Quoting emptycubeDislikedhi wackena, currently the MM is set to false,
whats the diff when the money management set to true... any effect on the EA and the trade itself...hope u can enlighten me n this stuffIgnored
Wackena
Firebird EA, please test this one, it is one of the greats 1,228 replies
which version of firebird are you using on live account? 12 replies
Firebird V1.0 an amazing EA ! 33 replies
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My firebird is a roast cornish game hen 3 replies
Quoting emptycubeDislikedhi wackena, currently the MM is set to false,
whats the diff when the money management set to true... any effect on the EA and the trade itself...hope u can enlighten me n this stuffIgnored
Quoting sm31DislikedGreat post!
This particular statement stood out to me because I think it is *very* important. My live account has been profitable all the way through this difficult time, and float has never exceeded about 25%. I think the key has been to control the number of open orders. Personally, I'm using the old V63G and I have no interest in an automated form of control in this area. I keep tabs on the number of simultaneous open orders, as well as market conditions, and maintain a number that (if they ALL stopped out) would still not result in a margin call. I believe this is key to the survivability of my trading account... a primary component of successful trading is to "live to fight another day".
This is also my personal opinion, but I think the best way to control the number of open orders is by stopping the EA and allowing existing orders to "flush out" over time. I've stated this many times, and continue to assert that manually closing trades is a bad idea 99% of the time. All the testing I have done indicates that arbitrarily closing all open trades once per week (like closing all orders on Friday), or even once per month, has a quite an adverse affect on profits. Obviously, controlling open orders might not get me the crazy profits we've been seeing in the 80% per month range, but 40% this month is quite acceptable. ;-)
Ignored
if(UseMM==true) { Lots=AccountEquity()* Risk/100/1000; if( Lots>0.1) { NormalizeDouble(Lots,1); } else NormalizeDouble(Lots,2); }
Quoting traderoneDislikedWhy turn off the EA just to flush out the bad trades? You can keep making good trades in the meantime and help out your account equity. There is not a reason to "control" open orders unless the account is underfunded for the lost size used in trading. Try to avoid overleveraging the account.Ignored
Quoting saltcafeDislikedAfter a stellar performance earlier ... it seems to be all going the wrong way.
Here are the results for M1 charts.Ignored
Quoting nvwineDislikedI have an observation / question.
Some brokers such as IBFX have mini accounts where 1.0 = 10k lot and .1 = 1k lot and .01 = $100 lot. Some brokers will not allow you to trade a $100. lot. Some brokers have you enter .01 = 10k lot because they base all entries off full lots. I think this combined with money management may cause some people problems.
The money management code is
For trading micro 1k lots on a IBFX mini account with $250 in it would this formula end up being:Inserted Codeif(UseMM==true) { Lots=AccountEquity()* Risk/100/1000; if( Lots>0.1) { NormalizeDouble(Lots,1); } else NormalizeDouble(Lots,2); }
250 * 5 percent /100/1000 which would equal .0125 this would become a $125 lot I think?
If it was .01 would this become .0? If it became .01 some mini accounts would not accept it.
I could be wrong. Someone explain to me where my logic has gone South. I know on one of my baby test accounts I take a zero out of the formula.
Wackena where am I wrong?Ignored
Quoting nvwineDislikedI have an observation / question.
Some brokers such as IBFX have mini accounts where 1.0 = 10k lot and .1 = 1k lot and .01 = $100 lot. Some brokers will not allow you to trade a $100. lot. Some brokers have you enter .01 = 10k lot because they base all entries off full lots. I think this combined with money management may cause some people problems.
The money management code is
For trading micro 1k lots on a IBFX mini account with $250 in it would this formula end up being:Inserted Codeif(UseMM==true) { Lots=AccountEquity()* Risk/100/1000; if( Lots>0.1) { NormalizeDouble(Lots,1); } else NormalizeDouble(Lots,2); }
250 * 5 percent /100/1000 which would equal .0125 this would become a $125 lot I think?
If it was .01 would this become .0? If it became .01 some mini accounts would not accept it.
I could be wrong. Someone explain to me where my logic has gone South. I know on one of my baby test accounts I take a zero out of the formula.
Wackena where am I wrong?Ignored
if(UseMM==true) { [color=black]Lots=[/color]AccountEquity()* Risk/100/1000; if( Lots>0.1) { [color=red]Lots=[/color]NormalizeDouble(Lots,1); } else [color=red]Lots=[/color]NormalizeDouble(Lots,2); }
Quoting HAGeekDislikedhmm... i am using eurusd, usdchf and usdcad and not yet a losing trade.
started at 5000 demo on 8/31 ish and now at 8761 with -1200 float.
seems pretty good.
should i close some positions that are still open from 8/31??Ignored
Quoting HAGeekDislikedversion 1 non hedge.
30-300-30 settings i think.Ignored
Quoting giapelDislikedare you thinking that m5 charts is better than m1 ?
giapelIgnored
Quoting saltcafeDislikedAfter a stellar performance earlier ... it seems to be all going the wrong way.
Here are the results for M1 charts.Ignored