ForexMorningTrade System

[deserteagle]

Hi Deserteagle, as I have excel 2003 I cannot open your file. Would you mind attaching a copy saved as excel 2003 if that is possible. Appreciate it

Hi Mgarry, I'm affraid that is not possible, in that sheet I use functionality only available in excel 2007, anyway I think you could try it with an excel 2007 viewer.
Cheers.

No Trade today - Alpari UK

 

[Jashfx]

Cheers deserteagle - Hammy/Marks settings look good.

One bonus is if there is a marginal No Trade at 06H15 then we could always take another trade at 06H30, gives us more options, I can't wait to get the old forex cash register ticking over again.:cheers:

I was thinking the same thing. We often saw the indicators change to match each other at last second or 1 or 2 minutes before 06:30am candle closed and it often ended up being a winner (from what I can recall anyway).

So going forward will be interesting to note the % of winners of the 06:30 candle only when 06:15 gives a NT and 06:30 gives a signal to trade.

 

[podberry]

I was thinking the same thing. We often saw the indicators change to match each other at last second or 1 or 2 minutes before 06:30am candle closed and it often ended up being a winner (from what I can recall anyway).

So going forward will be interesting to note the % of winners of the 06:30 candle only when 06:15 gives a NT and 06:30 gives a signal to trade.

Agreed Jashfx, great minds think alike If there is a No Trade at 06H15 and we get a signal at 06H30, we could always manually T/P if it runs out of steam like it has done recently, even if you get 10 pips it's better than nothing on a No Trade :smart:

 

[Geoff135]

Hi Mgarry, I'm affraid that is not possible, in that sheet I use functionality only available in excel 2007, anyway I think you could try it with an excel 2007 viewer.
Cheers.

No Trade today - Alpari UK

Try Page 938...Post # 7498

 

[lumbco]

19th April
All times Alpari UK

Old FMT settings (40,35,20,5) with Hammy66 timings on live Alpari UK account, result today:
07:15 NT
07:30 NT
07:45 NT

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

 

[lumbco]

Can anyone help as we are quiet today?

I went with the new settings this morning for my EA on SLM and all seemed fine. I then noticed that my blue column hadn't adjusted to the new settings? I checked my EA all correct and I had updated my template. So I tried looking at the indicator list. Every time I try to open the indicator list (right click or drop down menu) the program freezes and I have to use Program Manager to close it? All other tools seem fine bar this!

Any thoughts much appreciated?

Thanks

Chris

Right click on a blank area of the chart.
Left click on "Indicators List" (third item down on mine)
Double click on the yellow box labelled "FxMorningTrade"
Adjust the "Begin Time" and "End Time" to match your trading time
Left click "OK"
Left click "Close"


The end time does not matter very much, in this context it only serves to make the blue band as wide as you like in order to aid visibility.

The "Begin Time" is the important one.

Good Luck

 

[Tenapenny]

Hi Deserteagle, as I have excel 2003 I cannot open your file. Would you mind attaching a copy saved as excel 2003 if that is possible. Appreciate it

Update 2003 here http://www.microsoft.com/downloads/...70-3AE9-4AEE-8F43-C6BB74CD1466&displaylang=en

 

[trader578]

Hello All,
I am an original FMTer. I bought the system in Sept 2010. I don't see the benefit of moving the stop loss to 45. I am keeping it at 40. Don't much care about backtests because they have their limitations. I will be sticking to 40SL. In fact, I am sticking to 40TP also because I have seldom seen a live trade at 35 TP that did not reach 40 TP. Good luck all.

 

[GumRai]

Hi Mgarry, I'm affraid that is not possible, in that sheet I use functionality only available in excel 2007, anyway I think you could try it with an excel 2007 viewer.
Cheers.

No Trade today - Alpari UK

You can go to the Microsoft website and download an update that allows 2003 Office users to view and edit files from later versions. I think it's called Fileformatconverters or something like that

 

[shoot2scoot]

Right click on a blank area of the chart.
Left click on "Indicators List" (third item down on mine)
Double click on the yellow box labelled "FxMorningTrade"
Adjust the "Begin Time" and "End Time" to match your trading time

Good Luck

Lumbco thanks for coming back to me. My problem is that when I do what you suggest, as soon as I select 'Indicator List', the whole program freezes on me?

I've just checked my Alpari account and that's fine so I guess i will have to reinstal SLM!

