ForexMorningTrade System

[Jashfx]

Interesting what PipZombie has to say. I am - 60 for this month already so have gone back to paper trading for the moment. The problem is the markets are not going to settle down in the immediate future.

February produced the best results Ive seen since purchasing FMT. I personally Had a return of 20% (trading at risk of 2.5%) 10 winners and 2 losers. This is a strategy to trade everyday of every month if the signal is there to trade. So far we are only 1 loss down this month trading at the standard settings with a few NT and BE trades thrown into mix. Month of March is not finished yet. FMT was actually correct again today its just that it retraced to take us out at BE. (for those that do reset). Those that dont reset have made money).

There should be no reason to put FMT on hold.

 

[wiseambitions]

With all this talk of judging when FMT might no longer work, IMHO I think the people most likely to lose the faith are those who deviate a long way from the recommended settings. I have never ceased to be amazed how good will be your results from sticking to the simple original recommendations (40tp/40sl without even worrying about resetting the BE). I submit it is quite possible some of us could back test, fit to a curve, and decide on some new exit settings which soon cease to work, whereas the dear old 40/40 will carry on giving a reliable return. And none of this would be the fault of the starting signals given out by FMT.

Results of the last 100 trades (approximately 6 months)

New FMT Settings +600
Original FMT +720
10/40 +700
28/40 +556
I also have another simple strategy which would have yielded +944. But I'll wait a while before elaborating.

Have a great weekend guys

 

[PipZombie]

Out at +37 today on Sell at 6:15 Alpari UK. I too am disappointed we haven't seen a good winning run of trades (eg 2 or 3 weeks of mostly wins) on FMT so far this year, but actually it was the same in 2009 and 2010. In the past it only got going after April/May time. Trouble is you never know when a winning run is going to start, so you just have to keep trading every day according to the rules. I'm sure everyone has backtested over years and can see if you keep the faith even through the volatile times, FMT does return a profit. Good luck next week, FMT'ers...

I agree 100%. This is currently a sound trading methodology. I have said this many times but I will say it again for the new FMT traders. I don't think you can pass any judgement on performance until you have at least 100 live trades with this system. I have only taken live 75 trades with this system live since 9/14/10. Included in this live trade data are computer problems, interent failure, human intervention (which i no longer do other than not trading the system from 12/14/10 to 1/17/11 because of historic low liquidity) and I have the following results per the MT4 platform detailed summary. Total profit trades 69.33%, In this total are 9 consecutive wins and 3 consecutive losses (see note above regarding not trading in dec and early jan. Late dec and early jan was not good for the FMT and I avoided it by not trading during that time). Average consecutive wins = 3 and average consecutive loses = 1. The account is up currently 63% and has been as high as 76%. This is a small live mini account that I tested FMT on since the beginning when I started live with it since 9/14/10. I risk 4% per trade and compound.

 

[kgk]

Does anyone know whether I need to reset the start time parameter for next week due to day light savings time kicking in on Sunday? I currently have it at recommended settings (6:30 AM). I am with lBFX.

Thanks.

Kgk

 

[hammy66]

FMT for me this morning :

6:15 start, sell trade hit TP on both brokers, +30, +30 pips.
6:30 start, sell trade hit BE on both brokers, 0 pips

total today, +60 pips..

 

[devaux]

Does anyone know whether I need to reset the start time parameter for next week due to day light savings time kicking in on Sunday? I currently have it at recommended settings (6:30 AM). I am with lBFX.

Thanks.

Kgk

Same doubt as kgk,my broker Activtrades.Somebody help us rookies,please!!!

 

[uberpips]

Same doubt as kgk,my broker Activtrades.Somebody help us rookies,please!!!

Since we 'spring ahead' and London has no DST, you will have to subtract an hour from your current entry time. More sleep for me!

 

[Xbourse]

Same doubt as kgk,my broker Activtrades.Somebody help us rookies,please!!!

in the manual =>

Please note that for some brokers there is a difference between summer and winter time

Summer time

ActivTrades - 07:30

Winter time

ActivTrades - 07:30

So it's the same time for you I think devaux

 

[devaux]

in the manual =>

Please note that for some brokers there is a difference between summer and winter time

Summer time

ActivTrades - 07:30

Winter time

ActivTrades - 07:30

So it's the same time for you I think devaux

Thanks.

 

[deserteagle]

Hi, I have started a new comparison sheet, check the attached file.

Have a nice weekend

 

[Xbourse]

hey, Thx for the file ! Interesting

So the best settings are....:

NEW FMT and DesertEagle 1 WIth 65SL / 43 Tp ? =) ?


edit: I think i can't see the all file with libreoffice

 

[madpommie]

Hi Guys..

Loving the FXMT... wicked strategy!!!

I'm in London so I am assuming that this coming week I will be trading the same time. Is this correct?

Cheers
Dave

 

[madpommie]

Hi, I have started a new comparison sheet, check the attached file.

Have a nice weekend

Hi Desert Eagle..

What is the desert eagle you refer to in your spreadsheet... Thanks for sharing.

Cheers
Dave :cheesy:

 

[uberpips]

Hi, I have started a new comparison sheet, check the attached file.

Have a nice weekend

Why is Friday 35 for New FMT when it should be BE?

 

[chrisheath]

Hi Guys..

Loving the FXMT... wicked strategy!!!

I'm in London so I am assuming that this coming week I will be trading the same time. Is this correct?

Cheers
Dave

Hi madpommie, welcome.

As you're UK based, you trade the 'real time' - 6.30 UK time. Easy if you trade manually. (Depending on broker, you may need to adjust times on FMT indicator, or EA.)

Chris

 

[ochbyn]

Anyone using PFG BEST. I have three demos. The first 2 went short, stopped out even, but PFG placed Sell short & took profit of 51pips. My settings are the same as other two demos.

Broker stop55/profit55

hidden stop40/profit35

breakeven after/20

 

[GumRai]

Since we 'spring ahead' and London has no DST, you will have to subtract an hour from your current entry time. More sleep for me!

London most certainly does have DST
There may be a few weeks of some confusion as the clocks change in the USA this coming Sunday 13th March
The clocks change in the UK 2 weeks later on Sunday 27th March.
Some brokers may change their server time this weekend or in 2 weeks time, maybe some not at all

I suggest that anyone who is not sure should check at

http://www.timeanddate.com/worldclock/

FMT starts at 06:30 London time and if your broker changes server time this weekend, you will need to make adjustments. If you make adjustment this weekend, you will have to adjust back on the 27th.

 

[OWL75]

BE+5 this morning

 

[PipZombie]

Since we 'spring ahead' and London has no DST, you will have to subtract an hour from your current entry time. More sleep for me!

Just login this sunday and there will be plenty of dissussion and you should be able to work it out. London does not change their clocks until March 27th so for a lot of brokers that set their clocks to GMT, their should not be any changes until then. If your broker uses something other than GMT time or they adjust for United States DST then you will have to make changes.

 

[deserteagle]

Hi Desert Eagle..

What is the desert eagle you refer to in your spreadsheet... Thanks for sharing.

Cheers
Dave :cheesy:

Hi, see my previous post on page 833.