Firebird EA - fixed version -

Quoting swissly

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Wackena,

Thanks for your explanations, I now see that you had very good reasons for coding like it is; sorry for calling it a bug!
Is my understanding correct, that you actually didn't implement a classical trailing stop routine but code to catch positions very close (5 pips) to target and lock them in? If this is correct then I have one remark: the variable "TrailingStop" is actually a trailing trigger and not the stop itself. The trigger is a one time shot moving the SL to actual ask-5pips. This also means to me that "TrailingStop" does not come into action if you put it at the level of "TakeProfit", you need to have it some pips below. if for example the TP is 30, TS could be set to 25. This would move the SL to TP-10, as soon as TP-5 is reached.

Swissly

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Quoting Autumm

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im rather curious about 1 thing.
why doesnt anyone consider using Mono's individual settings to do more test and confirm it?? it seems very profitable other than the gbp/usd currency..
Am i not seeing something that everyone else is??

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Quoting Benna

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Mono

I am missing you...

What happened to that account that was running from 19 June? How did it handle the draw-down of last week?

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Quoting traderone

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Well let's see. I'm running two pair and have 10 trades open right now on my live mini.

What would happen if you had 15 trades open on 3 pair and .2 minilots?

A little close for comfort I think. Right now I am thinking of adding more pairs and REDUCING my lots in order to spread out the risk/profit.

If I were you (and I know I'm not) I would trade 3 pairs on no more than .1 minilots on a $600 account. Then, after you get some experience with how much cushion you have after say, 3 weeks trading, then you can decide if you can increase your lots or perhaps pairs.

What is the hurry for bigger lot size? Do not even come close to overleveraging your account. Automatic trading works much better that way. After all, this is REAL money we are talking about, not demo.

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Quoting traderone

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Hi Benq.


I have just started using a calculation of .1 standard lots to $2000 of account balance. Or essentially 1 mini lot per $2000.

On my live mini account I am trading .5 minilots per $1000 balance. This is using the M1 timeframe.

I just think this will really help avoid margin calls in those "dark" periods so that in the good ranging times we still have an account to trade with!

I do think however that conservative settings of 30-300-30 or thereabouts on M5 timeframe should allow trading .1 standard lots per $1000 of account. There are just fewer trades with this timeframe.

Hope that is clear as mud

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Quoting coolhell

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hello guys ..

I tried many FB versions but none of them is working , i dont know where's the problem !! I've downloaded many versions and add them to the indicators list in MT4 But when i choose it from the list nothing happens .. So plz someone tell me how to do it .. and THANX A LOT .

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Quoting coolhell

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hello guys ..


I tried many FB versions but none of them is working , i dont know where's the problem !! I've downloaded many versions and add them to the indicators list in MT4 But when i choose it from the list nothing happens .. So plz someone tell me how to do it .. and THANX A LOT .

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Quoting coolhand

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Hey coolhell, firebird is an expert advisor, you need to put them in the experts folder, not indicator.

I wanted to update my trial with v63G-TS. So far for 3 days, +311, -80, for a 74% success rate. I don't know if anyone can beat that success rate trading manually. FB has closed 11 trades, 3 with trailing stop. A little bit better than last week for sure. The experiment continues!

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Quoting wackena

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coolhand,

I added the trailing stop to FB to maximize profits out of trends. For example: t/s=30 is near equivalent to t/p=25. If EA only has t/p, it exits orders at this profit level. But with using t/s, the EA treats t/s as first takeprofit level and if trend continues, additional pips can be made. Using t/s with FB takes nothing away from EA performance, it just increases chance to make additional pips.

Note: As discussed earlier with swissly, If using FBv63g-TS, set t/p above t/s. I suggest setting t/p above expected trends. I use t/p=50. I think setting at 100-150 is a good idea and could allow major pip gains from long reverse trends.

