andybissell
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another loss... -45,
FMT Account: £945 (-5.5%)
FMT Account: £945 (-5.5%)
wiseambitions
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Unlucky Friday 13th for FMT traders
This is the ugliest patch I think the system will have been through even in the 2 or 3 years of backtesting prior to release. Worse than Christmas in my experience.
Last 10 trades, to compare the various changes to FMT recommendations
Original system 40tp/40sl (without BE) -160
and with BE@ 20 still -160. (I know there was a tip to reset to BE at 24 at one time)
First revision. 35TP/40SL/BE@20 -170
Latest revision, including advancing the start time
35TP/45SL/BE+5@25 -185
Strange to say the revisions have done more harm than good, just in the last 3 weeks.
This is the ugliest patch I think the system will have been through even in the 2 or 3 years of backtesting prior to release. Worse than Christmas in my experience.
Last 10 trades, to compare the various changes to FMT recommendations
Original system 40tp/40sl (without BE) -160
and with BE@ 20 still -160. (I know there was a tip to reset to BE at 24 at one time)
First revision. 35TP/40SL/BE@20 -170
Latest revision, including advancing the start time
35TP/45SL/BE+5@25 -185
Strange to say the revisions have done more harm than good, just in the last 3 weeks.
podberry
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wiseambitions
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Effect of a 10,000 investment at start of 01 January 2011, traded daily at 40tp/40sl, with 5% risk
Account now stands at 15,900
59% growth in 19 weeks
And that's for being right only 57% of the time
I am not here to persuade people who quit to hang on, nor to say what other systems or settings might be better
Account now stands at 15,900
59% growth in 19 weeks
And that's for being right only 57% of the time
I am not here to persuade people who quit to hang on, nor to say what other systems or settings might be better
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Have a great weekend davinci79, see you next week
You too but I'm not sure to be here next week. Anyway I still have a little hope because my backtests show that this is not the biggest drawdown since January 2009.
podberry
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Just hang in there, remember there are bad months with the system, there will be better months, always look at winning months versus the bad months and the graph when feeling down http://www.forexmorningtrade.com/results/
Onside totally with your analysis.
On a similar vein, I have been running a demo of FMT since end Oct 10, not a fair and clear test but using standard FMT and FMT scalp plays the demo has just over doubled in that time.
Again, I stress that the analysis is crude as it includes the scalp tests but I think it shows that FMT is viable.
I use the demo to test prior to going live and with standard FMT plus more recently FMT scalping, my live account is still up and intact.
People may ask if it has run out of steam?
In my opinion it has not but then again, each must make their own judgement on long term performance.
I for one, will be back on Monday.
Good weekend to all.
Thanks Pod for the encouraging graph, i'm feeling "nearly" the same... only started in April so down 13% of my "initial" investment. not good but gonna carry on as i guess taking the drawdown and being a man about it (!) is all part of learning trading psychology.
wiseambitions
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In addition to 40/40 (without Breakeven) producing 59% gain at 5% daily risk since 1/1/2011 I am able to say
the intermediate FMT recommended settings of 35/40+BE@20 would have produced 42.7%
10/40, which is a conservative setting, would have produced 43.3%
Alas they might have all been 20 or 30% higher figures prior to the recent sticky patch.
I believe better times will come back.
the intermediate FMT recommended settings of 35/40+BE@20 would have produced 42.7%
10/40, which is a conservative setting, would have produced 43.3%
Alas they might have all been 20 or 30% higher figures prior to the recent sticky patch.
I believe better times will come back.
Kinger
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That’s the thing when you start trading, your account will look like the cable chart itself (see previous post).
But if you start trading the system right before a retracement, it’ll feel like you’re trading like a loser.
But you need to persevere and keep going, that’s the only secret here.
deserteagle
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Hello my friends,
All the trading systems I have seen have drawdowns, should FMT be excluded of it? ... please don't say 'yes' because it would mean you are not ready for trading.
Is anybody having a DD higher than 10% by risking 2%? maybe just a few.
In my personal situation, I'm having a DD of -6% by risking 4%, which I consider as normal, inside of the expected values considering the backtests I did.
For this reason I'm not worry about FMT performance right now, just keeping an eye in the coming weeks.
Cheers.
All the trading systems I have seen have drawdowns, should FMT be excluded of it? ... please don't say 'yes' because it would mean you are not ready for trading.
Is anybody having a DD higher than 10% by risking 2%? maybe just a few.
In my personal situation, I'm having a DD of -6% by risking 4%, which I consider as normal, inside of the expected values considering the backtests I did.
For this reason I'm not worry about FMT performance right now, just keeping an eye in the coming weeks.
Cheers.
I have been trading FMT since 9/14/10. My account gain has been as high as 88% gain while risking 4%. My current balance is a 64% gain so I have had 14% drawdown using 4% risk per trade. Still performing ok. but as you said I will keep my eye on it. My results are on a live account which inlcudes missed trades because of interent being down and I manually change the 4% risk per trade as the account increases so there are times I am risking just more than or less than 4% per trade.
