ForexMorningTrade System

Mixed results on FXDD. I had some accounts take the BE+5 (at 20) and another that didn't BE and lost 40 pips. Same broker, same VPS, minor difference in entyr price. On IBFX and Forex.com got the BE+5.
 
Is anyone else getting continuous messages in the Experts tab that say:
2011.01.14 09:18:01 FxMorningTrade GBPUSD,M15: Not time: 16:15?
Is there anything that will prevent this?
 
wiseambitions said:
Seems like the satan of forex arranged a horrible little spike to knock out everybody who had entered at 06.30 with 40SL who hadn't reset to B/E (me and TKB???), and I have little doubt it will now go back down, especially to annoy me.
Click to expand...

GRRRR!! No BE for me because it only went to about 20 pips positive before reversing and my BE line is 24 pips. Just a bad winter. 😱
 
I just started using Forex Morning Trade. Hope you don't mind a question from a nubie. What numbers did you put in when you made the trade this morning? I thought I put everything in right and I entered it on a spreadsheet, but when I looked at it this morning I had my entry price at 1.58342 and my stop loss price at 1.58742 and my TP at 1.57942. I probably did something wrong but I sure didn't think so. Also is there a log of the trade and the results listed somewhere in Metatrader? I am using a demo account right now and I don't have a clue how to figure how much profit or loss I had for the trade. I would appreciate any help you could provide.
Thank you
 
Icepop said:
I am -42 now since 4/1/11.... May have to re- think if FMT does not pick up-🙁
Click to expand...

From www.forexmorningtrade.com/results

January 2009 + 80 pips
January 2010 +160 pips

At that stage I believe the demos were working on 40TP 40SL.

To achieve +80, it would have just needed 2 more wins than losses
To achieve +160, it would have needed 4 surplus wins

Seeing we're only half way through the month there's still time for the system to turn around and redeem us

Perhaps a little analysis wouldn't go amiss

1) Have we entered the trades according to the rules on every occasion?
I think so, even if the signals have sometimes been weak

2) Has anything else changed?

a) I think we saw a post here the other day about regulation changes in USA and leverage and hedging.
Please excuse my ignorance, but when did these rules become effective?
Do they impact on the big dogs as well as the individual traders like ourselves?
Is it logical that maybe these rules would reduce rather than increase volatility and perhaps affect the ability to reach target pips?
Are there any other factors in the wider economy that might affect the behaviour of the markets and the ability of FMT to exploit the FMT effect at London Open?

b) FMT 40TP has been revised to 35TP. Hardly a major amendment
c) FMT Break even rules have been introduced. Hardly likely to have a very major effect
 
'Live' Accounts:

01-14-2011, FMT 4.2, Short/Break Even, FXSolutions, dealing desk, 1.5834, 1.5834, 0.0
My stats since 11-08-2010: 11 No Trades, 13 Break Evens, 15 Losses, 11 Profits, Total: -232 pips
Pips include slippage, using EA standard settings: 40 SL, 20 BE, 35 TP

01-14-2011, FMT 4.2, Short/Break Even, IBFX, non-dealing desk, 1.58336, 1.58337, -0.1
My stats since 01-04-2010: 3 No Trades, 4 Break Evens, 2 Loss, 0 Profits, Total: -84.1 pips
Pips include slippage, using EA standard settings: 40 SL, 20 BE, 35 TP



Demo Accounts:

01-14-2011, FMT 4.2, 5: Short/Break Even & 1: Short/Loss at non-dealing desk brokers:
PFG Best, 1.58336, 1.58336, 0.0
FOREX.com, 1.58336, 1.58337, -0.1
MB Trading, 1.58342, 1.58341, +0.1
FXCM, 1.58329, 1.58329, 0.0
Alpari(US), 1.58339, 1.58339, 0.0
FXDD, 1.58331, 1.58735, -40.4



Modified hammy66's system:
01-14-2010, FMt 4.2 EA, set 5 separate GU M15 Charts each separated by 30 minutes using a different magic number.
Using PFG Best Demo Account, Settings: TP=30, SL=44, BE=20, BE+5 pips, UK time zone.

