ForexMorningTrade System

suresh3101 said:
I closed the trade at 1.5471.. because the price was nearing the support1 level 1.5470..
Dont want it to retrace back..
so iam happy with 30 pips profit..
300$ in 1.0 lots.. end of the day for me..
Mark, ur system rocks!!
Click to expand...

good for you. I was nervous and closed it early. yesterday was so good to me....
 
Take profit hit at 1.5360 for +41 pips (y)
Well done Mark! :clap:
The other half is still running but in this very moment it is whipsawing... :|
 
GilR said:
I dont use the EA. I did not take the trade today. I couple of trend indicators I am playing with signalled long.

Will see what happens as I continie to experiment with them
Click to expand...

That happened to me the other day Gil now i just think stick to its rules we win or lose
 
Hi everyone, I have just buy this method after read this forum and there is a 60 days risk-free.
I have backtested with the ea settings in the manual. 2007->2010 : profitable, but prior this not, any clue about this ?
I always do a 10 year backtest when i try a method for see if she's profitable in the long term. The market change, when ? we dont know. Tomorrow ? in 2 year ? But Mark your method is nice at the moment.
 
:cry: Good morning:
EURUSD Long and I was killed 1% risk SL 20pips(n)

but GBPUSD OK and still running short trying to cross below S level 1.5355. I won´t stop it.(y):D
EA perfect today with the nwe ver.

Any way I´m positive 3% risk GBPUSD and EURUSD no way up and down but stoped out.

Good luck to all
The force be with you.

Fabius...good Spanish tío ( me he jodído hoy con el EURUSD pero voy en positivo y muy bien tío, buena suerte y un abrazo)
Ponko
 
It looks very nice,
GBPUSD cossing below support and asking for going down hunting the next level and possibly TP 80pips...Let´s see.
 
Thanx a lot buddy!!
Atlast i've found a system in forex which promises good profits..
Though FMT is not a holygrail, it produces excellent results
compared to many other dumb robots which promise big and
wipe our accounts off..

Moreover i dont think there is a need to ponder over this system much..
Mark has tested it and we should stick to it rather than trying with other timeframes
and currency pairs..
The only thing i alter while the EA takes a trade is the take profit.. i prefer 30pips is more than sufficient for my day..

Happy Trading!!
 
+40pip today. Will probably stick to the original TP40SL40 for this week. Worked pretty well so far.

Didn't use the trailing and BE as I wonder if most of the time it'll end up getting TP of < 40pip, and how often it'll go to TP of 80. If it never hit +80, probably the trade would end up less than 40.

I wonder if I'm right in thinking this way.
 
Mario Loops said:
That happened to me the other day Gil now i just think stick to its rules we win or lose
Click to expand...

Yup, I agree (y).

Closed the second half at +50.

It' s really amazing the way that the trade goes its 35-45 pips on average and then turns back :-0

The ratio 40:40 is working really fine :idea:
 
Nice trade today:

EURUSD 1%risk -20pips
GBPUSD 3%RISK +47pips

Good luck all for tomorrow and good luck if you are still running GBPUSD and pay attention UK news 4:30 EDT... the expectation is to go up if the number is hier than the expected one.
Ponko
 
oxyd said:
Hi everyone, I have just buy this method after read this forum and there is a 60 days risk-free.
I have backtested with the ea settings in the manual. 2007->2010 : profitable, but prior this not, any clue about this ?
I always do a 10 year backtest when i try a method for see if she's profitable in the long term. The market change, when ? we dont know. Tomorrow ? in 2 year ? But Mark your method is nice at the moment.
Click to expand...

I've traded the GBP/USD for nearly 7 years, and yes the GBP did have a slightly different breakout pattern a few years ago. pre-London breakout was usually only 20 pips plus the spread, the second target was 40 pips. My breakout strategy was to check the 2 hr range from 3am to 5am GMT and the first level out of that range was 20p and the second was 40p. The way this system works is that it enters the trade inside this range. Plus there is less hesitation with the GBP/usd, I suspect the burn of 2008 made traders more aware of the volatility that is to be taken advantage of.
 
Mario Loops said:
That happened to me the other day Gil now i just think stick to its rules we win or lose
Click to expand...

I know what you mean :eek:

But on the upside, sofar this month 3x 40.7 and 1@35 without loss. Cant really complain missing this one.

My backtesting sofar for July and August playing around with some trend indicators, being careful with low CCI numbers (adjusting profit target) and keeping an eye on 30 min chart with 45 pip stop is one loss each month.

After today I am going thru it again and then I will write it.
 
PONKO said:
:cry: Good morning:
EURUSD Long and I was killed 1% risk SL 20pips(n)

but GBPUSD OK and still running short trying to cross below S level 1.5355. I won´t stop it.(y):D
EA perfect today with the nwe ver.

Any way I´m positive 3% risk GBPUSD and EURUSD no way up and down but stoped out.

Good luck to all
The force be with you.

Fabius...good Spanish tío ( me he jodído hoy con el EURUSD pero voy en positivo y muy bien tío, buena suerte y un abrazo)
Ponko
Click to expand...

Ponko, lamento mucho lo que te sucedió.
The tip you had yesterday (by GilR I guess) about trading double position of Gbp/Usd instead of taking also Eur/Usd together, seems reasonable since cable is more consistent with its trend. Don't you think so?
Maybe with different and escalating TP's.
Just my two eurocents ;)
 
If I am not wrong, with today we scored 5 wins in a row :cool:

What about trying to score 20 for this month? :cheesy:
 
Fabius said:
Are these the trades you opened with MTF?
Click to expand...

gbp usd I did manually and closed early

eur usd I let EA do it and put the stop at 40p, but is on my demo

gbp/jpy - I entered manually, I used the indicators, but also candle formation and entered after the shoot up and back down to the entry point that the FMT suggested at 5:30gmt. I entered at 6:20gmt.

I don't usually trade the gbp/jpy, but knowing it reacts after the gbp/usd sometimes and the setup was there I took the trade.
 
bluedancer said:
I've traded the GBP/USD for nearly 7 years, and yes the GBP did have a slightly different breakout pattern a few years ago. pre-London breakout was usually only 20 pips plus the spread, the second target was 40 pips. My breakout strategy was to check the 2 hr range from 3am to 5am GMT and the first level out of that range was 20p and the second was 40p. The way this system works is that it enters the trade inside this range. Plus there is less hesitation with the GBP/usd, I suspect the burn of 2008 made traders more aware of the volatility that is to be taken advantage of.
Click to expand...

Great answer Blue so you have been around for a little while in the markets,i could not work out if you were a young kid or mature young lady,great you know your stuff
 
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