ForexMorningTrade System

[oldie]

Yes it took until just after 08.30GMT, 2 full hours after FMT entry, 90 mins after Europe opening and 30 mins after London opening for the action to occur. I think there becomes a time when the FMT effect has worn out, and I don't know how long that might be after entry, perhaps it's shorter or longer than 2 hours (?) and thereafter I think it becomes a random outcome and you're in the lap of the forex gods. I understand for this reason at least one competitor system requires you to forcibly close out your trade at a set time if SL or TP has not already been hit.

Whether or not you got a signal this morning I believe was entirely down to who is your broker, his trading times, and the break in data feed between closing late Friday and opening late on Sunday night. FMT requires 15 hours of information for 60 candles, and ordinarily this goes back to 15.30 on the previous day. I understand another system goes with 10 hours of information, and a simple MA, but even there I found the short signal only existed with a few brokers, so the consensus of all my 4 sources as well as the FMT template (seeing I have no EA running) still said stay away. Better to not trade than have a loss, but hopefully the next call will be right.

I am not quite sure why you are referring to FMT not meeting conditions until 2 hrs. after FMT opening time - FMT will ONLY open a trade if conditions are met at the OPENING of the 06:30GMT candle - if conditions are not correct then NO TRADE for that day. Perhaps ypu are trading manualy but you should still be adhering to the system.
Cheers Oldie

 

[oldie]

Very creative system! How did you use the magic numbers? I try to do the same on my demo using 4 EAs. But I couldn't do it. It still showed only 1 EA. So I tried to do it manually, but it did not work very well. Can you tell me how you use the magic numbers to get 2 EAs with one broker. Thanks.

You must have an exclusive Magic No. for each EA on EACH chart - it is not clear whether you are trying to attach 4 EA's to the one chart or whatever!

Cheers Oldie

 

[F-razor2]

You must have an exclusive Magic No. for each EA on EACH chart - it is not clear whether you are trying to attach 4 EA's to the one chart or whatever!

Cheers Oldie

Each chart must have a different magic number.

 

[RedGuerrilla]

Each chart must have a different magic number.

Thanks for the help Oldie and F-razor2 . . .

 

[RedGuerrilla]

'Live' Accounts:

01-10-2011, FMT 4.2, No Trade, FXSolutions, dealing desk, 0.0
My stats since 11-08-2010: 9 No Trades, 11 Break Evens, 15 Losses, 11 Profits, Total: -232 pips
Pips include slippage, using EA standard settings: 40 SL, 20 BE, 35 TP

01-10-2011, FMT 4.2, No Trade, IBFX, non-dealing desk, 0.0
My stats since 01-04-2010: 1 No Trades, 1 Break Evens, 2 Loss, 0 Profits, Total: -83.8 pips
Pips include slippage, using EA standard settings: 40 SL, 20 BE, 35 TP



Demo Accounts:

01-10-2011, FMT 4.2, Short/Profit at non-dealing desk brokers:
PFG Best, 1.55371, 1.55020, +35.1
FOREX.com, 1.55370, 1.55020, +35.0
MB Trading, 1.55378, 1.55018, +36.0

01-10-2011, FMT 4.2, No Trade at non-dealing desk brokers:
FXCM, 0.0
Alpari(US), 0.0
FXDD, 1.54369, 0.0




It seems that when the brokers start and end their data feeds for the weekend might have an impact to mess up the indicators. Looking at Mark's broker, PFG Best, they had a 48 hour gap compared to FXDD who had a 49 hour gap. It was enough for PFG Best to go short with a profit, and FXDD to have a no trade.

PFG Best 48 Hour Gap - Short/Profit
Foxex.com 48 Hour Gap - Short/Profit
MBT 48 Hour Gap - Short/Profit

IBFX 48 Hour Gap - No Trade
FXSolutions 48.5 Hour Gap - No Trade
FXDD 49 Hour Gap - No Trade
Alpari(US) 49 Hour Gap - No Trade
FXCM 49 49 Hour Gap - No Trade

It seems those with more data (48 Hour Gap) did better than those with less data (48+ Hour Gap).
IBFX had a 48 hour gap, but it had two in-between gaps of 18 and 15 minutes for a total data gap of 48.5 just like FXSolutions. Seems that a half hour gap is enough to mess up the indicators.

These in-between gaps happen to all brokers. Sometimes the servers crash or they do updates.
On 12-20-2010 Post 5074, I notice the biggest gap of all, a 4 hour gap on the demo of PFG Best, but the live server was okay.

"PFG Best (Live) had a Long signal (Mark’s trade), but PFG Best (Demo) had a No Trade. This last Sunday, PFG Best (Demo) had a data gap, it opened 4 hours late. But PFG Best (Live) did not have this data gap. The data gap on the PFG Best (Demo) affected the indicators to give a No Trade signal."

