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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 -

  • #1,221
  • Oct 11, 2006 8:43am Oct 11, 2006 8:43am
LOL!

I was 100% up on equity on the franc before NFP, now 90% down. Would have all been avoided if i'd stuck to the rules and closed it all down last wednesday. an expensive lesson.
TRADE FOR SWAP
  • #1,222
  • Oct 11, 2006 9:11am Oct 11, 2006 9:11am
Well.... cgldsmth, I'm not down 90% but I must admit that the NFP dealt my account some pretty bad blows. Now showing a loss in equity instead of a gain. Doesn't seem to be coming around either!

I'm thinking about actually closing all the trades made last week and letting things kinda start over.

What do you mean about sticking to the rules? I hadn't heard of any rules about NFP. Hmmm.
Don Life is expensive, but includes a free trip around the sun.
  • #1,223
  • Oct 11, 2006 9:17am Oct 11, 2006 9:17am
Quoting cgldsmth
LOL!

I was 100% up on equity on the franc before NFP, now 90% down. Would have all been avoided if i'd stuck to the rules and closed it all down last wednesday. an expensive lesson.
Yeah I think that's correct. Either close FB 24 hours before NFP to prevent new trades opening OR stop trading the majors. My demo trading suffered two SL hits at 100 pips each, both in majors.
  • #1,224
  • Oct 11, 2006 9:25am Oct 11, 2006 9:25am
i stopped FB from enetering NEW trades 3 days before NFP but left open trades going - that's what killed it. Was using the hedge version so had 10 either side of price. Was also over-leveraged due to reckless enthusiasm.

now converted to H04-TSMM with small risk.

I'm sure there's a sweet-spot out there.
TRADE FOR SWAP
  • #1,225
  • Oct 11, 2006 9:26am Oct 11, 2006 9:26am
Results for mid-morning Wednesday October 11:

Demo trading, five trades closed, all in profit, total of 45 pips. No losers. All opened today, all closed today. Four trades through v63H[04]TS, one trade with v63gTS. Each trade closed via FB's moving SL to BE as opposed to hitting TP.
  • #1,226
  • Oct 11, 2006 9:57am Oct 11, 2006 9:57am
I only have one issue with FB - when prices steadily trend opposite the trade's opening price, it may continue until SL. I believe the divergence function is meant to protect against trending markets. However, I'm not seeing much protection as several currencies continued to my SL 100 (a loss of $1,000 demo using standard lot).

I'm an old PL1 programmer (IBM 360/370 days) so my revisions below may be out in left field. Like to get your thoughts:

extern double DivergenceLimit=0.001; // modified from .002 to .001 by MoneyMa$ter
extern bool Use_V63D_Divergence = 0; // 0 - Use original method for divergence, 1 - use in iFXAnalyzer Modified by MoneyMa$ter
extern int PipStep = 40; //if position goes this amount of pips against you add another.
extern double IncreasementType = 0; //0=just add every PipStep, >0 =OrdersToal()^x *Pipstep
extern int DVLimit = 5; // included by Renato modified from 10 to 5 by MoneyMa$ter.

Thanks in advance for your time and input.
  • #1,227
  • Oct 11, 2006 11:01am Oct 11, 2006 11:01am
With that said, would I then be correct in saying the smaller the percentage the closer to the band.. hence more trades?

For example: In v1.0c "Percent" is 0.1. In v63H04-TS "Percent" is 0.05.

In that scenario, would a Percent of 0.05 execute trades closer to the band?

Quote
Percent controls the quantity of trades because it relates to price action outside the band created by FireBird: further from the band, fewer trades.
  • #1,228
  • Oct 11, 2006 11:48am Oct 11, 2006 11:48am
Quoting dscott5912
With that said, would I then be correct in saying the smaller the percentage the closer to the band.. hence more trades?

For example: In v1.0c "Percent" is 0.1. In v63H04-TS "Percent" is 0.05.

In that scenario, would a Percent of 0.05 execute trades closer to the band?
That's affirmative. Closer to the band, hence more trades.
  • #1,229
  • Oct 11, 2006 11:48am Oct 11, 2006 11:48am
yes, smaller percent=more trades but less of the firebird "logic"
TRADE FOR SWAP
  • #1,230
  • Oct 11, 2006 12:10pm Oct 11, 2006 12:10pm
Ah.. It would be interesting to do a direct comparison between percent=0.1 vs 0.05 over at least 1 month.

Has anyone in the forum done that? Anyone, anyone ... (Bueller?)

Quoting cgldsmth
yes, smaller percent=more trades but less of the firebird "logic"
  • #1,231
  • Oct 11, 2006 2:15pm Oct 11, 2006 2:15pm
Quoting dscott5912
With that said, would I then be correct in saying the smaller the percentage the closer to the band.. hence more trades?

For example: In v1.0c "Percent" is 0.1. In v63H04-TS "Percent" is 0.05.

In that scenario, would a Percent of 0.05 execute trades closer to the band?
As others have stated, lowering the percentage generates more orders. This mainly applies to 1st order on chart. After 1st order, remaining multiple chart orders only trigger when price reaches PipStep setting. So, even if Envelope and RVI triggers are made, the order will not be placed until PipStep is reached.

Wackena
  • #1,232
  • Oct 11, 2006 2:41pm Oct 11, 2006 2:41pm
Very good information. Thank you.

