ForexMorningTrade System

[deserteagle]

Today +22 with Desert Combo. I have got 2.17% with this set this week.
Also it goes 15 winners trades since last loss

 

[GumRai]

looks like need to adjust the target for April from 35 pips to 30 pips. its the 3rd day we reached 30+ then it reversed.

Morning all
New member Q? Is this unique for trade to turn at 30 pips for 3 days in a row. Must we be patient and leave at 35 TP or move to 30TP what will theSL then be

We are or at least have been at one time, our own worst enemy. We have to know to sit on our hands and not tinker with SL and TP once we've decided what suits our trading style. A handful of results mean nothing in the longer term

Can someone help please, I have FMT set up on demo and the EA opened my trade correctly.
On the other PC I have my live account open with the EA running but it did not open the trade so I did it manually.
It got the short signal but a messgae flicked up on screen, I did not get a good chance to read it before it disappeared but caught "order disabled" in there.

I have EA's enalbed in "tools, options, Expert Advisors" 4 boxes ticked.
The smiley face is on.
Expert advisor button has a green dot lit.

I have sufficient funds as I opened the trade manually.

Any suggestions?

You can maybe look on your terminal - journal tab. That may log a failed trade order and so may give you a clue

 

[busfarehome]

Error 133 trade is disabled"

Can someone help please, I have FMT set up on demo and the EA opened my trade correctly.
On the other PC I have my live account open with the EA running but it did not open the trade so I did it manually.
I am setting it every 15 minutes just until I get the EA working, it is giving me a signal, the last one in the top right corner in green says "Signal Long" but in the bottom left corner in white I am getting the message "No trade signal".

I have EA's enalbed in "tools, options, Expert Advisors" 4 boxes ticked.
The smiley face is on.
Expert advisor button has a green dot lit.

I have sufficient funds as I opened the trade manually.

Getting "Error 133 Trade is disabled" message now.

Any suggestions?

 

[davinci79]

SL hit -40 pips. 4th consecutive loss with original settings

 

[StealthTrading]

SL hit -40 pips. 4th consecutive loss with original settings

change your settings or manually close the order.

I set my settings to:
TP at 12 pip
BE at 10
stop at 12
Money management off

I'm going for less pips using higher stakes. I don't see why people let a move go 20+ pips in their favour and then leave it waiting for TP. If it moves 20 pips in your favour set you stop to BE or take the off 10 pips profit rather than -40.

That move went 33 pips today, at £5 a pip that's a nice earner even for 10 or 20 pips.

Just my thoughts.

 

[Cobber]

You are not trading FMT.

Your settings are far too tight and you are trading noise. Good luck.

I think it's been proven here that not setting to BE is more profitable than doing so.

You will go through drawdown just keep persisting don't change your settings much and be patient and look longer term.

 

[deserteagle]

change your settings or manually close the order.

I set my settings to:
TP at 12 pip
BE at 10
stop at 12
Money management off

I'm going for less pips using higher stakes. I don't see why people let a move go 20+ pips in their favour and then leave it waiting for TP. If it moves 20 pips in your favour set you stop to BE or take the off 10 pips profit rather than -40.

That move went 33 pips today, at £5 a pip that's a nice earner even for 10 or 20 pips.

Just my thoughts.

Hi, have you backtested your settings 12SL 12TP 10BE for 2010/2011? If so, I would be interested to know the results.

Regards

 

[StealthTrading]

Hi, have you backtested your settings 12SL 12TP 10BE for 2010/2011? If so, I would be interested to know the results.

Regards

No I've not back tested. cobber is right be patient with FMT

But also I'm happy with a small profit using higher stakes and smaller stops, noise or no noise I'm happy with my trading style, it's fit's in with my other systems and I'm making money.

 

[wiseambitions]

change your settings or manually close the order.

I set my settings to:
TP at 12 pip
BE at 10
stop at 12
Money management off

I'm going for less pips using higher stakes. I don't see why people let a move go 20+ pips in their favour and then leave it waiting for TP. If it moves 20 pips in your favour set you stop to BE or take the off 10 pips profit rather than -40.

That move went 33 pips today, at £5 a pip that's a nice earner even for 10 or 20 pips.

Just my thoughts.

