ForexMorningTrade System

podberry said:
You are correct, without me divulging to much on a public forum, if both are above the line then it is a Buy and visa versa, one below and one above = No trade.

Hope that helps :)
Click to expand...

There's more to it than that. One of the indis has a maximum value above which it is deemed the market is overbought, and it gives you a No Trade signal. Conversely it has a minimum value below which it is supposed the market is oversold and it won't give you a trade.
However another indicator has no limits, but I believe that if the value is over 200 or under 200 you need to be a bit careful because that can mean you're in a spike which again is a temporary oversold or overbought situation. In my opinion that condition existed for a short time this morning and would have made me question why someone would have traded at 06.45
 
Yeah thats the bit I meant wiseambitions...I've not looked into numbers on different charts yet but will keep 200 in mind. Thanks.
 
Anyone know if money deposited with Alpari US or OANDA is insured or secured in the same manner as the banks?
 
*mutters under breath*...stupid sideways market today... heh.
Managed to get both a Long and Short trade today but ended up both SL without BE triggering. And to think i actually thought this would hedge each other.

6:00 - SELL - SL
6:15 - NT
6:30 - NT
6:45 - LONG - SL
 
wiseambitions said:
Results since 1st January until 12th April. On my forward tests. Others may have observed different profits

FMT 35/40/be@20 +505.
Without BE it would have been +460
Old FMT 40/40 +560
Old FMT + BE @ 20 +520
10/40 + 360
28/40 + 480
Pilot + 520
Desert Eagle + 512
Click to expand...

You know at the end of the day, it seems like it doesnt matter which of the above settings one chooses, as they are all profitable over large number of trades. one might be inclined to favor the best performer for a particular period but who knows really when one period begins and when one ends. i think what's missing from the above is the DD to match to one's tolerance otherwise we'd just end up switching from one setting to the next when the market decides to be unfavorable to your chosen setting in the short term - i'm sure whichever one is chosen, there's going to be periods of self-doubt like where i saw posts late last year wondering if there's something wrong with the EA and taking consecutive losses. :LOL:
 
markfric said:
30th August - NO TRADE for me.

CCI is very little below 0, it is possible that some of you got Long signal because of little difference in broker data. We'll see where it'll go today.
Click to expand...




I ready think some of you are acting like kids , did you know that the both indys are explain by name in great detail and even with pictures by Mark just as ONE example the see the the psot above, at the start of this thread and even screen shots!

Some of you really need to lighten up, you would think soem of you were working for the CIA.Give it a break.Do you really think people coming to this thread are not going to read at least the first few pages?
 
Trading FMT EA on Alpari demo = no trade
Trading FMT EA on SLM demo - sell -40 pips - did anyone else get this result for SLM?

Thanks
 
wiseambitions said:
There's more to it than that. One of the indis has a maximum value above which it is deemed the market is overbought, and it gives you a No Trade signal. Conversely it has a minimum value below which it is supposed the market is oversold and it won't give you a trade.
However another indicator has no limits, but I believe that if the value is over 200 or under 200 you need to be a bit careful because that can mean you're in a spike which again is a temporary oversold or overbought situation. In my opinion that condition existed for a short time this morning and would have made me question why someone would have traded at 06.45
Click to expand...

Yep, 6.45 had reversal written all over it, I let it run on my Demo account through the EA and it hit my 55SL, but didn't trade it live. Day traders would have had a field today as went up and down between a tight defined sideways channel - 30 pips in each change of direction.
 
chilliepowder said:
Trading FMT EA on Alpari demo = no trade
Trading FMT EA on SLM demo - sell -40 pips - did anyone else get this result for SLM?

Thanks
Click to expand...

Check the start time
You would have had a signal to sell at 1.6259, 06:30 SLM broker time.
Start time with SLM is 07:30 broker time
 
Remraf said:
Yep, 6.45 had reversal written all over it, I let it run on my Demo account through the EA and it hit my 55SL, but didn't trade it live. Day traders would have had a field today as went up and down between a tight defined sideways channel - 30 pips in each change of direction.
Click to expand...

I had no choice, I trade with the EA only because at 6:45 London time it is 1:45 am. where I live so manual trading this system is not a good option for me.

cheers !
 
I realize that the Cable is a major pair and we are small players in that market... but at what size trading account do you folks think one could start running into liquidity problems with a big broker? (Alpari, Oanda, etc.)
 
biggreycat said:
You know at the end of the day, it seems like it doesnt matter which of the above settings one chooses, as they are all profitable over large number of trades. one might be inclined to favor the best performer for a particular period but who knows really when one period begins and when one ends. i think what's missing from the above is the DD to match to one's tolerance otherwise we'd just end up switching from one setting to the next when the market decides to be unfavorable to your chosen setting in the short term - i'm sure whichever one is chosen, there's going to be periods of self-doubt like where i saw posts late last year wondering if there's something wrong with the EA and taking consecutive losses. :LOL:
Click to expand...

Yes, I agree with this. It appears that if one would pick a setting and stick with it they would be profitable in the long run. The hard part is discipline and not switching.
 
barebud said:
I realize that the Cable is a major pair and we are small players in that market... but at what size trading account do you folks think one could start running into liquidity problems with a big broker? (Alpari, Oanda, etc.)
Click to expand...

I would like to hear answers to that too. :!:

I remember (prior to finding FMT), I tried trading 20 lots or more (200 microlots) out of hours (let's say 5.00 am) and the platform told me to wait while it asked other brokers for a price. It then gave me offer and bid values and a few seconds to proceed if I accepted them. I don't know how an EA would cope with that situation!
 
Morning all - Looks interesting this morning, been a surge to the upside in the last 3 hours, hope it's not overbought. :eek:
 
uberpips said:
bottom indicator is over 200. concerns?
Click to expand...

Because of the recent upsurge, yes one line is high. But to trade because another compulsory indicator which has inbuilt limits which it is inside would still mean you are going by the recommended rules.
 
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