Just based on past experiences, and Kingers experience, and through lots of back testing I've done on other systems through those periods. It's just much easier on the head to avoid the stress !
Just based on past experiences, and Kingers experience, and through lots of back testing I've done on other systems through those periods. It's just much easier on the head to avoid the stress !
deserteagle
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Hi, I do not think this change was about April results only. Hammy setting at 6:15 did better than any standard set at 6:30 for 2011 at least.
Cheers.
Hi All,
New to the "journal" but have been using FMT since last year. Just to add my 20 cents, adjusted for inflation, I don't trade in December, or Thansksgiving and start back up in the 2nd week of Jan.
When I saw the EA almost hit TP a few times a few weeks ago, then go to BE, I did a quick backtest, which showed me that I would gain a few more pips over the last year using a 20-25 pip TP. I adjusted a few weeks ago and have been much happier. Granted the gains aren't as big when it goes my way, but I'll take 20 pips to 2-3(my BE) anyday.
Just read Marc's results page and wish he'd sent out an email about his adjustments, or if he did, I didn't get it.
best
shaun
New to the "journal" but have been using FMT since last year. Just to add my 20 cents, adjusted for inflation, I don't trade in December, or Thansksgiving and start back up in the 2nd week of Jan.
When I saw the EA almost hit TP a few times a few weeks ago, then go to BE, I did a quick backtest, which showed me that I would gain a few more pips over the last year using a 20-25 pip TP. I adjusted a few weeks ago and have been much happier. Granted the gains aren't as big when it goes my way, but I'll take 20 pips to 2-3(my BE) anyday.
Just read Marc's results page and wish he'd sent out an email about his adjustments, or if he did, I didn't get it.
best
shaun
Hi Shaun, welcome and thanks for the info. Yes Mark had sent out an email on the adjustment last week.
I see it now....thanks...I was out of town and somehow missed it...but anyway..I kinda figured it out for myself, which is good!
shaun
Weird, I am on your settings hammy but I got a sell signal on all my trades 6:15 6:30 6:45. I am using fxopen trade demo is that why. I ended up +55 pips (lost connection so it went to my broker number) I let it ride till it hit t/p at 6462 61 and 58, it went 7 hours.. Should I be managing how long the trades go?
If we are still talking about FMT history, looks like for the past 2 yrs neither April or August were bad months. I see no reason to put a hold on those months.
RedGuerrilla
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Stats for 04-25-2011
Live Accounts:
FMT 4.3, EA standard settings: 45 SL, 25 BE, +5 BE, 35 TP
6:15 UK Time, FXSolutions..., No Trade..........., 0.0, Stats since 11-08-2010: Total= +126.0
6:15 UK Time, IBFX.........., No Trade..........., 0.0, Stats since 01-04-2011: Total= +320.3
6:15 UK Time, PFG Best......, Long/Break Even...., +4.5, Stats since 03-01-2011: Total= +103.2
Demo Accounts:
FMT 4.3, EA standard settings: 45 SL, 25 BE, +5 BE, 35 TP
6:15 UK Time, PFG Best......, Long/Break Even...., +5.0, Stats since 02-01-2011: Total= +425.2
6:15 UK Time, FXCM.........., No Trade..........., 0.0, Stats since 02-01-2011: Total= +449.7
6:15 UK Time, Alpari(US)...., No Trade..........., 0.0, Stats since 02-01-2011: Total= +411.3
6:15 UK Time, FXDD.........., No Trade..........., 0.0, Stats since 02-01-2011: Total= +336.7
Notes:
All pip totals include slippage
FXSolutions is the only dealing desk broker
Live Accounts:
FMT 4.3, EA standard settings: 45 SL, 25 BE, +5 BE, 35 TP
6:15 UK Time, FXSolutions..., No Trade..........., 0.0, Stats since 11-08-2010: Total= +126.0
6:15 UK Time, IBFX.........., No Trade..........., 0.0, Stats since 01-04-2011: Total= +320.3
6:15 UK Time, PFG Best......, Long/Break Even...., +4.5, Stats since 03-01-2011: Total= +103.2
Demo Accounts:
FMT 4.3, EA standard settings: 45 SL, 25 BE, +5 BE, 35 TP
6:15 UK Time, PFG Best......, Long/Break Even...., +5.0, Stats since 02-01-2011: Total= +425.2
6:15 UK Time, FXCM.........., No Trade..........., 0.0, Stats since 02-01-2011: Total= +449.7
6:15 UK Time, Alpari(US)...., No Trade..........., 0.0, Stats since 02-01-2011: Total= +411.3
6:15 UK Time, FXDD.........., No Trade..........., 0.0, Stats since 02-01-2011: Total= +336.7
Notes:
All pip totals include slippage
FXSolutions is the only dealing desk broker
podberry
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It's only a 3 day working week here in the UK due to the royal wedding on Friday, most people would be on annual leave, hence risking 1%, remember next Monday is also a holiday in the UK. Personally I will be trading reduced risk until then. From Tuesday next week FMT should be "firing on all cylinders" as all the financial institution traders should be back at work. :smart:
Last edited:
chrisheath
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This series of bank holidays in the UK is unusual - Easter is at the end of April, with that big Royal event occurring too, giving bank holidays in 3 successive weeks, times when salaried people take there annual holidays to maximise their break time. Just a thought.
Good pipping if you're in today!
Chris
Morning all,
It seems that this week will be tricky, so like many, I will be very careful with trades and use reduced risk.
I personally will trade only the scalp option of TP 10 and hold off with the standard FMT, best to wait for more stable conditions.
Agree, this is not the pure mechanics of the strategy, but in my humble opinion, it is better to stay away and not force trades where there is evident risk.
Good luck to those who are in a trade.
It seems that this week will be tricky, so like many, I will be very careful with trades and use reduced risk.
I personally will trade only the scalp option of TP 10 and hold off with the standard FMT, best to wait for more stable conditions.
Agree, this is not the pure mechanics of the strategy, but in my humble opinion, it is better to stay away and not force trades where there is evident risk.
Good luck to those who are in a trade.
I am from Canada, and I like to make wild assumptions, but what do you guys from Europe think about this theory? I believe the UK bankers make up a small percentage of the total trading of the pound worldwide. The US is by far the largest economy in the world and I am sure US bankers have their automated systems in full swing by 3am ET (8am UK time), and the rest of Europe is huge compared to the UK. So altogether, I think that the US and Europe trading of the pound far outweighs the trading of the pound by UK bankers. Conclusion: If UK bankers take a holiday, when the rest of the world does not - it should have minimal impact on pound movement. Just some wild speculation on my part, but I would like to hear your thoughts. Cheers.
podberry
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I am from Canada, and I like to make wild assumptions, but what do you guys from Europe think about this theory? I believe the UK bankers make up a small percentage of the total trading of the pound worldwide. The US is by far the largest economy in the world and I am sure US bankers have their automated systems in full swing by 3am ET (8am UK time), and the rest of Europe is huge compared to the UK. So altogether, I think that the US and Europe trading of the pound far outweighs the trading of the pound by UK bankers. Conclusion: If UK bankers take a holiday, when the rest of the world does not - it should have minimal impact on pound movement. Just some wild speculation on my part, but I would like to hear your thoughts. Cheers.
Hi trader578, I will try and give my 5 cents worth. London is the Financial capital of the world with many international banks based here. So without their volume of trades the GU would decrease in volatility. Also, the New York open is 5 - 6 hours away from when FMT trades are triggered which has no impact on our trades. So yes, if London has a holiday our FMT trading system would be affected.
