ForexMorningTrade System

[pipette2010]

One suggestion to everyone..

i just tried a new entry today..
placed two sell orders, with take profit 20pips in each and stoploss 40pips..
if i win, i will get 40pips and if i hit stoploss, i lose 80 pips..
Since this FMT system, loses very rarely.. may be twice maximum every month..
why i tried this system is, many trades go past 25 pips in profit and then gets closed in breakeven..
just wanted to share this with u people..
i won today!!

Why don't you just trade twice the lot size? I was thinking of trying 2 orders, 1 with TP at 20 pips and 1 with BE at 20 pips TP at 35 pips, both SL at 40. If the price goes past 20 pips, then reverse, I would get 20 pips, instead of just BE. If it goes to full TP, I would get 55 pips, and a SL would result in -80 pips. It's like closing half the trade at 20 pips and letting half go to TP.

 

[jonesrp]

megamuel...you must have investigated all the Forex sites where you`re offered 20 pips a day etc..etc.. It`s impossible. But 100 pips a month, 1200 pips a year IS possible with this system at the moment, and that may change of course, but the good news is we all die at the same time if it goes bad.In the meantime stay with the programme and don`t put your house on any one trade...What is wrong with break even? Stop watching your trades and take a long term view...good luck and enjoy your weekend mate...

 

[speedtrip]

Hi I have just found this thread.

I have never used an EA to trade for me.

Once I have done my demo trading to get used to the mechanics does this mean I will be able to leave my desktop on and the EA will do all the work for once the parameters are set up.

I see also that the author has modified the original EA so it would be helpful if i knew all the features of the EA as the sales page does not seem completely up to date. For example does it run a trailing stop, move stop up to BE to lock in profits etc.

Thirdly I was going to use Smart Markets Live as this is the only broker i know that offers MT4 with spreadbetting. Does anyone have experiences of them?

Cheers

The Ea is very reliable. Data feed from your broker and broker spreads can cause you to get different results short term from other users but it seems to even out over time.
I use 32 TP because I missed a few trades early on by a couple of pips and my broker spread in NZ can sometimes be as high as 4 pips on cable.I use a Vps at the moment because of a couple of internet failures where I live as a result of an earthquake and subsequent aftershocks but I`ll be stopping that at the end of this month. Most trades seem to be done and dusted inside an hour or so and if you like you can watch the action live, I prefer not to.I have looked at Smart Markets because I have a live account at Capital Spreads as well but they don`t have MT4. I like spread betting and you can risk more than you can with an Fx broker. I am trying to work out average draw down with FMT so I could explore the idea of spread betting it with more risk...the break even feature with the Ea may keep drawdown a bit lower.I think Marc`s web page showed one month with 4 or 5 losses in a row so you have to be careful, however I have been live for 3 months and have been in profit every month. I have applied for a demo account with Smart Markets today ( my time ) and will wait for them to get back to me Good luck with this and don`t muck around too long on demo..trade conservatively on a micro account and keep reading this thread, there are a lot of wise traders on here . This system is a beauty at the moment and I bought it wanting 100 pips a month. It`s doing better than that....

Thanks Jones.

I have basis MT4 indys before but more used to trading price action so using an EA is a big leap for me.

Agree with all your points and whole point is for the EA to do the work and take the emotion out of trading.

Will be interesting if my discretionary PA method will help confirm the trades taken by the EA.

I have a pretty good internet connection here as the line tests have confirmed and about to switch to BT Affinity so hopefully np. Does SML offer VPS?

Yes, agree will move to live micro accounts once ive got my head around it all

Cheers

ST

 

[bertbin]

My results this week with different entry time
cur trade profit win loss
usdjpy 7 -324.24 98.08 -331% -422.32 -431%
eurchf 4 -312.49 14.37 -2175% -326.86 -2275%
gbpusd 8 -276.90 52.50 -527% -329.40 -627%
usdchf 4 -28.94 85.61 -34% -114.55 -134%
eurjpy 4 -14.66 250.31 -6% -264.97 -106%
eurusd 3 229.10 229.10 100% 0.00 0%
eurgbp 3 369.90 370.26 100% -0.36 0%
gbpjpy 5 556.33 556.33 100% 0.00 0%


TOTAL 38 198.10 1656.56 12% -1458.46 88% %K =3,96 %

Take out the 2 bad curs and result is + 834 $, % K (5000) = 16,70 %
Have a nice WE
Bert
PS GBUS is set at "oficial" set time : -1h30 London open

 

[Cobber]

Why not just toss a coin?

 

[Magicpip]

I hope I answered everyone's inquiries. Thanks for being patient.

Last night another wonderful set up. Here are the results.

I'll be gone over the weekend so if I miss anyone, I'll try to reply by Monday.

Have a good weekend. :clap:

I sent you a PM.

 

[bluedancer]

My results this week with different entry time
cur trade profit win loss
usdjpy 7 -324.24 98.08 -331% -422.32 -431%
eurchf 4 -312.49 14.37 -2175% -326.86 -2275%
gbpusd 8 -276.90 52.50 -527% -329.40 -627%
usdchf 4 -28.94 85.61 -34% -114.55 -134%
eurjpy 4 -14.66 250.31 -6% -264.97 -106%
eurusd 3 229.10 229.10 100% 0.00 0%
eurgbp 3 369.90 370.26 100% -0.36 0%
gbpjpy 5 556.33 556.33 100% 0.00 0%


TOTAL 38 198.10 1656.56 12% -1458.46 88% %K =3,96 %

Take out the 2 bad curs and result is + 834 $, % K (5000) = 16,70 %
Have a nice WE
Bert
PS GBUS is set at "oficial" set time : -1h30 London open

Sorry is this report supposed to aid in evaluating FMT? it does not really help without knowing the times the trades were taken.

which 2 bad currencies would you take out? It looks like GBPus is one of them. But this is a longterm system. I backtested most of the Currencies you see here and GBPusd tested the best at the time recommended... ??

 

[PipZombie]

I was wondering if Mark has the performance for Nov and Dec 2009. I generally stay away from the market the week of U.S. Thanksgiving and then from Dec 15 through about January 10th. I would like to know how it performed last nov and dec. Please post if you have the information.

 

[wiseambitions]

I was wondering if Mark has the performance for Nov and Dec 2009. I generally stay away from the market the week of U.S. Thanksgiving and then from Dec 15 through about January 10th. I would like to know how it performed last nov and dec. Please post if you have the information.

This would interest me too

The advertising website would indicate December saw November's good result wiped out.


My own findings would tend to suggest the entry signals usually caught the trend in the right direction but there was not enough volatility in the daily movement to achieve full TP

I am wondering whether this is a pattern which will be repeated and therefore either to reduce TP next month or stay away for the entire time.

Maybe if Mark could supply the entry signals which he saw for the month of December 2009 I could carry out some more analysis as I have a record of the price OHLC for every 10 minute period during that month and can soon analyse and share my observations: idea:

 

[lumbco]

PM me for info.

Thanks for your reply.

I don't understand the abbreviation "PM", please clarify and I will do it

 

[Tenapenny]

Thanks Jones.

I have basis MT4 indys before but more used to trading price action so using an EA is a big leap for me.

Agree with all your points and whole point is for the EA to do the work and take the emotion out of trading.

Will be interesting if my discretionary PA method will help confirm the trades taken by the EA.

I have a pretty good internet connection here as the line tests have confirmed and about to switch to BT Affinity so hopefully np. Does SML offer VPS?

Yes, agree will move to live micro accounts once ive got my head around it all

Cheers

ST

SLM do not offer VPS at the moment, see here http://www.trade2win.com/boards/spr...ve-markets-spread-bet-mt4-95.html#post1303346 but you may be able to use a third party.

 

[kjen17]

This would interest me too

The advertising website would indicate December saw November's good result wiped out.


My own findings would tend to suggest the entry signals usually caught the trend in the right direction but there was not enough volatility in the daily movement to achieve full TP

I am wondering whether this is a pattern which will be repeated and therefore either to reduce TP next month or stay away for the entire time.

Maybe if Mark could supply the entry signals which he saw for the month of December 2009 I could carry out some more analysis as I have a record of the price OHLC for every 10 minute period during that month and can soon analyse and share my observations: idea:

Remember Dec 09 results were on original parameters without B/E stop - I think the loss would have been much less on current settings.

 

[wiseambitions]

Remember Dec 09 results were on original parameters without B/E stop - I think the loss would have been much less on current settings.

I have little doubt you may be right, if resetting SL to BE reduced some of the losses (although that could also have sometimes prevented TP being achieved on such days).

