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Phoenix 2007 (new thread)

  • #381
  • Oct 24, 2006 7:41am Oct 24, 2006 7:41am
I am a complete bonehead jackass. For some reason, I wasn't running P4 on all of the pairs specified; just seven of them. Don't ask me why, how, who, or what the #$@!. I'm not in front of my machine so I can't relay what the pairs running are. Sorry Harry. It amazes me how I just make it through the day sometimes....I'm pissed.
  • #382
  • Oct 24, 2006 9:20am Oct 24, 2006 9:20am
Thanks for your EA, my Notebook now will run 24 hrs for forward testing
  • #383
  • Oct 24, 2006 10:53am Oct 24, 2006 10:53am
I will forward test too....hope this ea make ton pips...
  • #384
  • Oct 24, 2006 1:10pm Oct 24, 2006 1:10pm
My daily work is too demanding at this moment to follow this forum every day. But don't worry, I will post <?xml:namespace prefix = st1 ns = "urn:schemas-microsoft-com:office:smarttags" /><st1:City w:st="on"><st1lace w:st="on">Phoenix</st1lace></st1:City> version 5 this weekend. Wish I could do this for a living!<?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" /><o></o>
  • #385
  • Oct 24, 2006 1:22pm Oct 24, 2006 1:22pm
Helloo

I think all of us want to trade in Forex for living ^^

Sorry for ask Hendrick but what do you do for living?
Sorry about my english.

See you guys later
No Brain, no Gain.
  • #386
  • Oct 24, 2006 2:26pm Oct 24, 2006 2:26pm
Hello to everybody! Sorry for my English. Does anybody have settings for Phoenix 4.2 for GBP/JPY?
  • #387
  • Oct 24, 2006 3:38pm Oct 24, 2006 3:38pm
Quoting Hendrick
My daily work is too demanding at this moment to follow this forum every day. But don't worry, I will post <st1:city w:st="on"><st1lace w:st="on">Phoenix</st1lace></st1:city> version 5 this weekend. Wish I could do this for a living!<o></o>
Patience Harry ... soon you will be able to!!!
Just my 2 pips worth
  • #388
  • Oct 24, 2006 4:31pm Oct 24, 2006 4:31pm
Quoting Trader83
Hello to everybody! Sorry for my English. Does anybody have settings for Phoenix 4.2 for GBP/JPY?
The most recent version of 4.2 is in post #140. If you set PrefSettings=true when running the EA you don't need to enter any settings. If it is for backtesting use MetaEditor and look at the settings inside the EA. Use it on the 15min charts. As far as which currency pairs have preferred settings and what those settings are use MetaEditor and look in the EA.

I know the thread is long but at least try to read the posts by Hendrick. You don't really want to use an EA to trade the market with out learning all you can about the EA. Start with what Hendrick put in post #1.
  • #389
  • Oct 24, 2006 6:30pm Oct 24, 2006 6:30pm
Quoting Hendrick
My daily work is too demanding at this moment to follow this forum every day. But don't worry, I will post <?xml:namespace prefix = st1 ns = "urn:schemas-microsoft-com:office:smarttags" /><st1:City w:st="on"><st1lace w:st="on">Phoenix</st1lace></st1:City> version 5 this weekend. Wish I could do this for a living!<?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" /><o></o>
Hi Harry

Some day we will live from this and others will enjoy our success too!
  • #390
  • Oct 24, 2006 6:32pm Oct 24, 2006 6:32pm
@hendrick
when forward test in micro account this ea execute 0.1 lot, I want use 0.01 lot...where setting that must change,
  • #391
  • Oct 24, 2006 7:07pm Oct 24, 2006 7:07pm

Hendrick,

First let me start by thanking you. On one of your posts you mention that your goal is to make money and allow others too and then continue with life helping out the less fortunate. I together with many more share your vision and hope that this vision becomes successful along with your great achievements. You have
also shown us that consistency and having a vision is something more powerful then anything else and I thank you for setting a great example for all of us.

As for Phoenix. I was looking at the open chart after doing some testing and noticed that the majority of "losers" were the ones that continued against your position. So even thought they left the envelope and were suppose to return they never returned. Also some had returned back to the envelope BORDER but because your take profit was higher then the distance back to the envelope they drifted back out of the envelope causing a lose.

Some suggestions to improve the above.

Build a mechanism that actually confirms we are talking about a spike that left the envelope and returned. you can do this in the following way

1. wait for price to move out of envelope (that you already do) .
2. Once it reaches the position where you normally would open a counter trending position just raise a flag but don't open the position yet.
3. wait till it reaches at least X pips +- your flag point (+- depending if your short or long) and then wait for it to return to your flag position.
The top 3 were also suggested also by L2T (Learning2Trade) from the above post and I think you mentioned (can't find where) reverse indicators
4. BUT I THINK THE BEST WAY TO ACTUALLY CONFIRM WE ARE TALKING ABOUT A SPIKE IS THAT IF ALL THE ABOVE HAPPENS WITHIN A CERTAIN TIME FRAME (can be optimized)
5. once it reaches the flag point open the position but now you are actually with the "trend" moving back to your envelope.

