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Forex Morning Trade


kdjon

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The FMT EA, unfortunately, is still on the "Black Book List" in the "Expert Advisors" section of the forum.

 

But, fortunately, the author seems to indicate manual trade has actually been doing better than the EA anyway. So we are not losing that much trading without it.

 

Personally, since I cannot use EA on my live account broker, so I have not tested the author's claim.

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I guess the EA does what you do manually anyways. But from experience, when I put the EA on different platform, at times, some get triggered and others don't. It depends on the servers I suppose. Also there are times I close the trades manually instead of letting it hit TP and that has saved me from losses on several occasions.

 

I sincerely believe trading needs judgement and discretion, and cannot be left solely to an EA, unless of course you don't really care if you can make money or not and just like to be entertained by a robot :-)

 

On a different note, perhaps the EA was coded for people who live in time zones that are inconvenient for them to be up and about at that trading hour. I count myself lucky because I am in a time zone that allows me to actually observe price action hours before the trade takes place.

 

Hope that helps.

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In case of manual trade yesterday at GMT 4:30 on some brokers platform the trade has been triggered (momentum clearly above 100), but on some other brokers platform not triggered (momentum clearly below 100). What could be the reason for the mentioned difference in momentum value in different MT4 platforms?
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so what broker do you use?

 

In case of manual trade yesterday at GMT 4:30 on some brokers platform the trade has been triggered (momentum clearly above 100), but on some other brokers platform not triggered (momentum clearly below 100). What could be the reason for the mentioned difference in momentum value in different MT4 platforms?
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In case of manual trade yesterday at GMT 4:30 on some brokers platform the trade has been triggered (momentum clearly above 100), but on some other brokers platform not triggered (momentum clearly below 100). What could be the reason for the mentioned difference in momentum value in different MT4 platforms?

 

Not directly related to your question, but I thought I want to mention that, I may be wrong, but I thought the trigger time is 6:30 am London time, which currently is 5:30 GMT, and not 4:30 GMT?

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Thank you for the feedbacks.

The point in connection of the time zone is good (but for me the backtest results are still acceptable for 4:30 GMT, and that time fits better to my daily time schedule).

Anyway I have realized that because of discussed slight difference in prices the backtest results are also not the same in the different MT4 platforms (using the same mq4 indicator and adjusting the same time zone). Pobably the momentum indicator is very sensitive to the slight price differences.

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I think there are some programming errors in the EA anyway with respect to 5 digit brokers and the trade limits and trailing features. I get good profits on my 4 digit brokers but the trailing and TP failed on all my 5 digit accounts. I think the idea is solid, but I am going to have to write my own EA for this one to make sure it is doing what it is supposed to do. Maybe the new EA is better, but I haven't purchased yet...
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I think there are some programming errors in the EA anyway with respect to 5 digit brokers and the trade limits and trailing features. I get good profits on my 4 digit brokers but the trailing and TP failed on all my 5 digit accounts. I think the idea is solid, but I am going to have to write my own EA for this one to make sure it is doing what it is supposed to do. Maybe the new EA is better, but I haven't purchased yet...

 

It would be great if U could re-write the EA & share

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@joeytrader

 

Also, although I can no longer post the link. If your internet searching skill is good enough, you can try to find the author's own trading journal in another forum. It seems to have attracted quite a active following, with already over 140 pages of posts within 1 month since starting. Browsing through their posts may give you a better idea if this system is what you want.

Would you post this thread here with Mark Fric's trading journal? I guess it's no trade secret so just feel free to post it!

 

Edit:James, I have sent you a pm, please check before your purchase, I have some supplemental notes you may find useful.

You can send this info to me as well or share here on the forum... If it's not too personal. :)

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@joeytrader

 

 

Would you post this thread here with Mark Fric's trading journal? I guess it's no trade secret so just feel free to post it!

 

 

You can send this info to me as well or share here on the forum... If it's not too personal. :)

 

As i do not know how strict (or not) are the moderators about sharing black-listed stuff here on the open forum, it is just safer for me to not post direct links, and ask interested forum members to do an internet search instead. Or follow the following instruction:

 

The trading journal thread is in the T2W forum. Just navigate to

http://[email protected]

and look into the "Trading Journ@ls" section. You can't miss that thread within that section, as it is one of the most active ones there.

 

As to my pm to James, it is nothing personal or big secret, I merely suggested James to check into the trading journal thread mentioned just above, as I suggested to him that reading the posts from actual users there may give him a better idea if this system is right for him before his purchase. I am always a believer in doing some research before making a purchase like this.

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which day does London market goes into daylight saving????

 

please.

 

Currently London is already in daylight saving, which started in Sunday March 28, 2010. Then, London daylight saving time will end on Sunday October 31, 2010.

 

see here:

http://www.timeanddate.com/worldclock/clockchange.html?n=136

 

So that means, on the first trading day in November, Monday 1 November, depending on your broker's practice of setting its broker's time, you may need to be careful of the starting time for the system.

 

For the first day in November, if in doubt, just check the world clock (you can google it) to be sure what time it is in London.

Edited by joeytrader
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