Didn't look promising to start with; went for breakfast, came back - 35 pips done and dusted for the day - nice! I'm sure FMT works better when I'm not looking over it's shoulder!
I would like to note in my calendar when to turn off FMT. Can we agree that FMT should be turned off between approx Dec15 to Feb1 every year? The rest of the year sure looks bright. Cheers
I would like to note in my calendar when to turn off FMT. Can we agree that FMT should be turned off between approx Dec15 to Feb1 every year? The rest of the year sure looks bright. Cheers
Hi Geoff,
20/7 is a strategy I have looked at and traded. According to my figures, it has not had a losing month since my figures started (Aug 10), and this includes trading over the Christmas holiday season.
From 01 Aug 10 until 31 Jan 11 performance was as follows (again according my figures which allow for a spread of 2.5 pips.)
Total Pips: +337
Av Winning Trades: 86.5%
Performance of the strategey this month has not been quite as good, with 3 losing trades so far, however, its still in profit.
A point to note is although the pip total seems small (337) given that the stop loss is half that of regular FMT, you can put double the lot size for the same risk, so its equivilent to winning 674 pips at the regular settings.
Currently I don't trade 20/7 anymore, I have swithced over to 40/10 for my own reasons, however I am a big fan of taking a small profit for a number of reasons:
-High %age of winnig trades makes me most days!
-Consistent monthly gains.
-Low drawdown and risk.
Further, quite often the trade will come in regardless of whether the indicator is "correct" or not, because the general market noise at opening time triggers the TP before the stop.
I guess the disadvantage of this type of strategy is you will never get the fantastic high gains that you can get with the standard settings in a good month, but then you also miss out on the not so fantastic negative months as well....
Hope this is of interest.
Philip.
Hi,
I am currently trading 40 ST , with 50% off at 10 pips, (then BE for rest) 50% off at 28 pips. I was slow on the draw today (taking profit), so did considerably better.
I like the steady consistent wins, low drawdown, and low number of losses. (OK Xmas wasn't so good). And yes, total pips is less, but who cares? I can trade a bigger size, with a clear mind. I trade 2% on shorts, 1% on longs.
Regards, Chris
Hi Geoff,
20/7 is a strategy I have looked at and traded. According to my figures, it has not had a losing month since my figures started (Aug 10), and this includes trading over the Christmas holiday season.
From 01 Aug 10 until 31 Jan 11 performance was as follows (again according my figures which allow for a spread of 2.5 pips.)
Total Pips: +337
Av Winning Trades: 86.5%
Performance of the strategey this month has not been quite as good, with 3 losing trades so far, however, its still in profit.
A point to note is although the pip total seems small (337) given that the stop loss is half that of regular FMT, you can put double the lot size for the same risk, so its equivilent to winning 674 pips at the regular settings.
Currently I don't trade 20/7 anymore, I have swithced over to 40/10 for my own reasons, however I am a big fan of taking a small profit for a number of reasons:
-High %age of winnig trades makes me most days!
-Consistent monthly gains.
-Low drawdown and risk.
Further, quite often the trade will come in regardless of whether the indicator is "correct" or not, because the general market noise at opening time triggers the TP before the stop.
I guess the disadvantage of this type of strategy is you will never get the fantastic high gains that you can get with the standard settings in a good month, but then you also miss out on the not so fantastic negative months as well....
Hope this is of interest.
Philip.
What Platform are you using? I work with Alpari and so far as I know iyou can only close 100 %.
Greetings
Hi Chris
I have edited and taken out the whole paragraph, but the indicators I mentioned are the ones used with FMT, so I don't quite understand your objection
Regards
Lin
That's 196 pips this month so far at 25TP and 40SL. So even if the last two trading days of Feb are -40, then I will still be +116 for the month. Perhaps I should take the rest of the month off?