ForexMorningTrade System

[podberry]

Gee, must admit I wish FMT was available a few years ago, I personally would have saved thousands in blown accounts, Forex books, Silly trading systems that wreck your account within weeks.

Guess we are lucky to have found this great system whilst in it's infant stage (6 months since Mark started selling it)

Watch how its going to take off across the world with popularity, I hope the brokers don't catch on when they see masses of trades appearing on their servers at 06H30 every morning. We will make them broke especially the "bucket shops"

Anyone ever thought of the above or have I been smoking my socks ?

 

[Remraf]

Gee, must admit I wish FMT was available a few years ago, I personally would have saved thousands in blown accounts, Forex books, Silly trading systems that wreck your account within weeks.

Guess we are lucky to have found this great system whilst in it's infant stage (6 months since Mark started selling it)

Watch how its going to take off across the world with popularity, I hope the brokers don't catch on when they see masses of trades appearing on their servers at 06H30 every morning. We will make them broke especially the "bucket shops"

Anyone ever thought of the above or have I been smoking my socks ?

Perhaps Mark will send the Banks the names of all of us that have bought FMT so we can trade on their behalf with their funds, that will increase massively when they realise they are paying an over-the-top-fortune for all those bankers who believe they are irreplaceable! - I'll have another sock please

 

[Remraf]

Don't forget that this Sunday morning the clocks go forward 1 hour in the UK, so London open on Monday morning will be BST (GMT+1) - so we get an hour less in bed this Sunday

 

[podberry]

Perhaps Mark will send the Banks the names of all of us that have bought FMT so we can trade on their behalf with their funds, that will increase massively when they realise they are paying an over-the-top-fortune for all those bankers who believe they are irreplaceable! - I'll have another sock please

Better still Remraf, you could pay off the national debt and become prime minister. Have another sock on me......

 

[tkbieber]

Don't forget that this Sunday morning the clocks go forward 1 hour in the UK, so London open on Monday morning will be BST (GMT+1) - so we get an hour less in bed this Sunday

Let's be clear as to how this will effect the time you set on your broker as to when to trade. If your broker moves at the same time as UK time, you won't have to change a thing as far as your settings go with FMT. If your server is in the USA, then you may need to change it by 1 hr.

 

[podberry]

Let's be clear as to how this will effect the time you set on your broker as to when to trade. If your broker moves at the same time as UK time, you won't have to change a thing as far as your settings go with FMT. If your server is in the USA, then you may need to change it by 1 hr.

I think Monday morning is going to be a headache like last week with plenty of users getting confused again.......

Get ready for the 20 questions

 

[jimpees]

just wondering...

Is anyone having any success using different currency pairs? I've done some backtesting on the majors but non really showing much promise.

ps - pass the sock my way!

 

[tkbieber]

I think Monday morning is going to be a headache like last week with plenty of users getting confused again.......

Get ready for the 20 questions

I agree.
Should I bother giving directions??

Step 1: Find out current UK or London time by clicking HERE.
Step 2: Now with your fingers, count how many hours and minutes until 6:30 a.m Local London time.
Step 3: Write that number down on a piece of paper.
Step 4: Now open your Meta trading platform or whatever platform you use to trade.
Step 5: Switch your chart time to the 1hr time frame.
Step 6: Now look at your notes and use that number and count how many bars on your chart from NOW to that time and add 30 minutes.
Now you know what to put in your settings for the START/END time for FMT.
Example: Lets just say you go to the link above and current London time is 01:00 a.m
How many hours and minutes till 6:30 a.m.?(writing that down, 5 and 1/2 hrs)
Now go to your chart and look at CURRENT BAR time, oh it says 23:00, now I add 5 and 1/2 hrs. =04:30

BINGO, that's my new time setting for the next several months.

If your broker/server moves with UK time then you never have to change it. Only those annoying servers that move at a different time or don't move at all with the time change is the ones you have to worry yourself with.

Hope that will help those who read this.

