ForexMorningTrade System

[LIQUIDKNUCKLES]

Your spread maybe ?

try adding 2 or 3 pips extra to your tp

you did well at 39 pips !

do u add the spread?

 

[civfan]

Hi guys.
Can you please explain me this:
if we start the ea with SL ans TP only, and then after a trade have triggered and we have a position open, if we then change the ea settings and put a value in the "breakevenatpipsprofit" that means that for that trade opened it will apply that feature (breakeven when reach that value)? I mean, even if initially we start the ea without a value for that setting and only change it after a trade trigger?

 

[LIQUIDKNUCKLES]

Your spread maybe ?

try adding 2 or 3 pips extra to your tp

you did well at 39 pips !

So would i only add 2 or 3 pips to my tp when it's a buy? What do i do in case of a sell do i just leave the sell alone?

 

[nitethinker]

Hey GUys I never got 40pips out of any fmt trades. when i do get my tp hit it is always like 39pips or 38pips.like, today was the lowest it was 37pips. Do any of u guys know why?

Your spread maybe ?

try adding 2 or 3 pips extra to your tp

you did well at 39 pips !

Yep, I suspect it is due to spread too. I am running FMT on 3 different MT4 brokers. 2 of them hit +40 exactly, but the 3rd broker, always end up at +39. It is 4pip spread which is the highest, the other 2 brokers were 2-3pip generally.

As I mentioned earlier today, from now on I am going to adjust the TP and SL base on the level given by the indicators, as it appears that a few recent losses could have been avoided if I had not aim for full +40 TP added by the EA. Setting TP at the ideal profit level given by the indicators seemed to hit nicely.

 

[nitethinker]

So would i only add 2 or 3 pips to my tp when it's a buy? What do i do in case of a sell do i just leave the sell alone?

If you want exact, I think whether you buy or sell, just check the entry price and adjust the TP exactly to +40 (if it is not) from the entry price. That'll save you some maths.

 

[Fabius]

Nice surprise when I woke up and found that my 40 pip TP had beeb taken by 15.00 candle.
And it didn't go half pip higher! :whistling

Anyway I used my own rules by closing half position at +20 and let the other half run.
Today it's been the most difficult trading day for me.

This is really a set and forget system. According to me this is the best way to make it display all its full potential.

Back testing 40 SL - 40 TP from the beginning of this year till today with 500 € and 0.1 lots, with MT4 Strategy Tester, the account grew to 1420.93, while using the new EA with 40 SL - 40 TP, 24 pip Bep and TS 40, the account grew to 1230.16.
Does it make sense? :|

 

[britishbull]

The original settings work, good weeks … not so good weeks etc. A typical trading system.
I don’t know what settings Mark uses, but his system we all bought trades 40:40, gbpusd, 1.5 hrs before the London open.
You can try using other settings until the cows come home, but at some point you need to settle down and stick with it to get consistency and results.

Hi Kinger

The system that I bought from Mark advises that the 40 pip trailing stop and break even at 24 pips profit is the best option. He lists results in the EA which substantiate this info too - check out my earlier post for an extract of the EA manual I downloaded after buying the system just last week.

The results suggest that this version of the manual is recent as they run up to half way through this month.

Just thought I'd point this out - I'm not trying to change the settings and improve the system, just trading as per the recommendations Mark gave. Today however, many got their 40 pip profit whereas I got stopped out at approx -25 pips due to the trailing stop.

Having said that, the price dropped to within around 5 pips of the 40 pip stop, so today may be a bit of an anomaly anyway :?:

 

[nitethinker]

yup, that makes sense !..:smart:

I had TS=25 and got hit at -15, I think I will only use BE and set TS=0...

thanks !

Yep, personally (IMHO), I think the TS that start immediately is hurting the breathing room needed by the pair. I would be more comfortable if the TS only start trailing when BE become active.

Currently I'm still sticking to the original system, just TP or SL, no BE, no TS. BE would definitely prevent some losses that went near TP and come tumbling back. But there appear to be just as many trades that went +30 then down -35 and amazingly back to TP again.

That said, I'm considering that BE would come in handy for me. I'll monitor it a bit more to decide if I would use it or just stick entirely to the original system, which by itself is pretty profitable so far

 

[Mario Loops]

Hi Kinger

The system that I bought from Mark advises that the 40 pip trailing stop and break even at 24 pips profit is the best option. He lists results in the EA which substantiate this info too - check out my earlier post for an extract of the EA manual I downloaded after buying the system just last week.

The results suggest that this version of the manual is recent as they run up to half way through this month.

Just thought I'd point this out - I'm not trying to change the settings and improve the system, just trading as per the recommendations Mark gave. Today however, many got their 40 pip profit whereas I got stopped out at approx -25 pips due to the trailing stop.

