ForexMorningTrade System

[Elovv]

Hi all and a happy Easter!!
I have asked this before, Im curious how You use the TP and SL functions.
Do You use Hide SL and TP? Maybe more slippage?
Do You use Brooker SL and TP? Maybee no slippage but brooker can hunt SL and TP.
I have always used Brooker sl and tp for avoid slippage (hidesl=brookersl in settings).
Im curios about how others do with SL and TP. Do You hide them if its possible?

Regards
Elovv

 

[Euro_d]

Hi all and a happy Easter!!
I have asked this before, Im curious how You use the TP and SL functions.
Do You use Hide SL and TP? Maybe more slippage?
Do You use Brooker SL and TP? Maybee no slippage but brooker can hunt SL and TP.
I have always used Brooker sl and tp for avoid slippage (hidesl=brookersl in settings).
Im curios about how others do with SL and TP. Do You hide them if its possible?

Regards
Elovv

This has been addressed previously. However, there is not consensus.
In my opinion, provided you have a good broker, I do not use hidden SL TP.
The reason is simply that if I suffer a connection loss, then I am protected. Also, in theory, in rapidly moving markets, fills should be quicker.

I do not believe that, at the level most of us are probably trading, there is any broker conspiricy to trade against us.

However, very much a personal choice.

 

[Jashfx]

Hi all and a happy Easter!!
I have asked this before, Im curious how You use the TP and SL functions.
Do You use Hide SL and TP? Maybe more slippage?
Do You use Brooker SL and TP? Maybee no slippage but brooker can hunt SL and TP.
I have always used Brooker sl and tp for avoid slippage (hidesl=brookersl in settings).
Im curios about how others do with SL and TP. Do You hide them if its possible?

Regards
Elovv

Personally what i have recently started doing is not hiding SL (so as to avoid slippage=--as its usually not in your favour) but hiding TP (so as to take advantage of slippage-- as its usually in your favour)

 

[trade.extra]

7:15 TP +20
7:30 TP +20
7:45 TP +20

Happy Easter and holidays!!!

 

[RobM.]

Ditto re RR ratio, but at 90%+ just got to be worth it!

Like you, I have not changed to the 6-15 start and have an open mind.
Logic says we should, as if FMT is better surely FMT scalping is better.

Would love to hear our friend and Guru WiseAmbitions take on this.

I'm trading 10/40 at 0615 now.

I think it will score a hit at either time!

 

[lumbco]

Personally what i have recently started doing is not hiding SL (so as to avoid slippage=--as its usually not in your favour) but hiding TP (so as to take advantage of slippage-- as its usually in your favour)

Good tip Jashfx, I have now changed my hidden settings to match yours.

 

[Remraf]

Im only talking about the 10/40 strategy where im not sure of time of entry.

The New updated version of FMT(35,45,25,5) -- I have no hesitation to change time of entry.

I have been using the 10/40 trade in recent days, at no particular time, but between 6.15 and 7.00 manual entry time when all the indicators and MA's/PSAR are a clear direction and when the candles start to move with increased activity as that when you get the quick move and pick up the +10, worked it this morning twice, so with FMT 6.15 start running as well, also got the +35!
Also, I still run Hammy66's original triple entry time 55/35/25+5 on my demo account - today was yet another +35 x3 day! - SL's have been very low and those that don't quite make TP get you BE+5 - still impressed with this set Hammy

 

[wiseambitions]

Ditto re RR ratio, but at 90%+ just got to be worth it!

Like you, I have not changed to the 6-15 start and have an open mind.
Logic says we should, as if FMT is better surely FMT scalping is better.

Would love to hear our friend and Guru WiseAmbitions take on this.

Thanks. Yes, 10/40 is one of those sets that often manages to win just from the noise in the market, even over bad patches like Christmas it didn't do too badly.

I'm convinced 06.15 is better than 06.30. The work I did on timing related mainly to the summer of 2010, and I found 06.10, 15 and 20 to be better generally than 6.30.
Currently I'm splitting my trades in 2, but might at some future stage divide them further, just for safety's sake. One reason is it gives you some staggering to your SL and TP exit numbers and I also think that's a good idea even for the same number of pips gain on each exit point. Also it might avoid or reduce slippage

 

[barebud]

Anyone running live accounts with balances of 20K or more? Am wondering what the liquidity/slippage factors would be like at that level?