I think your SL is way too tight to let the market breathe, although the RRR is fairly symmetrical. I would at least double that SL. Need more backtests to convince me. For example I heard someone say on here that 7tp and 21 SL was pretty hopeless.

 

[StealthTrading]

I think your SL is way too tight to let the market breathe, although the RRR is fairly symmetrical. I would at least double that SL. Need more backtests to convince me. For example I heard someone say on here that 7tp and 21 SL was pretty hopeless.

Fair enough is it tight, I will play around and test it, but again I'm happy with a small daily return rather than taking -40 because I was waiting for TP.

Also remember 7 pips at £10 a pips is not bad for a mornings work (crazy to have 21 SL with that) but that person might be trading higher stakes. I would be happy with 7 pips at £10 everyday, would you not? That's a salary!

 

[ffchaci]

(40/10) +10
(40/35/20 +5) +5
took 50% of the table at +30pips and then 50% off that again at +15 so I'm happy with that for today.

 

[Piperman]

SL hit -40 pips. 4th consecutive loss with original settings

Davinci, why don't you just follow the default setting? I mean don't mind me saying this, patience is the name of this game but then again to each his own.

 

[deserteagle]

No I've not back tested. cobber is right be patient with FMT

But also I'm happy with a small profit using higher stakes and smaller stops, noise or no noise I'm happy with my trading style, it's fit's in with my other systems and I'm making money.

Good for you! Anyway I suggest you to test the settings, so you could have an idea about the setting behaviour in the middle-long term. Good luck.

 

[davinci79]

Davinci, why don't you just follow the default setting? I mean don't mind me saying this, patience is the name of this game but then again to each his own.

I like to have SL=TP but it is working too bad for last 4 trades. I will think about use TP35.
Once my trades are closed the price seem to go south again

 

[jabu99]

Fair enough is it tight, I will play around and test it, but again I'm happy with a small daily return rather than taking -40 because I was waiting for TP.

Also remember 7 pips at £10 a pips is not bad for a mornings work (crazy to have 21 SL with that) but that person might be trading higher stakes. I would be happy with 7 pips at £10 everyday, would you not? That's a salary!

Er! No StealthTrading that's minimum wage
Only okay if it's part time.

 

[busfarehome]

I could live happily on £350 a week but no mortgage and no kids helps.

Back on topic what is an "error 133 trade is disabled" on FMT?

 

[deserteagle]

I like to have SL=TP but it is working too bad for last 4 trades. I will think about use TP35.
Once my trades are closed the price seem to go south again

Maybe you could test SL40 TP40 BE20.

 

[wiseambitions]

I could live happily on £350 a week but no mortgage and no kids helps.

If FMT generated 1600 pips in a year, then 2 lots ($20/pip) would create an income of $32000 which is £20000 which is just a bit over the necessary £350/week.

The theory always looks promising, but nearly everybody I speak to (not just on here) says that with the best will in the world they aren't achieving the capability of their system. Loads of reasons, not just emotions, but the example of EAs not carrying out a trade for whatever reasons, IT breakdowns, broadband problems, broker problems etc. It is a tough game, the profits just don't seem to happen by accident whereas things that go wrong usually do!

 

[mgarry]

Hi - I've just bought the FMT manual, and would like to manually trade it using IG index charts - if anyone else is doing this I'd appreciate a PM to make sure I have set up the charts the right way -

Thanks

Hi, I trade with IG Index but take my signals from alpari UK. After opening my trade I add the trailing stop with settings, distance = 20 and Step= 40. This will move my stop loss to B/E after the trade advances 20 pips. It works well so no complains!

 

[busfarehome]

If FMT generated 1600 pips in a year, then 2 lots ($20/pip) would create an income of $32000 which is £20000 which is just a bit over the necessary £350/week.

The theory always looks promising, but nearly everybody I speak to (not just on here) says that with the best will in the world they aren't achieving the capability of their system. Loads of reasons, not just emotions, but the example of EAs not carrying out a trade for whatever reasons, IT breakdowns, broadband problems, broker problems etc. It is a tough game, the profits just don't seem to happen by accident whereas things that go wrong usually do!

I was just saying that I could live happily on £350 a week not that I thought FMT would do that for me.

In fact talking of EA's not carrying out a trade for whatever reason is my problem right now after a problem free 3 months on demo.