ForexMorningTrade System

[Euro_d]

It seems to me that everybody is using some different settings. For example many today are +10 or +30. Anybody with standard setting of 35/40/20BE trading today?

You should have received an email from Mark modifying those settings, if not contact him to get you back on th emailing list, or browse the thread a few day back as someone posted teh new settings from the email

 

[jimpees]

It seems to me that everybody is using some different settings. For example many today are +10 or +30. Anybody with standard setting of 35/40/20BE trading today?

hey, yeah i'm still running a live account with original settings, came out BE+5 today.

and i wouldnt risk more than 5% as i dont want to see massive drawdown on my account!

 

[zorba_g]

Yes great couple of days had by all have a great few days off and catch up after the holiday this is a great thread i am going live after Easter .
General question for you all with regard to mm i was thinking of risking 6% per trade do you think that is a bit agressive or not or would 4% be wiser ? all comments welcome
many thanks again

Since it's money that you should be prepared to lose, go for it .

 

[RobM.]

It seems to me that everybody is using some different settings. For example many today are +10 or +30. Anybody with standard setting of 35/40/20BE trading today?

I've got two reasonably sized accounts that I always keep on standard, current FMT settings and never interfere with; they take every win, every be and every hit.

I do have some small, live accounts live-testing various settings. It adds more fun as long as you don't mind losing the lot, which I think is very unlikely.

PS: Current settings are now: 34/45/BE25 +5

 

[Jashfx]

It seems to me that everybody is using some different settings. For example many today are +10 or +30. Anybody with standard setting of 35/40/20BE trading today?

Those are NO longer the Standard settings:

Std settings now are:
Start time 06:15 (and not 06:30). It was another B/E trade today for the 06:30 previous std settings.
TP=35, BE=25, B/E add= +5, Sl = 45. Entering today at 06:15 made all the difference between winner and another B/E.
April has seen a lot of moves reach bt 30 and 35 pips so I think quite a few ppl are just happy to take 30 pips. Come May, Im sure most will revert back to suggested 35 TP.

The 10 pips is a scalping strategy that was suggested by somone on this forum a while back. 10/40 with no break even seems to win around 90% of the time.
Wise's fantastic research of this setting has shown that it can be quite profitable so there are quite a few on this forum trading the 10/40 as well as the normal (or should i say recently updated FMT settings)

 

[sunny12]

Thanks Guys For Different Settings. It seems 10 pips is working out a lot.

 

[jonnymac]

Thanks eurod and every one for your comments i think 5% seems sensible enough all the best

 

[Jashfx]

Hey Jashfx

Guess what..........?

SUCCESS!

All worked correctly today on SLM, with DPs set to 2.

Even a win to celebrate.

Thanks for your help working out the whats and whys.

Rob

Good Stuff!!!

Have a great Easter Weekend.

 

[3PO]

Hi, hit TP +35. Cheers, 3PO

 

[Euro_d]

The 10 pips is a scalping strategy that was suggested by somone on this forum a while back. 10/40 with no break even seems to win around 90% of the time.
Wise's fantastic research of this setting has shown that it can be quite profitable so there are quite a few on this forum trading the 10/40 as well as the normal (or should i say recently updated FMT settings)

Hi Jash,
I too use the scalping strategy as well as standard (new) FMT both live.
I wrongly attributed the strategy to Wise, who corrected me in that it was not his.

Perhaps the orininator could post so we can thank him directly:clap:.

However, you are correct in that Wise carried out a great deal of research that prompted me to adopt them so I remain grateful to wise for his hard work.

 

[lumbco]

I will be trading any and all mornings that market is open. FMT doesn't know it is or is not a holiday for anyone. It only knows what the indicators tell it. And if the indicators, which ARE a reflection of current market conditions, say yes no or maybe, then I follow the rules.

Also, I only observe forward testing, and FMT has only been on the market since Sept 2010.

If you feel you need to step back on certain days, then your risk per trade is too high.

Whilst the FMT indicators will still be operating, using the data available to them, surely the point that worries everyone is that the markets will be very thin with but a fraction of the normal volume.

It is therefore possible that the FMT effect will not apply.

