ForexMorningTrade System

FMT for me today :

6:00 start, No Trade
6:15 start, No Trade
6:30 start, sell trade, hit TP +30 pips
6:45 start, sell trade, hit TP +30 pips

total today +60 pips ..

total for the week so far +243 pips..

Hey Hammy , What are you SL ?
 
Quote:
Originally Posted by chrisheath
Hi,
I am currently trading 40 ST , with 50% off at 10 pips, (then BE for rest) 50% off at 28 pips. I was slow on the draw today (taking profit), so did considerably better.

I like the steady consistent wins, low drawdown, and low number of losses. (OK Xmas wasn't so good). And yes, total pips is less, but who cares? I can trade a bigger size, with a clear mind. I trade 2% on shorts, 1% on longs.

Regards, Chris
Is it possible to do a backtest on those parameters?
Geoff

You would have to split the backtest into separate shorts and longs. You could then backtest with TMT, in one go (for each). Or test the 2 target points separately in FMT. I tend to do a series of backtests in one go, using different parameters. This reduces the effects of different spreads, 'data' issues etc. (eg I backtest using Alpari-UK, which can have holes in data of up to 2 weeks) I have backtest data from Jan, which is now out of date! I'm planning to re-do at end Feb. I see WiseAmbitons posts really useful up to date backtest data.
(I tend to concentrate on longer term backtesting, so its quite time-consuming. Also, I like to run optimisation tests, which are lengthy , which is really the point of backtesting, since the specific optimum target points may change.)

Regards, Chris
 
Hi, this week closes earlier with the No Trade of today.
Here you have my weekly update, I have added a comparison using MM.

Have a nice weekend :cheers:
 

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We were lucky to be kept out of a potential long trade at 06.30 GMT today. Long signals arose at 06.15 and 06.45 and the market did nothing to break out of a tight range until 09.30 news, since which it has gone down like a stone.

==========
Helpful news from Mark Fric yesterday and enclosures talking about testing for settings, optimisation and the pitfalls of curve fitting.

Those who don't know what this is all about could get included for just paying under $100 and signing up properly to the system.
 
Is it possible to use the FMT EA with a spread betting account?
SmartLiveMarkets offers spread betting via MT4.
But is there a difference between how the lot price and spreadbet price is displayed?
 
Is it possible to use the FMT EA with a spread betting account?
SmartLiveMarkets offers spread betting via MT4.
But is there a difference between how the lot price and spreadbet price is displayed?

I can't be sure because I do not use EAs
1 lot with SLM is always 1 Pound per pip, whereas I lot on a normal MT4 account is a variable approx 6 Pounds per pip.
Unless someone with real experience of an EA with SLM posts, then I suggest that you try it out on a demo account until you know the answer. Best to make any mistakes with a demo account before going live :)
 
FMT for me today :

6:00 start, No Trade
6:15 start, No Trade
6:30 start, sell trade, hit TP +30 pips
6:45 start, sell trade, hit TP +30 pips

total today +60 pips ..

total for the week so far +243 pips..

Hi Hammy,

What Timezone are you in.

Greetings
 
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 -55 pips

total today -55 pips .. :p

total for the week +188 pips..:)
 
Is it possible to use the FMT EA with a spread betting account?
SmartLiveMarkets offers spread betting via MT4.
But is there a difference between how the lot price and spreadbet price is displayed?

When using the EA in SmartLive spreadbet account the Lots equal £s i.e. 1 lot = £1 or 0.10 = 10 pence etc. Be careful when opening an account though, make sure you are applying for a spreadbet account and not cfd which they also offer.
 
We were lucky to be kept out of a potential long trade at 06.30 GMT today. Long signals arose at 06.15 and 06.45 and the market did nothing to break out of a tight range until 09.30 news, since which it has gone down like a stone.

==========
Helpful news from Mark Fric yesterday and enclosures talking about testing for settings, optimisation and the pitfalls of curve fitting.

Those who don't know what this is all about could get included for just paying under $100 and signing up properly to the system.

Was an email sent with this info? If so, I did not receive it. I do not see anything post in the members area.

Lady Forex
 
Was an email sent with this info? If so, I did not receive it. I do not see anything post in the members area.

Lady Forex

Received an email from Mark yesterday. I would check your spam folder just in case, if not there, email Mark to re-send it to you.
 
I did check my spam and I will email Mark. I just wanted to make sure that is how it was sent before I bothered him.

Thank you.
 
I did check my spam and I will email Mark. I just wanted to make sure that is how it was sent before I bothered him.

Thank you.

You're welcome. Pity though that sometimes the important stuff doesn't arrive yet the junk keeps on rolling in.
 
Hi Philip

Thank you for this information. It is good to know and does give confidence to trade with 5%. Even if we doubled the consecutive losses to 4 we will make that back and a loss in a month is also not the end of the world. It happens with every method of trading.

The point being that we will be making consistent profits.

I am trying to learn how to backtest the EA. I will let you know if I succeed.:)

Kind regards

Lin


Hi Lin,

From my backtests, (Aug 10 to date) the most consecutive losses for 40/10 has been 2 in a row (4th and 5th January 2011 and 3rd and 5th Aug 2010 - There was a no trade in between these dates).

On the positive side, there have been periods of up to 2 1/2 months of consecutive successful trades (Aug 18 until Nov 1st) which obviously is good for the account balance! The only losing month I found to date is -10 pips in August - which I can live with!

Please note most of this info comes from manual backtest data and includes 2.5 pips spread, however, I cannot rule out that I may have made a mistake somewhere, so please don't consider these figures set in stone!

Because the chance of a losing trade on this strategy is less than standard FMT I use a slightly higher risk of 5%. So far I am satisfied with the results I am getting on my live account.

If anyone on this forum is able to input this strategy into metatrader for backtest PRIOR to Aug 10 I would be very interested to see previous years results. I have to confess I only trade and backtest manually and don't know much about EA's or Metatrader backtests - I should really read Mark's new .pdfs and find out how to do this I suppose! :whistling

Happy trading,

Philip.
 
I have now decided to double up on the best 2 start times instead of the 4 start times. I have figured that 6:00 and 6:45 are not getting me as much as using just 6:15 and 6:30 on both brokers, so doubling up !

Starting Monday: only 6:15 and 6:30 start times, using SL=55, TP=30, BE=15 on both.

cheers !
 
I have been following your multiple trades using a demo account, I can confirm that my results are identical to yours.

I have followed your lead and cut out the 06:00 and 06:45 trades and have introduced a small variation.

WISE has observed that a differential for buy and sell trades could realise more profits. I have demo'd this and he appears to be correct

My grateful acknowledgment to you Wiseambitions.

Starting Monday my demo trades will split each remaining time of 06:15 and 06:30 into two parts, my standard risk for shorts and a reduced risk for longs.

Once proven I intend to go live.

Thanks again for your research.
 
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