ForexMorningTrade System

[Kinger]

6 years, and counting .. part time though, if you count checking a chart every 15 mins ..

 

[c0py]

Uh, I thought he was a kind of symbol among english-greek people, specially those born in the sixties and seventies but maybe you are too young...
Kalimera!


Ok guys, is there anybody who want to ride Gbp/Usd or Eur/Usd on 16.30 like it's been suggested posts ago? It's not greed, it's just testing... :whistling
Could it be thought as a "spin-off" of FMT?

Yeah, i have set mine up for a trade on the EUR today.. let's see how it goes

 

[Mario Loops]

Uh, I thought he was a kind of symbol among english-greek people, specially those born in the sixties and seventies but maybe you are too young...
Kalimera!


Ok guys, is there anybody who want to ride Gbp/Usd or Eur/Usd on 16.30 like it's been suggested posts ago? It's not greed, it's just testing... :whistling
Could it be thought as a "spin-off" of FMT?

No he is ok its just i dont follow him that much more for my wife than me(i am 40yrs)so not that young any more

 

[Mario Loops]

Fabius
Tell me about yourself then where you from

 

[Kinger]

Fabius, thats a pretty cool place you have over looking the wooded valley ..
Beats my view anyday !

 

[lotterbe]

Hi everyone,

As people have been talking about money management lately for FMT, I thought I’d share my thoughts.

I did a bit of manual back-testing when I first started using FMT to see if having a trailing stop would help. I tried the following scenarios using data from June 1 to August 27 (3 months worth).

There were 48 trades in total.

Win Ratio = Number of winning trades / total number of trades
(winners do not include breakeven trades)

Strategy 1
------------
Default settings
Target 40
Stop 40
No Trailing Stop
Win Ratio 68%
Total Pips 720

Strategy 2
------------
Target 40
Stop 40
Trailing Stop 1: move to -20 when it reaches +20
Win Ratio 66.7%
Total Pips 820
Even though the win ratio was slightly lower due to a losing trade that didn’t occur in scenario 1, the total pips was greater.
So this strategy does seem to help minimise the losing trades overall.

Strategy 3
------------
Target 40
Stop 40
Trailing Stop 1: move to -20 when it reaches +20
Trailing Stop 2: move to +20 when it reaches +35
Win Ratio 72.9%
Total Pips 800
More winners, but it stopped some from going to their full target, hence less pips than strategy 2.

Strategy 4
------------
Target 40
Stop 40
Trailing Stop 1: move to breakeven at +30
Win Ratio 60.4%
Total Pips 760
Hmmm... less winners than default, though a few more pips

Strategy 5
------------
Target 40
Stop 40
Trailing Stop 1: move to breakeven at +35
Win Ratio 64.6%
Total Pips 720
Again, less winners than default, but same number of pips


There are heaps more possible strategies of course, but I got tired of doing it!

Admittedly this is only 3 months of data, so one can’t really draw any definite conclusions. But what it showed me is that the default strategy is by far the easiest in terms of walk away, stress free trading. There’s no point mucking around with money management if it’s stressful, time-consuming and only saves a few pips overall. In fact, this is the best strategy I’ve ever seen straight out of the box with no tweaking – awesome Mark!

However, I did decide to use strategy 2 because I thought the extra pips made it worthwhile, and because I’ve had so many losing trades elsewhere that I’ve become overly paranoid. Plus I have an automatic money-manager so I can walk away from it. It’s called ManageTPv2-4.mq4 and works really well - if anyone wants a copy you can find it here http://www.forexfactory.com/showthread.php?t=9553

Please don’t think I’m recommending using a trailing stop though – I’m just sharing the limited amount of back-testing that I’ve done, which could have given totally different results if it had been for a whole year for example.

I think we should all wait for Mark’s expert analysis and experience before making any major changes to his strategy, which already works brilliantly.

 

[Mario Loops]

Fabius, thats a pretty cool place you have over looking the wooded valley ..
Beats my view anyday !

Kinger
im no good with computors still getting the hang of them,i clicked on your profil once i read you said nice picture Fab,i thought what,anyway i saw you say IG do you use them

 

[Kinger]

I use them all the time, most of my trades I use them for, no tax in the uk then. ie spreadbetting.

 

[Mario Loops]

I use them all the time, most of my trades I use them for, no tax in the uk then. ie spreadbetting.

Yes i know that bro,but how have you been doing with your trading,do you know they trade against you,freeze your computor on news,I cashed out 15,000 from them i never won a trade for about 3 months,they are scum

 

[Kinger]

Yes i know that bro,but how have you been doing with your trading,do you know they trade against you,freeze your computor on news,I cashed out 15,000 from them i never won a trade for about 3 months,they are scum

I’ve never had an issue so far, sometimes during news it’ll freeze, but that’s to be expected. Been with them for about 5 years.
My account size is a little more but I only put on trades about 4 times a week that go on for weeks and pull money out every 6 months or so.

