ForexMorningTrade System

JRJ said:
This is the psychological aspect of trading they talk so much about. I started in January using a different system which started great and with so much confidence i mucked about and managed to just stay with my original bank rather than gaining! I pulled myself together and stopped all that and then it hit a bad patch and i lost all my confidence and tried to intervene to stop the losses - i managed to stop the gains as well.. so read a lot, made another big mistake and decided to stop for a month (August). Started again in September with strict instructions to stay with my decided system.. well i almost manage it.
My belief is that you will win some by using the EA and lose some by using the EA. I trade manually and am frustrated by the trades i would had won if i had the time and confidence to set up the EA. Today having the EA brought a loss. I havent been able to trade due to a bad back and not being able to get out of bed in time (UK resident). So i missed out on a loss yesterday and the win i would have had by manually trading today. It's swings and roundabouts but you do have to stick in there. Look at the record and work out how many no trade and losses that must include.
I am still down from my original bank but slowly creeping back up.. three steps forward and two back.

This is the talking to I give myself most days!!!!
Click to expand...

Hi JRJ,you are not alone we must all go threw that procees otherwise you will not learn and respect the market,i have been trading live for 3yrs now,i made alot of money thankfully when i first started that i had a nice big bank,then for no reason i would change things cos i suffered a few losses and was not willing to accept and gave alot back(but im still up)so the best advice i can give you is money management,its the only way to success and beat fear and greed,good luck with your journey
 
JOHNCO said:
Ok, I set the TP to 30 on both EA's. one closed out automatically at TP. The other continued the trade to +60 pips. I closed that one manually. Don't get me wrong I love the 60 pip profit. But why didn' it close the trade automatically?
Click to expand...

Hi Johnco,

of course you would check your settings, and then make sure you don't turn off EA's by mistake, but I also found a slight problem with overloading my charts with stuff. If you have your FMT indicator on the chart, not the EA, but the indicator, it puts many objects onto the chart and for me causes MT4 instability and slow reaction to modifications by the EA, or missing execution points such as your TP. I found it is not a problem if I have the FMT Indicator on just one GBP/USD chart, but when I placed it on a number of charts I started having problems. You don't need the indicator for the EA to work, though it gives a nice visual of trading time and tells you Ideal entry, sl and tp.

maybe this will help?

~Blue
 
JOHNCO said:
Ok, I set the TP to 30 on both EA's. one closed out automatically at TP. The other continued the trade to +60 pips. I closed that one manually. Don't get me wrong I love the 60 pip profit. But why didn' it close the trade automatically?
Click to expand...

Also if you put the EA on 2 charts in one account be sure to use different magic numbers.
 
supertrader05 said:
Hello All,

I got FMT early this week and have been using a manual entry. I'm using a spreadbetting company and so do not have MT4...so I'm using the charts from dailyfx.com, which I find are pretty good. The momentum indictaor moves about around 0, instead of 100.

Yesterday, 6th Oct is down as a long trade in Mark Fric's journal, but I had CCI= 52, MOM = -0.0008 (probably equivalent to 99.9992), so MOM would have been below 100, which would have been a no trade.

Was it a close call yesterday for people using MT4? Nearly a no trade, because the MOM indicator at the beginning of the 06:30 candle was below 100?



Thanks in advance

Francis
Click to expand...


Hi - I've been using FMT for 5 days now - why don't you open a demo account online - (nothing more than your name address etc needed) with Alpari UK? - it takes 5 mins to do and you you can immediately download MT4 and install the EA.

The demo account lasts forever as long as you place at least one (demo)trade every 30 days.

I watch for the generated signal and then place my trade on my FXCM Micro account.

All the best with your trading

David
 
Last edited:
Seems like no trade today..
was a nice week with no loss..
As blue dancer says abt me ,i always prefer 30pips take profit and 40 pips stoploss..
hit 30pips profit for the past 4 days..
so this week my profit is 120pips..
Happy Trading!!
Cheers!!
Have a nice weekend!!
 
I had a weird thing happen today. Alpari took the EA auto trade one full minute before FXDD. They are on 2 different computers, but the time should be the same ?? maybe a misquote and then the EA requested the trade again? odd since it was dead at the time of the trade...
 
bluedancer said:
I had a weird thing happen today. Alpari took the EA auto trade one full minute before FXDD. They are on 2 different computers, but the time should be the same ?? maybe a misquote and then the EA requested the trade again? odd since it was dead at the time of the trade...
Click to expand...

Hi Blue
Kick it
 
Mario, my FXCM did the same thing, but odds are on the short side if that's the case.

Blue, my FXDD also the same, but even though slow to catch the action it finally entered at a much better price than the rest.
 
joyrider said:
Mario, my FXCM did the same thing, but odds are on the short side if that's the case.

Blue, my FXDD also the same, but even though slow to catch the action it finally entered at a much better price than the rest.
Click to expand...

yeah I got 3 prices: 74, 75 and 76 LOL, well as long as it means cash then LOL
 
Entered at 82.5, but closed position early, with only 6 pips profit, because of an Alpari MT4 Pro problem. Trying out this new platform, supposedly with lower spreads, but encountered problems that would take up too much space to explain.
 
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