Money Master,
v63H04_TS is a non-hedging version of FB. The hedging version is v1.03b. You can refer to the following web site to learn the particulars of all the versions.
http://www.accrete.com/fx-mirror/mt4-firebird/
1Trader2
So what does the "H" stand for since it's not hedging? Inquiring minds want to know.
Excuse me Mike, didn't I say non - hedge???
Hi Firebirders !
I started here a new fresh thread about further improvement based on Firebird EA v0.63G engine that seems actually the best version ever made with incredible performance tested by a lot of users in old post.
I will try, as much as i can, to update regularly this first post so every news,settings,fix will be written here.
I wish to thanks to all users that in old thread help to improve Firebird in particular Mono for testing and sharing his result and setting to FF users.
[How it works Firebird ?]
(taken from EA code)
Firebird calculates a 10 day SMA and then shifts it up and down based on a percentage to form a channel.
For the calculation of this SMA either close (more trades) or H+L (safer trades) is used.
When the price breaks a band a postion in the opposite of the current trend is taken. If the position goes against us we simply open an extra position to average (pipstep function).
To avoid enter a trade while a strong trend is in place a divergence function is used that is calculated as difference between a Faster SMA (by default set to 23) and a Slower SMA (by default set to 84).
* Firebird v0.63g :
- Our loved EAThis version it seems to be a pips machine , implement pipstep to average position and divergence to avoid strong trend.
* Firebird v1.0a :
- Based on Firebird v0.63g engine.
- Fixed bug that prevent to all JPY pairs to enter often a trade due to a calculation error on divergence function.
- Removed looping print about Account Equity on Expert tab.
- Deleted override settings if you use TF30 timeframe chart.
*Firebird v1.0c (modified by Wackena)
- Average daily range calculated automatically using ATR on past 21 days, there is no more need to setup manually StopLoss,TakeProfit and Pipstep, they are all calculated automatically.
- Added Money Management routine. If you want to manually set lot size, set UseMM=0(false)
- Added MaxOpenOrders routine to add control as to max number of open orders at one time per pair. If not wanted, set MaxOpenOrders=10.
- Added Trailing stop function
[Firebird Settings (based on Mono's settings)]
- Firebird_settings_v1.0.zip : Contains two versions of preset files that seems to works better :
1) Mono's fixed setting (Mono_settings_fixed_v1.0.zip): Fixed tp=30, sl=300, pipstep=30 for all pairs
2) Mono's variable setting (Mono_settings_variable_v1.0.zip) : different setting for each pair based on average daily range (in pips). Take profit (TP), Stop loss (LS) and PipStep are calculated with these formulas :
TP = Daily Avg Range*2/10 , SL = Daily Avg Range*2 , PipStep = Daily Avg Range/10
EUR/USD TP=22 SL=220 PIPSTEP=11 (Daily Avg Range = 110)
GBP/USD TP=30 SL=300 PIPSTEP=15 (Daily Avg Range = 150)
USD/CHF TP=25 SL=250 PIPSTEP=12 (Daily Avg Range = 125)
EUR/JPY TP=21 SL=210 PIPSTEP=10 (Daily Avg Range = 105)
USD/JPY TP=20 SL=200 PIPSTEP=10 (Daily Avg Range = 100)
USD/CAD TP=21 SL=210 PIPSTEP=10 (Daily Avg Range = 105)
AUD/USD TP=16 SL=160 PIPSTEP=8 (Daily Avg Range = 80)
EUR/CHF TP=10 SL=100 PIPSTEP=5 (Daily Avg Range = 50)
EUR/GBP TP=9 SL=90 PIPSTEP=5 (Daily Avg Range = 45)
AUD/JPY TP=15 SL=150 PIPSTEP=7 (Daily Avg Range = 75)
* Mono's chart time frame : M1 (1 minute chart)
To Fellow Firebirders,
Yes, your account can "blow Up." My live account went from a modest $2800 to $5600 in about 5 weeks. I thought FB & I were invincible and I couldn't lose. I began over risking and trading too many pairs. And of course at the worst possible time when I doubled all of my lot sizes, the summer ranging ended and the trend began. The float quickly ate me up, and I manually had to close trades to prevent a margin call with all trades closing. It took me all the way down to $1200 in about 4 days.
I continue to believe in Firebird, but I have a new respect for it and have a better understanding of it. I will be "wiser" next time.
I think it behooves all of us to respect the market. It has a life of its own. The market is the "shark" and we are the "prey." We have to learn to swim faster and smarter so that we can become bigger and survive within it. God wants us to succeed in life, but He has lessons for each of us to learn. Sometimes God humbles us through our pain (whether it be through loss of money, fortune or fame). One's life can change in an instant (through illness, death of a loved one or our own.) Remember, that God owns everthing including the money He has entrusted to you to use for your benefit (or if you choose your demise) and your family's. I have lost a lot of money in the markets (options, stocks, Forex), probably money I may never recover. But it has taught me lessons...a tuition of sorts if you may. Tread the markets with caution, tend toward the conservative side, think outside the box, recognize an opportunity when it arises, and on and on. Just a little philosophy for the day...
1Trader2
On other hand in my live account started 1st Sept i collected 'only' 660 pips with a more conservative modification of Firebird developed by me called Skypips (may be i will post it in another thread if you wish) with 32 winning trades and 1 loss trade for a win percentage of 96.96%
Obviously i'm monitoring every day how EA is performing and i'm also looking and testing in demo account different EA (like Phoenix, Fozzy) just to be able to switch to another one if my EA will start to fail.
Infact i know that at some point in future Firebird/Skypips may not be more profitable and when this will happen i have to be ready to find another EA that could be comfortable for me trying to avoid that may account will blow out in few days.
Hi 1Trader2,
iObviously i'm monitoring every day how EA is performing and i'm also looking and testing in demo account different EA (like Phoenix, Fozzy) just to be able to switch to another one if my EA will start to fail.
Infact i know that at some point in future Firebird/Skypips may not be more profitable and when this will happen i have to be ready to find another EA that could be comfortable for me trying to avoid that may account will blow out in few days.
Hi 1Trader2,
i think in your experience that Firebird doesn't fail, simply your money management fail. You said that you start to risky more than reasonable adding more pairs so your risk trading was not tollerable and finally market blow out almost your account. This could be happen with any trading system not only with Firebird, so learn from your mistake and continue to improve your money management
After 2 month since i started this new thread about Firebird my result in demo and live account are good and i'm actually in the 5% of winners traders in the forex market
My demo account started on 1st Aug 2006 (online 24/7 every day!) reached about 3800 pips with Firebird v0.63g , 150 win trades , 2 loss trades for a winning percentage of 98.68%, and with these performance this system will be profitable even if it uses a really bad ratio risk:reward=10:1. If performance will go under certain percentage (le't say 95%) then i will stop to trade with Firebird.
On other hand in my live account started 1st Sept i collected 'only' 660 pips with a more conservative modification of Firebird developed by me called Skypips (may be i will post it in another thread if you wish) with 32 winning trades and 1 loss trade for a win percentage of 96.96%
Obviously i'm monitoring every day how EA is performing and i'm also looking and testing in demo account different EA (like Phoenix, Fozzy) just to be able to switch to another one if my EA will start to fail.
Infact i know that at some point in future Firebird/Skypips may not be more profitable and when this will happen i have to be ready to find another EA that could be comfortable for me trying to avoid that may account will blow out in few days.
MoneyMaster,
I agree with you totally. ....Those who are truly strong do not need to boast for in boasting one shows one's weakness.
1Trader2
I, like Paul (aka Saul), boast in the Lord. For it's in Him the I live, that I move, that I have my being. Without Him I can do nothing and with Him all things are possible to me. That's Word; that's the definition of humility. I'm submitted to His way, not mine.
