ForexMorningTrade System

[jabu99]

Hi Guys, I've just started investigating FMT and came across this forum. Quick question if someone doesn't mind answering; I'm getting the impression that some of you are tweaking FMT to TP at 28 pips? Does this appear to be the optimum setting so far?

 

[billcurry]

Hi Guys, I've just started investigating FMT and came across this forum. Quick question if someone doesn't mind answering; I'm getting the impression that some of you are tweaking FMT to TP at 28 pips? Does this appear to be the optimum setting so far?

That may have been true for January when the market was irregular, but I'm not sure it's still true for February. I'd probably use +35 pips as my TP for FMT. Personally I use TMT live with these settings:

SL at -50 pips
BE1+0 pips triggered at +20 pips
BE2+15 pips triggered at +30 pips
TP1 at +35 pips with 75% of position
TP2 at +45 pips with 25% of position

Regardless, I'd suggest getting Dukascopy 99% modeling quality historical data and doing your own backtests and using whatever works for you.

 

[jabu99]

That may have been true for January when the market was irregular, but I'm not sure it's still true for February. I'd probably use +35 pips as my TP for FMT. Personally I use TMT live with these settings:

Thanks for that. I may give TMT a go instead then. I presume it is an EA that can be downloaded from Mark's site?

 

[billcurry]

Thanks for that. I may give TMT a go instead then. I presume it is an EA that can be downloaded from Mark's site?

Yup, here it is. It costs extra and you need FMT first to buy it, but it's worth it if you like having more control over BE/TP's. It also seems to have kept me out of trouble when FMT has traded and lost.

 

[jabu99]

Yup, here it is. It costs extra and you need FMT first to buy it, but it's worth it if you like having more control over BE/TP's. It also seems to have kept me out of trouble when FMT has traded and lost.

Yep, found it thanks. The number of parameters is daunting
Just bought FMT so think I'll hold off for a month on TMT and see how the comparison pans out in Feb.

 

[Deatil]

I trade live with Alpari UK, today I was saved by the 20BE.

Actually if you are still using your 65 pips stop, and given that today's Long was in the 1.6077-78 entry area and the deepest pullback was to 1.6031 .

Which was about 48 pips of heat, your BE did you more harm then good since right after the drop to 1.6031 the GBP/USD raced up hitting your 43 pip taking profit you said you use at 1.6121 , just below today's high at 1.6123. That was a close one

 

[Deatil]

Thanks for the interesting post Deatil.

You mentioned going after stops, would you be so kind as to give me your opinion on the stealth settings for the FMT EA as I have switched from manual to EA this week.

In the PDF regarding stealth mode it says "if you'll set BrokerProfitTargetPips = 50 and HidenProfitTargetPips=40, the EA will place Profit Target to 50 pips (broker will see that), but the trade will be closed when it reaches the 40 pips."

I would have thought it would be better to set the BrokerProfitTargetPips to say 30 because if they are hunting stops and going for 50 the HPTP of 40 would be hit anyway.

Once there is an establish pattern in anyone’s trading style and log, Which constantly shows the same 1) start time, 2) the same profit and 3) the same stop lose.

No stealth setting in any EA is going to do anyone any good. The brokers internal software will pick up on your pattern or ,anyone trading pattern if it shows an establish pattern, and let’s not forget Brokers too buy just about all half way decent EA just to know what the retail trader is up too. Like I said you need to say one step ahead of them . A deeper subject I am afraid for another time.

 

[billcurry]

Actually if you are still using your 65 pips stop, and given that today's Long was in the 1.6077-78 entry area and the deepest pullback was to 1.6031 .

Which was about 48 pips of heat, your BE did you more harm then good since right after the drop to 1.6031 the GBP/USD raced up hitting your 43 pip taking profit you said you use at 1.6121 , just below today's high at 1.6123. That was a close one

The price could have easily kept going and hit the 65 pip SL. TMT/FMT clearly made the wrong call to go long today, because a short position would've been an easy win. Once the price has gone that far astray (-48 pip retracement) there is no telling where it could go from there. The BE protected us from gambling with our money.

