ForexMorningTrade System

[wiseambitions]

Well I followed the rules and gave up 40 pips. grrrrrrrrrrrrrrrrr


I think it only ever offered me 2 pips today, it was one of those which defied all the signals completely. Took a long time doing it though!

 

[sunny12]

Well I followed the rules and gave up 40 pips. grrrrrrrrrrrrrrrrr


I think it only ever offered me 2 pips today, it was one of those which defied all the signals completely. Took a long time doing it though!

Yes one of those days!!

- 41 pips here.

 

[Jashfx]

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.

I personally only compound on a weekly basis. So whatever my balance is end Fri/Beg Mon is what i will work out my chosen %risk to be and will trade the same lot size for the week.

 

[podberry]

I agree with sunny12 - If you look at Marks journal he sticks to the rules and comes out trumps accept for the odd month - I personally do not follow the trades - Why ? because my emotions get the better of me and I get worked up if I see going the wrong way or want to cash in when it is close to T/P. I suggest getting a VPS and sitting back and let it do it's job. At the end of the month I know I will be a winner - except December as you could be the best trader in the world and will find December tough.:smart:

 

[Piperman]

Hi Guys,

Thanks for your valuable advise. A -40pips for me today as well but I think it is really one of those days. If the system is really 'Holy Grail', I will be really scare, damn scare.

With no offence to Kylefx (u have been helpful indeed ), I totally agree with Sunny12. Well isn't it because of our trusts in Mark that we gotten our hands on this system in the 1st place? And for that, we should have trust in his settings as well. After all, the inventor of the system knows it best.

I am going to stay with Mark's settings and with you guys' MM strategies. I guess if we stay tight, it will be a profitable mth for everyone.

Cheers

 

[Kylefx]

your're right. We need to follow the rules. But my Experience says "stop the trade, this will be end in a Big Long day".

I have stop the trade beacause the Price breaks a Very Strong Ressistance line (u see it on H4).

I only have saved 10 Pips for me.

 

[catfish911]

Sell trade at 6:15 close for me on Alpari UK, I think I can safely say not one of FMT's finest days, out at -48 rather rapidly... Hey ho, I stuck to the rules and that is what matters, only Monday so I'm sure we'll be back in the black (or should I say green) by the end of the week

 

[sunny12]

Sell trade at 6:15 close for me on Alpari UK, I think I can safely say not one of FMT's finest days, out at -48 rather rapidly... Hey ho, I stuck to the rules and that is what matters, only Monday so I'm sure we'll be back in the black (or should I say green) by the end of the week

-48 pips...that is lot of slippage. Was your SL set or you closed it manually...


I am just wondering if people are able to trade this manually ( I mean without the EA), just looking at the slippage, I think we are better off to use an ECN???

Hell by the end of the month it could easily be 30 to 50 pips in slippage, this can easily cover the commision costs associated with ECN plus some more left.....

What do you guys think ??

 

[JustinSydney]

-48 pips...that is lot of slippage. Was your SL set or you closed it manually...


I am just wondering if people are able to trade this manually ( I mean without the EA), just looking at the slippage, I think we are better off to use an ECN???

Hell by the end of the month it could easily be 30 to 50 pips in slippage, this can easily cover the commision costs associated with ECN plus some more left.....

What do you guys think ??

There is quite a few people on here trading with different SL/TP settings so my guess is that's what it was set to. Someone on here has a SL of 63. I think that would have been hit quite quickly today too.

 

[catfish911]

-48 pips...that is lot of slippage. Was your SL set or you closed it manually...


I am just wondering if people are able to trade this manually ( I mean without the EA), just looking at the slippage, I think we are better off to use an ECN???

Hell by the end of the month it could easily be 30 to 50 pips in slippage, this can easily cover the commision costs associated with ECN plus some more left.....

What do you guys think ??

No slippage at all, I'm running using TP37/SL48 settings which I found to be a decent 'one size fits all' setting to use over 2009/2010 and so far in 2011. Actually I don't think Mark's 40/40 setting would be far different over the long term, but it's all down to the individual to find their own optimum by back and forward testing.

 

[hammy66]

FMT for me today: (55-30-15) on 2 accounts.

6:15 start, No Trade on both brokers.
6:30 start, sell trade, hit SL -55 and -56 pips.

total for today: -111 pips.

 

[joke]

There is quite a few people on here trading with different SL/TP settings so my guess is that's what it was set to. Someone on here has a SL of 63. I think that would have been hit quite quickly today too.

The slippage is an issue...but one has to remember that slippage can also work in our favour...I have a TP of 28...Many times during the month when the trade is going in my favour,, I find that sometimes I end up with an extra 3 or 4 pips,per trade especially when the trade is moving quickly.. so I truly believe that it all balances it out in the long run..I trade with FXDD..live EA..no problems really here with the EA being traded on this broker also -41 on the trade today..an extra pip in slippage.

