ForexMorningTrade System

[wiseambitions]

I'm now losing money with FMT....

In short term measurements I might agree, but in the longer term I'm substantially richer

If you trawl back through the posts on the forum today and on other occasions where there have been bad weeks you'll notice that most of the people who express dissatisfaction are newbies and junior members. Those of us who have given the system chance to work for us are doing far better than any deposit account or collective investment that's available.

Look at the numbers I've put up recently and think how much you'd be able to benefit from the 1000 pips this thing has produced since last summer. When you trade every morning you don't know whether it's going to be a good day or a bad one, and you just have to follow the rules and probability is on your side.

We'd have had exactly the same discontent in the forum if it was running 12, 24,36,48 months ago, yet behind the scenes some people would have been raking it in, because they follow the rules and are careful with their money management.

 

[andybissell]

I'm not gonna just give up so we will see but atm I have no confidence.

 

[bearstar7]

Come one on party people lets have this chat at the end of the month and see if your still loosing money

All hail FMT

 

[bearstar7]

let me re phrase that with spell check Come on on party people lets have this chat at the end of the month and see if your still loosing money

All hail FMT .... hehehehe

 

[GumRai]

let me re phrase that with spell check Come on on party people lets have this chat at the end of the month and see if your still loosing money

All hail FMT .... hehehehe

Spell check still left loosing when it should be losing don't trust the spellcheck too much

 

[podberry]

Well Paul, now that you are here, welcome. I would suggest you and your team get to the bottom of this pronto as we are losing faith quickly in terms of SML. We are all lined up to give negative reviews about your company when it is posted on Forexpeacearmy shortly. This I'm sure will have a detrimental effect. If it was my company I would be pulling my finger out and flying in some wizzkids from Russia to sort this mess out. IT IS NOT THE EA GIVING PROBLEMS, IT IS SMART LIVE MARKETS 100%

 

[bearstar7]

Nice this is why I don't Manually trade ! :idea:

 

[Euro_d]

06:15 entries (LIVE)
45/35/25/5 -45 (Alpari UK)
40/30/25/5 -40 (SLM)

06:30 (LIVE)
40/10 -40 (SLM) (missed Tp by 0.2 pips -- was 9.8 pips in profit). OUCH

on Alpari UK live, I did not get near the TP10 on a 6-30 trade!

I for one am not even close to losing confidence, as someone said earlier, I treat this as a business start up investment.

Yes, I have easily paid for my initial investment many times over.

 

[wiseambitions]

on Alpari UK live, I did not get near the TP10 on a 6-30 trade!

I for one am not even close to losing confidence, as someone said earlier, I treat this as a business start up investment.

Yes, I have easily paid for my initial investment many times over.

I shared a youtube video 3 or 4 weeks ago from an excellent speaker in which it was said

1) Some of the most successful traders have a winning rate of no more than 60/65%

2) Successful traders have a system, and they know they've won the game before they've even started.

3) Losing sometimes is all part of the game.

Until I get 10 losers in the next 15 trades my confidence in FMT is still very high too and I must stick to the rules and not let my own analysis and emotion get in my way.

Remember the market is nearly always in balance, which means one trader sees the opportunity as a short and another sees it as a long, and both think they are smart!

 

[Jashfx]

on Alpari UK live, I did not get near the TP10 on a 6-30 trade!

I for one am not even close to losing confidence, as someone said earlier, I treat this as a business start up investment.

Yes, I have easily paid for my initial investment many times over.

ON SLM neither 06:15 or 06:30 would have been a winner on 40/10 (Price was pretty much the same entry

Just had a look at 06:30 on my Alpari UK live and yes I concurr did not even come close.
06:15 I think would of been a loser too on Alpari UK (if spread was taken into account).

However someone did say they got there 10 pips today so somewhere a broker did give it. Im glad the 06:30 kept me out yesterday. One 40/10 loss is not nice (but has to be accepted) but 2 in a row -- OUCH!!!!!

 

[Big L]

I'm not gonna just give up so we will see but atm I have no confidence.

I got lucky today as i didnt trade, because i could see that there was News on the GBP.

So i still have faith in the FMT but lets be honest trying to use a system on a day when there in News on a currency pair is just GAMBLING.

I think FMT works about 75% of the time on a normal trading day, but a day like today the Market only changed direction because of the News, and i dont think its possible to have a system that can tell you what way the market is going to move on News Days

http://www.dailyfx.com/calendar/

on the link above i dont Trade the GBP if i see that the Importance level is High, when the News is Medium i reduce the amount i trade with.

Obviously it means sometimes i stay out of a Trading Day that i could have hit TP but on days like today makes me Smile for being Disciplined

Good Luck with the rest of the month

Big L

 

[mike1booth]

Hello

We are aware that some clients are experiencing fills from their EAs one minute later than expected, being at 0616 or 0631 BST.

