wiseambitions
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wow, spectacular drop just then. out for 28tp, and happy to stick to the rules I've engraved in stone here
Good luck guys
Good luck guys
deserteagle
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I 
FMT. +43
FMT. +43Just looking at MT4 again, it will be interesting to see if both indicators cross their baseline in tandem and FMT shows a buy (just looking at it manually that is) as has happened on other ocassions, I won't be around to trade it, but an interesting consideration if I was and was looking for a manual trade.
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!
your are correct. FMT takes the emotion out of trading. Emotion will ruin a good system.
Jashfx
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I would say skip the first week of Jan as well -- I was -78pips for that week. (Alpari UK). May as well give yourself an extended holiday and take mind off FMT.
JULY/AUG -- (although I would not shut down FMT) can also be tricky months to trade, however none of us have seen FMT in action over this period (only in backtesting) so cannot judge but although I am comfortable with Standard settings of 35 TP, 20 BE and 40 SL, it may be a good idea to use:
Wise's TP 28 (or reduce to 30 TP) over these traditionally 2 choppy months.
Jashfx
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OOps -- thought you wrote Jan 1st but I misread it and see you said Feb 1st.
Yeah -- We start anywhere from Middle Jan to Begining Feb.
chrisheath
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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
-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
What Platform are you using? I work with Alpari and so far as I know iyou can only close 100 %.
Greetings
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
-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 Philip
I have started trading 40/10 for the same reasons as you. I am trading with a 5% risk.
Can you please tell me in your back testing what has been the most consecutive losses?
I did a quick manual test for the past 4 months last night around 2am my time, and I saw two losses in a row. It's possible that this is not correct considering the time I did this. But I could live with a draw down of $160 which I will recoup quickly.
Nice easy stress free way of trading.
Regards
Lin
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chrisheath
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traderlin, could you please edit your post , and take out the names of the indicators? Really in fairness to Mark.
Thanks, Chris
Thanks, Chris
chrisheath
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Hi Pavil, I'm in the UK, so I spread bet. I use the GekkoSpreads platform. I do it manually at the moment.
The way I take 1/2 off, is by placing another order in the opposite direction, for 1/2 the stake.
On Alpari, if you have an open order, right click on the order, to open the options list. Click on 'Close Order' to open the order ticket, (with the close order button).
If you alter the 'Lots' to 1/2 its existing size, then 'Close Order', it should take off 1/2 the order.
Good luck, Chris
chrisheath
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Traderlin, thanks. Its just that there are people on the forum, who haven't paid for FMT, and could figure out how FMT works, which is a bit unfair to Mark.
Regards, Chris