As for taking profit.
you can build a take profit target#1 once it reaches back the envelope border (only if it's a winning gain because border changes dynamically) and then target 2 can be the original 42 pips (for euro/dollar). of course moving from target 1 to 2 you would also modify your stop loss.

I also notices that Fibonacci exits (take profit and stop loss) are very powerful. You can see that looking at some of your competitors especially Vince Wells from Position#2 in the competition. I know this would dramatically change your ea but perhaps this strategy can be used for target 3 and 4 If you look at Vice's Journal and Experts tab you will see how the EA keeps modifying the targets and stop loss as each fibonacci line is crossed.

I know some of these issues have been addressed by others but perhaps my little angle could add to the joint effort.

Thanks again for being such a wonderful inspiration.

Reuven

  • #392
  • Oct 25, 2006 1:18am Oct 25, 2006 1:18am
Quoting reuvenny

Hendrick,


First let me start by thanking you. On one of your posts you mention that your goal is to make money and allow others too and then continue with life helping out the less fortunate. I together with many more share your vision and hope that this vision becomes successful along with your great achievements. You have
also shown us that consistency and having a vision is something more powerful then anything else and I thank you for setting a great example for all of us.

As for Phoenix. I was looking at the open chart after doing some testing and noticed that the majority of "losers" were the ones that continued against your position. So even thought they left the envelope and were suppose to return they never returned. Also some had returned back to the envelope BORDER but because your take profit was higher then the distance back to the envelope they drifted back out of the envelope causing a lose.

Some suggestions to improve the above.

Build a mechanism that actually confirms we are talking about a spike that left the envelope and returned. you can do this in the following way

1. wait for price to move out of envelope (that you already do) .
2. Once it reaches the position where you normally would open a counter trending position just raise a flag but don't open the position yet.
3. wait till it reaches at least X pips +- your flag point (+- depending if your short or long) and then wait for it to return to your flag position.
The top 3 were also suggested also by L2T (Learning2Trade) from the above post and I think you mentioned (can't find where) reverse indicators
4. BUT I THINK THE BEST WAY TO ACTUALLY CONFIRM WE ARE TALKING ABOUT A SPIKE IS THAT IF ALL THE ABOVE HAPPENS WITHIN A CERTAIN TIME FRAME (can be optimized)
5. once it reaches the flag point open the position but now you are actually with the "trend" moving back to your envelope.

As for taking profit.
you can build a take profit target#1 once it reaches back the envelope border (only if it's a winning gain because border changes dynamically) and then target 2 can be the original 42 pips (for euro/dollar). of course moving from target 1 to 2 you would also modify your stop loss.

I also notices that Fibonacci exits (take profit and stop loss) are very powerful. You can see that looking at some of your competitors especially Vince Wells from Position#2 in the competition. I know this would dramatically change your ea but perhaps this strategy can be used for target 3 and 4 If you look at Vice's Journal and Experts tab you will see how the EA keeps modifying the targets and stop loss as each fibonacci line is crossed.

I know some of these issues have been addressed by others but perhaps my little angle could add to the joint effort.

Thanks again for being such a wonderful inspiration.

Reuven

Hi Reuven,

Thanks a lot for sharing your thoughts. Very interesting material! I think it can be of use for the further development of Phoenix. Thanks again.
  • #393
  • Oct 25, 2006 1:19am Oct 25, 2006 1:19am
<!-- / message -->Thanks for help! I have read the hole thread before posting my first reply, and unfortunately I didn't understand that in the post#140 there were presettings for all the currencies. Thanks again!
P.S. I've backtested Phoenix 4.2 from April 2005 till January 2006, the results are floating aroud the initial deposit. From January 2006 deposit started to grow. Modelling quality 90%. Do you have the same results for that period in 2005? <!-- / message -->
  • #394
  • Oct 25, 2006 5:57am Oct 25, 2006 5:57am
Quoting Trader83
<!-- / message -->Thanks for help! I have read the hole thread before posting my first reply, and unfortunately I didn't understand that in the post#140 there were presettings for all the currencies. Thanks again!
<!-- / message --> P.S. I've backtested Phoenix 4.2 from April 2005 till January 2006, the results are floating aroud the initial deposit. From January 2006 deposit started to grow. Modelling quality 90%. Do you have the same results for that period in 2005?
I'm sorry maybe I do not understand what your looking for. If you want settings for a currency pair to backtest you can look in the most recent version of the EA using MetaEditor to find them. I am attaching the settings section of the Phoenix EA in post #140 below. If this is not what you are looking for you may want to explain a little more about what settings your looking for. As for backtesting someone else will have to answer you as to their multi-year test.
Attached File(s)
File Type: zip Settings - v4_2_03 - 1012.zip   < 1 KB | 330 downloads
  • #395
  • Oct 25, 2006 7:06am Oct 25, 2006 7:06am
Quoting nvwine
I'm sorry maybe I do not understand what your looking for. If you want settings for a currency pair to backtest you can look in the most recent version of the EA using MetaEditor to find them. I am attaching the settings section of the Phoenix EA in post #140 below. If this is not what you are looking for you may want to explain a little more about what settings your looking for. As for backtesting someone else will have to answer you as to their multi-year test.
As I understand it, Hendrick uses half a year for backtesting since this seems to work best for his EA. Therefore, backtesting a longer period will give you different results.
  • #396
  • Oct 25, 2006 9:43am Oct 25, 2006 9:43am
Running Phoenix on one account where you trade all the currencies that have settings for them (currently 12) means that you could have up to 12 open positions.

