Firebird EA - fixed version -

Quoting traderlismiss

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Has any of the programmers here looked at some of the EA's that performed well in this trend? Pip_boxer is one that comes to mind. I am not wanting to quit Firebird, just gets some fresh ideas.

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Quoting 1trader2

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Traderlismiss, et al:

I have been testing FB for about 6+ months. Both live & demo. As we know FB does horrible in a trend and hits SL causing massive losses. I have found that v 63H04TS_MM, does the best job, but it needs to close trades after five days. As stated in the preface ~ 90+% of trades close in profit within the first five days. I was in the process of doing this and was making progress, when the latest trend hit over Thanksgiving. None of my trades was older than 5 days, most only 2 days old, but I still got stopped out during the night while I was asleep and lost about 30%.

I have been reading about the Goblin EA on TSD Forex and have just loaded it tonight. It looks at Daily Trends and determines whether they are strong or weak and in which direction. If the trend is strongly up, you buy only on the dips; if the trend is ranging/weak downtrend/weak uptrend, you can buy or sell; or if the trend is strongly down, you sell only on the rallies.

If something like this could be incorporated into the envelope of the EA, so that it would always be looking at the overall trend, it might prevent a sudden calamity. The other thing that might help reduce losses is that if the EA senses a strong trend, that it automatically closes all positions until the more ranging scenario returns, thus preventing the EA to run the full amount of the SL.

This in combination with a reduced number of pairs open, pairs to be closed after 5 days, and then incorporating the ideas above. Any programmers game for tackling this?

1Trader2

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Quoting 1trader2

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Traderlismiss, et al:

I have been testing FB for about 6+ months. Both live & demo. As we know FB does horrible in a trend and hits SL causing massive losses. I have found that v 63H04TS_MM, does the best job, but it needs to close trades after five days. As stated in the preface ~ 90+% of trades close in profit within the first five days. I was in the process of doing this and was making progress, when the latest trend hit over Thanksgiving. None of my trades was older than 5 days, most only 2 days old, but I still got stopped out during the night while I was asleep and lost about 30%.

I have been reading about the Goblin EA on TSD Forex and have just loaded it tonight. It looks at Daily Trends and determines whether they are strong or weak and in which direction. If the trend is strongly up, you buy only on the dips; if the trend is ranging/weak downtrend/weak uptrend, you can buy or sell; or if the trend is strongly down, you sell only on the rallies.

If something like this could be incorporated into the envelope of the EA, so that it would always be looking at the overall trend, it might prevent a sudden calamity. The other thing that might help reduce losses is that if the EA senses a strong trend, that it automatically closes all positions until the more ranging scenario returns, thus preventing the EA to run the full amount of the SL.

This in combination with a reduced number of pairs open, pairs to be closed after 5 days, and then incorporating the ideas above. Any programmers game for tackling this?

1Trader2

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Quoting 1trader2

Disliked

Traderlismiss, et al:

I have been testing FB for about 6+ months. Both live & demo. As we know FB does horrible in a trend and hits SL causing massive losses. I have found that v 63H04TS_MM, does the best job, but it needs to close trades after five days. As stated in the preface ~ 90+% of trades close in profit within the first five days. I was in the process of doing this and was making progress, when the latest trend hit over Thanksgiving. None of my trades was older than 5 days, most only 2 days old, but I still got stopped out during the night while I was asleep and lost about 30%.

I have been reading about the Goblin EA on TSD Forex and have just loaded it tonight. It looks at Daily Trends and determines whether they are strong or weak and in which direction. If the trend is strongly up, you buy only on the dips; if the trend is ranging/weak downtrend/weak uptrend, you can buy or sell; or if the trend is strongly down, you sell only on the rallies.

If something like this could be incorporated into the envelope of the EA, so that it would always be looking at the overall trend, it might prevent a sudden calamity. The other thing that might help reduce losses is that if the EA senses a strong trend, that it automatically closes all positions until the more ranging scenario returns, thus preventing the EA to run the full amount of the SL.

This in combination with a reduced number of pairs open, pairs to be closed after 5 days, and then incorporating the ideas above. Any programmers game for tackling this?

