ForexMorningTrade System

[mark_wilson]

Well, I love FMT, also 1MinDaily (which is of a logic "very" near to the one Melodica offers for free on Babypips).
When a Free System gets copied its called "pirating", if a commercial system gets decompiled its called " Open Source" .......
I personally prefer the commercial variant as they are normaly more polished.

Thanks to Marc! Thanks to Ming (SteadyWinner)

Hopefully Marc will further develop some other useful WONDERFUL products.

Regards

Hittfeld

Good points Hittfeld. Also, Deatil's earlier post was insightful.

I recently tried a month's worth of SolomonFX for $10. They nightly emailed a trade which was almost ALWAYS identical to the one FMT takes. They didn't call it that, but night after night it was almost identical, within a few pips. What were they looking at to send out those trades?

SteadyWinner is free, or $28. My choice (and since I started the free version on my live account it's 10 and 1, not a bad start).
FMT is $97, FMT Extended is $50. My choice.

I've purchased both. Mark and Travis are both happy.
What's the problem?

 

[tkbieber]

For TK,
You have stolen mark's idea.
Do you accept this?
For thos who bought the Extended EA, put it here and let's see if TK will be happy or not.
Eye for an Eye

Sorry, but until you know the difference, tis not Mark's Idea. What would be the point of trading a different system if it were the same. You would just open 2 charts and set the time differently. What's the point of that. Please get the facts straight.

 

[mark_wilson]

Now, to muddy things up more:

USDCHF short at .9951

Well, so much for the 1st live trade on the USDCHF. Moved 10 pips and came right back to my Break Even setting.

I live to fight another day!

update: Moved to a low of .9898, 53 pips. TakeProfit was 50 pips. That's okay, for me, tight breakeven is better than moderate loss. Will toy with allowing more room for trade to mature.

 

[nubchai]

Good points Hittfeld. Also, Deatil's earlier post was insightful.

I recently tried a month's worth of SolomonFX for $10. They nightly emailed a trade which was almost ALWAYS identical to the one FMT takes. They didn't call it that, but night after night it was almost identical, within a few pips. What were they looking at to send out those trades?

SteadyWinner is free, or $28. My choice (and since I started the free version on my live account it's 10 and 1, not a bad start).
FMT is $97, FMT Extended is $50. My choice.

I've purchased both. Mark and Travis are both happy.
What's the problem?

As a disclaimer I bought both EAs and use them.

Mark I think the problem is if someone takes a copyrighted EA, decompiles it, makes changes and then resells it as original. That's different then seeing a strategy and developing a new original EA and adding different logic. A copyrighted EA is intellectual property which is theoretically protected. In reality pirating occurs all over the place. So far I think 3 or 4 people have decompiled Mark's EA and are selling variations. Cacus had a free EA he developed on the Yahoo Metatrader list and someone else turned around and sold a version commercially. Many of the free EAs that appear forums end up being sold by people who didn't create the EAs. That's why you will see more EAs sold which do server side checks and sometimes will have data you'll need on their server before the EA will work.

So that, I believe, is the larger question and issue.

 

[juanche]

Now, to muddy things up more:

USDCHF short at .9951

:clap:

Well, so much for the 1st live trade on the USDCHF. Moved 10 pips and came right back to my Break Even setting.

I live to fight another day!

thanks could you repeat the settings please

 

[mark_wilson]

It has the same small draw-down and that is what I like.

I agree! I'm a fan of small drawdown (who isn't???). Don't have the stomach for anything else! It's why the martingales don't do it for me.

 

[Hittfeld]

thanks could you repeat the settings please

And wether its GMT please.

Thanks

Hittfeld

 

[mark_wilson]

thanks could you repeat the settings please

Hi Juanche,

See page 506, post 4041 for the settings that created that equity graph on the USDCHF. Today, it moved 10 pips, quickly came back to get me out at breakeven, then moved 53 pips which would have given us 50 pips had it not been for the aggressive trailing stop.

There hasn't been much input by others on trading the USDCHF with a robot targeting the GBPUSD (the London Forex Rush, etc, etc), so move cautiously. But when I see a 2+ profit factor on backtest, and a nice equity chart (with low drawdown), I figure it's worth looking at.

We might want to look at tweaking the start time to coincide with the NY open, instead of an hour or so after the open. But my backtest came up with my current settings, and a visual look-back seems to confirm the pair typically makes a pretty strong move an hour or so after the open.

Someone comment if I'm wrong.

Regards

 

[hammy66]

Sorry, but until you know the difference, tis not Mark's Idea. What would be the point of trading a different system if it were the same. You would just open 2 charts and set the time differently. What's the point of that. Please get the facts straight.

tk, is the Extended EA not your improvement of FMT ?

I see nothing wrong with improving the FMT. EA for your own use, but to sell it, well I think that is not right ?...

