ForexMorningTrade System

[nubchai]

The time frame is a bit confusing because of the time change last week. I use AAAFX to provide those trades and thought I had it set on the correct hour. Apparently I didn't. The trade 2 nights ago was off by 1 hr early. Luckily it still ended up to be a good trade. I have since corrected the hour so it now trades at 1:00 and 1:30 Eastern.

Now the other part of your question,, I trade FMT like normal and I use my modified EA and it opens 30 minutes before FMT so yes, I have 2 charts running two slightly different EA's. I call it FMT extended version because it can open any time between 1:00 a.m eastern and 3:30 a.m, which is a full 2.5 hr where if the indicators line up for either a sell or buy, it will take the trade. As you can see, last night, even though FMT parameters were off so no trade for FMT, my EA did take the trade and was a winner. Any more questions, just ask.

Hi TK

So your FMT extended version just trades 1/2 hour longer (starting 1/2 hour earlier) ? And your other FMT trades 1:30 am est to 3:30 am est.

So are there times when both EAs have taken the same trade?

Also are you doing this on a live account?

Thanks!
Sandy

 

[PipZombie]

Just checking to see if tomorrow is an OK day to run with the US, FRENCH an CANADA Holiday tomorrow. I know we run this pre London and potentially through part of London session but just wanted to get a vote.

 

[nubchai]

Just checking to see if tomorrow is an OK day to run with the US, FRENCH an CANADA Holiday tomorrow. I know we run this pre London and potentially through part of London session but just wanted to get a vote.

I'm planning to run the EA but I've reduced the lot size and TP. Not sure how much pop we'll get so I'm being cautious

 

[tkbieber]

Maybe a private forum wouldn't be a bad idea. Any thoughts?

I would be up for that. You have my vote.

 

[tkbieber]

Hi TK

So your FMT extended version just trades 1/2 hour longer (starting 1/2 hour earlier) ? And your other FMT trades 1:30 am est to 3:30 am est.

So are there times when both EAs have taken the same trade?

Also are you doing this on a live account?

Thanks!
Sandy

Yes, I found in back testing that 30 minutes earlier get as much or more pips over long period of time. And yes, many times there are 2 trades opening doing about the same thing. I divide my risk in half so if both open, I'm still risking what I want. The other difference is that the two indicators used have certain parameters that if they are slightly off, they will not trade as seen in last night's set-up. However, my EA simplifies it so if at the start the two indicators are not lined up but 45 minutes later they do line up, then my EA will trade. So it can open right away at 1:00 a.m Eastern or it can open as late as 3:15 a.M. In the 12 months or so I tested, I compared FMT and my EA and mine came out ahead in pips. I figure 2 is better then 1 so I use both EA's and divide the risk. Last night, FMT had a no trade and mine did because of the looser parameters which I can't explain in the open forum.

Yes, this history is exactly what my live account is doing.

 

[musallam]

Good morning,

I want to share with you the results i got from trading EURUSD @ 21:30 GMT:

03 Nov. +20 pips.
04 Nov. +21 pips.
08 Nov. +26 pips
09 Nov. BE
10 Nov. +26 pips.

Total +93 pips.

In the beginning my settings was SL 40, TP 20 & BE 15..... Then i modified the TP to 25 pips. Try on demo before going live.

Wish a good day to everyone.

 

[trader578]

Good morning,

I want to share with you the results i got from trading EURUSD @ 21:30 GMT:

03 Nov. +20 pips.
04 Nov. +21 pips.
08 Nov. +26 pips
09 Nov. BE
10 Nov. +26 pips.

Total +93 pips.

In the beginning my settings was SL 40, TP 20 & BE 15..... Then i modified the TP to 25 pips. Try on demo before going live.

Wish a good day to everyone.

Thanks for the input Musallam. I ran a backtest on EURUSD with your criteria 25TP 40SL 15BE, and my results from Jan 1, 2010 to today were: 1.11profit factor, 40.94% max drawdown ...
Not exactly what I would call an efficient system. IMHO, I would stick to the manual and the GBPUSD only.

Best Regards

 

[JustinSydney]

Yes, I found in back testing that 30 minutes earlier get as much or more pips over long period of time. And yes, many times there are 2 trades opening doing about the same thing. I divide my risk in half so if both open, I'm still risking what I want. The other difference is that the two indicators used have certain parameters that if they are slightly off, they will not trade as seen in last night's set-up. However, my EA simplifies it so if at the start the two indicators are not lined up but 45 minutes later they do line up, then my EA will trade. So it can open right away at 1:00 a.m Eastern or it can open as late as 3:15 a.M. In the 12 months or so I tested, I compared FMT and my EA and mine came out ahead in pips. I figure 2 is better then 1 so I use both EA's and divide the risk. Last night, FMT had a no trade and mine did because of the looser parameters which I can't explain in the open forum.

Yes, this history is exactly what my live account is doing.

Can you email a coyof modified ea to me. [email protected]

 

[musallam]

Thanks for the input Musallam. I ran a backtest on EURUSD with your criteria 25TP 40SL 15BE, and my results from Jan 1, 2010 to today were: 1.11profit factor, 40.94% max drawdown ...
Not exactly what I would call an efficient system. IMHO, I would stick to the manual and the GBPUSD only.

Best Regards

Hi trader,

What time you set when you backtest? Because i am using 21:30 GMT.

My max drawdown for the same period that you have already selected is 8.51% and profit factor is 1:49.

 

[trader578]

Hi Musallam,
I ran a backtest according to your criteria for 23:30 because from what I understand all metaquotes data is GMT+2, and all backtests should be run GMT+2.

 

[nubchai]

Yes, I found in back testing that 30 minutes earlier get as much or more pips over long period of time. And yes, many times there are 2 trades opening doing about the same thing. I divide my risk in half so if both open, I'm still risking what I want. The other difference is that the two indicators used have certain parameters that if they are slightly off, they will not trade as seen in last night's set-up. However, my EA simplifies it so if at the start the two indicators are not lined up but 45 minutes later they do line up, then my EA will trade. So it can open right away at 1:00 a.m Eastern or it can open as late as 3:15 a.M. In the 12 months or so I tested, I compared FMT and my EA and mine came out ahead in pips. I figure 2 is better then 1 so I use both EA's and divide the risk. Last night, FMT had a no trade and mine did because of the looser parameters which I can't explain in the open forum.

Yes, this history is exactly what my live account is doing.

TK when you say "my EA" you mean the second copy of FMT? Or have you developed a separate EA? I thought originally you meant 2 separate copies of FMT running on 2 charts but with different start times. Sorry if I'mbeing dense. It's been a long day

Thanks,
Sandy

 

[oldie]

Agree that live feeds are the only real test, I use Alpari UK on a live account. I have a 2/1 win-loss ratio using the EA exclusively.
However, all my trades have opened at exactly the same time, 7:30
There have never been any trades opening during the remainder of the times within the blue zone. Can anyone explain this ?

I asked this question of Mark very early in the piece & his explanation was that the trade is ONLY taken on the opening of the candle at that time & if the indi. line up.
Cheers Oldie

 

[trader578]

TK, please don't talk about using other EAs on this FMT forum, unless you are willing to share it with all of us by posting it as an attachment here. Thanks.

 

[nubchai]

 

[suresh3101]

long at 1.6141

 

[nubchai]

Long 1.6142 fxdd

 

[FX girl]

long 1.6144 AVA

 

[Flourish]

Long @ 1.6143

 

[FX girl]

my FXDD Malta is at 1.6146

 

[musallam]

my FXDD Malta is at 1.6146

I am using demo account from FXDD malta and got executed at 1.6142