ForexMorningTrade System

RedGuerrilla said:
Stats for 03-14-2011



Live Accounts:

FMT 4.3, EA standard settings: 40 SL, 20 BE, 35 TP
6:30 UK Time, FXSolutions, Long/Loss, -40.0, Stats since 11-08-2010: Total= -75.0
6:30 UK Time, IBFX......., Long/Loss, -40.4, Stats since 01-04-2011: Total= +103.6
6:30 UK Time, PFG........, Long/Loss, -40.3, Stats since 03-01-2011: Total= -57.6



Demo Accounts:

FMT 4.3, EA standard settings: 40 SL, 20 BE, 35 TP
6:30 UK Time, PFG Best.., Long/Loss, -40.9, Stats since 02-01-2011: Total= +246.3
6:30 UK Time, FXCM......, Long/Loss, -43.5, Stats since 02-01-2011: Total= +289.7
6:30 UK Time, Alpari(US), Long/Loss, -40.0, Stats since 02-01-2011: Total= +206.9
6:30 UK Time, FXDD......, Long/Loss, -40.0, Stats since 02-01-2011: Total= +140.2

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.., Long/Loss, -40.1, Stats since 01-20-2011: Total= +120



Notes:

All pip totals include slippage
FXSolutions is the only dealing desk broker
Click to expand...

Hi Red,

First i would like to thank you for your great work and i would ask you to not stop sharing this valuable information with us.
But since i am using FXDD i know that they are a dealing desk ..... and what you mentioned here is only FXsolutions is the dealing desk broker.
One more thing from your analysis i can see that you are running four demo accounts with the same start date ..... FXDD is one of them but its very far from their perfomance in terms of pips! Is it because executions? or the data?

Thank you again.
 
hammy66 said:
I'm not saying that SL=55 is better than 65, it's what I use and it works for me.

Not sure what you are asking about BE=25 and BE+ =5 ?
In the settings you set BE=25 and the next setting BE+pips, set =5 pips.
When you get 25 pips in profit this will move SL to +5 pips profit.
There is NO trailing stop, TS=0.

cheers !
Click to expand...

Thanks for your reply, I just hadn't used the +5 element, I 've just used the std 20 BE. Best regards, (y)
 
fxsurfr said:
Scared to go short today as it is rising from the last candle :(
Click to expand...

Stop thining. Follow the system. That is why it works more often than not!
It might be against resistance, but more often than not I find I would have missed a profitable trade by being scared. Good luck, we get it sometimes!
 
fxsurfr said:
Scared to go short today as it is rising from the last candle :(
Click to expand...

There is should be no fear in trading. Just follow the rules. ....

As mentioned here doing the backtest it was confirmed that you can get 3 consecutive losers in a row. So risk % properly otherwise DD can be to much to digest....

One a side note:

I have seen that big boys do stop hunting around big round numbers. Many times you will have an established trend and all the indicators are signalling properly but you will see a spike in a opposite direction during Frankfut or London open.

Big boys know where most of the retailers have their stops.....they can easily bring the price if it is not that far away...... take all the stops out and then price resumes towards the major trend.....

Does this happen all the time...no.....but I have seen enough times to believe that this game is played by the the big boys.... and yes this has nothing to do with this system.....
 
Last edited:
Text book retracement with a fib extension hit within a major trend. This trade could very well hit our target and still looks pretty bearish to me for the short term. Good luck everyone.

Stick to rules and dont get cold feet!!!
 
You are right. I do think the indicator combination with the system is great and that's why I subscribed to it. However, like everyone else I am looking at ways that can get me better ways to trade this.I personally look for better entries so that my SL can't be hunted so easily. Today was one such day. Price had touched 1.6100 and bouncing up and that's why I was uncomfortable to enter. I waited and entered at 15 pips above the signal.
Peace and may the pips be with us all!
 
fxsurfr said:
You are right. I do think the indicator combination with the system is great and that's why I subscribed to it. However, like everyone else I am looking at ways that can get me better ways to trade this.I personally look for better entries so that my SL can't be hunted so easily. Today was one such day. Price had touched 1.6100 and bouncing up and that's why I was uncomfortable to enter. I waited and entered at 15 pips above the signal.
Peace and may the pips be with us all!
Click to expand...

Thats a good entry but I would be careful now not to set your stop to B/E after 20/25 pips from your entry as you could get stopped out prematurely. If you are resetting to BE then you should probably only do so 15-20 pips after price has moved past original entry (which will almost be at your TP if you going for 35 pips.
 
Good Point. I still keep the standard settings of 35-20-40. Good day today. More pips to all!

Jashfx said:
Thats a good entry but I would be careful now not to set your stop to B/E after 20/25 pips from your entry as you could get stopped out prematurely. If you are resetting to BE then you should probably only do so 15-20 pips after price has moved past original entry (which will almost be at your TP if you going for 35 pips.
Click to expand...
 
A good example in todays trade of how pivot points also play a big part in our trade. Would be good if we could get an EA that would factor Pivot Points into the decisions process as well. Today the first support line was below our TP which was good news for us. Also the pivot point was between our entry and below our SL which was also good for us. The PA hit the pivot point and bounced straight off into our profit target point.

I've attached a print screen of the trade.
 
Last edited:
Justin, please delete your screenshot, you are exposing the indicators on a public forum
 
JustinSydney said:
A good example in todays trade of how pivot points also play a big part in our trade. Would be good if we could get an EA that would factor Pivot Points into the decisions process as well. Today the first support line was below our TP which was good news for us. Also the pivot point was between our entry and below our SL which was also good for us. The PA hit the pivot point and bounced straight off into our profit target point.

I've attached a print screen of the trade.
Click to expand...

I would suggest you remove the thumbnail, not everyone here has paid for the FMT. Fair then to Marc and those that have.

Kind Regards.
 
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