Blackstick
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Short trade for me this morning.
Not quite! I got out at +13 pips.
andybissell
Active member
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I meant anybody who isn't inteferring with the system...
Another SL today: -38 (Short)
FMT: £818 (-18.2%)
System going terribly recently, checked this morning and September is down 76 pips for me now...strongly considering dropping the system again after a brief decent period - will give it until end of October.
I have to say that I started at the beginning of November and save for the second part of December, the system performed well up to around Easter, from then it went downhill.
As regulars to this forum will know, I along with others, was a great fan of the system and a staunch supporter of it.
Since mid July, due to failing performance, I disabled the EA on my cash account and it remains disabled. I will continue to monitor it on demo but until such time as I see some sort of consistency, I regrettably have to accept that, although the EA was based on a sound concept, it seems to have run out of steam.
Ah well, one has to adapt to market conditions. The EA made me money and I have no regrets in purchasing it.
Time to move on, so I challenge this forum and indeed Mark, to post the successor to FMT....
Regards
Euro
As regulars to this forum will know, I along with others, was a great fan of the system and a staunch supporter of it.
Since mid July, due to failing performance, I disabled the EA on my cash account and it remains disabled. I will continue to monitor it on demo but until such time as I see some sort of consistency, I regrettably have to accept that, although the EA was based on a sound concept, it seems to have run out of steam.
Ah well, one has to adapt to market conditions. The EA made me money and I have no regrets in purchasing it.
Time to move on, so I challenge this forum and indeed Mark, to post the successor to FMT....
Regards
Euro
FMT for today, (45-30-18) Pepperstone Razor (live)
6:15 London, GU, sell trade hit SL, -45 pips
6:45 London, EU, sell trade hit SL, -45 pips
8:45 NY, GU, buy trade hit TP, +30 pips
total today -60 pips
total this week 0 pips. (3 TP,2 SL, 4 BE)
6:15 London, GU, sell trade hit SL, -45 pips
6:45 London, EU, sell trade hit SL, -45 pips
8:45 NY, GU, buy trade hit TP, +30 pips
total today -60 pips
total this week 0 pips. (3 TP,2 SL, 4 BE)
Well, I think in Otcober will start using Hammy settings if he doesnt mind.
Hammy, the settings that you are using are SL=45, TP=30 and move to BE at 18, right?
This is both for 06:15 GMT+1 and 13:45 GMT+1 in GU ?
yes, you got it !!..
Well, I think in Otcober will start using Hammy settings if he doesnt mind.
Hammy, the settings that you are using are SL=45, TP=30 and move to BE at 18, right?
This is both for 06:15 GMT+1 and 13:45 GMT+1 in GU ?
Just beware that hammy keeps changing his settings so often that your head will be spinning.
:clap:
Good luck
Just beware that hammy keeps changing his settings so often that your head will be spinning.
:clap:
Good luck
Be fair to Hammy, we are told that markets change and EAs ought to change to match. This is what Hammy does, and he always publishes any changes that he makes.
I am going to try his US opening times trade live next week, Alpari UK time 14:45.
andybissell
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NT yesterday, short TP +38 today (at last)
FMT: £856 (-14.4%)
Week: NT L L NT W
September finishes -38 pips for me; would be -76 had I not taken a holiday.
FMT: £856 (-14.4%)
Week: NT L L NT W
September finishes -38 pips for me; would be -76 had I not taken a holiday.
Lumbco,
Point taken. It was said in jest. I appreciate hammy's (and other member's contributions in this forum) . However what upsets me is the absence of one Mr. Fric. Where the he** is he? Don't you think that he should be taking the lead - doing all the research and updates etc (being the creator of FMT)?
So when u say that "EAs ought to change", I would like to see that 'change' initiated by MF, with all due respect to hammy
FMT for today, (45-30-18) Pepperstone Razor (live)
6:15 London, GU, sell trade hit TP, +30 pips
6:45 London, EU, sell trade hit BE, 0 pips (missed TP by 2 pips)
8:45 NY, GU, sell trade hit TP, +30 pips
total today +60 pips
total this week +45 pips. (6 TP,3 SL, 4 BE, 2 NT)
6:15 London, GU, sell trade hit TP, +30 pips
6:45 London, EU, sell trade hit BE, 0 pips (missed TP by 2 pips)
8:45 NY, GU, sell trade hit TP, +30 pips
total today +60 pips
total this week +45 pips. (6 TP,3 SL, 4 BE, 2 NT)
Let's not be too harsh on Mark Fric, he has given us this brilliant system and EA and made it very affordable for everyone. He posts all his results in the journal, good or bad, and I'm sure he is a very busy man so I don't see why he should have to come here on the forum unless it is to announce an update or change in settings for FMT. You do not have to trade with the default settings, they are only a guide. If I see an advantage to change then I change my settings to what works NOW, but I spend alot of time studying the charts both GU and EU to see what is working with the current market. You may not agree and that's fine, but at the moment my 'new' settings are working better than defaults, and if I see a better setting I will adapt to it again, this is how I can keep FMT a winning EA for me. I post my settings and results for anyone who is interested and I notice some are using them to profit and that's great !! Forex is ever moving, ever changing, and IMO you need to adapt to current conditions and change.
cheers ! ...and a great weekend to all !!
cheers ! ...and a great weekend to all !!
Mike Forex
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Very Interesting!
