ForexMorningTrade System

It is not easy avoiding FMT tax profits on this side of the Atlantic. I tried to open an SLM account, and this is the response I got. :)I got a laugh out of the last line, so I thought I would share it:
"Spread betting is not tax free in Canada.
In addition to that we will not open accounts for ANYONE in North America, for either a spread betting account or a normal FX account.
You can thank the protectionist nature of your government for that.

Regards
SLM
"
 
hammy66 said:
FMT for me this morning (55-35-25-5)

6:15 start, signal sell trade, hit BE+5 pips
6:30 start, signal sell trade, hit BE+5 pips
6:45 start, signal sell trade, hit BE+5 pips

total today +15 pips.
Click to expand...
Hammy; are you still finding that 6:30 signal time is still the best out of all three?(y)..for your settings?..thanks
 
Long on Alpari US and FXDD. A little worried about this one. But I am still trusting the system, with original settings, no matter what
 
trader578 said:
It is not easy avoiding FMT tax profits on this side of the Atlantic. I tried to open an SLM account, and this is the response I got. :)I got a laugh out of the last line, so I thought I would share it:
"Spread betting is not tax free in Canada.
In addition to that we will not open accounts for ANYONE in North America, for either a spread betting account or a normal FX account.
You can thank the protectionist nature of your government for that.

Regards
SLM
"
Click to expand...

Hi trader578

Must say I am a little surprised at their response, not very professional in my opinion, I have a demo with SLM and will have second thoughts putting real money in live account if that's how they converse with potential customers. (n)
 
I opened 2 trades on 2 GU charts and the EA only set the SL and TP for one trade. I am using different Magic Numbers. Has anyone experienced this before?
 
coral said:
If we are still in a long stance at 06:30, it should be interesting. Big resistance after an extended move up and a huge head and shoulders formation on H4/Daily. But I hope to wake up to some pips.
Click to expand...

1.6400 is big level, I'll be setting up a SHORT position again when it touches it (outside of FMT trading) as last time it fell like a stone
 
Morning all,
here is my bit on "is FMT profitable"?

I have been trading live on the standard settings on Alpari UK.

A very simplistic analysis:
Over the past months I have seen an average monthly increase on my account of around 15%, If you compound that, you are doubling the account aproximately every 5 months. Or, a $1000 account would stand at $28000 in 2 years.

Even at 10% the account would have grown by a factor of 10 in that same 2 year period.

What I love about FMT is consistency with the standard settings, put simply, it is working well slowly building the account, that is all I ask and I for one will be sticking with FMT, it is just so easy!

Great forum and some very balanced and helpful posts, I commend all contributers.
 
uberpips said:
I opened 2 trades on 2 GU charts and the EA only set the SL and TP for one trade. I am using different Magic Numbers. Has anyone experienced this before?
Click to expand...

uberpips, did you change you maximum lots, happened to me yesterday :)
 
magicdogsbrain said:
server or VPS issues -
power cuts at MT4 host (VPS) -
Problems with malfunctioning or ill coded EA -
loss of internet -

I accept and expect issues and take my own precautions and have contingency.

Live broker price feed going down - absolutely 100% broker problem.

I cant believe that not only did they not compensate many people for an obvious and serious issue - but when they realized how many people where banging their fists on the desk and asking for compensation - they took it away from those few they did give it to!

Are you not annoyed - I cannot believe you are not furious - are you on some kind of horse tranquilizes?

I cant think what they could have done today that would have been worse for loss of custom - its so ridiculous.
Click to expand...

At the time I didn't realise my feed had dropped. My SL was honoured and I can't expect more than that when trading an EA. That is how I look at it anyway. Each to their own.
 
Stats for 04-05-2011



Live Accounts:

FMT 4.3, EA standard settings: 40 SL, 20 BE, 35 TP
6:30 UK Time, FXSolutions..., Short/Break Even....., -1.0, Stats since 11-08-2010: Total= +173.0
6:30 UK Time, IBFX.........., Short/Break Even....., -0.5, Stats since 01-04-2011: Total= +376.6
6:30 UK Time, PFG Best......, Short/Break Even....., -0.4, Stats since 03-01-2011: Total= +190.1



Demo Accounts:

FMT 4.3, EA standard settings: 40 SL, 20 BE, 35 TP
6:30 UK Time, PFG Best......, Server Down...., 0.0, Stats since 02-01-2011: Total= +464.2
6:30 UK Time, FXCM.........., Short/Break Even....., 0.0, Stats since 02-01-2011: Total= +496.7
6:30 UK Time, Alpari(US)...., Short/Break Even....., 0.0, Stats since 02-01-2011: Total= +457.9
6:30 UK Time, FXDD.........., Short/Break Even....., 0.0, Stats since 02-01-2011: Total= +381.8



Notes:

All pip totals include slippage
FXSolutions is the only dealing desk broker



Comments:

PFG Best demo server was down again for the 4th time at 6:11 UK time and came back up at 7:28 UK time.
 
Last edited:
High impact Halifax HPI coming up at the top of the hour. Hopefully, that will give us a boost to tp.
 
Originally Posted by trader578
It is not easy avoiding FMT tax profits on this side of the Atlantic. I tried to open an SLM account, and this is the response I got. I got a laugh out of the last line, so I thought I would share it:
"Spread betting is not tax free in Canada.
In addition to that we will not open accounts for ANYONE in North America, for either a spread betting account or a normal FX account.
You can thank the protectionist nature of your government for that.

Regards
SLM
Click to expand...
podberry said:
Hi trader578

Must say I am a little surprised at their response, not very professional in my opinion, I have a demo with SLM and will have second thoughts putting real money in live account if that's how they converse with potential customers. (n)
Click to expand...

Well, anybody living in the USA is not a potential customer.
I don't see what is unprofessional about their response. They are stating the truth. The US government does not allow its citizens the choice when it comes to online gambling. They can only deal with US based sites.
 
GumRai said:
Well, anybody living in the USA is not a potential customer.
I don't see what is unprofessional about their response. They are stating the truth. The US government does not allow its citizens the choice when it comes to online gambling. They can only deal with US based sites.
Click to expand...

So GumRai you think this statement is acceptable

'You can thank the protectionist nature of your government for that' - Professional companies so not express their geo-political views to the outside world. Maybe in in your neck of the woods they do. :-0
 
podberry said:
So GumRai you think this statement is acceptable

'You can thank the protectionist nature of your government for that' - Professional companies so not express their geo-political views to the outside world. Maybe in in your neck of the woods they do. :-0
Click to expand...

Try living in BC Canada. 1 Good forex broker (Oanda) and a max of 50:1 leverage.:eek:
 
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