I would also be interested in testing whether a more moderate TP expectation, let's say 25, would have still resulted in better gains.

 

[MHK]

High all,

backtesting of the EA on tick data, not on the Metaquotes crap, shows very clearly, that a low TP and a too low BE will not lead to better results long term.

Best and most stable results are in the 40-47 range for TP and SL with a BE between 19-25 pips.
This is dependent on your brokers data feed and spread!

Reasons:

-a slow data feed will lead to lag in the indicator values and might not trigger the same trades as with a fast data feed

-a high spread(4+) will lead to missed BE and TP`s

Keep in mind, that Marc trades with an excellent MT4 broker with low spreads and a very fast feed.(PFG Best) from a VPS(CNS) with ultralow latency to this specific broker

A setting with a low RR, i.E 20TP and 40 SL is not delivering anywhere close to these results. In my tests just 50% of the best setting.

As i understand the posted live results have been achieved with different settings as the current ones and are not indicative.

To suspend trading during the Xmas and New Year holidays was never a mistake imho.

 

[speedtrip]

High all,

backtesting of the EA on tick data, not on the Metaquotes crap, shows very clearly, that a low TP and a too low BE will not lead to better results long term.

Best and most stable results are in the 40-47 range for TP and SL with a BE between 19-25 pips.
This is dependent on your brokers data feed and spread!

Reasons:

-a slow data feed will lead to lag in the indicator values and might not trigger the same trades as with a fast data feed

-a high spread(4+) will lead to missed BE and TP`s

Keep in mind, that Marc trades with an excellent MT4 broker with low spreads and a very fast feed.(PFG Best) from a VPS(CNS) with ultralow latency to this specific broker

A setting with a low RR, i.E 20TP and 40 SL is not delivering anywhere close to these results. In my tests just 50% of the best setting.

As i understand the posted live results have been achieved with different settings as the current ones and are not indicative.

To suspend trading during the Xmas and New Year holidays was never a mistake imho.

I agree a lot of of the traders i know down tools after US thanksgiving as lots of holidays are taken and as a result there is little volume out there and i remember seeing ranging markets but i was mainly trading NYMEX and DOW

ST

 

[speedtrip]

SLM do not offer VPS at the moment, see here http://www.trade2win.com/boards/spr...ve-markets-spread-bet-mt4-95.html#post1303346 but you may be able to use a third party.

Thanks Ten, I have a very good internet line here so not even sure if I require VPS. I have a 20:1 contention ratio on a ring with 8 meg line now and wef 18/11 should have up to 40 meg down and 10 up, 15:1 contention ration. Will see how it goes. The difficulty i guess is measuring the difference in performance and whether its worth movig across.

http://www.speedtest.net/result/1028657239.png

http://www.pingtest.net/result/28012278.png

 

[nubchai]

I'd be interested in the stats from last Nov-Dec too. It's probably smart not to trade from Christmas week through the end of the first week in Jan.

 

[Magicpip]

Thanks for your reply.

I don't understand the abbreviation "PM", please clarify and I will do it

PM means Private Message.

 

[tkbieber]

Thanks for your reply.

I don't understand the abbreviation "PM", please clarify and I will do it

PM means Personal Message. Send me a message and I'll send you info.

Just saw it was answered above. Oh well.

By the way, I'm back home so trying to get to everyone's inquiries.

Good luck everyone with trading this week.

 

[Geoff135]

High all,

backtesting of the EA on tick data, not on the Metaquotes crap, shows very clearly, that a low TP and a too low BE will not lead to better results long term.

Best and most stable results are in the 40-47 range for TP and SL with a BE between 19-25 pips.
This is dependent on your brokers data feed and spread!

Reasons:

-a slow data feed will lead to lag in the indicator values and might not trigger the same trades as with a fast data feed

-a high spread(4+) will lead to missed BE and TP`s

Keep in mind, that Marc trades with an excellent MT4 broker with low spreads and a very fast feed.(PFG Best) from a VPS(CNS) with ultralow latency to this specific broker

A setting with a low RR, i.E 20TP and 40 SL is not delivering anywhere close to these results. In my tests just 50% of the best setting.

As i understand the posted live results have been achieved with different settings as the current ones and are not indicative.

To suspend trading during the Xmas and New Year holidays was never a mistake imho.

So MHK what TP, SL and BE settings are you using as your optimum?