ForexMorningTrade System

lotterbe said:
Money Manager “ManageTPv2-4”

These are my settings for running default FMT plus a simple trailing stop that moves the stop to -20 at +20.

I use a 5-digit broker, so all my settings have an extra zero – eg instead of 20 pips I have to enter 200.

First target = 5000 (First target for partial profit. Not using, so set to random large number, eg 500 pips, to ensure it doesn’t trigger)
Target Increment = 5000 (Takes lots off every number of pips set here. Not using, so set to random large number)
Close Lots = 0 (Number of lots to close at each target increment. Not using, so set to 0)
Move Stops = true (Use trailing stop, true or false – set to true)
First Stop Target = 200 (Trailing stop 1, move stop up at 20 pips profit)
First Stop = -200 (Trailing stop 1, move stop to -20 pips)
Second Stop Target = 0 (Trailing stop 2, not using so set to zero - or to lock in profit, set to 350 for 35 pips, for example)
Second Stop = 0 (Trailing stop 2, not using so set to zero - or can set to 200 to move stop to 20 pips at 35 pips profit)
Use Max Loss = False (Activates hard stop – not using as FMT has its own stop)
Max Loss = 0 (Number of pips for hard stop, not using)
Magic Number = 12345 (Use same magic number as you are using in the FMT EA)

Test this first on a demo to make sure it’s working properly for you. Depending on your broker you may need to use 20 instead of 200, etc.
The only glitch I’ve found with this software is that it doesn’t like being altered once it’s running. This can cause it to close the trade immediately. So make sure you have the settings exactly as you want them, and have tested it first on a demo, before turning it on.

Good luck!
Click to expand...


Lotterbe, Hey mate. Just regarding the magic number. I am currently running FMT on both GBPUSD and EURUSD. Would I have to change the magic number on FMT in EURUSD so as it is not linked to the management software or are the two only linked by the specific chart they are on. I am happy using hard stops with EURUSD pair but would like to try the management software on GBPUSD.
 
bluedancer said:
Trader at Home,

The EUR JPY is not a logical pair to trade at this time of day with this system. Usually with this pair it reacts after the JPY is affected or after the EUR is affected.

anyways for entertainment sake I ran a test:

2 years, SL 40p, TP 35p
It only showed 14 trades, drawdown 2410
net loss -422
Click to expand...

Oops I did not download history first. here is corrected test:

eur/jpy
2 yrs SL 40p, TP 35p
260 trades
wins 137 (49.64%)
losses 121 (46.54%)
drawdown - 4975
net profit - $293

so still not worth trading. drawdown is too high.
 
Hi Mario,

We're in a buy, though it looks like some possible retracement before it climbs again...

It's evening here in Vancouver though!
 
Goodmorning to all and goodevening to the other part of the world :).
I am long at 1.5418 but the price didn't move after nearly 15 minutes... :-0
Does anybody has some coffee for this pair? ;)

Daily pivot is at 1.5388,
Daily R1 is at 1.5433,
Weekly pivot is at 1.5394.

Happy trading to all! :clover:
 
40 pips candles are soooooooooo sexy when in the right direction :LOL:

Took profit with +40 pips gained. Well done Mark! :clap:
The other position is still running free like the wind (and with a 20 pips trailing stop); I am +60 pips so far wih this other one. Well done Fabius! :clap: :cheesy:
 
Hyper nice trades today!!!!
All Manual ´cause the EA did not work to me today...first time I got problems with the EA..??
+25pips EURUSD
+55pips GBPUSD...I got the risk manually because of the great price action before the retracement and hunting the next R level of 1.5469.
Thanks Mark
FMT is great
Good luck to all of you for tomorrow trades.
Best
Ponko
 
Hey Fabius, congrat.
You have the chance to go up to the next R level and it looks ok....Brave
Mamamía
cheers..
Ponko
 
lotterbe said:
Money Manager “ManageTPv2-4”

These are my settings for running default FMT plus a simple trailing stop that moves the stop to -20 at +20.

I use a 5-digit broker, so all my settings have an extra zero – eg instead of 20 pips I have to enter 200.

