Firebird EA - fixed version -

I just finished the whole thread and I have one question:

What is the difference of changing the TF in MetaTrader from changing it in the settings of FB3.2.

Thanks for any replies.

any one can share the safest setting for this EA?

There are a lot of different version of FB...Can anybody tell me which one is the latest and more accurate, I'd like to start demoing and I don't know which one to pick. Appreciate.

Don't waste your money and time on this.

I am serious. It does great for three months (or three days) and then erases all your gains and 50% of your deposit. Just move on.

My intentions was to use this along with a trend following strategy but it wont work the way I want it to. Maybe someday....

I only just started demo trading FB and I just want something that works. Can you recommend something better? I'm willing to try anything. Thanks.

In my opinion:

EA's are trading tools. Firebird is a great tool for a specific set of market conditions. I wouldn't use a wrench to hammer a nail... I increased my live account 50% with this tool, and I held on to my gains. Not bragging... I'm sure many traders did better with it than I did, but they're probably tired of hearing the same old complaints after repeated warnings. Anyone who studies this thread will see that it is rife with cautionary posts about the fact that this EA is not for inexperienced traders. Does that make it a "bad" program? No.

In fact, I don't believe new traders should waste their time with EA's at all for at least the first year or two. All the same rules apply to profitable manual trading. Learn to trade manually (and profitably) before working on anything like this. Retail Forex vendors don't provide Metatrader with it's automated trading capabilities because they think it will make traders more money. Going back to the tool analogy... if someone hasn't learned to effectively use a hand saw yet, then they'll make a bloody mess with a power saw.

Sm31,

What do you think about using it as an indicator, basically, in a ranging market, manually executing the orders that it takes on a demo from the same data feed? I've been considering it, since I've seen how successful it can be in a ranging market where trend reversal methods don't work...

I haven't tried it, but I bet it's worth a try. I think my primary concern would be getting "overloaded" with trade signals. This can be a busy little EA! But for an experienced trader, that's probably the best filter of all.

On the 10th of December I decided to start using Firebird 3.2 in a $200 account. From my perspective, after some demo testing I considered that EURUSD and USDCHF were the best performing pairs, so I let run this baby 24 hs. a day in my little account. Today my account balance is more than $1000, an equity almost the same.
I want to say thanks to Wackena for this excellent version of Firebird (and also TraderSeven), which is think is the most stable and well performing of all. You have my admiration and gratitude for your disinterested effort and help. Keep up the good work!
Below I atatch my account history.

Best wishes!

pabloski

Hi, this may be a silly question, but I downloaded the Firebird 3.2, compiled it and tried to backtest. But, I don´t get any signals! Is there som adjustment I´ve missed?

hi guys need to know where can i get the latest fixed version for testing.
thanx

What settings did you use? Did you use micro or mini lots?

Congrats...

I left the settings as they were, I just compiled it and placed it in Experts. It doesn´t produce any signals on GBPUSD or EURUSD, the ones I usually try.

Default setting is 0.1 lots.

Rgs

I tried a combination of different versions for the last 4 weeks, I got 60% profit. awesome!!!!!
The most aggressive is the original version V63g. which produced the higher return but sometimes seems out of control.
The only pair that went negative was GBP/USD twice (I cut losses to 100 pip each, but could have run to 200 pips loss which would have hurt my acc harder) This pair was dropped for next week.
In addition, when I saw a couple of trades stacked from one day to the other I cut it to allow the program to start another trade and avoid the waste of time.
I am working V63-TS on EUR/USD and USD/CHF for this week starting today, not a signal so far...
I think this EA works great but requires a close vigilance and active participation to be alert to cut excessive losses if you consider the market is trending to the wrong side (based on the news or other indicators) or to release stacked trades, I consider better to accept a small loss and enter a new trade than being involved on the same trade all the week blocking the way to a potential profitable trade (but this depends on every trading style)

Hope this helps someone.

Thanks to each and every participant in this thread for your disinterested collaboration and help.

I agreee 100% with you on that. V63-TS is a great little EA, but it does need supervision. It has poor open trade management. There have been attempts, by others, to impliment some sort of trade management that would close lossing trades if they were x days old, and too far into the wrong side. Firebird has a routein that averages the take profit level when it opens more then one trade. This is so that when the price retraces a little all the open trades close at once, then FB can open a new set of trades. I haven't seen this implimented yet, so I am not sure it is profitable, or if it even works. I have looked at it, but I am not up to the programing task.

Rusty

Hi I'm In A Need For Ea. That Can Handel Up To 10 Open Orders ,
I Need It In Order To Put My Signal In. So If You Have Any Ea. Like This Pls. Send It To Me. Thank You Mich Guys.
David

Has anyone come up with any good ideas for hedging Firebird's trades? For those times when Firebird gets away on a strong trend, I'd like to enter an opposing trade. Just not sure where to enter it and when to take profit. Woud it be better to take it on the first entry, or wait for the first pipstep and tp on the next pipstep. Any ideas? I know there is one version of FB somewhere that included hedging, but not sure of the logic behind it. If anyone knows, please share. Thx.

Firebird 3.2 includes hedging, but I don´t know the exact logic. At first I couldn´t get any signals from it, but I came across a set-file and it then worked in backtest. Unfortunately it doesn´t seem to work in forward test.

Yes, Firebird 3.2 includes hedging. To know the logics, just read the comments inside the code when you open de .mq4 file with the MetaEditor.