ForexMorningTrade System

[GumRai]

I had not thought about that, and also can't find the option to amend that....

also I run a parallel chart in Net Dania which is a useful site NOT Metatrader, http://www.netdania.com/Products/li.../real-time-forex-charts/FinanceChart.aspx?m=c
and that also gave me a similar reading

Obviously you live to trade another day, and also live in the hope that these borderline cases cancel each other out over a long period of time.

Today's pattern was definitely sideways for 2 hours 55 minutes, then :arrowd::arrowd::arrowd:

To amend it..

Double click on the indicator and the pop up window will open
click on parameters tab, you must have opened this to amend the period
Click on the arrow to open the drop down list next to "Apply to:"
Select the correct option and click on OK

 

[Remraf]

Both my indicators are set exactly as shown in FMT manual, as GumRai shows above and both readings in the graphed window and the Data Window change pretty much in unison. I got SHORT signal this morning on both my demo MT4 accounts with FMT standard settings on both. Didn't look promising this morning when I went out - 35 TP when I got home tonight! - I guess it just didn't like that 1.6350 resistence level! :whistling

 

[Remraf]

Just lucked out with bad PMI news. Could have easily been a loss.

I can't work this system out. One of these days it will stop working because it is really a bet at the start of a session based on flimsy loose rules.

Hey Cobber, if you think it only works on flimsy rules and results are just fluky, why not try the flip a coin to BUY or SELL and let us know your results - getting in is the easy bit, it's knowing where your stop and limits go and getting out at the right time is the trick that FMT has been able to pull off with remarkable success - but I stand to be corrected if you have a better set of results or approach. Cheers! Pom

 

[chrisheath]

Hey Cobber, if you think it only works on flimsy rules and results are just fluky, why not try the flip a coin to BUY or SELL and let us know your results - getting in is the easy bit, it's knowing where your stop and limits go and getting out at the right time is the trick that FMT has been able to pull off with remarkable success - but I stand to be corrected if you have a better set of results or approach. Cheers! Pom

Whatever you think Cobber, you're right. Like any forex strategy, you have to KNOW, that your (imperfect) backtest will 1. Over time be positive 2. Show that there are times you WILL lose. 3. Show enough positive results that will put you ahead after a period of time.

Mostly, this forex game is NOT a quick fix, earn thousands every day, its a serious business, given time and application, YOU can make it, but you do have to work at it , and get comfortable in LOSING - its going to happen.
Those mistakes you ( and ha-ha I ,make ) are part of the business!
FMT - and I've seen a lot of pretenders - will get you in on the right side (mostly)- then its up to you to maximise (or is it maximize)......

Warm Regards ...... Chris

 

[RedGuerrilla]

Stats for 03-03-2011



Live Accounts:

FMT 4.3, EA standard settings: 40 SL, 20 BE, 35 TP
6:30 UK Time, FXSolutions, Short/Profit, +36.0, Stats since 11-08-2010: Total= + 10.0
6:30 UK Time, IBFX........, Short/Profit, +36.0, Stats since 01-04-2010: Total= +188.6
6:30 UK Time, PFG........, Short/Profit, +36.8, Stats since 03-01-2010: Total= + 29.3



Demo Accounts:

FMT 4.3, EA standard settings: 40 SL, 20 BE, 35 TP
6:30 UK Time, PFG Best.., Short/Profit, +36.8, Stats since 02-01-2011: Total= +256.1
6:30 UK Time, FXCM......, Short/Profit, +36.6, Stats since 02-01-2011: Total= +337.9
6:30 UK Time, Alpari(US), Short/Profit., +35.2, Stats since 02-01-2011: Total= +292.1
6:30 UK Time, FXDD......, No Ttrade..., 0.0, Stats since 02-01-2011: Total= +226.7

FMT 4.3, EA tweaked settings: SL=40, TP=30, BE=20, BE+5 pips, based on back testing, Post #5659, page 708
6:15 UK Time, PFG Best.., Short/Profit, +29.9, Stats since 01-20-2011: Total= +273.0



Notes:

All pip totals include slippage
FXSolutions is the only dealing desk broker

 

[podberry]

no trade on my side - should go north though

 

[Remraf]

anyone let the EA trade tomorrow on NFP ?

Not a concern this morning - NO TRADE signal - back to bed!

