ForexMorningTrade System

[Lady Forex]

Pod, I have been compounding my large accounts since December 5th. I quit trading 12/14 amd resumed 1/17. FMT has grown my large live accounts 36% through friday 3/4. I have a small mini account I started trading 9/14 to test the EA and like the account above stopped trading 12/14 and resumed 1/17/11 and the account is up 77.8%. I have made over 5 figures with this system since 9/14 with all four of my accounts. This is a good system. Like all systems you need to evaluate their performance over a period of time. I hate saying this but "don't trade any money you can't aford to lose". Also trade trade sizes you can go to sleep and not wory about. I use the standard recommended settings that Mark provides and set it and forget it. Once you have "house money" i.e. money you have made from the system it is easy to let the system run without intervention.

Thank you for this information.

 

[brettus]

Pod, I have been compounding my large accounts since December 5th. I quit trading 12/14 amd resumed 1/17. FMT has grown my large live accounts 36% through friday 3/4. I have a small mini account I started trading 9/14 to test the EA and like the account above stopped trading 12/14 and resumed 1/17/11 and the account is up 77.8%. I have made over 5 figures with this system since 9/14 with all four of my accounts. This is a good system. Like all systems you need to evaluate their performance over a period of time. I hate saying this but "don't trade any money you can't aford to lose". Also trade trade sizes you can go to sleep and not wory about. I use the standard recommended settings that Mark provides and set it and forget it. Once you have "house money" i.e. money you have made from the system it is easy to let the system run without intervention.

Which settings are you using?

 

[podberry]

Thanks PipZombie, that is very encouraging - is your standard settings 35/40 or 40/40 as I see Mark changed TP to 35 a few months back. I had a look at the EA test of FMT at Forexpeacearmy where they ran the test over December - The results were not good and I feel that was not a true reflection of the system, pity. I guess December and January are a no-no not just for FMT but also any system due to the lack of liquidity. If the big boys are on holiday - stay away....

 

[GumRai]

Pod, I have been compounding my large accounts since December 5th. I quit trading 12/14 amd resumed 1/17. FMT has grown my large live accounts 36% through friday 3/4. I have a small mini account I started trading 9/14 to test the EA and like the account above stopped trading 12/14 and resumed 1/17/11 and the account is up 77.8%. I have made over 5 figures with this system since 9/14 with all four of my accounts. This is a good system. Like all systems you need to evaluate their performance over a period of time. I hate saying this but "don't trade any money you can't aford to lose". Also trade trade sizes you can go to sleep and not wory about. I use the standard recommended settings that Mark provides and set it and forget it. Once you have "house money" i.e. money you have made from the system it is easy to let the system run without intervention.

Which settings are you using?

 

[RedGuerrilla]

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

Slippage does add up. Also the indicators get affect by variables like system updates, crashes, and different data feed start times before and after a weekend.

These are demo accounts you're looking at, but live accounts could be different because demo and live accounts are on different servers. A demo server might crash, but the live server will be okay.

It's best to use a non-dealing desk broker. FXSolutions is a dealing desk broker, and it's profit was lower than the others.

I would recommend PFG Best, FXCM, and IBFX as my top three preferred USA Forex brokers. FXCM has free MT4 Hosting (VPS) for accounts >$5k, best fills, and best web site. PFG Best has the good fills and Mark Fric uses this broker. With IBFX, it's very easy to open an account and start trading with $100.

I only track USA Forex brokers. The safest Forex brokers are those that are popular and are registered with the NFA futures. The National Futures Association's (NFA) actvities are supervise by the commodity Futures Trading Commission (CFTC), the authority responsible for regulating the USA Futures industry.

All the brokers I'm tracking are NFA approved. Check for yourself: http://www.nfa.futures.org/basicnet/

 

[podberry]

Short - Oanda MT4

 

[RedGuerrilla]

Stats for 03-04-2011



Live Accounts:

FMT 4.3, EA standard settings: 40 SL, 20 BE, 35 TP
6:30 UK Time, FXSolutions, No Trade, 0.0, Stats since 11-08-2010: Total= + 10.0
6:30 UK Time, IBFX......., No Trade, 0.0, Stats since 01-04-2010: Total= +188.6
6:30 UK Time, PFG........, No Trade, 0.0, 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.., No Trade, 0.0, Stats since 02-01-2011: Total= +256.1
6:30 UK Time, FXCM......, No Trade, 0.0, Stats since 02-01-2011: Total= +337.9
6:30 UK Time, Alpari(US), No Trade, 0.0, Stats since 02-01-2011: Total= +292.1
6:30 UK Time, FXDD......, No Trade, 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.., Long/Loss, -40.0, Stats since 01-20-2011: Total= +233.0



Notes:

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

 

[sunny12]

Slippage does add up. Also the indicators get affect by variables like system updates, crashes, and different data feed start times before and after a weekend.

