ForexMorningTrade System

[wiseambitions]

I notice it was another of those Mondays where not everybody got a starting signal

Mine seemed clear enough on Alpari UK and also on other charts available to me

As previously observed it's all due to the weekend break in data feed, some brokers stop for different times than others, and some keep a price quote going even if it's static or an hour or so after closing, and all of these differences are enough to jigger up the FMT indicators

Fortunately for those who did get a signal it turned out to be a winner.

 

[hammy66]

RedGuerrella quote "By the way hammy66, I give you a lot of credit. If you hadn't been posting your results, I wouldn't have been researching better settings."

RedGuerrella, thanks ! I'm glad you find my results useful for your trading, afterall this is the point of sharing information in this forum.

cheers !

 

[Jakof]

FMT for me today:

6:00 start, sell trade, BE+5 pips
6:15 start, sell trade, BE+5 pips
6:30 start, sell trade, No Trade
6:45 start time has been discontinued for now due to poor results.

total today +10 pips..

good luck all ..

This information you are giving means you are using FMT EA at different opening times and evaluating the results?
If so are you using the EA for in different chart (same currency of course) on the same broker?

Thanks for your input

 

[kjen17]

Stats for 01-24-2010



'Live' Accounts:

FMT 4.2, Short/Break Even, FXSolutions, dealing desk, 1.5970, 1.5870, 0.0 pips
My stats since 11-08-2010: 11 No Trades, 15 Break Evens, 17 Losses, 13 Profits, Total: -246.0 pips
Pips include slippage, using EA standard settings: 40 SL, 20 BE, 35 TP

01-21-2011, FMT 4.2, Short/Break Even, IBFX, non-dealing desk, 1.59682, 1.58684, -0.2 pips
My stats since 01-04-2010: 4 No Trades, 4 Break Evens, 4 Loss, 2 Profits, Total: -100.6 pips


Demo Accounts:

FMT 4.2, 3:Short/Break Even & 2:No Trade at non-dealing desk brokers:
PFG Best, 0.0
FOREX.com, 0.0
FXCM, 1.59703, 1.59703, 0.0
Alpari(US), 1.59711, 1.59711, 0.0
FXDD, 1.59698, 1.59698, 0.0

Decided to drop MB Trading, too many issues, mini lot is 1.0 instead of 0.1, missing data, not recommended.




Testing new tweaked settings, based on back testing. For more details, see Post #5659, page 708:
FMT 4.2 EA, GU M15 Chart, UK time zone.
Using PFG Best Demo Account, Settings: SL=40, TP=30, BE=20, BE+5 pips,

6:15 start, sell trade, 1.59744, 1.59440, hit TP= +30.4 pips ...
My stats since 01-20-2011: Total: +65.7 pips




2nd day these new settings do better than the standard settings.



By the way hammy66, I give you a lot of credit. If you hadn't been posting your results, I wouldn't have been researching better settings.

I like your settings. With reference to your post 5659, presumably with the hammy system one is supposed to divide the lotsize accordingly for each timeframe, so it does not have to be 9% instead of 2%, as you mentioned earlier though, subject to broker lotsize minimums/account size issues?

 

[Jakof]

16th August - LONG
Entry: 1.5613
SL: 1.5571
P/L: -41

---------------------

17th August - LONG
Entry: 1.5685
SL: 1.5645
P/L: -41

---------------------


18th August - SHORT
Entry: 1.5565
SL: 1.5525
P/L: +40

---------------------

19th August - LONG
Entry: 1.5567
SL: 1.5525
P/L: +42

I just bought the Trading system and reviewing your trades.
Why did you buy on Agust 19th.
Since the 6:15 bar, when it was done gave:
******* = 99.7
******= -117.4
I know we may have different brokers, but different date to this point..??
Am I missing something here? I love you trading system it looks great, I just need understanding to make sure it is profitable.

Thanks for your help

 

[Jakof]

I see that the indicators have been removed from the post, but the problem is that they remain within the quotes in your post

Aren't you the only one who can modify that quote since you replied to my post?
...I don't see how i can remove them from there..

