MTPIPS - You could not be more correct!
Remember why you made the purchase of Morning Trade? It was possibly for the same reason as I - absolute statements made about absolute performance.
And the outcome? Simply another EA with mixed results. Again - the Seller delivered loads of sales hype in bold letters to cause us to buy. He made absolute statements about performance and those statements were not a reality for me. Maybe the experience of others is different and mine is unique.
Sure there are some positive returns for some - but it would appear that this occurs only after tuning, changing and optimizing. And an "optimized" EA is worthless - as it ALWAYS goes out of tune after some brief time period.
Post your feelings on forexpeacearmy.com - as I intend to do. Let others benefit from your opinion and experience before they buy.
I have been trading manually and properly, using price action and a few selected indicators for just about 3 years - full time. Every so often in a weak moment after spending long hours at the screen, I get lazy and fall prey to an EA sales pitch. My fault - my mistake. I always get knocked back into reality - and the truth - that successful trading comes from learning how to trade - not learning how to use an EA.
Sorry for the rant - just a bit fed up today.
This is all just my humble and less-than-objective opinion. Do your homework and form your own before you act. I could be entirely wrong about my opinion. I hope that I am.
I wish you and the rest, the best.
Remember why you made the purchase of Morning Trade? It was possibly for the same reason as I - absolute statements made about absolute performance.
And the outcome? Simply another EA with mixed results. Again - the Seller delivered loads of sales hype in bold letters to cause us to buy. He made absolute statements about performance and those statements were not a reality for me. Maybe the experience of others is different and mine is unique.
Sure there are some positive returns for some - but it would appear that this occurs only after tuning, changing and optimizing. And an "optimized" EA is worthless - as it ALWAYS goes out of tune after some brief time period.
Post your feelings on forexpeacearmy.com - as I intend to do. Let others benefit from your opinion and experience before they buy.
I have been trading manually and properly, using price action and a few selected indicators for just about 3 years - full time. Every so often in a weak moment after spending long hours at the screen, I get lazy and fall prey to an EA sales pitch. My fault - my mistake. I always get knocked back into reality - and the truth - that successful trading comes from learning how to trade - not learning how to use an EA.
Sorry for the rant - just a bit fed up today.
This is all just my humble and less-than-objective opinion. Do your homework and form your own before you act. I could be entirely wrong about my opinion. I hope that I am.
I wish you and the rest, the best.
I think that there is probably a large number of silent followers of your messages on this site.FMT for me this week:
7:00 NY, 1 TP, 0 SL, 2 BE+5, 2NT = + 40 pips
8:30 NY, 0 TP, 1 SL, 3 BE+5, 1 NT = -20 pips
total = +20 pips.
not much interest here ?......I will not post every day, maybe at end of week only.
cheers !..
Please keep them up
I have noticed the past few weeks that my settings are a bit too optimistic, I'm gettings alot more BE+5 instead of reaching the 30 pip TP, thus we are wasting some good pips because the market is falling back before getting to my TP setting. Therefore starting this week I am changing my settings to a less aggressive level to try to capture at least 20 pips and reduce my TP and SL settings, but this will not allow enough room to include a BE+ setting as before.
My new settings are now SL=25, TP=22, BE=12.
Also I am adding a new start time, 13:00 NY., this looks to have some potential, using the same settings as above.
So far this week , my results with new settings and new start time : (25-22-12-0)
7:00 NY , 1 TP, 0 SL, 1 BE, = 22 pips
8:30 NY, 0 TP, 0 SL, 1 BE, 1 NT, = 0 pips
13:00 NY, 2 TP, 0 SL, = 44 pips
total this week, so far, +66 pips.
hopefully we will capture more TPs with these settings scaled down a little for todays market.
cheers !
My new settings are now SL=25, TP=22, BE=12.
Also I am adding a new start time, 13:00 NY., this looks to have some potential, using the same settings as above.
So far this week , my results with new settings and new start time : (25-22-12-0)
7:00 NY , 1 TP, 0 SL, 1 BE, = 22 pips
8:30 NY, 0 TP, 0 SL, 1 BE, 1 NT, = 0 pips
13:00 NY, 2 TP, 0 SL, = 44 pips
total this week, so far, +66 pips.
hopefully we will capture more TPs with these settings scaled down a little for todays market.
cheers !
So far this week , my results with new settings (25-22-12-0) and new start time (13:00 NY):
7:00 NY , 1 TP, 0 SL, 2 BE, 1 NT, = 22 pips
8:30 NY, 1 TP, 1 SL, 1 BE, 1 NT, = -3 pips
13:00 NY, 4 TP, 0 SL, = 88 pips
total this week, so far, +117 pips.
These new setting seem to be better for this market.
good luck tomorrow !
7:00 NY , 1 TP, 0 SL, 2 BE, 1 NT, = 22 pips
8:30 NY, 1 TP, 1 SL, 1 BE, 1 NT, = -3 pips
13:00 NY, 4 TP, 0 SL, = 88 pips
total this week, so far, +117 pips.
These new setting seem to be better for this market.
good luck tomorrow !
So, this system does not work any more or does it?
Just paper trade for a couple of years and fine tune the heck out if it and let us know.
So, this system does not work any more or does it?
Did you read any of the previous posts ??????
:|
:innocent:eek::-0Thx for the update.. great settings!..
still testing this EA even on different time periods..
guess should have something good to post here in about a year
That won't work for long, the FMT indicators get it right much more than wrong, but if you set TP too high you may not hit it often enough to be profitable. It's a very slippery slope to work on.
good luck my friend !..
That won't work for long, the FMT indicators get it right much more than wrong, but if you set TP too high you may not hit it often enough to be profitable. It's a very slippery slope to work on.
good luck my friend !..
So far it has been good with your settings. As soon as it starts the losses again I will put it back on the EA. Yesterday was the hat trick on all 3 times!
Cheers,
MTPIPS
my spread is 1 or less on GU with Pepperstone ECN, NY servers.
if you are using BE=18, why not set BE+ =5 so you get some extra pips sometimes ?
I find that BE=12 is much safer in this market but it does not leave room to set BE+ anything but zero.
good luck !.
