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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 -

  • #1,281
  • Oct 14, 2006 8:58am Oct 14, 2006 8:58am
Quoting traderone
Great. Thanks for this Wackena.

But................

What are we going to use for the number of hours before close?
How about a tolerable loss number for pips?

I'm thinking 120 hours (5 days) and maybe 80 pips.
Time enough to get over a few announcements and not enough pips to kill the account.

Any ideas here?

Also, has anybody here done anything really zany like run Firebird on a 1 hour chart or H4 or Daily? Weird, but what the hey?


tow weeks test,i think it's can tell us something.
the broke is IFX,and FXDD have the same result
the version is FB v63G
the timefram is 30M (1/2 hour)
Lot=0.1 ~ 0.2
TP=24 (mabe some pairs can bigger)
SL=300
PS=30

test is good,but it is not good for USDCAD,and it do not trde GBPUSD(mabe its not satisfy for 30M), i think it the reason is market news.i will wait last week.

it takes 300pips in first week,but the 2nd week ,it makes pips hard.

that my report.
Attached File(s)
File Type: zip FB v63G TF30M-IFX-1002-1013.zip   9 KB | 440 downloads
  • #1,282
  • Oct 14, 2006 11:05am Oct 14, 2006 11:05am
I could not find the time frame in the thread for FB 2. I am currently using 30M for FB 1.0a

If you know, please post. Would like to test on a demo account.

Quoting MoneyMa$ter
Appleparty,

Give a man an apple to eat and he's dependent on you for life. Teach a man how to plant appleseeds and he can feed himself, his family and his entire community.....

Can you read at least some of the thread? That will teach you and help you understand how the EA works. The answer to your question is not that far away.
  • #1,283
  • Oct 14, 2006 7:51pm Oct 14, 2006 7:51pm
Quoting sinclap
I could not find the time frame in the thread for FB 2. I am currently using 30M for FB 1.0a

If you know, please post. Would like to test on a demo account.
Allow me one point:

(1) It's possible that YOU could discover something new. Use anything; play around with it and vary the timeframes. That's why we call it "testing on a demo account".

Now to your question:

FB 2 is the original FB, plus the addition of MoneyManagement and Trailing Stop, plus correction for the yen pairs, plus the new features Wackena just added. So whatever timeframe you used successfully in the past can still be used in the future.

Works like this:

(1) Shorter TFs result in more trades;
(2) Longer TFs result in fewer trades.
(3) Conversely, smaller Percents, more trades and higher percents, fewer trades.
(4) Some traders use TF of 1 minute, others use 5 minutes, others use higher TFs like 30 for the more volatile pairs such as cable; still others avoid cable altogether.
(5) For standard lots, I'm testing with 5m charts a 1m charts produced quite a few trades and a correspondingly high float. Definitely avoiding cable.

Cheery-o. Good hunting and all that sort of rot.
  • #1,284
  • Oct 14, 2006 10:22pm Oct 14, 2006 10:22pm
Very True..Trial and error on a demo is the only way to learn to fit ones style.

I made a mistake with the time element I use with FB on a real account. I use 5M not 30 M.

Quoting MoneyMa$ter
Allow me one point:

(1) It's possible that YOU could discover something new. Use anything; play around with it and vary the timeframes. That's why we call it "testing on a demo account".

Now to your question:

FB 2 is the original FB, plus the addition of MoneyManagement and Trailing Stop, plus correction for the yen pairs, plus the new features Wackena just added. So whatever timeframe you used successfully in the past can still be used in the future.

Works like this:

(1) Shorter TFs result in more trades;
(2) Longer TFs result in fewer trades.
(3) Conversely, smaller Percents, more trades and higher percents, fewer trades.
(4) Some traders use TF of 1 minute, others use 5 minutes, others use higher TFs like 30 for the more volatile pairs such as cable; still others avoid cable altogether.
(5) For standard lots, I'm testing with 5m charts a 1m charts produced quite a few trades and a correspondingly high float. Definitely avoiding cable.

Cheery-o. Good hunting and all that sort of rot.
  • #1,285
  • Oct 15, 2006 12:30pm Oct 15, 2006 12:30pm
Is it possible to disable FB on one of the currency pairs while having open trades to run it's course?

Thanks
  • #1,286
  • Oct 15, 2006 7:01pm Oct 15, 2006 7:01pm
Below is a 2 month forward demo test of FB v1.0a as well as the results for the first month. There has been an equity loss of about $800.00 over the last month but overall it is still profitable. I decided to stop testing it and quit trading it live in my baby account for now. I'll have to see if next summer is the same as this past summer. If it is I'll turn this EA back on from June to the end of August. During that period it did very well. This test was on 5min charts. After a month I dropped the some of the GBP pairs. The settings are at the end of the PDF file.
Attached File(s)
File Type: pdf FB v1.0a - 0816-1015.pdf   135 KB | 600 downloads
File Type: pdf FB v1.0a - 0816-0915.pdf   101 KB | 637 downloads
  • #1,287
  • Oct 16, 2006 6:40am Oct 16, 2006 6:40am
hi all,

Look, i hate to be a damp squib for you lot on here using this, but i felt I had to give out a warning and maybe open some eyes.

why? well i can see the same situation arising that happened a few weeks ago - everything swimming along nicely, everyone demo testing and making loadsa pips - gaining confidence, feeling invincible. The went on for about 6 weeks or more.

just as everone started opening live accounts the market went trendy and lots lost a bundle.

Now the reason i'm saying this is that thereare a lot of new faces on here and i don't want you to get burned.

Now, for opening your eyes. - some will remain blinkered

The reason you like this strategy and the reason it is so popular is this.

You never have to take a loss. - thats why newbies and unseasoned traders flock to this like a moth to a flame.

But it's not real. You do take a loss ..... eventually. and its a total loss.

what happens is that as you are watching this you see lots of green on your account balance page so you feel invincible. - even seeing some people take 100 pip losers has no impact because you are making hundreds more right?

well, ignore that page and concentrate on what has become known as 'the float'

The account equity is the most important figure to watch when you are using firebird. - it's here that you will see your drawdown - how many of you would really play a strategy if someone said to you - you will have to put up with a 50% drawdown though"

well thats exactly what happens with firebird - watch that float figure because that is your indcation of drawdown. and one day, it wont stop.

Don't get me wrong, this is certainly intruiging and as a trader it's really interested me following your progress over the past few months.

But i have to tell you it is fools gold and is not tradable.

The second reason it seems attractive is that it appears to make hundreds of pips a week or day. The thing is that because you cannot play it at the same staking level as other strategies is that you have to account for this.

For example. lets say that you have a strategy that makes 200 pips a month on a single pair - pretty low you may think but thats your inexperience speaking.

However this 200 pips you can comfortably play at $10 a pip on a $10k account (thats 10:1 leverage).

with firebird lets say that you are only comfortable enough to play it at $1 a pip because of the 'float' as you call it - drawdown as i call it

well, that means that it has to make 2000 pips a month to give the same monetary result as to 200 pip strategy - see what i mean?

If you could comfortably play firebird at $10 a pip on one pair then i'd say it was great - even if it will bite your bum eventually. But because you can only play it at flat (ie zero) leverage then i would plump for the 200 pip strategy every time.

Now i know some have been on here saying that you should play $1 for every $1k in your account - but believe me, you will soon die if you do that.

So, just a word of warning and dont come running to me when it happens.
  • #1,288
  • Oct 16, 2006 9:07am Oct 16, 2006 9:07am
Quoting cabletrader
The account equity is the most important figure to watch when you are using firebird. - it's here that you will see your drawdown - how many of you would really play a strategy if someone said to you - you will have to put up with a 50% drawdown though"
Two Points:

(1) Count it quite simply as the cost of doing business. As an entrepreneur, I understand and accept the costs and risks involved. For example, while SL 300 may work for micros and minis, I think SL 300 is an inappropriate risk for trading standard lots. So the obvious thing to do is reduce the SL for standard lot trading.

