ForexMorningTrade System

[Lady Forex]

Can strategy tester be ran from a live acct or should it be ran from demo?

 

[Lady Forex]

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!

So basically last night was not a mistake. Just something that happens in this market. All indicators were read correctly in other words.

 

[Remraf]

Both my demo accounts gave me a SHORT signal

 

[PipZombie]

Which settings are you using?

I use the recommended settings. I started with 40/40 then 40/35 BE20 when mark suggested it. I have been following the standard settings as they have been published by Mark the creator.

 

[PipZombie]

Which settings are you using?

I am currently using the 40SL 35TP 20 BE settings.

 

[PipZombie]

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

I have four live accounts. I started with a mini account in September 2010 at 2% per trade. I now have that account at 4% per trade and compounding. I have a second standard account that I started at 1/2% per trade because of the size of the account and now am trading it at 1% per trade. I have two other accounts that I trade at 4% per trade. My broker said that if I get up to the 25 lot per trade level that I would have to get their ok to trade at that level, the same if you get to 50 Standard Lots so this is part of the reason that I have multiple accounts to keep the lot size lower. Cumulatively between all my accounts I am trading at 14 standard lots per trade ($140 per pip). I have various reasons for the difference in trade sizes and number of accounts but my main reason is to not have all my money with one broker. My 4% accounts, I will not ever trade more than 4% per trade, i will just use the money management feature to let the trade size grow instead of increasing the lot size. My account that I am trading 1% currently, i have a goal to max it out at 2% per trade. What I am waiting for is my account to compound gains equal to what 8 losing trades would be. I.E. I am using house money,"profits" and when the profits equal what 8 losing 2% trades are then I will move to 2% per trade. This is why I can leave my trades and not worry about them. I have profits as a cushion to my original capital balances.

 

[PipZombie]

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.

Good point and that is also my philosphy.

 

[PipZombie]

-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 ??

I wonder if you are using the Hidden stoploss and Hidden Take profit settings. I set both of my hidden and actual SL TP settings to match. I have found that the hard stop and hard take profit will keep slippage to a minimum. IF you are using the EAs hidden stop by the time the computer can react to price action, also depending on your computer speed, you may get larger amount of slippage than needed.

 

[sunny12]

I have four live accounts. I started with a mini account in September 2010 at 2% per trade. I now have that account at 4% per trade and compounding. I have a second standard account that I started at 1/2% per trade because of the size of the account and now am trading it at 1% per trade. I have two other accounts that I trade at 4% per trade. My broker said that if I get up to the 25 lot per trade level that I would have to get their ok to trade at that level, the same if you get to 50 Standard Lots so this is part of the reason that I have multiple accounts to keep the lot size lower. Cumulatively between all my accounts I am trading at 14 standard lots per trade ($140 per pip). I have various reasons for the difference in trade sizes and number of accounts but my main reason is to not have all my money with one broker. My 4% accounts, I will not ever trade more than 4% per trade, i will just use the money management feature to let the trade size grow instead of increasing the lot size. My account that I am trading 1% currently, i have a goal to max it out at 2% per trade. What I am waiting for is my account to compound gains equal to what 8 losing trades would be. I.E. I am using house money,"profits" and when the profits equal what 8 losing 2% trades are then I will move to 2% per trade. This is why I can leave my trades and not worry about them. I have profits as a cushion to my original capital balances.

Thanks for detailed reply. Interesting points about the "house money" makes sense.

I also agree to diversify your accounts for safety. Are all 4 accounts based on MT4 ?

You are an inspiration.... I hope I can reach levels of trading 14 lots

Cheers...

 

[podberry]

No Trade -Oanda, I'm happy with that as it's been going sideways for hours.........

 

[Remraf]

NO TRADE this morning

 

[sunny12]

No Trade today!!. Closing the shop.....

 

[michaelsa]

GM All,

No Trade here- FXDD EA

Enjoy the day off.

