joeytrader

Interesting one. But too expensive for me to find out if this one does work for not. Hope it will be shared by someone someday.

Thanks joeytrader, that thread seems to have dried up !

 

I have the same files etc as mentioned in that thread and have been paper trading it for a few days - the pivot levels are amazingly accurate and I have seen very good trades everyday - will keep monitoring it for now but looks good.

 

sparedinner

 

You're welcome sparedinner. I have no longer been tracking this, as I can realistically only trade and/or test no more than 2 to 4 systems at any one time. And I have already had the picks that I want to focus on as least for now.

 

I hope you will keep us II members updated with your experience, either here or on the other thread. As this will help others who may either be on the fence about trying this, or are just curious to finding out more about this.

 

Wish you happy and success trading.

there was already an older thread for this product, you can find it here:

http://indo-investasi.com/showthread.php/6500-REQ-P*H*D-M3th0d?highlight=Andy+Thompson

joey are you still using it?

 

Hi John, yes I am trading this manually. But I do tinker with the rules of entry and exit sometimes. For entry, if there will obviously be a buy or sell trade, and unlikely to change direction before 6:30 London trigger time, I will attempt to seek better entry price before 6:30 comes. On luckier days, sometimes I can get in 5 to even over 10 pips better entry price than official. But of course, I have also been wrong, and ended up trading with smaller TP and larger SL than official. But overall, if I am sharp, generally I can save myself at least the spread cost, ie. 1 to 3 pips better entry. I simply used naked price action on the M1 and M5, to see where the recent highs and lows are, and to try to catch a retrace and continuation movement.

 

For exit, I have the bad habit of getting out of a trade early, especially if I see price struggling near any known support/resistance. Also, as this is not the only method I trade on GBPUSD, if my other methods generate opposite signals to those of FMT, depending on how I gauge the market at the time, I sometimes will do stop and reverse, in favor of my other method's signals.

 

Overall, my mixed-bag modified approach above seems to be working. But still has much room for improvement.

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

Monthly update letter from the author

 

The author recently sent out a long overdue monthly update letter, for anyone interested, I copied it below.

 

There is also a free gift from the author. Since it is free, and they are on how to run and test EAs, and not specific to FMT, I am assuming it is okay to share them here.

 

If they are also not allowed to be shown here, by association with a black-listed FMT, then let me know, I will remove the post.

 

On the free gifts, as I only trade manually, I have not downloaded them myself. But I hope it can be useful to those here who uses EAs and wish to do some EA testings.

 

cheers,

 

Hi xxxxx,

 

it's been already some time since I sent my last newsletter.

I have few news to share with you, and a free gift so please continue to

read the email below.

 

 

-----------------------------------------------

Results For January and February

-----------------------------------------------

 

We are back in profit. After a small loss in January, February is performing

very well. The month hasn't ended yet, but we are already +197 pips in profit,

which is monthly account increase of almost 10%.

Lets hope we'll make some more pips until the end of the month.

 

You can check my trading journal here:

http://www.forexmorningtrade.com/trading-journal/february-2011/

 

 

 

-----------------------------------------------

EA Updates

-----------------------------------------------

 

I recently updated both EA versions (Turbo and FMT). There are NO new features

added, the updates were only about stability. Turbo Morning Trade EA should now

be more reliable when closing the first part of the trade at the first profit.

 

If you don't have any problems with the EAs, it is not necessary to upgrade.

Otherwise you can download the EAs from our members area as usual.

 

 

 

-----------------------------------------------

Going Live with Turbo

-----------------------------------------------

 

After running Turbo Morning Trade EA in parallel with FMT for the past three

months I decided to put it to a live account.

If you compare the results of Turbo to the standard FMT system, you'll find that

Turbo performed better during all those three months.

Even when the month was losing, Turbo was losing less.

 

It is partly because of a different broker (Alpari Demo vs PFG Live) and partly

thanks to additional filter used in the Turbo EA.

