ForexMorningTrade System

[nitethinker]

Nice one! Thanks Mark for this simple and nice system.

Just bought it 2 hours before trading time, spent 1 hour checking thru the past trades from April till August 2010, find it so simple and straightforward yet felt so confidence. Decided to trade it live immediately. Entered the trade manually since I'm around the PC, went for lunch, and an hour later I was back in time to see it closed at +40pips.

A good start having my share of 40pips today.
Used 5% risk.

 

[bluedancer]

Hi Marc,

I just downloaded the new indicator and now I don't get the blue trading column on the chart, is that correct?

 

[Kinger]

HI Kinger, Can u teach me how u change to seeing the pip count instead of the dollar amount?

Goto View-> Terminal from the top menu
Then right click anywhere in the terminal window to get the sub menu
Select Profit-> As Points

 

[Kinger]

i rather play with recommended settings as marc has described. dont wanna mess up this thread and confuse newbies such as me as to which is is best settings.

also marc if there is an option to update the template + EA settings make it as an option instead a must

Yes, don’t change any settings !!!!
All you’re doing is massaging past data to fit the best outcome.

This strategy is based on the price moving before the London open…
that’s the one and only setting and you can’t change that!!!!


If you change anything it becomes a new system entirely for a new thread

 

[Fabius]

we should always enter 1.5 hour before London open, so if your broker changes time you should too.
Some brokers, like Alpari UK keep the time in sync with UK time, so we trade at the same time all year.

As for the NewYork open, the results are interesting. I'll test it on longer data and let you know.

Thank you for this clarification.
Just wanna let you know that at 07.30 I entered (well, the EA entered but without the EA I would have entered the same on my own) the trade on GBP/USD sell at 1.5442 and 46 minutes later the profit has been reached at 1.5402 :clap:

No success with EUR/JPY on Tokyo...
Need more testing on it.

Mark, congratulations: this is the simplest and best system I came across so far (and I tested more than one hundred).

I'll open a bottle of red wine (Valpolicella Ripasso -well, I am Italian after all...- :cheesy and I'll drink a toast to you :cheers:
Prosit!

P.S.
What about the spread? Should we add it to the values of take profit and stop loss?

 

[Prof8t]

which pair are you testing on the ny open?

gbp/usd

 

[Prof8t]

I month is nothing. If someone here can test the EA with strategy tester to go back 3 or 4 years we can get a good back test of both London and NY sessions. If there's someone here that knows how to do that or i will try to learn this weekend. Paris

Very much aware of this... smart guy. Was just a beginning to the research, not a final.

 

[mitchp]

For some reason my EA didn't take the trade last night.

 

[mcib11]

No, my EA didn't either. It looked to go short and would have been profitable, but I didn't stay up to watch it at the open...maybe the setup wasn't there? Anyone else not get into the trade using the EA?

 

[fuzzylogic]

Me neither, kinda weird coz all the condition seems aligned for a short trade

 

[fuzzylogic]

I watched the trade but it didn't get into it for some unknown reason..? Strange

 

[Prof8t]

No, my EA didn't either. It looked to go short and would have been profitable, but I didn't stay up to watch it at the open...maybe the setup wasn't there? Anyone else not get into the trade using the EA?

My EA was sucessful. Entered the trade and the trade was profitable.

 

[Dean31]

HI everyone - this is my 1st post. Thanks Mark for a great simple system! Can't remember seeing something so simple work so well!

With such a high win rate, I wonder if it wouldn't make sense to apply a binary system to your lot size in order to recover previus losses. This is a great system! I've seen a 2 year backtest and it looks great so I wonder if adding to your lot size after a loss would improve profits...

Regards
Dean - SA

 

[jrcollins2009]

I have demo accounts & live accounts on 3 different brokers (FXDD, IBFX, Forex.comUK). All had successful trades this morning.

 

[traderathome]

No, my EA didn't either. It looked to go short and would have been profitable, but I didn't stay up to watch it at the open...maybe the setup wasn't there? Anyone else not get into the trade using the EA?

me too did not get the trade on my EA

in forex the opportunity is never lost live another day to win:clap:

 

[traderathome]

me too did not get the trade on my EA

in forex the opportunity is never lost live another day to win:clap:

Those who had no trades please letme know there GMT offsets and broker name

Mine AVAFX GMT offset 0.00

 

[traderathome]

i was re-checking as to why it was not trading:
probable cause would be
1. i opened the FMT indicator - and found Allow DLL confirmation not ticked
2. Stop loss on indicator is 40 TP 40 where as on the expert advisor it was 40 and 30 respectively (both are attached to GBPUSD M15 chart

Mark can you confirm whether above scenarios will not let EA to trade ?
Thanks in advance

 

[fuzzylogic]

i was re-checking as to why it was not trading:
probable cause would be
1. i opened the FMT indicator - and found Allow DLL confirmation not ticked
2. Stop loss on indicator is 40 TP 40 where as on the expert advisor it was 40 and 30 respectively (both are attached to GBPUSD M15 chart

Mark can you confirm whether above scenarios will not let EA to trade ?
Thanks in advance

I had the same scenario as you, i have since changed it to both of the same value.

 

[fuzzylogic]

Those who had no trades please letme know there GMT offsets and broker name

Mine AVAFX GMT offset 0.00

Mine Forex.com GMT offset 0 & Think Forex GMT offset 0, both didn't engaged the trade

 

[Kinger]

HI everyone - this is my 1st post. Thanks Mark for a great simple system! Can't remember seeing something so simple work so well!

With such a high win rate, I wonder if it wouldn't make sense to apply a binary system to your lot size in order to recover previus losses. This is a great system! I've seen a 2 year backtest and it looks great so I wonder if adding to your lot size after a loss would improve profits...

Regards
Dean - SA

Hi Dean, can you share those results you have please ?