1Trader2

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Quoting wackena

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Firebird has one of the better trend analyzer (iFXAnalyzer) already coded in the EA. It is just not used. Using this trend analyzer can help to not enter repeated PipStep orders during wrong direction sustained trends. But also there must be method to exit orders that have been caught up in wrong trend direction before they reach max stoploss. This will reduce the number of trades and there can be several days of no trading during strong trends. While running Ea on M1, M5, M15 or M30, the trend analyzer should be based on higher timeframe (H1,H4 or D1) to better indicate sustained trends.

I'm not aware of any trend indicator code that is 100% correct, or even near it. There will be occasional false trend indications that either prematurely exits existing order or does not enter order at an acceptable point. Overall, profit growth might be slowed down, but may be more consistent over time.

Just a few thoughts.there can be several days of no trading during strong trends

Wackena

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Quoting cgldsmth

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firebird killed once again. I think the time has come, much to my regret, to move on.

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Quoting cgldsmth

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firebird killed once again. I think the time has come, much to my regret, to move on.

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Quoting cgldsmth

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firebird killed once again. I think the time has come, much to my regret, to move on.

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Quoting cgldsmth

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well I've tried lots of versions and settings, even with conservative ones it doesn't make enough on ranging periods without a largish float. so even if everything's closed at the beginning of a trend (which assumes we can reliably detect the beginning of a trend), closing the float removes the profit and more. very disappointing, since I had such high hopes for it.

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Quoting MoneyMa$ter

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Fellow Traders and Traderettes,

I think it comes as no deep revelation that FireBird is one of many trading tools available. It works best during ranging markets, not trending markets (again no deep revelation).

If Forex is alive and dynamic, why trade with the same static strategy? When I terminated FireBird last week at the beginning of the trend, I initiated something else. For example, Sidus and Bagovino are both good trend strategies. So when seasons change and it's freezing cold/raining/snow, you don't dress in beachwear. You change clothes and dress appropriately for the season (if you don't then this message doesn't apply to you!).

Ranging markets will return again, just as sure as the spring thaw comes every year. So cut your losses and shut 'er down during trends until we develop a trend-detection method, be it Goblin or some other tool. And don't cry over evaporated funds; focus instead on the profit you'll make next trade.

Adapt. Improvise. Dominate.

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Quoting teamfri

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Now let's do a comparison of goblin or and a potentially improved firebird.

What is goblin? It is an upgrade of 10point3. It is a hybrid of martingale method with trend detection. Once the ea is launched, it enters a position in the direction of 1h trend, as long as the 1h trend is not against a strong 4h or daily trend.

Suppose firebird is equipped with the same martingale method, and the same trend detection system, also follows the rule that positions are entered in the direction of 1 h trend, when 1h trend is not against a strong 4h/daily. But firebird is intrinsically more selective in openning a trade, it tries to buy on dip and sell on rally from its very birth. Therefore, in theory this improved firebird should be safer than goblin, supposing everything else is the same.

Of course, goblin is subject to further test as well although seems very promising. My point is firebird still has a lot of room to improve itself. I might be right, and might be wrong.

The above comparison is just for making a point. No disrespect to goblin and its author bluto at all. Actually I am very gratefull for bluto's kindness of sharing his excellent work.

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Quoting teamfri

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Suppose firebird is equipped with the same martingale method, and the same trend detection system, also follows the rule that positions are entered in the direction of 1 h trend, when 1h trend is not against a strong 4h/daily. But firebird is intrinsically more selective in openning a trade, it tries to buy on dip and sell on rally from its very birth. Therefore, in theory this improved firebird should be safer than goblin, supposing everything else is the same.

Of course, goblin is subject to further test as well although seems very promising. My point is firebird still has a lot of room to improve itself. I might be right, and might be wrong.

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Quoting demam_emas

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I'm just a newbie, but i have an idea.
Since Bagovino is good at trend strategies, we can set FB to allow only short position when bagovino says bearish, and set FB to allow only long position when bagovino indicates bullish.

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