The results are not to be 100% trusted because I was running Turbo EA only

on the demo account, but I think Turbo proved that it has at least the potential

to outperform FMT system.

 

So I'm going to continue my forward test of Turbo Morning Trade EA on a

5,000 USD live account on Alpari UK.

 

I'll update my trading journal as usual and I continue to trade both systems,

having most of my money in Forex Morning Trade.

 

 

Just to remember, Turbo page is here:

=> http://www.forexmorningtrade.com/turbo/

 

I'll repeat that this EA is available ONLY for the customers

of standard Forex Morning Trade system - no exceptions.

 

 

 

-----------------------------------------------

Some free gifts

-----------------------------------------------

 

One of my friends and business partner on several projects Andy Pullman asked me

to write two short ebooks about EA robots.

 

I did it with the condition that I can give it for free to my customers.

 

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

 

My name is not mentioned in the PDFs but I'm the actual author.

 

And just in case you'd be interested in purchasing something from his page

(which is mentioned in the PDFs), you'll get 50% discount with the following

coupon code: FMT5SD42E

The coupon is valid only for two weeks, so if you want to use it do it now.

 

I'm not affiliated with him so if you have any questions please contact

him and not me.

 

 

------

 

Ok, that's all I wanted to share with you.

 

Best regards,

 

Mark Fric

 

SonarBytes Ltd, Zahradna 596, Vinicne, 52 90023, SLOVAKIA

25 February update on EURUSD H4:

 

Last long signal from 14 February, is now over 300 pips in profit. But there was a time when price came very close to breakeven (within 20 pips), so one could either still be in the trade, or already taken out by trailing stop if stop was placed over 20 pips in profit from breakeven.

 

There is also now a potential new Sell trade forming. Red yin-yang, 2 red dots (1HR, 4HR). But on the H4 chart, currently price is still well above the top channel line of the closest auto-drawn channels. So we now wait for a red candle to close below a major channel line, and also for price to break the low of such red candle.

 

But that will require either the channel line to redrawn upward to above the current price, or the current price to close below the channel line, or a mix of the two. I will still be following and reporting.

 

As an aside, there has not been a new Day 1 chart signal since 10 January. However, if the current price keeps going up, and go past the recent price high of 2 February and then start to retrace, there might just be a sell forming up too. We'll see. But it is so slow, it is like watching for the wall paint to dry and peel. ( I am still mostly a intra-day trader on the M15, M5 timeframe, so this is taking faaar more patience than I usually possess, hah)

 

Update 1 Mar: there was a valid short signal either on 25, or on 28 Feb. But then price shot back upward, for over 130 pips, past the previous location of red bulls-eye. So I would assume this sell signal was a loser.

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.)

Anyone have a download link to Turbo Morning Trade?

 

Hi CiDER, from what I understand, the base product FMT is currently blacklisted, so I assume its spin-off product TMT is probably also blacklisted, so cannot be shared in open forum here.

 

But from what I have been told, you can purchase TMT even if you're not FMT customer. And TMT is also cheaper too, and can do everything FMT does and a lot more.

 

I myself only trade manually, so cannot help on the EA front. Sorry.

. . .

Does anyone have any thoughts on taking the principle of the weekly candle and applying it to a regular forex strategy where one would receive a better risk/reward ratio?

 

pipburglar

 

I have been thinking along in similar line too. But unfortunately I am not smart enough think through a way to really make this work yet.

 

I initially thought of something like this: putting a pending order (for example, a buy order in an expected uptrend) if price ever came within "x pips" or "y %" of the upper/lower boundary of previous week's candle. But the problem with this is two-fold: (1) how to determine the optimal x or y here, and also (2) in strong trend market, price will likely never come near the wrong side of the candle's range, and many of such pending orders will never be filled, and for those orders that are filled, there is a higher likelihood of price keep going the wrong way. In other words, we are now messing with a lower win-loss ratio, even if risk/reward ratio seems better.

 

Just like pipburglar, will be interested to see if anyone can make this work on regular forex trading.

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.

14 Feb update for EURUSD H4: there is now a valid long trade again, for the last 3 to 4 H4 candles, they were green. Depending on which green candle's high we use as entry, the minimal stop would be approx 65 to 75, plus some buffer, so I'll assume 100 pips stop this time, and see how this one goes.

 

As an additional side note: I notice the re-painting issue again here. I am not referring to just the yin-yang and the green dots. The channel lines, by its nature, continues to re-paint. I was tired last night, so I could be wrong, but I thought last night when I checked, the H1 and the H4 bottom channel line were moved much further down at one point, far away from the green bulls-eye anchor, meaning this morning's trade was not valid. But now, these 2 channels' bottom lines were definitely where the bulls-eyes anchor is, so making this now a valid trade.

 

It was either my mistake last night reading the chart, or the channels re-painting.

 

Edit: 16 February update: we are still in the long trade, but price has not really moved much during this period of time. Although our stop loss has never been threatened yet, price was at most 60 to 70 some pips profit at its max. So not even 1-1 risk-reward, our subjective target for moving stop to BE

 

17 February update: move stop to BE, as price at one time moved over 100 pips in profit from entry. Now a free trade, and see how this one goes

 

23 February update: at one point in time, it price retraced to within 18 to 20 pips of stopping out at breakeven. But then price returned to it upward move. So if your trade has not been stopped out, then it is still open.

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.

Update on the H4 EURUSD: there was a valid signal today for long. Price broke the high of the green candle by at least 10 pips. But unfortunately, price quickly dropped back down, for roughly at least 100 pips from entry. Given that the stop loss was anywhere from 50 to 100 pips for this one, I would say that this buy trade was stopped out.

 

So our first loss so far.

 

I will continue to track this, and see how it goes. Currently, the green yin-yang and the 2 green dots have now re-drawn their position to the latest candle, and we are still looking for a closed green candle, and then price breaking above the high of such candle.

Update on last H4 EURUSD sale trade + potential new buy signal

 

Just a quick update on the last sale trade from post #39, and a heads-up on a developing buy signal:

 

The last sale trade on the H4 chart first moved to approx 250 pips profit before retracing. With the initial stop loss of approx 100 or so pips, no matter your trading style for take profit, I assume you would have moved stop loss to at least break-even, or break-even plus some profits. Then price retraced to within 20/25 pips of breakeven, before moving down again. Currently price is sitting at approx 250 pips profit again. So if your stop was not taken out (depending on where you had moved stop loss to break-even + some profit), your profit is once again over 2 times your risk. The trade was originally triggered on 2011.02.03. So in terms of actual trading days, this has lasted about 8 days so far.

 

Then a heads up on the H4 EURUSD chart, there is now a green yin-yang, plus 2 green dots (1 Hr, 4 Hr). In fact, the price is already above the lower channel lines for the H1 and H4 channels. So if there is a valid green H4 candle "closing" above the channel lines, AND price breaks above the high of the green candle, it will become a valid buy signal for this timeframe.

 

Note: in case you are also watching this only now, you may think there was already a valid signal last Friday, because there was a green candle, and there was a later candle breaking above such green candle. BUT no, in fact at the time that was happening, the auto-drawing channel lines for H4 was not where they are now. So at the time, it was NOT a valid signal, and the green yin-yang was not there until later also. So, as I understand the instruction, only now does it look like a new buy signal may be forming. Which is a good thing too, because price once again headed back south after initially breaking the high of last Friday's green H4 candle.

 

I am not too tempted to take this trade live yet this time, because I am still waiting for alignment on the D1 chart also. But current price is no where near any of the D1 or W1 channel lines yet.

 

If you want to take this trade, good luck. But I still want more experience tracking this puppy first for myself.

 

Since monitoring this only requires a quick glance every 4 to 8 hours, I will keep monitoring this.

Thanks egy_coins for the share, despite the fact that karl took it from somewhere else.

 

Just wondering, is FiboCalc (the free one from TSD) any good?

 

Also, uncle Karl just sent out an email saying his **cough** wonderful **cough** new product is now on version 2.0. Does anyone know if this so-called version 2.0 has anything new here?

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!!

Finally, the EU on H4 definitely had a valid sale trade today. If you had put a pending short order just below the low of the last red candle I mentioned in above post, or if you waited for a newer red candle (after 2 green candles) and put in a sale order below the low of the later red candle, your trade could either gave you at a maximum earlier of 130+ or 150+ pips (depending on which red candle you used to set your entry); that trade currently is still sitting at either +100 pips or +120 pips. That is with stop loss of approx 100 to 85 pips.

 

Too bad I was out of the house for more than 8 hours. When I came back, I missed those big red candles, and the move was over 100 pips already.

 

This is already the 2nd trade in a row for the H4 EURUSD that seems to have worked out. I will observe a few more. If they continue to give me good results, I am tempted to start putting real money behind future H4 signals.

 

Meanwhile, I am also waiting for the "big" one when the daily D1 timeframe also aligns. We'll see when that comes. Looking over historical chart, it comes about only once every two to 7 months. But each one, when valid, can give out some mega pip count (anywhere from 900 to over 2000 pips, from one signal to reverse signal). But we are talking about keeping the trade alive for weeks and even months.

 

But **cough** I will need some major psychological adjustment to try that though, as I am still mostly an intra-day scalper.

Thanks ForexExpert for the share.

 

I did not follow the actual contest, although I do remember a bit of emails at time of the contest, and of course a lot of emails from the last few days promoting this. But looking at the results as posted by fxshare in post #32, a 52.61% maximum drawdown does seem rather high.

Update on EU H4 chart: if you look at the chart right now, it seems we have missed an entry yesterday. But in fact, NO, it did not qualify at the time.

 

Let me explain: the 3 red candles you see yesterday/today, the first candle starting at 8:00 alpari UK time (7:00 London time), at the time the first 2 candles were formed, the top channel line of D1 channel was still much lower. So the close of these 2 candles were still "above" the channel line, and therefore they were not valid as entry signal candles. Finally the channel line jumped up, and we got a 3rd red candle. So I think this is the first qualifying candle, IF the next candle breaks the low of this red candle. But the next candle never went down further. Now the price is moving back up again.

 

I assume if price moves back down and take out the low of the last red candle, or if there is a new red candle to be formed further up (but still close below the top D1 channel line), and then price take out the low of that candle, then a valid trade may occur.

 

Personal note: This "belated" moving of the channel lines may eventually cost us going into a valid trade at a less favorable price, but it also seems to "filter" out potential bad trades. So I guess the eternal struggle of all trading methods is also true here: do we go in early with smaller stop-loss and better reward-risk ratio but lower win-loss ratio, or do we go in later with higher win-loss ratio but larger stop-loss and worse reward-risk ratio.

Doesn`t Mark update his Trading journal?

 

He did just yesterday for the trading results page. But he has not been to the t2w thread for a while.

Well, the last H4 signal (post #34 above), eventually retraced back above break-even (I assume anyone in an actual trade will move stop to BE after price moved more than the initial stop distance of 80 pips).

 

Currently, there is a new red Yin-Yang, and 2 red dots (on 1HR, and 4HR). But EU is still moving mostly upward. Not only has there been very few red retracement candle (only one since Monday start of session), the price is above the top D1 channel line. So no likely set-up at the moment.

 

As I only need to check every 4 to 8 hours, I will be stalking this one, and report back if anything seems to qualify.

 

The best case scenario will be wait for price to to rise so much that even the D1 chart will trigger a red Yin-Yang and begin to wait for a change trend back down.

 

We'll see.