We have looked into this at great length, and are still doing so. Meta Quotes have also helped us establish the fact, as we first thought, that this is nothing to do with us.

But that said, we are still trying to help find the solution. We have liaised with the writers of the EAs who have so far not been forthcoming.

I spoke with one client who had the same problem last week and today on an Alpari demo account, so there is something going on.

It is very easy for people to assume it must be our fault. MT4 servers can process hundreds of trades every second, so even if we were inundated then fills would be a second late, not a minute, and we can tell this is not the issue in any case.

The EAs are not triggering the orders until a minute late in some cases. Why this has suddenly started to happen is strange, but this is definitely the EAs. There may be some kind of conflict with the EA and the latest version (build 399) of MT4. We are trying to help our clients and find out.

But as I will always say, we are not responsible for third party software that you buy and run on your terminal. But that said we are trying to be as helpful as we can.

Regards

Paul
SLM

Thank you for coming on this forum Paul. At least it shows willingness.

However, your insistence that the problem is the FMT EA is wearing very thin. As you can see, we have had situations where some are now attempting manual trades but still having problems at 6.15am and 6.30am. It is not true to say that the EA is not triggering the orders. Here (and this is a typical log in the last week) is the log from my SLM platform experts folder this morning:

2011.05.11 06:30:00 MorningTrade_EA_1.0 GBPUSDSB,M15: 2011.05.11 07:30 Sending order, price: 1.63552000, SL: 1.63902000, PT: 1.63102000, Lots: 10.10000000, Magic: 12345, Comment: FMT
2011.05.11 06:30:10 stdlib GBPUSDSB,M15: loaded successfully

2011.05.11 06:30:10 MorningTrade_EA_1.0 GBPUSDSB,M15: 2011.05.11 07:30 Error opening order: 6 : no connection with trade server

2011.05.11 06:30:12 MorningTrade_EA_1.0 GBPUSDSB,M15: 2011.05.11 07:30 Opening trade, count: 2
2011.05.11 06:30:12 MorningTrade_EA_1.0 GBPUSDSB,M15: 2011.05.11 07:30 Trade allowed, opening
2011.05.11 06:30:12 MorningTrade_EA_1.0 GBPUSDSB,M15: 2011.05.11 07:30 Sending order, price: 1.63510000, SL: 1.63860000, PT: 1.63060000, Lots: 10.10000000, Magic: 12345, Comment: FMT

That “No connection with trade server” error has been happening every day since last Monday – 2nd May, previous to that (with the same EA) everything was fine. As you can see, that delay today cost me 4.2 pips on price at the first attempt.

What changed at SLM on the weekend prior to May 2nd 2011?

Clients using other brokers with the same EA are not having this problem and your persistence in the “not our fault” line just doesn’t hold water.

As you can see from comments on this forum, there are many of your clients who are now wishing to close their accounts with SLM. Not sure that causes you concern Paul, but it should.

Mike

 

[mike1booth]

I'm not gonna just give up so we will see but atm I have no confidence.

I would urge FMT’ers not to get despondent and am going to put my 2 penneth in to try and help.

I have been trading quite a while but am relatively new to FMT. I did tests during February and missed a really good month, (oh that hindsight!) then opened a small account in early March, and then decided to go for it, opening a larger account and going live with that account in mid March. First trade was a loser taking my account into a minus, but the next two were winners taking it back in credit. It has not seen a negative balance since. Since then, despite April being a miserable month, my account now stands at + 16% and am approaching the 2nd month anniversary. If anyone can tell me another investment that can come close to 8% / month, I would be interested to know.

This system works. Stick with it. If you are nervous, lower your Money Management to what you can afford to lose, use the EA and don’t watch the screen. That takes the pressure off.

Hope that’s helpful.

Mike

 

[Euro_d]

However someone did say they got there 10 pips today so somewhere a broker did give it. Im glad the 06:30 kept me out yesterday. One 40/10 loss is not nice (but has to be accepted) but 2 in a row -- OUCH!!!!!

then say ouch for me!!

Not telling how many lots but 2 x -40 x 2 days (FMT std plus FMT scalp)

It is my loan that I will get back with significant interest!

 

[wiseambitions]

I would urge FMT’ers not to get despondent and am going to put my 2 penneth in to try and help.

I have been trading quite a while but am relatively new to FMT. I did tests during February and missed a really good month, (oh that hindsight!) then opened a small account in early March, and then decided to go for it, opening a larger account and going live with that account in mid March. First trade was a loser taking my account into a minus, but the next two were winners taking it back in credit. It has not seen a negative balance since. Since then, despite April being a miserable month, my account now stands at + 16% and am approaching the 2nd month anniversary. If anyone can tell me another investment that can come close to 8% / month, I would be interested to know.

This system works. Stick with it. If you are nervous, lower your Money Management to what you can afford to lose, use the EA and don’t watch the screen. That takes the pressure off.

Hope that’s helpful.

