Yes, that's right, Smart Live Markets are UK time + 1 Hour
Have you downloaded the Smart Live Metatrader or the Smart Live Spread Bet MT4 ?
Note the first uses standard lots, whereas 1 lot on the second equals 1 Pound per pip.
Yes, that's right, Smart Live Markets are UK time + 1 Hour
Have you downloaded the Smart Live Metatrader or the Smart Live Spread Bet MT4 ?
Note the first uses standard lots, whereas 1 lot on the second equals 1 Pound per pip.
wiseambitions
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Just a message for anyone watching charts and thinking about trading today.
(I am not intending to proceed due to UK Bank Holiday which I think may mean unpredictable movements in low volume)
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I have noticed some broker feeds stopped about 18.00GMT on Friday evening. This may have been due to US New Year Holiday. Usually such feeds continue until at least 21.00GMT and later on a Friday. The consequence of this is that there may have been an unusually long weekend gap in the information flow. It affects FMT indicators which involve a collection of 60 times 15 min periods.
As we are now, about 06.15 my Alpari MT4 chart shows one indicator above and one indicator below the signal line. Obviously this would be a no trade if it still exists at 6.30
On Net Dania, I have noticed their data for Friday continued until 22.00GMT and this affects their display of the FMT indicators (without templates of course), to the extent that both those are below the signal line, technically calling for Go Short.
Both in Alpari, and in NetDania, the 40MA in 15m chart is falling and this might also be construed a short signal
Nevertheless price movement since start of Sunday night trading has been within a narrow band, 50 pips or so less than Friday's close.
We have this sort of discussion most Mondays, where some adherents get starting signals, others don't. Like I say I'm staying away, believing the market will be quiet, but think it looks bearish.
Happy new Year to all
(I am not intending to proceed due to UK Bank Holiday which I think may mean unpredictable movements in low volume)
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I have noticed some broker feeds stopped about 18.00GMT on Friday evening. This may have been due to US New Year Holiday. Usually such feeds continue until at least 21.00GMT and later on a Friday. The consequence of this is that there may have been an unusually long weekend gap in the information flow. It affects FMT indicators which involve a collection of 60 times 15 min periods.
As we are now, about 06.15 my Alpari MT4 chart shows one indicator above and one indicator below the signal line. Obviously this would be a no trade if it still exists at 6.30
On Net Dania, I have noticed their data for Friday continued until 22.00GMT and this affects their display of the FMT indicators (without templates of course), to the extent that both those are below the signal line, technically calling for Go Short.
Both in Alpari, and in NetDania, the 40MA in 15m chart is falling and this might also be construed a short signal
Nevertheless price movement since start of Sunday night trading has been within a narrow band, 50 pips or so less than Friday's close.
We have this sort of discussion most Mondays, where some adherents get starting signals, others don't. Like I say I'm staying away, believing the market will be quiet, but think it looks bearish.
Happy new Year to all
FMT was a winner on demo today. Hopefully we have the bad run behind us, and we can't complain about the timing since most of us were not trading during the holidays. Looks like FMT may be back to it's old self after that losing streak the past couple weeks. I think I will go live again tomorrow since most of the banks will be back in action.
busfarehome
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Thanks for the time confirmation GumRai.
When I signed up I signed up for both accounts as am unsure which to use.
It was my first day trying this platform and system.
Got a sell signal at 07:31
Sold at 1.55468
S/L 1.55868
Target 1.55111
Target of 35 points was hit about 1 hour later but the profit was £230.16.
I cannot work out why as I sold at £1. per point.
Your comment regarding the 2 different platforms has made me wonder if I should be using the other platform.
I am also finding the 5 digits after the . difficult after there only being 4 digits after the . on the Finspreads trading platform.
wiseambitions
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Well done.
I am interested to know which broker data gave you a sell signal, as my information was conflicting. I noticed that both Alpari (UK) and FXDD were telling me signal 'M...' was too high at 06.30 whereas indicator 'C...' was pointing to sell.
It's a typical Monday morning syndrome, coming back to what I have been saying for a few weeks now about the FMT system drawing upon 10 hours of price information, and some brokers stopping for more time than others over the weekend (the 06.30 system therefore requires 3 and half hours more data pre midnight). As everybody trades with a multitude of brokers doing different things at the weekend we don't all become in agreement as to what the readings say until we get well beyond the Monday trading window.
