Latintrader72
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-40
bluedancer
Well-known member
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that was a good choice. I wonder what made you trade the EU and stay out of the GU? I have found the GU frustrating as it has ended up being reverse trades that I could not read soon enough...
These results are very poor. I got similar results during this period.
80 pips for 6 weeks means : 30 days of work. That is not even 2,7 pips per day on average. It seems to me me that FMT is more a kind of random generator with a 50/50 chance of producing results. You must also realise that the average daily range for gbpusd is 150 pips. Compared to this daily range, a 80 pip result over 6 weeks is very disappointing.
bluedancer
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Yes to me too. Even more disappointing since there is at least a good 40 pip move around the time of FMT every day, but a straight system like this will miss it often. I have not checked out TMT yet to see if it is better. 6 weeks is a long time to wait for 80 pips profit, so the EA really is for those who will set it and leave it, which is not me...
Deatil
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bluedancer
The Eur/Usd trade today was a trade that people will say "it was and FMT" but since I know you trade full time ,as do I. Then I know you will understand what I am about to explain.
Between 12:00 AM and 4:00 AM New York Time, the Eur/Usd what just sitting in a tight range which we can see between 1.3119 and 1.3147 .
Some will say the indy for FMT were in a 'Buy" , but it was going no were fast.
What caused the Eur/Usd to "pop" up was the news released at 4:39 Am New York time ,that China was to purchase between 4-5 Billion euros of Portuguese debt. That was the real cause of the move and it happen at the exact time the news came out .
Short lived but never the less a 34 pip pop up breaking the range top.
To be honest I am amazed as to why no one has done a study , regarding how many wins and losses were caused by news.
A little off topic ,but to say FMT was the cause which I am not saying anyone say that, but never the less to give credit to FMT for the today Eur/Usd pop up is an overstatement in my view.
Ok back to skiing and hot coco
Blue,
I went on a short trip last week and did not trade both pairs. For personal reasons, I don't trade on some days. I traded EU these 2 days due to my own judgement. For GU, it looks risky to use Fmt for trade entry.
Right now, TMT offers timing and profit taking settings, but there's no optimized settings that you could plug in and outperform FMT. Some TMT users have provided impressive backtests, though I don't know how they can possibly backtest all the variables. As for live trading, there haven't been enough results to brag about yet.
For the future, Mark said he will add some features to TMT. I'd like the ability to create pending order trades based on 5-10 pip pullbacks from the ideal price, which I often do manually. Mark said he will try to add this feature. If nothing else, pullback entries can even out our risk-reward ratio.
Based on others' backtests, I bailed out on both EAs until January, I would not judge either EA based on December.
wiseambitions
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I once calculated that more money could be made by trading in the opposite direction to MACD and stochastics on a 1 hr chart, but soon after implementing the plan trading turned rational again, so guess what? I lost a fair few trades proving that it was a silly idea
You'd be turning a rational trade into a gamble. That is firmly against FMT principles
The idea behind FMT is there is a burst in the direction of a trend, but the problem as I see it during December has been that either one is too late getting in to the trade (at 6.30) or else it runs out of push, or both. Perhaps more is to be gained by still acting upon FMT starting signals but to target lower TPs
bluedancer
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Or to look at FMT indicators 3-4 hours later, a few hours before NY open, after a new trend is established by London. But this is in hindsight due to recent activity and imho each day has to be seen with fresh eyes.
I like the idea of lowering TP especially when there has been a clear trend for 6 hours before, because we are likely catching the end of that move. FMT then becomes a scalp trade and not an intraday trade. Ideas are good, as long as they don't mess with your head.
If you want to do a reverse trade to FMT, is it not better to use either different setting or different indicators to detect a reversal, rather then settings designed to show continuation of the present short term trend?
great chats! happy holiday time ALL!
RedGuerrilla
Active member
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12-22-2010
FMT 4.1
Loss
-42 pips
My stats since 11-08-2010: 6 No Trades, 8 BE, 9 Losses, 10 Profits, Total: -18 pips
All Pips include slippage
Mark has accumulated +464 pips from when he started posting from 08-02-2010 to 12-21-2010.