(2) Understand there are many well-educated, experienced and creative traders at FF more than capable of first, identifying then second, overcoming FB's shortcomings. Consider the following example. Original FB could trend until it hit your SL; at 300 that could be a pretty good hit. Wackena modified the program to reduce such losses.

It's rather naive to think you'll operate any nascent business without a loss. And an EA less than a year old is akin to a new business. The question cabletrader is how much loss is acceptable and how do you minimize those losses. Furthermore, none of us think this or any EA will always and forever operate perfectly without observation and modification, fine tuning so to speak, in order to derive maximum efficient operation.

Don't ever give up; don't ever quit. Quitting is the easy way out and for some, quitting is simply not an option. Rather use your mind and contribute constructive criticism that will improve the project. That means highlight the shortcomings, then recommend a solution.

Adapt, improvise and dominate.
  • #1,289
  • Oct 16, 2006 10:22am Oct 16, 2006 10:22am
Quoting MoneyMa$ter
Two Points:

(1) Count it quite simply as the cost of doing business...

...Furthermore, none of us think this or any EA will always and forever operate perfectly without observation and modification, fine tuning so to speak, in order to derive maximum efficient operation.

Don't ever give up; don't ever quit. . .
Adapt, improvise and dominate.
Good post MM and i agree w/you. I've found that, for better or worse, and i'm still licking my wounds, that even the worst weeks of my EA portfolio does hundreds of pips more in profit than my only-human trading model. I'm still trying to figure out how to get the human heart in the mind of the machine, but that will come in time. . .and that surely due in part from all the great ppl i rub elbows with here at the factory.

: ) Thom
Never give up, never surrender. grin.
  • #1,290
  • Oct 16, 2006 10:31am Oct 16, 2006 10:31am
This morning, as of 11:15 am est, FB closed 15 trades, all in profit, total of 154 pips, standard lots, using 5 minute charts, no cable. Current float approx -$900. Maybe I'll try 1M.

IMHCO, ("C" is for conservative) a system generating $1,500 - $3,000 profit per day, against $900 - $1,200 in negative float is a winning system. Truth is you realize profit daily, while the negative float doesn't offset profits unless and until the trader decides to close those open trades at the end of the week or prior to a major announcement such as NFP. So conservatively speaking, 4 days at an average of $2,000/day is $8,000, less the closing day negative float of let's say $1,500, leaves a net of $6,500 for a week's work or around 25 large per month.

Slow compared to newstrading but steady. And the name of the game is "profit"!!! Like I said last week, it's the fully loaded FB (MM, TS, Close Losers, Close open too long, Yen corrected), a virtual pip mobile, unstoppable, low on gas and environmentally friendly!

BTW, the only reason I haven't gone live is because one of my brokers, my only MT4 broker, had issues, COESFx - SpotTrader. Can't wait to get this baby on the autobahn and let'er rip, wide open, mach 3, hair on fire and mind on Go FAST!!!>>>>>>>>>>>>>>
  • #1,291
  • Oct 16, 2006 10:40am Oct 16, 2006 10:40am
Hi MM,

Please post the version you are using, either name or file. I know it's an H variant, and I'm sure I have it on my HD, but I've so many versions it's getting a bit confusing.

Thanks,
HK
Quoting MoneyMa$ter
This morning, as of 11:15 am est, FB closed 15 trades, all in profit, total of 154 pips, standard lots, using 5 minute charts, no cable. Current float approx -$900. Maybe I'll try 1M.