This kind of gap is rare. But these smaller gaps can add up and are unpredictable. They don't happen just on Mondays. In the past I've had a trade on a Tuesday, and one on Thursday, when they were different than Mark's trades.

Thanks wiseambitions for input, it's greatly appreciated . . .

 

[Lady Forex]

I have No Trade.

 

[bwg]

no trade on Alpari UK

 

[bouzo132]

no trade IBFX live

 

[wiseambitions]

I am not quite sure why you are referring to FMT not meeting conditions until 2 hrs. after FMT opening time - FMT will ONLY open a trade if conditions are met at the OPENING of the 06:30GMT candle - if conditions are not correct then NO TRADE for that day. Perhaps ypu are trading manualy but you should still be adhering to the system.
Cheers Oldie

Sorry I think you didn't understand the point the member had raised to which I had responded. 'The effect FMT is exploiting' is the breakout in price in the direction which FMT has identified at the time of entry. If you open an FMT trade at 6.30GMT and it's neither hit stop loss nor profit target within period of time after London Opening, then we were suggesting the inertia had fizzled out, and that the FMT effect was not working that day. If you stayed in the trade the outcome was random, and that perhaps you needed to think whether to exit rather than gamble at that time - hence some systems have a rule to close out such a trade at a set time.

 

[PipZombie]

Sorry I think you didn't understand the point the member had raised to which I had responded. 'The effect FMT is exploiting' is the breakout in price in the direction which FMT has identified at the time of entry. If you open an FMT trade at 6.30GMT and it's neither hit stop loss nor profit target within period of time after London Opening, then we were suggesting the inertia had fizzled out, and that the FMT effect was not working that day. If you stayed in the trade the outcome was random, and that perhaps you needed to think whether to exit rather than gamble at that time - hence some systems have a rule to close out such a trade at a set time.

I like your thoughts on this.

 

[hammy66]

FMT for me today:

6:00 start, No Trade
6:15 start, No Trade
6:30 start, No Trade
6:45 start, buy trade, hit SL=44

cheers !

 

[wiseambitions]

I like your thoughts on this.

Thanks, we have learned a wealth of information on here together in the last 3 or 4 months, with our own observations and research, so hopefully it will help everybody get the best out of the system and get to the end of 2011 substantially enriched :smart:

Perhaps some work on how long winning trades usually take to close out could be used to determine whether we could reduce the losers if time comes into it (e.g. that the reasons for opening the trade and being in the trade have ceased to be valid after say 09.00 and that it is more often right than wrong to exit as best as possible when a certain amount of time has elapsed).

 

[tkbieber]

Thanks, we have learned a wealth of information on here together in the last 3 or 4 months, with our own observations and research, so hopefully it will help everybody get the best out of the system and get to the end of 2011 substantially enriched :smart:

Perhaps some work on how long winning trades usually take to close out could be used to determine whether we could reduce the losers if time comes into it (e.g. that the reasons for opening the trade and being in the trade have ceased to be valid after say 09.00 and that it is more often right than wrong to exit as best as possible when a certain amount of time has elapsed).

I've seen a trade last for 24 hrs before it ended in a win. We almost need a computer program to test all the hundreds of variables.

 

[F-razor2]

I've seen a trade last for 24 hrs before it ended in a win. We almost need a computer program to test all the hundreds of variables.

I personally think that once you made the decision you are in and you have to wait for the stop or take profit. If you start to interfere you let your emotions rule the trade.

 

[Lady Forex]

Buy with ATC Brokers (ECN)

 

[wiseambitions]

In on a long too, at 06.30, hoping for the best. 06.00 would have been optimum entry this morning, with a 10pip advantage. As well as FMT critical indicators, others seem to point up, including 40SMA on 15m

 

[Flourish]

In on a long too, at 06.30, hoping for the best. 06.00 would have been optimum entry this morning, with a 10pip advantage. As well as FMT critical indicators, others seem to point up, including 40SMA on 15m

Hope for the best is gambling for this trade. I hesitated to place my trade today but I did although my own indicators are pointing to the same pattern like yesterday.

 

[trader578]

In on a long too, at 06.30, hoping for the best. 06.00 would have been optimum entry this morning, with a 10pip advantage. As well as FMT critical indicators, others seem to point up, including 40SMA on 15m

The funny thing is I entered at 6:00 at 1.5629 and it moved to BE+7, so that trade is out. My 6:30 trade at 1.5643 cost more, but it never moved to BE, and so it is still in the trade and may end up with the best profit today. I guess with FMT price is not the only thing that is important - timing is just as important!

 

[F-razor2]

I agree, timing is critical!

 

[Lady Forex]

I am out with plus 7