ForexMorningTrade System

[Tenapenny]

Quote from page 11 of the manual!

"Trading time explained
As I said, we need to enter the 1 and half hour before London market opens, which means at
6:30 UK time all year round, or 01:30 EST time (summer), respectively 2:30 EST time (winter).
Below are the correct broker trading times (BeginTime in indicator) for some common brokers:
Alpari UK - 07:30
PFG Best - 08:30
Prime4x - 08:30
FXDD - 08:30
If you use different broker, please read below how to determine the broker time zone.
There are also some brokers that shift their server time with the summer/winter daylight
savings. It is possible that you’d need to change the trading time in the indicator once the broker
shifts his time. You have to make sure that you always trade at 6:30 UK time."

Read that last sentence!

Also, page 17.
"As I said earlier, our trading time is 6:30am UK time all year round. You should get to the computer 5-10 minutes before 6:30am and wait until the last candle finishes."

 

[Pierre2]

Have you not had the email from Marc?

In the manual of the new Ea
the setting are TP 35
SL 40
BE 20
And Mark sent an email telling after backtesting these were the best setting

 

[jonjo]

No Jonjo, the manual states 1h30 before LONDON OPEN
In summer it is 5.30 GMT in winter 6h30 Gmt

Pierre, what page in the manual does it state "in the winter GMT"?
This is quote from page 11 "So when in reality we will trade at 5:30am GMT"
If Mark meant London time he should have said so and not GMT.
I have emailed him to clarify this but have not had a reply.
Still a great system.

 

[Pierre2]

not fluent in english but I will attempt to explain

Correct. You are right when you say we trade all the year at 6.30 london time. (pag11 manual)
But londontime is = GMT in winter and is= GMT+1 in summer

Uk has the day saving light

 

[jonjo]

Quote from page 11 of the manual!

"Trading time explained
As I said, we need to enter the 1 and half hour before London market opens, which means at
6:30 UK time all year round, or 01:30 EST time (summer), respectively 2:30 EST time (winter).
Below are the correct broker trading times (BeginTime in indicator) for some common brokers:
Alpari UK - 07:30
PFG Best - 08:30
Prime4x - 08:30
FXDD - 08:30
If you use different broker, please read below how to determine the broker time zone.
There are also some brokers that shift their server time with the summer/winter daylight
savings. It is possible that you’d need to change the trading time in the indicator once the broker
shifts his time. You have to make sure that you always trade at 6:30 UK time."

Read that last sentence!

Also, page 17.
"As I said earlier, our trading time is 6:30am UK time all year round. You should get to the computer 5-10 minutes before 6:30am and wait until the last candle finishes."

Tenapenny, I do not have that quote on page 17 in my manual, has the manual been updated. I have the original system manual and that is what I have been using. It appears that that was incorrect. Will revert to 6.30 am London time all year round.. Sorry to all I have posted to stating otherwise.

 

[Tenapenny]

Pierre, what page in the manual does it state "in the winter GMT"?
This is quote from page 11 "So when in reality we will trade at 5:30am GMT"
If Mark meant London time he should have said so and not GMT.
I have emailed him to clarify this but have not had a reply.
Still a great system.

Your page 11 must be different to mine as it does not mention gmt on my copy. I wonder if Mark edited it for later versions.

 

[Pierre2]

Jonjo what broker do you have?

 

[Tenapenny]

If the manual has been updated, log into the members area and see if you can download the latest edition. If not, maybe contact Mark and see if he can send it you.

 

[Pierre2]

Your page 11 must be different to mine as it does not mention gmt on my copy. I wonder if Mark edited it for later versions.

pag 11 of the manual stats:

<<We will check for trading signal every day 1.5 hour before London open, which corresponds to
6:30am UK time, so we need to make sure our indicator is set up properly.>>

In winter london time =GMT then the setting in EA are : 6.30+ (difference between server hours and GMT))
in summer London time =GMT+1 then the EA setting are: 7.30 + (difference between server hours and GM)


My jade to day is GMT+1
then in my EA I will put 6.30+1=7.30

 

[Pierre2]

If the manual has been updated, log into the members area and see if you can download the latest edition. If not, maybe contact Mark and see if he can send it you.

Manual of the system has not been updated.
Manual of EA has been updated but dont say nothing about london time; it refer to the old manual

 

[penny-a]

Your page 11 must be different to mine as it does not mention gmt on my copy. I wonder if Mark edited it for later versions.