Anyways this is the FMT thread, maybe you should start your own journal thread for your Extended EA ..?..

cheers !..

 

[tkbieber]

In lieu of last night's trade, I retested from Jan through today. I have adjusted the settings. These settings would have got me 2216 pips so far this year.

 

[mark_wilson]

And wether its GMT please.

Thanks

Hittfeld

Hittfeld,

The platforms I have it on are FXDD and FXOpen, both (currently) +2 brokers. During daylight savings they are +3.

In my FMT I'm using:
TradingHour=15
TradingMinute=45

So as I understand it, the bot decides at the conclusion of the 15:30 bar whether conditions permit the trade at 15:45, which seems to be born out today in that the 15:30 bar closed at .9950 and the bot made the trade on the 15:45 bar and I got a short entry of .9952.

Somebody comment if I'm wrong on that.

In my backtests, when determining optimal time to trade the USDCHF, I simply optimized the hour and minute settings. For TradingHour the Start value was 1, the Step was 1, and the Stop was 23. For TradingMinute the Start value was 0, the Step was 15, and the Stop was 45. This returns an optimal value of 15:45 for the trade time, with a 2.13 profit factor and 5.34% drawdown.

The second most profitable time settings over the same period was 16:15, which produced a $270 profit (versus $425 at 15:45), with a profit factor of 1.67 and a drawdown of 7.37%. Nothing else came close in my backtest. It seems 15:45 is the sweet spot if wanting to trade the USDCHF. It produced the lowest drawdown and highest profit over the time tested, 1/1/10 - 11/23/10.

Regards

 

[tkbieber]

tk, is the Extended EA not your improvement of FMT ?

I see nothing wrong with improving the FMT. EA for your own use, but to sell it, well I think that is not right ?...

Anyways this is the FMT thread, maybe you should start your own journal thread for your Extended EA ..?..

cheers !..

Yes, I am going to not post results here any more. Anyone who is interested they can go back and read and they will know where to find it. My forum is open to talking freely.

 

[Baldeaglebloke]

In lieu of last night's trade, I retested from Jan through today. I have adjusted the settings. These settings would have got me 2216 pips so far this year.

But this is looking back and saying if I'd done this and if I'd done that I'd be a squillionaire by now. The markets evolve so would you actually have had those settings on 1/1/10 - I doubt it. Although I do acknowledge the tweaks you've made to FMT is producing you short term results

 

[mark_wilson]

tk, is the Extended EA not your improvement of FMT ?

I see nothing wrong with improving the FMT. EA for your own use, but to sell it, well I think that is not right ?...

Anyways this is the FMT thread, maybe you should start your own journal thread for your Extended EA ..?..

cheers !..

What's it going to take to put this to bed? Is anyone progressing as a trader as we expand on ideas to increase profitability? Can logic be copyrighted? If the fast moving average is under the slow moving average, and the stochastic is above the 70 level, and the EA takes a short, can that be copyrighted???

Well, what if someone comes along and adds a MACD indication to the equation? The first one didn't factor in MACD. Don't buy the one without the MACD if you want the one WITH the MACD. Buy the "enhanced" one with the MACD.

If one determines entry at the close of one bar, and the other looks for entry over several bars, I can't have the one without the other IF I want the robot to have the ability to do BOTH. In other words, if you want a robot that determines entry on one bar, buy FMT. If you want a robot that allows entry over a several-bar period, buy FMT Extended. If you want both, BUY BOTH. What difference does it make if Travis had "named" it something altogether different. He hasn't hidden anything as this thing has developed. And if he had named it London Forex Rush Extended, the concept (logic) would have been the same, but the guy at that sight would have also probably tried to say that his strategy was to trade at the open of the London market. And if he had named it "Ye-Ole London Breakout Strategy Robot," no doubt we'd be having the same conversation. But he hasn't gone around anybody's back the whole time this has developed and has been upfront about its creation (and I only know of Travis what can be gleaned from reading this entire thread).

Earlier in this thread I had asked Travis exactly about that; what is the difference in your EA as compared with opening SEVERAL instances of Mark's EA to accomplish the same thing. So I was attempting to use my logic to deduce a thing, and Travis kindly answered.

Why should Travis not enjoy the fruit of his labor any more than Mark enjoy the fruit of his? If Mark's had the ability to scan several bars for a trade then Travis wouldn't have deduced what he did and "enhance" (if you will---some may say it's not an enhancement) the logic to trade over several bars.

And which one of them is the most unhappy with me, since I've purchased BOTH of them?

Sorry to ramble on so long. Nothing personal hammy66, just a post to latch my thoughts about this situation to. :|

I'm waiting for someone to tell me this thread isn't about the USDCHF, go create my own thread. But I'm not saying the bot should unequivocally trade the USDCHF.... Just looking at the possibilities.

