 UK Time, IBFX.........., Long/Profit......, +35.1, Stats since 01-04-2011: Total= +159.2
6:15 UK Time, PFG Best......, Long/Profit......, +35.5, Stats since 03-01-2011: Total= -4.1




Demo Accounts:

FMT 4.3, EA standard settings: 45 SL, 25 BE, +5 BE, 35 TP
6:15 UK Time, PFG Best......, Long/Profit......, +36.8, Stats since 02-01-2011: Total= +364.4
6:15 UK Time, FXCM.........., Long/Profit......, +34.9, Stats since 02-01-2011: Total= +382.0
6:15 UK Time, Alpari(US)...., Long/Profit......, +35.6, Stats since 02-01-2011: Total= +335.1
6:15 UK Time, FXDD.........., Long/Profit......, +35.4, Stats since 02-01-2011: Total= +311.0



Notes:

All pip totals include slippage
FXSolutions is the only dealing desk broker
 
Nice start to the weekend.
Standard FMT, +35
Scalp +10

Was very nervous (as were others) about the trade as we were in severely uncharted territory testing lows of mid May,

Anyway, set and forget rules worked just fine!

Great weekend to all,
D
 
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