Having said that, the price dropped to within around 5 pips of the 40 pip stop, so today may be a bit of an anomaly anyway :?:

Hi Brit
When Mark first sold the system it was on a 1 to 1 risk reward ratio,its only the people in here that asked him to ajust the EA to lesson the losses so after a lot of backtesting he came up with those figures and settings

 

[britishbull]

Hi Brit
When Mark first sold the system it was on a 1 to 1 risk reward ratio,its only the people in here that asked him to ajust the EA to lesson the losses so after a lot of backtesting he came up with those figures and settings

Ah, that makes sense now - I'll have to have a rethink on which settings I use then

 

[Kinger]

do u add the spread?

yes, my tp is price + 43pips (3 pip spread with alpari)

 

[Kinger]

Being honest, my experience with any trading method is you can always try and improve it.
One loss and you want to see why and change the rules accordingly. You’ll end up doing it all the time and you’ll lose your edge.
This system wins over a short period of time, and to me the reason why it wins is simple if you understand why it works.

My opinion (so no dumping on me please :whistling) is a trailing sl, split tp’s etc just over complicate things.
Yes on some days it might save you a loss, but over 3 mths … I bet they’re evened out

 

[Tenapenny]

The original settings work, good weeks … not so good weeks etc. A typical trading system.
I don’t know what settings Mark uses, but his system we all bought trades 40:40, gbpusd, 1.5 hrs before the London open.
You can try using other settings until the cows come home, but at some point you need to settle down and stick with it to get consistency and results.

If you’re changing your risk, stopping out early due to fear or reversal, multiple trades with different TP’s etc on a daily basis, you’re not being consistent and you will lose, plain and simple.
I’m still not trading this system as I’m forward testing still on a demo account. As you cannot back test this using the ea on MT4. Google it for articles to why.

Using 40tp, 40sl you will make money, I fear it’s just not quick enough for some people.
This morning was a classic example, it looked like a loser but it jumped back. So put on the trade and leave it alone until tp or sl is hit.
Consistency is the key here.

Exactly, set and forget. I just let it run and look for other trades using my preferred methods and TA on my swing and position trades.

 

[tkbieber]

Your spread maybe ?

try adding 2 or 3 pips extra to your tp

you did well at 39 pips !

I figured out I need to add at least 4 pips to both the SL and TP so I don't get stopped out early if it goes neg. The other day I was stopped out at neg 38 pips because the crazy spread put me behind by 4 pips. Today I barely made it. The market went down 40 pips, I added 44 to sl and somehow it still pulled through to end up in profit. Wow , that was close. :clap:

 

[nurei]

Being honest, my experience with any trading method is you can always try and improve it.
One loss and you want to see why and change the rules accordingly. You’ll end up doing it all the time and you’ll lose your edge.
This system wins over a short period of time, and to me the reason why it wins is simple if you understand why it works.

My opinion (so no dumping on me please :whistling) is a trailing sl, split tp’s etc just over complicate things.
Yes on some days it might save you a loss, but over 3 mths … I bet they’re evened out

So, are you saying using the 40SL and 40TP without all the TrailingStopLoss or SL to BE would be the best setting.

bye

 

[mg550]

Just started my first trade this morning. Used the new settings from Mark which involves the BE and TS. I too got stopped out at around -23 pips. It appears that the TS does kick in immediately even though I was also under the impression that it wouldn't start until the BE was triggered and the price had moved beyond 40 pips. It's unclear yet to me as I'm still new how the TS works / resets once the BE is triggered if at all.

I emailed mark about my assumptions to confirm them and will post back to propagate those findings.

 

[bluedancer]

Just to let you know that when I removed the Indicator from my charts the EA works more efficiently. Also another thing I found out is that if you disable all EAs in order to manual trade and then turn them back on later for your other EAs to take effect, the FMT EA will kick back in on your open trade, and manage it again. I had a second trade on the FMT that did not hit my target by 2 pips and came back to BE.

 

[hammy66]

Just to let you know that when I removed the Indicator from my charts the EA works more efficiently. Also another thing I found out is that if you disable all EAs in order to manual trade and then turn them back on later for your other EAs to take effect, the FMT EA will kick back in on your open trade, and manage it again. I had a second trade on the FMT that did not hit my target by 2 pips and came back to BE.

bluedancer, "more efficiently", what exactly are you refering to ? response time ? what ?

I can't imagine the indicators making much difference ? Or do you have several charts all open with same indicators running ? Thanks !

 

[ihelfman]

Just to let you know that when I removed the Indicator from my charts the EA works more efficiently. Also another thing I found out is that if you disable all EAs in order to manual trade and then turn them back on later for your other EAs to take effect, the FMT EA will kick back in on your open trade, and manage it again. I had a second trade on the FMT that did not hit my target by 2 pips and came back to BE.

What do you mean by more efficiently. It seems to do everything quickly with the indicator on board. The only thing that I would like differently is that, when I am using the TP 80 setting, for the TS 40 not to kick in until the trade was up 40 pips.

 

[Kinger]

Just to let you know that when I removed the Indicator from my charts the EA works more efficiently. Also another thing I found out is that if you disable all EAs in order to manual trade and then turn them back on later for your other EAs to take effect, the FMT EA will kick back in on your open trade, and manage it again. I had a second trade on the FMT that did not hit my target by 2 pips and came back to BE.

Im confused too, what indicator are your talking about ? I think I'm missing something