ForexMorningTrade System

Short SL -38

FMT Account: £865 (-13.5%)

BAD Week: LLLWL.


Does anybody have a solid reason for August being a 'bad month'? I don't believe holidays are the case, so anything besides this. Thanks

Yes it's been a really bad week

I don't know whether anyone in a trade with 45SL would not have been knocked out today?

As to previous Augusts:

Using 40tp 40sl

2007 + 40
2008 +160
2009 +200
2010 +41

There's nothing worse than average about those results!
 
Yes it's been a really bad week

I don't know whether anyone in a trade with 45SL would not have been knocked out today?

As to previous Augusts:

Using 40tp 40sl

2007 + 40
2008 +160
2009 +200
2010 +41

There's nothing worse than average about those results!

All I can say is take a look at the market since mid July, does it look normal to you ?
The writing was on the wall last August, not to risk trading.
It's going to be a lot worse this August, believe me !!
There is alot more sh*t going on than just vacations by the big banks, but if you want to throw your money away , go ahead and trade...:whistling

good luck !..:rolleyes:
 
August 5th
bad bad week...:(

Fast FMT: +10

FMT: -33

EFMT: -33 (on both FMT and EFMT I lowered the risk after spike up and move down...)

Total: -67, -171, -174
 
I had read on the Megadroid thread in ForexPeaceArmy's website sometime ago that August is traditionally a bad month to trade because there is low liquidity. Everyone is on vacation.
 
Stats up to 08-05-2011



Live Accounts:

FMT 4.3, 6:15 UK Time, EA standard settings: 45 SL, 25 BE, +5 BE, 35 TP
FXSolutions..., Stats since 11-08-2010:
http://www.myfxbook.com/members/RedGuerrilla/forex-morning-trade-redguerrilla-real/116521
IBFX.........., Stats since 01-04-2011:
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......, Stats since 02-01-2011
FXCM.........., Stats since 07-12-2011
Alpari(US)...., Stats since 02-01-2011
FXDD.........., Stats since 07-12-2011
MB Trading...., Stats since 06-21-2011



Comments:

I will continue to trade all days for the demo accounts but not for the live accounts.

No live trading for live accounts on:
Aug 29 - GBP Bank Holiday
 

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I had read on the Megadroid thread in ForexPeaceArmy's website sometime ago that August is traditionally a bad month to trade because there is low liquidity. Everyone is on vacation.

I'm pretty sure you won't have to worry about that for the rest of this August! ;)
 
I decided to give it a miss today. Also, congrats to those that dared entered long and got a nice TP.
 
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