 

[PipZombie]

whats the biggest drawdown/losing streak with FMT anyone has suffered?

biggest for we have seen is 7 in a row I think if you traded through December 2010. I would avoid the last two weeks of December and the First 2-3 weeks of January. I would also conside not trading August and the 1st week or two of September. Those tend to be times when the market is choppy and not much liquidity and sustained moves. If you avoided those times then the most I have seen is 3 in a row. My average after 83 trades is average of 3 wins in a row and average loss in a row 1.

My max trade size is 4%.

 

[PipZombie]

In 10 years time, with compounding, he'll probably be able to buy a university!

Let him or her get school loans. When they have done well with college and proved themselves. You can then wire some money from the island you bought with their college fund.

 

[PipZombie]

Gee, must admit I wish FMT was available a few years ago, I personally would have saved thousands in blown accounts, Forex books, Silly trading systems that wreck your account within weeks.

Guess we are lucky to have found this great system whilst in it's infant stage (6 months since Mark started selling it)

Watch how its going to take off across the world with popularity, I hope the brokers don't catch on when they see masses of trades appearing on their servers at 06H30 every morning. We will make them broke especially the "bucket shops"

Anyone ever thought of the above or have I been smoking my socks ?

I have been around since August 2010. I can say I have seen the euphoria and the despare. As for this system being wildly popular, I don' think it will because of the lack of patience and discipline. In December everyone was wanting to dump the system, those who had just joined took it on the chin. Only those who are patient and stick to the plan in good time and bad will be around for the long haul. That is why I think will never catch on.

 

[JOHNCO]

Gee, must admit I wish FMT was available a few years ago, I personally would have saved thousands in blown accounts, Forex books, Silly trading systems that wreck your account within weeks.

Guess we are lucky to have found this great system whilst in it's infant stage (6 months since Mark started selling it)

Watch how its going to take off across the world with popularity, I hope the brokers don't catch on when they see masses of trades appearing on their servers at 06H30 every morning. We will make them broke especially the "bucket shops"

Anyone ever thought of the above or have I been smoking my socks ?

Let's hope Mark does the way other system marketers do and limit access to prevent saturation so it does'nt impact the forex`market. I tried smoking socks but I did'nt enhale.

 

[wiseambitions]

Hi Remraf, I thought about the same thing here

http://www.trade2win.com/boards/tra...orexmorningtrade-journal-841.html#post1451532

SEE POST 6724

You may want to increase the risk to 2 % due to the accuracy of FMT, :smart:

I keep fairly accurate data on capital accumulation with FMT

With 2% risk per trade, starting 01/01/2010 and simple settings of 40tp/40sl.

A deposit of 10,000 would now have grown to 30125 all from 2360 pips
If you'd started 1st July your 10000 would now be 19300 from 1440 pips
If you'd started 1st January 2011 your 10000 would now be 12725 from 520 pips

It works great if you keep at it. But I bet in spite of the EA a lot of folks either don't persevere or they miss a few trades due to their own assessment of events, or they close some trades early due to their emotions. These results are for trading every day there is a signal and they include Christmas where there were several more losses than wins

In spite of a few days you soon get to FMT

 

[michaelsa]

I keep fairly accurate data on capital accumulation with FMT

With 2% risk per trade, starting 01/01/2010 and simple settings of 40tp/40sl.

A deposit of 10,000 would now have grown to 30125 all from 2360 pips
If you'd started 1st July your 10000 would now be 19300 from 1440 pips
If you'd started 1st January 2011 your 10000 would now be 12725 from 520 pips

It works great if you keep at it. But I bet in spite of the EA a lot of folks either don't persevere or they miss a few trades due to their own assessment of events, or they close some trades early due to their emotions. These results are for trading every day there is a signal and they include Christmas where there were several more losses than wins

In spite of a few days you soon get to FMT

Morning wiseambitions,

Thanks for the analysis. Those figures bring tears to my eyes!

I am beginning to FMT.

I agree with Podberry, in that I wish I had FMT a couple of years ago- would have saved me from a few account blow ups.

But then again I think it is all part of the process of becoming a successful trader. I still make mistakes and I am learning more everyday.

M

 

[podberry]

I keep fairly accurate data on capital accumulation with FMT

With 2% risk per trade, starting 01/01/2010 and simple settings of 40tp/40sl.

A deposit of 10,000 would now have grown to 30125 all from 2360 pips
If you'd started 1st July your 10000 would now be 19300 from 1440 pips
If you'd started 1st January 2011 your 10000 would now be 12725 from 520 pips

It works great if you keep at it. But I bet in spite of the EA a lot of folks either don't persevere or they miss a few trades due to their own assessment of events, or they close some trades early due to their emotions. These results are for trading every day there is a signal and they include Christmas where there were several more losses than wins

In spite of a few days you soon get to FMT

Wiseambitions, remember a few days ago when I said I would run the old and new version in tandem splitting the risk, do you recommend that ? Only reason is to at least make half when the new FMT stops out and then continues in the right direction. Bit of both worlds I suppose.

I'm at stage now that I want to run with fixed settings and not chop and change, however Hammy66's settings look very appealing at he is cashing in more than most are revealing. I will look at applying his settings on another account separately in due course once my main account has accrued enough to swing money over.

You are a veteran of the system (albeit 6 months) and I respect you opinion

 

[wiseambitions]

Wiseambitions, remember a few days ago when I said I would run the old and new version in tandem splitting the risk, do you recommend that ? Only reason is to at least make half when the new FMT stops out and then continues in the right direction.

I'm at stage now that I want to run with fixed settings and not chop and change, however Hammy66's settings look very appealing QUOTE]

Thanks
The corresponding figures for 35/40+BE as per current recommendations are as follows

1) Since 1 Jan 2010 25012
2) Since 1 Jul 2010 19671
3) Since 1 Jan 2011 12015

These are all for 06.30 UK time starting signals

Of course you can make up your mind about splitting the exits with and without BE and for a different TP; and that might not be a bad thing

Sorry I don't forward test Hammy's settings to know whether his would come out better or worse

 

[Remraf]

I keep fairly accurate data on capital accumulation with FMT

With 2% risk per trade, starting 01/01/2010 and simple settings of 40tp/40sl.

A deposit of 10,000 would now have grown to 30125 all from 2360 pips
If you'd started 1st July your 10000 would now be 19300 from 1440 pips
If you'd started 1st January 2011 your 10000 would now be 12725 from 520 pips

It works great if you keep at it. But I bet in spite of the EA a lot of folks either don't persevere or they miss a few trades due to their own assessment of events, or they close some trades early due to their emotions. These results are for trading every day there is a signal and they include Christmas where there were several more losses than wins

In spite of a few days you soon get to FMT

Thanks for the input Wiseambitions & Podberry, much appreciated; I'm thinking that I'll run it without interference day after day, possibly only stopping it the 4 weeks either side of Christmas. Best regards.

 

[podberry]

I have attached a compound calculator for those that are interested - Nice to have a play if you use Marks average 7% per month to see where you will be in months or years to come, using your current balance, enjoy

 

[stricky1967]

Is anyone able to backrest hammys settings from 1/1/2010? would be great to compare

 

[jimpees]

Is anyone able to backrest hammys settings from 1/1/2010? would be great to compare

I did a bit of back testing just for Feb this year (I only really wanted to compare recent market activitiy).

its not pip totals but £ totals, starting with a £1000 account, risking 5%.

RESULTS FEB 2011 SETTINGS; SL = 40 TP = 35 BE = 20 (MARKS SETTINGS)

06:15 - £1293.47
06:30 - £1440.37
06:45 - £1169.51 TOTAL PROFIT FOR MONTH = £902



SL = 55, TP = 35, BE=25 +5 (HAMMY's SETTINGS)

06:15 - £1301.57
06:30 - £1236.36
06:45 - £1259.84 TOTAL PROFIT FOR MONTH = £796


Thanks for the compound calculator podberry.