ForexMorningTrade System

[dapero]

Thanks, what does 10/40 mean? SL=10/ TP=40?

Results from last 100 trades (E&OE). These trades are all in the last 6 months including Christmas.

FMT settings +525
Old FMT +560
10/40 +650
20/40 +260
30/40 +620

 

[GumRai]

thanks, what does 10/40 mean? Sl=10/ tp=40?

tp 10
sl 40

 

[Liberator]

The Irish must have had a few drops o'luck left over for me from yesterday.

This morning I took the signal to go Long, and an hour later won 35 pips - by a margin of three tenths of a pip. The price then fell 126 pips in 100 minutes.

 

[chiprec]

Yea no trade for me yesterday or today using TMT, Alpari UK.Filters keep us out of some winners , also some losers.Of course the options are there to turn em on or off.

 

[hammy66]

FMT for me this morning: (settings, 55-35-25-5) on Forex.Com-UK

6:15 start, buy trade, hit BE +5 pips
6:30 start, buy trade, hit TP +36 pips
6:45 start, buy trade, hit TP +36 pips (just added today)..

total today +77 pips.

total this week +290 pips..

Great week !..have a great weekend !..

 

[coral]

Hello Hammy. Just curious about your MM in the 3 times you're trading. Are you using full risk on the three trades, or apportioning the risk? Thanks for your interesting posts.

 

[hammy66]

Hello Hammy. Just curious about your MM in the 3 times you're trading. Are you using full risk on the three trades, or apportioning the risk? Thanks for your interesting posts.

Hi, you are very welcome !..

I always use fixed lots same for each start time.
You know what the risk is, SL=55 pips, on each trade so figure out what you can afford to lose depending on your account size. Personally I don't increase my lots even when my account is increasing, I'm happy with a fixed profit, not a % of my account because I'm trading other EAs on same account.

cheers !..

 

[Tmade]

Hi, you are very welcome !..

I always use fixed lots same for each start time.
You know what the risk is, SL=55 pips, on each trade so figure out what you can afford to lose depending on your account size. Personally I don't increase my lots even when my account is increasing, I'm happy with a fixed profit, not a % of my account because I'm trading other EAs on same account.

cheers !..

Hi,
I'm just trading the FMT, and I was wondering if you have any suggestions to other EA's that have worked well for you? Or anybody else?

 

[Remraf]

Hi all,

In IG, once the trade is open, you can edit it to add a trailing stop (can't remember if you have to turn trailing stops on in your preferences first). I normally set the 'distance' to 20 and the 'step' to 40 and that seems to work.

Thanks for that Greendragon, I'll give the trailing SL a whirl on IG whilst I set up my live account with Smart Live. Best regards,

 

[chrisheath]

Antonio,
You have TMT, ADR I believe relates to daily range. There is a default Long Candle setting. Backtests show that previous 15 m candles (within a certain range!) can affect the indies adversely. eg a 'big' short candle, can 'make it look like' the indy trend is down. When in fact the Asian session trend is up. Just an observation, and you need to test this yourself. Most previous daily ranges greater than around 230 - 235 have a problem (ie less movement next day).
And , as Wise has often pointed out , 40 40, has performed well through thick and thin. (Who said simple is best??)
Regards, Chris.

 

[antonio2010]

Antonio,
You have TMT, ADR I believe relates to daily range. There is a default Long Candle setting. Backtests show that previous 15 m candles (within a certain range!) can affect the indies adversely. eg a 'big' short candle, can 'make it look like' the indy trend is down. When in fact the Asian session trend is up. Just an observation, and you need to test this yourself. Most previous daily ranges greater than around 230 - 235 have a problem (ie less movement next day).
And , as Wise has often pointed out , 40 40, has performed well through thick and thin. (Who said simple is best??)
Regards, Chris.

Thanks Chrisheath
Anyway, I run a backtest for 2010 with both FMT and TMT and find TMT results are better in the long run, so I will sticking with it and 40SL-35TP
AM

 

[chrisheath]

Thanks Chrisheath
Anyway, I run a backtest for 2010 with both FMT and TMT and find TMT results are better in the long run, so I will sticking with it and 40SL-35TP
AM

Indeed, and never forget - - - there is no reason that the longs and the shorts are the same---

Good pip hunting ----

 

[Kylefx]

Is there anyone who can make a 5 and a 10 Year Backtest ?

 

[deserteagle]

Weekly update.

 

[Remraf]

Thanks for that Greendragon, I'll give the trailing SL a whirl on IG whilst I set up my live account with Smart Live. Best regards,

Hi Greendragon, I've had a look at this on IG and can't see how your 20 distance works with a 40 stop (my understanding is the distance is your SL - so 40 not 20?), as I've just watched a video on their site and my understanding is that a step of 40 moves 40 when the price has moved 40, so if your SL is 40 and your TP is 35 it never triggers before you take profit. My understanding then is that you can't move a SL from to BE because it's step to that point is greater than the distance from ENTRY to TP - but I'm happy to be corrected if I've missed something.

 

[3PO]

Weekly update.

Hi,
your results are great! My only proble is that OpenOffice Calc does not show the diagrams on your worksheet. How could this problem be solved?

3PO

 

[deserteagle]

Hi,
your results are great! My only proble is that OpenOffice Calc does not show the diagrams on your worksheet. How could this problem be solved?

3PO

I suppose an Excel 2007 viewer could work, but not sure at all.

 

[podberry]

Weekly update.

Thanks deserteagle

Your spreadsheet gives us a good insight to all the different T/P's and S/L's that some people are using, No reason for me to change any settings as Marks new 40/35 strategy is right up there in the profit taking according to your stats - The 65SL 43TP 20BE strategy is not for the faint-hearted - Brilliant Thanks:clap:

 

[wiseambitions]

06.20 GMT. I'm looking at more than one chart, and today is one where we are going to get mixed signals. Alpari UK, possibly a long based on a data feed starting 23.00 Sunday night, but another chart which started an hour earlier would say don't go. So who knows what we are in for in this session? Good luck guys

 

[podberry]

Short - Oanda - I agree with you wiseambitions, my charts are all over the place