bluedancer
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Latintrader72
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-40 pips fxcm, alpari uk, fxopen, tadawulfx
wiseambitions
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Yes there's no denying today was a loss, and B/E wasn't activated. For those at 40SL, even I would believe those at 60 or 65 if they entered the trade at 6.30GMT.
Let's hope for the normal success of FMT to be restored when we get into 2011
Let's hope for the normal success of FMT to be restored when we get into 2011
bluedancer
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Quote:
Originally Posted by bluedancer
sometimes fmt just does not work as there does have to be enough push to continue the trade. now a different trade system should be in place to take a new trade, so why not use a different trade system to exit the fmt trade?
Today for example, I stayed out of the buy because of a few reasons which are more subjective, but mostly due to my wave counting. However I have one additional indicator the HTID which I use to help me decide is this a good trade or not. Typically when this lines up with fmt, the trade is a success; even though it does re-write after the fact it still helps. The last entry for this trade with FMT rules came on the 11:00 candle, 4.5 hrs after FMT to enter a sell at 11:15 at 1.5611. Given the strong sideways market, and the CCI bouncing above and below 0 for such a while, another indicator was needed to determine direction. That was also the final true break on the 11:15 candle. A sell entry could have been taken on the 11:30 open candle. Along with FMT, I find these 2 other indicators to be the most helpful. and yes I consider the breaking of support or resistance to be an indicator.
Ok with other trade systems that I use, one major rule to exit a trade is if all indicators line up for the opposite trade. So then you close whatever is open and/or take an opposite trade.
Originally Posted by bluedancer
sometimes fmt just does not work as there does have to be enough push to continue the trade. now a different trade system should be in place to take a new trade, so why not use a different trade system to exit the fmt trade?
Today for example, I stayed out of the buy because of a few reasons which are more subjective, but mostly due to my wave counting. However I have one additional indicator the HTID which I use to help me decide is this a good trade or not. Typically when this lines up with fmt, the trade is a success; even though it does re-write after the fact it still helps. The last entry for this trade with FMT rules came on the 11:00 candle, 4.5 hrs after FMT to enter a sell at 11:15 at 1.5611. Given the strong sideways market, and the CCI bouncing above and below 0 for such a while, another indicator was needed to determine direction. That was also the final true break on the 11:15 candle. A sell entry could have been taken on the 11:30 open candle. Along with FMT, I find these 2 other indicators to be the most helpful. and yes I consider the breaking of support or resistance to be an indicator.
Ok with other trade systems that I use, one major rule to exit a trade is if all indicators line up for the opposite trade. So then you close whatever is open and/or take an opposite trade.
Adamus
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I prefer to read the entrails of fish. Today it told me it stinks.
I am tempted to backtest the timed exit scenario. If there is a clear optimal time that the FMT trade should be given, I wonder how much it would enhance profits. IMHO I think a timed exit won't help though. Maybe Mark Fric tested it already.
I am tempted to backtest the timed exit scenario. If there is a clear optimal time that the FMT trade should be given, I wonder how much it would enhance profits. IMHO I think a timed exit won't help though. Maybe Mark Fric tested it already.
Take a look at Mark's journal history ...:smart:
Why are people still trading FMT in this market ?
We have had nice profits with FMT right up to mid December, but to try and squeeze anymore from this system in these market conditions is risky and frankly very greedy, it could cost you instead !
Cool it for a couple or 3 weeks !! (in my humble opinion)
We have had nice profits with FMT right up to mid December, but to try and squeeze anymore from this system in these market conditions is risky and frankly very greedy, it could cost you instead !
Cool it for a couple or 3 weeks !! (in my humble opinion)
pseudo straddle
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I'm puzzled - according to Alpari UK demo, one indicator was above the line and the other was below, so why were people going long?
I would agree. I've been trading on demo all week and the results have not been as good as during the rest of the year. I'll keep my Live account safe until January.
Sandy
deserteagle
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I'm puzzled - according to Alpari UK demo, one indicator was above the line and the other was below, so why were people going long?
I'm with Alpari UK also and ea 4,1, today was long signal.
Today was a -65 pips
but I'm quite happy with this configuration, I got 153 pips during the last 4 weeks against the 11 pips I would got by using the standard configuration.I'm closing the trading till January 10th.
Have a nice weekend, christmas, new year for everybody.
arty: :cheers: :drunk:
Last edited:
RedGuerrilla
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12-17-2010
FMT 4.1
Loss
-40 pips
Total: +29 pips - since 11-08-2010
Stats: 8 BE, 6 No Trades, 9 Profits, 7 Losses
Broker: FXSolutions - 4 decimal point price charts
and fixed spreads, Live Account
Settings: 40 SL, 20 BE, 35 TP
One of its biggest strengths is that the system is 100% mechanical, with clear rules to follow. This is especially important. There will be no more fear or greed in your trading because the indicators clearly show you the entries and exits for you! That means you just need to follow the indicator signals and shrug off the trading stress. - from Mark's FMT website
FMT 4.1
Loss
-40 pips
Total: +29 pips - since 11-08-2010
Stats: 8 BE, 6 No Trades, 9 Profits, 7 Losses
Broker: FXSolutions - 4 decimal point price charts
and fixed spreads, Live Account
Settings: 40 SL, 20 BE, 35 TP
One of its biggest strengths is that the system is 100% mechanical, with clear rules to follow. This is especially important. There will be no more fear or greed in your trading because the indicators clearly show you the entries and exits for you! That means you just need to follow the indicator signals and shrug off the trading stress. - from Mark's FMT website
I am with you hammy. I look for 4 net wins(winners-losers) per month...We had a great start to the month December with 4 wins and 1 loss. I traded up through 12/14 and had 3 net wins for december with the 15th, 16th and 17th left for the week, I deceided that 3 in the hand was better than 4 in the bush so I hung it up. I trade fulltime for a living now an made 75% of my monthly income goal as of th 14h. I am taking the next three weeks off from FMT. I will let the demo account run so that I can see how it performs compared to Mark's results. I will trade my manual trading system all of december. My trading plan was to trade through the 16th and quit until after the first of the year and resume FMT but made a decision to stop on the 14th and not risk my profits.
You, sir, are a star. I've never seen it put so cleanly. If we dont' have trading targets we will eventually drive our profits off a cliff. I made the mistake of trading yesterday for a hefty -40 loss, when I had already met my personal target. 4 net wins is achievable and valid.