Using the default settings for MaximumRisk of 0.05, you would most likely be safe to maintain 12 open positions. But this leads to possible problems if you bump the MaximumRisk up to lets say 0.1 or above. Your reserve margin requirements may be quite thin. In fact if only half the positions went against you then there is a high likely hood of getting margin called on the account.

Currently with 9 positions open my margin requirements across 100:1 leverage accounts is sitting at around only 180%.

However bumping up the MaximumRisk factor is highly desirable for Phoenix as the default settings has rather limited gains, while doubling the risk factor brings in significantly more profits over the longer term.

Now thinking out loud here ... what about adding an enhancement that factors in the number of maximum possible open positions and factors that into the calculations of lot size. Thereby reducing the chances of getting a margin call.

Harry, What do you think? sounds good, sounds bad, opinion?

I know that this could be easily solved by simply splitting the account into two and trade half the currencies on one account and half on another, but I'm suggesting this as a form of simplifying account management at a particular broker.
Just my 2 pips worth
  • #397
  • Oct 25, 2006 10:01am Oct 25, 2006 10:01am
Quoting saltcafe
Running Phoenix on one account where you trade all the currencies that have settings for them (currently 12) means that you could have up to 12 open positions.

Using the default settings for MaximumRisk of 0.05, you would most likely be safe to maintain 12 open positions. But this leads to possible problems if you bump the MaximumRisk up to lets say 0.1 or above. Your reserve margin requirements may be quite thin. In fact if only half the positions went against you then there is a high likely hood of getting margin called on the account.

Currently with 9 positions open my margin requirements across 100:1 leverage accounts is sitting at around only 180%.

However bumping up the MaximumRisk factor is highly desirable for Phoenix as the default settings has rather limited gains, while doubling the risk factor brings in significantly more profits over the longer term.

Now thinking out loud here ... what about adding an enhancement that factors in the number of maximum possible open positions and factors that into the calculations of lot size. Thereby reducing the chances of getting a margin call.

Harry, What do you think? sounds good, sounds bad, opinion?

I know that this could be easily solved by simply splitting the account into two and trade half the currencies on one account and half on another, but I'm suggesting this as a form of simplifying account management at a particular broker.
Hey Salty!

(Sorry I wasn't there in the weekend at MSN. Will try next weekend).

I think this piece of code:
lot=NormalizeDouble(AccountFreeMargin()*MaximumRisk/1000.0,digits);
takes your free margin in account to increase or decrease your lot size.
  • #398
  • Oct 25, 2006 10:13am Oct 25, 2006 10:13am
Quoting Learning2Trade
Hendrick, great idea on the reversing signals! I was just contemplating that a couple weeks ago. I see only one problem that should be pretty easily remedied:<?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" /><o></o>

<o></o>

How do we avoid having phoenix place many trades during periods of little activity and taking many 5 or 10 pip losses? <o></o>

<o></o>

Possible Solutions:<o></o>

<o></o>

1. Do we limit phoenix to only reversing signals after X pip movement either up or down?<o></o>

<o></o>

2. Do we only allow phoenix to place one extra trade in the opposite direction while leaving the first trade open with the original stops?<o></o>

<o></o>

3. Combination of both?

What are everyone's thoughts on this?

L2T
Hi,

<?xml:namespace prefix = st1 ns = "urn:schemas-microsoft-com:office:smarttags" /><st1:City w:st="on"><st1lace w:st="on">Phoenix</st1lace></st1:City> 5 has several options to open a second trade after the first trade. From back testing I've learned that your results can improve substantially when you start a first trade with a low TP and SL. As soon as this trade is a certain number of pips in profit you open a second trade in the same direction. Seems to work. Problem for now is that a different SL and TP for the first trade mean that your default settings for a pair have to be changed. And that means testing and testing. Wish I could make an EA with the same settings for all pairs. I think Phoenix 6 can do that.<o></o>

<o> </o>
  • #399
  • Oct 25, 2006 10:14am Oct 25, 2006 10:14am
Quoting iezcha
@hendrick
when forward test in micro account this ea execute 0.1 lot, I want use 0.01 lot...where setting that must change,
Hi,

Correct. I have to change the code for Micro Accounts. Will be fixed in version 5.
  • #400
  • Oct 25, 2006 10:15am Oct 25, 2006 10:15am
Quoting saltcafe
Patience Harry ... soon you will be able to!!!
Hey Salty,

Are you offering me a job as EA developer?
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