Forex Morning Trade

[hedgehog]

I entered the trade at 1.6122 (same with the author) the market moved up to 1.6143 which move stop to BE level then it reversed down stop out at BE before continuing move upward.

 

Ah.... I see.

[acosma]

To all, what risk setting do you use ? sometimes I use 10% :-), on mondey and friday 5%

[Diesel 10]

Hi kdjon,

 

I think here is what you looking for:

http://indo-investasi.com/showthread.php/8740-FX-M0rning-Tr-de-EA

 

Above link was for a thread that apparently no longer exists. Can some one please give me a valid download link (prefer mediafire) for the original EA without trailing stop and breakeven? I am having problems getting the fancy one to work with my 5 digit broker MBT. I'd like to just go with the EA that stops out the trade either 40 pips profit or 40 pips loss (or No Trade). Thanks!

[Cracken]

Copied from another post about trade manager but with extra input :"> ... There's a trade manager called tiber from donna's forum with the title "An Ea that controls the orders opened by other EAs or manually opened ones". For those who don't want to register, get it at http://depositfiles.com/files/055yjivum

This tiber trade manager was written specifically for the FMT system but could be used with other systems as well according to the author. There seems to be a bug with the NewStopLoss parameter though. If you don't set SL in FMT, the tiber EA will set it as 0.0040 instead of the proper values.

Edited November 5, 2010 by Cracken

[pro]

Oh man, I missed this thread....Is someone so kind to pm me regards this EA and manual? TIA

[junglist00]

interesting stuff, i was messing with version that have BE functionality - default, caused most of my trades to close out at break even... so what i did was just moved my TP to 20 , don't trade on Monday mornings ... results ok . aleast 1 requote that trade did not go thru.

[yan7181]

can someone pm me the EA?thanks alot.

[mopips]

I'm a little confused now with the time change. I understand this is supposed to start 1.5 hours before London open. According to internet, London open is at 8:00am GMT. So, 1.5 hours earlier is 6:30am GMT. So, I would think it should start at 6:30am GMT all year around since GMT doesn't change due to DST, right? But, I had heard it was supposed to start at 6:30am London time which was 5:30am GMT before the time change. That would be 2.5hrs before London open GMT. Now with the time change London time is the same as GMT, but London open is still at 8:00am GMT? That means the strategy starts 2.5 hrs before London open (GMT) all year around?

[mopips]

Thinking about this some more... Is it supposed to be 1.5 hours before London open in London time? That would make more sense. That means it would trade at 5:30am GMT time (6:30am London time) during the summer and 6:30am GMT time (6:30am London time) during the winter.

[expat1967]

Thinking about this some more... Is it supposed to be 1.5 hours before London open in London time? That would make more sense. That means it would trade at 5:30am GMT time (6:30am London time) during the summer and 6:30am GMT time (6:30am London time) during the winter.

 

I trade it at two entry times, now 6GMT and 6:30GMT and have split the risk in half.

 

Cheers

[joeytrader]

mopips, since the first version of the ebook, the author has since then fixed the starting time at 6:30 am London time. So it is no longer based on GMT.

 

I already posted this back in post #29, in the author's own words from this trading journal:

. . . entry time again: to avoid confusion we should define the entry time to 1 and half hour before London open.

 

And also recently in post #190, copied from the author's slightly revised ebook:

Trading time explained

 

As I said, we need to enter the 1 and half hour before London market opens, which means at 6:30 UK time all year round, or 01:30 EST time (summer), respectively 2:30 EST time (winter).

 

Hope this helps.

Edited November 9, 2010 by joeytrader

[joeytrader]

Trading times per different brokers

 

It seems throughout this thread there have been recurring questions surrounding the official trigger time.

 

So, I have copied directly from a recent email the author sent, perhaps this table below will help some of you:

 

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

2. Change of Trading Time

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

 

US changed the time and that again influenced some of the brokers.

The list of brokers with their correct trading times:

 

ActivTrades - 07:30

Alpari UK - 07:30

Alpari US - 07:30

ATC Brokers - 01:30

CMS UK - 06:30

CollectiveFX - 07:30

FastFX - 08:30

Forex.com - 06:30

FxCBS - 08:30

FXCM - 06:30

FXDD - 08:30

FXJE - 08:30

FXOpen - 08:30

FX Primus - 08:30

FxPro - 08:30

GallantFx - 06:30

GoMarkets - 08:30

InterbankFX - 06:30

MB Trading - 01:30

NordFX - 07:30

PFG Best - 08:30

Prime4x - 08:30

ThinkForex - 06:30

 

 

You can also check a screenshot of my todays trade to check your settings - you can compare the candles to make sure you are entering at the correct time.

 

You can see the screenshot here:

http://www.forexmorningtrade.com/abc123/8th_nov.jpg

 

So this table should be valid until the next time when daylight savings times (for the northern hemisphere) kick in again.

