ForexMorningTrade System

tmng said:
I just bought FMT system, First time trade was loss -42.6 pips in my live account, Anyone knows that the best setting for the manual and EA?
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Being new to the system I suggest you trade with the following tested and proven setting of 45/35/25/5. :)
 
tmng said:
I just bought FMT system, First time trade was loss -42.6 pips in my live account, Anyone knows that the best setting for the manual and EA?
Click to expand...

Yes I agree about Pod's suggested settings. If you go back through some of the previous posts you will find a wealth of opinion about which setting to use and also, generously, many traders post their results and back-test results.

The one bit of advice that I (and many others) would offer is to stick with what you go for and don't be tempted to chop and change.

Bad luck getting a loss first time out but you should see some more positve results shortly. Good Luck and welcome. Chris
 
shoot2scoot said:
Yes I agree about Pod's suggested settings. If you go back through some of the previous posts you will find a wealth of opinion about which setting to use and also, generously, many traders post their results and back-test results.

The one bit of advice that I (and many others) would offer is to stick with what you go for and don't be tempted to chop and change.

Bad luck getting a loss first time out but you should see some more positve results shortly. Good Luck and welcome. Chris
Click to expand...

Hi Chris, I'll let you know when Forexpeacearmy has added SLM to their review site, I'm sure you will have a field day :)
 
mike1booth said:
mike1booth said:
RE: SLM problem

Update.... Reply received from my last email to SLM. This guy is unbelievable!

"MY PLATFORM"??? I think he means the one I downloaded from SLM?

Hello
This is Paul and I wrote the previous email.
I am sorry if we were talking over each other, but you were not listening to me, and I was trying to help, which is why I called you.
It is not our fault you are experiencing problems. Our servers are fine.
The fact that you have other accounts with other brokers with no problems is good, so do I.
I had no problem using FMT today, but then I do not have an issue with MY connection or MY platform.
The issue is YOUR platform or the EA installation on it.
Whether that is the EA directly or the EA conflicting with it or just some glitch with your MT4 platform is difficult to say.
But hopefully a reinstallation will solve this problem.
Regards
Paul
SLM
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The tone of his email is congruent with most SLM communication! Thanks to these jokers I've decided to go for an ECN broker. Do I care that I'm no longer trading tax-free? Nope. After "that" price feed freeze at "that" crucial time and the one occasion where my EA was actually stopped :sneaky: , I figured I would save myself the long term heartache of dealing with market makers such as SLM.

At the risk of forum readers sucking on some eggs, I have a few points :D

I don't see myself making much more than 10k profit this year so spreadbetting with SLM (using FMT) is pointless. Add this to the fact that once you hit around a 45k balance, your lot size would need to exceed their max of £50 per pip, that alone would reduce the compounding effect of FMT MM.

I'm sure that most people here know that unlike ECN brokers, SLM (and other retail brokers) take the other side of your trade (read SLM's T&C!). So if you are buying, they are selling - based on the notion that most amateur retail traders lose. This type of broker does not want you to be profitable long term, as this means they lose money! Can you imagine how much they would lose if everyone was trading with FMT - which can be 85% accurate?

I'm not naive enough to believe that traders on this forum are not in it for the profits; this is why we trade FMT! The conflict of interest between traders and retail market makers is too significant to even think we will be as profitable as our backtests may suggest. Hence why I don't mind paying CGT on bigger potential profits (I'd just be happy to have made enough to pay CGT!). If you have a small trading account (£1000) do yourself a favour and change your broker if you feel they are playing dirty ;)

I would sincerely love to hear of anybody here that has something nice to say about a market maker.
Click to expand...
 
thruster9121 said:
mike1booth said:
I don't see myself making much more than 10k profit this year so spreadbetting with SLM (using FMT) is pointless. Add this to the fact that once you hit around a 45k balance, your lot size would need to exceed their max of £50 per pip, that alone would reduce the compounding effect of FMT MM.

.
Click to expand...

Hey, Thruster I hope the therapy (relieving stress by writing posts) is working? it certainly did for me! :mad: One small point I must defend SLM on is that you can trade much higher than 50£PP. Although the drop down menu stops at 50 you can manually overtype what you want.

Other than that I am 100% with you.(y)

Chris
Click to expand...
 
shoot2scoot said:
thruster9121 said:
Hey, Thruster I hope the therapy (relieving stress by writing posts) is working? it certainly did for me! :mad: One small point I must defend SLM on is that you can trade much higher than 50£PP. Although the drop down menu stops at 50 you can manually overtype what you want.

Other than that I am 100% with you.(y)

Chris
Click to expand...

Must say I agree with Thruster on his SLM point of view, I personally am planning on using them for "House money", meaning I will put in up to 1k with higher risk and withdraw returns as and when they happen, leaving half the profits to compound or as a safety cushion to absorb the drawdown months.

My main Oanda account will be left untouched as it compounds away.

Does anyone know of a good broker that is not fussy on numerous withdrawals (4 to 6 per month maybe) and has less than a 3 day window before it arrives in ones bank account ?

Must say I am more and more apprehensive with SLM, I would not trust them with the family silver (large account) as they are fairly new and you never know how long they will be around for, hope I'm wrong. :)
Click to expand...
 
Shoot, my post did sound like a bit of a rant! Interesting to hear that lot sizes can be more than 50, it says 50 in their T&C?
 
magicdogsbrain said:
RobM. said:
My interruption was only a few seconds (exactly at 6:15 - on three consecutive days).

It is either overcapacity or SLM playing dirty tricks. I am willing to accept that it is not overcapacity.


Hey Magicdogsbrain, I've been reading your posts on the spread-betting forum.

What was the link to the MT4 monitoring prog? I lost the post and couldn't re-find it?

Is it easy to set up and use?

Many thanks

Rob.

Many thanks
Click to expand...
Click to expand...
 
CNS - Hyper-V Integration Services Update v6.1

Hi, anyone using CNS and has been asked to update over the weekend, watch out! I have done so and my FMT EA is now showing a 'X' where the :) should be. The journal says it loaded successfully but worth checking this evening if you can't watch at 06.15? C.
 
Re: CNS - Hyper-V Integration Services Update v6.1

shoot2scoot said:
Hi, anyone using CNS and has been asked to update over the weekend, watch out! I have done so and my FMT EA is now showing a 'X' where the :) should be. The journal says it loaded successfully but worth checking this evening if you can't watch at 06.15? C.
Click to expand...

Check the EA properties (F7): On the tab "General" Trading is allowed was activated?
Otherwise you`ll get signals only

Regards
 
Morning all, getting different signals from my brokers this morning, Oanda showing No Trade, Alpari possible Short, SLM -No Trade :|
 
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