Yes, the original manual was incorrect and has been updated. I posted a spreadsheet on page 361 in this forum for calculating EA time settings... hope it's been of help to some people.

 

[jonjo]

Jonjo what broker do you have?

Alpar(UK)....I will be setting it for 6.30 am all year from now on....07.30 Broker time.

 

[Pierre2]

Alpar(UK)....I will be setting it for 6.30 am all year from now on....07.30 Broker time.

Alpari server is now GMT+1 then the correct setting of EA are 7.30

 

[KiwiClint]

Out with -40. This is the 2nd trade this system has taken at the top of this range from last week, and up against resistance. I would have preferred a short today.

Not sure why there is alot of traders who are posting on here but do not trade the system, that is those who do not follow the rules and get out early. Its a mechanical system, and has been backtested on those rules. Your trading is discretionary.

If you are scared to trade the system, see a small drawdown or take a loss then dont trade.

Sorry bro but this has nothing to do with being too scared, it's about being able to read charts! Even a blind man would have been able to see that huge bearish outside bar 1 hour in to the trade and if you had looked at the stochastics on the 30min and 1 hour charts you should have been outa there just like me and running for your life! You don't have to lay down on the railway track and get mown down just because you think you need to adhere to a system when it's blatantly obvious it's all turned to custard! Remember the golden rule: '' Cut your losses and let your profits run! By the way, my rookie status only applies to MorningTrade because I am a new member but I have actually been trading live for 4 years. Regards, KiwiClint

 

[Deatil]

Have you read the manual? It does not state London time, it states GMT...Personally I think Mark has not made this clear in the manual. This is where all the confusion is. Here in London we also change our clock times. If he meant London time he should have stated that and not GMT.

The question is have YOU read the manual? Right off page 5 from the PDF,

Word per Word "Your trading day will look as follows:
 At 6:30am (UK time) you look at the charting platform and decide if you'll open the trade (more on the rules later)
 If the conditions are met, you'll simply place a trade and walk away. That's all. You don't need to sit in front of the screen, monitoring your positions. The trade will either hit profit target or stop loss automatically.

And yet again on Page 5 of the PDF it mentions AGAIN

"The only “drawback” of the system is that you have to get up at 6:30 UK time, but we always have to sacrifice something to be successful in life, right?
"

My God if some of you do not understand such simple rules , then you should not be trading.


And to make matters even more simpler Marc Sent an e-mail yesterday from his account with a Big Pic showing everyone the entry time and it clearly again showed 6:30 AM London time, how some can still have issues with this subject is beyond any help.
Simple enough ?

 

[megamuel]

4 losses and 3 wins since I've been using this EA

 

[nubchai]

Sorry I deleted my post which was about time which it seems we have cleared up.

I'm really looking forward to next week when we move out clocks back 1 hour in the US

 

[jonjo]

Manual of the system has not been updated.
Manual of EA has been updated but dont say nothing about london time; it refer to the old manual

The manual has been updated, that was where I was getting the confusion from over time. I got the system from day one and there are different explanations between the two manuals. I now have the updated version.

 

[Nashstarr]

Sorry bro but this has nothing to do with being too scared, it's about being able to read charts! Even a blind man would have been able to see that huge bearish outside bar 1 hour in to the trade and if you had looked at the stochastics on the 30min and 1 hour charts you should have been outa there just like me and running for your life! You don't have to lay down on the railway track and get mown down just because you think you need to adhere to a system when it's blatantly obvious it's all turned to custard! Remember the golden rule: '' Cut your losses and let your profits run! By the way, my rookie status only applies to MorningTrade because I am a new member but I have actually been trading live for 4 years. Regards, KiwiClint

Kiwi Clint, I couldn't agree with you more. I got out at -10. I will minimize a loss whenever I can. I think this forum has been extremely helpful and I am very pleased with the Morning Trade System. No two traders are alike and I am surprised at the criticism received by those who trade FMT as best fits their style of trading and/or level of experience. IMHO I think as long as you have a valid reason for an action (and it is not based on fear or greed) then you are good to go.

 

[barebud]

Kiwi Clint, I couldn't agree with you more. I got out at -10. I will minimize a loss whenever I can. I think this forum has been extremely helpful and I am very pleased with the Morning Trade System. No two traders are alike and I am surprised at the criticism received by those who trade FMT as best fits their style of trading and/or level of experience. IMHO I think as long as you have a valid reason for an action (and it is not based on fear or greed) then you are good to go.

Can you tell me if this chart looks right? I'm wondering if my trade time is screwed up?

Thanks

Bud