2nd note: For recently started FB EA and how FB handles news events or long trend spikes is determine a lot by when EA was started. Over last 6 weeks, several times I have started same EA on separate Demos, with identical settings, on different days. The results on news event days and strong trends were almost 180 degrees different. For example, one will have sell loses and the other demo will make profits from buys. The longer the Demos run, this effect equalizes out and both perform nearly the same. So judging this EA badly because of short term loses, is not a true evaluation. For me, I critique this EA like I critique my 401K. It is the long haul gains that I want. The last few years, my 401K has seen equity loses of 15-20% during each year. But overall it has gains from year to year. If I can get similar results with FB, I will be happy. Sorry, I'm long winded today.

Wackena

Wackena

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Quoting wackena

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coolhand,


I added the trailing stop to FB to maximize profits out of trends. For example: t/s=30 is near equivalent to t/p=25. If EA only has t/p, it exits orders at this profit level. But with using t/s, the EA treats t/s as first takeprofit level and if trend continues, additional pips can be made. Using t/s with FB takes nothing away from EA performance, it just increases chance to make additional pips.

Note: As discussed earlier with swissly, If using FBv63g-TS, set t/p above t/s. I suggest setting t/p above expected trends. I use t/p=50. I think setting at 100-150 is a good idea and could allow major pip gains from long reverse trends.

2nd note: For recently started FB EA and how FB handles news events or long trend spikes is determine a lot by when EA was started. Over last 6 weeks, several times I have started same EA on separate Demos, with identical settings, on different days. The results on news event days and strong trends were almost 180 degrees different. For example, one will have sell loses and the other demo will make profits from buys. The longer the Demos run, this effect equalizes out and both perform nearly the same. So judging this EA badly because of short term loses, is not a true evaluation. For me, I critique this EA like I critique my 401K. It is the long haul gains that I want. The last few years, my 401K has seen equity loses of 15-20% during each year. But overall it has gains from year to year. If I can get similar results with FB, I will be happy. Sorry, I'm long winded today.

Wackena

Wackena

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Quote

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Crosses Are Best for Range
In contrast to the majors and commodity block currencies, both of which offer traders the strongest and longest trending opportunities, currency crosses present the best range-bound trades. In forex, crosses are defined as currency pairs that do not have the USD as part of the pairing. The EUR/CHF is one such cross, and it has been known to be perhaps the best range-bound pair to trade.

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Cross currencies are so attractive for the range-bound strategy because they represent currency pairs from culturally and economically similar countries; imbalances between these currencies therefore often return to equilibrium. It is hard to fathom, for instance, that Switzerland would go into a depression while the rest of Europe merrily expands.

Quoting BenQ

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Traderone,
If I understand your posts correctly, you're trading 3 pairs, and you would trade 1 mini lot per 2,000. Are you saying then for a 10,000 account, you would enter with .5 lots in each of those pairs. A total of 1.5 lots if each had just one position on? If all three went to a pipstep, you'd have a total of 3 full lots on. Is that right, or am I missing what you're saying?

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Quoting accrete

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Hi there, one thing that i remember through today's reading is there are some that have fine tuned their trading pairs down to basicaly the EurUsd/UsdChf/UsdCad if only going with a few pairs on a smaller account. I am currently demo trading these and don't see any issues to speak of.

During my reading tonight i came across a thread that mentioned this article "Identifying Trending and Range-Bound Currencies", and was wondering if there was data that would support trading such pairs as the crosses. One small snip from the article had this to say which i thought was interesting and maybe applicable for FB? ;
and then continues with this:Comments? Observations in your forward testing of FB? My mind is mush after reading both threads today from beginning to end again, though i do remember someone stating one of these less traded pairs was a sleeper for fb??

Cheers,
Thom

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Quoting Labrat407

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I have tried out the original FB 63G. With Mono's basic settings.
USD/CAD, USD/CHF, EUR/USD, GBP/USD. I used .02 lots per 100 in the account. I increased the lots on the best pairs, then on all others, until they were the same then increased agin like that as $ allowed.

I have posted my results below. I have also included my settings and a template. I really got the EA to the settings I liked after the 19th trade. I also made one trade on the account by accident. I do not know if my results are typical. I took a $500 USD Demo up to $1650 in a month. I only had one real FB loss. The others were from my tweaking or tests early on.

I did not really have a bad week in the last month. I hope this helps. I am using IBFX and this account expires in a day or two, so I am posting now while I can get a good report.

Labrat407

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