FMT is a breakout strategy and this is what the 2 indicators are for.
Backtesting is useless for this strategy because we want what works NOW not what worked 6 months ago or later. My breakout time of 8:30 and 8:45 NY is now the best BO time, but a year ago it was not ! When FMT was first launched over a year ago, 6:30 London was the best BO time, but not now.
This is why I searched the GU, M15 chart to find the most consistant BO time that gives the FMT indicators the best chance to capture the right trade direction. Then I had to find the right TP and SL that would work most of the time. You need a high enough SL to give the trade room to go in the right direction and a TP that is not too high that it rarely gets hit. SL=35 and TP=30 seems to be best at the moment. The BE=18 is where most trades in the right direction get to before reversing so this is the safety net to save getting hit with a SL if the reverse continues against us.
If and when these settings start to fail badly, I will look for a better BO time, it does seem to change with the market every few months. So, don't waste your time with backtesting, you don't want what worked in the past , you want what works NOW !
hope this explains my settings and why I might have to change them again sometime ?
cheers !