Not sure how many of you accepted the Meta Trader updates yesterday to V.4 build 399, but that is when my problem started and it is limited to the selection of 'Indicator List' from the 'right click' drop down menu. Hope none of you are affected?

Cheers

Chris

 

[Big L]

Hi Traders

Im new to this system and only purchased it last night, i used to trade a couple years back but stopped because my working hours changed. I just have 2 quick questions,

Firstly will i lose out by much due to the fact that i cant move to break Even as i wont be watching the charts

Secondly i noticed that when i looked back at the forum for todays messages traders were stating that there was no trades today at around 05:47am this morning UK time but i thought it wasnt until 06:15am UK that we check the chart???????

(i may end up answering the second question my self if when i post this message it states the time as 1 hour earlier than it actually is in the UK

Many thanks

 

[Big L]

And there you have it, the forum said i posted the message @ 08:44am when it was 09:44am. So ignore the second question, lol

Many thanks

 

[Tenapenny]

And there you have it, the forum said i posted the message @ 08:44am when it was 09:44am. So ignore the second question, lol

Many thanks

Why not use the ea in answer to question 1.

 

[aspex]

Hi Mgarry, I'm affraid that is not possible, in that sheet I use functionality only available in excel 2007, anyway I think you could try it with an excel 2007 viewer.
Cheers.

No Trade today - Alpari UK

FWIW free open source products like OpenOffice will always do the job.
:smart:

 

[ktyong]

@deserteagle, will you trade at 6:15am or 6:30am? i am following the deserteagle II and sticking to 6:30am entry. have you compare 6:15 amd 6:30 results based on deserteagle II?

thanks

 

[lumbco]

Lumbco thanks for coming back to me. My problem is that when I do what you suggest, as soon as I select 'Indicator List', the whole program freezes on me?

I've just checked my Alpari account and that's fine so I guess i will have to reinstal SLM!

Not sure how many of you accepted the Meta Trader updates yesterday to V.4 build 399, but that is when my problem started and it is limited to the selection of 'Indicator List' from the 'right click' drop down menu. Hope none of you are affected?

Cheers

Chris

Must be a problem with your upgrade.

All my live and demo accounts are build 229 dated Nov 2010. I have not been offered MT updates recently. The jump to build 339 seems huge, think you should check with your platform supplier.

 

[RobM.]

Rob -- Im also trying to get to grips with this as Im pretty new to the SLM spreadbetting platform as oppose to other Forex platforms.

Ok -- so this is what i noticed last week when i placed a demo trade £10 000 balance and at a risk of 8% per trade. The EA took me in at a trade size of 20.00 (forget about lots and mini lots). This relates to Forex Trading and not spread betting.

Yes if your account is $10 177 and you are with Alpari UK then you would want to set the inputs tab at 3.56 becuase it trades at $10 per pip when traded as lots.

However, Spreadbetting trades at £1 per pip tradding at 1.0 (its not a standard lot or a minilot),its a spreadbet lot. So if you are risking 14% of £10 177, you need to be trading at 35.6 Spreadbetting trading lots.
35.6*40= £1,424.78 which is 14% of £10 177.
It seems to me that if your from the various conversations going on that on SLM -- even with MM set =true, your Max lots need to be higher than the risk you want to trade.

I am pretty sure im right about this purely cause i was playing around on thursday night on demo just manually taking trades and trying to figure out various things and what i found was
FX trading (in $) 0.1 (1 mini lot) trades at $1 per pip or 1.0 (1 std lot) trades at $10 per pip/tick whereas:
1.00(lets call it a spreadbetting lot) trades at £1 per pip/tick and
0.10(lets call it a spreadbetting mini lot) trades at 10p or £0.10 per pip/tick.

Jashfx (cc: Podberry)

I took another look at SLM with FMT EA last night.

As far as I can see, Jashfx, what you say above is correct and it is very useful that you use the term ‘spread-betting lot’.

As far as I can see, though, MM will not work:

The long and short of your correct assessment is that a spread-betting lot is, essentially, a normally calculated mini-lot. Eg: 14% risk of 10,177 is 1424.78 divided by (old) SL40 is 35.6 mini-lots. This is the spread-betting lot.

The EAs MM will calculate this as 3.56 lots and SLM will accept it as 3.6 lots, as it is essentially 1dp. The whole figure is therefore too small by a factor of 10 when calculated by MM.

