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Firebird EA - fixed version -

  • #1,021
  • Sep 21, 2006 1:36pm Sep 21, 2006 1:36pm
Quoting emptycube
hi 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 stuff
MM can calcuate odd lot sizes like 0.12, 0.23 & etc. Some brokers do not allow odd lot sizes. They need either 0.1 or 0.2 or mini accounts 0.01 type. My NF demo does not allow odd lot sizes. No problem so far with IBFX or FXDD. if your broker does not allow odd lot sizes, then UseMM=false is needed and manually set lot size.

Wackena
  • #1,022
  • Edited 4:39pm Sep 21, 2006 1:37pm | Edited 4:39pm
Quoting sm31
Great 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. ;-)
Why 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 lots size used in trading. Try to avoid overleveraging the account.
Don Life is expensive, but includes a free trip around the sun.
  • #1,023
  • Sep 21, 2006 2:00pm Sep 21, 2006 2:00pm
it seems like the FB ver c is working great on NF demo account but not picking up any orders on NF live account not sure why is that so

but the FB ts version is picking up orders on NF live account but not on demo..

odd behaviour :|

i will keep on posting further result on demo and live performance running and NF platform.

it seems like the ibfx works well on all ver..havent test the a and b version on NF platform yet..will try it later...
  • #1,024
  • Sep 21, 2006 2:47pm Sep 21, 2006 2:47pm
I 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
Inserted Code
   if(UseMM==true) 
  {
   Lots=AccountEquity()* Risk/100/1000;
 if( Lots>0.1)
 {
 NormalizeDouble(Lots,1); 
 }
 else NormalizeDouble(Lots,2);
  }
For trading micro 1k lots on a IBFX mini account with $250 in it would this formula end up being:
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?
  • #1,025
  • Sep 21, 2006 2:58pm Sep 21, 2006 2:58pm
Quoting traderone
Why 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.
The purpose of turning off the EA is to control the number of open orders.

I never mentioned anything about "bad trades" in my post. In my opinion there are no bad trades until they stop out. They either stop out or limit out. Although the ones that hang around for awhile can get irritating. What I don't recommend is closing them before they do one or the other. Case in point, I'm sure some people besides me had some rather "old" EUR/USD trades hanging around. Was very tempting to take a 100+ pip hit and dump them 2 days ago, but today was a different story. ;-)

Controlling the # of open orders is what risk management is all about to me. For my account, the number of open trades is equal to about 60% total account risk. In other words, if all my open trades stopped out (statistically *very* unlikely, but still pretty aggressive for me), then 40% of my account remains. Controlling open orders provides me an absolute guarantee that a certain portion of my account is safe at any given time. Reducing lot size is another method for managing risk, but taken alone it isn't concrete. No matter what the lot size, potential still exists for enough float to result in a margin call unless there is a cap on the number of open orders.

Obviously, there is a balance between the number of open orders allowed and the lot size for a given account. We have to allow enough "space" for Firebird to work appropriately, but with guaranteed protection for a portion of our account at the same time. For me, this is where lot size comes into play. As I have it sized now, I can have approximately 12 open orders simultaneously across 3 pairs. This number goes well with my settings, which result in about 3 trades per day. So far it has worked well even though that is a substantially smaller amount than the floating trades I've seen on some of the statements in this thread.
  • #1,026
  • Sep 21, 2006 5:21pm Sep 21, 2006 5:21pm
GMT +8 6am here

completed my forward test with version C on live account - no trade where execute

completed my 4th day forward test with version C on demo

1st day - 140usd
2nd day - 180usd
3rd day - around 100 (got some manual cancelation to)
4th day - around 150usd

initial $ on both live and demo is $1K

still havent figure out why is the live account is not picking up trade as the demo did.. im running on NF platform on leverage 1:500

still need to figure out the problem. i will post the result for the live account once complete its 2nd day test
  • #1,027
  • Sep 21, 2006 8:16pm Sep 21, 2006 8:16pm
Max positions open

<HR style="COLOR: #d1d1e1" SIZE=1><!-- / icon and title --><!-- message -->Greetings, I have tested several versions of Firebird. I woluld like to know if any of the versions have a defult setting for Max positions open?

Furthermore, is there a way to set a limit for the Max positions open?

If not would be good to have a Max positions open tab as a way to limit potential Draw Down.
  • #1,028
  • Sep 21, 2006 8:25pm Sep 21, 2006 8:25pm
Account equity

I have this alert in Expert Tabs in MT4. Account equity: xxxx.xx (a diferent number every time).

Is this affecting my EA? Because I have a few on my charts but nothing is going on. I been waiting almost 3 days.

How can i fix this problem. I cant make the EA deal.
I selected live trading on the EA setup and in the options section of Experts.

Please I need some help. Thank you
  • #1,029
  • Sep 22, 2006 5:31am Sep 22, 2006 5:31am
After a stellar performance earlier ... it seems to be all going the wrong way.

Here are the results for M1 charts.
Attached File(s)
File Type: zip fb63H02.zip   28 KB | 384 downloads
Just my 2 pips worth
  • #1,030
  • Sep 22, 2006 12:13pm Sep 22, 2006 12:13pm
Quoting saltcafe
After a stellar performance earlier ... it seems to be all going the wrong way.

