Firebird EA - fixed version -

SamuraiPower, thanks a lot for answer.

This seems to work well for me SamuraiPower whenever I point in the direction of the trend.

Great profits so far on my demo.

I watch the COT reports and do some basic trend analysis to see if the pair is going in the direction I want and then I set the EA to only trade that direction and it works great ;P gratz on the Firebird EA and Indicator and thanks for your input SamuraiPower!

Maxss

SamuraiPower does the MA crossover indicator repaint?

if u notice the plain candle u will see that the trend was about to change, and also confirm with the indicator,at that time its risky to trade, spescially when it moves more than 200pips against u, u might blow your account, just trade when the trend is clear, and trade just several days a week, u still can make 1000 pips a month, dont over trade. as i mentioned this setting is less stress, if u trade against the trade today then u will know how to use this setting. Btw the pair that i research is gbp usd, learn also the candle stick pattern, its very usefull to determine when the major trend is about to change.
wish us all the good pips in this universe.

regards

Thank you SamuraiPower, this is great....but ea opens many many positions, I have 20 opens at the moment, is this normal?? Can number of trades be limited??

Tnx

P.S. Nevermind....I was (am) playing around with ''pip step'' function and trying to understand it.

usually 20 open position at the same time is not normal, maybe u should check the setting for the pipstep.
lets me show u this,the default setting for pipstep is 40 pips, then when u open buy position and then the market goes against u for -40pips, then the ea will open another buy position, it will do the same thing when it touch -80pips and so on. so check your pipstep and adjust it to your broker platform, the default is for 5 digit broker platform.
so according to SL for 300 and pipstep is 40 then maximum open position at a time is 300 devide by 40 is 7 maximum open position at a time.

regards

Yes...that was it, I was playing with it and set it for ''2pips'' LOL
I understand now... I guess price action will be needed here, to determine trend changes on daily.

Thanks again Samurai and happy pippin mate

Guys, I am trying to add this to my completely automated trading strategy, I.e I ONLY trade EA;s. I am after some feedback on the drawdowns required for this EA ?

Cheers

Guys,
I think there is no EA that will generate profit last forever since the market is changing overtime.

"EA IS TO MAKE YOUR TRADE EASIER, NOT TO MAKE YOUR LIFE EASIER",
so dont put all of your life on it.


Here is my illustration,

let say you set your EA to open position when the market form this condition

(I ilustrate the market condition = sequence of numbers, just like below)

5-4-6-8-9....

when this sequence of numbers forms, the EA will open position and expected to be profit next, let say at this present this market condition generate 80% profit and 20% loss, and you happy

but the market is changing soon or later, and this sequence of numbers no longer profitting, and you pee in your pants.

I think the goal is how to make profit with minimum control and less stress,
even the best strategy like 4H MACD from Phillip Nell is not 100% win, still need brain to manage money management, but with 70% probability of winning the trade.

the basic of my firebird setting (see post 2090) is no different with 4H MACD P. Nell, you still need to:

manage money management,
look for a good entry setup condition,
stay away from the unpredictable, market,
and bla...bla...

the only different is that there is one hard part from the trade that automated (so I use this EA), I say hard becouse I still pee on my pants when I open position and the market against me (can't control my emotion he...).

so "DRIVE" the EA and enter the trade when the market shows a good entry setup, that's how to avoid a huge drawdown.

any other suggestion? or any demo result to post?


regards,
SamuraiPower

Well I'll post then

Just like I told you on post 2090 that this setting can catch more than the market range,

in 4 days trading the market move down for 1243 points and I got 1296 pips till now, it means that this setting dont waste the momentum

I'll show u the detailed statement, see th aattachment

Note: this result is the perfect condition for the setting.
Regards,
SP

For all of you,

just wanna show you a very good advice from seniors i have read from this forum, I guess you have to read it, specially for newbie.

http://www.forexfactory.com/showthread.php?t=27286
http://www.forexfactory.com/showpost...1&postcount=75

SamuraiPower

Ok here is the result of my "Firebird Drive" setting,

2200 Pips from 16 Jan 2009 (8 days trading)

pay attention between the two statement I attached, I think U can find when I drive the EA to "Long only" from "Short only"

Condition:
TP : 100 pips
Drive the EA to "Long only" at 23 Jan 2009

anyone foward test this EA?