When you say they trade against you, do you mean they hedge your bet ? because that’s what they all do. Large trades, ie a bet over a certain amount is flagged, and someone their end needs to hedge it just in case. But in the end win or lose, they always win !

I used to know a coder who worked for another spreadbetting company I wont mention the name, but the tricks they pull are just unbelievable.
Stop hunting is done by all brokers etc, but they can slow down their system at any time when obvious money making situations occur.
You need to play their rules I’m afraid to make any money yourself.

I’d never use it for this strat though, asking for trouble.

 

[Mario Loops]

To Kinger
ok its going well for you,i had the pleasure of trading with an insitutional trader,and i told him the problems i was having and he just laughed then told me all the dirty tricks they do,and yes they do trade against you not hedge

 

[Fabius]

Fabius, thats a pretty cool place you have over looking the wooded valley ..
Beats my view anyday !

Thanks. This is the view from the terrace of my family house on the mountains (1.450 mts). It's a very nice place very isolated and surrounded by nature.
Now I am back to Milan where I am currently living.

Fabius
Tell me about yourself then where you from

Well, don't think that people here would be very interested in it but I'll try my best not to bother anyone to death
I am your age, that means I am forty, even though I feel (and look) much younger :innocent:

I started studying trading 3 year ago and started with options on stocks, etf and indices (or indexes? I never know if you add the english plural in "S" to latin plural words or use the latin plural), and still do.
I started with forex last year to have something faster to use than options.

I am a teacher of different oriental massages (ayurvedic, Hawaiian, Indonesian, Japanese Hot Stone) and till two years ago I had an exoteric bookstore that I sold because I didn't stand the weird customers I had any longer .

Three years ago I decided to study History at University and then I want to take a specialization in medieval history.

My dream is to raise enough money by trading in order to create a endowed institution to funds projects in the developing countries such as schools, surgeries, water wells and so on: this is the aim I want to give to my life.

With this system and few others I developed on my own and taking from others, I guess I am now on the right path (finally, after spending a lot of money in learning and studying).
Uh, Fabius is just the ancient (latin) version of my name that is Fabio but since my friends call me Fabius, I decided to use it as nickname because I believe I will find other friends here too :smart:
It's good to have a place to share trading experiences with people like you

Last thing: if my way of writing seems to belong to a rough barbarian, it's because English is not my first tongue. Italian is my second. The first one is the one in my mouth :cheesy: (I told you that I don't feel like having forty? )

 

[Kinger]

To Kinger
ok its going well for you,i had the pleasure of trading with an insitutional trader,and i told him the problems i was having and he just laughed then told me all the dirty tricks they do,and yes they do trade against you not hedge

It’s just too unregulated, but spreadbetting is a bit dirty I think.
All really annoying, its hard enough not losing money from your system never mind being up against it with your broker too.

Imagine withdrawing £100 from a cash point and it giving £60 instead..!

 

[Dean31]

Just some food for thought...

From the backtest we can assume that the system averages around 200 pips per month. If we risk 5% per trade and we keep up these results you can expect around 25% per month. Obviously some months will be more and some less but in the end you should average 25% - not bad!
Nice to know that if you win your 1st 2 trades of the month, you've made 10% already... Similarly - As soon as you're up 80 pips for the month (net 2 trades profit) you've made your 10%...

Regards
Dean SA

 

[mitchp]

Mark,

Your fix on the EA worked, it took the trade last night perfectly. Thanks again for all your great customer service.

Mitch:clap::clap:

 

[Kinger]

lol, I've just had an email advertising this system, it reads:

Do you dream of the day when you wake up,
open a few positions and then take the rest
of the day off to do whatever you want?
The guy here claims he found a way to make
this dream happen, check it out here:
http://blah blah....

some element of truth I suppose ..

 

[Mario Loops]

It’s just too unregulated, but spreadbetting is a bit dirty I think.
All really annoying, its hard enough not losing money from your system never mind being up against it with your broker too.

Imagine withdrawing £100 from a cash point and it giving £60 instead..!

I have moved to FXCM spread betting,there are no dealing desks,and an other one i have heard is good ETXcapial.co.uk,no more freezing on news and problems i had with them i used to put an order in and it would trigger i would ring them up and say what happened there i got triggered but not on my charts they would say oh its the tick chart it was quick,becareful man

 

[Mario Loops]

Dear Fabio
Wow i said tell me about yourself,not your life story,lol,anyway excellent and i love your dream brother and wish you the best with that,i will send you a private message with my email address i would like to send you something,hopefully of value

 

[Kinger]

yes I heard etx capital are good too.

plus you have the bonus of the company going bump and you losing all your money !
great isnt it

 

[Fabius]

Dear Fabio
Wow i said tell me about yourself,not your life story,lol,anyway excellent and i love your dream brother and wish you the best with that,i will send you a private message with my email address i would like to send you something,hopefully of value

Whoops...
I guess I am the result of my life so I thought this was the best way to tell about myself :innocent: