ForexMorningTrade System

[JustinSydney]

I've been thinking about it. Managed to alter the code on FMT and TMT to trade oppisite to normal. The backtest for the last three weeks is just as profitable as FMT normally is.

Although as soon as I start using it the market will go back to the way it was.

 

[entoure]

Although as soon as I start using it the market will go back to the way it was.

Very amusing Justin

 

[jimmc]

In Feb I waited for FMT to become more stable and I missed the best trading month. Then I started trading again only to find myself in another drawndown period.

Hehe - I did the same. Bought it beginning of Jan and wasn't sure, watched it get 274 in Feb, March was ok, then we know what's happening April / May. Do you think we've jinxed it?

 

[jimmc]

That's why we establish the rules and proper money management, turn it on and go on vacation for 2 years and come back to see how it did. No emotion involved, 100% EA.

Maybe, but not with Smart Live Markets - probabaly come back to find the EA couldn't set a stop and empty account.

 

[podberry]

Guys, has Smart Live Markets sorted out their delay issues yet ?

 

[jimmc]

Guys, has Smart Live Markets sorted out their delay issues yet ?

Error 6 no connection this morning - it's regular now. Costs about 10 seconds delay then in on 2nd attempt. Didn't make much difference today, but I haven't seen it go in my favour yet.

 

[Tenapenny]

Do you still find Lindencourt system profitable ? Heard that it has lost its edge more recently...

Don't want to sidetrack FMT but it's still profitable on the daily for me. There's a good discussion here http://www.donnaforex.com/forum/index.php?topic=2322.345 so we don't derail this thread.

 

[deserteagle]

Hi, does the 38,38, 27,05 mean the stop is set to BE at 22 and then BE add pips 5, or BE at 27 with BE add pips 5. Mine is currently 40,40,20,5. Thanks

Hi, 38, 38, 27, 05 means 38SL 38TP 27BE 5BEADDPIPS, SL is set in +5 when profit reachs +27.

 

[RedGuerrilla]

Stats for 05-18-2011



Live Accounts:

FMT 4.3, EA standard settings: 45 SL, 25 BE, +5 BE, 35 TP
6:15 UK Time, FXSolutions..., No Trade...., 0.0, Stats since 11-08-2010: Total= -122.0
6:15 UK Time, IBFX.........., Long/Loss..., -45.8, Stats since 01-04-2011: Total= +41.1
6:15 UK Time, PFG Best......, No Trade...., 0.0, Stats since 03-01-2011: Total= -146.3



Demo Accounts:

FMT 4.3, EA standard settings: 45 SL, 25 BE, +5 BE, 35 TP
6:15 UK Time, PFG Best......, No Trade...., 0.0, Stats since 02-01-2011: Total= +186.9
6:15 UK Time, FXCM.........., No Trade...., 0.0, Stats since 02-01-2011: Total= +261.9
6:15 UK Time, Alpari(US)...., No Trade...., 0.0, Stats since 02-01-2011: Total= +220.4
6:15 UK Time, FXDD.........., No Trade...., 0.0, Stats since 02-01-2011: Total= +144.7



Notes:

All pip totals include slippage
FXSolutions is the only dealing desk broker



Comment:

Live account IBFX had a loss even though the LongCandle filter was on.
My live accounts are hurting again.
It's looking like May should be included in the Never Trade Rules?
Maybe the 'Sell in May and go away' is kicking in?

 

[podberry]

Quick Quick, get a camera, it crossed the line into positive territory !!!!!!!!

 

[deserteagle]

Following with the set selection issue.

There is another set which give me 11% more profit than 38 38 27 5, I have called it Combo 615.

It uses different set for shorts and longs:

Short: 37SL 38TP 25BE
Long: 37SL 43TP 27BE

You can see the results of the backtest in the attached comparison.

I encourage Coral to double check the backtest results

Cheers.

PS: this set was already published also in the forward comparison last week.

 

[shoot2scoot]

Quick Quick, get a camera, it crossed the line into positive territory !!!!!!!!

Remind me to get a copy of that photo Pod.

 

[podberry]

Remind me to get a copy of that photo Pod.

Scoot, did you notice the SLM review is up and running on FPA

 

[podberry]

Damn S/L hit -38:help:

 

[shoot2scoot]

Scoot, did you notice the SLM review is up and running on FPA

Oh yes, if my post gets through the screening it should be up in a couple of days!

 

[Flourish]

A loser today with no trade for the past few days with TMT. Forward testing is more convincing than a list of backtesting results. Real live results is evident to eliminate all hard selling of EAs that it can work and hoping it will work. I will stick to my belief that one cannot depend on one trading system.

 

[jimmc]

Don't want to sidetrack FMT but it's still profitable on the daily for me. There's a good discussion here http://www.donnaforex.com/forum/index.php?topic=2322.345 so we don't derail this thread.

Hey thanks for that Tenapenny - I will definitely check it out.

For what it's worth here's my analysis of what I saw when I woke up this morning (see chart). Yesterday FMT indicated long right on the weekly pivot and a short term line of resistance (see red arrow), but EA users were saved by the long candle filter. Today it went long just after a break of short term support and bounce down from yesterday's daily pivot. Not looking good, so I baled out at -14 today. I suspected a bounce up to test the support becomes resistance before falling back again. I could have waited for that, and if it didn't confirm a break back above it would have been a good short signal for me, but I'm busy this morning and have to go out (which is why I'm trying to use an EA). I could be wrong about this morning, but I would expect it to get down to about 1.6116 before maybe hesitating or turning. I hope I'm wrong for eveyone's sake, but I'm out anyway.

 

[davinci79]

SL hit -40 pips (demo)
I can't believe it.

 

[andybissell]

Good news for us still in the trade....will it help us TP?....

 

[shoot2scoot]

Good news for us still in the trade....will it help us TP?....

Andy, just to play safe ask Pod for a copy of his photo of when the market was in profit