ForexMorningTrade System

I think we all had great expectations that FMT was going to do well in May as per last history, shows you how difficult this world of Forex can be. Must say I am feeling the pinch trading 6.4% risk to make 5%, Those trading over 10% as per one of the polls must be crying crocodile tears by now. :)
 
For the record, US time changes for 2010 were 14 March to EDT (summer time) and 7 Nov back to EST (winter time).

In 2011, EDT (summer time) started on 13 March.

My reference: http://www.timeanddate.com/

So I have to adjust my trading times in the tests on those dates. Tests will span 07:00 to 08:30 NY time on each 15 min increment.

Morning Coral. Great work testing the NY opening times! I think you've well and truly put that idea to bed! - I definitely was barking up the wrong tree with that one!! If you have a slight addiction to backtesting, you might want to investigate the same pre-opening time with NY as we do in London - 6.15 and 6.30am NY time. Many thanks for your time spent looking at this idea, it's much appreciated(y)
 
Nice one, need a co pilot on this trip, and of course the luck of the Irish :LOL:

Good luck to you brave souls, forging the way forward! I might have thought about it if the short term trend PSAR indicator had turned over - but it hasn't! Best wishes :clover:
 
Good luck to you brave souls, forging the way forward! I might have thought about it if the short term trend PSAR indicator had turned over - but it hasn't! Best wishes :clover:

Cheers Remraf, thought I would give it a punt today as I got a no trade yesterday with Oanda, got my parachute ready to bail though, looks like we are on the wrong side of the trade for now - MAYDAY !!! :LOL:
 
Stats for 05-16-2011



Live Accounts:

FMT 4.3, EA standard settings: 45 SL, 25 BE, +5 BE, 35 TP
6:15 UK Time, FXSolutions..., SHort/Loss...., -46.0, Stats since 11-08-2010: Total= -122.0
6:15 UK Time, IBFX.........., SHort/Loss...., -44.9, Stats since 01-04-2011: Total= +87.5
6:15 UK Time, PFG Best......, SHort/Loss...., -45.1, Stats since 03-01-2011: Total= -146.3



Demo Accounts:

FMT 4.3, EA standard settings: 45 SL, 25 BE, +5 BE, 35 TP
6:15 UK Time, PFG Best......, SHort/Loss...., -45.2, Stats since 02-01-2011: Total= +186.9
6:15 UK Time, FXCM.........., SHort/Loss...., -45.7, Stats since 02-01-2011: Total= +261.9
6:15 UK Time, Alpari(US)...., SHort/Loss...., -45.1, Stats since 02-01-2011: Total= +220.4
6:15 UK Time, FXDD.........., SHort/Loss...., -45.4, Stats since 02-01-2011: Total= +144.7



Notes:

All pip totals include slippage
FXSolutions is the only dealing desk broker
 
I'm glad I didn't trade at 06.30 even if the signals lined up by then. I think we were at the time right on a pivot line. And yet of course to have traded at 06.30 would have been the normal rule until a month back.

A sell would have also been initiated for followers of the Forex Net Trap system, which on most occasions trades in the same direction as FMT using other signals.

The main indicator on my chart set up which would have detracted me from going short today was QQE, which was saying buy. I wonder if anyone has tried observing whether QQE is as right as the main FMT signals in which case it coul make a good confirmation. Yesterday QQE was the only indicator which said be long at the time FMT and all the others saw it as a short, yet it was right.
 
Amazing how April month had us going in the right direction, albeit with plenty of B/E's. May has been a shocker to say the least. :help:
 
06:15 Entries
No Trades (Think FX and Alpari UK)

06:30 Entry
40/10 SLM Live -40pips (need to win next 15 trades just to break even on this strtegy from begining of last week).
 
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