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Firebird EA - fixed version -

  • #1,061
  • Sep 26, 2006 6:14am Sep 26, 2006 6:14am
Quoting dscott5912
nvwine / wakena -

I just spoke with both IBFX and FXDD. Here are their policies on getting a margin call.

IBFX's Policy: If Margin level drops below 50%, IBFX will begin randomly closing open positions until Margin level goes above 50%.

FXDD's Policy: If Margin level drops below 80%, all open positions will be closed.

Now, with regards to fb v1.0c... is there a minmargin level that the ea will not trade below? If not, can that be included in the code?
dscott5912,

I got your PM.

In v1.0c, you need to monitor Margin Level % manually to avoid margin calls from broker.

In v1.0c1, the EA auto-monitors Margin Level %. will stop opeing new trades if margin level % falls below the Input MinMarginLevel setting. This does not eliminate the danger. If MinMarginLevel is set too close to Broker's margin call level (ie; FDXX 80%), then existing orders that increase in negative float, can still initiate the margin call. This is why, my MinMarginLevel setting is 250.

v1.0c1 should work OK on standard and mini accounts to control margin level %.

Wackena
  • #1,062
  • Sep 26, 2006 8:26am Sep 26, 2006 8:26am
While waiting for some capital funds to arrive in the next few days, I was set to open a micro account with IBF. Was planning to start initially with $300 with a micro set up.

Have had great sucess with a 5k demo on IBF using FB 1.0a with the EURUSD, USDCHF and USD/CAD which resulted in at least a $1000 play profit for three weeks of trades.

If IBF not good for low capital trading and that FXDD is more dependable, what have you atribute this to, just the servers?

Thanks.


Quoting Gleneagles
I have run various demo accounts with the same settings on both F X DD and
I BF x,starting them at the exact same time and in each instance the F xd D
ones came out ahead.

I understand that data and servers may vary but will go with most of my bucks placed in the platform that performs best on demo and then carefully monitor the live accounts.
  • #1,063
  • Sep 26, 2006 9:03am Sep 26, 2006 9:03am
I cannot give you an answer or an explanation simply because I have no idea what the real reason is.

There could be quite a few logical reasons but unfortunately I am not an expert and can only comment on what I have experienced with both platforms on demo trading.

I have not traded the FB in a live account with either of them.....

Not much help.....maybe some of the IT Einsteins can provide some insight.
" Never let the past hold the future to ransom "
  • #1,064
  • Sep 26, 2006 5:04pm Sep 26, 2006 5:04pm
WHO HOOOOOO!

After three stressful weeks I finally broke into profit equity on my live IBFX account..... Knock on wood.

Trading EURUSD, USDCHF, USDCAD, and USDJPY on M5 charts. Version FB v1.0a. Going around the clock. 24/7 (or at least 24/5).

Holding my breath.
Don Life is expensive, but includes a free trip around the sun.
  • #1,065
  • Sep 26, 2006 5:14pm Sep 26, 2006 5:14pm
That's awesome, Don! Way to go!

Quoting traderone
WHO HOOOOOO!

After three stressful weeks I finally broke into profit equity on my live IBFX account..... Knock on wood.

Trading EURUSD, USDCHF, USDCAD, and USDJPY on M5 charts. Version FB v1.0a. Going around the clock. 24/7 (or at least 24/5).

Holding my breath.
  • #1,066
  • Sep 26, 2006 10:21pm Sep 26, 2006 10:21pm
Quoting dscott5912
That's awesome, Don! Way to go!
That's cool...but I have reverted back to manual trading as when there is a strong trending.
  • #1,067
  • Sep 27, 2006 8:19am Sep 27, 2006 8:19am
I'm still using fb v63g-ts with good success. So far since 8/29 with a $5k demo at ibfx using 4 pairs I'm up a total of $1047.31 with about $85 in open orders. All trades are mini lots. This ea needs to be managed somewhat, you just can't let it run in my opinion. I'm also running another test on this ea on 3 pairs on an alpari $10k account. Banked 81 pips yesterday and all orders closed. I think the trailing stop is the way to go here.
  • #1,068
  • Sep 27, 2006 8:41am Sep 27, 2006 8:41am
Coolhand,

what are your Takeprofit and trailing stop settings for the TS version?

Seems like we would have to set the TP for higher than usual. Thanks for any advice.
Don Life is expensive, but includes a free trip around the sun.
  • #1,069
  • Edited 10:04am Sep 27, 2006 9:17am | Edited 10:04am
Traderone, my settings for the ibfx test, 4 pairs, eur/usd, usd/chf, usd/cad, nzd/usd, m5 chart, tp=50, sl=300, ts=20 pipstep=40. I have money management set to true. On the alpari test, see the attachment, I'm using 3 pairs, eur/usd, usd/chf, usd/cad, on m5 chart not the m1 as suggested in the attachment, and money management set to true also. I should also mention that my ts is set tight here, 17 for the euro, 20 for the chf, and 16 for cad. I based these values on the tp -5.

