ForexMorningTrade System

I'm staying in with this one. Possibly get out at BE or maybe -10 at worst, but want to see if it does mature.
 
Moved stop to +5 manually and stopped out now. Happy to manually intervene to secure some profit when indications are that it is not going well.
 
3 losses in a row although I was not in today due to 'site maintenence' - thank god. -76

FMT Account: £827 (-17.3%)

So I missed a profit the other week due to what I thought to be an overstretched indicator, now I've missed a loss so that evens things out and my account is about right....but still terrible in my eyes.
 
Cobber hi, you are not wrong in calling FMT a coin-toss system. But then every system and trade is a coin-toss.
The Stock Market and Forex is a market. If everyone was of the same opinion, then there would be no market. Someone has to have an opposing view to you to make a market.
FMT has its criteria where a decision is made as to whether a wining trade is probable. You by admission don’t trade FMT. Presumably, you do trade in some manner and I expect, some you win and some you lose. You enter a trade because you believe it is right as do I in other Forex situations. Someone is prepared to take the opposing view.
I would assume that you like me would review the trade made and if it does not pan out the way you expect it to do so, you would make a judgment call on it as to whether it is viable or whether to cut your losses. If it is going in your favour, you would stay in and move the SL to BE and better.
You are a senior member so must be making money. Good luck to you.
 
WhoDares said:
Cobber hi, you are not wrong in calling FMT a coin-toss system. But then every system and trade is a coin-toss.
The Stock Market and Forex is a market. If everyone was of the same opinion, then there would be no market. Someone has to have an opposing view to you to make a market.
FMT has its criteria where a decision is made as to whether a wining trade is probable. You by admission don’t trade FMT. Presumably, you do trade in some manner and I expect, some you win and some you lose. You enter a trade because you believe it is right as do I in other Forex situations. Someone is prepared to take the opposing view.
I would assume that you like me would review the trade made and if it does not pan out the way you expect it to do so, you would make a judgment call on it as to whether it is viable or whether to cut your losses. If it is going in your favour, you would stay in and move the SL to BE and better.
You are a senior member so must be making money. Good luck to you.
Click to expand...

WhoDares,

I have seen it all before. I just don't agree with altering an EA that is proven to work. At some stage it may well stop working but you need to determine when that is the case. eg by maximum drawdown % you are willing to lose. Remember, every system will go through drawdown at some stage, this doesnt mean it needs to be changed.

If you interfere with the trade you are not trading the system and cannot compere results with anyone else. It also implies you do not have any faith in the system....if this is the case then stop trading it.

Each and everyone to themselves but I can suggest you do not put all your money into 1 EA or system. If you spread it out you will not be so concerned as to change the system as you have other systems working for you also.

Cobber
 
Seems like another loss day, good thing i gave it a miss. Will sit out for a while to see if things pick up.

A request for wise... Is it possible that you can provide some stats for the 10/40 setting? i.e. the general results say over the last 10, 20, 60 trades?

Many thanks in advance.
 
meshgh said:
Seems like another loss day, good thing i gave it a miss. Will sit out for a while to see if things pick up.

A request for wise... Is it possible that you can provide some stats for the 10/40 setting? i.e. the general results say over the last 10, 20, 60 trades?

Many thanks in advance.
Click to expand...

It seems impossible to find out why the markets are so stupid and why the price turns against the indicators, but my plan is to keep going for the reason that it has behaved exactly like this many times in the past yet come out a winner in the longer term.

10/40 It's a crazy R/R/R but I can't make it work much better for reducing the SL.

Results of last trades
last 10, +50
25 -50
50 +100
75 +200
100 +300
125 +550
150 +750

It just seems to be a set which does reasonably ok almost out of the way the market breathes whether or not the signal was strong

But the R/R/R does make it dangerous unless you get a high % of winning days.
 
FMT for me this morning , new settings (45-35-18-0)

6:15 start, long signal hit BE, 0 pips
6:30 start, long signal hit BE, 0 pips

total today 0 pips

weekly total 0 pips.

I will only trade FMT with 2 start times until I see better results.

NOTICE that old settings would hit SL today..

good luck !..
 
hammy66 said:
FMT for me this morning , new settings (45-35-18-0)

6:15 start, long signal hit BE, 0 pips
6:30 start, long signal hit BE, 0 pips

total today 0 pips

weekly total 0 pips.

I will only trade FMT with 2 start times until I see better results.

NOTICE that old settings would hit SL today..

good luck !..
Click to expand...

Hams - is your new settings based on any recent backtesting that you performed?
 
wiseambitions said:
It seems impossible to find out why the markets are so stupid and why the price turns against the indicators, but my plan is to keep going for the reason that it has behaved exactly like this many times in the past yet come out a winner in the longer term.

10/40 It's a crazy R/R/R but I can't make it work much better for reducing the SL.

Results of last trades
last 10, +50
25 -50
50 +100
75 +200
100 +300
125 +550
150 +750

It just seems to be a set which does reasonably ok almost out of the way the market breathes whether or not the signal was strong

But the R/R/R does make it dangerous unless you get a high % of winning days.
Click to expand...

Thanks Wise. It does seem that this set is doing reasonably ok given the current conditions. I am contemplating whether to use this setting in the interim. I understand that the R/R/R is bad but It does seem on most days that the market does go along with the signal some of the way before retracing to hit our SL.
 
kgk said:
Hams - is your new settings based on any recent backtesting that you performed?
Click to expand...

I got BE=18 from past 2 months trends of "live" forward results, depending on your broker you may get a different result.

DO NOT use backtests to predict FMT, there are just too many variables that backtesting misses, so results are very unreliable, especially for FMT.

good luck !
 
6:15
no trade signal FXDD or Alpari. Very borderline. Perhaps I'm happy about that, knowing the wrath of Wicked Wednesdays in 2011
 
Stats for 06-21-2011



Live Accounts:

FMT 4.3, 6:15 UK Time, EA standard settings: 45 SL, 25 BE, +5 BE, 35 TP
http://www.myfxbook.com/members/RedGuerrilla/forex-morning-trade-redguerrilla-real/116521
http://www.myfxbook.com/members/RedGuerrilla/forex-morning-trade-eagle41-real/120723



Demo Accounts:

FMT 4.3, 6:15 UK Time, EA standard settings: 45 SL, 25 BE, +5 BE, 35 TP
PFG Best......, Long/Loss....., -46.3, Stats since 02-01-2011: Total= +231.2
FXCM.........., Long/Loss....., -46.1, Stats since 02-01-2011: Total= +200.6
Alpari(US)...., Long/Loss....., -45.1, Stats since 02-01-2011: Total= +204.7
FXDD.........., Long/Loss....., -45.1, Stats since 02-01-2011: Total= +211.0
MB Trading...., Long/Loss....., -45.2, Stats since 06-21-2011: Total= -45.2



Comments:

I’m switch to using myfxbook.com for my live accounts. No more errors or delays.
You can know what's happening anytime, and myfxbook can't be manipulated.
myfxbook has two verification processes to confirm MT4 accounts are authentic.

I pulled the plug on my third live account. Total loss -138.4 lots or $469.20
After March, I went from 1 mini to 2 mini lots. R.I.P March 1, 2011 - June 20, 2011
Transferred this live account to another EA I've been testing for the past two months.

I added a 5th Demo account, MB Trading.
 
Very conflicting signals both at 6-15 & 6-30 both with FMT and other inds.

No trades today on FMT.
 
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