These are demo accounts you're looking at, but live accounts could be different because demo and live accounts are on different servers. A demo server might crash, but the live server will be okay.

It's best to use a non-dealing desk broker. FXSolutions is a dealing desk broker, and it's profit was lower than the others.

I would recommend PFG Best, FXCM, and IBFX as my top three preferred USA Forex brokers. FXCM has free MT4 Hosting (VPS) for accounts >$5k, best fills, and best web site. PFG Best has the good fills and Mark Fric uses this broker. With IBFX, it's very easy to open an account and start trading with $100.

I only track USA Forex brokers. The safest Forex brokers are those that are popular and are registered with the NFA futures. The National Futures Association's (NFA) actvities are supervise by the commodity Futures Trading Commission (CFTC), the authority responsible for regulating the USA Futures industry.

All the brokers I'm tracking are NFA approved. Check for yourself: http://www.nfa.futures.org/basicnet/

Thanks for the update

 

[sunny12]

Short triggered fxdd , alpari UK.

 

[ffchaci]

SHort triggered on Alpari US.
This is my first use of FMT and am excited to see if it shows as much promise as the thread and back testing suggests.
I am currently manuel trading with IG Index but am in the process of setting up a SLM account.
Happy Trading peeps

 

[sunny12]

Pod, I have been compounding my large accounts since December 5th. I quit trading 12/14 amd resumed 1/17. FMT has grown my large live accounts 36% through friday 3/4. I have a small mini account I started trading 9/14 to test the EA and like the account above stopped trading 12/14 and resumed 1/17/11 and the account is up 77.8%. I have made over 5 figures with this system since 9/14 with all four of my accounts. This is a good system. Like all systems you need to evaluate their performance over a period of time. I hate saying this but "don't trade any money you can't aford to lose". Also trade trade sizes you can go to sleep and not wory about. I use the standard recommended settings that Mark provides and set it and forget it. Once you have "house money" i.e. money you have made from the system it is easy to let the system run without intervention.

Thanks for the update. It is motivating to see your account size compounding and growing.

When you say standard settings are you referring to 40/40 old setting. Also does this setting mean that you are using 2% risk per trade as suggested by Mark. Also are you using fixed lots or you are increasing as your account grows.

Also would you recommend trading at 3% for medium size account until you reach a large figure compounding and once you reach that cut back to 2%?

Are there any risks you foresee (I know drawdown will be more.....), your input is appreciated.

Thanks

 

[Kylefx]

short @ Askobid - 1.62536

 

[PIETRHOF]

sell @FXpro- 1.62504

 

[Piperman]

Hi Everyone,

I m new to this system and on ibfx (Aus). I have been doing demo on the past 1 week using Mark's recommended settings.

I hope to start live real soon. I m keen to find out from you guys what compounding strategies do you guys implement?

Pardon for a noob in this system and forex trading. Thanks.

 

[Kylefx]

hey piperman,
take a look on Page 833 on Post #6657 u can download some set's and results for FMT.

I think that will help u to find your best way to using it =)

 

[Remraf]

Hi Everyone,

I m new to this system and on ibfx (Aus). I have been doing demo on the past 1 week using Mark's recommended settings.

I hope to start live real soon. I m keen to find out from you guys what compounding strategies do you guys implement?

Pardon for a noob in this system and forex trading. Thanks.

If you are using the EA, the standard Money Management settings in FMT will automatically sort the compounding for you, check you have it set to 2% and it will risk that % on each trade, rising and falling accordingly depending on the size of your capital, although I think it needs futher adjustment on lot sizes it will trade if the trade size gets too large - nothing I need to worry about at the moment!

 

[Remraf]

In SHORT today, but looking at the candles, it could be a long day! - although it currently does not look very prominsing

 

[wiseambitions]

We were acting on a strong signal, and there were other indicators which at our starting time were clearly pointing the same way. Just have to leave it to run.......

 

[Kylefx]

cloesd trade @ -30 Price action says it is a Long day

 

[sunny12]

cloesd trade @ -30 Price action says it is a Long day

Kylefx,

It is always better to follow systems rules once finalized to the T. This is one of the golden rules in trading. Do not change the rules on the fly. Yes price action looks like it is going to take SL out but we cannot be sure. There have been cases in the past where it almost reached SL and then moves back in the green.

Please do not take any offense. Sticking to rules and trading plan works in the longer run. Most of us have learned in a hard way. Yes I am not talking about blindly following the system but the rules of this system have been tested from last 2 years. If the market profile changes then yes we need to change the rules but I think that is a diff issue.