ForexMorningTrade.com Review

Hello,

I would like to announce that the sales of Forex Morning Trade has been stopped.

The main reason is that I'm not trading it anymore because of moving my focus to another things and trading systems
(FMT was just one system I traded, I prefer and recommend having a portfolio of trading systems)
and I'm unable pay my full attention and to provide a level of support the product requires.

The FMT performance was not really good in 2011, but the system has very good results again in 2012 - as you can see on the FPA EA performance tests page.

I would like to thank everybody who purchased the system.
The idea behind the system is still valid, it just perhaps requires putting some effort into it and tweak it.

Mark Fric
ForexMorningTrade creator

I've read numbers of bad reviews from systemsfortrader.com and I wrote an email to the creator to ask why they've stopped selling the system below is his reply. Hope this review can help others to shorten the time to study/investigate this system.

***QUOTE***
Hello Kelvin,

the truth is that the performance of FMT wasn't quite satisfying in recent months, so I stopped trading it. I tried to optimise the setting several times, but it brought only partial ans short improvements.

I still think the system have a potential, but I'm quite busy right now to pay my full attention to it.

I'm working on my 2 other projects - Genetic BVuilder and the new one Strategy Quant EA wizard, which allows you to build your own EA with full source code without programming.



Best Regards,

Mark Fric
http://www.ForexMorningTrade.com
***UNQUOTE***

Forex Moring Trade - Fails to Perform As Promised.

The good - timely responses to my email support requests.

The bad - Absolute statements made about absolute performance. Here are just three from the website (and cached from when I purchased it):
"...take you maximum 10 minutes a day giving you consistent profits month by month..."
I’m very confident that Forex Morning Trade system will help you start making real money in the Forex market.
I use the system myself, and you can see how successful it is for me in the results.
The system is very easy to use, so there is no reason why you shouldn’t get the same results as me..."

And the outcome? Simply another EA with mixed results and net losses. He made absolute statements about performance and those statements were not a reality for me. Maybe the experience of others is different and mine is unique.

Sure there are some positive returns for some - but it would appear that this occurs only after tuning, changing and optimizing - constantly modifying the settings and experiementing to set what is working "this week". . And an "optimized" EA is worthless - as it ALWAYS goes out of tune after some brief time period.

Just get on the Trade2Win forum and see how many users in 2011 have appeared to dried up and quit.

This is all just my personal experience and opinion. Do your homework and form your own before you act. I could be entirely wrong about my opinion.

good system very consistent i aim for less pips seen to be more profitable

I just started using this system, I really like the strategy and it keeps me from chasing losing trades all day. I'm trading this manually, with a 1:2 ratio. 40 pips SL, 80 pips TP. I'm moving my stop loss to break even at 40 pips, and at 60 pips moving my SL to 20 pips profit.

As you see in the FPA test of the EA, it has made 30 pips in almost one year. I think that with a 1:2 ratio this will keep the account green for a long time.

The creator - M.Fric - i suspect, posts his results in hind sight. His performance hardly most of the users results. I used to regularly follow the forum on T2W - and it became apparent that MF (creator of this software) waits for a while to post his results on his website. He 'somehow' always seems to get the BEST results. - example - let's say some of hte users report that today's trade was a loss and some report a 'missed' trade - i wouldn't be a surprise for him to post - a 'break even trade' or a 'missed trade' thus inflating the postive results. He's done it a NUMBER of times - and it's not just coincidence.. so my faith in thi product/author is waning... the results haven't been spectacular either.

T2W has a lot of believers/supporters.. and good luck to them.

Plus, he is not even actively participating in the forum (the last time he was on the forum was to peddle somemore junk) and promptly disappeared :-)

Good luck to all who wish to purchase this Piece of *

P.S - I have been using htis for the past 12 months.

Contrary to some results posted here, after 3 months with the robots, losses are around 10% of account balance. However due to the timeline, a refund is not possible. Not impressed with the robot, performance below expectations and not as advertised. However, the forum and customer service was not bad.

I just bought this system based on the comments here. I'm using an IBFX MT4 platform that's set to GMT by default. This is my first week running the EA and so far, I've had 3 losing trades and 1 no trade. I'm not impressed at all with this EA. I'll try it for two weeks to see if it can reverse its losing tendencies and report back here with my results.

I setup and used this EA for about 2 months with good results. Switched to a live account in Feb 2011 and to date (7 weeks) I am up 26%. It seems to be a very good system and backup is very good.It has suffered some losses as to be expected but I dont know of any other EA to perform as well as FMT. Thanks Marc.

so far the best system i've used not only easy to use also very consistent if you want to stay in the forex game and make profit i recommend this system