SL hit -45 at 1%
Mmmmmm...
Maybe you guys in the UK should think about going over to SLM. The trade sets very quickly - this morning at 1.64554 which was exactly what the FMT signal ideal price was. SLM also is only a 2 pip spread. I am still in with 45sl although it was close.
Mike
Doesnt make a difference. If we were long you would have missed tp. You will always get slighly different broker results especially if its a close call.
I have to disagree. You would be amazed what difference that 2 pip spread (as opposed to 2.5 pips) can make. Having done extensive manual back testing, I can tell you that in 2010, it made a difference of 120 pips (three trades) on the standard FMT 40/40 setting. Not a fortune I agree, but 120 pips is 120 pips! In addition, there have been two occasions in the last month where I have hit tp whilst most on this forum seem to have missed it by a whisker and ended up at BE.
I agree with you Mike, I have a demo with SLM and have been impressed with their feeds and spread, I can remember at least 3 occasions in the last 2 months that we have not been stopped out due to spread and entry prices have at times been 4 pips better than Oanda.
Thanks Podberry. But I have to laugh. Just as I was reading your post I hit sl! lol.
I have to disagree. You would be amazed what difference that 2 pip spread (as opposed to 2.5 pips) can make. Having done extensive manual back testing, I can tell you that in 2010, it made a difference of 120 pips (three trades) on the standard FMT 40/40 setting. Not a fortune I agree, but 120 pips is 120 pips! In addition, there have been two occasions in the last month where I have hit tp whilst most on this forum seem to have missed it by a whisker and ended up at BE.
I am from Canada, and I like to make wild assumptions, but what do you guys from Europe think about this theory? I believe the UK bankers make up a small percentage of the total trading of the pound worldwide. The US is by far the largest economy in the world and I am sure US bankers have their automated systems in full swing by 3am ET (8am UK time), and the rest of Europe is huge compared to the UK. So altogether, I think that the US and Europe trading of the pound far outweighs the trading of the pound by UK bankers. Conclusion: If UK bankers take a holiday, when the rest of the world does not - it should have minimal impact on pound movement. Just some wild speculation on my part, but I would like to hear your thoughts. Cheers.
Size of the economy is irrelevant in the financial transactions market. London is the worlds largest player in the currency markets and by quite a margin. Check out these links. http://www.trainingtraders.com/pres...g-performance-london-is-the-cash-capital.html and http://www.thinklondon.com/media_ce.../Sep/London_increases_forex_market_share.html
WiseAmbitions,
Remember I said, always trust a short, as they appear to be a better bet (no pun intended!) - I'm adding a caveat - never trust a UK Bank Holiday.....
Happy holidays everyone...I'm off to the beach....(for the rest of the week...)
Regards, Chris
Well said Wise; remember everyone....Rome was not built in a day...I am sure that they took off bank holidays too..lol..but Rome was built!!!!You never know what you're going to get in this camel market
You never know at 06.15 whether it's going to be a good day or one to regret!
Yes there were 10 pips to be had, even 15 today in the direction of FMT signals, but 20, 28, 35, 40 or any other such like with a SL of well over 65 would still have caused a loss.
Result from the last just 4 trades since recommendations were revised:
40/40 zero
10/40 -10
28/40 -24
35/40/BE -45
35/45/BE,plus pips etc errr -50
You have to judge these things in longer term measurement, which is why I am trying to build up an accurate database.
eg. 40/40 since 1/1/2010 is plus 2360 ! ! ! ! !
This time next year we'll all be millionaires (only the ones who stick to the system!)