ForexMorningTrade System

Hi everyone,

I was wondering if i could get some help.

Im a newbie and i have just set up a demo running with the EA.

The problem is that when the EA tries to trade i get the error message 134 not enough money.

trading micro lots with $3000 in the account
 
Had two trades today on gu :
1:
12:30gmt
ForexMorningTrade EA Signal 2012.03.23
LONG Trade opened at price : 1.58497
hit tp :)
2:
12:45gmt
ForexMorningTrade EA Signal 2012.03.23
LONG Trade opened at price : 1.58421
hit tp :)
 
hi everyone, I'm new here.. and must be beginners luck today as it hits double jackpot and that while forward testing it too.. however I'm just wondering why is everyone insisting on running this EA at 12:30 or even 12:45 with those params as according to my back and forward tests it consistently looses more money then it wins..

btw only bought it for EA testing purposes because it looked clean and sound as opposed to so many others out there.. also if I find better setting I will publish them here..

cheers
 
and sorry for spoiling this celebration party but if someone wants to see really bad results try dropping both 18 and 5 to 0 and back testing it past few months just on TP 30 and SL 35 at 12:30GMT :-(
 
jacekg said:
hi everyone, I'm new here.. and must be beginners luck today as it hits double jackpot and that while forward testing it too.. however I'm just wondering why is everyone insisting on running this EA at 12:30 or even 12:45 with those params as according to my back and forward tests it consistently looses more money then it wins..

btw only bought it for EA testing purposes because it looked clean and sound as opposed to so many others out there.. also if I find better setting I will publish them here..

cheers
Click to expand...
I am testing it too and myself to work with ea as working with any ea requires discipline and knowledge, I think most people who make money with ea's stay quiet as they do not want to know that it is so easy to make money. Nice to hear that you are testing it. Lets see what you can suggest us. Bloody time change, will need to change ea time again as we changing time this weekend and so my broker is. I have two other ea's working for me. So 3 all together and planning to buy another one. Sorry actually have four now and soon setting up trade mirroring but for this I will need to open new broker account, for now I use on daily basis 3 brokers. One is true ecn and on it only one ea operates. Kind regards. Good piping all.
 
FMT is a breakout strategy and this is what the 2 indicators are for.
Backtesting is useless for this strategy because we want what works NOW not what worked 6 months ago or later. My breakout time of 8:30 and 8:45 NY is now the best BO time, but a year ago it was not ! When FMT was first launched over a year ago, 6:30 London was the best BO time, but not now.
This is why I searched the GU, M15 chart to find the most consistant BO time that gives the FMT indicators the best chance to capture the right trade direction. Then I had to find the right TP and SL that would work most of the time. You need a high enough SL to give the trade room to go in the right direction and a TP that is not too high that it rarely gets hit. SL=35 and TP=30 seems to be best at the moment. The BE=18 is where most trades in the right direction get to before reversing so this is the safety net to save getting hit with a SL if the reverse continues against us.
If and when these settings start to fail badly, I will look for a better BO time, it does seem to change with the market every few months. So, don't waste your time with backtesting, you don't want what worked in the past , you want what works NOW !

hope this explains my settings and why I might have to change them again sometime ?

cheers !
 
jacekg said:
hi everyone, I'm new here.. and must be beginners luck today as it hits double jackpot and that while forward testing it too.. however I'm just wondering why is everyone insisting on running this EA at 12:30 or even 12:45 with those params as according to my back and forward tests it consistently looses more money then it wins..

btw only bought it for EA testing purposes because it looked clean and sound as opposed to so many others out there.. also if I find better setting I will publish them here..

cheers
Click to expand...
jackg
what time are you running the ea from if your not doing it on 12:30/12:45 ?

Regs
 
Hi Seniors,
Pl. help me. I'm very confused about the base GMT settings. which GMT should I consider as the trading time ?? there are various opinion about it in the post. Pl. help. Thanks.
 
Last edited:
karanmittal said:
Hi Seniors,
Pl. help me. I'm very confused about the base GMT settings. which GMT should I consider as the trading time ?? there are various opinion about it in the post. Pl. help. Thanks.
Click to expand...

Forget GMT, just set the ea on your mt4 platform so it starts at 08.30 New York time.

TP +30 in 42 minutes today. (y)
 
Had two longs today on gu:
1:
12:30london
ForexMorningTrade EA Signal 2012.03.26
LONG Trade opened at price : 1.58785
hit tp :)
2:
12:45london
ForexMorningTrade EA Signal 2012.03.26
LONG Trade opened at price : 1.58854
hit tp :)

It looks like now I have to move the fmt time 1h forward again, since I have moved it back 1h two weeks ago when US had time change, now my broker has moved 1h forward but I kept my fmt time as it was. Or leave it as it is ?
Thanks :)
 
Last edited:
turboonostrilvision said:
Had two longs today on gu:
1:
12:30london
ForexMorningTrade EA Signal 2012.03.26
LONG Trade opened at price : 1.58785
hit tp :)
2:
12:45london
ForexMorningTrade EA Signal 2012.03.26
LONG Trade opened at price : 1.58854
hit tp :)

It looks like now I have to move the fmt time 1h forward again, since I have moved it back 1h two weeks ago when US had time change, now my broker has moved 1h forward but I kept my fmt time as it was. Or leave it as it is ?
Thanks :)
Click to expand...

No, it is still 12:30 GMT, this has not changed.
But London is now 1 hour more than GMT. (13:30 DST)
Just remember that 8:30 NY is still 12:30 GMT and set your broker GMT offset accordingly. Some brokers might have adjusted to the London DST. ?
 
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