ForexMorningTrade System

wiseambitions said:
one of my indicators (the M) has gone above the line while the other one is deeply under. has given me a no trade signal. I think brokers will vary and today is going to be another one of those where some go short others stay on the sidelines....... (and the others are still away for the holidays!)
Click to expand...

With IGIndex I had CCI heavily negative at -216 & still heading down, Momentum at -0.03 (which is only just signalling sell) and heading up so I went short although my gut feel is that no trade would be better or perhaps even go long anticipating a rebound. I might add a rule that if either CCI or M is close to the line and heading in the 'wrong' direction then do not trade.
 
Swaledale Trader said:
With IGIndex I had CCI heavily negative at -216 & still heading down, Momentum at -0.03 (which is only just signalling sell) and heading up so I went short although my gut feel is that no trade would be better or perhaps even go long anticipating a rebound. I might add a rule that if either CCI or M is close to the line and heading in the 'wrong' direction then do not trade.
Click to expand...

I agonised over it and came to the decision to stay away because of the conflict in those signals. (Please just remember this is a public website and therefore the FMT author and many of the members obviously prefer we don't specify the indicator settings to an extent that people who haven't paid are able to gain too much free information.) With it being the first day back for the big banks it may be a bit volatile today. I notice Mark got a win yesterday, while most of us had no trades even if we wanted to give it a try.
 
wiseambitions said:
I agonised over it and came to the decision to stay away. (Please just remember this is a public website and therefore the FMT author and many of the members obviously prefer we don't specify the indicator settings to an extent that people who haven't paid are able to gain too much free information.) With it being the first day back for the big banks it may be a bit volatile today. I notice Mark got a win yesterday, while most of us had no trades even if we wanted to give it a try.
Click to expand...

Ooops - I had not realised this is a public site so take your point. Fortunately I have not given much away as you have to do a bit of work in order to use FMT on IG as the indicators are not the same and further, similar ones are not calculated in the same way. I have found that FMT seems to work with AUD/USD. Yesterday my signals were strongly long for £ and short for AUD so had a profitable day with both pairs.
 
Short,
Smart Trade FX.
That spike up scared me, lets hope it trickles back down and brings a good start to a prosperous new year.

Good Luck to all in! This'll have to be a set, forget, and hope in the morning trade for me lol.

-JD
 
Swaledale Trader said:
Ooops - I had not realised this is a public site so take your point. Fortunately I have not given much away as you have to do a bit of work in order to use FMT on IG as the indicators are not the same and further, similar ones are not calculated in the same way. I have found that FMT seems to work with AUD/USD. Yesterday my signals were strongly long for £ and short for AUD so had a profitable day with both pairs.
Click to expand...

:D
there has been frequent discussion on here about using the system at particular times on other pairs, but it has gone quiet. The consensus seems to be to stick to GBPUSD with this system. Doubtless there will be times when the principles hold good for many other markets, but each to their own.
 
Hi,
Just bought FMT. On ther sales page it says 0800 gmt. On the instructions 0630 uk. I believe gmt and uk are the same so which time is correct ? I took the short trade that started 0630 uk time although momentum was 50/50. Am I on the right trade ? Also, data window is not current so relied on the numbers on the chart, anyone know how to fix ? Thanks in advance.
 
6.30 uk is correct; you can confirm this from the postings on this site. Short was correct for me today; although I am not hopeful I am sticking with the trade. I don't use MT4 so cannot help with this.
 
A definite losing day, there was no chance of anyone getting this trade right unless they were an diehard contrarian, howeveer quite a few of us had conflicting signals at 6 30. Even the earlybirds who start at 5.30 would have got it wrong.
Hope for better luck SOON !!!!!
 
My first trade -40. Not a good start. Bought this on the back of great reviews on forexpeacearmy. Hope they are correct. Noticed some talk of other pairs, Marc says no and no to other pairs ? What is this turbo ?
 
davidmccann said:
My first trade -40. Not a good start. Bought this on the back of great reviews on forexpeacearmy. Hope they are correct. Noticed some talk of other pairs, Marc says no and no to other pairs ? What is this turbo ?
Click to expand...

Unfortunately you win some, lose some. The system works but may encounter quite lengthy losing streaks but the same applies to wins!
 
Including the poor results of December (which we anticipated and which stopped a lot of us from partaking for 2 or 3 weeks), the win rate of FMT at 6.30 starts, at 35TP (but without resetting to break even) is 64 in the last 100 trades.

Prior to mid December it was running fairly consistently around 72% and was good enough to give the annual gain of around 1750 pips as shown in the main promotional website.

Hopefully this positive information will appease those new members who wonder whether the system really does work.
(These numbers are from my own records, and individual experience will vary due to differences between brokers)
 
I took the short for another loss. I think those that observed that the day was probably too volatile to trade sensibly were very wise.
With money management, and a bit more predictably in the markets, hopefully things will improve!

The system is sound, but agree that patience is needed! If it is any consolation, one of my other systems was also indicating a strong short, as were basics.
Tomorrow is another day!
 
davidmccann said:
My first trade -40. Not a good start. Bought this on the back of great reviews on forexpeacearmy. Hope they are correct. Noticed some talk of other pairs, Marc says no and no to other pairs ? What is this turbo ?
Click to expand...

1 trade means very little compared to the bigger picture. It's bound to be a disappointment when your first trade goes the wrong way, but you have to be able to accept that not every one is going to be a winner.
If you had started yesterday, your first trade would have been a winner. :cheesy:
 
I stayed out today because we have big news later - FOMC meeting minutes. Not sure if we get a rangy day every time this is announced, but I have found that FOMC days and NFP days the markets tends to range. Also one of the indicators was a little weak... some brokers may have got a mixed signal this morning?

I was reading elsewhere on this forum that it's worth monitoring the FTSE open for clues as to the direction of cable at the time of the open. Certainly today there was a huge gap up, which coinceded with a big spike in GBP/USD. The FTSE was closed yesterday, but the DAX wasn't - and it had gapped up yesterday, which suggested the FTSE would do the same today.

Never used the FTSE as a proxy before but today there did seem to be a reaction!
 
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