Mrs Market
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the previous low on the daily chart is at 15484 - so as long as we get the signal by about 15530 we might be lucky.
Latintrader72
Junior member
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hi,
no trade
fxcm
tadawulfx
fxopen
alpari uk
no trade
fxcm
tadawulfx
fxopen
alpari uk
Take this forum with a grain of salt. Most people on here dont even trade the FMT system. They create their own rules, then break them.
Cobber
Even better, give two people the same system and you will always get different results. Just a thought to ponder to all those new to the forum. Cobbler, I believe you are correct, there are fewer FMT by-the-rules (per marks rules) trading the system. I can report that I am trading the 40SL 20BE 35TP with 6:30 am start time and are very satisfied with the results and will continue to use this setup.
I think you are over generalising old chap. This forum is for those who trade, as I do,the FMT system and/or EA without tweaking.
Those inclined to play with settings should use the TMT EA where there are a great deal of parameters to tweak.
For me, the raw FMT system works, and I trade it live.
Am still testing TMT but will go live after the silly season break.
Cheers
Eruo_d
GO FMT STANDARD! I have made over 400 pips with this system since September. I am very happy with the performance using the standard settings.I use FMT with pretty much standard settings other than I have dropped the Stop Loss to 38 pips, to cover the cost of the spread - usually around 2-2.5 pips.
While last month was not exactly a stellar month for me with FMT, the previous couple of months have won me over with this system and it is definitely staying as one of my daily trading methods.
While last month was not exactly a stellar month for me with FMT, the previous couple of months have won me over with this system and it is definitely staying as one of my daily trading methods.
I have shut down my forex trading with EAs until the new year.
Looked at my results so far this week, this month and decided they were good enough to shut down last night. So, no trades for me today. I will still be checking in to this forum till xmas.
cheers !
Looked at my results so far this week, this month and decided they were good enough to shut down last night. So, no trades for me today. I will still be checking in to this forum till xmas.
cheers !
wiseambitions
Established member
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My actual results since installing the template, with effect from 18th October, are a net gain of 212 pips. I am sure 'over 400 pips since September' was quite achievable. In my very careful backtesting to 1st September, using real prices from my own broker I would have made +747 had I always been aiming for TP 35. However I have also noticed that slightly higher gains would have been possible, involving fewer losses, for a slightly lower profit target, still keeping to 40SL. It all depends somewhat on favourable market conditions, and I am sure everybody who sticks with the same settings, without forever amending them, will do well in the medium term.
I have every confidence in the starting signal, but it's up to the member's individual discretion how these signals and settings are applied.
Some of my colleagues get themselves 400 pips much more swiftly, trading in all sorts of currency pairs, and taking bigger risks, but it involves a lot of management on their part. If FMT carries on with the same success rate for the foreseeable future, yielding say 150 pips a month, many of us will enjoy a useful improvement in our lifestyle!
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Hi Copper,
I have a lot of experience with back tests. Therefore all who are doing great backtests, showing super performance, have to know, that most of these backtest are garbage.
Yes it is possible to create even a 99% modelling quality. But you need the best data on 1 min or even better tick base.
The question is where to get it from? One source is the mentioned one (forextester) and I used it different times. But I'm still not convinced that this data are ok.
For example I used it to make a backtest for 2010. Unfortunately the result was very disappointing.
with ForexTest data: Profit -5733 USD, DD 60%
with MetaQuote Data: Profit 8595 USD, DD 6.5%
Same settings of course.
I guess most of the users here are using the MetaQuote data. Forget it, they are not reliable. E.g. I found just by good luck 2 weeks missing data (15 Oct. 2010 22:45 last data, next 10 days later 01. Nov. 2010, 14:45). I'm pretty sure that there are more data holes. So don't even play with these data.
I "believe" that I have some reliable data from 11 Nov until 30 Nov 2010.
I performend a backtest in this periode with 6 brokers:
Alpari (live): 10 trades, profit 126.50 USD
Alpari (MetaQuote Data): 10 trades, profit 116.98 USD
Alpari (ForexTester data): 10 trades, profit 95 USD
MIG (live): 10 trades, profit 127.50 USD
ATC (demo): 9 trades, profit 228 USD
ATC (live): 10 trades, profit 210 USD
Although the number of trades are almost the same (10) the profits vary substantially.
In order to make as much as possible reliable and comparable backtests we need first of all good data. Of course there are some sources available, but usually you have to buy them. This would be a possibility if we could share it.
Another source is DukasCopy.
http://www.dukascopy.com/plugins/fxMarketWatch/
I personally believe that they are very reliable, although not perfect. The only problem is, that it is kind of difficult to download the data. You have to do it day by day and than to put all data together. But because we have here some members who are good in programming maybe there is a way to get these data and make them for all available.
But even than backtests and real results are still different due to internet speed, ping time, order execution, unreliable brokers, etc.
To see how reliable data are, some of us could do the following test:
I read that some are running this system with the standard setting already for some months.
Please can you do a backtest with the same settings and compare the live results with the backtest results. This would be an eye opener.
May be there are also some other ideas.
Just my thoughts on backtests.
Antomi
Hi PipZombie,
That sound very good. Unfortunately I just started with the system some days ago and don't have such a data base.
Please read #4979, where I suggested some backtests. It would helpful if you could try that.
Which broker do you use?
Thanks
Antomi
