ForexMorningTrade System

Yesterday the EA put me in a short which I got out at BE and looking at the day was a good signal. Looking at the responses I seemed to be the only one short. This is the second week of FMT and it is set up as the manual states as far as I can see. 6.15 candle. Most said NT, some long.
I did not watch yesterday, just let the EA do it's work. Andybissell, what is your candle time? I had NT.
 
podberry said:
Must say the forum members have dwindled over the last couple of weeks, looks like half the normal amount.:)
Click to expand...

I think there was little point of making any comments in the board until the rude newcomers backed off.

Today, no evident trend. I hope FMT is keeping us out of trouble as the indicators are all in conflict, Alpari UK definitely had no sell or buy signal at either 06:15 or 06:30, and of 3 other strategies, 2 say sell and 1 says buy.

They tell us the markets can stay irrational longer than some can stay solvent.
 
nt on TMT today, Alpari UK.

I have been looking at the Lindencourt system over on the Donnaforex forum, (thanks for the heads up Tenapenny), to supplement TMT, looks pretty good.

Anyone else tried the above system or would you recommend any others to look at as a supplement to FMT/TMT

Yesterday I had a long, but got out at 10 pips as it seemed a borderline call to me and I must admit I am wary of the systems reliability at the moment, however I will stay the course.

Take care,

Chris
 
Stats for 06-06-2011



Live Accounts:

FMT 4.3, EA standard settings: 45 SL, 25 BE, +5 BE, 35 TP
6:15 UK Time, FXSolutions..., Long/Loss....., -45.0, Stats since 11-08-2010: Total= -107.0
6:15 UK Time, IBFX.........., Long/Loss....., -46.3, Stats since 01-04-2011: Total= +86.3
6:15 UK Time, PFG Best......, No Trade......, 0.0, Stats since 03-01-2011: Total= -74.4




Demo Accounts:

FMT 4.3, EA standard settings: 45 SL, 25 BE, +5 BE, 35 TP
6:15 UK Time, PFG Best......, No Trade......, 0.0, Stats since 02-01-2011: Total= +238.9
6:15 UK Time, FXCM.........., Long/Loss....., -44.9, Stats since 02-01-2011: Total= +312.0
6:15 UK Time, Alpari(US)...., Long/Loss....., -45.2, Stats since 02-01-2011: Total= +264.4
6:15 UK Time, FXDD.........., Long/Loss....., -45.2, Stats since 02-01-2011: Total= +240.4



Notes:

All pip totals include slippage
FXSolutions is the only dealing desk broker
 
Have been trading Lindencourt M15 and Daily on demo for the same reason. M15 looks promising in trending markets, but is very time consuming. Clear signals. More demo winners than losers. Often able to get out of losers. Less risky than FMT or Turbo.

Not enough time for me to get a handle on Daily in two weeks. Seems simple and theoretically it only requires a half hour a day. But it requires large stops. And requires you to screen out setups in non-trending markets without providing indicators to do this.

I picked Lindencourt M15 after trading it against MXFB, Forex It and Forex Pip Taker, three other semi-automatic indicators discussed in the Donna Forex forum.

chrisandrews12 said:
nt on TMT today, Alpari UK.

I have been looking at the Lindencourt system over on the Donnaforex forum, (thanks for the heads up Tenapenny), to supplement TMT, looks pretty good.

Anyone else tried the above system or would you recommend any others to look at as a supplement to FMT/TMT

Yesterday I had a long, but got out at 10 pips as it seemed a borderline call to me and I must admit I am wary of the systems reliability at the moment, however I will stay the course.

Take care,

Chris
Click to expand...
 
WhoDares said:
Yesterday the EA put me in a short which I got out at BE and looking at the day was a good signal. Looking at the responses I seemed to be the only one short. This is the second week of FMT and it is set up as the manual states as far as I can see. 6.15 candle. Most said NT, some long.
I did not watch yesterday, just let the EA do it's work. Andybissell, what is your candle time? I had NT.
Click to expand...

I was in short yesterday using the EA WhoDares. I also got out at BE, but manually as my trigger was set at 25 which we didn't reach. Despite being determined not to fiddle with it yesterday, with the news at 9:30 and the way it was looking I closed out. As you say - good decision.
 
chrisandrews12 said:
nt on TMT today, Alpari UK.

I have been looking at the Lindencourt system over on the Donnaforex forum, (thanks for the heads up Tenapenny), to supplement TMT, looks pretty good.