IMHCO, ("C" is for conservative) a system generating $1,500 - $3,000 profit per day, against $900 - $1,200 in negative float is a winning system. Truth is you realize profit daily, while the negative float doesn't offset profits unless and until the trader decides to close those open trades at the end of the week or prior to a major announcement such as NFP. So conservatively speaking, 4 days at an average of $2,000/day is $8,000, less the closing day negative float of let's say $1,500, leaves a net of $6,500 for a week's work or around 25 large per month.

Slow compared to newstrading but steady. And the name of the game is "profit"!!! Like I said last week, it's the fully loaded FB (MM, TS, Close Losers, Close open too long, Yen corrected), a virtual pip mobile, unstoppable, low on gas and environmentally friendly!

BTW, the only reason I haven't gone live is because one of my brokers, my only MT4 broker, had issues, COESFx - SpotTrader. Can't wait to get this baby on the autobahn and let'er rip, wide open, mach 3, hair on fire and mind on Go FAST!!!>>>>>>>>>>>>>>
  • #1,292
  • Oct 16, 2006 11:27am Oct 16, 2006 11:27am
Quoting Horace Kent
Hi MM,

Please post the version you are using, either name or file. I know it's an H variant, and I'm sure I have it on my HD, but I've so many versions it's getting a bit confusing.

Thanks,
HK
Right you are.

I'm testing for standard lots:

(1) the hedge version with trailing stop referred to as v63-H[04]TS and

(2) the latest v63, now referred to as v2. See Wackena's post #1277 in this thread for v.2; this is what I refer to as the load FB and it's the version that closed most of the trades.
  • #1,293
  • Oct 16, 2006 11:34am Oct 16, 2006 11:34am
Thank you. And I have to apologize, after rereading some of your earlier posts, you do indicate the use of v2.

What settings are you using for the new routines added by Wackena?
best,
HK
Quoting MoneyMa$ter
Right you are.

I'm testing for standard lots:

(1) the hedge version with trailing stop referred to as v63-H[04]TS and

(2) the latest v63, now referred to as v2. See Wackena's post #1277 in this thread for v.2; this is what I refer to as the load FB and it's the version that closed most of the trades.
  • #1,294
  • Oct 16, 2006 11:38am Oct 16, 2006 11:38am
Quoting Horace Kent
Thank you. And I have to apologize, after rereading some of your earlier posts, you do indicate the use of v2.

What settings are you using for the new routines added by Wackena?
best,
HK
That's a matter of personal preference. If you employ SL 100, how far are you willing to go before cutting losses? Similarly, how many days do you think a trade should remain open? Personal preferences. Try various combinations while you test the EA.
  • #1,295
  • Oct 16, 2006 11:54am Oct 16, 2006 11:54am
Well, knowing that "50% of the trades last a day. 45% 2-6 days 5% longer or just fail." It makes sense to study the losers, and find a pattern, if possible, and employ settings that take advantage of any patterning found. You're right, personal preference and independent testing are required.

best,
HK
Quoting MoneyMa$ter
That's a matter of personal preference. If you employ SL 100, how far are you willing to go before cutting losses? Similarly, how many days do you think a trade should remain open? Personal preferences. Try various combinations while you test the EA.
  • #1,296
  • Oct 16, 2006 12:11pm Oct 16, 2006 12:11pm
Quoting MoneyMa$ter
Two Points:

(1) Count it quite simply as the cost of doing business. As an entrepreneur, I understand and accept the costs and risks involved. For example, while SL 300 may work for micros and minis, I think SL 300 is an inappropriate risk for trading standard lots. So the obvious thing to do is reduce the SL for standard lot trading.

(2) Understand there are many well-educated, experienced and creative traders at FF more than capable of first, identifying then second, overcoming FB's shortcomings. Consider the following example. Original FB could trend until it hit your SL; at 300 that could be a pretty good hit. Wackena modified the program to reduce such losses.

