ForexMorningTrade System

[Mario Loops]

Today I whined to myself that I lost $80 on this GBP trade. But then I remembered I made $800 earlier. So far since using FMT I am up over 210% ROI. Still I should not have lost that $80 because it was a mistake with my rules. Being stubborn is as costly as fear.:|

Blue how long have you been trading FMT

 

[ihelfman]

Today I whined to myself that I lost $80 on this GBP trade. But then I remembered I made $800 earlier. So far since using FMT I am up over 210% ROI. Still I should not have lost that $80 because it was a mistake with my rules. Being stubborn is as costly as fear.:|

What was the rule? My rule is to just follow the system, but I overslept this morning and accidentally dodged the bullet.

 

[hammy66]

hit BE on both GU and GJ

had BE=20 set , so expected. If I was awake at the time, could have closed with a few pips.

good luck tomorrow !

 

[alps007]

Today I whined to myself that I lost $80 on this GBP trade. But then I remembered I made $800 earlier. So far since using FMT I am up over 210% ROI. Still I should not have lost that $80 because it was a mistake with my rules. Being stubborn is as costly as fear.:|

Blue that is a great ROI. Well done. Could you please explain what your rules are if they are different to the ones in the manual.

Cheers

Alps

 

[alps007]

I placed my first trade with the system today using the 40pip SL and 40 pip TP rule. Not a winning trade but looking at the past trading records it looks like this system will be profitable eventually. Just have to be strong enough to sit through those losing days. Is there anyone else that has been trading the system everyday using the 40 pip SL and 40 pip TP only?

Thanks

Alps

 

[fxkicker]

I placed my first trade with the system today using the 40pip SL and 40 pip TP rule. Not a winning trade but looking at the past trading records it looks like this system will be profitable eventually. Just have to be strong enough to sit through those losing days. Is there anyone else that has been trading the system everyday using the 40 pip SL and 40 pip TP only?

Thanks

Alps

hy alps
2 trade today for my 1 loser 1 winner with 40/40

 

[Latintrader72]

Hello,
I'm new and I had lost

23/9/2010
-40

24/09/2010
0

27/09/2010
-40

28/09/2010
-40

that my results are different? thanks

 

[Mario Loops]

Hello,
I'm new and I had just lost

23/9/2010
-40

24/09/2010
0

27/09/2010
-40

28/09/2010
-40

that my results are different? thanks

Helo Latin
you just caught a bad run,i can see you broke evn on the 24 my was a lose,do not judge a win here and a lose there its the overal perforance that matters,so far this month we had 9wins 6loss,even if we lose the next 2 days we still come out with a possitive month this system gives, an all round the year about 100 pts a month on average,so chin up stick to your plan and all will be ok in the long run

 

[Latintrader72]

Helo Latin
you just caught a bad run,i can see you broke evn on the 24 my was a lose,do not judge a win here and a lose there its the overal perforance that matters,so far this month we had 9wins 6loss,even if we lose the next 2 days we still come out with a possitive month this system gives, an all round the year about 100 pts a month on average,so chin up stick to your plan and all will be ok in the long run

ok Mario Loops, thank you very much

 

[bluedancer]

Blue how long have you been trading FMT

I started trading with FMT on Aug 23. My results are because I combine it with my personal breakout strategy at 5 am gmt and my end of day trade around 20:00. It is the addition of the indicators that has helped me. My breakout strategy is look for 2 moves out of the gate with the gbp, the first goes 20 pips out of the range from 3-5am gmt and the second either jumps back into the range or shoots another 20p. This morning's trade for example followed this pattern where the FMT entered late. Had I entered earlier I would have had the 40p. However right now I am using my breakout strat as an observation tool and trying to stick to FMT entry rules. My exit rules vary so much from trade to trade. Basically I look for fib levels, breakout levels, and Elliott wave counts; if there is strong divergence on the macd that is a bonus. As a manual trader I look for possible setups for each week to come.

 

[bluedancer]

What was the rule? My rule is to just follow the system, but I overslept this morning and accidentally dodged the bullet.

Hi there, I am using FMT to enter the trade and then manually trade looking for potential targets; when I consider a strong sideways market I take a hedge on the trade. So I lost $80 because I hedged a trade, but failed to disable the trailing stop. It is a rule for me to check each trade sl, tp and ts whenever I change any one of the 3 or do a hedge.

 

[beavis1122]

performance

Is anyone able to run the back dated performance for the strategy that uses the 40 pip tp and sl with the 24 pip breakeven without the trail?

thx

 

[jd25]

Hi there, I'm new to FMT and a little confused about the start time. Does anyone use FMT on IAMfx and if so what should the correct start time be? thank you!

 

[swordfish]

Hi there, I'm new to FMT and a little confused about the start time. Does anyone use FMT on IAMfx and if so what should the correct start time be? thank you!

Add this indicator Clock_v2 to your chart. You can easily see the GMT and broker time for setting your trading hours.

 

[jd25]

Add this indicator Clock_v2 to your chart. You can easily see the GMT and broker time for setting your trading hours.

Thank you. This helps out alot.

 

[JOHNCO]

I placed my first trade with the system today using the 40pip SL and 40 pip TP rule. Not a winning trade but looking at the past trading records it looks like this system will be profitable eventually. Just have to be strong enough to sit through those losing days. Is there anyone else that has been trading the system everyday using the 40 pip SL and 40 pip TP only?

Thanks

Alps

Sure have. It's hard to just sit and watch everything go south. I have faith in FMT's potential to earn in the long run. Not giving up yet.:clover:

 

[bluedancer]

Re: performance

Is anyone able to run the back dated performance for the strategy that uses the 40 pip tp and sl with the 24 pip breakeven without the trail?

thx

This is actually the best setting I found on a 2 yr backtest, from sept 1 2008 to sep 27 2010:

40/40/24/0

2680 pips profit
highest drawdown - 23% - absolute
maximal drawdown - 9.6%
winners - 73.6%
losers - 26.4%
consecutive winners- max 13, avg 4
consecutive losers - max - 4, avg 1

If I compare this to using the trailing stop:

40/40/24/40:

2312 pips profit
highest drawdown - 18.7% - absolute
maximal drawdown - 13.75
winners - 66.3%
losers - 33.7%
consecutive winners- max 12, avg 3
consecutive losers - max - 4, avg 2

It has better results without the TS.

 

[nitethinker]

Re: performance

Glad to see there's new update from Mark.
Indeed the TS is useless.

So far I only use the EA to help me enter the trades and shut them down after that. He recommends setting BE. BE would have kept me out of the losses such as yesterday. That would mean I have to leave my 3 EA running to manage the 3 broker accounts.

Today onwards, I would set BE on all 3 brokers. I'll stick to BE @ 24 on Alpari. On 1 of the broker account, I plan to use BE @ 22 or 23, as the spread is higher at 4-pip.

Anyway, the good thing is that with or without BE, the system seemed to work just fine in the long run.

My personal thought: Setting BE would mean I'll miss out those trades that go >24pip then drop to -38 and then return to hit full TP. But on the other hand, in the long run, it'll probably reduce emotional impact to have a risk-free trade when price travels enough in the right direction.:clover:

 

[jeffstar]

Where is the update from Mark?

Thanks.

 

[bluedancer]

Where is the update from Mark?

Thanks.

HI Jeff, Mark sent an email update to all purchasers of the EA. If you did not get it then write to him at [email protected]