joeytrader

FMT author has free gifts on how to use and back-test EAs

 

In case anyone is interested, the author recently sent out a monthly update to his FMT members. And he included a free gift inside. It is on how to use and test EAs.

 

As I trade only manually, I have not downloaded them myself. But it may be of some value to members here.

 

Also, as the gifts are free, and also not specific to FMT, I hope I am not violating the FMT black-list rule by posting them here.

 

The ebooks on EAs, and few words from the author:

 

The ebooks are:

Loading, Running & Troubleshooting an EA

Testing and Optimizing an EA

 

I believe especially newbies will be able to learn a lot of information on how

to correctly run EAs, and how to backtest & optimize them.

 

You can download these ebooks for free here:

http://www.forexmorningtrade.com/abc123/Loading_Running_Troubleshooting_EA.pdf

http://www.forexmorningtrade.com/abc123/Testing_Optimizing_EA.pdf

 

 

If you wish to read the entire monthly letter, because it is quite long, and I do not want to take up too much space of bill's thread, you can read it in post #290 in the II thread here:

http://indo-investasi.com/showthread.php/8789-Forex-Morning-Trade?p=136433#post136433

 

cheers

I notice that bill's mt4stats.com statement has not had a new trade since Monday the 21st. I hope it was simply a case of bill of wanting to take a short break, and not something ill has happened to him.

 

Talking about anything bad that can come to anyone unexpected, as an aside, my heart and best wish goes to anyone here who is from Christchurch NZ, or knows someone who is from there.

 

Anyway, back to this thread.

 

To answer hitescape's question about my tracking of manual FMT results. Except for the X'mas/New Years holiday period, I do trade FMT manually, but as I have recently mentioned on another thread, although I take all valid trades from FMT, I sometimes do get out of a trade earlier than the official method. So my actual results will not be very comparable to the official results.

 

And if anyone is interested in seeing how the manual FMT would have performed, I have found the author's official report of results relatively honest. Although there will be days of different results among different brokers, due to different broker's data feed, different spread, etc. But overall, you can get a sense of how the base FMT trading has been performing, by checking the author's update here:

 

http://www.forexmorningtrade.com/trading-journal/

 

(I hope I did not violate the black-list rule here, since this results page is not a password protected page, and anyone with good enough internet searching skill can probably find it anyway.)

Thxs for your 2 cents!

 

You're welcome.

 

But to give credit where it is due, I did not discover this phenomenon on my own. Someone on the author's t2w thread first mentioned this a while back. So I learned about this one relatively recently myself too.

In addition to ADR filter, there is sometimes another phenomenon that is specific to Mondays: you can sometimes find different brokers giving very different 60 periods Momentum and CCI numbers by the 6:15, 6:30 candles time. It is due largely to each broker has different practice of the ending hour for each week, and starting hour for each week.

 

So after the week-end, if one broker starts the data feed a few hours earlier than another broker, depending on the price movement during this period of time, it can affect the Mom. and CCI.

 

But this is usually the case if the trigger is very close to switching sides between going long or short, and it is true only for Monday.

 

Just my 2 cents.

Thanks a lot Joe,

 

Effectively I only looked at charts later (not live as you did), see pic and it was a Short at 07:15.

 

I am glad you watched that live, it is clear now and we can conclude it is very sensitive!

 

Do you think a coder could add a buffer (extern parameter) when this happens so that would lead to a no trade in this case, or wait for the next bar if signal is confirmed (today short at 07:30)?

 

http://img43.imageshack.us/img43/5273/fmtaw.jpg

 

Hi Freddy, I think I notice couple of points from your chart:

 

(1) The data window is showing Momentum and CCI for the "close" of the M15 candle, so in fact, this is the signal for the official FMT short signal at 7:30 (your chart time). Whereas for Bill's TMT signal at 7:15, you actually need to look at the data at the "close" of the 7:00 M15 candle (i.e. just the instant before 7:15 candle starts), one candle to the left.