 

I am lucky that I use Alpari UK metatrader for my demo account. Once you set it up correctly, you do NOT need to change anything ever to adjust for daylight savings. Apparently Alpari UK has made their broker time move together with London's time. Great for a lazy trader like myself.

Edited November 9, 2010 by joeytrader

[PIPHORE]

joytrader,

 

do you know what's the reasoning behind the author moving SL to BE and TP to new level? Coz I see there is no problem with old one (SL to BE = 24, TP = 40)?

[joeytrader]

joytrader,

 

do you know what's the reasoning behind the author moving SL to BE and TP to new level? Coz I see there is no problem with old one (SL to BE = 24, TP = 40)?

 

Hi PIPHORE, I think it first started when members on the author's thread recording his journal started experimenting with different settings. And back in October, there were some obvious cases where price moved into profit over 35 pips, then retraced without hitting the 40 pips target. So the author started doing some more backtesting with different profit target.

 

The first time I found out about this change was from the author's email dated 1 November, and his explanation was very brief, simply:

I made some more tests during the October and I found out that we'd

be better off by trading with slightly smaller Profit target.

 

MY NEW RECOMMEND SETTINGS are:

 

StopLossPips = 40

ProfitTargetPips = 35

BreakEvenAtPipsProfit = 20

TrailingStopPips = 0

 

I'm going to use these settings from today.

 

This is all that I know. I do not know how many months/years did he backtest this. But since his version is obviously the official version, I assume his newer settings should be more profitable in the long run. [i remember seeing someone on the author's official journal mentioning higher profit figures with the new settings, when backtested. But I do not remember the actual figures.]

 

Also, the author did not say the old settings are bad, it is merely the newer settings are better.

[hedgehog]

Hi PIPHORE, I think it first started when members on the author's thread recording his journal started experimenting with different settings. And back in October, there were some obvious cases where price moved into profit over 35 pips, then retraced without hitting the 40 pips target. So the author started doing some more backtesting with different profit target.

 

The first time I found out about this change was from the author's email dated 1 November, and his explanation was very brief, simply:

 

 

This is all that I know. I do not know how many months/years did he backtest this. But since his version is obviously the official version, I assume his newer settings should be more profitable in the long run. [i remember seeing someone on the author's official journal mentioning higher profit figures with the new settings, when backtested. But I do not remember the actual figures.]

 

Also, the author did not say the old settings are bad, it is merely the newer settings are better.

 

joeytrader,

 

is it safe to assume that you purchased the system as you are receiving e-mails from the developer?

[murtamad]

Hedgehog, you could sign up for their newsletter. Seems you'll get the same info as joeytrader did. I had signed up for so many that I've overlooked some, including FMT. Anyway, the last one I received was the same one that joeytrader posted. It mentioned that there was an update to the EA as well:

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

1. EA updated to 4.1

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

 

I found a small bug in the EA version 4.0, the problem was that at some special circumstances it would not trade exactly according to the rules of manual system, it lacked one condition.

These circumstances happen only rarely, anyway I advise you all to download the new EA 4.1 that has this corrected.

 

This doesn't affect manual traders.

 

You can download the EA from Members Area as usual.

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

 

Perhaps those who received the update could share it.

[joeytrader]

joeytrader,

 

is it safe to assume that you purchased the system as you are receiving e-mails from the developer?

 

Although as murtamad also pointed out, you can get the author's email updates even without purchasing the system, but in my case I did purchase FMT back in August.

 

I think I started sharing the original FMT with a thread started on 8-26-2010. But that thread was later moved or removed. That was before this current thread started. It was only later did I find out FMT was black-listed. That was probably why the original thread was removed from the public forum space. But with the interest of keeping this current thread alive as possible space to discuss the FMT, without violating the black-list rules, I removed all my download links from this thread. I do not want to get in trouble with the moderators on this wonderful forum.

[murtamad]

My apologies, Joeytrader, for putting you in a spot. I had not noticed that it was black listed. Much much apologies.

[joeytrader]

My apologies, Joeytrader, for putting you in a spot. I had not noticed that it was black listed. Much much apologies.

 

No apologies needed. I didn't find out about the black-listing bit until very late myself.

[Sesshoumaru]

Today no trade, at least on fxpro. But I think it's a pretty safe short trade, anyway, I didn't take it. Anyone has any other signal or not?

[marc1713006104]

no trade today mom indi to low...

Will not trade,will let FMT do its thing.

Regards

[robotfx2]

anyone have the latest updated version for share ???

[German]

Its on the Black List so it can not be shared here.

[cubicrey]

Hi,

 

Today the long trade is B/E and today is quiet here. .......................................

[cubicrey]

Hi,

 

May I know which MT4 Broker always having the server time same with London.

 

Thanks

 

Regards

 

R