Discuss ForexMorningTrade.com (Mark Fric)

[Littlepip]

Trading time of Turbo and FMT that I've been using are 30 minutes earlier.
Therefore FMT is at 6:30 (for IBFX), I'm using 6:00 - 6:30.

I always had better results with FMT 30 minutes earlier.

Turbo has much better results than FMT.

I use 40SL, 20BE, 0,0,0, 35TP, 50% (instead of 60% so that it if the trade goes either way for the 1st half or 2nd half, it will be even), Exit 1, ATR trailing stop.

 

[FXCO]

I wouldpost my results but for some reason I am not allowed to post attachments here, maybe to do with rank I dont know. However I consistently get better results with standard version, no idea what I am doing wrong lol.

 

[Littlepip]

I wouldpost my results but for some reason I am not allowed to post attachments here, maybe to do with rank I dont know. However I consistently get better results with standard version, no idea what I am doing wrong lol.

Make sure you check the lot sizes. I backtested tonight with the new version and couldn't figure out why Turbo was making less, and it was because of the lot sizes. Max lots in the default settings are set to .5 which is testing at .50 cents/lot.

I also use a 30 minute earlier trading time.

 

[FXCO]

How did you do this last trade Littlepip, I ended up with about the same profit as I would have normally, mine is set to ATR trailing with 60% at 35 pips.

 

[Littlepip]

ATR isn't set to 60%.

I use all default settings, with the following
40SL, 20BE, 0, 0, 0, 35 TP, 60% closing for 1st profit, Exit 1, ATR true.

Someone else said they are using close with pips for 2nd level, so I have to try that.

 

[FXCO]

Yes I meant 60% closing for first target not ATR.

 

[Littlepip]

Decided to change settings slightly based upon the FMT forum and more backtesting:
FMT original, trade at regular time: 40SL, 25TP, 7 add pips.
The regular trading time is more profitable with less losses with 25 TP. Though I only backtested from Oct. 31. Someone on the forum is using the 25 TP and getting consistent results.

With Turbo FMT: trading time 30 minutes earlier range 6-6:30,
40SL, 24BE, 7 Addpips, 35BE, 7Addpips, 35 TP, close at 50%, Exit 1, ATR True.

I figured the BE's and Add pips would save more profits, and backtested Oct. 31 to present, it had remarkable results.

 

[f-man]

Would you recommend a beginner to go for it?

Hi everybody.

I got interested into Forex after a friend of mine told me he invested some money in a Managed Account service and is now earning well.
I don't have a big capital as him to invest, so I decided to try to trade myself with a small amount.
I don't know much about Forex, but I am reading a lot. So many things to learn in this field... I like it!

Is this product something that a beginner could use as well? Autotrading sounds nice, but I see a lot of adjustable parameters and settings to change. I would use this in autotrading mode of course.

Would you recommend it for a beginner?
:err:

 

[Littlepip]

Yes, by all means go for it, but with any EA start with demoing it for awhile. Learn how to backtest different settings. Then go live and start with a small risk to see how it performs live. All EA's perform differently live than demo and backtests. I've only been doing forex since July. I also suggest getting on several forums that use the same EA to get other people's opinions on settings and risk. Donnaforex is good and also Trade2Win.

 

[f-man]

I am on board

ok guys I have purchased the system!
I went through the manual. Really piece of cake. I was expecting something much more complicated.
I have to go through the forum again, because yesterday I was reading things to set and so on.
I will post the questions!