Well this goes to show that no system trades the same unless we all use the same broker and system parameters - each broker will have slight variations on their MT4 feeds, hence when it is a close call, as we had today, some will be winners other losers..
Overall it appears to be a winning system even with so many broker/system variations and longer term I am sure will make all on the forum considerably richer over time..
Overall it appears to be a winning system even with so many broker/system variations and longer term I am sure will make all on the forum considerably richer over time..
wiseambitions
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Yes, I don't think anybody did anything wrong nor did their EA, if they did what they normally do. There seem to be one or two occasions in a month when the trade is a disaster from the start, and hopefully we've got this months' main one behind us now!
In November we had a few bad days and the question was raised on here whether the strategy was broken forever. That would be a very immature knee jerk reaction from people who don't take the longer term view. Some days one set of members will have a better experience because of the experience with their own brokers, but I think there will be others when they will make it up again. If you keep a tally of the number of winning and losing trades over say 25 50 and 100 days you'll notice FMT is enjoying a consistent win/lose ratio. Don't keep amending your settings or omitting Mondays, Fridays, or any day when big news is due and I am confident you'll do fine.
supertrader05
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HI Mudder,
Have you been using the system on EUR/USD long? Have you had a similar win/lose/breakeven ration to GBP/USD? Done any backtesting?
Thanks in advance....
Apologies if this info is eksewhere in the thread... many pages to read!
Mark is using PFG Best - is anyone using PFG Best at 6:30? If they got No Trade also, that would add weight to the difference being due to different brokers.
Which leads me to....I'm just about to start trading FMT, and haven't chosen a broker yet. Can people help me out in choosing? I want micro lots to start. One argument I favour is to use the same as Mark PFG Best, then the only time I need to question anything wrt 'broker variable' is if my trade were to differ from to his. I like to KISS. Plus, seems tacit recommendation from Mark should be as good a signal as any. However, no-one else seems to use PFG Best? And Mark I believe used to use Alpari UK for FMT, and is using Alpari UK for Turbo demo? Any advice/comments most welcome please. TIA.
PFG Best demo......I use it for manuell trade on Oanda....it whas a no trade
IBFX mini live.....buy and 40 pips loss
Elovv
mudder1310
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I've only been demo trading eurusd, and while there seems to be more no trades the win % is good enough to keep me testing. I haven't found the same to be true of other pairs. What seems to happen is when the indicators for gbpusd and eurusd are the same they both win. It's rare that one is long, the other short, more likely one is trade the other is no trade.
I haven't backtested as thoroughly as others have, just going back a few months, and eurusd is not as much a winner as gbpusd, but it's good enough to pique my interest.
usdchf today has been closing in on the sl. Good thing it's not for real money.
Hi, I'm placing trades on IG index, how do you get the CCI indicator on the chart pls?
Gary
Gary you need the advanced chart on IG to get the necessary indicators. It can't be done on the quick chart. Hope this helps. Let me know if not.
Is it me or is this FMT results table wrong?
http://www.forexmorningtrade.com/results/
Mark mentions 2% risk of account for the cumulative figures but it seems the risk is $10 per pip from start to finish. Or am I missing something?
Cheers
http://www.forexmorningtrade.com/results/
Mark mentions 2% risk of account for the cumulative figures but it seems the risk is $10 per pip from start to finish. Or am I missing something?
Cheers
RedGuerrilla
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12-06-2010
FMT 4.1
Loss
-40 pips
Total: +45 pips - since 11-08-2010
Stats: 6 BE, 5 No Trades, 6 Profits, 4 Losses
Broker: FXSolutions - 4 decimal point charts
Settings: 40 SL, 20 BE, 35 TP
Correction I started on the 8th not the 7th.
I'm switching to PFG Best, I going to use the same broker Mark is using.
This is the second time this happens to me. Mark has two BE, and I have two losses.
I'm down -80 pips from Mark's pips.
FMT 4.1
Loss
-40 pips
Total: +45 pips - since 11-08-2010
Stats: 6 BE, 5 No Trades, 6 Profits, 4 Losses
Broker: FXSolutions - 4 decimal point charts
Settings: 40 SL, 20 BE, 35 TP
Correction I started on the 8th not the 7th.
I'm switching to PFG Best, I going to use the same broker Mark is using.
This is the second time this happens to me. Mark has two BE, and I have two losses.
I'm down -80 pips from Mark's pips.
2% risk is per your account size. If you have a $10K account then 2% is $200 per trade/40 pip stoploss would equal $5 per pip or .5 of a standard lot. So when you trade at 2% you need to multiply .02 x your account size to see how much you should risk per trade then divide by your stoploss to get the lot size. Hope that helps.
wiseambitions
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Long at 1.5744 (manual entry), hoping for a better day for all !
There is a lot of variation this morning with the entry price with different systems. I got in at 15747.8, a whopping 8 points away from my metatrader entry point. (15740). How do we kmow the official entry price? Looking at the chart it did close at 15740, but then shot up and trades must have caught it on the way up!!
Jashfx
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Definately a combination of the turbo scanning different times, and also the Market shooting up pretty quickly at open of 06:30am candle so even the normal FMT today slipped a few pips tody. I would also say that Internet connection speed can play a role when market moves quick at that time, speed of computer etc as this all affects communication between broker.
Personally I prefer to enter manual trade and try enter about 1 minute or even 30seconds before opening of 06:30am candle. This prevents any usual slippage that may happen at open of 06:30am candle.
I would also say that correct entry is always opening candle + spread. So today correct entry should of been 1.5740 + your spread (suppose you can add an extra pip also) but generally nobody was able to get in at 1.5742/1.5743 today.
Wont always work sometimes you get a better price being late.
