AGREED !.. I think Mark set the price very reasonable IMO.
because, an outsider will have to buy FMT $97, to get Turbo $67, so they have a $164 initial investment... still pretty cheap for a great system that works....
25 pips for me last night. I used fluegel's settings.
I just started testing TMT and do like the partial close feature in particular. If the trade hits a pip level that you set then you can close for example 50% of the trade and lock in those pips. After that you have a variety of exit options for the remaining portion ofthe trade.
I think TMT is worth the price. But I also think you can make good pips with FMT.
I just started testing TMT and do like the partial close feature in particular. If the trade hits a pip level that you set then you can close for example 50% of the trade and lock in those pips. After that you have a variety of exit options for the remaining portion ofthe trade.
I think TMT is worth the price. But I also think you can make good pips with FMT.
Actually, Dec. 2 is when I added this feature to BE + 7 pips so yes, that would have been a 7 pip profit instead of 0. I hate to see all those pips go away if it goes to at least 20 pips in profit.
But how many of your full tp's would have stopped out at BE+7?
RedGuerrilla
Active member
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- 218
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- 1
12-03-2010
FMT 4.1
Profit
+34 pips
Total: +85 pips - since 11-07-2010
Stats: 6 BE, 5 No Trades, 6 Profits, 3 Losses
Broker: FXSolutions - 4 decimal point charts
Settings: 40 SL, 20 BE, 35 TP
FMT 4.1
Profit
+34 pips
Total: +85 pips - since 11-07-2010
Stats: 6 BE, 5 No Trades, 6 Profits, 3 Losses
Broker: FXSolutions - 4 decimal point charts
Settings: 40 SL, 20 BE, 35 TP
Wasn't on the mailing list got it now.
chrisheath
Member
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There is another 'optimising' strategy - I think from the world of gee-gees. If, say, the average pips gained per month is +100, is there value in not putting any more trades on, if the early monthly gain is, say +200? Ie, statistically, is there more possibility of losing for the rest of the month. What might support this, is if there is a bias of some kind in the first part of the month. Just a thought. (It may be particularly applicable to December.)
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wiseambitions
Established member
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I think it would be interesting to have some discussion around using FMT as a means of building up capital and not just creating income.
I have done a lot of work on this area, and of course everyone who has experienced it would agree that the biggest killer to an account is drawdown. Increasing your lot size then suffering an immediate loss is devastating. A high percentage of winning trades is therefore key to your success, and the preservation of your account whatever % risk you keep to.
In my calculations, going back over the last 100 possible trades, using my broker's prices, considering the spread too, which goes back exactly 6 months to the early days of June, I found that using 35TP/40SL resulted in 73 good trades and 27 bad ones. Altogether this made 1475 pips
Whilst this is pretty excellent, well done FMT!, I also checked with a lower target of 25TP, leaving 40SL. I found there were fewer losers, with 85 good trades, and a production of 1525 pips. Not a big difference, even if this one appears slightly better.
I then worked out the growth in capital at various risks, eg 2, 5, 7 and 10 percent per trade. Although there is only 50 pips difference, and I don't think that is the main reason for the account rolling up better, there are fewer drawdowns, and the result at the end of 100 days is quite striking. Try it for yourselves in a spreadsheet and see what happens.
Whether you use FMT basic or turbo (I don't), I think the discussion here is predominantly about getting more pips, but I believe the % of winning trades has much more relevance, even for a similar number of pips at the end of several months, if you are looking to roll up wealth rather than take an income. The exercise has been very helpful to me and I know now how I am going to apply these findings in my own future plans.
I have done a lot of work on this area, and of course everyone who has experienced it would agree that the biggest killer to an account is drawdown. Increasing your lot size then suffering an immediate loss is devastating. A high percentage of winning trades is therefore key to your success, and the preservation of your account whatever % risk you keep to.
In my calculations, going back over the last 100 possible trades, using my broker's prices, considering the spread too, which goes back exactly 6 months to the early days of June, I found that using 35TP/40SL resulted in 73 good trades and 27 bad ones. Altogether this made 1475 pips
Whilst this is pretty excellent, well done FMT!, I also checked with a lower target of 25TP, leaving 40SL. I found there were fewer losers, with 85 good trades, and a production of 1525 pips. Not a big difference, even if this one appears slightly better.
