RedGuerrilla
Active member
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Stats for 06-10-2011
Live Accounts:
FMT 4.3, EA standard settings: 45 SL, 25 BE, +5 BE, 35 TP
6:15 UK Time, FXSolutions..., Short/Break Even...., +5.0, Stats since 11-08-2010: Total= -31.0
6:15 UK Time, IBFX.........., Short/Profit........, +35.1, Stats since 01-04-2011: Total= +194.3
6:15 UK Time, PFG Best......, Short/Profit........, +38.6, Stats since 03-01-2011: Total= +34.5
Demo Accounts:
FMT 4.3, EA standard settings: 45 SL, 25 BE, +5 BE, 35 TP
6:15 UK Time, PFG Best......, Short/Profit........, +35.1, Stats since 02-01-2011: Total= +399.5
6:15 UK Time, FXCM.........., Short/Profit........, +34.8, Stats since 02-01-2011: Total= +416.8
6:15 UK Time, Alpari(US)...., Short/Profit........, +35.1, Stats since 02-01-2011: Total= +370.2
6:15 UK Time, FXDD.........., Short/Profit........, +35.1, Stats since 02-01-2011: Total= +346.1
Notes:
All pip totals include slippage
FXSolutions is the only dealing desk broker
Comments:
FXSolutions above, a dealing desk, stands out like a sore thumb.
Live Accounts:
FMT 4.3, EA standard settings: 45 SL, 25 BE, +5 BE, 35 TP
6:15 UK Time, FXSolutions..., Short/Break Even...., +5.0, Stats since 11-08-2010: Total= -31.0
6:15 UK Time, IBFX.........., Short/Profit........, +35.1, Stats since 01-04-2011: Total= +194.3
6:15 UK Time, PFG Best......, Short/Profit........, +38.6, Stats since 03-01-2011: Total= +34.5
Demo Accounts:
FMT 4.3, EA standard settings: 45 SL, 25 BE, +5 BE, 35 TP
6:15 UK Time, PFG Best......, Short/Profit........, +35.1, Stats since 02-01-2011: Total= +399.5
6:15 UK Time, FXCM.........., Short/Profit........, +34.8, Stats since 02-01-2011: Total= +416.8
6:15 UK Time, Alpari(US)...., Short/Profit........, +35.1, Stats since 02-01-2011: Total= +370.2
6:15 UK Time, FXDD.........., Short/Profit........, +35.1, Stats since 02-01-2011: Total= +346.1
Notes:
All pip totals include slippage
FXSolutions is the only dealing desk broker
Comments:
FXSolutions above, a dealing desk, stands out like a sore thumb.
Why trade the system if you are not going to trade the system?
Becasue I have just started looking at this system and need to build up the trust. If I chose to bail out, that is my loss if it goes on to win. Today there are a lot of markets on Bank holidays.
Demo at the moment. 1 bad week, 1 good week so far.
Demo at the moment. 1 bad week, 1 good week so far.
andybissell
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It's a good point but what are we supposed to do if the indicators turn? Surely that's time to get out, no?
I don't do it myself but I wonder what % of trades win after the indicators turn the other way.... I wonder what MF's thoughts are on this.
SL -38
FMT Account : £865 (-13.5%)
Slurpeeforex
Member
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- 0
Fast FMT: -10
FMT: -40
EFMT: -38
Total: Fast FMT -90, FMT -40, EFMT -31
Back to negative numbers...
FMT: -40
EFMT: -38
Total: Fast FMT -90, FMT -40, EFMT -31
Back to negative numbers...
If you want to trade the system then trade the system as it is designed.
If you do not want to trade the system don't trade the system, take your money away and trade something else.
I cannot emphasis this enough.
Your problem is you are looking short term, dont take it trade by trade, look at monthly results.
Remember if you pull out early due to an indicator change it can just as easily turn into a profit, not necessarily a loss.
Hi Andy. Are you trading with 38Sl/38TP setting? I feel more comfortable where potential risk is not greater than potential reward so I have been trying 38/38 as my setting for the past couple of weeks. Just wondering what your experience of this setting has been and also do you have a b/e setting? Cheers
FMT is a tool. You should use the tool but also be able to exercise your own judgement. There is no magic secret in forex. If there was, would it be sold? FMT has a good reputation which I why after reseach, I purchased a copy. That does not force me to use it. I am trialing it but as I have been involved in forex for a while I do have my own ideas about how a market is acting and if I think it is not in my best inerest to stay in, that is for me to act on.
If FMT does prove to me that is is good then I may set and forget but I think I was right today.
If FMT does prove to me that is is good then I may set and forget but I think I was right today.
Why did you buy it for then? Im not trying to be a prick here just trying to make a point.
Here you go lumbco
Poll: How are you trading FMT ?
Live Account
Demo Account
Both
Just an observer
Resultaten:
[sup]Als create a poll? Click here[/sup]
Thanks for setting up the poll.
Not many responses yet, but an amazing proportion of live accounts so far.
As I stated before, it is a tool. I do other forex things during the day when I am not working. This item, which has a good reputation, operates outside my other activities so does not clash. If it is going to provide an income then fine. That is why I bought it. It states on the tin it works, so I bought it. You obviously feel it is good, fine. I am looking at it. It's a trial. I won't be asking for my money back if I decide not to use it.
That is why today for other reasons, I was able to whatch what was happening and decided that today was not a good day.
Other days, I would let it run on it's own. I am not knocking the product. Today did not look like it was the right day for the peoduct so I got out for a samll loss.
That is why today for other reasons, I was able to whatch what was happening and decided that today was not a good day.
Other days, I would let it run on it's own. I am not knocking the product. Today did not look like it was the right day for the peoduct so I got out for a samll loss.
Actually I haven't traded FMT for a couple of weeks as have moved my money elsewhere (not because of the recent average results i might add). That doesn't mean I don't think the system will not make you money at some stage, I just prefer a system that makes more intuitive sense rather than a coin toss.
You can choose to listen or not. I dont really care. Ive already explained why i am not using this product.
Your problem is you are using the product but u aint.
andybissell
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No, it won't necessarily 'just as easily turn into a profit' as the indicators would be implying the trade is heading for a loss. I was wondering about stats once the indicators have crossed the line. Lets say FMT had 70% winners, 30% losers (ignore BE for now)....of those winners, I would predict that for most of them the indicators stayed the correct side of the line for the whole trade. It would therefore be beneficial to exit trades when the indicators switch as the signal is no longer there! It's definitely worth some research as I have no stats to back up the theory but it makes sense if you think it through.
andybissell
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Yes I am using that setting...only because I got blocked from my broker's website at work and couldn't amend the trade if it went past 8am (I trade manually). It definitely makes sense when you link it to my previous comment to have a R:R >= 1. My experience with this setting is that I missed 1 day where it would have been a winner with the current official settings but I lost and I've took profit at 3 pips more and hit SL at 7 pips fewer than standard settings a few times...would need to check my spreadsheet to know exactly how many...so I would probably have a slightly bigger balance atm if I had kept to the standard settings but I believe this will turn in the long run (despite backtesting results - which have little validity IMO) and standard isn't an option for me anymore anyway.
Hope this helps