 

[wiseambitions]

I just bought the Trading system and reviewing your trades.
Why did you buy on Agust 19th.
Since the 6:15 bar, when it was done gave:
******* = 99.7
******= -117.4
I know we may have different brokers, but different date to this point..??
Am I missing something here? I love you trading system it looks great, I just need understanding to make sure it is profitable.

Thanks for your help

I have checked the trading account and that day was actually a SHORT trade, not a buy, the account took 40 pips profit from going short and I think it's safe to say that the data you pasted was miss typed wherever you found it by human error on the author's part. The indicators said sell, and the entry price was the first number the TP was the second number which is 40 pips of 4 points decimal lower or 400 of 5 decimal points

 

[wiseambitions]

No trade today Alpari (UK) and FXDD.
40SMA had been rising and was turning down at 06.30GMT
and both FMT indicators were straddling their signal lines but price was dropping rapidly

I saw the 06.15 and 06.00 entry signals were Long but did not feel confident to deviate from the rules and go in at those times

 

[PipZombie]

No Trade IBFX and Forex.com live accounts

 

[GumRai]

Aren't you the only one who can modify that quote since you replied to my post?
...I don't see how i can remove them from there..

My post was responding to ihelfman's and not intended for you. ihelfman will have to use the edit function to remove them or contact a moderator to edit the post for him/her.

EDIT I have now deleted that post as ihelfman's post has now been deleted

 

[Icepop]

No trade Alpari Uk

 

[PipZombie]

This is an off topic question, but does anyone know what EOD Reconciliation is on a broker statement?

 

[GumRai]

This is an off topic question, but does anyone know what EOD Reconciliation is on a broker statement?

Isn't that just a report of all the days trades, realised profit/loss, and floating profit/loss ?
I get one every day from my broker EOD = End of day

 

[HOehlers]

My FMT EA has not taken a trade these past two days for me, although the indicators were favourable. Could this be because I had a pending (buy or sell stop) trade open? Even though these were manually entered and not set by another EA? If a manually entered pending order results in a conflict with the EA, does anyone know if I could open two GBP/USD charts in a single MT4 terminal and set up the EA and the manual orders separately in each?

Sorry for asking the question but if anyone knows the answer, it would save me some trial and error time. Thanks.

 

[PipZombie]

My FMT EA has not taken a trade these past two days for me, although the indicators were favourable. Could this be because I had a pending (buy or sell stop) trade open? Even though these were manually entered and not set by another EA? If a manually entered pending order results in a conflict with the EA, does anyone know if I could open two GBP/USD charts in a single MT4 terminal and set up the EA and the manual orders separately in each?

Sorry for asking the question but if anyone knows the answer, it would save me some trial and error time. Thanks.

I use forex.com and IBFX for my live account trading with the FMT EA. Monday and Tuesday did not have a trade.

 

[fx_]

My EA trigger yesterday a sell and today no trade

 

[wiseambitions]

GDP prelim figures for UK worse than expected. £ down 180 pips since first thing.

The pound will have no friends today, unless it is clearly oversold.

Glad FMT kept me out of trouble, it could easily have been SL today

 

[Adamus]

I had a sell but my software screwed up. That would have been $400 in the bank no problem, most likely with some positive slippage thrown in.

 

[HOehlers]

I use forex.com and IBFX for my live account trading with the FMT EA. Monday and Tuesday did not have a trade.

Thanks for the response. Monday was a close thing but today looked like a sell to me. I could be wrong and worried about nothing. I'll try again with EA and manual (not FMT) on separate charts on a live account and both on a single chart on a demo.

 

[Jakof]

No trade today Alpari (UK) and FXDD.
40SMA had been rising and was turning down at 06.30GMT
and both FMT indicators were straddling their signal lines but price was dropping rapidly

I saw the 06.15 and 06.00 entry signals were Long but did not feel confident to deviate from the rules and go in at those times

It shot down 200pips..most probably do to the Prelim GDP, which was obviously noy expected to be that low..