ForexMorningTrade System

[wiseambitions]

Out for 15 today, I know I'm breaking my own rules but I have a big day at work and couldn't cope with a loss, I nearly didnt trade. It's nice to have a bit of a win to start the month
good luck to all

 

[OWL75]

Out at +8.3 & +5.

Oh, well, live to trade another day.

 

[chrisheath]

GM all.
WiseAmbitons - imagine if you were trading with TP 10 pips, which is a successful strategy - and you made 15. OK - you didn't stick to rules, but there is a lot of flexibility in FMT. I'm out at (50%) +10 pips, with the rest at BE. Better than a loss, anyday!

There seems to be a lot of red reports out today (Forex Factory), Bernanke's speaking, inflation and manufacturing GBP etc. This could explain the general lack of movement.

Good luck all!

Regards, Chris

 

[JOHNCO]

Not looking too good. Sticking with the rules.

 

[Swaledale Trader]

GM all.
WiseAmbitons - imagine if you were trading with TP 10 pips, which is a successful strategy - and you made 15. OK - you didn't stick to rules, but there is a lot of flexibility in FMT. I'm out at (50%) +10 pips, with the rest at BE. Better than a loss, anyday!

There seems to be a lot of red reports out today (Forex Factory), Bernanke's speaking, inflation and manufacturing GBP etc. This could explain the general lack of movement.

Good luck all!

Regards, Chris

I am interested in the success of the TP 10 pips strategy. I recall some analysis of this but cannot locate it. Anybody help please?

 

[Icepop]

Yessssssssssssssssssssss +25 -

 

[Lady Forex]

Out with 12 pips and happy.

The 10 pip method is an easy method. You usually hit tp fast. There is some stats posted previously by Wiseambitions. Do a search for his post.

 

[Ezmai]

Beautiful. Such patience! Have a good day all.

Ezmai

 

[Ezmai]

Yessssssssssssssssssssss +25 -

LOL :clap:

 

[Swaledale Trader]

Out with 12 pips and happy.

The 10 pip method is an easy method. You usually hit tp fast. There is some stats posted previously by Wiseambitions. Do a search for his post.

Thanks Lady Forex ... Wiseambitions' post is 17th Feb at 5.24am

 

[PipZombie]

Not looking too good. Sticking with the rules.

I hope you stuck to the rules and got your profit like I did. The biggest enemy to this strategy is human intervention "greed". Let the system do it's thing, win or lose. +35 pips for me AGAIN today. LOL

 

[wiseambitions]

Out with 12 pips and happy.

The 10 pip method is an easy method. You usually hit tp fast. There is some stats posted previously by Wiseambitions. Do a search for his post.

Results of 10 TP method, with 40SL
Out of the last 100 trades + 750
Out of the last 200 trades + 1300

Compare this with 40/40 the original FMT recommendation
Last 100 trades +800
Last 200 trades +2000

New FMT 35/40+BE@20
Last 100 trades +785
Last 200 trades + 1760

I have another setting I'm not ready to say much about, yet, with 40SL which in my calculations has yielded +976 in the last 100 trades, including the Christmas period, and +1788 in 200 trades

Desert Eagle's aggressive settings, which require 65SL, for 43TP and BE @ 20
gave + 917 in the last 100 trades and +1899 in the last 200

The last 200 trades, in my analysis took place between 29 February 2010 and today
The last 100 trades were since 3rd September, so to all intents and purposes 12 and 6 full months.

E&OE

 

[JOHNCO]

Slam Dunk. +49 pips. and +38.5 pips. What a ride.

 

[ihelfman]

I hope you stuck to the rules and got your profit like I did. The biggest enemy to this strategy is human intervention "greed". Let the system do it's thing, win or lose. +35 pips for me AGAIN today. LOL

You are so right. Last time I bail out early before a news alert!

 

[Tenapenny]

You are so right. Last time I bail out early before a news alert!

Just woke up to a nice profit. That's why I set and forget using the ea. Less stress!

 

[phn73]

I am interested in the success of the TP 10 pips strategy. I recall some analysis of this but cannot locate it. Anybody help please?

Hello Swaledale Trader,

If you have a look at post #6495 (p.812 of the journal) you will find some previous analysis provided about this strategy.

In addition to this here is some updated analysis taking into account Feb 2011 results for 40/10:

Total backtest period: 01 Aug 2010 - 28 February 2011.
Total Pips: 700
Av Pips / Month: 100
% Successful Trades: 91.7%

I trade this system exclusively now, as I like the simplicity, constant good returns, and not having to face a loss that often!

Hope this info is of use,

Regards,

Philip.

 

[Kylefx]

I have oversleep -.-

 

[JohnnyBme]

...Also, I opened two charts, starting at 6:15 and 6:30 and everything opened fine, but then they reset their SL/TP as the same. I changed the magic numbers to be different in each chart. Is there something I am missing?

Thanks

I've also been unsuccessful trying this. I think the reason I'm having a problem is that I trade in the US on Alpari-US, and hedging isn't allowed. Even though what we're trying to do isn't hedging, the system apparently considers two trades on the same account to be a potential hedge. Not sure, just my theory.

 

[deserteagle]

Good morning all, I'm just check my ea and see +43 in the balance .... no stress today

 

[catfish911]

Got in a Buy at 16275, out at +37 when I looked half an hour later... This week's trading (so far) sure beats last week when one trade took til 18:00 to hit +37 TP! Hey, what happened to all those naysaying posters who said FMT is dead, cos of the China market/oil crisis/earthquakes/etc etc?