ForexMorningTrade System

[fuzzylogic]

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

Sounds good, similar in strategy to Megadroid EA but that EA has an accuracy rate in excess of 95% so the likelihood of hitting 2 loses in a row is quite rare (not that it doesn't happen). So i can't imagine if you hit 2 or even 3 loses in a row with Morning trade..

 

[traderathome]

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

so lets see how FMT goes about on friday opening

any one using AVAFX MT4 broker or Liteforex

 

[c0py]

For those of you who's EA didn't trade here's how I fixed it for myself.

Basically I found my old Alpari account details and it had $32 left in it so I wanted to use the EA with this account using micro lots, so I setup the EA to use 0.01 ($4 per trade) under the lots option.

With this setting it failed to trade, so I thought i'd do a strategy test using the same settings. then the strategy tester failed to trade for the whole year!

I then changed the Lots value to 0.1 and the strategy tester started working!

So last night I set the TP & SL to 30 and this morning my account nearly doubled with a $30 win!

 

[Dean31]

Symbol GBPUSD (Great Britain Pound vs US Dollar)
Period 15 Minutes (M15) 2009.01.02 06:00 - 2010.08.31 23:45 (2009.01.01 - 2010.09.01)
Model Every tick (the most precise method based on all available least timeframes)
Parameters TradingHour=7; TradingMinute=30; StopLossPips=40; ProfitTargetPips=40; Lots=0.1; MagicNumber=12345;

Bars in test 36014 Ticks modelled 18239269 Modelling quality 90.00%
Mismatched charts errors 0

Initial deposit 2000.00
Total net profit 2039.74 Gross profit 5759.74 Gross loss -3720.00
Profit factor 1.55 Expected payoff 8.61
Absolute drawdown 42.20 Maximal drawdown 346.40 (10.12%) Relative drawdown 10.59% (232.00)

Total trades 237 Short positions (won %) 116 (67.24%) Long positions (won %) 121 (54.55%)
Profit trades (% of total) 144 (60.76%) Loss trades (% of total) 93 (39.24%)
Largest profit trade 40.00 loss trade -40.00
Average profit trade 40.00 loss trade -40.00
Maximum consecutive wins (profit in money) 9 (359.74) consecutive losses (loss in money) 4 (-160.00)
Maximal consecutive profit (count of wins) 359.74 (9) consecutive loss (count of losses) -160.00 (4)
Average consecutive wins 3 consecutive losses 2

 

[Dean31]

Backtest graph..

 

[sunny12]

back testing should be done carefully due to GMT offset changes 2 times a year. some results wont appease you if you are on DD and that bcos of not considering the proper gmt offsets

A Valid point but I have done my testing on alpari UK and per the manual there are no changes on our side, as alpari uk changes the server time with DST.

So it is always +2 GMT for Alpari UK for the entire year.

 

[sunny12]

Symbol GBPUSD (Great Britain Pound vs US Dollar)
Period 15 Minutes (M15) 2009.01.02 06:00 - 2010.08.31 23:45 (2009.01.01 - 2010.09.01)
Model Every tick (the most precise method based on all available least timeframes)
Parameters TradingHour=7; TradingMinute=30; StopLossPips=40; ProfitTargetPips=40; Lots=0.1; MagicNumber=12345;

Bars in test 36014 Ticks modelled 18239269 Modelling quality 90.00%
Mismatched charts errors 0

Initial deposit 2000.00
Total net profit 2039.74 Gross profit 5759.74 Gross loss -3720.00
Profit factor 1.55 Expected payoff 8.61
Absolute drawdown 42.20 Maximal drawdown 346.40 (10.12%) Relative drawdown 10.59% (232.00)

Total trades 237 Short positions (won %) 116 (67.24%) Long positions (won %) 121 (54.55%)
Profit trades (% of total) 144 (60.76%) Loss trades (% of total) 93 (39.24%)
Largest profit trade 40.00 loss trade -40.00
Average profit trade 40.00 loss trade -40.00
Maximum consecutive wins (profit in money) 9 (359.74) consecutive losses (loss in money) 4 (-160.00)
Maximal consecutive profit (count of wins) 359.74 (9) consecutive loss (count of losses) -160.00 (4)
Average consecutive wins 3 consecutive losses 2

I get much different results on Alpari UK during the same time period. Wonder why ?

 

[c0py]

I get much different results on Alpari UK during the same time period. Wonder why ?

