ForexMorningTrade System

ihelfman said:
Coin flip tomorrow morning at 2:00am EST red alert with Nationwide HPI -- housing prices.
Click to expand...

dailyfx.com rates this news as medium impact.
Personally, I believe FMT is a technical trading system that assumes that fundamental news is priced into the chart before it is even released. For that reason, I believe it is safe to trade FMT through any medium or high impact news. :cool:
 
Just another thought, is it reasonable to go with 35/35 SL / BE, instead of 40, but without using the SL? Or won't this make much difference?
 
Hi there

First time I have used an EA and I seem to be having a drama with the EA on FMT.
It seems to keep reseting the values on itself i.e when I set lot size to say 0.5 it then resets to default 0.1 and also when I set the trading hour to 8 it resets itself back to 7 any advice would be great,
Also today on FXDD the ideal entry price would of been 1.5576 but due to the spread the of 4 pips the buy price was never at this so if I did not enter manually I would of missed this trade is there anyway of changing so the EA takes into account the spread?
 
phn73 said:
Just another thought, is it reasonable to go with 35/35 SL / BE, instead of 40, but without using the SL? Or won't this make much difference?
Click to expand...

According to backtest result, there was a significant difference between SL35 and SL40. As GBP/USD is a volatile pair, it needs room to breathe, I believe. The deeper, the better.
 
LEEDAMIANS said:
Hi there

First time I have used an EA and I seem to be having a drama with the EA on FMT.
It seems to keep reseting the values on itself i.e when I set lot size to say 0.5 it then resets to default 0.1 and also when I set the trading hour to 8 it resets itself back to 7 any advice would be great,
Also today on FXDD the ideal entry price would of been 1.5576 but due to the spread the of 4 pips the buy price was never at this so if I did not enter manually I would of missed this trade is there anyway of changing so the EA takes into account the spread?
Click to expand...

Once you have your settinsgs set the way you want, you need to make sure you click "OK" before you exit so your setting are kept. Each time you load the EA you will have to change your settings.
 
PipZombie said:
Once you have your settinsgs set the way you want, you need to make sure you click "OK" before you exit so your setting are kept. Each time you load the EA you will have to change your settings.
Click to expand...

Many thanks for the reply Pipzombie
I thought there was something I was doing:innocent:
I will remember that from now on also do you know how to allow for the spread with the EA?
 
LEEDAMIANS said:
Many thanks for the reply Pipzombie
I thought there was something I was doing:innocent:
I will remember that from now on also do you know how to allow for the spread with the EA?
Click to expand...

There is nothing to do for the spread. The EA enters on a market order, simply once the spread is covered you are into profit.
 
fluegel said:
According to backtest result, there was a significant difference between SL35 and SL40. As GBP/USD is a volatile pair, it needs room to breathe, I believe. The deeper, the better.
Click to expand...

Well... the breathing is definitely heavy this morning! I do hope it goes the right way for us all to start the new month off with a win. And for the benefit of readers in other climes we have had an early start to winter in the UK with snow all over the place an record cold temperatures
 
I like the nice spike low on yesterday's daily candle, potentially signalling a reversal to the recent downtrend. :)
 
trader578 said:
I like the nice spike low on yesterday's daily candle, potentially signalling a reversal to the recent downtrend. :)
Click to expand...

You would be better off looking at the Daily Candle Close formation for a better signal.

Having said that yesterdays Daily Close was a Bullish Hammer which either is signaling a upside reversal or a bounce from this recent down trend we have been in other the last week or so.
 
Deatil said:
You would be better off looking at the Daily Candle Close formation for a better signal.

Having said that yesterdays Daily Close was a Bullish Hammer which either is signaling a upside reversal or a bounce from this recent down trend we have been in other the last week or so.
Click to expand...

Deatil,
It is just semantics. Some people call it a bullish hammer, but I prefer to call it a spike low because I think it is more descriptive. The important thing is that yesterday's daily candle was reversal signal.
Cheers
 
Last edited:
If I were resetting SL to BE the conditions would have been triggered a few minutes ago

EAs would do that automatically of course
 
Hi There,

Anybody using a combination of Break Even & Trailing Stop ? Does it helps puting them together, which one will be hit first BE or TS ?

Cheers
 
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