ForexMorningTrade System

[podberry]

Yes Ijan FX - Oanda changes from 01H30 to 02H30

 

[ijan_fx]

anyway from chart, gu could be to 60856, so i guess long with be BE in short time
from my experience of gu price action

 

[musallam]

Good morning,
What do we do for FXDD? do we change the timing?

 

[ijan_fx]

since the timing is wrong
so i get out with some pips here
for statistics with owner will be the same

good luck to you guys

 

[ijan_fx]

so what is the signal anyway now

 

[FX girl]

so what is the signal anyway now

long on FXDD and Ava live

 

[Geoff135]

Hi everyone.

Re: 7tp/20sl and 10tp/40sl

Bit puzzled by your enthusiastic interest in these numbers guys.

The test between Dec 09 and Feb 11 covers 243 trades that had a signal on FMT. I didn’t record any data of a swing less than 20 pips (to account for the 20BE in the stats) so would have to go right back to the beginning to get figures on these sets – another 40/50 hours at least. I wouldn’t mind doing that if I thought it worthwhile. But just consider the following:

The worst performing set in the test (30tp/40sl) produced 1803 pips.

At 7tp/20sl even if every single trade was a winner, that would only be 1701 pips (243 x 7)
And at a ratio of 7/20, you would have to win 180 of the 243 trades (74%) just to break even.

At 10tp/40sl again if 100% of trades were winners – 2430 pips.
And at a ratio of 10:40 (1:4) you would have to win 195 of the 243 trades to break even.

Or am I missing something?

Mike

Hi Mike
According to my rough strategy tester on fxpro I see the following for 40SL/10TP
SELLS-93.68% win
LONGS - 83.20% win
Overall - 87.73 win
Profit factor - 1.9
Max drawdown - 14.97%
max consecutive wins - 25
max consecutive losses - 2 (once)
10K a/c @ 5% risk ratio starting on the same day and finishing on the same day as your examples = $19029 profit
Thinking with the high win rate the risk ratio can be higher than 2%...thats all
Now having said that...my test says there were only 220 trades compared to your 243 and modelling quality is 90%...so my figures need confirmation from a more accurate source

 

[ffchaci]

Long 16077.6 IG Index

 

[podberry]

I got a no Signal from Oanda - But long on Smart live and Alpari UK demos - I manually entered long on Oanda though. Wonder why I never got a signal with Oanda - Must be something to do with the server work over the weekend - Strange

 

[michaelsa]

Morning All,

FXDD- I had to move my 'start time' forward 1 hour.

Anyway.

EA Long @ 1.60759

GL all

M

 

[Remraf]

Frankfurt clearly doesn't see the day as FMT does at the moment, thought we were going to get taken out on their 1st candle! -fingers crossed!

 

[michaelsa]

Frankfurt clearly doesn't see the day as FMT does at the moment, thought we were going to get taken out on their 1st candle! -fingers crossed!

I agree, its taking a nose dive!

Fingers, legs, arms crossed!

 

[JWBear]

Morning All,

FXDD- I had to move my 'start time' forward 1 hour.

Anyway.

EA Long @ 1.60759

GL all

M

I know we had to move our clocks ahead here in the US but are you sure FXDD adjusted there time?

 

[zorba_g]

Hi everyone.

Re: 7tp/20sl and 10tp/40sl

Bit puzzled by your enthusiastic interest in these numbers guys.

The test between Dec 09 and Feb 11 covers 243 trades that had a signal on FMT. I didn’t record any data of a swing less than 20 pips (to account for the 20BE in the stats) so would have to go right back to the beginning to get figures on these sets – another 40/50 hours at least. I wouldn’t mind doing that if I thought it worthwhile. But just consider the following:

The worst performing set in the test (30tp/40sl) produced 1803 pips.

At 7tp/20sl even if every single trade was a winner, that would only be 1701 pips (243 x 7)
And at a ratio of 7/20, you would have to win 180 of the 243 trades (74%) just to break even.

At 10tp/40sl again if 100% of trades were winners – 2430 pips.
And at a ratio of 10:40 (1:4) you would have to win 195 of the 243 trades to break even.

Or am I missing something?

Mike

Dumb question, but are you assuming the same lotsize for 7tp/20sl vs 30tp/40sl? You will no doubt already have seen people talking about money management - if you risk 2% on each trade regardless of the number of pips then your 7tp/20sl would seem to have done a lot better as you would be staking double on each trade.

Apologies if it was mentioned that the pips might be scaled further back on the thread, but I must have missed that post :cheesy:

 

[michaelsa]

I know we had to move our clocks ahead here in the US but are you sure FXDD adjusted there time?

I'm pretty sure.

I now live in the UK, and when I opened MT4 all the settings were off by an hour. I'm sure that when UK DST starts at the end of March I will have to reverse the change.

M

 

[sunny12]

I know we had to move our clocks ahead here in the US but are you sure FXDD adjusted there time?

Yes FXDD has moved the clock by 1 hr.

Alpari UK is still the same.....

 

[wiseambitions]

You'd have needed SL greater than about 50 to still be in this trade by now.

 

[forexsniper]

stopped out!

 

[ffchaci]

stopped out w/ IG Index

 

[Remraf]

Gone! - fastest losing trade since using FMT!