Quoting wackena
As others have stated, lowering the percentage generates more orders. This mainly applies to 1st order on chart. After 1st order, remaining multiple chart orders only trigger when price reaches PipStep setting. So, even if Envelope and RVI triggers are made, the order will not be placed until PipStep is reached.

Wackena
  • #1,233
  • Oct 11, 2006 2:56pm Oct 11, 2006 2:56pm
Demo Test Results through October 11 2006 (as of 4:02 pm est):

Firebird closed 14 trades today, 13 were winners (+235) and 1 major loser
(-100). Net 135 pips for today. Not too shabby but that minus 100 must go.
  • #1,234
  • Oct 11, 2006 3:09pm Oct 11, 2006 3:09pm
Hey Money Master witch fb are you running
Quoting MoneyMa$ter
Demo Test Results through October 11 2006 (as of 4:02 pm est):

Firebird closed 14 trades today, 13 were winners (+235) and 1 major loser
(-100). Net 135 pips for today. Not too shabby but that minus 100 must go.
MIR
  • #1,235
  • Oct 11, 2006 3:22pm Oct 11, 2006 3:22pm
Quoting mniemiec
Hey Money Master witch fb are you running
Read my post #1196 in this thread.
  • #1,236
  • Oct 11, 2006 5:03pm Oct 11, 2006 5:03pm
MOneyma$ter, how much float are you carrying on your Firebirds? I know you closed 14 trades, but are even more still open?

I had to close down my live account for the first time in over a month. Was afraid I would lose my shirt, then of course the action turned around after I closed out. Sigh. Can't decide whether to crank it up again or not.

By the way Moneyma$ter.... don't worry too much about that 100 pip loser. I had TWO for 300 pips each..........
Don Life is expensive, but includes a free trip around the sun.
  • #1,237
  • Oct 11, 2006 5:41pm Oct 11, 2006 5:41pm
I am fairly new to firebird and do not understand the intricacies of exactly how it operates under the hood like those that have been involved for a long time. I have found I have many questions that could be answered if there was a write-up or FAQ's page. I believe that would be helpful for many.

I have read the top portion of the EA which gives the overall idea behind the logic. Some example terms that would be valuable to the user community would be ...

 

  1. MA_length
  2. MA_timeframe
  3. Percent
  4. Slip
  5. DivergenceLimit

The more information the better. A value that was recently discussed was "Percent". I learned the smaller the value, the closer to the envelope trades would be executed. Hence, more trades. However, it would be valuable to explain the term envelope for those of us who are not up to speed and further explain if it is more advantageous to stay closer to the envelope.

  • #1,238
  • Oct 11, 2006 5:47pm Oct 11, 2006 5:47pm
Quoting MoneyMa$ter
Demo Test Results through October 11 2006 (as of 4:02 pm est):

Firebird closed 14 trades today, 13 were winners (+235) and 1 major loser
(-100). Net 135 pips for today. Not too shabby but that minus 100 must go.
Quoting traderone
MOneyma$ter, how much float are you carrying on your Firebirds? I know you closed 14 trades, but are even more still open?

I had to close down my live account for the first time in over a month. Was afraid I would lose my shirt, then of course the action turned around after I closed out. Sigh. Can't decide whether to crank it up again or not.

By the way Moneyma$ter.... don't worry too much about that 100 pip loser. I had TWO for 300 pips each..........
<!-- / message --><!-- sig --> __________________
Don
Hi there !

well guys ... this is question of the staring time of this bird... I also see it at my live and demo accounts, some of them are floating kings others close one order after the other...

Itīs a question of the starting time, i donīt think that we can fix this problem...

Hope this helps,

mr.trader
  • #1,239
  • Oct 11, 2006 6:36pm Oct 11, 2006 6:36pm
Quoting dscott5912
I am fairly new to firebird and do not understand the intricacies of exactly how it operates under the hood like those that have been involved for a long time. I have found I have many questions that could be answered if there was a write-up or FAQ's page. I believe that would be helpful for many.

I have read the top portion of the EA which gives the overall idea behind the logic. Some example terms that would be valuable to the user community would be ...


 

  1. MA_length
  2. MA_timeframe
  3. Percent
  4. Slip
  5. DivergenceLimit

The more information the better. A value that was recently discussed was "Percent". I learned the smaller the value, the closer to the envelope trades would be executed. Hence, more trades. However, it would be valuable to explain the term envelope for those of us who are not up to speed and further explain if it is more advantageous to stay closer to the envelope.



If you can find Accrete's homepage he has a pdf file that discusses all about the firebird. Also, go to the original thread where Mono was most active for some more thoughts on settings etc.



I think the name of that thread was "please test this EA (firebird)" . It is still active here farther down the page.
Don Life is expensive, but includes a free trip around the sun.
  • #1,240
  • Oct 11, 2006 6:50pm Oct 11, 2006 6:50pm
Quoting traderone
If you can find Accrete's homepage he has a pdf file that discusses all about the firebird. Also, go to the original thread where Mono was most active for some more thoughts on settings etc.



I think the name of that thread was "please test this EA (firebird)" . It is still active here farther down the page.
Here you go

http://www.accrete.com/fx-mirror/mt4-firebird/
Mono
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