short at 1.5848 ? when was this trade placed?
Tk, or anyone else for that matter, care to comment on this possibility?
USDCHF
TradingHour=15
TradingMinute=45
StopLossPips=75
ProfitTargetPips=50
BreakEvenAtPipProfit=10
TrailingStopPips=50
The backtest was run on FXDD, 1/1/10 through 11/23/10. Profit factor 2.13, maximal drawdown 4.43%, relative drawdown 5.34%.
I was going through a few other pairs, because I know some folks are also trading the EURUSD, and I was curious if other pairs might have certain times of the day for breakouts. The USDCHF is the only other one I found in my quick survey (not to say there aren't other possibilities) that painted a decent equity graph.
Has anyone else looked at trading other pairs using FMT?
I'm going to assume you started with $500, so a gain of around $531 or 531 pips.
Not to brag but I did the same test with Extended starting from $500, Jan, 10 through today.
Ending balance $2296 or $1796 or 1796 pips
bluedancer
Well-known member
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that is not possible, price is not near that :|
Extended not out yet. Has a good hour and a half or so left. Fingers crossed as I go to bed.
It's FXpro.
I did mention that the FMT Extended ea made that short automatically for me. I'll look what's going on with the ea.
markfric
Member
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You can now go directly to my site to get more info about FMT Extended.
Hello Travis (tkbieber),
I think you crossed the line with this. I have nothing against talking about the new ideas, or even selling them, but on your site you stole my design and even the texts from my website and manual.
And I got the information from somebody who bought your EA that you didn't even write it by yourself, but decompiled mine and made your changes.
If this is not cheating, then I don't know what is.
I ordered your EA to check it out, I'm really curious if I'll also receive it.
The only think that your EA does is that it sometimes trades half an hour sooner, it has smaller PT and bigger SL, thus the risk reward ratio is worse.
If we'd trade FMT with PT=31 and SL=44, we'd get better results than standard settings this month.
BUT, this is only short term result. For every week you'll find settings that would work best for that particular week.
My long term testing shows these settings perform worse in the long term than the ones I recommend and trade.
Mark
RedGuerrilla
Active member
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FMT 4.1 had No Trade
0 pips
Total: +55 pips since 11-07-2010
Stats: 4 BE, 3 No Trades, 4 Gainers, 2 Losers
0 pips
Total: +55 pips since 11-07-2010
Stats: 4 BE, 3 No Trades, 4 Gainers, 2 Losers
Right on Mark!!!
Mark,
i think, that you deserve all credit for developing this particular method and people should feel priveledged to own a legal copy of FMT.
This even more so, because like other selfclaimed developers, you not only present a profitable method, you give on top your own results and settings, which have not even been different than yours on any account with your chosen broker.
It was only a matter of time, when FMT would be copied by somebody else.
As sad as this is, i am a firm believer, that eventually any modification of the original FMT will fail and people will regret any purchases of modified versions, even more so, because anybody who owns FMT can trade at different times and pairs to their likings.
Your customers should know, that if you were to find a better time and setting, you would certainly publish them.
Copying FMT to make money off Marc is in my personal book not only unfair, it is unlawful and people should not support such manners.
I hope that you will continue to update your customers as in the past and take proper action against pirates.
MHK
JustinSydney
Member
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What is breakout genius? Is this another EA? I'm trying to get mark to include this in the next release of FMT? Just need more people to agree on it.
wiseambitions
Established member
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I think we are lucky that Mark is such an honest and open manager and developer of his own site. Also that he has marketed it with explanation of the indicators and filters, not as a black box system such as a lot of other strategies comprise where you're left in the dark as to what the signals are made up from. We may all agree it's not the only early morning breakout strategy on sale, it wasn't the first one, and won't be the last, but at least we're not aware of other people saying Mark has plagiarised theirs. I hope members of the system will appreciate the way he has shared FMT and promoted it in a fair way and will not seek to profit other than growing their own forex accounts.
Indeed I think it is exceedingly good value at the price and if it carries on giving good medium term performance he should reconsider the price tag. I understand a comparable system called Net Trap is sold for about 4 times the $97 of FMT (i.e. about £250 sterling).
JustinSydney
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Sorry Mark. Only just caught up to the current conversation and didn't realize you were on. I feel a little arkward talking about possible updates given the current conversation.
