JustinSydney
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For what it's worth, I have April 2010 as a losing month (won 6 lost 7), on my manual checks. May 2010 was 5 wins and 1 loss. All at 6:30 UK time.
wiseambitions
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The system was not for sale last May, but yes it was a month without many FMT type signals.
However the month was extremely volatile, and I remember price movements of 200 to 500 pips some days. A lot of this was due to the UK election, where we had a period of suspense and perhaps a week or two of political wrangling before a coalition government was formed, the the Opening of Parliament with Queen's Speech etc. As well as all that we had the Iceland volcano problem, the BP Mexican Gulf oil spill, and perhaps one or two more unusual events.
In my analysis there might have been 8 FMT trades in the whole month, but it would have been profitable
Thanks so much !
andybissell
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Agree, I would never say that we use the boiler bands and the Alligator indicators. That would just give too much away.
FMT for me this morning (55-35-25-5)
6:15 start, signal sell trade, hit TP +35 pips.
6:30 start, signal sell trade, hit BE +5 pips.
6:45 start, signal sell trade, hit TP +35 pips.
total today +75 pips..
weekly total +110 pips..
a good example today of the merit of 3 start times..
6:15 start, signal sell trade, hit TP +35 pips.
6:30 start, signal sell trade, hit BE +5 pips.
6:45 start, signal sell trade, hit TP +35 pips.
total today +75 pips..
weekly total +110 pips..
a good example today of the merit of 3 start times..
deserteagle
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Hi Hammy, could you show us some statistics of the overall performance of the 3 start times strategy?
Thanks in advance.
Care to share your pilot?
I say! :cheesy:
JustinSydney
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Actualy Go Markets got to exatly 34.4pips. 0.6 of a pip of taking profit. Last week on one of the BE days it got to 34.5 pips. Incredible.
Since a short winner would have to close on the ask price, and I don't really know what the spread was at that point, with my entry fill the max I would have got from it was about 32.
But yes we've been close several times. I'm trying to find a way to get some pips from those BE moves without increasing the stop, but it's tough to find something consistent.
sandbird,
actually, I only went back to the 3 start times March 14, with these settings. Before that I only used 6:30 and 6:15 for awhile. All my results are posted here every day, however I can tell you that in last 4 weeks, since March 14 my results are:
6:15 start, 272 pips
6:30 start, 370 pips
6:45 start, 240 pips
Total +882 pips in last 4 weeks, and already +110 pips this week.
cheers !..:cheesy:
Kinger
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Hi all, I haven’t looked at this thread much for the past 6 months. But I’ve been trading this system with the original rules (as they work) for 4 months after forward testing for 6 months. I like this system as it’s very similar to another method I use which has been running for over 4 years and very profitable.
What advice I can give to you guys is this:
I don’t like using the ea to back test as this will not give true results, you need to know a little about mt4 as to why.
I am however forward testing the theory behind the 20 pip break even rule, but will run the test along side the original rules for at least 6mths.
If you look at 2010, 2009, 2008 all the way back to 2004, you will see most drawdown using the original rules is plugged using the above ‘never trade’ rules.
And these rules aren’t something I’ve made up, a lot of other traders use them as well on other systems. Funny eh ?
My tp and sl are both 43, easy to understand and I do it without fail everyday.
Trading is all about following the rules, perfect executing the trades each day and only look at the monthly outcome (not daily).
I see the breakeven rule has brought a string of break evens the passed few days, but who cares, wait and see the result at the end of April (if your going to trade April that is) April isnt a bad month, just a bit hit and miss, unlike the June and July !!!! :whistling
What advice I can give to you guys is this:
- Never trade April and August (traders on holidays, mostly for low volumes)
- Never trade bank holiday days in the UK or US.
- Never trade the week leading up to Christmas or the week between Christmas and New Year.
- Never trade the first week in January.
I don’t like using the ea to back test as this will not give true results, you need to know a little about mt4 as to why.
I am however forward testing the theory behind the 20 pip break even rule, but will run the test along side the original rules for at least 6mths.
If you look at 2010, 2009, 2008 all the way back to 2004, you will see most drawdown using the original rules is plugged using the above ‘never trade’ rules.
And these rules aren’t something I’ve made up, a lot of other traders use them as well on other systems. Funny eh ?
My tp and sl are both 43, easy to understand and I do it without fail everyday.
Trading is all about following the rules, perfect executing the trades each day and only look at the monthly outcome (not daily).
I see the breakeven rule has brought a string of break evens the passed few days, but who cares, wait and see the result at the end of April (if your going to trade April that is) April isnt a bad month, just a bit hit and miss, unlike the June and July !!!! :whistling
That is sage advice Kinger, thank you. You are correct IMO about bank and other holidays with the no-trade rule. Personally, I will trade at reduced risk in August but am soldiering on with April.
On the thorny issue of backtesting, I've been using Dukas tick data for the past few months, with success. To have confidence in a system, I have to look at the history, and it has served me well, and we now have the luxury of several people having been on forward testing/trading for several months as a great performance record.
This is the first EA for me using bigger money, and Marc's 45/35/20/0 settings backtest and forward test very well for me. I have to follow the rules because I'm sleeping when it trades, so I'm happy with that too.
Best to you
Please tell me how you start 3 trading signal because on my platform it give me a error message if the first transaction starts.
Thanks.
uberpips
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Please tell me how you start 3 trading signal because on my platform it give me a error message if the first transaction starts.
Thanks.
3 seperate GU charts in mt4.
Brokerthanthou
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Please tell me how you start 3 trading signal because on my platform it give me a error message if the first transaction starts.
Thanks.
I am like you, I am now wanting to try the three start time system and have no idea how it is done.
THe reason I am eager to try something else is because I want to see some action on this demo account. I have been running FMT EA 4.3 since March 26th and have 2 trades in total since then, so I have tried resetting my inputs a couple of times.
I began with a demo $1000 account at Alpari UK and it is now at $1035, but that is better than my $ 1200TD webbroker stock market account , which I started two months ago and is now down
over $200 on 4 gold and silver mining stocks (this during an incredible bull run on precious metals!)
Maybe my timing for starting FMT was just off , and things will improve, but I am off to a slow start with FMT and might want to try Hammy's system.
