ForexMorningTrade System

[coral]

Just noticed my ea entries were delayed by 1 minute today. The 6:15 setting entered at 6:16 and the 6:30 setting entered at 6:31. Never had this problem before with GoMarkets. Anyone else have this problem?

My entry times have been perfect so far on this system with GoMarkets. No clue what's going on, except maybe local computer time?

 

[lumbco]

18th April
All times Alpari UK

Old FMT settings (40,35,20,5) 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 TP
07:45 TP

 

[busfarehome]

I have emailed mark twice about not getting his updates but stioll am not getting them.
His email address is in my safe senders.

What are the new settings?

I am currently using 40SL 35TP and 20 BE.

 

[coral]

I have emailed mark twice about not getting his updates but stioll am not getting them.
His email address is in my safe senders.

What are the new settings?

I am currently using 40SL 35TP and 20 BE.

Marc is switching to 06:15 UK time starting tomorrow with 45SL 35TP 25BE 5BE Add pips. Good luck.

 

[admingre]

I'm contemplating getting Turbo Morning Trade. Is anyone using it and can recommend it?

 

[busfarehome]

Marc is switching to 06:15 UK time starting tomorrow with 45SL 35TP 25BE 5BE Add pips. Good luck.

Thanks a lot Coral.

 

[billcurry]

I'm not sure if it was posted already, but Marc sent out a newsletter this morning with updated recommended settings:

Hi ,

here's my ocassional newsletter, now with an important change of trading
settings for Forex Morning Trade system.
But first of all..

-----------------------------------------------
Results for the last three months
-----------------------------------------------

Just to quickly summarize the results we had in the previous months. The system
was running exceptionally well, we made around 10% to the account on
both February and March.

April is so far around zero, there were too many break evens.

You can check my trading journal for all these months here:
http://www.forexmorningtrade.com/trading-journal/


-----------------------------------------------
Important - Change of FMT trading settings
-----------------------------------------------

I'm updating the settings I use and recommend for trading both Forex Morning Trade and Turbo Morning Trade.

The new recommended settings:
- enter trade at 6:15 UK time (15 minutes earlier than now)
- StopLossPips = 45 pips (from 40 pips)
- BreakEvenAtPipsProfit = 25 pips (from 20 pips)
- BreakEvenAddPips = 5 pips (from 0 pips)

All the other values remain intact. These new settings are valid for both FMT and Turbo version
and I'm going to use then starting tomorrow (19th April).

What is the reason for these changes?
Simply better profitability. These settings work better for the last years (2010 and 2011) than my original settings.

What's the difference in profitability?
These new settings show around 20-30% better performance than the old ones since 2010.

Cons:
- By using SL 45 and PT 35 we will further decrease the risk-reward ratio from the "ideal" 1:1.
That's the only slight drawback, but it is compensated by increased profitability.

- The tests before 2010 show better profitability of the original settings.
But that's normal, market evolves intime and we should evolve our trading too.
In my opinion the results for more than a year are sufficient enough to justify this change.


The credits for these improved settings don't go to me, but to Hammy from Donnaforex forum.
If you don't know about it, there's a quite active thread about FMT on Donnaforex:
http://www.donnaforex.com/forum/index.php?topic=2620.0

Hammy's rules actually place three trades, at 6:15, 6:30 and 6:45, with the same settings mentioned above.
My tests show that 6:15 is the best from these times, so I don't see a big reason to split our money to three trades.

------

Best regards,

Mark Fric

Grats go to Hammy for coming up with these new settings!

 

[rajgogna]

I'm contemplating getting Turbo Morning Trade. Is anyone using it and can recommend it?

Hi

Check out the forum thread for turbo morning trade, which may help you

http://www.trade2win.com/boards/forex-strategies-systems/110666-turbo-morning-trade-ea.html

 

[biggreycat]

hammy, yr officially famous now! and yr settings are no longer hammy settings but official fmt settings! heh

 

[3PO]

Make that 45SL though...

Old habits an' all that...!

Thanks, I have almost forgot it and left at 40 pips...

Regards, 3PO

 

[Remraf]

hammy, yr officially famous now! and yr settings are no longer hammy settings but official fmt settings! heh

Couldn't agree more! - I've been using Hammy's original settings on my demo account with great success - 6.15 has always been more a better TP than 6.30, more so in recent weeks. :clap:

 

[joke]

Couldn't agree more! - I've been using Hammy's original settings on my demo account with great success - 6.15 has always been more a better TP than 6.30, more so in recent weeks. :clap:

I would like to echo the sentiments of my fellow traders, thanks to Hammy and all your research!!, but also to Mark, Wise Ambitions and Desert Eagle ,who all have contributed to this forum. I believe they have made us all a little more wiser in our trading. This is also proof that the market changes and individuals that change with it, are the ones that prosper!!! God bless.

