ForexMorningTrade System

SL: -45, again. I have started trading on 10 April 2011 I have now 13% loss of my initial balance. Next week I will move my money from tadawul to alpari so I will miss next week trading and will be back on 30 May.
3PO
 
pipzombie said:
i have been trading fmt since 9/14/10. My account gain has been as high as 88% gain while risking 4%. My current balance is a 64% gain so i have had 14% drawdown using 4% risk per trade. Still performing ok. But as you said i will keep my eye on it. My results are on a live account which inlcudes missed trades because of interent being down and i manually change the 4% risk per trade as the account increases so there are times i am risking just more than or less than 4% per trade.
Click to expand...

88 - 64 = 24% dd :)
 
Hi I have just posted over on TMT thread re an issue I had today any advice would be appreciated:

I hit my SL at 22 pips instead of 45 due to the trade being modified I spoke to Alpari UK and here is their response:

Dear Sir



Thank you for your email.



The Stop Loss was modified from your Terminal:



2011.05.13 07:15:01 62.216.228.157 '34251': instant sell 1.01 GBPUSD at 1.62554 [previous price 4]

2011.05.13 07:15:01 62.216.228.157 '34251': instant sell 1.01 GBPUSD at 1.62554 sl: 0.00000 tp: 0.00000 (1.62557 / 1.62582)

2011.05.13 07:15:01 '8': request from '34251' (sell 1.01 GBPUSD at 1.62554 sl: 0.00000 tp: 0.00000)

2011.05.13 07:15:02 alpariserv '8': confirm '34251' sell 1.01 GBPUSD at 1.62554 sl: 0.00000 tp: 0.00000 (1.62552 / 1.62577)

2011.05.13 07:15:02 62.216.228.157 '34251': order #24358975, sell 1.01 GBPUSD at 1.62554

2011.05.13 07:15:02 62.216.228.157 '34251': modify order #24358975, sell 1.01 GBPUSD at 1.62554, sl: 0.00000 tp: 0.00000 -> sl: 1.63004 tp: 0.00000

2011.05.13 07:15:02 '8': request from '34251' (modify #24358975 sell 1.01 GBPUSD at 1.62554 sl: 1.63004 tp: 0.00000)

2011.05.13 07:15:03 alpariserv '8': confirm '34251' modify #24358975 sell 1.01 GBPUSD at 1.62554 sl: 1.63004 tp: 0.00000

2011.05.13 07:15:03 62.216.228.157 '34251': modified #24358975, sell 1.01 GBPUSD at 1.62554, sl: 1.63004 tp: 0.00000

2011.05.13 07:30:02 62.216.228.157 '34251': modify order #24358975, sell 1.01 GBPUSD at 1.62554, sl: 1.63004 tp: 0.00000 -> sl: 1.62776 tp: 0.00000

2011.05.13 07:30:02 '8': request from '34251' (modify #24358975 sell 1.01 GBPUSD at 1.62554 sl: 1.62776 tp: 0.00000)

2011.05.13 07:30:03 alpariserv '8': confirm '34251' modify #24358975 sell 1.01 GBPUSD at 1.62554 sl: 1.62776 tp: 0.00000

2011.05.13 07:30:03 62.216.228.157 '34251': modified #24358975, sell 1.01 GBPUSD at 1.62554, sl: 1.62776 tp: 0.00000

2011.05.13 08:00:05 '34251': stop loss #24358975 at 1.62776 (1.62751 / 1.62776)

The trouble is I was not at my terminal when this happened, (fast asleep in bed!)

I have checked the TMT EA settings and all are set to default.

Any advice would be appreciated

Many thanks,

Chris
 
chrisandrews12 said:
Hi I have just posted over on TMT thread re an issue I had today any advice would be appreciated:

I hit my SL at 22 pips instead of 45 due to the trade being modified I spoke to Alpari UK and here is their response:

Hi Chris;

I've not had this problem yet, but have only been using TMT for a few days. I have stealth set to false
Click to expand...
 
mblake said:
chrisandrews12 said:
Hi I have just posted over on TMT thread re an issue I had today any advice would be appreciated:]

Chris, double check your EA settings re hidden and real stop loss settings, just in case there is a mistake there.

Otherwise its a mystery.
Click to expand...

yep all settings are correct and stealth mode is set to false

I have to say Alpari UK have been prompt and courteous so far and are still investigating this for me

Chris
Click to expand...
 
Last edited:
shoot2scoot said:
Wonderful parting shot by SLM. I tried to close out my last ever trade with them during that last spike down and I could not close the trade. I pressed about ten times, while the price was static at it's low. Then the price shot up and hey presto the trade closes higher losing me some extra 6-8 pips.

I get the last laugh as I hope to be trading well after SLM go under for lack of customers.

Good luck everyone, I just needed to get away and was looking for an exit.
Click to expand...

