ForexMorningTrade System

[Remraf]

Leaving aside the big banks I wonder what is the biggest stake of any private trader??

My broker would limit me to 200 lots per trade, which would be for $2000 per pip
Maybe he could still cope with segmented trades of the same size separated by a little distance in time

I'd be happy chappy if the only problem I had was an account of a size that needed me to work out how I could place trades with brokers at $2000/pip!!!

PS - best tell the broker you've just come in to some money, you've never traded before, but seemed like a good idea - rather than you've made your fortune with FMT fleecing brokers!:smart:

 

[wiseambitions]

I'd be happy chappy if the only problem I had was an account of a size that needed me to work out how I could place trades with brokers at $2000/pip!!!

PS - best tell the broker you've just come in to some money, you've never traded before, but seemed like a good idea - rather than you've made your fortune with FMT fleecing brokers!:smart:

All joking aside, 6.30 in the morning is not a time of day with most liquidity in the markets. I tried occasionally to place 25 lots (250 micro lots) on an instant order at such times and a message came up on my platform to wait while the broker went round the market. The system then offered me a price for a few seconds to accept or decline a trade. It has never happened with smaller stakes, nor with orders at a given price which either get filled or don't.

I have never thought the gains we might obtain are fleeced from brokers. It's up to them if they play against us, although those that don't pass all trades over to the world markets probably work on the casino principle. i.e. that the punter is most likely to lose. Therefore serves them right if we are wiser than they!

 

[Remraf]

All joking aside, 6.30 in the morning is not a time of day with most liquidity in the markets. I tried occasionally to place 25 lots (250 micro lots) on an instant order at such times and a message came up on my platform to wait while the broker went round the market. The system then offered me a price for a few seconds to accept or decline a trade. It has never happened with smaller stakes, nor with orders at a given price which either get filled or don't.

I have never thought the gains we might obtain are fleeced from brokers. It's up to them if they play against us, although those that don't pass all trades over to the world markets probably work on the casino principle. i.e. that the punter is most likely to lose. Therefore serves them right if we are wiser than they!

Wise, serious point noted about liquidity at 6.30am for larger trades, presumably at that stage you'd need a number of brokers? - was trying to convey wishful humour, rather than being flippant - no offence intended

On another point, it's interesting to not forget the big picture and market sentiment shown through the daily chart, currently the market is stuck at a major support level of 1.6000 with reducing volatility (ATR), the last 2 days has only seen small variations between the O/C price, clearly the market has yet to decide which it's going to go. I closed my open SHORT position today that I had chased down from 1.6400 until the market decides what to do, if it makes no positive direction, it could go sideways for a while with reducing volatility, that may then impact on how productive FMT is in the coming days/weeks - just another angle to be aware of.

 

[Remraf]

Leaving aside the big banks I wonder what is the biggest stake of any private trader??

My broker would limit me to 200 lots per trade, which would be for $2000 per pip
Maybe he could still cope with segmented trades of the same size separated by a little distance in time

I went to an IG seminar a couple of weeks ago and David Jones said one of their larger clients had a £3 million account and made £1m profit last year! - so that would have been serious £/pips, regardless of what he was trading

 

[wiseambitions]

I went to an IG seminar a couple of weeks ago and David Jones said one of their larger clients had a £3 million account and made £1m profit last year! - so that would have been serious £/pips, regardless of what he was trading

There was no need to beg my pardon, you hadn't offended in the slightest

£1million profit on a £3million account doesn't seem all that good to me. If the guy followed FMT and compounded it even at small risk eg 2% he could have doubled his money, not just made 33 per cent. Or even if he didn't compound it I think a look at the FMT results page would show he could have done better.

Or doesnt ANYONE do as well as the results suggest? Emotions, breakdown in the IT, and other reasons seem to diminish the returns.

But never mind, these brokers like IG Index know how punters make a small fortune. They start with a large fortune and make a lot of mistakes! And the broker is of course the only certain winner

 

[wiseambitions]

....the last 2 days has only seen small variations between the O/C price, clearly the market has yet to decide which it's going to go. I closed my open SHORT position today that I had chased down from 1.6400 until the market decides what to do, if it makes no positive direction, it could go sideways for a while with reducing volatility, that may then impact on how productive FMT is in the coming days/weeks - just another angle to be aware of.

Anyone who shorted the market at 1.64 caught it very lucky. However most of us would just be day traders, the next thing up from scalpers, if we trade the FMT system. We are not much concerned about long term trends and all we need worry about is what the indicators, which we find to be right more often than not, say at 06.30 in the UK morning, and hope for a profitable outcome within an hour or two at the most.

 

[PipZombie]

I got burnt again with Oanda. I'm changing my settings to 33 18 38.

My suggestion is to keep it the same..else you will end up with a setting of 00 00 00. I have 86 live trades under my belt. My statement shows 69.77 win rate. I am using standard settings. I have 78% gain on the account using 4% risk per trade. I hope this helps.

 

[PipZombie]

Leaving aside the big banks I wonder what is the biggest stake of any private trader??

My broker would limit me to 200 lots per trade, which would be for $2000 per pip
Maybe he could still cope with segmented trades of the same size separated by a little distance in time

divide up your accounts with the same and different brokers and you will not have a problem.