M

 

[JustinSydney]

I have four live accounts. I started with a mini account in September 2010 at 2% per trade. I now have that account at 4% per trade and compounding. I have a second standard account that I started at 1/2% per trade because of the size of the account and now am trading it at 1% per trade. I have two other accounts that I trade at 4% per trade. My broker said that if I get up to the 25 lot per trade level that I would have to get their ok to trade at that level, the same if you get to 50 Standard Lots so this is part of the reason that I have multiple accounts to keep the lot size lower. Cumulatively between all my accounts I am trading at 14 standard lots per trade ($140 per pip). I have various reasons for the difference in trade sizes and number of accounts but my main reason is to not have all my money with one broker. My 4% accounts, I will not ever trade more than 4% per trade, i will just use the money management feature to let the trade size grow instead of increasing the lot size. My account that I am trading 1% currently, i have a goal to max it out at 2% per trade. What I am waiting for is my account to compound gains equal to what 8 losing trades would be. I.E. I am using house money,"profits" and when the profits equal what 8 losing 2% trades are then I will move to 2% per trade. This is why I can leave my trades and not worry about them. I have profits as a cushion to my original capital balances.

One way of getting around the broker max lot size per trade is to open another GU window with everything about the EA set identically including the magic number and share the risk between the two charts. For example if your risking 4% then set each charts risk to 2%. As you keep nudging up to the max trade size you just open more windows. I've had to do that with my broker as they have a maximum trade size of 20 lots and I recently reached that.

 

[RedGuerrilla]

Stats for 03-07-2011



Live Accounts:

FMT 4.3, EA standard settings: 40 SL, 20 BE, 35 TP
6:30 UK Time, FXSolutions, Short/Loss, -40.0, Stats since 11-08-2010: Total= -30.0
6:30 UK Time, IBFX......., Short/Loss, -39.7, Stats since 01-04-2010: Total= +148.9
6:30 UK Time, PFG........, Short/Loss, -39.5, Stats since 03-01-2010: Total= -10.3


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), Short/Loss, -40.0, Stats since 02-01-2011: Total= +252.1
6:30 UK Time, FXDD......, Short/Loss, -40.3, Stats since 02-01-2011: Total= +186.4

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, -41.4, Stats since 01-20-2011: Total= +191.6



Notes:

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

 

[Kylefx]

no trade @ Askobid

 

[PipZombie]

Thanks for detailed reply. Interesting points about the "house money" makes sense.

I also agree to diversify your accounts for safety. Are all 4 accounts based on MT4 ?

You are an inspiration.... I hope I can reach levels of trading 14 lots

Cheers...

Yes, I am trading on mt4 platform on all accounts.

 

[PipZombie]

One way of getting around the broker max lot size per trade is to open another GU window with everything about the EA set identically including the magic number and share the risk between the two charts. For example if your risking 4% then set each charts risk to 2%. As you keep nudging up to the max trade size you just open more windows. I've had to do that with my broker as they have a maximum trade size of 20 lots and I recently reached that.

i will check with the broker on that. I may even demo it to see if that will work.

 

[catfish911]

No trade today Alpari UK, boring but rules is rules...

 

[mcclaine]

Stats for 03-07-2011



Live Accounts:

FMT 4.3, EA standard settings: 40 SL, 20 BE, 35 TP
6:30 UK Time, FXSolutions, Short/Loss, -40.0, Stats since 11-08-2010: Total= -30.0
6:30 UK Time, IBFX......., Short/Loss, -39.7, Stats since 01-04-2010: Total= +148.9
6:30 UK Time, PFG........, Short/Loss, -39.5, Stats since 03-01-2010: Total= -10.3


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), Short/Loss, -40.0, Stats since 02-01-2011: Total= +252.1
6:30 UK Time, FXDD......, Short/Loss, -40.3, Stats since 02-01-2011: Total= +186.4

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, -41.4, Stats since 01-20-2011: Total= +191.6



Notes:

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

Hi RedGuerrilla,

If I understand you correctly, of your 3 live accounts (one of which is running from 3 January 2010), only one has seen positive net pips over this period (+148.9 pips over a 12 month period) after taking all trades recommended by the system at 40 SL, 20 BE, 35 TP? This appears to be quite different from the results posted by wiseambitions a few (tens of!) pages back, or am I missing something obvious here...

All the best.