It's rather naive to think you'll operate any nascent business without a loss. And an EA less than a year old is akin to a new business. The question cabletrader is how much loss is acceptable and how do you minimize those losses. Furthermore, none of us think this or any EA will always and forever operate perfectly without observation and modification, fine tuning so to speak, in order to derive maximum efficient operation.

Don't ever give up; don't ever quit. Quitting is the easy way out and for some, quitting is simply not an option. Rather use your mind and contribute constructive criticism that will improve the project. That means highlight the shortcomings, then recommend a solution.

Adapt, improvise and dominate.
absolutely - but then you were not here the last time it blew up

time will tell.

you then say

"virtual pip mobile, unstoppable, low on gas and environmentally friendly!

BTW, the only reason I haven't gone live is because one of my brokers, my only MT4 broker, had issues, COESFx - SpotTrader. Can't wait to get this baby on the autobahn and let'er rip, wide open, mach 3, hair on fire and mind on Go FAST!!!>>>>>>>>>>>>>>"

see what i mean - invincible, unstoppable - all famous last words.

I'm not knocking those on here moneymaster, just erring caution to those new to the thread like yourself who werent on here last time. it was painful to watch.

remember the saying

"you dont know what you dont know" - be smart enough to know that and listen to those who have been there before you.

nuff said
  • #1,297
  • Oct 16, 2006 1:22pm Oct 16, 2006 1:22pm
Hi cabletrader,

Do you speak from personal experience in regards to firebird 'blowing up' ?

If so, could you provide specifics?

thanks,
HK
Quoting cabletrader
absolutely - but then you were not here the last time it blew up

time will tell.

you then say

"virtual pip mobile, unstoppable, low on gas and environmentally friendly!

BTW, the only reason I haven't gone live is because one of my brokers, my only MT4 broker, had issues, COESFx - SpotTrader. Can't wait to get this baby on the autobahn and let'er rip, wide open, mach 3, hair on fire and mind on Go FAST!!!>>>>>>>>>>>>>>"

see what i mean - invincible, unstoppable - all famous last words.

I'm not knocking those on here moneymaster, just erring caution to those new to the thread like yourself who werent on here last time. it was painful to watch.

remember the saying

"you dont know what you dont know" - be smart enough to know that and listen to those who have been there before you.

nuff said
  • #1,298
  • Edited 7:58pm Oct 16, 2006 7:53pm | Edited 7:58pm
cabletrader,

MoneyMa$ter is here now.

Everything I touch prospers. Everything! Son, I know how to overcome adversity because success is what I expect. I have the Blessing of Abraham on my life. I've dropped more cash investing than you will probably ever make in your lifetime. But deep down inside, I know you wish me well. Deep down inside, you wish you could do what I do. In fact, you probably wish you were me!! And that's a good thing!

Enuf said. Let the results speak. FireBird Trades closed today:


10/16 18:25 1.2714 $/CHF 10/17 01:02 1.2709 5 $39.34
10/16 16:56 1.1359 $/CAD 10/16 17:37 1.1376 17 $149.44
10/16 16:43 119.11 $/JPY 10/16 17:35 119.17 6 $50.35
10/16 16:43 1.2707 $/CHF 10/16 18:21 1.2712 5 $39.33
10/16 15:43 2.3630 GBP/CHF 10/16 19:27 2.3655 25 $196.57
10/16 13:23 1.2724 $/CHF 10/16 13:48 1.2718 6 $47.18
10/16 11:40 1.2716 $/CHF 10/16 13:04 1.2722 6 $47.16
10/16 03:38 1.1374 $/CAD 10/16 16:56 1.1360 14 $123.24
10/16 02:26 .6742 EUR/GBP 10/16 15:42 .6742 18 $335.70
10/16 01:35 119.73 $/JPY 10/16 09:09 119.67 6 $50.14
10/16 01:22 1.2742 $/CHF 10/16 11:07 1.2716 25 $196.59
10/13 21;43 .7511 AUD/$ 10/16 09:39 .7505 6 $60.00
10/13 21:28 1.2513 EUR/$ 10/16 01:09 1.2528 5 $50.00
10/13 21:11 1.2516 EUR/$ 10/16 03:17 1.2498 18 $182.00*
10/13 18:00 1.6561 EUR/AUD 10/16 09:13 1.6686 25 $187.33
10/13 14:33 2.3630 GBP/CHF 10/16 09:40 2.3624 6 $47.10
10/13 13:25 222.12 GBP/JPY 10/16 03:52 221.94 18 $150.36