Here are the results for M1 charts.
are you thinking that m5 charts is better than m1 ?

giapel
  • #1,031
  • Sep 22, 2006 1:10pm Sep 22, 2006 1:10pm
Quoting nvwine
I 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
Inserted Code
 if(UseMM==true) 
 {
 Lots=AccountEquity()* Risk/100/1000;
 if( Lots>0.1)
 {
 NormalizeDouble(Lots,1); 
 }
 else NormalizeDouble(Lots,2);
 }
For trading micro 1k lots on a IBFX mini account with $250 in it would this formula end up being:
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?
ncwine, sorry for late response. For some reason that I don't understand right now, the Normalizedouble function is not working as it should. If calculated lot size is over 0.1 the normalizedouble should limit lot size to one decimal place. If less than 0.1, then limit to 2 decimal places.

Also, if Risk=5 and AccountEquity is less than 100, then lot size would be 0.00. At this point, UseMM should be false and set lot size manually.

Can I assume the name ncwine has a North Carolina wine connoisseur definition. I live in NC and enjoy the wines also.

Wackena
  • #1,032
  • Sep 22, 2006 1:33pm Sep 22, 2006 1:33pm
After changing my lot size from .10 to 1.0 in the user input window to attach v1.0c in each chart, I noticed, after several hours, there were 7 positions opened with an acct balance of only 535. Leverage is 1:200.

It caused my free margin to drop down to -8.00 (see attached file)

If this were a live account, I assume all my positions would be closed as a result of a margin call?

I have not seen this same effect with FXDD where it was not necessary to change the lot size from .1 to 1.0. I am curious if this is related to what nvwine and wakena are discussing.
Attached Image
  • #1,033
  • Sep 22, 2006 1:39pm Sep 22, 2006 1:39pm
Quoting nvwine
I 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
Inserted Code
 if(UseMM==true) 
 {
 Lots=AccountEquity()* Risk/100/1000;
 if( Lots>0.1)
 {
 NormalizeDouble(Lots,1); 
 }
 else NormalizeDouble(Lots,2);
 }
For trading micro 1k lots on a IBFX mini account with $250 in it would this formula end up being:
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?
ncwine,

make this change to EA.

Inserted Code
 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);
 }

Wackena
  • #1,034
  • Sep 22, 2006 4:29pm Sep 22, 2006 4:29pm
hmm... 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??
  • #1,035
  • Sep 22, 2006 4:34pm Sep 22, 2006 4:34pm
Nice results HAGeek,

let it run, dont change anything which are working fine

Btw, what version/settings?

FT

Quoting HAGeek
hmm... 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??
  • #1,036
  • Sep 22, 2006 5:27pm Sep 22, 2006 5:27pm
version 1 non hedge.

30-300-30 settings i think.
  • #1,037
  • Sep 22, 2006 5:35pm Sep 22, 2006 5:35pm
Yes, default settings for v1.0a are 30-300-30 unless you have loaded the .set files. Are you using v1.0a or v1.0c? If v1.0a, did you load any of the .set files? Also, what time frame M1 or M5?

Quoting HAGeek
version 1 non hedge.

30-300-30 settings i think.
  • #1,038
  • Sep 23, 2006 3:35pm Sep 23, 2006 3:35pm
Quoting giapel
are you thinking that m5 charts is better than m1 ?

giapel
Hi, I'd say that the M5 results "appear" to be more predictable and certainly work to your advantage. They generate about 10% of the trades that the M1 charts do, which means 10% of the commissions or spreads that are paid to the broker. This can only mean a good thing.

As far as which is more profitable, then I'd have to say that it is too early to tell. Unfortunatelly I had to cancel my M5 test because my broker demo account ran out of time. So I'd have to restart both again from scratch to get a fair comparrison.
Just my 2 pips worth
  • #1,039
  • Sep 23, 2006 9:25pm Sep 23, 2006 9:25pm
can some one tell me how to set GMT and DST ,the firebird v1.0c code is
:

if ( Hour()<OpeningHour+GMT+DST || Hour()>ClosingHour+GMT+DST ) Comment("bad hours."); else { // included by Renato
......
i think it's means open and close account



i want know how to set my GMT and DST ,i now living in China's Beijing Time (the time is GMT+8)

does it means GMT=0 and DST=8 in the code should i set ?

the default setting is here in the code:
extern int GMT = 0; // InterbankFX // included by Renato Changed back to 0 by MrPip
extern int DST = 0; // 0=Standard 1=Daylight Saving // included by Renato
extern int OpeningHour = 0; // included by Renato
extern int ClosingHour = 23; // included by Renato



I'm sorry to my poor english,thanks some body can answer my question.
  • #1,040
  • Sep 23, 2006 10:27pm Sep 23, 2006 10:27pm
Quoting saltcafe
After a stellar performance earlier ... it seems to be all going the wrong way.

Here are the results for M1 charts.
The original settings for FB 63H02 were a TP of 18 and a SL of 42. These settings were not optimal if you go back and read the original thread. Mono's settings of 30-300-30 are what worked best for this version or you can set each TP & SL as set in the 1.0c Individual version for optimal results.

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