ForexMorningTrade System

[podberry]

thank you , and I apologize for the delay in responding to this.
I read it yesterday when you first posted it, but got distracted
with other things. I will have a look at babypips.com and take the lessons as you suggest.
I have stuck to 7:15 as the trading time
with the SL at 45, the TP at 35, BE at 25, and BE add pips at 5

the last two trades have been profit of 35 and 5 , so
this is working fine the way it is set up for now.

If I'd had a $10,000 live account, I would have made $400
in the past two days, but a $10,000 account is out of range for me as yet.

The best I will have to start with is a $1000 live account.

Glad to see you are sticking to your promise Brokerthanthou , see its starting to work in your favour now, you still need to let us know what your outcome is at the end of May :clap:

 

[jabu99]

I know, they are barking up the wrong tree. They hope that they can pin this on an EA failure as EAs are not their responsibility. I suspect that maybe the volume of trades at 06.15hrs caused a delay on their server.

What I'm not clear about are the boundaries between the Meta Trader platform that they provide and the broker software that they control?

If this continues they will lose so much respect. I don't understand why another spreadbetting broker doesn't offer Meta Trader as a charting platform? The number of UK traders wanting to spreadbet must justify it?

Chris

Just looking at my logs. I was not trading FMT at 6.15 but another EA at 6.30. The EA tried to open the trade at 06:30:04 and timed out, actually opening the trade at 06:31:30 @ 1.64768. I expect that you are correct and it is the volume of trades hitting their server at this time. Perhaps they didn't anticipate the number of traders who would be spreadbetting with MT4 and bandwidth/server capacity has been under estimated.

To be fair to SLM, on a private forum trading a similar EA to FMT, around a month ago their charts froze just around when a trade would have TPed, the trade then reversed and got stopped out and they refunded all the losses plus the TP that would have triggered to most of the members of the forum. A nice gesture on their part and good PR for them. Let's hope they get it sorted because their spreads are good and we need a MT4 spreadbetting provider.

 

[podberry]

Here is a poll requested by 'truly' regarding how we would gauge when FMT is failing us.

We were going to do it on % Drawdown however that would prove difficult as you have some folks trading 1% and some over 10%, therefore figures would be skewed. So we decided to use losing trades per month as a bench mark. (excluding December as it is known as a bad trading month)

so the questions is:

How many losing trades would YOU endure in 1 month to stop using FMT for good, or to re-evaluate the system ?



Poll: Total FMT losing trades in 1 month.
[*]04
[*]05
[*]06
[*]07
[*]08
[*]09
[*]10
[*]11
[*]12
[*]13
[*]14
[*]15
[*]16
[*]17
[*]18 or more

[sup]Results:[/sup]

[sup]Als create a poll? Click here[/sup]

 

[PipZombie]

In summary I have the following as being affected by a delay in EA execution on SLM:

chilliepowder
Jashfx
chapmanbd
fergieTEF
Reedbed
Remraf
jimmc
RobM
jabu99
andycon
ffchaci
busfarehome
No1Trader
mike1booth
and myself

Sorry for any mistakes or omissions, please get in touch?

Thanks
Chris

I trade with IBFX US with a five digit broker - fill price was 1.64813 from laptop no vps
I trade with FOREX.com US 4 digit broker - fill price was 1.6482 via vps.

I had a BE + 5 on both accounts. Both are live accounts.

 

[JOHNCO]

BE+5 Both accounts.

 

[Jashfx]

Here is a poll requested by 'truly' regarding how we would gauge when FMT is failing us.


so the questions is:

How many losing trades would YOU endure in 1 month to stop using FMT for good, or to re-evaluate the system ?

Hey Podberry!!

Good Pole but thinking about it, you probably want to Gauge your losers v winners as oppose to just losers. For instance, I would be fine with 8 losers, if for example we had 9 or 10 winners as well. However, I would not be Ok with 8 losers, if for example we had no winners. So to gauge whether FMT is failing us or not, the question should probably read something like: After deducting winners from losers, what figure would prompt you to stop using FMT or re-evaluate the system??.

Just a thought that popped into my head as I was thinking about an answer!!!!

 

[kgk]

Hi Pod - when you get a chance - can u do one for 'opening balance' also? e.g 0-500, 501-1000 etc..

thanks.

kgk

 

[busfarehome]

I went live today using SLM and I don't use a VPS and I was also delayed. However, on my demo account with SLM there was no delay.

Same here, my live SLM trade was deelayed but no delay on demo.

 

[RobM.]

I think that as the EA moves the stop when the trade is 25 pips in profit, then it would have to look at the ask price in the case of a short trade. As the EA did not try to move the stop, I would say that it is because the trade did not move 25 pips into profit although the bid price moved 26.6 pips.

I see what you are saying. Thanks.

I have displayed the ASK line now on my MT4 platform. Do you know, how does one retrospectively see the ASK price?

 

[podberry]

Hi Pod - when you get a chance - can u do one for 'opening balance' also? e.g 0-500, 501-1000 etc..

thanks.

kgk

No problem kgk. I will post it tonight/tomorrow morning. Only one small problem with the poles is that it only gives me 15 lines max, so I'll have to assume most are trading small accounts and then compound eg

1. 0-500
2. 501-1000
3 1001-1500
4 1501-2000
5 ............
6............
7............
8............
9.............
10..............
11 30 001 - 60 000

 

[podberry]

Here is a poll requested by 'truly' regarding how we would gauge when FMT is failing us.

We were going to do it on % Drawdown however that would prove difficult as you have some folks trading 1% and some over 10%, therefore figures would be skewed. So we decided to use losing trades per month as a bench mark. (excluding December as it is known as a bad trading month)

so the questions is:

How many NET losing trades would YOU endure in 1 month to stop using FMT for good, or to re-evaluate the system ?



Poll: Total FMT losing trades in 1 month.
[*]04
[*]05
[*]06
[*]07
[*]08
[*]09
[*]10
[*]11
[*]12
[*]13
[*]14
[*]15
[*]16
[*]17
[*]18 or more

[sup]Results:[/sup]

[sup]Als create a poll? Click here[/sup]

 

[ffchaci]

Morning all,
SLM for me this morning...No Trade.
Weird thing happened though in that the 06:15 candle did not start (and therefore EA not trigger a decision), till 06:16! This is usually in sync with my wristwatch and windows clock.

The 06:30 candle and EA I have open at that time triggered exactly on time (back in sync with the windows clock and my wrist watch!).

 

[mike1booth]

Morning all,
SLM for me this morning...No Trade.
Weird thing happened though in that the 06:15 candle did not start (and therefore EA not trigger a decision), till 06:16! This is usually in sync with my wristwatch and windows clock.

Its not your watch its SLM. Same happened on mine. Its been happening for the last few days.

 

[jonnymac]

Morning all no trade today on slm see you laterhave a good one

 

[jabu99]

No trade on Oanda

 

[kgk]

no trade - ibfx live - 6:15

 

[ffchaci]

Its not your watch its SLM. Same happened on mine. Its been happening for the last few days.

Yep. I have the EA setup for 06:30 for another setting and the EA acted bang on time. It seems there something wrong with the 06:15 time rather than the performance of the EA

 

[podberry]

Anyone trading 06H45 ?

 

[rjfilkins]

Anyone trading 06H45 ?

Yes, but only on demo Alpari.

 

[Lady Forex]

It looks like it is going to be a No Trade also.