Though I haven't done the calculations, my guess is that the added pips setting makes a difference on capital return. So far, I've never managed to beat the default settings on automated trades. But I'd like to test different added pips settings. Be nice to be able to wipe out the SL setting's extra five pips over TP with the optimal amount of added BE pips.
chrisheath
Member
- Messages
- 96
- Likes
- 0
Don't feel too optimistic about this. In my backtests (and Marks analysis) I have yet to see added pips actually add value. My belief is that when you've optimised ST and PT, you will detract from the performance with added pips. I would love for someone to prove me wrong.
In my book, optimising ST and then TP, and then optimisimg BE is the way to go. A quick tip here. If you have some 'optimised' target points, eg 7,10,17,28,35 , they also can work as good BE points. (I know 10 TP was a nightmare back in 2007 or so - but see my earlier post on the 'volumes' .)
Regards, Chris
Although I've kept up with this thread over time, I can't remember reading how to successfully place two instances of FMT. I'd like to try two trades with different trade amounts and SL/TP parameters. Can it be done on one platform or do you have to have two different brokers? Duh! Thanks! By the way, is this a great system and blog or what?
Nod
Nod
Jashfx
Active member
- Messages
- 231
- Likes
- 4
If you trading manually then you can just place two different orders with same broker on same downloaded platform.
If you using EA you have 2 options: (But I do stand to be corrected)
1) 2 different brokers
2) Use 2 different charts and on each chart attach the EA and then set the parameters to how you want.
wiseambitions
Established member
- Messages
- 764
- Likes
- 7
Mark states in the EA manual that there is no real advantage to added pips.
I think there are two developments which might be better than resetting to BE
1) Closing some of the trade at say +10 and letting others run up to TP
2) Considering a SL reset to a negative number (eg -5 or -10) instead of either 0 or a few added pips. This may give the market room to breathe, because you might be surprised how many trades get knocked out at Break Even before going to eventual profit. I believe this might have been the case on Tuesday.
Hey Hammy
Your note intrigues me - So you started your FMTs at 6am, opened 3 positions with a 30 pip target? Is that right?
Thanks Ezmai
Yes, my settings have already been posted.
6:30 and 6:15 start times with SL=50, TP=30, BE=15
6:00 and 6:45 start times with SL=60, TP=30, BE=15 (half lots)
cheers !..
Yes, my settings have already been posted.
6:30 and 6:15 start times with SL=50, TP=30, BE=15
6:00 and 6:45 start times with SL=60, TP=30, BE=15 (half lots)
cheers !..
Thank you
Jashfix:
I should have noted that I do use the EA (I like to get a good night's sleep on the East Coast of the U.S). So, I was wondering about two placements by the EA. Thanks for your response. I don't want to add a broker, so I'll try to come up with something for the single platform, like changing the time frame on two charts(?). If what I'm trying to do with one broker is impossible, please someone tell me I'm wasting my time. :^)
rrobichaux
Newbie
- Messages
- 7
- Likes
- 0
You can copy your Mt4 platform. Name them seperately (ex Alpari Live 1) (Alpari Live 2). Then apply FMT to each and set up on each one seperately with a different magic number.
Open both platforms and run them simultaneously. They will both trade.
Or use 1 (one) Mt4 platform.
Open two charts of the same running FMT on each of the charts with seperate magic numbers. You must keep the charts open while trades are active.
I personally use a VPS and have as many as 8 or 10 Mt4 platforms running simultaneously where I do not have to worry about electrical outages, etc. I have some Demo and some Live accounts running all the time.
Hope this helps.
Bobby
Hi Wiseambitions
Always enjoy your analysis...following the same theories above have you ever looked into TP 7 and SL 20...according to my rough calculations there has been around 15 winners in a row...but I know there were a couple of losses in one week some time back
Geoff
Just had a quick look at my records and it looks like for the last 12 weeks...39 wins...6 losses...13 no trades...would like to see a longer backtest to see how these parameters do in the long term
Last edited:
Hi
That is unusual. I have had two exchanges with Mark, within the past two weeks; each time he has responded within 24 hours. My experience is that this is always the case. He simply always replies on time, in full and courteously.
Have you given your emails a clear subject, identifying FMT or TMT etc? Not to mention, perhaps, a typo in the email address?
Hi Geoff,
20/7 is a strategy I have looked at and traded. According to my figures, it has not had a losing month since my figures started (Aug 10), and this includes trading over the Christmas holiday season.
From 01 Aug 10 until 31 Jan 11 performance was as follows (again according my figures which allow for a spread of 2.5 pips.)
Total Pips: +337
Av Winning Trades: 86.5%
Performance of the strategey this month has not been quite as good, with 3 losing trades so far, however, its still in profit.
A point to note is although the pip total seems small (337) given that the stop loss is half that of regular FMT, you can put double the lot size for the same risk, so its equivilent to winning 674 pips at the regular settings.
Currently I don't trade 20/7 anymore, I have swithced over to 40/10 for my own reasons, however I am a big fan of taking a small profit for a number of reasons:
-High %age of winnig trades makes me most days!
-Consistent monthly gains.
-Low drawdown and risk.
Further, quite often the trade will come in regardless of whether the indicator is "correct" or not, because the general market noise at opening time triggers the TP before the stop.
I guess the disadvantage of this type of strategy is you will never get the fantastic high gains that you can get with the standard settings in a good month, but then you also miss out on the not so fantastic negative months as well....
Hope this is of interest.
Philip.
20/7 is a strategy I have looked at and traded. According to my figures, it has not had a losing month since my figures started (Aug 10), and this includes trading over the Christmas holiday season.
From 01 Aug 10 until 31 Jan 11 performance was as follows (again according my figures which allow for a spread of 2.5 pips.)
Total Pips: +337
Av Winning Trades: 86.5%
Performance of the strategey this month has not been quite as good, with 3 losing trades so far, however, its still in profit.
A point to note is although the pip total seems small (337) given that the stop loss is half that of regular FMT, you can put double the lot size for the same risk, so its equivilent to winning 674 pips at the regular settings.
Currently I don't trade 20/7 anymore, I have swithced over to 40/10 for my own reasons, however I am a big fan of taking a small profit for a number of reasons:
-High %age of winnig trades makes me
most days!-Consistent monthly gains.
-Low drawdown and risk.
Further, quite often the trade will come in regardless of whether the indicator is "correct" or not, because the general market noise at opening time triggers the TP before the stop.
I guess the disadvantage of this type of strategy is you will never get the fantastic high gains that you can get with the standard settings in a good month, but then you also miss out on the not so fantastic negative months as well....
Hope this is of interest.
Philip.
Lady Forex
Active member
- Messages
- 131
- Likes
- 0
I think consistent wins and gains is more important than the number of pips. One can always adjust their leverage to make a great income even if they have to do it by compounding.
wiseambitions
Established member
- Messages
- 764
- Likes
- 7
Oh look how it retraced 20pips, 3 mins after we opened!
Lady Forex
Active member
- Messages
- 131
- Likes
- 0
Good Morning!
