Discuss ForexMorningTrade.com (Mark Fric)

[Dirk58]

hi FXCO

yep, I´m trading the MegaDroid too, great EA.

 

[FXCO]

Dirk how many trades do you find it makes per week and how many trades do you find it wins/loses? Thanks

 

[Fede90]

3x BE (BreakEven)
1x nT (no Trade)
1x 35pips

Hi, hows going with Forex Morning Trade? Is it profitable?
Greetings

 

[Fede90]

In the description where the statement is posted, you wrote, "It goes LONG if 6:15 candle 100<100,8 and CCI>0.... "

I understand what CCI is, but not sure what you mean by "100<100,8" What does that refer to?

Where is the statement? Can you link it to me please?

 

[FXCO]

Day 2- November 18 -40 pips

 

[FXCO]

Day 3- November 19 +35 pips

 

[Littlepip]

I've changed my TP to 31 and SL to 44 to make up for my broker's spread (IBFX). I did some backtesting and the best settings were:
31 TP, 44 SL, 20 BE

Also am using the "extended version" of this EA from a guy on the Trade2Win forum. It trades anywhere from 1/2 hour earlier to 2.5 hours later.
31 TP, 44 SL, 0 BE

Also purchased Forex Breakout Genius. It trades the same pre-London session but with a few different parameters. If you chose the option of extra pips, it will open 2 trades and close out the first one when it reaches 20 pips. Though presently, that doubles the SL. A revised version hopefully will come out soon to close out the trade partially instead. The other option is to not chose the extra pips, and it will open only 1 trade.

It trades 45 minutes earlier than FMT.
40 TP, 44 SL, 20 BE, 20 trailing stop, 20 extra pips (or 0 default).

The extra pips version earned about 225 addl pips. All 3 EA's (FBG with the 20extra pips setting), backtested a total of 933 pips between Nov. 1 - 19th using the settings above. Nice...

Cathy

 

[Littlepip]

This EA is profitable, but also loses about 1/2 the time. I think the best strategy is to use several EA's such as what I described. My backtesting of this EA was disappointing, however I like this better than Megadroid. MD earns a small amount of pips with a higher risk, and MD has a higher SL.

I adjusted my SL a bit higher to compensate for my broker's spread (44) and TP a bit lower (31). 35 is now the suggested setting by the developer.

Earned 102 pips today using all 3 EA's.

You can control the risk of losses with the Break even setting. However the Break even doesn't earn anything, and the use of the additional 2 EA's makes up for it. Of course, you run the risk of double SL's using similar strategies, but in the long run, I'm hoping that one EA will make up for the other's breakeven.

Cathy

 

[Fede90]

This EA is profitable, but also loses about 1/2 the time. I think the best strategy is to use several EA's such as what I described. My backtesting of this EA was disappointing, however I like this better than Megadroid. MD earns a small amount of pips with a higher risk, and MD has a higher SL.

I adjusted my SL a bit higher to compensate for my broker's spread (44) and TP a bit lower (31). 35 is now the suggested setting by the developer.

Earned 102 pips today using all 3 EA's.

You can control the risk of losses with the Break even setting. However the Break even doesn't earn anything, and the use of the additional 2 EA's makes up for it. Of course, you run the risk of double SL's using similar strategies, but in the long run, I'm hoping that one EA will make up for the other's breakeven.

Cathy

Thank you Cathy for your reply, I also if you could tell me how the CCI and the other indicator work 'cause i'm not sure to purchase it. I've bought MEgadroid too but i'm not satisfied and I don't wanna spend other $100 without a very good reason.

 

[Fede90]

I mean, I know what indicators it uses. But for example, If momentum is under 99 is still good?