6:00 start, sell trade, BE+5 pips.
6:30 start, sell trade, BE+5 pips.
7:00 start, no trade, 0 pips.
7:30 start, no trade, 0 pips.
8:00 start, sell trade, BE+5 pips.

for today +15 pips ... 🙂

My stats since 01-11-2010: Total: +108.5 pips


This is amazing! In 4 days, I'm up +108.5 pips! While everybody else made nothing!! Except Mark, who made +36 on Monday, using the standard settings with no manual trading.

I'm totaling hammy66's trades since he started his system on a live account, on 01-07-2011. He's up +131 pips! Congratulations hammy66!

Our systems were tested during a flat period. I believe they would have done great during the holiday season.
I will have to do some back testing on my system.

Had I started Monday, based on hammy66's results, I would have had another extra +30 pips.
It's too bad I'm using demo money, because I made nothing just like everybody else.
If I pass Mark's profit total with this system, I'm going 'Live' . . . His total right now is +259 pips since Aug 2010.
 
Last edited:
RedGuerrilla,

Thanks for the congrats !
I see you are doing very well with your starting times as well, hey you can't make any money on demo, GO LIVE !!

I did not trade live during the holidays, but watched it on a demo account, and actually it lost money between Dec. 15 to Dec.31. This year FMT did terrible during last half of December, something to remember for next Christmas !!

good luck with your FMT starting times !! but go live !!
 
RedGuerrilla said:
'Live' Accounts:

01-14-2011, FMT 4.2, Short/Break Even, FXSolutions, dealing desk, 1.5834, 1.5834, 0.0
My stats since 11-08-2010: 11 No Trades, 13 Break Evens, 15 Losses, 11 Profits, Total: -232 pips
Pips include slippage, using EA standard settings: 40 SL, 20 BE, 35 TP

01-14-2011, FMT 4.2, Short/Break Even, IBFX, non-dealing desk, 1.58336, 1.58337, -0.1
My stats since 01-04-2010: 3 No Trades, 4 Break Evens, 2 Loss, 0 Profits, Total: -84.1 pips
Pips include slippage, using EA standard settings: 40 SL, 20 BE, 35 TP



Demo Accounts:

01-14-2011, FMT 4.2, 5: Short/Break Even & 1: Short/Loss at non-dealing desk brokers:
PFG Best, 1.58336, 1.58336, 0.0
FOREX.com, 1.58336, 1.58337, -0.1
MB Trading, 1.58342, 1.58341, +0.1
FXCM, 1.58329, 1.58329, 0.0
Alpari(US), 1.58339, 1.58339, 0.0
FXDD, 1.58331, 1.58735, -40.4



Modified hammy66's system:
01-14-2010, FMt 4.2 EA, set 5 separate GU M15 Charts each separated by 30 minutes using a different magic number.
Using PFG Best Demo Account, Settings: TP=30, SL=44, BE=20, BE+5 pips, UK time zone.

6:00 start, sell trade, BE+5 pips.
6:30 start, sell trade, BE+5 pips.
7:00 start, no trade, 0 pips.
7:30 start, no trade, 0 pips.
8:00 start, sell trade, BE+5 pips.

for today +15 pips ... 🙂

My stats since 01-11-2010: Total: +108.5 pips


This is amazing! In 4 days, I'm up +108.5 pips! While everybody else made nothing!! Except Mark, who made +36 on Monday, using the standard settings with no manual trading.

I'm totaling hammy66's trades since he started his system on a live account, on 01-07-2011. He's up +131 pips! Congratulations hammy66!

Our systems were tested during a flat period. I believe they would have done great during the holiday season.
I will have to do some back testing on my system.

