ForexMorningTrade System

[Remraf]

Hi,

I've just started running a Demo account with ThinkForex with the standard EA FMT settings, can someone with more experience than I've got, advise if I can load up more than one FMT EA with the different settings people are using without conflict, especially if they all start at 6.30am - or can I only use one EA on each account?

 

[Wagtail]

Hello backtesters,

Sorry about this newbie question. But can you test reliably test FMT taking into account that the during the year the summer time and winter time is not the same, and so the GMT offset is different in winter or summer when one wants to refer to 6:30 to start trading ?

I've backtested FMT but I always wondered about this with FMT if the correct GMT offset was guaranteed always throughout the whole backtest.
Thanks
LO

As I see it, it depends if the broker changes the server time at the same time as the clocks change. If so, it makes no difference. However, if the broker stays on gmt all year round, then this would mean the start time would need adjusting during backtesting for summer and winter time.

 

[Wagtail]

Hi,

I've just started running a Demo account with ThinkForex with the standard EA FMT settings, can someone with more experience than I've got, advise if I can load up more than one FMT EA with the different settings people are using without conflict, especially if they all start at 6.30am - or can I only use one EA on each account?

I'm pretty sure you can use the ea at different settings on the same account, attached to different charts, but I think you need to change the magic number so that is different on each one.

 

[deserteagle]

@poppygirl
Thanks. Set is 65SL, 43TP and 20BE, fixed at 6:30.

@michaelhryu
My backtest was from January to November, but I wish to include last months as soon as possible.

@trader578
Thanks for sharing that info! I will test it.

@lvelho
Yes, summer/winter time is considered.

 

[RedGuerrilla]

Stats for 02-04-2011



'Live' Accounts:

FMT 4.2, FXSolutions, dealing desk, Long/Break Even, 1.6143, 1.6143, 0.0 pips
My stats since 11-08-2010: 14 No Trades, 17 Break Evens, 17 Losses, 16 Profits, Total: -141.0 pips
Pips include slippage, using EA standard settings: 40 SL, 20 BE, 35 TP

FMT 4.2, IBFX, non-dealing desk, Sell/Profit, 1.61392, 1.61042, +35.0 pips
My stats since 01-04-2010: 7 No Trades, 6 Break Evens, 5 Loss, 6 Profits, Total: +0.05 pips (Corrected)
Pips include slippage, using EA standard settings: 40 SL, 20 BE, 35 TP



Demo Accounts:

FMT 4.2, non-dealing desk brokers, 5:Sell/Profit
PFG Best, 1.61394, 1.61040, +35.4
FOREX.com, 1.61380, 1.61025, +35.5
FXCM, 1.61396, 1.61041, +35.5
Alpari(US), 1.61395, 1.61042, +35.3
FXDD, 1.61386, 1.61021, +36.5



Testing new tweaked settings, based on back testing. For more details, see Post #5659, page 708:

FMT 4.2 EA, GBPUSD M15 Chart, UK time zone.
Using PFG Best Demo Account, Settings: SL=40, TP=30, BE=20, BE+5 pips
6:15 start, no trade, 0.0 pips ... :-|
My stats since 01-20-2011: Total: +64.9 pips



Testing other systems, subject to back testing.
Lost my back testing system, and I don't have time right now to get it back.

FMT 4.2 EA, GBPUSD M15 Chart, UK time zone.
Using PFG Best Demo Account, Settings: SL=40, TP=30, BE=20, BE+5 pips
13:15 start, sell trade, 1.60886, 1.61313, hit SL= -42.7 pips ... :-(
My stats since 02-01-2011: Total: -53.0 pips

FMT 4.2 EA, EURUSD M15 Chart, UK time zone.
Using PFG Best Demo Account, Settings: SL=40, TP=30, BE=20, BE+5 pips
13:15 start, sell trade, 1.36839, 1.36718, hit SL= -42.7 pips ... :-(
My stats since 02-01-2011: Total: +25.1 pips





