andybissell
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Regardless of any edge the system gives, i.e. if price had exactly the same chance of going up or down, and with current R:R, I make out we have about a 4.3% chance of losing 4 in a row taking a 3 pip spread into account. That signals something is going very wrong.....
Tenapenny
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It doesn't surprise me, all the whingeing that's going on. I think there are a lot of new traders here thinking they bought the holy grail. If I risk 5-10% or even more I'll be a millionaire in 2 years. Get real guys. FMT is a reasonable system and as has been said, is sold as a manual trading system with an ea thrown in for free. I admit I use the ea as I don't like early starts. If you have a plan and use sensible mm with low risk you shouldn't have a problem. Drawdown should be managed with low risk. If you can't manage or stress out about drawdown then you shouldn't be trading. Go and buy a lottery ticket instead. It's much less stressful. 
andybissell
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out for SL -45...
FMT account: £810 (-19%)
FMT account: £810 (-19%)
Guys I sent Mark a PM to share his thoughts via email or the forum, lets see what he comes back with
Thanks Pod, It'll be interesting to get Mark's take on things, clearly the indicators are not working as previously, to the point where in the past couple of weeks it would probably have been more profitable if we'd traded opposite the signal! Can live with BE's as the system is keeping you out, but wrong signals on a regular basis needs looking at.
Regardless of current results (and one should be implementing the protective aspects of one's trading plan, in my amateur opinion) it does not seem as if FMT indicators have suddenly 'stopped working'. There have been several of the recent trades where many other indicators and systems (oft quoted at the time by forum members) have indicated the same direction as FMT. None would have made a successful trade, with our or very many other settings, I'd say.
I detect that even manual traders would be a little stumped by many of the Market moves of late.
I started in March 2011 and use only 2% and was up 7.8% at April's end. I'm now showing a net two losses for May. My higher risk accounts, started in May are in bad shape and measures have been taken, BUT THEY ARE NOT THE SYSTEM.
There does seem to be a mysterious force at work in the Market. Perhaps it will revert, perhaps it won't. I am an amateur, EA user. I do not know!
For now, I am sticking with it. Nothing, it seems could get too much right, currently. Opportunists sure... but probably not many EAs and that's all it is. A good one too, as long as you don't expect it to have unreasonable powers. I guess nothing will truly replace the Mk 1 brain.
Keep it real... Keep perception and reality close... Good luck everyone.
I detect that even manual traders would be a little stumped by many of the Market moves of late.
I started in March 2011 and use only 2% and was up 7.8% at April's end. I'm now showing a net two losses for May. My higher risk accounts, started in May are in bad shape and measures have been taken, BUT THEY ARE NOT THE SYSTEM.
There does seem to be a mysterious force at work in the Market. Perhaps it will revert, perhaps it won't. I am an amateur, EA user. I do not know!
For now, I am sticking with it. Nothing, it seems could get too much right, currently. Opportunists sure... but probably not many EAs and that's all it is. A good one too, as long as you don't expect it to have unreasonable powers. I guess nothing will truly replace the Mk 1 brain.
Keep it real... Keep perception and reality close... Good luck everyone.
It doesn't surprise me, all the whingeing that's going on. I think there are a lot of new traders here thinking they bought the holy grail. If I risk 5-10% or even more I'll be a millionaire in 2 years. Get real guys. FMT is a reasonable system and as has been said, is sold as a manual trading system with an ea thrown in for free. I admit I use the ea as I don't like early starts. If you have a plan and use sensible mm with low risk you shouldn't have a problem. Drawdown should be managed with low risk. If you can't manage or stress out about drawdown then you shouldn't be trading. Go and buy a lottery ticket instead. It's much less stressful.
Agreed!
Time will tell. You wont know it has stopped working until you have lost most of your funds. Lets face it this system relies on a continuation of the Asian session but this is not happening, pull up a 1 hr chart and look yourself.
Marc has just emailed to say there is another change to the parameters of the FMT system. Basically he says ditch the EA and manually trade at 615 - if the indicators say go long... go short. And vice versa. I have every confidence in this adaption now.
andycon
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Did he say why to ditch the EA? Oh it was a joke!
Tenapenny
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Agree to an extent. What I'm trying to hammer home is manage your trading. It may or may not have lost it's edge but if you sensibly manage your risk then you should have low drawdowns. Still in profit for the year thank you very much!
Tenapenny
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It's satisfying to vent frustration in black and white, but all around is still grey!
Truly,
I have not received the referenced email.
I assume that you are joking, personally, I find it is rather bad taste!
Maybe you need to lighten up? Just a thought!
jabu99
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C'mon guys! I trade 4 different EAs on London open and all are losing with the market going against their previously reliable indicators. It is not the systems; it is current market conditions. FMT is a good system, as are the others. Cut your risk, trade demo and wait it out.
That's what a cool, level headed, professional trader does
That's what a cool, level headed, professional trader does
C'mon guys! I trade 4 different EAs on London open and all are losing with the market going against their previously reliable indicators. It is not the systems; it is current market conditions. FMT is a good system, as are the others. Cut your risk, trade demo and wait it out.
That's what a cool, level headed, professional trader does
Totally agree and that is what I am doing.
Apologies to anyone whom I have offended!