Quoting traderone
Coolhand,

what are your Takeprofit and trailing stop settings for the TS version?

Seems like we would have to set the TP for higher than usual. Thanks for any advice.
Attached File(s)
File Type: txt Info.txt   < 1 KB | 470 downloads
  • #1,070
  • Sep 27, 2006 10:48am Sep 27, 2006 10:48am
I am going live with IBFX in a week or so with a small mini account. What pair, or pairs would be a good starting point. I am looking to start with 1 or 2,trading micro lots, and move up as funds increase. Should I use pairs that have no correlation, or does it not really matter. It seems that everyone is mostly working with EURUSD, USDCAD, USDCHF, but what if the US$ started trending, wouldn't the 3 pairs I mentioned also trend?? Putting you and Firebird on the sideline?? Or worse, left with a blown up account?

Rusty
  • #1,071
  • Sep 27, 2006 11:32am Sep 27, 2006 11:32am
Quoting rusty105
I am going live with IBFX in a week or so with a small mini account. What pair, or pairs would be a good starting point. I am looking to start with 1 or 2,trading micro lots, and move up as funds increase. Should I use pairs that have no correlation, or does it not really matter. It seems that everyone is mostly working with EURUSD, USDCAD, USDCHF, but what if the US$ started trending, wouldn't the 3 pairs I mentioned also trend?? Putting you and Firebird on the sideline?? Or worse, left with a blown up account?

Rusty
Hi Rusty,

A trending market will kill any firebird. The beauty of those three pairs is that even though they do trend, they don't hang around at the extremes as much as others, like the GBPUSD, do. They tend to return to the median, which is where your firebird will pick up pips.

Right now I'm running two demo accounts. One is running 63G TS, the other 63G.

63G TS is trading USDCHF, USDCAD, and EURUSD on a 5M timeframe. It has net profit of $1200, including a $700 floating loss. No losers, running for about two weeks.

63G is trading USDCHF, USDCAD, EURUSD, GBPUSD, and USDJPY, on a 1M timeframe. It has net profit of about $1200, including a $800 floating loss. 4 losers, all GBPUSD, again running for about 2 weeks.

Back to your question, I'd run firebird 63G TS on a 5M chart, with USDCAD, USDCHF, and EURUSD.

Remember, always think safety first. You want to stay in the game, and the while the GBPUSD can give you a lot of pips, it also has a very healthy appetite for firebirds! Chews them up and spits them out.

Just my 2.

regards,
  • #1,072
  • Sep 27, 2006 12:31pm Sep 27, 2006 12:31pm
forexpips,

I am demo-ing 63GH03_TS on 1min Time frame, trading EURUSD, AUDUSD, USDCAD, USDCHF. It's not a serious demo, I have been messing with settings as it goes. But aside from loss due to incorrect SL, and too many open trades for my account size when things went a little wacky this past Tuesday (Margin Calls :surprised ) it has been a nice up hill climb . I think next week I am going to go for a more 'hands off' approach, as far as settings go. And see how the results go.

As far as 1min vs 5min, many people talk about using the 5min. Other then using a different chart what other changes to the setttings would I have to do??

Rusty
  • #1,073
  • Sep 27, 2006 12:47pm Sep 27, 2006 12:47pm
Quoting rusty105
forexpips,

I am demo-ing 63GH03_TS on 1min Time frame, trading EURUSD, AUDUSD, USDCAD, USDCHF. It's not a serious demo, I have been messing with settings as it goes. But aside from loss due to incorrect SL, and too many open trades for my account size when things went a little wacky this past Tuesday (Margin Calls :surprised ) it has been a nice up hill climb . I think next week I am going to go for a more 'hands off' approach, as far as settings go. And see how the results go.

As far as 1min vs 5min, many people talk about using the 5min. Other then using a different chart what other changes to the setttings would I have to do??

Rusty
Yeah thats' the real trick. When to intervene, and when to let your firebird soar on its own. The real key I think, to having this EA work.

As far as changes, using 1M vs 5M, all I changed was the chart. All other settings I left the same.
  • #1,074
  • Sep 27, 2006 1:23pm Sep 27, 2006 1:23pm
Horace, you nailed it! You cannot just start this ea and expect it to make you money without some management, such as turning it off during news announcements, or what I do is turn it off when I'm not trading, such as overnight. I never know what might happen during the UK open or what news will be released. Some have said to never close open orders, it results in lost profits. My experience is closing orders in the black now is better than hoping the ea will close them later in profit. That's one reason I like the trailing stop more than the fixed tp. I'm still researching accrete's idea of creating an ea that will determine market conditions and start the appropriate ea to meet those conditions. I don't think it can be done now, but maybe in the future?