Anyone else tried the above system or would you recommend any others to look at as a supplement to FMT/TMT

Yesterday I had a long, but got out at 10 pips as it seemed a borderline call to me and I must admit I am wary of the systems reliability at the moment, however I will stay the course.

Take care,

Chris
Click to expand...

slurpee has just started a new thread on the LC daily on ForexFactory. It is building some good info - worth a look.
 
meshgh said:
Law of probability then states that this should start to experience a series of wins over the coming trades. If the system is currently performing below it's long term average then it should pick up any day soon. Strange as it may sound i have seen it happen too often. Unfortunately some people would have stopped trading by then and will miss the winning trades. Keep the faith(y)
Click to expand...

Meshgh, unfortunately you do not understand the law of probability. Probability hath no memory, and future performance of this system is independent of what has happened in the past. The best we can do is estimate what might happen in the future based on long term results of the past, and the further in the past we can extrapolate these results, the more they reflect independence of the near past. ie. Future events are more easily predicted by long term well established trends, then are they by recent events.
 
chrisandrews12 said:
nt on TMT today, Alpari UK.

I have been looking at the Lindencourt system over on the Donnaforex forum, (thanks for the heads up Tenapenny), to supplement TMT, looks pretty good.

Anyone else tried the above system or would you recommend any others to look at as a supplement to FMT/TMT

Yesterday I had a long, but got out at 10 pips as it seemed a borderline call to me and I must admit I am wary of the systems reliability at the moment, however I will stay the course.

Take care,

Chris
Click to expand...

Chris i can only speak for myself but I have evolved over the years and I think that it must be what most of us do that stay in the markets? I bought systems and although they all eventually failed i learnt about the indicators and the markets in the process.

Now I don't rely on any single system alone. I currently run 4 strategies but I cross over the indicators for one strategy to the others. When two strategies concur i feel more confident. This has resulted in my having a general market awareness which I realise is contrary to all the mantras of applying the EA rules religiously but it works for me. My advise is to explore other systems, there are lots of free ones (don't see 'expensive' as good and free as bad. Cost has more to do with greed than the quality of the strategy!) and use the experience you gain from it. I have found that the freedom it has given me is liberating as I feel more in control of the trades and my emotions.

I like Lindencourt FX Daily and Pouria, trend breakouts and i also trade news but that is a bit hairy! None of them stand up to solid backtesting the way that FMT has until now but they are good platforms from which to build successful trades and an understanding of the markets.

Above all MM and backtesting are key. I believe that you learn more about a strategy from manual backtesting it than you do from the results of automatic backtesting. Old fashioned I know but thats how I see it. Lets all pray for more FMT success but Good Luck in all that you explore. Chris
 
I wonder sometimes as to why MF waits a day or two and sometimes longer, in order to publish his 'results'..... :whistling :rolleyes:
 
kgk said:
I wonder sometimes as to why MF waits a day or two and sometimes longer, in order to publish his 'results'..... :whistling :rolleyes:
Click to expand...

I did not know he did still publish results. I'm new so when did he last publish some?
 
podberry said:
Must say the forum members have dwindled over the last couple of weeks, looks like half the normal amount.:)
Click to expand...

just thinking the same thing myself - remember those heady days not so long ago when we were speculating on how long it would take to get to the next 1000 pages on this thread ( and don't even mention those plans for the FMT millionaire's party!):whistling
 
I think everyone is disappointed at a certain degree. I started trading FMT right in April and lost about 17% of my initial capital. I do not like loosing but I take it as part of the business. According to my moneymanagement rules I vary the risk according to the actual performace, i.e. I increase the amount of money risked if the business is growing and decrease it when it is going not so well (like recently). I will stay in business and trade even if with just a very low volume (0.05 lot at the moment).
Take care, 3PO
 
3PO said:
I think everyone is disappointed at a certain degree. I started trading FMT right in April and lost about 17% of my initial capital. I do not like loosing but I take it as part of the business. According to my moneymanagement rules I vary the risk according to the actual performace, i.e. I increase the amount of money risked if the business is growing and decrease it when it is going not so well (like recently). I will stay in business and trade even if with just a very low volume (0.05 lot at the moment).
Take care, 3PO
Click to expand...

Yeah - I'm doing the same thing - I guess the trick is to know when the bad patch is actually over (y)

cheers
 
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