 

[Kylefx]

No trade on Askobid Live account

 

[kgk]

no trade - ibfx

 

[wiseambitions]

no signal alpari uk
non farm day, so perhaps it's meant to be our holiday

 

[Lady Forex]

No Trade - ATC Brokers

 

[wiseambitions]

the man I call Mr 10 to 7 which is a big trader who seems to push the market about now seems to be forcing it upwards!

 

[Jashfx]

Interesting to note that its 3 Fridays in a row there has been a NO TRADE.

 

[Tenapenny]

the man I call Mr 10 to 7 which is a big trader who seems to push the market about now seems to be forcing it upwards!

Looking at 1m chart I don't see much evidence of that but wouldn't be surprised if someone in Frankfurt is in big time at that point.

 

[Jashfx]

Non Farm Payroll & FMT

Since purchasing the system these are results of trading Non Farm Payroll Days: (Alpari UK)

2 Sept --- winner
7 Oct --- BE
4 Nov -- Winner

2 Dec-- winner
9Dec --Loser (its usually first Friday of month but for some reason something tells me it was the 2nd Friday in December but I stand to be corrected) Anyway first friday was a winner and 2nd was a loser (Who wants to trade December anyway after what we saw this past December).

7 Jan -- B/E
4 Feb -- Winner
4 March -- N/T

So it seems there should be no reason to NOT TRADE on FMT on NON -FARM PAYROLL DAY

PS-- I have not backtested. These are forward tests since purchase.

 

[Jashfx]

Non Farm Payroll & FMT

7 Oct -- was an agonsising close to TP trade at the old 40 pips Target. It would of been a winner trading under revised tp=35 pips

 

[sunny12]

Non Farm Payroll & FMT

Since purchasing the system these are results of trading Non Farm Payroll Days: (Alpari UK)

2 Sept --- winner
7 Oct --- BE
4 Nov -- Winner

2 Dec-- winner
9Dec --Loser (its usually first Friday of month but for some reason something tells me it was the 2nd Friday in December but I stand to be corrected) Anyway first friday was a winner and 2nd was a loser (Who wants to trade December anyway after what we saw this past December).

7 Jan -- B/E
4 Feb -- Winner
4 March -- N/T

So it seems there should be no reason to NOT TRADE on FMT on NON -FARM PAYROLL DAY

PS-- I have not backtested. These are forward tests since purchase.

Thanks the update. Yup it looks like we should be trading it even on NFP days....
The only concern is the spread of 15 to 30 pips during NFP release time. That can reach your SL really fast....

 

[Remraf]

the man I call Mr 10 to 7 which is a big trader who seems to push the market about now seems to be forcing it upwards!

Clearly not big enough this morning! - if he's LONG he's taking a pasting looking at the 8.15 candle. Chris:whistling

 

[sunny12]

Stats for 03-03-2011



Live Accounts:

FMT 4.3, EA standard settings: 40 SL, 20 BE, 35 TP
6:30 UK Time, FXSolutions, Short/Profit, +36.0, Stats since 11-08-2010: Total= + 10.0
6:30 UK Time, IBFX........, Short/Profit, +36.0, Stats since 01-04-2010: Total= +188.6
6:30 UK Time, PFG........, Short/Profit, +36.8, Stats since 03-01-2010: Total= + 29.3



Demo Accounts:

FMT 4.3, EA standard settings: 40 SL, 20 BE, 35 TP
6:30 UK Time, PFG Best.., Short/Profit, +36.8, Stats since 02-01-2011: Total= +256.1
6:30 UK Time, FXCM......, Short/Profit, +36.6, Stats since 02-01-2011: Total= +337.9
6:30 UK Time, Alpari(US), Short/Profit., +35.2, Stats since 02-01-2011: Total= +292.1
6:30 UK Time, FXDD......, No Ttrade..., 0.0, Stats since 02-01-2011: Total= +226.7

FMT 4.3, EA tweaked settings: SL=40, TP=30, BE=20, BE+5 pips, based on back testing, Post #5659, page 708
6:15 UK Time, PFG Best.., Short/Profit, +29.9, Stats since 01-20-2011: Total= +273.0



Notes:

All pip totals include slippage
FXSolutions is the only dealing desk broker

Wow there is huge diff of 100 pips in between your demo accounts. It seems fxdd is the worst and Fxcm is the best. Why is there such a huge diff.

Also which live broker will u suggest that can handle semi decent size account in terms of safety , ease of withdrawl.....

Thanks

 

[Remraf]

no trade on my side - should go north though

Bet you're glad you didn't go long! :smart: