ForexMorningTrade System

[Remraf]

Long but I don't like this trade.

You will when you've experienced more of the wizzardry of FMT - I used to try and second guess it, and it always beat me! - another cracking morning +35

 

[davinci79]

You will when you've experienced more of the wizzardry of FMT - I used to try and second guess it, and it always beat me! - another cracking morning +35

I using original settings (TP40) and I'm still in

 

[pret]

I was Stopped out on my Sigtrader account this morning @BE = 0 Entry was @ 1.6097

 

[Remraf]

I think you'll still get it, still a strong uptrend, plenty here use the TP40 setting. - fingers crossed!

 

[jimpees]

I use CNS, American based, they have a London data centre and the ping rate is good with Alpari UK

Chris

Thanks Chris, their specifically for traders I see, which is encouraging!

today: Oanda +35 Alpari UK +37

 

[deserteagle]

We are having a great 2011, February and March were excellent.

I FMT

 

[andybissell]

That win put my account in £8 profit!

 

[admingre]

Market has taken out Asian session high, yesterdays high, the day before high and the day before high. I would say there is not serious resistance. Should it find the high of 4 dyas ago then we will be at BE anyway. Ofcourse the market can turn at any stage, as we all know, but the trend sure looks up to me. Lets hope it has enough gas for another 35-45 pips Norh.

You are right. I scored the 35+ pips today!

 

[jimpees]

I opened my first Demo account with ThinkForex because they include free VPS, but Im leaning towards SLM as spreadbet MT4 broker as I'm not too sure how I would deal with gains made with the UK tax system as making sure SLM is running before trading time makes me get up at 6.10 every morning in the week!!

FOREX is tax free in the UK. awesome.

 

[podberry]

+35 pips e global entry @1.6113
what was you entries pod and johnco ?

1.61103

 

[podberry]

FOREX is tax free in the UK. awesome.

Hi jimpees

Just to correct you, forex is not tax free in the UK as capital gains tax applies, however Spreadbetting would be Tax Free

 

[JDJD88]

Good morning . A quick request for anyone with the time to reply...

Do you guys know where the "long Trend Filter" setting is? Mark refers to it in the manual:
"4.3 Long trend filter
One of the forex rules that it repeated in every forex lesson is "go with the trend". This filter will ensure that we'll do this. It will skip trades that go against the long term trend. The long term trend is determined by EMA with given period (200 period recommended). This filter is optional, but I recommend using it."

I must be blind - I am not seeing it.

Thanks for your time and replies.

 

[jimpees]

Hi jimpees

Just to correct you, forex is not tax free in the UK as capital gains tax applies, however Spreadbetting would be Tax Free

HI Pod,

oops, yeah v. important distinction actually!

 

[slaredo]

Hi, I'd love to use 1:1RR and I know all the trading books and sages say this is a must for any system to be profitable, but in my data I found optimisation at TP37/SL48, as a 'one size' setting which made good returns over 2009/2010 and so far live over 2011. Reason seems to be in my experience of FMT that expecting over 40 pips favourable movement on M15 is often a big ask, and often an unfavourable move goes to 40 or just over before turning again, anything over 48 unfavourable and it seems to keep going and you would want to be out of the trade...
Plugging your numbers in:
SL/TP 2011 to date
30/30 +30 pips
35/35 +385 pips
40/40 +280 pips
45/45 +315 pips
55/55 + 55 pips
35/70 +420 pips
35/45 +315 pips

My setting of TP37/SL48

Hi catfish,

i come back to your backtest, which i find to be a fantastic help to understand the Risk to reward ratio... (where we see also that with no risk, no win !!)
My question:
Could you try to help us in understanding also the influence of Entry time.
People are speaking here about 6:00, 6:15.... what ever could you try to give us a view on what would be the results of those settings and try to make a matrix of the criterias:
SL / TP / Time

Thanks for your helps.

SL

 

[lumbco]

Used standard FMT settings with Hammy66 timings on live Alpari UK account result today:
07:15 trade BE
07:30 trade win
07:45 trade win

Used Catfish settings (see #7525) with Hammy66 timings on a demo Alpari UK account result today:
07:15 trade win
07:30 trade win
07:45 trade win

All times Alpari UK

 

[ihelfman]

hi Pod
If i move BreakevenAddpips to 5 Will that move BE to 5 pips from entry to gain 5 pips?
Thank you Sorry about newbie Q

My backtests and live trades with BE +3 taught me the hard way that not adding pips is more profitable.

 

[catfish911]

Could you try to help us in understanding also the influence of Entry time.
People are speaking here about 6:00, 6:15.... what ever could you try to give us a view on what would be the results of those settings and try to make a matrix of the criterias:
SL / TP / Time

Thanks for your helps.

SL[/QUOTE]

Hi,
Sorry but all my data set is based on just the trade outcomes from UK 06:30 entry time - I've never looked at entry at slightly different times, so I can't really give you an answer on that. I know Hammy here uses staggered entries at 6:16/6:30/6:45 I think, so he may have some useful data to share. I wanted to stick with Mark's 6:30 entry time as I'm sure he's tested it to oblivion and found it to be most the reliable entry time, but you are wise to investigate amending the settings yourself and DYOR.

 

[Doomberg]

I am not trading Thursday and Friday (just disabled the EAs) - had such a good run with TMT and FMT - luck of the draw and NFP are telling me to take a break.

Good luck to everyone - hope its a full TP X 2

Hey guys whats NFP? And how does it effect trading

 

[slaredo]

Ok thanks for the very quick answer catfish911 !!
I thought for specilist in Backtesting, it is "easy" to intruduce parameter in some program able to compute all this in a few minutes... I am not an expert of Mt4 backtesting, but i have read on the internet that there are powerfull tools (like add-ons) to make all those sort of test...
so if anyway know how? would be interesting surely interesting.
Note: that I tested the last 3 days with 0,01 lot so the smallest i can, GDDCAD and had only wins with the same setting as Mark. (gbdusd and gbdcad is often highly correlated....)

 

[grahamstuart]

I use CNS, American based, they have a London data centre and the ping rate is good with Alpari UK

Chris

Anyone here have positives / negatives to report from using the VPN service offered "free" by FXCM?
One potential disadvantage - their spreads of 3-4 pips around 06.30 UK time would seem to be quite wide compared to what others are reporting from their brokers in this thread.