 

(2) Your data feed seems a little different from alpari UK demo, which I use. I assume this is due to slight variations of price feed between different brokers. So in my case, if you move your cursor 1 candle to the left of the current candle you highlighted, on Alpari UK Demo will show Momentum = 100.0157, and CCI = 7.6892, just barely qualifying for "long" trade. But on your chart, due to slight different data feed, your numbers may differ from mine, and in you case a TMT may be a no trade right at the start of 7:15 candle.

 

But by 7:30 (your chart time, which is 6:30 London time) comes, the end of 7:15 M15 candle is now clearly pointing to a short trade.

Hi everyone,

 

Could you Bill, or any other TMT's specialist help me understand why (at least today)

 

(Momentum < 100 & CCI<0):should go Short.(!? no?)

But:

 

TMT enters LONG (hit SL)

and

FMT enters SHORT (hit TP)

 

I thought the Enter's logic was the same for both, and the difference was that TMT had different Exit strategies.

 

Thanks

freddy

 

I am not TMT specialist, as I only trade FMT manually, but I think I can explain.

 

GBPUSD was very flat for the entire Asian session, so the Momentum and CCI indicators were very close to their respective long-or-short change-over levels by 6 o'clock London time.

 

I was watching it live as it happened. For the half hour before 6:30 London time, the signals were jumping back and forth between long, no-trade, and short. In fact, for Bill's TMT trade trigger time of 6:15 London time, it was still a no-trade signal literally only minutes before, but then both indicators just barely pushed above their mid-lines by the end of the candle right before 6:15 London time, so the EA registered a Long trade.

 

If you were watching the chart at that time, you would notice both indicators almost "immediately" went back below to the short side within seconds right after.

 

So today is one of those rare days where the signal changed from long to short within a very short time-span. By the time 6:30 London time comes, it was now a short signal.

 

I myself did not take this trade today, because of the jumping back-and-forth of signal I just mentioned. Although if I had, I would have had a winner.

 

 

 

Edit:

Forgot to mention, another difference between FMT and TMT, is that the basic FMT uses only 6:30 London time for entry, whereas TMT can have the option of entering at different entry times as directed by the trader. In this case, Bill's TMT looks for trade at more than just one set time. And today, his TMT took a valid trade at 6:15, which has a different direction from FMT signal by 6:30.

Agree with jm2110, the official entry time for FMT is 6:30 London time, regardless of summer or winter time.

 

I can also confirm that Bill's timing is pretty much in-line with the official time. Because yesterday, I was tracking live both my FMT chart, and Bill's mt4stats.com updates. As soon as Bill's 7:15 trade (see his post #71) was triggered, I noticed my world clock was showing 6:15 London time. In other words, 7:30 on Bill's test will be the same as 6:30 London time. And from Bill stats on the mt4stats page, most of the trades have been placed either 6:15 or 6:30 in terms of London time.

 

I too am trading this live since late last week, but with a much more humble risk exposure per trade. Also I am manual trader, so I use a more basic 40 TP, 20 BE, 50 SL, and try to stay as close to 6:30 start time as I can. (Yes, slightly larger SL from the official method). But as a manual trader, I frequently deviate from the standard rules. For example, if I see prices are likely to begin to take off in FMT's direction (e.g. higher highs higher lows, in a long trade), I sometimes get in earlier by couple of minutes, and frequently save myself a few pips there. Then I sometimes also get out of trade earlier, especially if prices are struggling near any likely resistance/support.

 

Yesterday it was pure luck that I closed the trade at 12 pips profit, because I had to leave for some family errands.

 

But like Bill's prediction in post #69, I half expected a loss was coming up soon before yesterday's trade. And hopefully, another winning streak will now return again.

. . .

This week has been a great way to start the month. All winners, no losers. By next week I should have completely recovered from January's losses. Hope everyone has a great weekend!

 

Congratulation!!

Long trade

First TP hit at +35 pips (75% of position)

Second TP hit at +46 pips (25% of position)

Total growth of account: +13.8%

 

Nice!! BTW, what do you use for initial stop loss?

. . .

i have been using scalping stategy for the last few months and did not have a losing trade so far....the maximum drawdown was 20 pips and the minimum was 1 pip...

 

Hi dannydon786, any specific scalping method or strategy that you use for your scalping trades? I think many scalpers or potential scalpers would be interested too.

. . . It's a shame that I decided to stop trading on Wednesday... Thursday and Friday would've been winning trades!

 

Actually, according to the author's official results, Thursday was only break-even day for both the FMT and TMT. So you only missed out on the one trade of Friday's win. (Unless, of course you are not using the author's recommendation of moving stop to break-even after a 20 pips move, then you would have made a profit on Thursday too).

 

Either case, good luck re-starting next week. Like others on this thread, also rooting and cheering your efforts. Go make history friend!

That is an awesome project, Bill.

 

Secretly I have always wanted to try something like that. But to be honest with myself I do not have the guts (or mental constitution) to do it on live account.

 

Wish you best of luck. Looking forward to follow your progress.

Hi Freddie, I do not think this John Thom@s chap is selling his service as a good Samaritan either.

 

At $2000 per person, if he can get 100 people to sign up, that will be $200K. And if 500 or more sign up, that will be a cool million dollars or more, each and every year. (I know he says 500 available spots only, but I assume if it does sell well, it will not be that difficult to raise this number in the future, or to raise the price).

 

And he will be doing the same type of analysis for his own hedge funds anyway. So not really additional work in the analysis side. I guess this "mentoring" can pay quite well for him.

 

hmmmmm, maybe we are in the wrong business, lol.

 

I know it will be too expensive for my personally signing up. My interest here is more on knowing what sort of "Macro" trades he is thinking about, and for sparking my own interests in learning a bit more on the fundamental side of trading.

 

 

Edit:

I just finished watching the first video link posted by mlee in post #7, the one for "topcurrencytrades", I thought it was an interesting video on longer term timeframe for forex.

All the affiliates are pushing this one. Hector is just like the rest "...only recommending ..."

He, and some others didn't always go this route but more and more they do. I firmly believe that he will be pushing Pourlos(sp) soon.

 

Hi Freddie, I have no reason to defend Hector. And I agree with you, if he ever start promoting Poulos (or better yet, start promoting Dittman, LOL), I will un-subscribe from his list immediately.

 

So far, at least in my case, Deville hasn't been as bad as many other affiliates in swamping my email in-box with non-stop junk mail. So I will still give him the benefit of the doubts. And his previous offering of (unfortunately black-listed) Hector's Course is still one of the better ones I have seen out there. But he does have the problem of talking too long and too much.

 

Anyway, still interested if anyone knows more about this "M@cro Million@ire" offered by this chap called John Thom@s. These "Macro" events he mentioned and their impact on financial instruments do seem quite interesting to me. Although I trade only forex, never hurt to read/learn about other investment opportunities.

One of the few forex authors I like, Hector Deville, seems to be recommending this guy. Anyone heard of this one before ? (I took out the affiliate link, of course):

 

http://[email protected]/macromillion@ire/live/

(change "@" to "a")

 

It is not specific to forex, but does seem interesting. The idea of macro moves also make sense to me. But unfortunately, $2000 per year (and recommended $20,000 minimal starting account) is a bit too rich for my wallet at the moment.

 

Anyone know anything of this John Thom@s guy?

. . .

Just saw this and now it's closed to new members! . . .

 

Has anyone tried this out??? ....

 

I didn't realize the door is now closed until you mention it. But wait, according to their webinar sign-up page,

There are currently no memberships available as the club is full but there will possibly be webinars on Sunday 9th or 16th January but it will only be for a small number of memberships

, so I guess as long as anyone bother to sign up and attend their webinars as they come up, they will continue to offer "small number of memberships", whatever "small number" here means.

 

As to anyone trying this out, it seems at least foxmajster is currently test driving this one. Let's see how the test gets on in another few weeks or so.

Thanks harry for the info.

 

I guess the question is: can he be both a internet marketing guru, as well as a forex trading guru?

 

At this time, to give him benefits of the doubts, it is possible for him be good at both trading and marketing.

 

There is no way for me to verify one way or the other.

 

I will be interested to hear foxmajster's continued experience with this when his subscription continues in January.

 

Then we can see if "papa" continues to deliver on the trading front.

careful guys, today a mate send me info:

 

this guy sell some other stuff before, he was never a pro trader

 

here is a video from the "papa C" from what he sell before:

 

hxxp://www.youtube.com/watch?v=bdc3JVvAepA

 

 

cheers

 

Perhaps "papa" got wind of this, because "the video has been removed by the user" by the time I saw the link.

 

Just curious, for those who did not see the video in time, what was it about?

This is my incomplete understanding of ntynamoo's strategy so far:

 

Using ntynamoo's first chart, for sell trades:

 

(1) If price is below 20 periods SMA on M30 chart, and also below the Ichimoku Kijun 104 line on M1 chart, your are to take only short trades.

 

[i am lazy, so to avoid opening up 2 separate charts of M30 and M1, I only open one M1 chart, but also add a 600 periods SMA to the M1 chart, this is the same as the 20 SMA on M30 chart]

 

 

(2) For short trades, on M1 chart, when price has touched the upper band of 20 periods Bollinger Band, and price has consolidated for a few candles in the area, place a pending sell order a few pips just below these congested group of candles (what ntynamoo drew on his chart and what he called the boxes), and let a drop in price trigger your sell trade. If price continues to move up, you pending order is not triggered. Just cancel, and look for next set-up.

 

(3) His suggested first target is around 3 pips or so.

 

So this is my interpretation so far. Unfortunately, I have not figured out the 2nd chart that ntynamoo showed us. Those expanding "envelopes" do not look like simply bollinger bands with bigger standard deviations. If someone knows what they are, it could be helpful.

 

ntynamoo or Diesel or anyone with better understanding, please help out.

Thanks foxmajster for the update.

 

May I also ask, are you able to learn his trading method or system? In other words, does he reveal how he generates his signals to his clients?

 

I notice you mention he does explain his method in details. I guess my question is, after one month, are you able to walk away, with the knowledge that you can also trade the same method without him?

I was sent a free download link for this. I did a quick search here on II and not see this shared yet. So here is a quickie share:

 

http://www.4shared.com/document/w7e8G4Ab/7habits.html

 

Although the author's background and examples are for the stock market, the "habits" of successful traders are just as applicable to forex trading.

 

Most of us here on II forum probably think we are already above reading something like this (I include myself in this category, lol), but I find this is still a good refresher read to remind us some of the proper "attitudes" that we should be having while trading.

 

Hope you enjoy this.

I got sent a link from cash-master promoting this outfit (I of course deleted their affiliate link):

 

http://[email protected]/

 

Usually trading signals or follow-and-copying live trading is not my cup of tea. (I prefer to learn and understand how to trade). But I found the results page interesting:

 

http://[email protected]/performance.php

 

He is showing not a single losing day for 4 months, and average over 3 digits pips per day.

 

Is he real, or is he scam? Anyone has any info on this P@ppa chap?

Sounds interesting. Will hop in if get a chance to say hi.

 

Just a question for now, you mentioned that there are 3 systems that you are trading, will you be sharing those systems with your members, so they can follow the same charts reading the same signals along your side?

. . .

Joeytrader, switch to daily chart and then check if it's only one line, I guess not.

 

I try different timeframes, including daily chart. For some reasons, I can get at most 3 lines, but not all 4 lines at any one time. Now I cannot seem to show the Close price line. If I hover my cursor arrow over the area where the Close line should be, it does return a small data box indicating there is an "invisible" Close line there.

 

I will play with it some more, it is probably something simple or stupid on my side, like line having same color as background color, or forgetting to have a color for that line.

I wrote OHLC indy, so it will add OHLC lines of previous day by default or you can change barBack to 1,2,3 etc .. or you can add one indy with barBack=1, another one with barBack=2, etc..

 

 

http://www.4shared.com/file/LjhNAZDW/ohlc_al.html

 

Hi altorono, thanks for coding and sharing your indi. A question though, when I put it on my chart, it is drawing only 1 horizontal line, not 4 lines. What am I doing wrong? Currently, of the 4 OHLC lines, it is only drawing the L(ow) line, and nothing for the O(pen), H(igh), or C(lose) lines.