swvps.com is the cheapest I have found for $19 a month. I have been contemplating using them but haven't found the need just yet. If you do decide to move forward with this make sure you purchase a Windows VPS package and not Linux. MT4 platform will not work with Linux.
swvps.com is the cheapest I have found for $19 a month. I have been contemplating using them but haven't found the need just yet. If you do decide to move forward with this make sure you purchase a Windows VPS package and not Linux. MT4 platform will not work with Linux.
Thanks will try out later today...
Podberry,
Some very good questions…. Adamus has given some good feedback. Usually we will never know the exact moment the underlying market conditions have changed. It is very similar to be in between a choppy price action for the first time as it is developing. We have the luxury of back testing this method. Try year 2007 and early part of 2008. This method will not work as the market conditions were totally different. Let’s assume that you started in Jan2008 and volatility increased in coming days and your 40 pip SL was taken out easily. There was no way to know or judge when it is happening you need at least some concrete evidence to make some sense.
I agree with what Adamus mentioned. We should know the standard deviation on the either side and that should be our guideline. If lets say 12% drawdown is the max after the deviation then I personally would stop trading for sometime as I know that this is some totally new market scenario with respect to our system from last 2 years. At that point I may contact system creator for his or her inputs.
This issue is just not with this system but all the trading systems. Also the most advanced EA’s fail as the market conditions change. We have to adapt to the new conditions without loosing our shirt and that is by having Good MM and making sure you have some cut off point for max drawdown.
I hope this helps.
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shoot2scoot
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Conversly if you create a 'best fit' trendline joining the lows of 10, 17 and 20 days ago you will see that we have broken down throught it solidly, which gives me hope? (see chart).
Chris
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RedGuerrilla
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Stats for 03-10-2011
Live Accounts:
FMT 4.3, EA standard settings: 40 SL, 20 BE, 35 TP
6:30 UK Time, FXSolutions, Short/Profit, +35.0, Stats since 11-08-2010: Total= -35.0
6:30 UK Time, IBFX......., Short/Profit, +35.6, Stats since 01-04-2011: Total= +144
6:30 UK Time, PFG........, Short/Profit, +35.9, Stats since 03-01-2011: Total= -17.2
Demo Accounts:
FMT 4.3, EA standard settings: 40 SL, 20 BE, 35 TP
6:30 UK Time, PFG Best.., Short/Profit, +35.2, Stats since 02-01-2011: Total= +251.6
6:30 UK Time, FXCM......, Short/Profit, +37.2, Stats since 02-01-2011: Total= +333.2
6:30 UK Time, Alpari(US), Short/Profit, +35.0, Stats since 02-01-2011: Total= +246.9
6:30 UK Time, FXDD......, Short/Profit, +35.0, Stats since 02-01-2011: Total= +180.2
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/Break Even, +5.0, Stats since 01-20-2011: Total= +160.1
Notes:
All pip totals include slippage
FXSolutions is the only dealing desk broker
Live Accounts:
FMT 4.3, EA standard settings: 40 SL, 20 BE, 35 TP
6:30 UK Time, FXSolutions, Short/Profit, +35.0, Stats since 11-08-2010: Total= -35.0
6:30 UK Time, IBFX......., Short/Profit, +35.6, Stats since 01-04-2011: Total= +144
6:30 UK Time, PFG........, Short/Profit, +35.9, Stats since 03-01-2011: Total= -17.2
Demo Accounts:
FMT 4.3, EA standard settings: 40 SL, 20 BE, 35 TP
6:30 UK Time, PFG Best.., Short/Profit, +35.2, Stats since 02-01-2011: Total= +251.6
6:30 UK Time, FXCM......, Short/Profit, +37.2, Stats since 02-01-2011: Total= +333.2
6:30 UK Time, Alpari(US), Short/Profit, +35.0, Stats since 02-01-2011: Total= +246.9
6:30 UK Time, FXDD......, Short/Profit, +35.0, Stats since 02-01-2011: Total= +180.2
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/Break Even, +5.0, Stats since 01-20-2011: Total= +160.1
Notes:
All pip totals include slippage
FXSolutions is the only dealing desk broker
Yeap, finger crossing for the earthquake = /
So, break even point not placed here... hope it will not be a losing trade (on demo account
)
I got this message this morning:
2011.03.11 07:31:09 ForexMorningTrade_EA_4.3 GBPUSD,M15: 2011.03.11 07:31 Error opening order: 128 : trade timeout
edit: 10h45 GMT +1 => break event point, activated +21pips
So, break even point not placed here... hope it will not be a losing trade (on demo account
) I got this message this morning:
2011.03.11 07:31:09 ForexMorningTrade_EA_4.3 GBPUSD,M15: 2011.03.11 07:31 Error opening order: 128 : trade timeout
edit: 10h45 GMT +1 => break event point, activated +21pips
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I was told in my trading apprenticeship to stop trading and re-evaluate your trading plan when you have a 25% drawdown. With the FMT you can get to this number slowly or quickly. Mark recommends for the most part 2% risk per trade. This would mean, if you keep your trade size at a fixed dollar equal to 2% of your original starting balance you would have to re-evaluate after a 12 loss drawdown. People who trade 4% would need to do the same after 6 loss drawdown. I think risking more than 2% per trade is considered agressive and must be done with real risk capital for a system like this. As one person posted on this form this system is a long term period trading system since we only take a limited number of trades per month. Its like a marathon, you have to pace yourself to the end of the race. With the FMT trading system that means trading with a risk % per trade that will allow you to do that. The higher the risk per trade the less of the ability to withstand drawdown. My recommendation is to start with a lower risk per trade 1-2%. Then only increase your risk per trade once you have gains in your account to buffer your original starting capital balance. I use a 8 loss buffer in my trading plan. If you started trading at 1% risk per trade with a 10K account. Once your account balance increased by $1600 dollars only then would I move to 2% risk per trade which would give me a buffer of 8 losing trades. I chose 8 because of a probability table that says a 70% winning system has a 1% chance of 8 losing trades in a row.
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chrisheath
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AT WHAT STAGE WOULD YOU CONSIDER THAT YOUR STRATEGY IS NO LONGER PROFITABLE AND WOULD NEED REVIEWING ?
Lets hope the tsunami isn't too bad.
My thoughts are to try and diversify, using another strategy(ies), so if FMT starts to fail, and least there is another system to fall back on.
On that note, any suggestions? Two factors definitely in FMT's favour are its simplicity, and timing .
Chris
Lets hope the tsunami isn't too bad.
My thoughts are to try and diversify, using another strategy(ies), so if FMT starts to fail, and least there is another system to fall back on.
On that note, any suggestions? Two factors definitely in FMT's favour are its simplicity, and timing .
Chris
catfish911
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Out at +37 today on Sell at 6:15 Alpari UK. I too am disappointed we haven't seen a good winning run of trades (eg 2 or 3 weeks of mostly wins) on FMT so far this year, but actually it was the same in 2009 and 2010. In the past it only got going after April/May time. Trouble is you never know when a winning run is going to start, so you just have to keep trading every day according to the rules. I'm sure everyone has backtested over years and can see if you keep the faith even through the volatile times, FMT does return a profit. Good luck next week, FMT'ers...