 

[podberry]

Well done Hammy, seems like 'You're the man' :clap:

 

[Jashfx]

Re:

Yip -- I concurr with recent posts. Thanks Hammy. I give you an A+:smart:

Infact I give a bunch of folk on here an A+. Its a great forum.

 

[chiprec]

I would like to echo the sentiments of my fellow traders, thanks to Hammy and all your research!!, but also to Mark, Wise Ambitions and Desert Eagle ,who all have contributed to this forum. I believe they have made us all a little more wiser in our trading. This is also proof that the market changes and individuals that change with it, are the ones that prosper!!! God bless.

Great inputs by all concerned, much appreciated .Feel privileged to be part of this thread.
Thanks again

 

[Krimles]

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

6:15 start, short signal, hit TP +36 pips
6:30 start, short signal, hit TP +35 pips
6:45 start, short signal, hit TP +33 pips

total today +104 pips..

nice start to the week !..

Hammy66 I am in canada like you so I use the EA too. Probably a dumb question, but how do you do 3 time starts using the EA. Do you run 3 instances of the EA on one chart with different magic numbers or do you run 3 separate charts?

Also, I don't understand the extra 5 pips on the BE. Would appreciate an explanation?

Thanks.

 

[hammy66]

Re:

Yip -- I concurr with recent posts. Thanks Hammy. I give you an A+:smart:

Infact a give a bunch of folk on here an A+. Its a great forum.

Thanks ! you are right, this is a great forum , lots of help from experienced traders who are kind enough to share their knowledge.

Thanks to Mark Fric for sharing this brilliant system and EA for FMT. and great support.

Folks, I just trade my settings and put my results here every day with the settings, no secrets, you can see the results , good or bad. You can decide if you want to use them or not, there was nothing wrong with Mark's old default settings, I used them at the launch of FMT the EA, but through forward testing found my settings to be a little better for now, if the market changes, then I may tweak them a little again. They have worked very well the past 6 weeks. The 3 different start times are not for everyone, but I like the options it gives for different entry prices and all 3 times are productive, if one of the start times starts losing then I will drop it, like I did with 6:45 awhile back, but now it is fine again. To be honest, I still think 6:30 is as good as 6:15 start time but they are very similar at entry price usually. The 6:45 sometimes gives me a profit when the other times hit BE. If you use my settings, you will do very well, I believe that ! Good luck to all that decide to use them...

cheers !..:cheesy:

 

[lumbco]

I really don't know why the EA creator has changed his settings. This is a reactive move based on short term results. What will he do when 6:30 starts working again change back?

I've lost faith in the longetivy of this system.

Cobber, I don't know if you are a new trader or not, but clearly you have not read the 1000+ contributions to this thread. I would venture to say that nearly 100% of the readers of this thread trust Mark's judgment. THe real worth of any trading system is the ability to change with changing market conditions. This is now what we have.

Many of us put real money on Mark's effotts and we have made significant profits from his EA. As to his continuing guidance and support, I for one cannot thank him enough for his patient toleration for the gratuitous insults that he receives.

In due course, even though you are a cobber, you may begin to appreciate the significant contribution he has made to the wealth of many aspiring traders.

 

[3PO]

I was wondering is it good to increase the risk to take after a win or decrease after a loss or is it better to use always the same risk e.g. 2% of the capital?
Is it not recommended to trade on bank holidays (this week Good Friday, next week easter and the Roal Wedding) or we just have be disciplined an trade day after day? I have not found any restriction on it in the manual.
I trust this system and I am convinced that it has the edge to be profitable. Actually I have a bet that in the next three Month using this EA I can beat the Bank of England interest rate.

3PO

 

[jaming]

hi fellow escape artists,

Many thanks to Mark Fric and Hammy for the timely new settings. Lately, these BEs were starting to eat into my profits with the slippage and commissions. (finfx). It's empirically evident that market conditions change over time, and the greatest things here are that first of all, this recent environment has provided new opportunities to gain some experience and learn while trusting in TMT to keep this tuition at an absolute minimum. Secondly, the comradery of fellow escapees helping each other is really awesome!
Happy trading...