ForexMorningTrade System

[michaelsa]

Good Morning All,

Using the new settings, and trading at 06h15 and 06h30

No Trade at 06h15.
Will wait to see what happens at 06h30.

As a side note- A MASSIVE Thank you to Mark, hammy66, Wiseambition, and all the other contributors to this thread. Not only do we have a great EA, but a great thread too!

 

[biggreycat]

hi podberry, wat does 'not visable on the EA' mean? i thought you can put the FMT indicators on the same chart as your EAs athough its optional and not essential for trade execution?

yr right, NT 615 tdy.

 

[Euro_d]

Morning all,

a quick question for Hammy (thanks for testing the now official settings, good work),

Do you have exact entry times, i.e., exactly 6-15 and exactly 6-30 or do you allow an entry anytime between the 2?

Thanks

Sorry, just realised that this is really a TMT question!

 

[pdrmendes]

Morning all...

SLM

6:15 No Trade and 6:30 looks the same...

 

[davinci79]

No trade at 6:15.

 

[podberry]

hi podberry, wat does 'not visable on the EA' mean? i thought you can put the FMT indicators on the same chart as your EAs athough its optional and not essential for trade execution?

yr right, NT 615 tdy.

Yes you are correct, it is useful to add the indicators on your chart so that you have an idea of the setup for the day, if I see a no trade coming up I can see how far we are out on the indicators and look at trading at 06H30, or possibly 06H45 as Hammy does - That's what I will do from now on - it's up to each individual although the suggested time by Mark is 06H15.

 

[jonnymac]

Morning all notrade for me today on both 6.15 and 6.30 so back to bed for an xtra hour have a great day

 

[Tbird]

Looks like no trade at 6:30

 

[michaelsa]

New day, New settings, and still NTs, you gotta laugh,

M

 

[RedGuerrilla]

Stats for 04-18-2011



Live Accounts:

FMT 4.3, EA standard settings: 40 SL, 20 BE, 35 TP
6:30 UK Time, FXSolutions..., Short/Break Even...., 0.0, Stats since 11-08-2010: Total= +132.0
6:30 UK Time, IBFX.........., Short/Profit........, +34.6, Stats since 01-04-2011: Total= +327.9
6:30 UK Time, PFG Best......, Short/Break Even...., 0.0, Stats since 03-01-2011: Total= +107.2



Demo Accounts:

FMT 4.3, EA standard settings: 40 SL, 20 BE, 35 TP
6:30 UK Time, PFG Best......, Short/Break Even...., +0.5, Stats since 02-01-2011: Total= +425.9
6:30 UK Time, FXCM.........., Short/Break Even...., 0.0, Stats since 02-01-2011: Total= +454.9
6:30 UK Time, Alpari(US)...., Short/Break Even...., 0.0, Stats since 02-01-2011: Total= +416.7
6:30 UK Time, FXDD.........., Short/Break Even...., 0.0, Stats since 02-01-2011: Total= +341.6



Notes:

All pip totals include slippage
FXSolutions is the only dealing desk broker



Comments:

Great move on Mark for changing the EA settings. I did some research on hammy66 settings too.
I concluded that 6:15 was a better time too, but I didn't think it would make that much of difference long term.
But now with all these break evens, these new settings should help.



From Post #5659, page 708, Jan 19, 2011
...But what I found out, thanks to hammy66, was that the best time to trade is at 6:15 UK time.


Here are hammy66's back tested results for both Nov & Dec period, using his settings:
Test period from 11-08-2010 to 12-31-2010:
hammy66's System: Time, Total number of trades, Total pips at the end of the test period
6:00, 23, +148.0 pips
6:15, 26, +237.4 pips
6:30, 25. +7.1 pips
6:45, 26, -38.3
Total: +354.2


Here are hammy66's results from when FMT started back in Aug, using his settings:
Test period from 08-02-2010 to 12-31-2010:
hammy66's System: Time, Total number of trades, Total pips at the end of the test period
6:00, 57, +491.4 pips
6:15, 65, +627.6 pips
6:30, 68, +539.8 pips
6:45, 63, +296.0 pips
Total: +1954.8

hammy66's settings: TP=30, SL=44, BE=20, BE+5 pips, UK time zone.

 

[mgarry]

Hi, I thought you would like to see why Mark has chosen the Hammy setting
Just take a look at my comparison sheet.

Thanks Hammy for sharing this set to the forum.

Hi Deserteagle, as I have excel 2003 I cannot open your file. Would you mind attaching a copy saved as excel 2003 if that is possible. Appreciate it

 

[podberry]

No Trades on all 3 Hammy starts - Wasn't meant to be today - Markets are in holiday mode

 

[3PO]

My fellow traders, should I use this EA on bank holidays or not? For me no trade on both FMT and TMT with the new settings.

Thanks, 3PO

 

[podberry]

My fellow traders, should I use this EA on bank holidays or not? For me no trade on both FMT and TMT with the new settings.

Thanks, 3PO

Hi 3PO, your call, may be a good idea to reduce your risk though

 

[jonnymac]

Hi again thought i would wait to see what the 6.45 candle was doing, halfway through candle i got a long signal and took it as i am mew to this system would we normally wait to the end of the candle or is it ok to take the trade halve way through any advise and hope that makes sense

 

[podberry]

Hi again thought i would wait to see what the 6.45 candle was doing, halfway through candle i got a long signal and took it as i am mew to this system would we normally wait to the end of the candle or is it ok to take the trade halve way through any advise and hope that makes sense

Hi jonnymac, I would not recommend 'chasing' the Market as you could get burnt - Let the system trigger for what it was designed to do. There will be plently of opportunities going forward with the option of trading at 06H30 as well.

 

[shoot2scoot]

No trade at 6:15.

Can anyone help as we are quiet today?

I went with the new settings this morning for my EA on SLM and all seemed fine. I then noticed that my blue column hadn't adjusted to the new settings? I checked my EA all correct and I had updated my template. So I tried looking at the indicator list. Every time I try to open the indicator list (right click or drop down menu) the program freezes and I have to use Program Manager to close it? All other tools seem fine bar this!

Any thoughts much appreciated?

Thanks

Chris

 

[jonnymac]

Thanks Podberry i think i have been to eager this morning and should have gone back to bed think you are right btw this is a great thread well done to everyone for making this thread what it is its a great help to us newbies

 

[pret]

No trades today 0715 0730 0745
Alpari uk Sigtrader and E global

 

[chrisheath]

Hi again thought i would wait to see what the 6.45 candle was doing, halfway through candle i got a long signal and took it as i am mew to this system would we normally wait to the end of the candle or is it ok to take the trade halve way through any advise and hope that makes sense

Jonnymac, welcome!
I don't know specifically about taking a trade halfway through the candle, but in this case, if you look at candle activity about 60 candles ago, there is a large red candle, amongst some fairly volatile activity.This creates a 'jumpy' indicator, which goes from 'long' to 'short', as these big candles come into, or drop out of the indicator range. This is the kind of thing that gives FMT a no trade , and keeps us out of trouble, when the market is uncertain, or highly volatile. I personally, like to keep it simple, as I'm less likely to use my discretion (which usually ends up losing!!) , so I wouldn't trade halfway through. Always up to you, of course..

Good luck for this one! Chris