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Firebird EA, please test this one, it is one of the greats 1,228 replies

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Firebird EA - fixed version -

  • #1,081
  • Sep 28, 2006 6:21am Sep 28, 2006 6:21am
I have a quick question about Firebird.

If I think I have too many open orders for my account size, and my margin is dropping, how do I safely make adjustments to Firebird so it doesn't open anymore orders, but still 'manages' the open orders?
  • #1,082
  • Sep 28, 2006 9:13am Sep 28, 2006 9:13am
Quoting AlanD
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
1820 net pips are generated without USD pairs.That's why I want to trade cross's only to avoid problems with long trends.
  • #1,083
  • Sep 28, 2006 9:18am Sep 28, 2006 9:18am
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.
Some more details about my testing given in one of previous posts:

EUR/CHF 21wins (21 traded days)
EUR/GBP 7wins (10days)
CHF/YEN 20wins (21days)
AUD/CAD 14wins (10days)
EUR/CAD 20wins (15days)
  • #1,084
  • Sep 28, 2006 9:40am Sep 28, 2006 9:40am
Thanks for your updates Goran. These are pairs I had not seriously considered, and a version of Firebird I had not seriously considered. Thanks for bringing them both to mind.

My live account on IBFX and version 1.0a continues to be in profit now. Running on M5 charts. Frankly ALL of my demos of Firebird on EVERY version are profitable, one now for almost 2 months.

Goran, would it be possible for you to detail the open negative trades by pair? That could also be quite illuminating.
Don Life is expensive, but includes a free trip around the sun.
  • #1,085
  • Sep 28, 2006 1:14pm Sep 28, 2006 1:14pm
Real vs. Demo ??

traderone, and all others who have gone live with FB.

Ok, the big question. For the people that have gone live with Firebird, any variation. Using the same settings, same broker, how different are your results from your demo runs??? I am impressed with the demos I am running, and with a watchful eye I feel Firebird will work well for me, but not yet having run it Live I am not sure how well, or not well at all. I am not looking to get rich quick, just a nice steady pace, and with good money management and that watchful eye I should be ok, Unless someone thinks otherwise, please share your experiences with FB Live.

Rusty

PS Also going live with IBFX
  • #1,086
  • Sep 28, 2006 1:53pm Sep 28, 2006 1:53pm
Quoting traderone
Thanks for your updates Goran. These are pairs I had not seriously considered, and a version of Firebird I had not seriously considered. Thanks for bringing them both to mind.

My live account on IBFX and version 1.0a continues to be in profit now. Running on M5 charts. Frankly ALL of my demos of Firebird on EVERY version are profitable, one now for almost 2 months.

Goran, would it be possible for you to detail the open negative trades by pair? That could also be quite illuminating.
On the 22th September I switched off FB (I cannot trade for the next 2 weeks),but I left negativ trades opened.I get IBFX statement every day so I can see what happens.At the moment the float dropped from 310 to 250 pips:EUR/CHF -130 and -40 as well as EUR/GBP -80.
  • #1,087
  • Sep 28, 2006 11:02pm Sep 28, 2006 11:02pm
Question for the people who are running this on live accounts. Will you leave it on tomorrow during CPI and next week during big news events like NFP? Or will you turn it off, and if so, at what point?
  • #1,088
  • Sep 28, 2006 11:20pm Sep 28, 2006 11:20pm
I leave my live account on at all times. That is why I call it automatic trading.

I haven't seen Firebird necessarily hurt by news announcements. Often there is a retracement which seems to add some pips.

I just figure the more I try to outwit the EA, the more I tend to skew the results (good or bad), and the less valid my experience with it becomes.