I then worked out the growth in capital at various risks, eg 2, 5, 7 and 10 percent per trade. Although there is only 50 pips difference, and I don't think that is the main reason for the account rolling up better, there are fewer drawdowns, and the result at the end of 100 days is quite striking. Try it for yourselves in a spreadsheet and see what happens.
Whether you use FMT basic or turbo (I don't), I think the discussion here is predominantly about getting more pips, but I believe the % of winning trades has much more relevance, even for a similar number of pips at the end of several months, if you are looking to roll up wealth rather than take an income. The exercise has been very helpful to me and I know now how I am going to apply these findings in my own future plans.
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wiseambitions,
very interesting study, I like the less DD part and is why I originally traded FMT with TP=30 instead of 40, I like less losses, even if the wins were smaller, there were more of them. I'm wondering now if TP=25 would be optimum with maybe SL= 35, to make DD even less but profits the same ? It seems to me that most always if trade was reaching the 35 SL, it would also hit 40, of course not always ! But you save 5 pips per loss.
Thanks for your input !
cheers !
very interesting study, I like the less DD part and is why I originally traded FMT with TP=30 instead of 40, I like less losses, even if the wins were smaller, there were more of them. I'm wondering now if TP=25 would be optimum with maybe SL= 35, to make DD even less but profits the same ? It seems to me that most always if trade was reaching the 35 SL, it would also hit 40, of course not always ! But you save 5 pips per loss.
Thanks for your input !
cheers !
mudder1310
Junior member
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Hi all. First post. I've been manually testing since mid November, just the stock settings with no BE, and seem to be having better luck than others. For example the last two weeks of Nov had 5tp, 4nt, just 1 loss, and the loss didn't hit the sl, I just closed it at -5 when it had run most of the day. A grand total of 187 pips. I'm going to guess that part of the issue is some slight differences because I do it by hand. So far Dec has brought winners ever day in both GBPUSD and EURUSD, all with the stock 40/40 settings. I think perhaps the BE might be choking off some of the trades early.
This entire thread, while a long read, has been interesting and exciting. Maybe a bit contentious. Always entertaining.
This entire thread, while a long read, has been interesting and exciting. Maybe a bit contentious. Always entertaining.
hmkadioglu
Newbie
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Hi
I just start live trading Turbo Morning Trade.
Do you have an other Forum for Turbo Morning Trade?
Kindest Regards
Hussein
I just start live trading Turbo Morning Trade.
Do you have an other Forum for Turbo Morning Trade?
Kindest Regards
Hussein
Great exercise!!!! Good Job....would you have a B/E on that or get rid of it? Is this what you will be trading now?:idea: Also, what percent would you risk?
hi mudder ! thx for posting..
I wish I could trade this system manually but unfortunately it's 1:30 am. where I live when it's time to pull the trigger. Do you trade EurUsd at same start time, 6:30 London time ?
Hope to see more posts from you , welcome !..
wiseambitions
Established member
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1) I have said before that as I prefer not to have to stand over the computer (I don't use MT4 with my present broker), I don't currently reset the SL to BE. It seems to me that there are too many occasions where doing so shuts you out of eventual profit if the price retraces. And if one accepts a lower TP there's little point going to BE when you're nearly there
2) As my main intention right now is to build up capital I believe I should trade on the settings I have described
3) Risk. I have heard it said most professionals would say never risk more than 5 per cent of your capital on one trade. Having had bad experience in the past, usually for acting upon emotions rather than according to rules, I bow to their superior wisdom. However I believe that the FMT system is excellent at catching the trend in the right direction. I have only found with at target TP of 25 there were two instances of double consecutive losses in 100 trades in 6 months. With a higher target TP there is not only the history of hitting SL more often, the chances of doing it two three or four times in a row is also significantly enhanced. This inclines me to be more adventurous with my risk, so long as I go for a lower target profit.
==============
I believe with the introduction of Turbo, this week has been one where a lot of number crunching has been going on. I think we're at the risk of getting carried away with back testing, and I think it sensible to not be always amending the settings once happy with them. Nevertheless it is right to monitor performance over the last 10,25,50 and 100 trades, both in respect of pips gained and the % of winning trades and to adjust if it becomes evident market conditions have really changed.
Thanks...great observations...I will monitor and implement your recommendations.Thanks again.
hmkadioglu
Newbie
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AGREED !.. I think Mark set the price very reasonable IMO.
because, an outsider will have to buy FMT $97, to get Turbo $67, so they have a $164 initial investment... still pretty cheap for a great system that works....
I agree! That's really cheap for what you can earn from it :cheesy:
