ForexMorningTrade System

roger007 said:
Just wanted to say hi to everybody and to tell you how much I'm enjoying all the conversations, I purchased the FMT pretty much on the day it was launched and so far I have been very impressed, also the way that Mark has dealt with any enquiries has impressed me immensely.
I have been trading for about 10 years and have concentrated on Fx over the last three years. Apart from Mark's system I also trade the Forex Rebellion which I also have a reasonable amount of success with. It is so impressive to see so many people from different parts of the world all interacting on the same theme lets keep in up.
Happy Trading....
Click to expand...

Roger would you car to share your Forex Rebellion trading methods?
If successful I would like to hear your thoughts.

Thanks,

Bobby R.
 
Hi Bobby
more than happy to share my Forex Rebellion strategies but as this is the Forex Morning trade thread I feel it would not be appropriate to discuss it here.
However I will send you a private message.
Roger.
 
roger007 said:
Hi Bobby
more than happy to share my Forex Rebellion strategies but as this is the Forex Morning trade thread I feel it would not be appropriate to discuss it here.
However I will send you a private message.
Roger.
Click to expand...

HI Roger
Can I hear it as well??
 
Hi Roger,

Since i have just started using Forex Rebellion do you mind if i get in on that. If so, what do you need me to do ?

Clinton
 
Hi guys,
there is an interesting thread on Rebellion too where you can go:
http://www.trade2win.com/boards/forex-strategies-systems/76958-anyone-using-forex-rebellion.html

Roger, you can share your points of view there and I guess it would be very helpful for everyone if you tell about your experience with this system (but it's better in the thread dedicated to it ;)).

Now let's go back in topic:
I am glad that today there was no signal on Gbp/Usd 'cause its movement could have caused some problems... :-0
 
Last edited:
Fabius said:
Hi guys,
there is an interesting thread on Rebellion too where you can go:
http://www.trade2win.com/boards/forex-strategies-systems/76958-anyone-using-forex-rebellion.html

Roger, you can share your points of view there and I guess it would be very helpful for everyone if you tell about your experience with this system (but it's better in the thread dedicated to it ;)).

Now let's go back in topic:
I am glad that today there was no signal on Gbp/Usd 'cause its movement could have caused some problems... :-0
Click to expand...

Hi fabius

Thanks for the link will do.
Take care
Roger
 
roger007 said:
Hi Bobby
more than happy to share my Forex Rebellion strategies but as this is the Forex Morning trade thread I feel it would not be appropriate to discuss it here.
However I will send you a private message.
Roger.
Click to expand...

Hi Roger. I too would be very interested in hearing this.
 
LIQUIDKNUCKLES said:
Hey,

You know, with the trade manager v2-4 EA if you have a 40 pip stop and u set it so that when price moves 20 pips in your favor the stop moves to -20 does the stp STAY PUT at 40 pips and only moves when when price goes to 20 pips. Im asking this because the new trailing stp feature on the fmt isnt like this, its different than i expected.

AND ALSO, when i set up the trade manager v2-4 with the parameters that i want, would the glitch (it closing out a trade) occur?...when does the glitch occur?
Click to expand...

Hi Knuckes,
Yes, the money manger stop only moves to -20 once the price gets to +20. It stays at -40 until then. It's different to a normal trailing stop, which keeps moving the stop up so that it's always 40 pips behind the current price (if it's set to 40). However, if the price drops back, the stop stays where it is - it never goes backwards. Then if the price gets ahead by 41 pips, the stop will move up another pip, etc.

I presume FMT's new trailing stop works like that - I'm still testing it out on my demo. I don't particularly like trailing stops. I prefer moving my stops at set levels, which is why I like the money manger. So I may only use the breakeven feature of the new EA, or just continue with the money manager - I haven't decided yet. Yesterday the new EA only made 10 pips on my demo, whereas my live trade made the full 40. But Mark's back-testing does show the b/e + trailing stop to be the most profitable...

The "glitch" really only happens if you meddle with the settings once a trade is on and is being managed. It depends where the trade is at when you make the changes. If nothing's happened yet, the manger just accepts the new settings and carries on monitoring. But if it's already taken half profit for example, the new settings can cause it to close out the trade. I've been caught out a couple of times, so I just make sure I don't change the settings once the trade is on. The programmer describes it in his doco, which I'll attach - he tells you what to do to avoid it happening.
 

Attachments

  • MANAGE TAKE PROFIT.doc
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lotterbe said:
Hi Knuckes,
Yes, the money manger stop only moves to -20 once the price gets to +20. It stays at -40 until then. It's different to a normal trailing stop, which keeps moving the stop up so that it's always 40 pips behind the current price (if it's set to 40). However, if the price drops back, the stop stays where it is - it never goes backwards. Then if the price gets ahead by 41 pips, the stop will move up another pip, etc.

I presume FMT's new trailing stop works like that - I'm still testing it out on my demo. I don't particularly like trailing stops. I prefer moving my stops at set levels, which is why I like the money manger. So I may only use the breakeven feature of the new EA, or just continue with the money manager - I haven't decided yet. Yesterday the new EA only made 10 pips on my demo, whereas my live trade made the full 40. But Mark's back-testing does show the b/e + trailing stop to be the most profitable...

The "glitch" really only happens if you meddle with the settings once a trade is on and is being managed. It depends where the trade is at when you make the changes. If nothing's happened yet, the manger just accepts the new settings and carries on monitoring. But if it's already taken half profit for example, the new settings can cause it to close out the trade. I've been caught out a couple of times, so I just make sure I don't change the settings once the trade is on. The programmer describes it in his doco, which I'll attach - he tells you what to do to avoid it happening.
Click to expand...


And can u use both at the same time, like having the trade manager working and setting your stop accordingly but at the same time have the fmt EA B/E feature work as well...like, having the trade manager move your stop -20 when price goes 20pips in your favor and then when price hits 35pips the FMT EA put your stop at B/E??
 
LIQUIDKNUCKLES said:
And can u use both at the same time, like having the trade manager working and setting your stop accordingly but at the same time have the fmt EA B/E feature work as well...like, having the trade manager move your stop -20 when price goes 20pips in your favor and then when price hits 35pips the FMT EA put your stop at B/E??
Click to expand...

haven't tried that yet, but I don't see why not. I was thinking of doing that too :) However Mark has found that the best place to move to b/e is at 24, not 35.

From Mark's 4 year backtesting, the strategy that appeals to me the most is number 2:

Standard rules + SL to BE at 24, and no Trailing Stop

It doesn't have as many pips profit as the last strategy using the trailing stop, but it does have the highest win ratio. I'd sooner have a higher win ratio and miss out on the few trades that run past 40 for those extra pips.

So I'm thinking of setting FMT's BreakEven to 24 and also running the trade manager, but setting it to move the stop to -20 at +15, instead of at +20. (seeing as +20 and +24 are so close together).

I'll be manually going through some backtesting to see if this will be viable, and will let you know.
 
hammy66 said:
GbpUsd : No Trade

GbpJpy: buy signal, +40 pips TP :)

EurUsd: No Trade
Click to expand...

Hammy (or anyone trading GBPUSD),

Can you tell me what your settings are and what time you are trading. I've run it in Strategy Tester and cant get a fix on what will work.

Thanks
Mitch
 
bluedancer said:
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.
Click to expand...

Thanks Blue(y)i am not trading this pair.
 
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