I just let it rip live with smallish lots at first, until I get an idea how it really works. All my demos are run through all news events also, so I already had some idea of what to expect.
Don Life is expensive, but includes a free trip around the sun.
  • #1,089
  • Sep 29, 2006 7:22am Sep 29, 2006 7:22am
Quoting SoFlPippin
Question for the people who are running this on live accounts. Will you leave it on tomorrow during CPI and next week during big news events like NFP? Or will you turn it off, and if so, at what point?
I've had good success with FB during news announcements. That's when spikes and retracements are likely to happen. For me, whether FB is on or off is detertimined entirely by current exposure and not related to news events.
  • #1,090
  • Sep 29, 2006 7:29am Sep 29, 2006 7:29am
SM31,
Are you saying here that you turn your FB off if your open orders equity reaches a certain value? If so, what calculation are you using? And are you closing any trades manaully, or do you simply turn FB off and let the open orders sort themselves out?
Quoting sm31
I've had good success with FB during news announcements. That's when spikes and retracements are likely to happen. For me, whether FB is on or off is detertimined entirely by current exposure and not related to news events.
  • #1,091
  • Sep 29, 2006 10:58am Sep 29, 2006 10:58am
Guys and Gals,

Please be advised I've been testing v63H04[1] at the level of 1.0 lot (demo, SBFX) for a very brief time (6:35 pm est, Sept 27, 2006). Results have been most impressive. Thus far it's posted 8 straight wins and 144 pips. I revised the settings to reflect the increased risk-to-capital associated with trading full lots, TP is only 18. Weekend's upon us (darn!) so let me test a few more days and I will post the details.

I will say that at 9:00 am est today, I had a negative float of $868 and change; as I write this post at 11:55 am est, today, that negative float is only $329 and change. Translation: trade FB through most news announcements (maybe not NFP?) as the counter-trending principle seems to bring trades back to equilibrium and beyond.

If anyone else is testing or trading full lots "live", please feel free to post or PM me but I'm sure others would enjoy hearing of your success.
  • #1,092
  • Sep 29, 2006 11:28am Sep 29, 2006 11:28am
Quoting MoneyMa$ter
Guys and Gals,

Please be advised I've been testing v63H04[1] at the level of 1.0 lot (demo, SBFX) for a very brief time (6:35 pm est, Sept 27, 2006). Results have been most impressive. Thus far it's posted 8 straight wins and 144 pips. I revised the settings to reflect the increased risk-to-capital associated with trading full lots, TP is only 18. Weekend's upon us (darn!) so let me test a few more days and I will post the details.

I will say that at 9:00 am est today, I had a negative float of $868 and change; as I write this post at 11:55 am est, today, that negative float is only $329 and change. Translation: trade FB through most news announcements (maybe not NFP?) as the counter-trending principle seems to bring trades back to equilibrium and beyond.
If anyone else is testing or trading full lots "live", please feel free to post or PM me but I'm sure others would enjoy hearing of your success.
Thats pretty impressive MM. This ea along with a few others are very promising but I still beleive they need to be babysitted somewhat. So far I have had really good results out of the firebird and the new phoenix on the jpy pairs but I baby sit them to some degree. Of course I'm only on mini lots so I don't guess thats of any help but one thing you may want to think about is that I only go long or short on different pairs; which ever way that you collect positive interest from the daily swap because you can hold a position for awhile but while you wait for it to go your way you get an extra kicker with the positve interest. Just some food for thought. By the way I really enjoy reading your posts on some of the other threads. Have a good one....Valerie.....
  • #1,093
  • Sep 29, 2006 1:23pm Sep 29, 2006 1:23pm
Left my LIVE IBFX Firebird v1.0a running all day today as usual. Did fine and even added a few pips to the fold.

I don't have the kahunas (or the bank account) to run the lots that MoneyMaster is (he is the man), but my account is in good profit now after three weeks. Running on M5 on 4 pair.
Don Life is expensive, but includes a free trip around the sun.
  • #1,094
  • Sep 29, 2006 1:48pm Sep 29, 2006 1:48pm
Quoting BenQ
SM31,
Are you saying here that you turn your FB off if your open orders equity reaches a certain value? If so, what calculation are you using? And are you closing any trades manaully, or do you simply turn FB off and let the open orders sort themselves out?
For me it's just a calculation of risk based on the stop loss assigned to each trade.

I never allow total risk from all open orders to exceed 60% of my account. Knowing that FB is a "counter trend" system, I know I have to allow it the opportunity to pile up a fair number of trades. With that in mind, I have to tailor my lot sizes accordingly. Right now I have my lots sized to allow for about 10 open orders, and I'm currently using 2 pairs (EUR/USD & USD/CAD). I don't interfere with # of orders per pair or anything, just total open orders... and I don't cut profits by closing trades early. ;-) As of this moment, my balance is up 82% and equity has never exceeded 20% since going live on 8/17, so I'm not in a hurry to make any changes.

To me it seems the prime difficulty with FB is protecting profits. We've seen a lot of gold fever on this and the other thread and people have allowed FB to trade their accounts into oblivion without even encountering a stop loss. All in pursuit of 100% (month on month) rates of return. Personally, I think even the 50% I got last month is stupid high and it scares me a little. So probably even 60% total account risk is unwise, but I'm greedy too... ;-)
  • #1,095
  • Sep 29, 2006 2:28pm Sep 29, 2006 2:28pm
sm31,

How are you controlling the total number of open orders? I just turned a $600 demo into $4 overnight when all my open orders got margin called, they just all fell like a house of cards. Thank God it was only a demo!!!! I knew I had way too many open orders and i turned FB off this morning around 10:00 GMT by 17:00 GMT the demo had only $4 left in it. All of this was my fault, I just wanted to see how far it would go. but seriously.... you said you don't limit # of orders per pair, just total order, how are you doing that??

Thanks

Rusty
  • #1,096
  • Sep 29, 2006 2:35pm Sep 29, 2006 2:35pm
Quoting rusty105
sm31,
you said you don't limit # of orders per pair, just total order, how are you doing that??
Rusty
Unfortunately, for me it's just manual. However, it must be my settings but I haven't had trouble with FB opening a large number of trades quickly. Usually not more than 2 or 3 per session, and only then if there is some volatility. I leave it on all night, and have never had any trouble. Although, if I were one trade away from my "max", then I would probably leave it off until I could keep an eye on it. I don't trust this or any other EA enough to leave them truly unattended. The way I see it, FB just makes things easier to manage by doing some of the "busy work".
  • #1,097
  • Sep 29, 2006 4:02pm Sep 29, 2006 4:02pm
hey guys, i just started using firebird. it is really great. but what i don't understand... there are no indicator lines in my chart. sometimes firebird opens a trade, then i see the target profit and stop loss. but i never see, where the next trade will be executed.

can anybody help me? thx

my chart looks like this:
http://rapidshare.de/files/34913985/strat.jpg.html
  • #1,098
  • Sep 29, 2006 5:34pm Sep 29, 2006 5:34pm
You have to have the indicator loaded to see where the bands are.

You can find it at Accrete's site. Look for his posts in this thread and he gives the link. A very nice site for all things firebird. And, you need to read trader seven's pdf on how this works.

I must admit I have not loaded the indicator now for some time. Just let Firebird work slowly on small lots per balance and it seems to sort things out fine over time.
Don Life is expensive, but includes a free trip around the sun.
  • #1,099
  • Sep 29, 2006 7:42pm Sep 29, 2006 7:42pm
for my live 1.0c,

after 3 weeks running on eurusd, usdchf, usdcad,

not making any profits at all.

15 loss trade, killed all the profits,

trending market, the biggest enemy,

ARrrr`~~~

any suggestion?

is it that using M5 will be a better choice for v1.0c?
  • #1,100
  • Sep 29, 2006 8:35pm Sep 29, 2006 8:35pm
Don't run 1.0c. The pipstep settings are two aggrssive for the recent market.

For starters run 1.0a and change take profit to 25 and pip step to 25 and SL to 300 and run it on the M5 charts.

I think it will help a lot.
Don Life is expensive, but includes a free trip around the sun.
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