Lady Forex
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I did not get a trade today.
if you look in the 'journal' of your MT4, you will likely see a 're-quote' or 2 causing the delay before the trade was actually taken. I have seen a difference of 10 pips in that 1 minute delay, causing you to miss your TP or BE and resulting in a SL that you should not have suffered. Of course it could happen that the delay helped you get in at a better price and gave you a good result. But FMT is designed by Mark to trade at exactly 6:30 London time and that's what your broker should be giving you.
cheers !..
Thanks!, I've been wondering about those differences and I have missed a few TP's because of this
I got a sell with Go Markets. They're from Australia, and they closed on Jan 1/11 at 0.00 with GMT shift 2
Perhaps unlike US and European brokers, they were open for a few more hours on Friday.
Tenapenny
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Use the spread bet MT4 if spread betting is what you will choose when you go live. It looks like your profit is in a standard lot in dollars so £230 would be about right. Don't worry about 5 digits, as long as you allow for it manually or if using the EA it takes it into account automatically.
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wiseambitions
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That would be a valid reason. Netdania (a chart supplier - not a broker) lined up to sell ever since 05.00GMT due to having closed Friday at 22.00 and opened Sunday night at 21.30 (funny overlap I agree). However the price at 06.30 would still have been a favourable start point. I wonder whether Mark Fric got a trade, we'll find out when he writes his journal, and if he did and got a win he's got a head start on 90% of the other members
busfarehome
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Thanks again tenapenny for your help.
I expected there to be a few teething problems (all caused by me not FMT) on the first day of trading but feel as though it is all set up correctly now.
I intend to trade manually all this week, during that time I can read the EA manual and try to get familiar with it and perhaprs try it out next week.
Although I don't mind getting up early and am in front of the screen anyway as I have plenty do online.
Which method do you and other FMT users prefer to use, manual or EA?
I expected there to be a few teething problems (all caused by me not FMT) on the first day of trading but feel as though it is all set up correctly now.
I intend to trade manually all this week, during that time I can read the EA manual and try to get familiar with it and perhaprs try it out next week.
Although I don't mind getting up early and am in front of the screen anyway as I have plenty do online.
Which method do you and other FMT users prefer to use, manual or EA?
Note what I said in my previous post. If you have both Smart Live Markets on your desktop, you will see that one is named Smart Live Metatrader, this one uses standard lots. The other is called Smart Live Spread Bet MT4 and this one is the one where 1 lot is the same as betting 1 Pound per pip. If you intend to use the spread-betting platform, it is probably best to remove the other one as it can be confusing. I know that I was confused at first as I thought that I had downloaded he spread-betting platform, but I hadn't. Luckily I was only on demo to start with, so I realised that there was something wrong and so when I opened a live account it was the right platform.
Any of you with a live spread-betting account, if you've made a loss and entitled to the up to 300 Pounds cashback with Smart Live Markets, don't forget to put in your claim. I seem to remember that you only have a week to claim.
Tenapenny
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It's horses for courses really. For me, I use the EA. My days of getting up early and screen watching are over. I do some other day and swing trading at my leisure, so early starts are few and far between.
if you look in the 'journal' of your MT4, you will likely see a 're-quote' or 2 causing the delay before the trade was actually taken. I have seen a difference of 10 pips in that 1 minute delay, causing you to miss your TP or BE and resulting in a SL that you should not have suffered. Of course it could happen that the delay helped you get in at a better price and gave you a good result. But FMT is designed by Mark to trade at exactly 6:30 London time and that's what your broker should be giving you.
cheers !..
Thanks. They're not in Journal, I guess too old, but will know where to look next time it happens. I thought this could only happen with dealing desk brokers and thought Alpari UK was ECN, or it may depend on what sort of account one has (Classic is ECN I think, but don't know about demo). But, as I'm using a demo account, doesn't that suggest that you are suggesting that even if it is dealing desk, that Alapri are messing with my account even though it is a demo? Would have thought they have better things to do!
I'm only questioning because I want to know why/what to look for/to understand what's happening and why.
Best
Just thought worth drawing attention to the fact that Mark has added this NEW functionality FOC to BOTH FMT and Turbo versions. Release of Turbo as a new product caused some controversy as to whether this was contrary to the 'free lifetime updates' claim. I would view this as adding new functionality, which is more than an update, done without charge.
That is great to see/commendable.
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wiseambitions
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I wonder if you may be able to recalculate the figures for November and December to cancel the BE resets. I am of the opinion that it may have prevented TP more often than it prevented SL. However this observation relates to trades signalled and exits priced by my own broker - there is bound to be variety between members according to the brokers they employ
