ForexMorningTrade System

[GilR]

There would have been NO TRADE according to the indicators so I don't understand your statement.

Hey

If you read some earlier comments, some folks have been following Russ Horn(?) who takes the signal an hour earlier. On this day they would have gone long

Gil

 

[Fabius]

Hey

If you read some earlier comments, some folks have been following Russ Horn(?) who takes the signal an hour earlier. On this day they would have gone long

Gil

I am long at 1.5412 but Momentum ad CCI, even though are in the positive field, are heading downward...
However I am gonna stick to the rules and maybe it would be better for me to go back to sleep not to have the temptation to put my hands into the trade

 

[bluedancer]

Hi, my first post here.
I've read thru this thread but can't find info on this question: can the new EA be installed as stand alone or does the indicator need to be attached to chart as well for the EA to work ?

thanks !

I just checked one account and I had the EA set up, but forgot to put the indicator on the chart, and yes the EA still took the same trade as it did on the account where I had the indicator as well as the EA attached to the chart.

 

[bluedancer]

does everyone here leave the EA on for non farm Friday? even though it could be flat for a few hours? I noticed someone made an analysis on the EA's performance for non farm day, but are there other thoughts out there? I am just not sure I want to keep this trade open right now.

thanks!

 

[markfric]

Hello,

all of you who have problems with EA - could you send me the logs for the last few days? They are located at <Metatrader directory>/experts/logs.
Send it to o support email please, don't post it here.

There are some people who cannot get EA to work, and I haven't found the reason why yet. I tested it on different brokers (ECN and non-ECN, 4,5 digits) and it always works fine.

One possible issue is misconfiguration of Lots. You can trade also with microlots, but you must have account that allows microlots.
Another issue is that there might be some brokers who don't allow trading with EAs.

I'll check it once I'll get the logs and hopefully I'll find out what is wrong.

Btw. I'm in the long trade today, we'll see...

 

[oldie]

Hello,

all of you who have problems with EA - could you send me the logs for the last few days? They are located at <Metatrader directory>/experts/logs.
Send it to o support email please, don't post it here.

There are some people who cannot get EA to work, and I haven't found the reason why yet. I tested it on different brokers (ECN and non-ECN, 4,5 digits) and it always works fine.

One possible issue is misconfiguration of Lots. You can trade also with microlots, but you must have account that allows microlots.
Another issue is that there might be some brokers who don't allow trading with EAs.

I'll check it once I'll get the logs and hopefully I'll find out what is wrong.

Btw. I'm in the long trade today, we'll see...

Me to @ +11

 

[Fabius]

Me to @ +11

In this very moment (9.49 Italian time) I am +25 pips and still growing :clap:

 

[c0py]

I manually closed my trade at +$45 today - still in two days my account is now at $105 from starting at $30

Next week I can afford to not set the risk so high, im thinking around 40% ($40) per trade until it grows a little more to allow me to change the risk down again to 20% etc...

 

[markfric]

3rd September - LONG
Entry: 1.5413
PT: 1.5450
P/L: +37 pips


Weekly summary
3 profits, 0 losses, 2 no trades, the week ended with +117 pips profit.

 

[markfric]

I manually closed my trade at +$45 today - still in two days my account is now at $105 from starting at $30

Next week I can afford to not set the risk so high, im thinking around 40% ($40) per trade until it grows a little more to allow me to change the risk down again to 20% etc...

c0py, this week was very good but I think you are risking too much. There could be 2-3 losses in a row and it will put your account back to the start again. No system has 100% win trades, we have to count also with losses. I think 5% is the maximum you should risk per trade, at least I would never risk more than 5%.

 

[LIQUIDKNUCKLES]

c0py, this week was very good but I think you are risking too much. There could be 2-3 losses in a row and it will put your account back to the start again. No system has 100% win trades, we have to count also with losses. I think 5% is the maximum you should risk per trade, at least I would never risk more than 5%.

HI Mark, Why was your profit 37pips, shouldnt it have been 40?

 

[Fabius]

In this very moment (9.49 Italian time) I am +25 pips and still growing :clap:

I decided to manually close the trade @ 1.5445 for two main reasons:
1) the price touched Pivot R1 that started to reject the price toward the daily pivot and the flat SMA200.
2) At 10.30 there was a red news on GBP (Services PMI) that made the price collapse for nearly 60 pips in few minutes.

I closed the trade with a +33 pips gain :innocent:

Anyway, the price wouldn't have reached the 40 pips stop loss (that I had @ 1.5372), but when things like these happen, I behave like a coward and prefer to lock the profit.

For those who didn't manage the trade, it is still running and I wish to those brave people a happy ending and good profits

Is there a suggested way to deal with the important news if the trade hasn't reached the target yet?
And what about the spread? Should I add it to TP and SL?

 

[PONKO]

3rd September - LONG
Entry: 1.5413
PT: 1.5450
P/L: +37 pips


Weekly summary
3 profits, 0 losses, 2 no trades, the week ended with +117 pips profit.

Hi Mark,
I did similar way like you. My EA opned long @1.5412 and I closed @1.5446 (34pips). That was my pivot point ind. level and ´cause today is one of those days.... prefered to close the trade. I think it was a very good desition.... all of us can see the big spike down in 10:15 (GMT+2) and I´d got maybe a lossing trade...all depends t it tocuh the SL or TP (40pips) today...any way, this is my first trade and I got +34pips (79.56€)
Thanks a lot for FMT. It is very log, understandable and proffitable in the long time.

 

[Kinger]

I manually closed my trade at +$45 today - still in two days my account is now at $105 from starting at $30

Next week I can afford to not set the risk so high, im thinking around 40% ($40) per trade until it grows a little more to allow me to change the risk down again to 20% etc...

here comes your first blown account my friend ...

 

[Kinger]

If your on a micro account (which you should be), why not just risk a fixed $5 per day until your upto $400.
May take a while but you'll be an expert at the system by then.
Then you can evaluate your risk % from then on.

 

[jrx]

Hi Mark, Did you adjust EA to take profit at 37 pips? & Why ?

 

[jrcollins2009]

I have open trades on 3 brokers that did not hit the 40 pip TP and now they're in a drawdown (12-15 pips). Since I am in US eastern time, I cannot manage the trades in the middle of the night and must rely on the EA parameters. Perhaps it's not wise to trade on NFP day or lower the TP at certain times. Any thoughts on this?

 

[PONKO]

Hello jrcollins2009:
My english is not very good, sorry. I think the best and complete explanation of todays trade is from -Fabius- . I did similar manage to him today and it was very good idea to close exactly at the end of that bar (10:00 / GMT+2) or at the begining of the 10:15 / GMT+2 in my case and @ R1 1.5445 / 1.5446, due to the proximity of the fundamental news afecting GBP/USD.
I say again...read the Fabius replays...this is a very clear explanation.
Best
Carlos
Good luck with the trade....it is still running

 

[jrcollins2009]

Thanks Ponko:
That is good advice except if one cannot be watching the trade one must deoend on EA settings.

 

[Dean31]

Hi -

I took the backtest for the last 2 years and changed lot sizes to see how the results would change...

We all know the downside of trading martingale style but I was curious to see what would have happened... I also changed the lot sizes for larger positions with the same size account to see if we would have run into trouble...

Regards
Dean SA