ForexMorningTrade System

[suresh3101]

Hii guys..

i always enter fmt trades both in demo n live..
Demo got stopped out at breakeven..
in live account, i aim for only 30pips which is working out beautifully...
something is better than nothing..
30 x 3 = 90pips in live trade in three days consecutively!!
more than happy!!
Cheers!!

 

[GilR]

ha - no worries. Just wish it were on a lighter note, like after bagging 40 pips instead of watching 38 vanish before my eyes 😱

Winners are grinners:clap:, but sadly tomorrow it can turn weeping😢

 

[fluegel]

wow surprized to see that the price came back to the entry level so quickly in one candle!
Did you all see that it stopped and retraced exactly at today's R1?

I know that I should stick to the rule... but... checking pivot and S & R is not a bad idea, I think.
I closed my positions a little below R1 and got 30 pips. 🙂

 

[GilR]

Hii guys..

i always enter fmt trades both in demo n live..
Demo got stopped out at breakeven..
in live account, i aim for only 30pips which is working out beautifully...
something is better than nothing..
30 x 3 = 90pips in live trade in three days consecutively!!
more than happy!!
Cheers!!

From the live experience this month, I think when you get to 30/35 pips you need seriously consider what to do next.

Because when the rubber band breaks, it happens quickly.

It may not matter much trading minilots, but if you trade lots it is serious moolla:cheesy:

 

[Fabius]

Hii guys..

i always enter fmt trades both in demo n live..
Demo got stopped out at breakeven..
in live account, i aim for only 30pips which is working out beautifully...
something is better than nothing..
30 x 3 = 90pips in live trade in three days consecutively!!
more than happy!!
Cheers!!

Chi si contenta gode (= a contented mind is a perpetual feast).
Well done Suresh! 👍
Namasté

 

[bluedancer]

wow surprized to see that the price came back to the entry level so quickly in one candle!
Did you all see that it stopped and retraced exactly at today's R1?

I know that I should stick to the rule... but... checking pivot and S & R is not a bad idea, I think.
I closed my positions a little below R1 and got 30 pips. 🙂

I believe by adding manual you can improve your overall results, even though other days you will miss the full 40 pips.

 

[nitethinker]

Indeed doesn't feel good being 2pip away from from TP40 and ended up BE at 0.🙁 May be a good idea to place TP at a more probable level if there is resistance up there. But BE would save the emotional and mental torture like yesterday's trade.

 

[suresh3101]

Chi si contenta gode (= a contented mind is a perpetual feast).
Well done Suresh! 👍
Namasté

Thanx Mate!!

 

[Fabius]

wow surprized to see that the price came back to the entry level so quickly in one candle!
Did you all see that it stopped and retraced exactly at today's R1?

I know that I should stick to the rule... but... checking pivot and S & R is not a bad idea, I think.
I closed my positions a little below R1 and got 30 pips. 🙂

I have different pivot points: my daily was at 1.5805 and R1 was at 1.5892.
Maybe the ones I use start from a different midnight than yours...

 

[Fabius]

I believe by adding manual you can improve your overall results, even though other days you will miss the full 40 pips.

I agree.
I am practicing savate and my trainer always says: "It's better being hit once less from the opponent than hitting him once more".

The first commandment in trading is Do not lose, isn't it? :whistling

 

[ihelfman]

Hii guys..

i always enter fmt trades both in demo n live..
Demo got stopped out at breakeven..
in live account, i aim for only 30pips which is working out beautifully...
something is better than nothing..
30 x 3 = 90pips in live trade in three days consecutively!!
more than happy!!
Cheers!!

Wow. Have you back tested TP 30? What's your SL?

 

[bluedancer]

Wow. Have you back tested TP 30? What's your SL?

I just backtested, 40SL, 30TP and 24BE no TS:

2 years:

40sl/30tp/24be/0ts

2300 pips
73% winners

winners and losers are same as 40TP, but 40 TP ends up having 2680 pips in the same time period.

I think adjusting the stop works well on those trades that we see a clear target, or a clear reason to exit before BE is hit. Of course everytime you win, if you trade on %risk rather than set lots you will end up with more money since you can trade more lots next time...

 

[ihelfman]

Have you tried TP 37? Also, I'm wondering if the spread is a factor on 40. Does FMT factor in the spread when setting TPs? Do your back tests include the spread?

 

[fluegel]

Fabius
My pivot indi is set to start at GMT0. I've read somewhere that this setting is most accurate especially for London session. (Today's pivot is 1.5806 and S1 1.5874 for me. 😉)

Bluedancer
Thanks for the backtesting data. The result is quite interesting...
I'm sure TP30 did better these days, but not necessarily better in the long run.

 

[alps007]

my mt4 data only goes as far back as 2008. This is with FXPRO. Does anyone know any mt4 broker that will give you data that goes as far back as 2000.

Cheers

Alps

 

[mitchp]

got 38 pips out of this mornings trade with the EA. My settings is 40/40/26/0 but I take my trade at 05:00 instead of 05:30. So far the extra half hour has really helped this week. I might try reducing down to 30/30 to capture a higher percentage of wins, will run a few strategy test to see if it helps. I strongly recommend running tests every few weeks to fine tune the entry based upon the current market conditions.

 

[ihelfman]

got 38 pips out of this mornings trade with the EA. My settings is 40/40/26/0 but I take my trade at 05:00 instead of 05:30. So far the extra half hour has really helped this week. I might try reducing down to 30/30 to capture a higher percentage of wins, will run a few strategy test to see if it helps. I strongly recommend running tests every few weeks to fine tune the entry based upon the current market conditions.

Do you trade manually? Or do you change the settings? If you change the time settings, can you please tell me how?

I would really like to enter a bit early when there appears to be a trend, like today.

 

[hammy66]

My results today:

GbpUsd, buy triggered, hit TP=30 ..

GbpJpy, No Trade today....

glad I moved my settings to TP=30, SL=40, BE=20, TS=0

somedays I will lose the extra 10 pips by not using TP=40, but also I will get 30 pips when market doesn't quite reach 40 like today. I'm happy with this.

however, I'm surprised to see bluedancer's backtests show TP=40 still more pips in long run ?

cheers !

 

[speedport]

hii mate..

the new EA has the settings of :
TP = 40pips
SL = 40pips
breakeven = 24pips
trailing stop = 0

Does the new EA only has the new settings?

 

[Mario Loops]

There goes my BE stop loss - ouch

Hello mate i just got in catching up with all the usaual, what i did today is set profit 37p cos with spread is 40pts try that