 

[ochbyn]

Hi Newbie,

Tried setting up EA last night. I'm using Best Direct MT4 (Demo). I have a few questions. When I check (NAV- EA- FMT) The little FMT symbol that looks like a hat is GRAYED out. It is not YELLOW. Is this right ?

One more question, When setting EA inputs, I change Time(Hour & MIN), Lot size, and others. I then click OK. If I check the EA inputs agian, the settings are set to default again not what I changed. After changing to my settings and clicking OK I do get a Smiliey Face upper right corner. Does this mean the EA took my changes? Thanks

 

[Remraf]

Yes one of those days!!

- 41 pips here.

Yep! - didn't think it looked good when I left this morning -40 I've a feeling someone on an earlier post assessed which days are the best and worst days for FMT and I seem to remember that Mondays is not a good day, I have seen this on other trading information, so would be interesting to see if anyone has it for FMT on backtesting data. I might reduce my % size on Mondays if it has a higher liklihood of FMT calling it wrong.

As mentioned previously,It is very clear to see that the 1.6400 level is acting as a very obvious constraint, I think I might look at this level for my medium term trade level :smart:

 

[Lady Forex]

There is quite a few people on here trading with different SL/TP settings so my guess is that's what it was set to. Someone on here has a SL of 63. I think that would have been hit quite quickly today too.

Which broker are you using. I had issues with slipage with Tadawulfx. I am now with an ecn and compared to using Tadawulfx it is worth it.

Ladyforex

 

[Lady Forex]

Hi Newbie,

Tried setting up EA last night. I'm using Best Direct MT4 (Demo). I have a few questions. When I check (NAV- EA- FMT) The little FMT symbol that looks like a hat is GRAYED out. It is not YELLOW. Is this right ?


This is okay. It just means you cannot modify the EA.



One more question, When setting EA inputs, I change Time(Hour & MIN), Lot size, and others. I then click OK. If I check the EA inputs agian, the settings are set to default again not what I changed.



The EA does this (goes back to the default in Nav) If you click f7 while on your chart you will see your changes.

After changing to my settings and clicking OK I do get a Smiliey Face upper right corner. Does this mean the EA took my changes? Thanks

This means your ea is turned on.

Hope this helps.

 

[jabu99]

Hi Newbie,
One more question, When setting EA inputs, I change Time(Hour & MIN), Lot size, and others. I then click OK. If I check the EA inputs agian, the settings are set to default again not what I changed. After changing to my settings and clicking OK I do get a Smiliey Face upper right corner. Does this mean the EA took my changes? Thanks

Click on the smiley face on the right, top and change the settings from there. If you change settings from the Nav window I think it reverts to default.

 

[ochbyn]

Thanks, the F7 key on the chart does show the correct settings. Thanks again:clap:

 

[Cornboy]

My demo account with FXCM had NO trade signal-----the price bars started at 5:15 pm EST Sunday.

My demo account with IBFX had a Sell signal which we all know lost----the price bars started at 6:00 pm EST Sunday which is 45 minutes less price data than FXCM has on Sundays.

IBFX sell trade lost.................and FXCM no trade didn't lose anything.

Both demo accounts (FXCM and IBFXS) price bars close at 4:00 pm EST on Friday.

Marc uses PFG Best Direct which has more price bars than my 2 demo accounts.
PFG price bars close at 5:00 EST Friday and opens at 5:00 EST Sunday.

I thinks its relevant to what broker you're using and how much price data/how much less price data is actually contained for these FMT signals. That's why sometimes we have different results from Marc and from each other using the same system.

 

[wiseambitions]

My demo account with FXCM had NO trade signal-----the price bars started at 5:15 pm EST Sunday.

My demo account with IBFX had a Sell signal which we all know lost----the price bars started at 6:00 pm EST Sunday which is 45 minutes less price data than FXCM has on Sundays.

IBFX sell trade lost.................and FXCM no trade didn't lose anything.

Both demo accounts (FXCM and IBFXS) price bars close at 4:00 pm EST on Friday.

Marc uses PFG Best Direct which has more price bars than my 2 demo accounts.
PFG price bars close at 5:00 EST Friday and opens at 5:00 EST Sunday.

I thinks its relevant to what broker you're using and how much price data/how much less price data is actually contained for these FMT signals. That's why sometimes we have different results from Marc and from each other using the same system.

Yes we have observed this before. There are indeed other sources of information which start to give price data from about 19.00 GMT (UK time) Sunday night, which could be 3 4 or 5 hours earlier than some brokers.

But anyway all of that data still supported a sale which went wrong immediately. We are at risk of trying to get mathematical and technical about what has been called here a camel market. In other words precise calculations don't always give you the advantage!