ForexMorningTrade System

[jacquespienaar]

Katching!!! Another winner!!!

 

[jacktpickle]

+35 ! I needed that.

2 losses, 1 NT, 1 BE and 1 winner. Not a great week, but lets see at the end of the month !

 

[fais79]

Finally a TP for me this week.

Mon: SL
Tues: SL
Wed: No Trade
Thurs: BE
Today: TP

All values set as provided by Marc

 

[wiseambitions]

Thanks Mark!
I went for 38

 

[acsyycap]

+ 35 pips

 

[acsyycap]

Mon: SL
Tues: SL
Wed: No Trade
Thurs: TP
Today: TP

 

[rburke1963]

I don't usually get up and watch my trade but this morning I did and the good old human emotions almost cost me a winner. I thought for sure it was headed for a BE and I came so close to closing out with a small victory but I fought thru the urge and low and behold something finally went my way and the EA closed it at +35 pips. Last night I was using the money management feature and instead of my trade being 1.6 lots it was .16 lots. The trade was a win but much less than it should have been. I read on here someone else had the similar thing happen to them . I am with the same broker ibfx. Not sure if it is a broker issue or an EA issue. I had it set up for two decimals because ibfx allows that. Today I used money management false and input my lot amount. Anyways everyone have a great weekend!

 

[PipZombie]

I don't usually get up and watch my trade but this morning I did and the good old human emotions almost cost me a winner. I thought for sure it was headed for a BE and I came so close to closing out with a small victory but I fought thru the urge and low and behold something finally went my way and the EA closed it at +35 pips. Last night I was using the money management feature and instead of my trade being 1.6 lots it was .16 lots. The trade was a win but much less than it should have been. I read on here someone else had the similar thing happen to them . I am with the same broker ibfx. Not sure if it is a broker issue or an EA issue. I had it set up for two decimals because ibfx allows that. Today I used money management false and input my lot amount. Anyways everyone have a great weekend!

I hope Mark Reads this I tried to explain to him the problem that I was having with the money management. Looks like it is the same problem.

 

[tonygraham]

Hi, i am totally new to all this and have just purchased the system, i have a igindex account which i have used in the past but i dont think they use meta4 would this be a problem for a beginner...would i be better going for another broker that supports meta4..

 

[Tenapenny]

Hi, i am totally new to all this and have just purchased the system, i have a igindex account which i have used in the past but i dont think they use meta4 would this be a problem for a beginner...would i be better going for another broker that supports meta4..

Try http://www.smartlivemarkets.co.uk/ spreadbetting using MT4 and down to 10p/pip. I've been using them and IG with no problems from either but use SLM for using the ea on MT4.

 

[wiseambitions]

Hi, i am totally new to all this and have just purchased the system, i have a igindex account which i have used in the past but i dont think they use meta4 would this be a problem for a beginner...would i be better going for another broker that supports meta4..

You dont have to use the EA (Expert Adviser) system and can trade manually with your broker. I use the charting features of the FMT template in MT4 but my broker has his own platform and I place my trades manually through that.

 

[Hawali]

Hi, i am totally new to all this and have just purchased the system, i have a igindex account which i have used in the past but i dont think they use meta4 would this be a problem for a beginner...would i be better going for another broker that supports meta4..

Hi Tony

I'd suggest getting an Apari (UK) demo account.

Takes minutes few to open online - then download their MT4 and install the FMT software - this will give you the signals.


Account stays live as long as you place one demo trade a month.

Good luck

 

[tonygraham]

Ok sounds good will give it a try thanks very much guys...

 

[Deatil]

I had the same thoughts innitially until i did a few back tests. In my opinion this is a system that should be traded everyday (except public holidays) because it is measuring the strength and momentum of the GU prior to LON open and news announcements coming out during the day hours later should not influence your decison to trade the FMT. If the signal is there trade it.

We also have to take into account that we had a tight range in Asia today on the GBP/USD which works good on a breakout like today,

Also on this trade today to the downside we have to remember that those long the GBP/USD will have to start to book profits as they will not like to be long at the top going into NFP today, so the downside move makes sense. if this had been a Long Trade to be honest I would have never have taken it, since it was less then 40 pips from yesterdays high after being rejected 5 times on an hourly chart at 1.6297

 

[hammy66]

FMT for today : GU signalled 'short' but broker timed out, did not open trade, so No Trade. It's 2:30 am. for me so I don't watch the trades.

GJ hit TP=30
EU, NYopen, hit TP=30

good luck next week ! , and great weekend to all !

 

[Deatil]

FMT for today : GU signalled 'short' but broker timed out, did not open trade, so No Trade. It's 2:30 am. for me so I don't watch the trades.

GJ hit TP=30
EU, NYopen, hit TP=30

good luck next week ! , and great weekend to all !

odd you got "timed out" by your broker since the price action at the trade time really did not move much, and only really picked up after 30 mins after the traded was placed.

What do you think caused the "time out" hammy66?. Also may I ask which broker was this?

 

[seppuku]

Mine timed out (Error 128) as well with FXDD...

 

[nubchai]

I haven't had time to look at the price action closely today. But in my trade (BR+5) it looks like if I had set TP to 30 I would have had a win. But it missed 35 by a few pips. Again FXDD always seems to takes trades 4 pips higher or lower than other brokers.

 

[nubchai]

Could one of our back testing pros please run a test for TP=10, SL = 40, BE=0, Trailing = 0 ?

I know the r:r is insane but I'm curious about the results of such a setup.

Thanks!

 

[Deatil]

I haven't had time to look at the price action closely today. But in my trade (BR+5) it looks like if I had set TP to 30 I would have had a win. But it missed 35 by a few pips. Again FXDD always seems to takes trades 4 pips higher or lower than other brokers.

What most people seem to over look is the fact that FXDD has a fixed spread on the GBP/USD at 4 pips, while many other brokers have a floating spread for the same pair between 1-2 pips.

People need to factor those 2 extra pips into account, Which mean a take profit of 35 becomes 33 and a BE of 20 becomes 22.

It simple but I would bet that many have over looked this fact.