*.9 lot. All other trades were 1.0 lot. Approximately 211 pips for today. This is way too much work, typing these results. Must be a better way.
  • #1,299
  • Oct 16, 2006 8:00pm Oct 16, 2006 8:00pm
Quoting MoneyMa$ter
cabletrader,

MoneyMa$ter is here now.

Everything I touch prospers. Everything! Son, I know how to overcome adversity because success is what I expect. I have the Blessing of Abraham on my life. I've dropped more cash investing than you will probably ever make in your lifetime. But deep down inside, I know you wish me well. Deep down inside, you wish you could do what I do. In fact, you probably wish you were me!! And that's a good thing!

Enuf said. Let the results speak. FireBird Trades closed today:


10/16 18:25 1.2714 $/CHF 10/17 01:02 1.2709 5 39.34
10/16 16:56 1.1359 $/CAD 10/16 17:37 1.1376 17 149.44
10/16 16:43 119.11 $/JPY 10/16 17:35 119.17 6 50.35
10/16 16:43 1.2707 $/CHF 10/16 18:21 1.2712 5 39.33
10/16 15:43 2.3630 GBP/CHF 10/16 19:27 2.3655 25 196.57
10/16 13:23 1.2724 $/CHF 10/16 13:48 1.2718 6 47.18
10/16 11:40 1.2716 $/CHF 10/16 13:04 1.2722 6 47.16
10/16 03:38 1.1374 $/CAD 10/16 16:56 1.1360 14 123.24
10/16 02:26 .6742 EUR/GBP 10/16 15:42 .6742 18 335.70
10/16 01:35 119.73 $/JPY 10/16 09:09 119.67 6 50.14
10/16 01:22 1.2742 $/CHF 10/16 11:07 1.2716 25 196.59
10/13 21;43 .7511 AUD/$ 10/16 09:39 .7505 6 60.00
10/13 21:28 1.2513 EUR/$ 10/16 01:09 1.2528 5 50.00
10/13 21:11 1.2516 EUR/$ 10/16 03:17 1.2498 18 182.00*
10/13 18:00 1.6561 EUR/AUD 10/16 09:13 1.6686 25 187.33
10/13 14:33 2.3630 GBP/CHF 10/16 09:40 2.3624 6 47.10
10/13 13:25 222.12 GBP/JPY 10/16 03:52 221.94 18 150.36

*.9 lot. All other trades were 1.0 lot. Approximately 211 pips for today. This is way too much work, typing these results. Must be a better way.
in the 'account history' tab, right click select custom period,

set 'today' if u just want the result of today, right click 'save as report'

back to FF forum (this thread) select 'post reply', in 'additional options' select 'attach files to your post', new window open, browse your zipped report file. then .....

is this way better?

sorry, u havent mention about what version of firebird u're on. Mind to share?


Chad

Life goes on.
  • #1,300
  • Oct 16, 2006 8:02pm Oct 16, 2006 8:02pm
Quoting chad
in the 'account history' tab, right click select custom period,

set 'today' if u just want the result of today, right click 'save as report'

back to FF forum (this thread) select 'post reply', in 'additional options' select 'attach files to your post', new window open, browse your zipped report file. then .....

is this way better?


Chad

Life goes on.
Hot dang!! Sounds way mucho better!! Thanks Chad. Okay, now let's see.... right click the report....save.... okay....
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