SLM Account Closed --- well one of them anyway -- and funds moved to Think FX.
At least I can now trade the EA with piece of mind on both Alpari UK and now Think FX.
 
FMT for me this morning, (45-35-25-5) Forex.com-UK broker

6:15 start, short signal, hit SL -46 pips
6:30 start, short signal, hit SL -46 pips
6:45 start, short signal, hit SL -23 pips (half lots)

total today, -115 pips..

weekly total -191 pips .

better luck next week .. :)
 
wiseambitions said:
Unlucky Friday 13th for FMT traders

This is the ugliest patch I think the system will have been through even in the 2 or 3 years of backtesting prior to release. Worse than Christmas in my experience.

Last 10 trades, to compare the various changes to FMT recommendations

Original system 40tp/40sl (without BE) -160

and with BE@ 20 still -160. (I know there was a tip to reset to BE at 24 at one time)

First revision. 35TP/40SL/BE@20 -170

Latest revision, including advancing the start time
35TP/45SL/BE+5@25 -185

Strange to say the revisions have done more harm than good, just in the last 3 weeks.
Click to expand...

Wise

To which timescale do you refer, by 'worst period' and has this period really been worse than the 5 consecutive losses, followed by 1 BE+0, followed by a further 2 consecutive losses that occurred in December 2010?

Many thanks.

Out of interest:
I started trading in March 2011 with standard settings and continue as such. I did, however, use actual results and tested risks high as 12.5% through Christmas 2010 and the system still recovered to 20% per month profit by March. It's not nerve-wracking doing that in reverse though; it's going forward that makes your sphincters tighten...!
 
Ending results for this week:

+11.8%
Last week +2.3%

This is my College Fund :smart: goal of $2,000,000 in 2 years from $100.

I'll probably not keep a weekly update anymore but more inclined to a monthly update.
You can bookmark the above link and keep up-to-date.

Yes, you will see one loss but I have since changed the settings and then it would have been a win. With my current settings, I have 100% wins for as far back as I could back-test from July of 2010.
 
RobM. said:
Wise

To which timescale do you refer, by 'worst period' and has this period really been worse than the 5 consecutive losses, followed by 1 BE+0, followed by a further 2 consecutive losses that occurred in December 2010?
Click to expand...

I think I refer not just to say the last 5 or 10 trades, because there have indeed been more sticky periods than this in that timescale, but I'm looking at the rolling gain of the last 6 months or 100 trades.

The setting of 40/40 had usually been rolling along at about 65% winning rate in the last 100 sessions, but is currently hovering around 55, and that's only just producing a gain of 3 or 4 pips on average per day. In the longer term measurement the average gain is more like 10.

I hope normality is restored. We never know every morning whether it will be a good trade or a bad one. And if we stayed away every day there was to be news, or kept changing the rules we'd end up at 0/0/ and plus 0
 
Deserteagle setting with 65sl was the only one that won today, 10/40 didn't even get close.

Results for the last 100 trades

43/65/BE@20 +399
35/40/BE@20 +165 (this was the FMT recommendation during the last 6 months)
40/40 +320
10/40 + 500 (this one just kept going fairly well through a few bad patches)
28/40 +280
20/40 + 20 (fairly useless setting)

Results of the last 200 trades
Deserteagle, 1684
35/40/BE 1685
40/40 1920
10/40 1250
28/40 1792
20/40 1120
 
Since the 10-trade performance was mentioned, I made a chart from my data on the performance of my settings. The big dip to the right of centre is Xmas period with all trades taken, and we are now there again.

Note: My settings give me a few more winners in the year with the 6:30 alternate trade (according to my data) and the BE +8 helps smooth out the curve a bit. But this chart pattern will be about the same for the default 6:15 trade.

Great weekend all. We will reap the pips next week.
 

Attachments

  • 10-TRADE MOVING AVERAGE OF PIPS MADE FROM 1 JAN 2010.PNG
    10-TRADE MOVING AVERAGE OF PIPS MADE FROM 1 JAN 2010.PNG
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coral said:
Since the 10-trade performance was mentioned, I made a chart from my data on the performance of my settings. The big dip to the right of centre is Xmas period with all trades taken, and we are now there again.

Note: My settings give me a few more winners in the year with the 6:30 alternate trade (according to my data) and the BE +8 helps smooth out the curve a bit. But this chart pattern will be about the same for the default 6:15 trade.

Great weekend all. We will reap the pips next week.
Click to expand...

Thanks for the stats. Looks like we are at a bottom.
 
podberry said:
Question to all of you, has anyone ever contacted any UK brokers except SLM and asked them if they are considering opening a Spreadbetting platform down the line ? Would be great if SLM had some competition as it seems their attitude is based on the fact that they have the monopoly and can treat us as they wish as they know tax free trading is a sort after proposition.:eek:
Click to expand...



Hi, GFT now offer a mt4 spread betting platform
 
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