Stats for 02-06-2011



FMT 4.2 EA, EURUSD/USDCHF M15 Chart, UK time zone.
Using PFG Best Demo Account, Settings: SL=20, TP=7, BE=0
23:00 start, EURUSD, 1.35671, 1.35871, hit SL= -20.0 pips
23:00 start, USDCHF no trade, 0.0 pips
Total for both trades: -20.0 pips ...
My stats since 02-03-2011: Total: +2.85 pips

 

[Tenapenny]

It's a bit quiet here today, but at least we'll get b/e and hopefully profit.

 

[Flourish]

+30 pips for GU today for me.

 

[wiseambitions]

out for 30 pips

Good luck for all others, it's nice to start the week on a win

72 wins in the last 100 trades at 28TP/40 SL Net gain 896
30 wins in the last 50

 

[deserteagle]

out for 30 pips

Good luck for all others, it's nice to start the week on a win

72 wins in the last 100 trades at 28TP/40 SL Net gain 896
30 wins in the last 50

Good for you!
I'm still in and suppose Tenapenny also, looking for +43 as usual.

I have done some backtests during the weekend, I will comment it later.

Regards

 

[Tenapenny]

Good for you!
I'm still in and suppose Tenapenny also, looking for +43 as usual.

I have done some backtests during the weekend, I will comment it later.

Regards

Yes, +43. Nice surprise waiting, as I've just got back from the school run.

 

[Pavil]

Problems with broker connection, otherwise 35 profit.
Entry: 1,61350 (not EA)
TP: 1,61696

Greetings

 

[catfish911]

Got +30 on a buy today on Alpari UK, nice start to the week and eight consecutive wins for me since 27-Jan. 114 pips up now from start of this year, last week made up for the shaky Jan-11 start. Funny, although January seemed horrific trading live at the time, the month closed for me at -36 pips which in hindsight is not exactly a cataclysmic drawdown. With FMT you have to keep the faith sometimes and keep placing those trades according to the rules, and have trust it will climb out. Good luck all

 

[deserteagle]

Yes, +43. Nice surprise waiting, as I've just got back from the school run.

It's nice to see how the price got +46, paid our 43TP, and then return to BE.
The setting did it well

 

[Tenapenny]

It's nice to see how the price got +46, paid our 43TP, and then return to BE.
The setting did it well

Yes, these settings are doing well, I just hope it carries on. Didn't trade 1st week of January but since then I've had 9 wins with 1 loss netting +322 pips.

 

[FarhanZS]

Yes, these settings are doing well, I just hope it carries on. Didn't trade 1st week of January but since then I've had 9 wins with 1 loss netting +322 pips.

Hi Tenapenny, are you trading live/demo, your results are good for sure, which broker you are dealing with

Thanks & Regards

 

[jshear]

Strange I did not get an entry today?? I am using Alpari UK 7:30 is my time setting is this correct for GMT +1?


Thanks


Jeff

 

[jrcollins2009]

to deserteagle:

Have you backtested with and without the breakeven add-on of 5 pips? Which is better?

 

[hammy66]

FMT for me today:

6:00 start, buy trade hit TP +20 pips
6:15 start, buy trade hit TP +25 pips
6:30 start, buy trade hit TP +30 pips
6:45 start, buy trade hit TP +25 pips

total today +100 pips profit...

 

[hammy66]

Strange I did not get an entry today?? I am using Alpari UK 7:30 is my time setting is this correct for GMT +1?


Thanks


Jeff

Jeff, check your journal, my AlpariUK demo account had a disconnect around the time FMT should take trade, and didn't reconnect for an hour later.

 

[jshear]

Jeff, check your journal, my AlpariUK demo account had a disconnect around the time FMT should take trade, and didn't reconnect for an hour later.

Yes Hammy your are correct missed the trade today due to that.

Jeff