 

[billcurry]

No stealth setting in any EA is going to do anyone any good. The brokers internal software will pick up on your pattern or ,anyone trading pattern if it shows an establish pattern, and let’s not forget Brokers too buy just about all half way decent EA just to know what the retail trader is up too. Like I said you need to say one step ahead of them . A deeper subject I am afraid for another time.

I really doubt this. I can see brokers hunting SL's, but a broker actively hunting down a few trader's hidden SL's based on a few EA's sounds a bit far-fetched, not to mention the kind of computing power that would be required to predict invisible SL's. Do you have any sources to back that claim up?

 

[RedGuerrilla]

Stats for 02-09-2011



'Live' Accounts:

FMT 4.2, FXSolutions, dealing desk, Long/Loss, 1.6081, 1.6041, -40.0 pips
My stats since 11-08-2010: 14 No Trades, 17 Break Evens, 19 Losses, 17 Profits, Total: -186.0 pips
Pips include slippage, using EA standard settings: 40 SL, 20 BE, 35 TP

FMT 4.2, IBFX, non-dealing desk, Long/Loss, 1.60800, 1.660381, -41.9 pips
My stats since 01-04-2010: 7 No Trades, 6 Break Evens, 7 Loss, 7 Profits, Total: -46.0 pips
Pips include slippage, using EA standard settings: 40 SL, 20 BE, 35 TP



Demo Accounts:

FMT 4.2, non-dealing desk brokers, 4:Long/Loss, 1:Long/Break Even
PFG Best, 1.60805, 1.60389, -41.6
FOREX.com, 1.60816, 1.60414, -40.2
FXCM, 1.60795, 1.60795, 0.0
Alpari(US), 1.60808, 1.60399, -40.9
FXDD, 1.60809, 1.60409, -40.0



Testing new tweaked settings, based on back testing. For more details, see Post #5659, page 708:

FMT 4.2 EA, GBPUSD M15 Chart, UK time zone.
Using PFG Best Demo Account, Settings: SL=40, TP=30, BE=20, BE+5 pips
6:15 start, buy trade, 1.60748, 1.60798, hit BE= +5.0 pips ...
My stats since 01-20-2011: Total: +57.3 pips



Testing other systems, subject to back testing.
Lost my back testing system, and I don't have time right now to get it back.

FMT 4.2 EA, GBPUSD M15 Chart, UK time zone.
Using PFG Best Demo Account, Settings: SL=40, TP=30, BE=20, BE+5 pips
13:15 start, Sell trade, 1.60543, 1.609542, hit TP= -41.1 pips ... :-(
My stats since 02-01-2011: Total: -103.5 pips

FMT 4.2 EA, EURUSD M15 Chart, UK time zone.
Using PFG Best Demo Account, Settings: SL=40, TP=30, BE=20, BE+5 pips
13:15 start, buy trade, 1.36480, 1.36777, hit TP= +29.7 pips ...
My stats since 02-01-2011: Total: +90.7 pips

FMT 4.2 EA, EURUSD/USDCHF M15 Chart, UK time zone.
Using PFG Best Demo Account, Settings: SL=20, TP=7, BE=0
23:00 start, EURUSD, buy strade, 1.37262, 1.37063, hit SL= -19.9 pips
23:00 start, USDCHF, sell trade, 0.95774, 095978, hit SL= -21.25 pips
Total for both trades: +6.8 pips ... :-(
My stats since 02-03-2011: Total: -23.96 pips

 

[moidart]

I trade live with Alpari UK, today I was saved by the 20BE.

Hi DE
Thanks for the stats you posted earlier. Was wondering if you had any stats on 65SL

with BE switched off.