His worse drawdown of -162 pips was in August.
On 12-08-2010, he hit his highest pips of +556.
I hit my first drawdown this month, my second month trading FMT/EA with the standard settings.
Mark had 10 days of drawdown in August, I'm having my first.
Tracking Demo Accounts for 12-22-2010:
Long trade:
FXCM, 1.54883, 1.54470, -41.3
FOREX.com, 1.54885, 1.54477, -40.8
PFG Best, 1.54895, 1.54487, -40.8
No Trade:
IBFX
FMT 4.1
Loss
-42 pips
My stats since 11-08-2010: 6 No Trades, 8 BE, 9 Losses, 10 Profits, Total: -18 pips
All Pips include slippage
Mark has accumulated +464 pips from when he started posting from 08-02-2010 to 12-21-2010.
His worse drawdown of -162 pips was in August.
On 12-08-2010, he hit his highest pips of +556.
I hit my first drawdown this month, my second month trading FMT/EA with the standard settings.
Mark had 10 days of drawdown in August, I'm having my first.
Tracking Demo Accounts for 12-22-2010:
Long trade:
FXCM, 1.54883, 1.54470, -41.3
FOREX.com, 1.54885, 1.54477, -40.8
PFG Best, 1.54895, 1.54487, -40.8
No Trade:
IBFX
supertrader05
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In today at 1.5421. I like this trade as the stop is below the 200 daily SMA.
I am in on both FMT and TMT.
This will be my last trade until the New Year.
Many have posted that December is an unpredictable month and they seem to have been proven right.
None the less, I belive that the system is sound and therefore look forward to sucess in the new year.
All the best to Mark and everyone that suports FMT/TMT
Both out at SL, -40
This will be my last trade until the New Year.
Many have posted that December is an unpredictable month and they seem to have been proven right.
None the less, I belive that the system is sound and therefore look forward to sucess in the new year.
All the best to Mark and everyone that suports FMT/TMT
Both out at SL, -40
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Athought the cable is overbought, i went long with the indicators and the result is a loss of 44 pips
I think this is the first time we have four consecutive losses!
I make it 3 consecutive losses, Monday was a winner.
RedGuerrilla
Active member
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12-23-2010
FMT 4.1
Loss
-42 pips
My stats since 11-08-2010: 6 No Trades, 8 BE, 10 Losses, 10 Profits, Total: -60 pips
Pips include slippage
2nd drawdown in a row. 3 Losses in a row not 4, Monday was profitable . . .
Tracking Demo Accounts for 12-23-2010:
Long trade:
FXCM, 1.54214, 1.53817, -39.7
MB Trading, 1.54882, 1.54481, 40.1
IBFX, 1.54216, 1.53799, -41.7
FOREX.com, 1.54208, 1.53803, -40.5
PFG Best, 1.54215, 1.53805, -41.0
FMT 4.1
Loss
-42 pips
My stats since 11-08-2010: 6 No Trades, 8 BE, 10 Losses, 10 Profits, Total: -60 pips
Pips include slippage
2nd drawdown in a row. 3 Losses in a row not 4, Monday was profitable . . .
Tracking Demo Accounts for 12-23-2010:
Long trade:
FXCM, 1.54214, 1.53817, -39.7
MB Trading, 1.54882, 1.54481, 40.1
IBFX, 1.54216, 1.53799, -41.7
FOREX.com, 1.54208, 1.53803, -40.5
PFG Best, 1.54215, 1.53805, -41.0
Monday was no trade on FMT, TMT was profitable, entered at 8-15.
Well, Monday was no trade for me (Live - FXDD), and friday was a loss, so its Friday loss, monday no trade, tuesday, wednesday and thursday were losses.
Hope the coming days recover thoses losses
Zulu, who has an option that allows you to trade opposite it's worst systems, claims this is one of the most profitable ways to trade. With hindsight, you can see that leading up to the holiday this year, you could have gone opposite of FMT, with a 40 TP and 35 SL. Perhaps someone with good back data can go back four years and see how this would have worked for the previous Decembers.
