Forex Morning Trade is an expert advisor that looks quite promising. After reading multiple reviews from real users who swear by it, I decided to take the plunge and buy it. I also bought the more advanced Turbo Forex Morning Trade. I have 60 days to try them both out and can return them for a full refund for any reason, no questions asked. I decided to purchase the Turbo version because it offers a plethora of options to handle different profit targets, tracking trailing stop losses by actual pips or a combination of ATRs and much more. All these options are a dream come true for a geek like me.
The way FMT works is quite different from most EAs. It is designed to trade only one currency pair, the GbpUsd, and only during a brief period at the opening of the London session. For example, I have set Turbo FMT to operate from 6:15 a.m. to 6:30 a.m. London time, or 1:15 a.m. to 1:30 a.m. EST. The EA may or may not generate a signal during that 15 minute period. If generated, it automatically places an order in accordance with the signal. If the order isn't executed before 6:30 a.m., then it is cancelled and we try again tomorrow.
I opened two $500 demo account with FinFx. One is running FMT with the settings recommended by its creator Mark Fric. The other is running Turbo FMT with setting customized by myself. Although it was recommended to not trade today, I decided to go ahead and put the system to the test. FMT did not generate any signals, but Turbo FMT generated a buy signal. It purchased 0.17 lots of the GbpUsd. Several hours later the trade was closed at break even. At one point, we were 27 pips in profit, a bit over $45.90. The market turned on us and we got stopped out at our entry price. When I last checked, the GbpUsd was down 49 pips or a bit over $84.00. So, we didn't make any profit but we also did not suffer that huge loss (almost 17% in just one trade).
I will make a new page to track the performance of this EA. I think it will be quite exiting in the long run.