ForexMorningTrade System

[podberry]

Hi
the Lukton Visual Order Editor ea allows you to set tp & sl levels. also allows you to drag those levels up & down on screen whilst you're in the trade

Billiant - Thanks, I'll have a look after after work.

 

[podberry]

Yes trading off the charts is not possible in MT4 and you have to open up the order window to adjust the SL and TP. This is one of the main reasons the real scalpers don't use them. The only way to get around are the EA's. But again they are good if you have fixed SL, TP and trailing stops otherwise you have to edit the values which again takes time.

PS: By the way how was your experience with chart trading at Oanda, I have heard some stories of charts freezing up and not able to move your SL and TP.

Hi Sunny, thanks for the response - to a certain degree yes, but mainly on the demo when java updates occur and Oanda get bugs and have to come up with fixes, the real account platform is very stable.

 

[wiseambitions]

Another bad day for those who didn't use BE if the TP was greater than about 28

Results for last 100 trades at various settings
Deserteagle +421
FMT +460
Old FMT +640
10/40 +650
28/40 +556

Rolling 12 month gains
DesertEagle +1527
FMT +1865
Old FMT +2040
10/40 +1260
28/40 +1948

The going is getting tough lately, and the tough are getting going!

 

[davinci79]

SL hit -40 pips

 

[lumbco]

14th April
All times Alpari UK

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

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

 

[barebud]

I got NO TRADE on Oanda, anyone else with a NO TRADE today or is something wrong with my platform?

 

[Adamus]

*mutters under breath*...stupid sideways market today... heh.
Managed to get both a Long and Short trade today but ended up both SL without BE triggering. And to think i actually thought this would hedge each other.

6:00 - SELL - SL
6:15 - NT
6:30 - NT
6:45 - LONG - SL

I think over the long term they might hedge each other to a limited extent, but in the short term I think you'll just as likely see whipsaws, as I did yesterday. Hammy66's 4-entries technique is interesting although I haven't seen him conclude anything like that yet about it.

 

[catfish911]

Yet another +30 favourable rise before the big reversal... luckily my EA didn't open the trade today, although Buy rules were met. By the time I saw the indicators off the scale and the big rise that had already happened at 7:00am I thought I would take a day off trading today (luckily, as no BE for me). Think a good setting would be TP28 at the moment given the current market conditions. I had 4 consecutive losses last week which is an FMT once-a-year event per my backtests for 09 and 10, and I'm surprised the market is still not yielding 35 pip + rises. Cracking flat market yesterday, glad I had a no trade. Oh well, must stick to the rules and settings to make this thing work, so back to it tomorrow for FMT business as usual, let's hope cable decides where it's going soon...

 

[kgk]

I think over the long term they might hedge each other to a limited extent, but in the short term I think you'll just as likely see whipsaws, as I did yesterday. Hammy66's 4-entries technique is interesting although I haven't seen him conclude anything like that yet about it.

I think that hammy does 3 entries 615, 630 & 645

 

[kgk]

took BE in the end....looks like another sideways day! bit annoying

Andy BE equals NO loss

 

[kgk]

I think there are merits in his argument but remember that his findings were based on the 40/40, no BE rule and as we have seen its not been a great month so far for this setting. The 35/20/40 setting has yet to yield a winner or a loss so its not like FMT is not getting direction correct for the majority of this month. Perhaps its best to make a mental note for next year that April should be traded with the 30/20/40 rule as this result has so far proved profitable.

Although very content with the Standard settings, I will probably do this for the month of August as well as reduce risk per trade purely becuase we have not seen FMT inAction during this month and WE ALL KNOW its TRADER HOLIDAY month.

So, when u guys mention 'trader', 'holiday' etc - are u just covering th FX markets in particular or are u including the other markets also (stock, futures, options etc.) Just curious. Thanks

 

[hammy66]

FMT for me this morning, (45-35-25-5), Forex.Com-UK

6:15 start, signal long, hit TP +36 pips
6:30 start, signal long, hit BE +5 pips
6:45 start, signal long, hit SL -45 pips.

total today -4 pips..

weekly total +60 pips..

 

[Bobcat1354]

I got NO TRADE on Oanda, anyone else with a NO TRADE today or is something wrong with my platform?

Hi barebud,

I believe your settings are incorrect as my Oanda trade was executed.

Good trading,
BC

 

[coral]

Another BE today, Go Markets 40/35/20/0. No income yet in April, but no losers either.

 

[jabu99]

Hi barebud,

I believe your settings are incorrect as my Oanda trade was executed.

Good trading,
BC

My EA went long on Oanda too.

 

[tkbieber]

jabu99, Tell me your Avitar picture doesn't look like Scott McCreery on American Idol. How funny is that?

 

[Jashfx]

So, when u guys mention 'trader', 'holiday' etc - are u just covering th FX markets in particular or are u including the other markets also (stock, futures, options etc.) Just curious. Thanks

Dont trade stocks so cannot comment but it is just generally known that August is not a good month to trade.

From my side Im referring specifically to FX Market.

 

[wiseambitions]

I've just been backtesting August 2010.
In my analysis (Errors and omissions excepted), the more aggressive settings had a bad time, but the conservative ones did slightly better.

FMT 35/40/be@20 + 85
Old FMT 40/40 +40
10/40 +90
28/40 +124


There's still not enough evidence to say stay away. Every pip helps!

 

[RobM.]

At 3% risk one only needs 3 clear wins in a month to clock-up an 8% monthly / 152% annual gain. 7 trades at BE+5 equates to one of those and there's still half of April to go.

There's time!

 

[Jashfx]

I've just been backtesting August 2010.
In my analysis (Errors and omissions excepted), the more aggressive settings had a bad time, but the conservative ones did slightly better.

FMT 35/40/be@20 + 85
Old FMT 40/40 +40
10/40 +90
28/40 +124


There's still not enough evidence to say stay away. Every pip helps!

Awesome -- thanks for that. Its pretty re-assuring.
Although Im not one for chopping and changing -- I think trading at your 28/40 or a more conservative FMT 30/40/be@20 is the way to go for August. However what ever one chooses should be consistant for the entire month I would say.