 

[wiseambitions]

Ditto re RR ratio, but at 90%+ just got to be worth it!

Like you, I have not changed to the 6-15 start and have an open mind.
Logic says we should, as if FMT is better surely FMT scalping is better.

Would love to hear our friend and Guru WiseAmbitions take on this.

Thanks. Yes, 10/40 is one of those sets that often manages to win just from the noise in the market, even over bad patches like Christmas it didn't do too badly.

I'm convinced 06.15 is better than 06.30. The work I did on timing related mainly to the summer of 2010, and I found 06.10, 15 and 20 to be better generally than 6.30.
Currently I'm splitting my trades in 2, but might at some future stage divide them further, just for safety's sake. One reason is it gives you some staggering to your SL and TP exit numbers and I also think that's a good idea even for the same number of pips gain on each exit point. Also it might avoid or reduce slippage

 

[wiseambitions]

Anyone running live accounts with balances of 20K or more? Am wondering what the liquidity/slippage factors would be like at that level?

At 06.00 to 07.00 starts, not a problem, but if you try trading say 20 lots or more much before then I find my broker can't give instant execution and it goes round for quotes and offers me a deal with a few seconds to accept or reject. No good for EAs!

 

[barebud]

At 06.00 to 07.00 starts, not a problem, but if you try trading say 20 lots or more much before then I find my broker can't give instant execution and it goes round for quotes and offers me a deal with a few seconds to accept or reject. No good for EAs!

Thanks... what happens with the EA when a requote is given, is the trade automatically discarded?

 

[wiseambitions]

Hi Wiseambitions,

You probably missed this one in the flurry of posts this thread has seen. Would be grateful for your response.

thanks,

mcclaine

Sorry it's not an official thing at all, but I have noticed that when one indicator goes above 200 (-ve or +ve) the price often retraces, so I take it as a bit of a warning

 

[billcurry]

NT for all three times today What'd the deal? Broker is TadawulFX.

Also, should the long candle filter be disabled for 6:30 and 6:45?

 

[wiseambitions]

Results for Year To Date to 21/4/2011

40/40 +600
28/40 +552
35/40/BE@20 +500
10/40 +410

Last 200 trades (just over exactly 12 months)
40/40 +2080
28/40 +1996
35/40/BE +1850
10/40 +1350

 

[turboonostrilvision]

anyone seeing the message: "Error: cannot open trade, context is permanently busy" ?

my today signal was : error 146, trade contest is busy on fmt 4.2
and long on old fmt 3.5 with blue strip both on mt4 demo

 

[tkbieber]

It's interesting that there seems to be some hesitation to change to the new settings.

I feel it too; as a non-trader, I bought the system to benefit from other's experience, ie Mark's. Now there is a change from the original settings I feel like I'm moving out of a comfort zone.

However, I trust Mark's integrity and for me, if he's happy I am happy. There certainly isn't a 'best set', only, perhaps, a 'good-enough' set.

I think the message from Wiseambitions' video link is timely.

I'd welcome some discussion....

In the back testing that I have done and with the settings I use, 6:15 or 6:30 are about the same. I choose to stick with 6:30.

Up 11% for the week so far and 41% for the last almost full month of forward trading. One more day to make it official. :clap:

 

[3PO]

NT for all three times today What'd the deal? Broker is TadawulFX.

Also, should the long candle filter be disabled for 6:30 and 6:45?

Hi,

I am also at Tadawul FX and my EA worked well and hit tp +35 pips.

3PO

 

[rkinman]

Anyone running live accounts with balances of 20K or more? Am wondering what the liquidity/slippage factors would be like at that level?

I'm running on a 10k and it's .5 lots with 2%. Not a big deal for a broker. Now if you trade even lots, the fills are faster. Because the broker can add two other orders to make yours much faster. Or that's what my agent tells me. On a 20k you be trading about 1lot. That my friend is the fastest fill in my opinion! The micro lot is also something that slows fills. I don't care what number it is. So I stick with one decimal to keep my ecn flowing better. Plus it's why they only offer one decimal

 

[texastrooper]

Finally, full TP. I shouldn't complain, only 1 loss this week. Using the new settings Mark sent. I'm gonna trade Friday, is anybody else? If I had a good reason not to trade I could be talked out of it.
Happy Easter all.