ForexMorningTrade System

lumbco · Apr 11, 2011

11th April All times Alpari UK

Standard FMT settings with Hammy66 timings on live Alpari UK account, result today:
07:15 NT
07:30 NT
07:45 TP

Catfish settings (see #7525) with Hammy66 timings on a demo Alpari UK account, result today:
07:15 NT
07:30 NT
07:45 TP

Mrs Market · Apr 11, 2011

Remraf said:
NO TRADE on SLM or ThinkForex from 6.15 - 6.45

Remraf my Think indicated a trade at 6.45gmt but it didn't trigger. Was yours a true NT ?

My Think platform did this on Friday also - so that's 2 days I've missed out on winners.

jimpees · Apr 11, 2011

Morning All, freaky monday strikes again it seems:

standard settings, 6:30am start time:

Oanda live: no trade
Alpari Uk live: no trade
intertrader.com live: lONG = -40pips.

catfish911 · Apr 11, 2011

lumbco said:
11th April All times Alpari UK

Standard FMT settings with Hammy66 timings on live Alpari UK account, result today:
07:15 NT
07:30 NT
07:45 TP

Catfish settings (see #7525) with Hammy66 timings on a demo Alpari UK account, result today:
07:15 NT
07:30 NT
07:45 TP

Hi Lumbco,

As you are demo trading my settings 37/48 no BE, please note I have lowered TP to 35 from 37 due to spread, my testing shows it does not affect profit too much due to improved win rate compensating for the loss of 2 pips per winning trade. Otherwise feel free to test at original setting of 37, not much in it but found 35 makes equity curve that bit smoother as I'm compounding, thanks.

No trade for me today on Alpari UK

coral · Apr 11, 2011

No trade today Go Markets

lumbco · Apr 11, 2011

catfish911 said:
Hi Lumbco,

As you are demo trading my settings 37/48 no BE, please note I have lowered TP to 35 from 37 due to spread, my testing shows it does not affect profit too much due to improved win rate compensating for the loss of 2 pips per winning trade. Otherwise feel free to test at original setting of 37, not much in it but found 35 makes equity curve that bit smoother as I'm compounding, thanks.

No trade for me today on Alpari UK

Thanks, I'll change my TP to 35

mgarry · Apr 11, 2011

zorba_g said:
Loads do. ForexOnTheGo is the developer most of the time. They publish on iPhone and Android.

Thanks Zorba, It looks like one has to pay for it unless you have a live account with their list of brokers. I used a demo account with alpari for meta trader and trade with IG Index.

hammy66 · Apr 11, 2011

FMT for me this morning (55-35-25-5)

6:15 start, No Trade
6:30 start, No Trade
6:45 start, signal sell trade, hit TP +35 pips.

total today +35 pips..

kgk · Apr 11, 2011

i got a buy on my live IBFX account and ended with a SL :-( did anyone else get a BUY ? I used standard settings.

Thanks.
kgk

kgk · Apr 11, 2011

Has anyone done back-testing with no trade on Monday's? Just to prove that turning off the EA on Monday's might cause less heart burn?

Cheers.
kgk

wiseambitions · Apr 11, 2011

kgk said:
i got a buy on my live IBFX account and ended with a SL :-( did anyone else get a BUY ? I used standard settings.

Thanks.
kgk

I know the experience is irritating to you, however I have become of the opinion that there will be other days you get a win and others get a loss, so these things have a possibility of evening themselves out in the long term.

Just keep with the rules and you'll do fine

catfish911 · Apr 11, 2011

kgk said:
Has anyone done back-testing with no trade on Monday's? Just to prove that turning off the EA on Monday's might cause less heart burn?

Cheers.
kgk

Don't be hasty in writing off Monday trades because the last few have been indifferent or losing... I analysed my data by day of the week for 2009/2010 using 35/48 no BE, 2009 Mondays had a 79% win rate and 2010 Mondays had 75% win rate. Oddly that made 2009 Mondays the day of the week with highest win rate, and 2010 Mondays had the lowest win rate.

So I think in conclusion it doesn't really make a difference over the longer term, and there isn't really a pattern to loss/win by day of the week, to me anyway. You just might get a run over a month or two where the stats for one day of the week don't look good but you need a longer period to review to see a clear pattern. I thought that Thursdays/Fridays were especially good win rate days, but that hasn't particularly been borne out in 2011 - I just think you have to follow the rules and trade or not according to the indicators to achieve long term profit, as soon as you start meddling you'll probably regret it...

kgk · Apr 11, 2011

catfish - good answer. thanks for taking the time to respond. you are apparently more disciplined/patient!! something i need to learn.. thanks for the reassurance.

kgk

tkbieber · Apr 11, 2011

kgk said:
Has anyone done back-testing with no trade on Monday's? Just to prove that turning off the EA on Monday's might cause less heart burn?

Cheers.
kgk

In reality, for the last 12 months, if you were to turn off Mondays, you would loose a lot of good trades. The accuracy is still 70% no matter what day of the week.

biggreycat · Apr 11, 2011

wiseambitions said:
Are we in for another one of those Mondays where some people get a signal and others dont, or even some people get a buy and others get a sell? It looks very borderline to me, 06.15

How often does this divergence of trades happen? I only started FMT very recently and until today, its mainly consistent with the trades everyone else seem to have but from yr post, it seems that its a common Monday thing that it just gets kind of weird?

uberpips · Apr 11, 2011

biggreycat said:
How often does this divergence of trades happen? I only started FMT very recently and until today, its mainly consistent with the trades everyone else seem to have but from yr post, it seems that its a common Monday thing that it just gets kind of weird?

Only Mondays because of different broker's feeds starting at different times after the weekend.

wiseambitions · Apr 11, 2011

tkbieber said:
In reality, for the last 12 months, if you were to turn off Mondays, you would loose a lot of good trades. The accuracy is still 70% no matter what day of the week.

Excluding Monday 3rd January.

Results for Mondays since new year in my forward testing:

35/40/BE@20 +20 pips
40/40 no BE +40
10/40 -10
28/40 -18
43/65/BE@20 +42

This is not a big sample size, but shows some divergence of outcomes on Mondays!

uberpips · Apr 11, 2011

mgarry said:
Morning all, does anyone know any companies that offer an app for metatrader? Might come in handy when you are on the move or as a backup!

http://www.mt4remote.com/

pdrmendes · Apr 11, 2011

Hi, this is my first post in thisn thread.

I've bought FMT yesterday and was checking the trading journal of FMT and there on the top says "I continue trading Forex Morning Trade with standard settings: Profit Target = 35, Stop Loss = 40 pips, Break Even = 20 pips, UseLongCandleFilter = true".

What is the filter "UseLongCandleFilter = true"? How can I verify that mine is correctly or change it?

JOHNCO · Apr 11, 2011

Deja-Vu.

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