 

[catfish911]

ditto BE + commission for ecn broker.

day 2 since going live.

Anyone use cashbackforex? They supposedly refund you pips or commissions for each trade.

Hi,
Yes I use cashbackforex, I setup my Alpari UK account through them, very easy and they always send the cash rebate to my paypal account promptly. Not exactly loads of money, but a nice bit of cash for doing absolutely nothing. Planning to get a netbook with the next rebate. As Wise says, this time next year (Rodney) we'll be at the FMT Millioniares meeting, so the rebate will be used for a few bottles of vintage Bollie... ;-)

 

[catfish911]

Guys when you do these quick backtests do you allow for the daylight saving adjustments too?

Hi,

Yes I live in London so I just look bleary eyed at the clock, if it says 6:30 I know I'm in the FMT zone...!! My model is not using MT4 and is accurate only over a certain range, so take the results as an approximation, but I don't think they would be far off. Also assumes no BE setting.

 

[uberpips]

My suggestion is to keep it the same..else you will end up with a setting of 00 00 00. I have 86 live trades under my belt. My statement shows 69.77 win rate. I am using standard settings. I have 78% gain on the account using 4% risk per trade. I hope this helps.

Thanks for the advice PipZombie. Are you with Oanda?

 

[biggreycat]

My suggestion is to keep it the same..else you will end up with a setting of 00 00 00. I have 86 live trades under my belt. My statement shows 69.77 win rate. I am using standard settings. I have 78% gain on the account using 4% risk per trade. I hope this helps.

hi pipzombie

thanks for sharing that, gives us hope this is the real deal.
of cos my next question is, which standard settings? is it the current one - 40/35/20/0 ?
do you count in BEs as part of your win rate?
when did you start trading? With 86 live trades i reckon you started around Nov/Dec - did you trade through Dec?
what's yr biggest DD like with 4% per trade?

biggreycat

 

[Lady Forex]

I will not trade after the second week of Dec. and will resume approximately the second week of Jan.

 

[RedGuerrilla]

Stats for 03-29-2011



Live Accounts:

FMT 4.3, EA standard settings: 40 SL, 20 BE, 35 TP
6:30 UK Time, FXSolutions..., Long/Loss, -40.0, Stats since 11-08-2010: Total= +104.0
6:30 UK Time, IBFX.........., Long/Loss, -40.5, Stats since 01-04-2011: Total= +307.1
6:30 UK Time, PFG Best......, Long/Loss, -41.0, Stats since 03-01-2011: Total= +118.8



Demo Accounts:

FMT 4.3, EA standard settings: 40 SL, 20 BE, 35 TP
6:30 UK Time, PFG Best......, Server Down......., 0.0, Stats since 02-01-2011: Total= +429.2
6:30 UK Time, FXCM.........., Long/Loss........., -40.7, Stats since 02-01-2011: Total= +426.5
6:30 UK Time, Alpari(US)...., Long/Break Even..., 0.0, Stats since 02-01-2011: Total= +422.9
6:30 UK Time, FXDD.........., Long/Loss........., -40.3, Stats since 02-01-2011: Total= +311.4



Notes:

All pip totals include slippage
FXSolutions is the only dealing desk broker

 

[podberry]

Morning all - Looks like we are in for a no trade

 

[podberry]

Long Oanda - By the skin of our teeth

 

[andybissell]

Ye I got long @ 1.6004....bought the system yesterday, mostly what I expected but I had to know the signal!!

Got a feeling this one might hurt....

 

[michaelsa]

Goodmorning All,

For those who are interested-

I have been trading FMT (FXDD Live EA) since the 7th February 2011, I use the standard settings (TP35, SL40, BE20). It is a relatively small account and I am being quite aggressive in my MM, risking between 5%-8% per trade.

My results so far, % gain from start balance at 7th Feb 2011
Week 1- 4.95%
Week 2 -12.80%
Week 3- 26.15%
Week 4- 37.49%
Week 5- 22.95%
Week 6- 46.17%
Week 7- 69.70%

FMT works

M

PS Long today

 

[felixmsr]

Goodmorning All,

For those who are interested-

I have been trading FMT (FXDD Live EA) since the 7th February 2011, I use the standard settings (TP35, SL40, BE20). It is a relatively small account and I am being quite aggressive in my MM, risking between 5%-8% per trade.

My results so far, % gain from start balance at 7th Feb 2011
Week 1- 4.95%
Week 2 -12.80%
Week 3- 26.15%
Week 4- 37.49%
Week 5- 22.95%
Week 6- 46.17%
Week 7- 69.70%

FMT works

M

PS Long today

Yes, FMT does work very well, we just have to remember that there are some losing trades as well and not panic when they occur and keep stay with system!

 

[podberry]

Goodmorning All,

For those who are interested-

I have been trading FMT (FXDD Live EA) since the 7th February 2011, I use the standard settings (TP35, SL40, BE20). It is a relatively small account and I am being quite aggressive in my MM, risking between 5%-8% per trade.

My results so far, % gain from start balance at 7th Feb 2011
Week 1- 4.95%
Week 2 -12.80%
Week 3- 26.15%
Week 4- 37.49%
Week 5- 22.95%
Week 6- 46.17%
Week 7- 69.70%

FMT works

M

PS Long today

You carry on like that m I will be coming for a loan