ForexMorningTrade System

[mudder1310]

Short on Alpari US for +35. Nice. I've found the EA to be stable enough to not trade manually, but I left all the settings the same as manual, no BE, no trailing. It would be interesting to figure a way to do 2-contract trades without having be awake for it. I'll mull it over.

 

[fuzzywun]

Cheers for that, I have an account with Alpari UK and im sure if i change base currency to GBP then it changes the tax implications. Will find out.

I'm not an authority, but Alpari is a broker, not a spread bettor. So I think tax will be the same..... Tax free is spread betting only as it is regarded as gambling. I believe the government makes a fortune out of taxing the bookies who have taken our money.

 

[Magicpip]

Earned 20 pips this morning. I set my TP at 20 and 30. I prefer Turbo's settings to regular FMT. Both the 1st TP and the 2nd TP worked fine. I use:

40SL, 0 BE, 5 Addpips1, 0 BE, 25 Addpips2, 20TP, 30TP, Exit 1, 60%.

I've varied the TP's trading live and haven't had any open 2nd profit level trades whatsoever. They both close at the same time.

 

[Wagtail]

Cheers for that, I have an account with Alpari UK and im sure if i change base currency to GBP then it changes the tax implications. Will find out.

Changing currency makes no difference to the tax implications. Still will be taxable under UK law as alpari is not a spread better.

 

[leerees]

Cheers for that, I have an account with Alpari UK and im sure if i change base currency to GBP then it changes the tax implications. Will find out.

Hi Jash,

Can you post your findings here, I have an account with Alapri UK aswell and mine is in USD.

I keep a trading journal and will be giving that to my accountant at the end of my tax year. I trade stocks on CFD's and I beleive that attracts tax, whereas spread betting is tax free.

Best to work your trading like a VAT account and just make sure you put aside 18%pa of your earnings.

 

[hammy66]

No Trade with Forex.com-UK at 6 or 6:30 start time.

But with TadawulFx:
6:00 start, sell trade hit TP=30
6:30 start, sell trade hit TP=30

I'm happy with 60 pips on a Monday..

 

[Elovv]

IBFX short
PFG Best No Trade (I yhink Mark use PFG)
Elovv

 

[tkbieber]

Another solid win of +35 pips. :clap:

Results here.

 

[deserteagle]

First half out at 25 pips, second half still in even though my chart shows i was up 37 pips, ea didnt close it out at the predetermined 35 pips, market was too fast i guess, happens sometimes.

I suppose it was not an error, but the spread.
When you go short, you open a position by selling at the Bid price, then you close the position by buying at the Ask price, usually Ask price is not showed in the chart, so you just see the Bid price in the chart, but you position is not going to be closed by the Bid price showed in the chart, your position is going to be closed by the Ask price hidden in the chart. The Ask price is the Bid price + the spread.
So if you say the chart showed you +37 pips, in case of 3 pips of spread, your position was at +34 pips of profit, therefore the TP in 35 pips could not be reached.

Just a possible explanation, hope it helps you.

 

[RedGuerrilla]

12-13-2010
FMT 4.1
Profit
+35 pips

Total: +74 pips - since 11-08-2010
Stats: 8 BE, 5 No Trades, 8 Profits, 5 Losses
Broker: FXSolutions - 4 decimal point price charts
and fixed spreads, Live Account
Settings: 40 SL, 20 BE, 35 TP

Forth time I deviate for Mark's results, except this time, it's in my favor.
I'm now down -81 pips, with slippage, instead of 116, from his results.

PFG Best, Mark's broker, had No Trade on his live account,
but said his demo account, same broker, had a trade signal.

It's possible that these borderline trades may over the long-term, average out.
But I'm still going to change my broker to PFG Best for next year,
I want to match Mark's results as much as possible.

Thanks everyone for posting your results and ideas . . .

 

[bouzo132]

I suppose it was not an error, but the spread.
When you go short, you open a position by selling at the Bid price, then you close the position by buying at the Ask price, usually Ask price is not showed in the chart, so you just see the Bid price in the chart, but you position is not going to be closed by the Bid price showed in the chart, your position is going to be closed by the Ask price hidden in the chart. The Ask price is the Bid price + the spread.
So if you say the chart showed you +37 pips, in case of 3 pips of spread, your position was at +34 pips of profit, therefore the TP in 35 pips could not be reached.

Just a possible explanation, hope it helps you.

Cheers for the response Deserteagle, but it was including spread, not to worry though as it did close the second postion eventually @ 35 pips anyway.

Ive had it not move stop to B/E also sometimes if it hits just above 20 very quickly and retraces, but thats fine as i watch most trades in the background. The ea also one time closed at trade 10 pips above my TP, which was fine , i wasnt paying attetion that time though.

December is doing not to bad all in all so far.

 

[ihelfman]

Just turned TMT EA off. Coin flip today.

 

[wiseambitions]

staying away today, conflicting signals. Flat line since 5 hours ago. I trust the template verdict.

Up about 127 pips so far for December. Agreed it is quite a good month so far. However twice my system has picked to trade when Mark didn't I lost on one such occasion and gained on the other. Also I have been reducing my target profit for each trade during this month

 

[LEEDAMIANS]

No trade with FXDD

 

[bouzo132]

No trade @ IBFX, was lucky as 5 seconds later CCI moved into positive!!

 

[PipZombie]

NO TRADE
IBFX - live account
forex.com - live account

 

[PipZombie]

Today is the US FOMC statement. Usually pretty dead for the US pairs until the statement.

 

[bluedancer]

Since someone suggested trying this system at 21:30 gmt, tomorrow after FOMC I am going to check it out live with the action. good trading all!!

on a note, there would have been a buy both at 6am gmt and 6:45 am gmt at FXDD and FXCM uk. I had trade triggers for both of those times and decided to close both trades.

Now I am happy to get some extra sleep tonight on the west coast of Canada

 

[Jashfx]

on a note, there would have been a buy both at 6am gmt and 6:45 am gmt at FXDD and FXCM uk. I had trade triggers for both of those times and decided to close both trades.


Ditto -- Alpari UK.

 

[Latintrader72]

hi
buy
tadawulfx 1.5870

no trade
fxcm no trade
alpari uk no trade
fxopen no trade