Very well said Hammy..the point being we have a good foundation that FMT was built on and all it needs is tweaking from time to time to keep up with the changing market conditions. No matter what the results are, they are published and transparent..That is alot more then other EA's or strategies that are out there..It is not perfect, but I find that it is built on sound principles,eg,(breakout times), that are in direct correlation to what the currency markets are doing..Thankyou Hammy for keeping up with the tweaking.
wiseambitions
Established member
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Hi Guys
It's no secret that the markets have been very difficult lately.
At the end of the 3rd quarter it has been said that the FTSE100 (UK stock market yardstick) has had the worst 3 months in 9 years. What with problems in the euro zone, Arab Spring and war in Libya, US credit rating downgrade, Japanese tsunami, it's not surprising this has made currency trading difficult too
FMT has struggled. Yet many other systems have done even worse.
In my careful assessment, and everyone will notice occasional differences due to their brokers, and due to slippage, here is what FMT has produced, using recommended settings
Last 3 months +175
Last 6 months -165
If the last 3 months are better than the previous 3 months (and that's just a snapshot at the 1st April and 1st July) then it shows that the system is trying to drag itself out of a terrible bad patch which hit it hard in the month or two immediately following Easter. But it's not a convincing recovery. If we were still using the original settings of 40tp and 40sl we'd be down 200 pips in the last 3 months or 680 down since six months ago. So it's a good thing that the recommendations were altered, but market conditions are changing all the time, and can anybody modify the optimum settings fast enough?
My personal results from FMT were 59 up in the last 3 months but still 18 down in 6 months. This might say that I've beaten the benchmark since the start of April but I've only done so by having tweaked my settings (admittedly Hammy is likely to have beaten me) but it is still not good reading. If the system had not produced a profit on Friday (30 September) I'd have abandoned it completely, or considered trading in the opposite direction to the indicators, however after 3 losing days it did offer a win. You mustn't put your eggs all in one basket with this forex stuff, it needs a combination of strategies to hopefully come through with a reasonably good result. And I'm glad for other discoveries.
I'm sure there are other people who have been crunching numbers and looking at maybe the entry signals as well as the exit settings, however it seems only to have been Hammy who has had a lot positive to contribute. In a variant of ordinary FMT, T K Bieber is running something of his own in a high risk strategy (high % risk per trade but high stop losses) which was looking tremendous until it hit a setback in the middle of the month. It will be interesting to see whether his statistics pick up again, however it is fair to say that he is doing much better than basic FMT even in consideration of a major drawdown which was his first
Meanwhile we have gone a long time since the last email from the system's developer, and along with everyone else I will be very keen to hear what he next has to say about things. It's still on sale, and yet I doubt there's a queue of newcomers eager to join in right now. Nor do I think there are many people left actively using FMT right now either. Its principles remain sensible however we aren't seeing trends pre the London/Europe opening being pushed through to TP like they used to do, and sadly it's lost its edge. It could still return to form, and produce 100 to 150 pips a month again, but I wish I knew when. Meanwhile I'm sticking strictly to my own rules, but not depending on this system only for my bread and butter.
It's no secret that the markets have been very difficult lately.
At the end of the 3rd quarter it has been said that the FTSE100 (UK stock market yardstick) has had the worst 3 months in 9 years. What with problems in the euro zone, Arab Spring and war in Libya, US credit rating downgrade, Japanese tsunami, it's not surprising this has made currency trading difficult too
FMT has struggled. Yet many other systems have done even worse.
In my careful assessment, and everyone will notice occasional differences due to their brokers, and due to slippage, here is what FMT has produced, using recommended settings
Last 3 months +175
Last 6 months -165
If the last 3 months are better than the previous 3 months (and that's just a snapshot at the 1st April and 1st July) then it shows that the system is trying to drag itself out of a terrible bad patch which hit it hard in the month or two immediately following Easter. But it's not a convincing recovery. If we were still using the original settings of 40tp and 40sl we'd be down 200 pips in the last 3 months or 680 down since six months ago. So it's a good thing that the recommendations were altered, but market conditions are changing all the time, and can anybody modify the optimum settings fast enough?
My personal results from FMT were 59 up in the last 3 months but still 18 down in 6 months. This might say that I've beaten the benchmark since the start of April but I've only done so by having tweaked my settings (admittedly Hammy is likely to have beaten me) but it is still not good reading. If the system had not produced a profit on Friday (30 September) I'd have abandoned it completely, or considered trading in the opposite direction to the indicators, however after 3 losing days it did offer a win. You mustn't put your eggs all in one basket with this forex stuff, it needs a combination of strategies to hopefully come through with a reasonably good result. And I'm glad for other discoveries.
I'm sure there are other people who have been crunching numbers and looking at maybe the entry signals as well as the exit settings, however it seems only to have been Hammy who has had a lot positive to contribute. In a variant of ordinary FMT, T K Bieber is running something of his own in a high risk strategy (high % risk per trade but high stop losses) which was looking tremendous until it hit a setback in the middle of the month. It will be interesting to see whether his statistics pick up again, however it is fair to say that he is doing much better than basic FMT even in consideration of a major drawdown which was his first
Meanwhile we have gone a long time since the last email from the system's developer, and along with everyone else I will be very keen to hear what he next has to say about things. It's still on sale, and yet I doubt there's a queue of newcomers eager to join in right now. Nor do I think there are many people left actively using FMT right now either. Its principles remain sensible however we aren't seeing trends pre the London/Europe opening being pushed through to TP like they used to do, and sadly it's lost its edge. It could still return to form, and produce 100 to 150 pips a month again, but I wish I knew when. Meanwhile I'm sticking strictly to my own rules, but not depending on this system only for my bread and butter.
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