Had I started Monday, based on hammy66's results, I would have had another extra +30 pips.
It's too bad I'm using demo money, because I made nothing just like everybody else.
If I pass Mark's profit total with this system, I'm going 'Live' . . . His total right now is +259 pips since Aug 2010.
Click to expand...

Just for fun, check out my new testing system using FMT and using the turbo features of moving BE 2 times. I just started Plane Rider on the 6th and I am already up by 107 pips.
Bull Rider has been running since Dec. 30th and has 114 pips.
Now in all fairness, it's not quite "apples to apples" because I am opening more trades in a small window during the pre-London open. Also, SL is up to 100 pips on the GBPUSD and 115 on the EURUSD pairs. So, to leverage the same risk, you would actually be getting less in dollar amount at the end. However, in back testing and forward testing, you may get one bad trade every 4-6 months of trading. I'm expecting between 200-300 pips a month. So far, the first week ended in about 100 pips so maybe up to 400 pips a month. We'll see. 🙂
 
tkbieber said:
Just for fun, check out my new testing system using FMT and using the turbo features of moving BE 2 times. I just started Plane Rider on the 6th and I am already up by 107 pips.
Bull Rider has been running since Dec. 30th and has 114 pips.
Now in all fairness, it's not quite "apples to apples" because I am opening more trades in a small window during the pre-London open. Also, SL is up to 100 pips on the GBPUSD and 115 on the EURUSD pairs. So, to leverage the same risk, you would actually be getting less in dollar amount at the end. However, in back testing and forward testing, you may get one bad trade every 4-6 months of trading. I'm expecting between 200-300 pips a month. So far, the first week ended in about 100 pips so maybe up to 400 pips a month. We'll see. 🙂
Click to expand...
I am using your FMT Extended. Could you please tell me what your current settings are?

Thanks,

Michael
 
tkbieber said:
Just for fun, check out my new testing system using FMT and using the turbo features of moving BE 2 times. I just started Plane Rider on the 6th and I am already up by 107 pips.
Bull Rider has been running since Dec. 30th and has 114 pips.
Now in all fairness, it's not quite "apples to apples" because I am opening more trades in a small window during the pre-London open. Also, SL is up to 100 pips on the GBPUSD and 115 on the EURUSD pairs. So, to leverage the same risk, you would actually be getting less in dollar amount at the end. However, in back testing and forward testing, you may get one bad trade every 4-6 months of trading. I'm expecting between 200-300 pips a month. So far, the first week ended in about 100 pips so maybe up to 400 pips a month. We'll see. 🙂
Click to expand...

Sounds good but compared with 40SL, for the same % risk I'd only be able to run about 1/3 of the lot stake, and surely that would make your 300 pips a month equivalent to 100 as things now are. (Remembering the average of Mark's results for 2010 was about 150 anyway)
 
michaelhryu said:
I am using your FMT Extended. Could you please tell me what your current settings are?

Thanks,

Michael
Click to expand...

Trades from 1:00 - 1:45 a.m eastern
TP 35
SL 44
BE +5 pips @ 24

(This is all personal preference as I have seen many variants. Some don't want the BE feature or change to + whatever @ a different target.)

I would say SL somewhere near 40, TP somewhere from 30 - 37
BE somewhere from 20 - 24 and add at least a couple of pips to make you feel better. 😆
 
wiseambitions said:
Sounds good but compared with 40SL, for the same % risk I'd only be able to run about 1/3 of the lot stake, and surely that would make your 300 pips a month equivalent to 100 as things now are. (Remembering the average of Mark's results for 2010 was about 150 anyway)
Click to expand...

That's correct and I understand. However, some people (like me. 😆) like higher winning percentages.

I will experiment further and also probably use regular strategy on one broker and run the other strategy on another broker. I'll compare after 12 months and see which turn out more favorable.

BTW, I have really enjoyed every ones comments. We are all in this together and we can learn from others. Have a great weekend and hope we have better results next week. 🙂
 
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