Regards

 

[Flourish]

Hi Guys, I've just started investigating FMT and came across this forum. Quick question if someone doesn't mind answering; I'm getting the impression that some of you are tweaking FMT to TP at 28 pips? Does this appear to be the optimum setting so far?

jabu99,

You can follow the TMT settings by Mark Fric and forward test on a demo account first.

 

[wiseambitions]

Thursday 06.30 GMT short trade opened on GU with our compulsory signals. Prior to 06.29 it looked like no trade. There is important B of E news today, so hope we're lucky.

Maybe it is of some comfort to know that FMT is right more often on short calls!

 

[Icepop]

Out with +25 this morning giving me +85 for the month so far. (40SL/ 25TP). Very happy with my results!

 

[Deatil]

The price could have easily kept going and hit the 65 pip SL. TMT/FMT clearly made the wrong call to go long today, because a short position would've been an easy win. Once the price has gone that far astray (-48 pip retracement) there is no telling where it could go from there. The BE protected us from gambling with our money.

The price could have done anything, and this is not the first time FMT or any other EA has made the wrong call. To say the short would have "been an easy win' is an "after the fact" event.

Also back testing has shown that a BE has no advantage any greater then not using one at all its a coin flip.

As for a "gambling with our money"are you not the same billcurry on indovest running your EA with a 30% max leverage?

If you are that is what a true gambling with your money is really defined as.

 

[Deatil]

I really doubt this. I can see brokers hunting SL's, but a broker actively hunting down a few trader's hidden SL's based on a few EA's sounds a bit far-fetched, not to mention the kind of computing power that would be required to predict invisible SL's. Do you have any sources to back that claim up?

My statement does not refer to just FMT, and your statement is made with no basis, I on the other hand I have worked this business from both sides, I know all to well how it works.

You must be really new to forex for you to think that a broker can not tell were stops are at or that they no do have the necessary "computer power" .

As to my sources, YES plenty there are many member here and and other place were I vist under different names. That have trade live with me, 2) I have given MY OWN money for them to learn with , so please go run and play over leverage forex trader with someone who cares.

I am talking to the same person who was so surprise by the rate hike from China, when they were projected the hike some time in Feb, since Dec of last year.

I guess you would have known that if you would have had any paid news feed. And not been so surprise.

http://indo-investasi.com/showthrea...rnal-(-1-000-to-100-000)?highlight=bill+curry.

What a joke

 

[wiseambitions]

TP 28, making potentially +828 on settings of 28TP/40SL in the last 100 trades (arising since Mid August, including Christmas), with 71% winning trades
According to my analysis, if this system had been traded since January 2010, then in 200 sessions these settings would have yielded 1860 pips
Also on a rolling 12 months basis, 11 February 2010 to 10 February 2011 would have yielded 1600 pips

We still need some restoration of normal conditions, as the last 50 trades, including Christmas, for anyone who suffered them was negative 96 pips in these settings. But about 200 pips loss were avoided for having taken a couple weeks off

 

[wiseambitions]

Also back testing has shown that a BE has no advantage any greater then not using one at all its a coin flip.

I hope to share some information on this based on my own data within a day or two. Specifically to show the difference not only on an income basis but on a compounded basis for having stops with and without break even resets.

And yes, I agree with what has been said about 'brokers knowing our stops'. Interesting to hear from someone who may have worked the other side of the fence too. On the basis most amateurs lose when trading forex, I am of the opinion that many of the bigger brokers, concerning the main currency pairs, would would operate like a casino and probably do ok for themselves by playing you at your own game, not putting the trade into the big wide world's systems. I have noticed a 50 pip difference to 5 points decimal at times this week (out of hours) between 3 brokers and I think I know why!

 

[deserteagle]

I have been fascinated by your findings, many thanks for your research on potential 2010 returns from various settings.

Obviously we have to be cautious due to imperfect modelling quality

Set 40/40 has surprised me also for the good results along 2010.
I'm on the route to have 99% of model quality soon.

 

[Jashfx]

February proving to be a good month so far -- A while yet before month end but +135pips from start of month.