I got exactly the same as those results although I changes Lots to 1 and it turned $2k into $18k

 

[Adamup]

Forex Morning Trade Results for Non Farm Payroll Friday Releases using FXDD Broker
From Jan. 2010 -Aug. 2010

4 wins = +160 pips
2 losses= -80pips
2 No Trades

Net Result= +80 pips

NFP day is our next trade

 

[grimesd]

How many different currency pairs can this EA work for?

 

[c0py]

just the one GBPUSD

 

[bluedancer]

I love that everyone talks trading here! not personal stuff. great trading community.

I fixed my chart where I said the new download didn't give me my blue columns. it was the monitor, one which has a bad color scheme, so I changed the color on the indicator.

we have to remember we have an indicator on the chart and an EA. I am loving this system, as I tried supersonic, which also trades GBP/USD on the pre-open, but it only uses an EMA and trading range to determine entry, and though my son has had a few trades I have none taken by the EA in 3 weeks. This EA is much more regular.

 

[Fabius]

I love that everyone talks trading here! not personal stuff. great trading community.

I fixed my chart where I said the new download didn't give me my blue columns. it was the monitor, one which has a bad color scheme, so I changed the color on the indicator.

we have to remember we have an indicator on the chart and an EA. I am loving this system, as I tried supersonic, which also trades GBP/USD on the pre-open, but it only uses an EMA and trading range to determine entry, and though my son has had a few trades I have none taken by the EA in 3 weeks. This EA is much more regular.

Forex supersonic is a breakout strategy on London opening just like most system on London opening. I tried supersonic as well, London Forex Rush, Big Ben Strategy, Forex Cash Factory, Herman De Ville's Breakout Strategy, Forex Hidden System and...
I agree with you: this is by far the more consistent strategy with the less drawdown on (before) London opening that I came across.
Congratulations Mark!

P.S.
For those who have the EA not working. I noted that each time I open the EA, all the set ups are reset, so you should tick Allow DLL confirmation and Allow buy and sell in real time. I also had to change the time once again because it was 5.30-7.30 as before.
Hope it can help.

 

[traderathome]

Mark says to keep the lot size as it is at 0.10 = 1pip =1$
I will give a try based on that today

 

[traderathome]

i really appreciate Marks prompt response to my concerns with regard to the EA not trading on my 1st day.now that i have fixed the matter. i would like to suggest Mark to enable trading micro lots or automatic sizing of the lots based on equity.
Also to to have auto gmt offsets that would take away the traders inability to change when broker does change without notice.
I dont mind paying 10$ yearly subscription for mark do updates etc. thats my idea.
so through out the year we have system updated according to market conditions if required

 

[Prof8t]

i really appreciate Marks prompt response to my concerns with regard to the EA not trading on my 1st day.now that i have fixed the matter. i would like to suggest Mark to enable trading micro lots or automatic sizing of the lots based on equity.
Also to to have auto gmt offsets that would take away the traders inability to change when broker does change without notice.
I dont mind paying 10$ yearly subscription for mark do updates etc. thats my idea.
so through out the year we have system updated according to market conditions if required

The EA currently has the ability to trade micro lots. I tested a live account with a .02 micro lot setting.

 

[traderathome]

The EA currently has the ability to trade micro lots. I tested a live account with a .02 micro lot setting.

this got me thinking

 

[LIQUIDKNUCKLES]

Mark says to keep the lot size as it is at 0.10 = 1pip =1$
I will give a try based on that today

So, I wouldnt be able to change the 0.1 lot to 0.2 or even 1 standard lot?

 

[hammy66]

Hi, my first post here.
I've read thru this thread but can't find info on this question: can the new EA be installed as stand alone or does the indicator need to be attached to chart as well for the EA to work ?

thanks !

 

[fuzzylogic]

i really appreciate Marks prompt response to my concerns with regard to the EA not trading on my 1st day.now that i have fixed the matter. i would like to suggest Mark to enable trading micro lots or automatic sizing of the lots based on equity.
Also to to have auto gmt offsets that would take away the traders inability to change when broker does change without notice.
I dont mind paying 10$ yearly subscription for mark do updates etc. thats my idea.
so through out the year we have system updated according to market conditions if required

I think the auto GMT offsets is a very good idea, alot of the lastest EAs come with this feature. Saves us the hassles of trying to figure out the GMT offset.