Quoting Horace Kent
Yeah thats' the real trick. When to intervene, and when to let your firebird soar on its own. The real key I think, to having this EA work.

As far as changes, using 1M vs 5M, all I changed was the chart. All other settings I left the same.
  • #1,075
  • Sep 27, 2006 1:28pm Sep 27, 2006 1:28pm
Quoting coolhand
Horace, you nailed it! You cannot just start this ea and expect it to make you money without some management, such as turning it off during news announcements, or what I do is turn it off when I'm not trading, such as overnight. I never know what might happen during the UK open or what news will be released. Some have said to never close open orders, it results in lost profits. My experience is closing orders in the black now is better than hoping the ea will close them later in profit. That's one reason I like the trailing stop more than the fixed tp. I'm still researching accrete's idea of creating an ea that will determine market conditions and start the appropriate ea to meet those conditions. I don't think it can be done now, but maybe in the future?
I agree with you even though it is an ea you have to monitor it. I also close trades when they are of decent profit because I have seen it go from profit to a loss rather quickly so I beleive if it is properly managed this is a winning ea its worked for me rather well on certain pairs. just my 2 cents.....Valerie.....

i
  • #1,076
  • Sep 27, 2006 4:26pm Sep 27, 2006 4:26pm
I traded live on IBFX micro 0.1 with 200$ only from 25.08 till 22.09 using 10 usual pairs (no GBP/USD). I used FB 1.0b2 on 5M chart, 1.0 percent.After one bad week from 4-9.09 I removed all USD pairs and GBP/CHF. I found that these pairs: EUR/CHF,EUR/GBP,CHF/YEN,AUD/CAD,EUR/CAD gave me the net 1820 pips with -310 floating actually around 80% of profit.These pairs as cross-currencies do not trend as the USD pairs,so most of time stay in range.As Firebirds is the best in range market I think this could be a good way for constant profit and safe trading without stress.
I will be away from trading till 10th October and then I will add another 700$ and trade again only these pairs.Besides I will demo the same pairs using FB 1.0b3 and will post my results.
  • #1,077
  • Sep 27, 2006 5:27pm Sep 27, 2006 5:27pm
Goran,


Despite the success with trading the cross pairs, isn't your bottomline ultimately affected by the USD (assuming your base currency is in USD)? So for example, if EUR/CHF ranges with a nice profit, isn't there the potential of that profit being erroded if the USD is falling?

R,
Alan
  • #1,078
  • Sep 27, 2006 5:54pm Sep 27, 2006 5:54pm
Quoting goran
I traded live on IBFX micro 0.1 with 200$ only from 25.08 till 22.09 using 10 usual pairs (no GBP/USD). I used FB 1.0b2 on 5M chart, 1.0 percent.After one bad week from 4-9.09 I removed all USD pairs and GBP/CHF. I found that these pairs: EUR/CHF,EUR/GBP,CHF/YEN,AUD/CAD,EUR/CAD gave me the net 1820 pips with -310 floating actually around 80% of profit.These pairs as cross-currencies do not trend as the USD pairs,so most of time stay in range.As Firebirds is the best in range market I think this could be a good way for constant profit and safe trading without stress.
I will be away from trading till 10th October and then I will add another 700$ and trade again only these pairs.Besides I will demo the same pairs using FB 1.0b3 and will post my results.
Goran.... what settings are you using with FB 1.0b2 for your cross currencies. For example, TP, SL, and Pipstep? Thanks for any comment.
Don Life is expensive, but includes a free trip around the sun.
  • #1,079
  • Sep 27, 2006 8:09pm Sep 27, 2006 8:09pm
hi, im new to this EA stuff so can someone answer some of my questions:

1- how do i use an EA?(im guessing MT4)
2-will it work with Oanda?
3- can someone give me a link to explain some of this to me and give me a better idea about EA's?

And thanks
Egyptian and proud of it!
  • #1,080
  • Sep 28, 2006 12:43am Sep 28, 2006 12:43am
Quoting traderone
Goran.... what settings are you using with FB 1.0b2 for your cross currencies. For example, TP, SL, and Pipstep? Thanks for any comment.
Hi Traderone,sorry if I am late with the response but I just got up now as I am on CET time. I used 30/300/30 but I will change to TP25 for EUR/CHF and EUR/GBP.I think as well about changing max order from 3 up to 5 for EUR/GBP.
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