I think that, in the above example:

MM: should be false
Lots: should be 35.6
Maximum Lots: should be always greater than Lots
Compounding: Needs to be done manually.


Another question I have, as this is a BET on price movement and not a TRADE, is what happens if one wants to close out early? Is this not potentially like changing the horse on which one has placed a bet, after the race has started?

 

[Tenapenny]

Jashfx (cc: Podberry)

I took another look at SLM with FMT EA last night.

As far as I can see, Jashfx, what you say above is correct and it is very useful that you use the term ‘spread-betting lot’.

As far as I can see, though, MM will not work:

The long and short of your correct assessment is that a spread-betting lot is, essentially, a normally calculated mini-lot. Eg: 14% risk of 10,177 is 1424.78 divided by (old) SL40 is 35.6 mini-lots. This is the spread-betting lot.

The EAs MM will calculate this as 3.56 lots and SLM will accept it as 3.6 lots, as it is essentially 1dp. The whole figure is therefore too small by a factor of 10 when calculated by MM.

I think that, in the above example:

MM: should be false
Lots: should be 35.6
Maximum Lots: should be always greater than Lots
Compounding: Needs to be done manually.


Another question I have, as this is a BET on price movement and not a TRADE, is what happens if one wants to close out early? Is this not potentially like changing the horse on which one has placed a bet, after the race has started?

You can close the trade from the order box at the bottom of the page. Double click your chosen trade then you can modify or close.

 

[deserteagle]

@deserteagle, will you trade at 6:15am or 6:30am? i am following the deserteagle II and sticking to 6:30am entry. have you compare 6:15 amd 6:30 results based on deserteagle II?

thanks

Hi, good question, I'm affraid I can not give you a final answer yet, but I can tell you I'm going to trade 6:15. Hammy 6:15 set has better results than the sets I tried at 6:30. I just compared the sets I have posted yesterday in the excel file.

Currently I have already started an analysis at 6:15, the goal is checking if there is some set than can improve the incredible performance of Hammy 6:15.

A good idea which was already commented, is having two chances to enter at the market, if 6:15 is No Trade, you can try at 6:30, or maybe you prefer to try both entries anyway.

I think I will spend some days on my analysis to know what I'm going to do.

The good point of this issue, we have to make a choice among just good things.

I FMT.

 

[Jashfx]

Jashfx (cc: Podberry)

I took another look at SLM with FMT EA last night.

As far as I can see, Jashfx, what you say above is correct and it is very useful that you use the term ‘spread-betting lot’.

As far as I can see, though, MM will not work:

The long and short of your correct assessment is that a spread-betting lot is, essentially, a normally calculated mini-lot. Eg: 14% risk of 10,177 is 1424.78 divided by (old) SL40 is 35.6 mini-lots. This is the spread-betting lot.

The EAs MM will calculate this as 3.56 lots and SLM will accept it as 3.6 lots, as it is essentially 1dp. The whole figure is therefore too small by a factor of 10 when calculated by MM.

I think that, in the above example:

MM: should be false
Lots: should be 35.6
Maximum Lots: should be always greater than Lots
Compounding: Needs to be done manually.


Another question I have, as this is a BET on price movement and not a TRADE, is what happens if one wants to close out early? Is this not potentially like changing the horse on which one has placed a bet, after the race has started?

Perhaps one should use mm=false and compound manually but i cant say for sure that it wont compute it correctly (somebody who uses the spreadbetting SLM acccuont live would have to comment) cause when the trade (on demo) I placed last week -- it traded at the correct risk 8%. Starting Balance was £10 000 and it placed a trade at 20.00. It went on to hit TP and made £200. Im pretty sure i had it set to mm = true. But on Friday i opened up a live account with SLM -- just to try out the 10/40 rule with no B/E.

Was not taken into trade yesterday, but that is down to my own stupidity because changing from demo account to live account changed the settings on the platform of EA's and unchecked allow live trading. And today was a NO TRADE so I still dont know weather i have it correct or not but I think I do.

Nope its not like changing your horse. You bet on your hourse and your horse alone. It does not matter if first or last your horse just needs to cross the finish line. Ie; you betting on meters gained by the horse and should it reach finish line you take your full profit so just same as trading really. You cannot switch from GBPUSD(one horse) to EURUSD(another horse) becuase you in a buy and all of a sudden the GU starts to fall but the EU is rising.