Important! Change in trading settings!
This month I’m changing the Forex Morning Trade settings. The new recommended setting are:
Trading time = 06:30 UK time (07:30 Alpari time)
Profit Target = 35 pips
Stop Loss = 35 pips
Break Even = 25 pips
BreakEvenAddPips = 5
UseLongCandleFilter = true
The reason for this step is unsatisfactory results using the previous settings, I really didn’t like the negative SL:PT ratio. The new settings are return to the standard 1:1 ratio and I believe they’ll give the best results in the long term future.
There’s one more change, I switched FMT trading from PFG Best to Alpari UK, but that doesn’t mean I don’t like PFG.
I’m simply making some reorganization of my trading accounts. If you use PFG there’s no reason to switch.
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Forex Morning Trade Live account (Alpari UK) |
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1st November – SHORT Entry: 1.6052 PT: 1.6017 P/L: +35 pips |
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2nd November – LONG Entry: 1.59949 PT: 1.60499 P/L: +35 pips |
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3rd November – SHORT Entry: 1.5894 PT: 1.5949 P/L: -35 pips |
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4th November – LONG Entry: 1.60247 PT: 1.59896 P/L: -35.1 pips |
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Weekly summary 2 profits, 2 losses the week ended with -0.1 pip loss. |
| 7th November – NO TRADE |
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8th November – SHORT Entry: 1.60367 PT: 1.60719 P/L: -35.2 pips |
| 9th November – NO TRADE |
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10th November – LONG Entry: 1.59321 PT: 1.58955 P/L: -36.6 pips |
| 11th November – NO TRADE |
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Weekly summary 2 losses the week ended with -71.8 pip loss. |
| 14th November – NO TRADE |
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15th November – SHORT Entry: 1.58778 PT: 1.59129 P/L: -35.1 pips |
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16th November – SHORT Entry: 1.57661 PT: 1.58018 P/L: -35.7 pips |
| 17th November – NO TRADE |
| 18th November – NO TRADE |
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Weekly summary 2 losses the week ended with -70.8 pip loss. |
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21st November – SHORT Entry: 1.57424 PT: 1.57071 P/L: +35.3 pips |
| 22th November – NO TRADE |
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23rd November – SHORT Entry: 1.56156 PT: 1.55788 P/L: +36.8 pips |
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24th November – SHORT Entry: 1.55493 PT: 1.55134 P/L: -35.9 pips |
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25th November – SHORT Entry: 1.54568 PT: 1.54568 P/L: 0 pips |
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Weekly summary 2 profits, 1 loss, 1 BE the week ended with +36.2 pips profit. |
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28th November – NO TRADE LongCandleFilter |
| 29th November – NO TRADE |
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30th November – SHORT Entry: 1.55787 PT: 1.55435 P/L: 35.2 pips |
November result
-72.3 pips