 

[peter5433]

OK to openly promote an alternative EA to Marks original is not acceptable on the same thread so hopefully this will stop. Any variation to Marks system should also be discussed on a separate thread. This is for those traders who have purchased Marks system and are trading it according to the rules, so that we can compare results, and hopefully prosper together longer term. It always amazes me how quickly these threads go off topic, and then traders wonder why they aren't achieving the same results. Similarly those which make short term adjustments think they've made the system even better, only to discover that the original is is fact better longer term..

 

[tkbieber]

OK to openly promote an alternative EA to Marks original is not acceptable on the same thread so hopefully this will stop. Any variation to Marks system should also be discussed on a separate thread. This is for those traders who have purchased Marks system and are trading it according to the rules, so that we can compare results, and hopefully prosper together longer term. It always amazes me how quickly these threads go off topic, and then traders wonder why they aren't achieving the same results. Similarly those which make short term adjustments think they've made the system even better, only to discover that the original is is fact better longer term..

:smart: Like I said before, it's just my PERSONAL preference and I have reasons for them but like anyone, you are welcome to set a TP of 100 and a SL of 300 if you wish.
Yes, let get back on "track" and talk FMT. All talk of Extended is HERE now.

The end.

 

[pseudo straddle]

******************************************************************************************************************
As tomorrow, the 25th, is Thanksgiving Day in the US, do we have a day off from trading? *******************************************************************************************************************

:?:

 

[mark_wilson]

Oh so many thought police.... Telling us which thoughts can be expressed on which threads. Why not we do this; if a post doesn't interest you, move to the next one.

Only problem is, each thought policeman has his own ideas which thoughts can be expressed on which threads. Am I an interloper here for daring to introduce the thought that the USDCHF can possibly be traded with these robots??? For throwing that out for consideration?

It may be shot down and proven wrong but which thought policeman is harboring resentment that I even brought it up? Both EA's are attempting to do the same thing; capitalize on breakouts which historically happen about the same time each day (or, as the title of the EA implies, during somebody's Morning). It isn't rocket scientry.

So why do some feel compelled to run one guy off? I'm fully mature enough to hear both guys and make up my own mind. And by my actions I've put my money where my mouth is, purchasing both EA's. And if it happens to be a combination of the two leads to heightened profitability, who's harmed along the way?

 

[Deatil]

OK to openly promote an alternative EA to Marks original is not acceptable on the same thread so hopefully this will stop. Any variation to Marks system should also be discussed on a separate thread. This is for those traders who have purchased Marks system and are trading it according to the rules, so that we can compare results, and hopefully prosper together longer term. It always amazes me how quickly these threads go off topic, and then traders wonder why they aren't achieving the same results. Similarly those which make short term adjustments think they've made the system even better, only to discover that the original is is fact better longer term..

Your joking me right? you mean that you are going to come here and post your trade entry as per the rules that Mark made, and so are the other who actually believe this?

What is the purpose? so each of you are going to come here and post the same entry ,same exit, same profit?

So if you followed the rules of the FMT, there will be NO posting or talk of testing new backtest results setting, any different pairs , or any other finding, if this is what this thread is to be reduce too some of you really need to wake up and smell the coffee.

And let me throw out this question, If the FIRST FMT setting were correct and were back tested to 2007 by Mark, then why have they been changed 2 times already in the last 6 months?

Could it be that some here found better setting and caused Mark's to take other look at his own setting. It would seem to be the fact, since when he released the FMT this was already deemed to be set to the best setting Mark came up with.

Really stop and think about what has changed in the last 6 months nothing , we still have the bad news we had during the Banking crisis. I think this thread has open up better settings and tested different pairs with good results, and you want to stop that, GET REAL NEVER GOING TO HAPPEN!!

 

[tkbieber]

Your joking me right? you mean that you are going to come here and post your trade entry as per the rules that Mark made, and so are the other who actually believe this?

What is the purpose? so each of you are going to come here and post the same entry ,same exit, same profit?

So if you followed the rules of the FMT, there will be NO posting or talk of testing new backtest results setting, any different pairs , or any other finding, if this is what this thread is to be reduce too some of you really need to wake up and smell the coffee.

And let me throw out this question, If the FIRST FMT setting were correct and were back tested to 2007 by Mark, then why have they been changed 2 times already in the last 6 months?

Could it be that some here found better setting and caused Mark's to take other look at his own setting. It would seem to be the fact, since when he released the FMT this was already deemed to be set to the best setting Mark came up with.

Really stop and think about what has changed in the last 6 months nothing , we still have the bad news we had during the Banking crisis. I think this thread has open up better settings and tested different pairs with good results, and you want to stop that, GET REAL NEVER GOING TO HAPPEN!!

Like all of us, I think if we find a better way for more pips, that's the goal, right? Change is inevitable.