Mike

OK This is the justification.

If this day last year you invested 10k, and traded it according to FMT signals 40sl/40tp, and at 5% risk per trade, rolled up, it would now have multiplied by more than 7.

Go to trustnet or morningstar or lipper, which are companies who monitor the performance of unit trusts, OEICS, life funds, ETFs and leveraged products, and I don't think you'll find anything which comes near to 600pc growth in 12m

the 6 fold increase was done out of 1800 pips, in 191 trades of which 62% were winners.

 

[doepi3]

Thank you for coming on this forum Paul. At least it shows willingness.

However, your insistence that the problem is the FMT EA is wearing very thin. As you can see, we have had situations where some are now attempting manual trades but still having problems at 6.15am and 6.30am. It is not true to say that the EA is not triggering the orders. Here (and this is a typical log in the last week) is the log from my SLM platform experts folder this morning:

2011.05.11 06:30:00 MorningTrade_EA_1.0 GBPUSDSB,M15: 2011.05.11 07:30 Sending order, price: 1.63552000, SL: 1.63902000, PT: 1.63102000, Lots: 10.10000000, Magic: 12345, Comment: FMT
2011.05.11 06:30:10 stdlib GBPUSDSB,M15: loaded successfully

2011.05.11 06:30:10 MorningTrade_EA_1.0 GBPUSDSB,M15: 2011.05.11 07:30 Error opening order: 6 : no connection with trade server

2011.05.11 06:30:12 MorningTrade_EA_1.0 GBPUSDSB,M15: 2011.05.11 07:30 Opening trade, count: 2
2011.05.11 06:30:12 MorningTrade_EA_1.0 GBPUSDSB,M15: 2011.05.11 07:30 Trade allowed, opening
2011.05.11 06:30:12 MorningTrade_EA_1.0 GBPUSDSB,M15: 2011.05.11 07:30 Sending order, price: 1.63510000, SL: 1.63860000, PT: 1.63060000, Lots: 10.10000000, Magic: 12345, Comment: FMT

That “No connection with trade server” error has been happening every day since last Monday – 2nd May, previous to that (with the same EA) everything was fine. As you can see, that delay today cost me 4.2 pips on price at the first attempt.

What changed at SLM on the weekend prior to May 2nd 2011?

Clients using other brokers with the same EA are not having this problem and your persistence in the “not our fault” line just doesn’t hold water.

As you can see from comments on this forum, there are many of your clients who are now wishing to close their accounts with SLM. Not sure that causes you concern Paul, but it should.

Mike

I have followed the arguments and experienced the same issue with using the EA on SLM...

To be fair, guys, SLM may be right when they say that it could have something to do with the latest build of MT4. I resisted using the latest build for a long time (weeks maybe) and only started having the issue after I upgraded.

Trading manually on MT4 or with the EA uses the same platform and the same processes to place an order. Both are being executed from MT4. I do not think you can use this argument against SLM. What it does prove is that it is not the EA that is the issue. I think that it may well have something to do with MT4 (new build). The only thing that concerns me is this seems to be only an issue dealing with SLM and not the other brokers.

This kind of issue may unfortunately take quite a while to be resolved, but I for one will give SLM a fair chance to resolve the issue before resorting to drastic measures, as long as I get the impression that things are moving forward in their efforts ...
:|

 

[tkbieber]

to add, a short trade would be better than a long

You think so, yeah?

 

[hammy66]

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

6:15 start, short signal, hit SL -46 pips
6:30 start, short signal, hit SL -46 pips
6:45 start, short signal, hit SL -23 pips (half lots)

total today, -115 pips

weekly total -165 pips

 

[andycon]

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

6:15 start, short signal, hit SL -46 pips
6:30 start, short signal, hit SL -46 pips
6:45 start, short signal, hit SL -23 pips (half lots)

total today, -115 pips

weekly total -165 pips

Hi Hammy

As you seem to have been one of the longer serving members of FMT, do you have any stats on the total number of losing trades in a row to date.

 

[magicdogsbrain]

I have followed the arguments and experienced the same issue with using the EA on SLM...

To be fair, guys, SLM may be right when they say that it could have something to do with the latest build of MT4. I resisted using the latest build for a long time (weeks maybe) and only started having the issue after I upgraded.

Trading manually on MT4 or with the EA uses the same platform and the same processes to place an order. Both are being executed from MT4. I do not think you can use this argument against SLM. What it does prove is that it is not the EA that is the issue. I think that it may well have something to do with MT4 (new build). The only thing that concerns me is this seems to be only an issue dealing with SLM and not the other brokers.

This kind of issue may unfortunately take quite a while to be resolved, but I for one will give SLM a fair chance to resolve the issue before resorting to drastic measures, as long as I get the impression that things are moving forward in their efforts ...
:|

I simply do not understand your argument. The simple fact is that SLM are at fault. I have not got a contract with MT4.