ForexMorningTrade System

traderman1 said:
This thread is now 12 months old. :clap:
I have started reading this thread from the very first post (the one above) and read up to page 120 before moving to the last 50 pages.

Can someone point me in the direction of a Myfxbook page or a MT$ stats page that shows the performance of the FMT EA over the last 12 months.
From what I have read it looks as though it was promising from Aug 2010 to March 2011, but it went to sewerage from March 2011 to now.

Anyone care to comment ? Is it still worth buying the EA ?
Click to expand...

I used to use this EA. I traded it with recommended settings for a year and came out break even. I mentioned my results on here and I was met with a lot of animosity. People saying things along the lines of - "You have to make the system your own and adjust the settings according to market conditions" etc. Well surely that's not the idea of buying an out of the box EA with recommended settings. Having looked at numerous myfxbook pages tracking the EA, I am lucky I came out break even. Most have a steady downward line. Such as this one on Birt's EA review site:

http://eareview.net/forward-tests

Look down the list and you will see it. There have also been a few others linked on this forum which show the EA eating away at peoples accounts.

At best this EA is 50/50 so my advice to you is - try creating your own EA. Just think of an idea and pay someone $30 on a freelancing website to code it up. Even if you start with a coin toss you have matched this system already and then work on improving it.

Good luck, let me know how you get on.

Sam.
 
megamuel said:
I used to use this EA. I traded it with recommended settings for a year and came out break even. I mentioned my results on here and I was met with a lot of animosity. People saying things along the lines of - "You have to make the system your own and adjust the settings according to market conditions" etc. Well surely that's not the idea of buying an out of the box EA with recommended settings. Having looked at numerous myfxbook pages tracking the EA, I am lucky I came out break even. Most have a steady downward line. Such as this one on Birt's EA review site:

http://eareview.net/forward-tests

Look down the list and you will see it. There have also been a few others linked on this forum which show the EA eating away at peoples accounts.

At best this EA is 50/50 so my advice to you is - try creating your own EA. Just think of an idea and pay someone $30 on a freelancing website to code it up. Even if you start with a coin toss you have matched this system already and then work on improving it.

Good luck, let me know how you get on.

Sam.
Click to expand...

That's exactly what I did and turned it into a 100% winning system in 14 months averaging over 50% a month. Out-of-the-box settings sucked. ;)
 
I don't know how you can say FMT is a 50/50 EA ?..
In only one year it has netted me $1,383 USD and that is trading only 0.1 lots or less !
However, you must be responsible and not trade in December and August or you will pi$$ away your profits, this is common sense IMO. Yes, I did tweak the settings from time to time and trade other starting times BUT the EA is a winner ! Even if you check Mark Fric's journal with default settings he is ahead even while trading all year, August and December. If you are only getting 50/50 from FMT, get another hobby !!

cheers !
 
hammy66 said:
I don't know how you can say FMT is a 50/50 EA ?..
In only one year it has netted me $1,383 USD and that is trading only 0.1 lots or less !
However, you must be responsible and not trade in December and August or you will pi$$ away your profits, this is common sense IMO. Yes, I did tweak the settings from time to time and trade other starting times BUT the EA is a winner ! Even if you check Mark Fric's journal with default settings he is ahead even while trading all year, August and December. If you are only getting 50/50 from FMT, get another hobby !!

cheers !
Click to expand...
Well said Hammy(y) I have lost money, but that was when I deviated from the recommended settings and tried other "in the know" people, with some sort of fancy ideas about this particular system..One thing I really like is what very few trading systems do, is document their outcomes for all to see from day to day..You also see a graph that clearly shows the direction of each month..You can dispute and argue about the outcomes, but the bottom line, how many systems show their results for all to see. I feel very fortunate to be able to contribute to this forum as well as read other people's points of view.:)
 
Perfect September continues.... TP +38

FMT Account: £1008 (+0.8%)

Realised early on it was a US bank holiday today and almost pulled out for BE, then realised US bank hol shouldn't affect the trade since 9 times out of 10 we are out of the trade by the time US opens anyway!

I'm curious as to how many others took the trade and who avoided it??
Also note that the August UK Bank hol was also a winner, but I missed that one.
 
Bravo for your trade. But I chickened out, even though my favorite non-FMT indicator signaled a sell.

andybissell said:
Perfect September continues.... TP +38

FMT Account: £1008 (+0.8%)

Realised early on it was a US bank holiday today and almost pulled out for BE, then realised US bank hol shouldn't affect the trade since 9 times out of 10 we are out of the trade by the time US opens anyway!

I'm curious as to how many others took the trade and who avoided it??
Also note that the August UK Bank hol was also a winner, but I missed that one.
Click to expand...
 
FMT today, (45-30-18-0)

6:15 London, sell trade hit TP +30 pips
8:45 NY, sell trade hit TP +30 pips

total today +60 pips
 
I have a Short on Alpari UK but one of the indicators is extremely marginal in my opinion? Who else has a Short indication?
 
short at 06:15 uk time, but at 06.30 the candle started with one indicator wrong side of the line. To have entered short (if that happens to be the right call) would have given a better start point at 06:30!!

I have no idea where this is taking us
 
FMT for me today, (45-30-18-0)

6:15 London, No Trade, 0 pips
8:45 NY, sell trade hit BE, 0 pips

total today 0 pips
 
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