First target = 5000 (First target for partial profit. Not using, so set to random large number, eg 500 pips, to ensure it doesn’t trigger)
Target Increment = 5000 (Takes lots off every number of pips set here. Not using, so set to random large number)
Close Lots = 0 (Number of lots to close at each target increment. Not using, so set to 0)
Move Stops = true (Use trailing stop, true or false – set to true)
First Stop Target = 200 (Trailing stop 1, move stop up at 20 pips profit)
First Stop = -200 (Trailing stop 1, move stop to -20 pips)
Second Stop Target = 0 (Trailing stop 2, not using so set to zero - or to lock in profit, set to 350 for 35 pips, for example)
Second Stop = 0 (Trailing stop 2, not using so set to zero - or can set to 200 to move stop to 20 pips at 35 pips profit)
Use Max Loss = False (Activates hard stop – not using as FMT has its own stop)
Max Loss = 0 (Number of pips for hard stop, not using)
Magic Number = 12345 (Use same magic number as you are using in the FMT EA)

Test this first on a demo to make sure it’s working properly for you. Depending on your broker you may need to use 20 instead of 200, etc.
The only glitch I’ve found with this software is that it doesn’t like being altered once it’s running. This can cause it to close the trade immediately. So make sure you have the settings exactly as you want them, and have tested it first on a demo, before turning it on.

Good luck!
Click to expand...

HEY, i put in the parameters and set up the EA yesterday and it closed out today right when it was in the positive. Does that mean that 2morrow it should be working fine???
 
Activtrades (my broker) and I want to repeat it: ACTIVTRADES is preventing me from closing the second trade at +55 pips nor moving the stop loss higher.
I have been waiting for the closing order to be filled for almost 3 minutes :eek: :(.

As soon as I close it, I'll write an email to them :shuriken: : this kind of behaviour is not acceptable! :mad:
 
My stop loss that I moved higher has just been taken with a profit of +46 pips.
Activtrades owe 7 pips to me :mad:
To my girlfriend is going even worse: she tried to close at +70 and now she is at +55 and still not able to close the position.

ACTIVTRADES does not behave correctly!!!
Everybody must be aware of it :(.
 
Last edited:
PONKO said:
Hyper nice trades today!!!!
All Manual ´cause the EA did not work to me today...first time I got problems with the EA..??
+25pips EURUSD
+55pips GBPUSD...I got the risk manually because of the great price action before the retracement and hunting the next R level of 1.5469.
Thanks Mark
FMT is great
Good luck to all of you for tomorrow trades.
Best
Ponko
Click to expand...

Uh, the EA did not enter the trade to me too and I had to enter manually.
Maybe because the EA time must be set up every day since it's default is 5.30?
 
Fabius said:
My stop loss that I moved higher has just been taken with a profit of +46 pips.
Activtrades owe 7 pips to me :mad:
To my girlfriend is going even worse: she tried to close at +70 and now she is at +55 and still not able to close the position.

ACTIVTRADES does not behave correctly!!!
Everybody must be aware of it :(.
Click to expand...

Becaeful Fabio there is alot of *******s out there and good morning my friend
 
PONKO said:
Hey Fabius, congrat.
You have the chance to go up to the next R level and it looks ok....Brave
Mamamía
cheers..
Ponko
Click to expand...

Thank you Ponko :).
Congrats to you since you are able to follow trades on two different pairs at the same time. I couldn't do it... :eek:
Well, 86 pips are not bad... ;)
So I made my day and go back to study Fibo and for my exam on October 4th :smart:

Mario Loops said:
Becaeful Fabio there is alot of *******s out there and good morning my friend
Click to expand...
Good morning Mario, I hope you took this ride too :)


P.S.
Don't mess with Activtrades :whistling
 
Fabius said:
Uh, the EA did not enter the trade to me too and I had to enter manually.
Maybe because the EA time must be set up every day since it's default is 5.30?
Click to expand...

hmm... you should not have to set up every day. Mine works on my live account no prob, but on my demo I am having issue with the euro, the gbp goes no problem.

I did not download the new version though, with the fix for slippage. Remember to do that and also when you do you have to re-attach it to your chart, and set it for your broker time.

hope that helps!
 
You must log in or register to reply here.

Similar threads

W
29 turning 30. 11 years of trading. First profiting year Journal 1
2
Replies
37
Views
7K
IceThor
I
T
Colleged Fund Challenge
2
Replies
20
Views
4K
tkbieber
T
T
  • Poll
College Fund Challenge
32 33 34
Replies
678
Views
75K
tkbieber
T
Sharky
T2W Members' Choice Awards 2010 - The Results!
2 3 4
Replies
76
Views
19K
tar
tar
S
Question regarding high implied call volatility??
Replies
0
Views
2K
stocktradingguy
S
Top