Nevertheless, as an experiment I have decided to trade my live account tomorrow Good Friday at half my current risk by cutting the trading lots in half.

At least any losses will be easily made up on normal days.

 

[RobM.]

Today was an enjoyable day!

Full TP on every account, even the naughty ones Euro_d!

A nice feeling when it happens!

Enjoy your weekend, all!

 

[Jashfx]

Hi Jash,
I too use the scalping strategy as well as standard (new) FMT both live.
I wrongly attributed the strategy to Wise, who corrected me in that it was not his.

Perhaps the orininator could post so we can thank him directly:clap:.

However, you are correct in that Wise carried out a great deal of research that prompted me to adopt them so I remain grateful to wise for his hard work.

Yeah -- for the life of me I cannot remember who first came up with it but I concurr would be nice to thank him. I dont like the risk:reward ratio but you cannot ignore the
90+% win ratio.

I too would like to thank wise for his efforts, not just on these settings but on all settings where he regularly places results of past 100 trades.

Now the MILLION DOLLAR QUESTION???? Do we enter at 06:30 where results are proven or do we enter at 06:15 (where its suppose to be a better price).

For now -- I will stick to the 06:30 time for live trading and the 06:15 for demo trading and after say 50 trades see the comparitive results.

 

[davinci79]

TP hit +40 pips

 

[RobM.]

Yeah -- for the life of me I cannot remember who first came up with it but I concurr would be nice to thank him. I dont like the risk:reward ratio but you cannot ignore the
90+% win ratio.

I too would like to thank wise for his efforts, not just on these settings but on all settings where he regularly places results of past 100 trades.

Now the MILLION DOLLAR QUESTION???? Do we enter at 06:30 where results are proven or do we enter at 06:15 (where its suppose to be a better price).

For now -- I will stick to the 06:30 time for live trading and the 06:15 for demo trading and after say 50 trades see the comparitive results.

It's interesting that there seems to be some hesitation to change to the new settings.

I feel it too; as a non-trader, I bought the system to benefit from other's experience, ie Mark's. Now there is a change from the original settings I feel like I'm moving out of a comfort zone.

However, I trust Mark's integrity and for me, if he's happy I am happy. There certainly isn't a 'best set', only, perhaps, a 'good-enough' set.

I think the message from Wiseambitions' video link is timely.

I'd welcome some discussion....

 

[podberry]

Have a great Easter everyone - See you Tuesday next week :drunk::cheers:

 

[Jashfx]

It's interesting that there seems to be some hesitation to change to the new settings.

I feel it too; as a non-trader, I bought the system to benefit from other's experience, ie Mark's. Now there is a change from the original settings I feel like I'm moving out of a comfort zone.

However, I trust Mark's integrity and for me, if he's happy I am happy. There certainly isn't a 'best set', only, perhaps, a 'good-enough' set.

I think the message from Wiseambitions' video link is timely.

I'd welcome some discussion....

Im only talking about the 10/40 strategy where im not sure of time of entry.

The New updated version of FMT(35,45,25,5) -- I have no hesitation to change time of entry.

 

[lumbco]

21st April
All times Alpari UK

Old FMT settings (40,35,20,5) with Hammy66 timings on live Alpari UK account, result today:
07:15 TP
07:30 BE
07:45 TP

Catfish settings (see #7525) with Hammy66 timings on a demo Alpari UK account, result today:
07:15 TP
07:30 TP
07:45 TP

 

[Euro_d]

I dont like the risk:reward ratio but you cannot ignore the
90+% win ratio.



Now the MILLION DOLLAR QUESTION???? Do we enter at 06:30 where results are proven or do we enter at 06:15 (where its suppose to be a better price).

For now -- I will stick to the 06:30 time for live trading and the 06:15 for demo trading and after say 50 trades see the comparitive results.

Ditto re RR ratio, but at 90%+ just got to be worth it!

Like you, I have not changed to the 6-15 start and have an open mind.
Logic says we should, as if FMT is better surely FMT scalping is better.

Would love to hear our friend and Guru WiseAmbitions take on this.

 

[felixmsr]

Good Stuff!!!

Have a great Easter Weekend.

Yea, really good stuff! And have a great Easter, and see you Tuesday for another good week!