"See post 2090" for the setting


Regards
Samurai Power

hello SamuraiPower,

I have been testing this EA recently and had a question. When you see the daily trend change do you let the current trades that are in play ride out or do you close all trades even though they maybe negative and then drive the EA in the correct direction?

Kind Regards
Justin

HI jdogg4000,

It depends to the market,I usually look for the daily candle pattern as my other indicator, but when the market is about to change I close all the opening position of course. This is what I do when I notice that the market is about to change:

1. Safe way, not trade when the market is in the midle of changing direction, and continue to ride the market when the trend is clear, this avoiding drawdown, just take 7 days trading in a month and you probably got 1000pips. Strongly recomended to use this way.

2 Still trading when the market is about to change, I use this just to confirm when the market is about to changing, when I see the frofit for the day less than 100 pips or even negative (but often still profit but minimum) that means I have to Drive the EA accordingly. But I dont recomend this, I only use this way on the demo.

Hope that help jdogg4000


"See post 2090 for the setting"
Samurai Power

Important thing u have to know guys
Maybe there is a question why do you have to use 300pips for the stoploss?

from what I know that it is still save as long as u still follow the daily trend, when it's negative dont worry becouse the market will recover it (as long as u follow the daily trend), its normal to have negative open position becouse this EA will open the position on retracment. Let me show u

Lets say the daily trend pointing to move down , but the price dont moves smoothly down right"?,it retrace (against the daily trend for temporary), when it retrace the EA will open position, it means that it will be negative for a while but soon the market will recover your position to positive becouse you follow the major trend.


SamuraiPower

" I tried to scalp but can't stop peeing in my pants when I see the negative open position"

I think I'm about to have another 100 pips for today, ready to reach 2300pips in 8 days trading, i'll post the detailed statement if i'm still awake, its now 10:41pm at my country, out of town tomorrow morning doing my job as a very busy employee.

SP

Wow its just 3 minute ago and now another 100 pips, told ya....

I attach the detail statement for u guys to learn.

See you guys in the next several days, gotta sleep, by now.


SamuraiPower

"See post 2090 for the setting"

"Wish us all the good pips in the universe"

You're trading only short or long based on the trend. There's lots of indicators that will tell you what the trend is. My biggest question on trend trading is how do you know when the trend will end, and how much of a loss will you incure with this ea if the trend reverses? What method(s) do you use to determine if the trend will continue, and what session do you enter at? Finally, can this trade at smaller amounts, such as 10 cents, 20 cents?

I have been toying with this since Samurai's Post and this EA does seem to work really well when trading with the daily trend.
I have been trading (on a demo of course)
TP: 200
SL: 200
PipStep: 50

The EA is able to make quite a few trades and maybe fails once or twice at the end of the trend (So Far).
When the trend changes quickly against me I am usually able to get out before any trades or executed or at a small loss.

An idea that I have been toying with is closing all trades on that particular trend after I make 500 Pips. Takes me out of the market early so I don't have to worry about the bounce at the bottom but means I could miss out on a lot of pips if the trend continues for awhile.

Anyways it was a great point to make. Thanks again SamuraiPower!!

Hi Paradoxical,

well one thing for sure I dont know when the trend is change otherwise im a pipslionare by now, im sure u know better than me to recognize it, me myself only using the indicator i attach on post 2090 and candle pattern, I like simplicity.
how much loss incure when trend changing? well my answer is big enough if the market change to the opposite direction suddenly more than 200 pips, so i strongly recomended not to trade when the market is changing, continue to ride when the trend is clear, im not gonna stop saying that. I think what maxss280 says is definitely correct, just get out the market early when u feel doubt about trend direction even if u miss lots of pips then, much better than enter the market and then loss, knowing when to stay out the market is one of trading skill right?
i control my chart once a day, usually after new daily candle shows, so i can analyze the yesterday daily candle.
i dont know if this EA can use the unit in cent, never try that, but u can explore it by yourself.
i think maxss280 knows really well bout this setting already, thanks for sharing your idea. Maybe you can help me answering question since its hard for me to find a correct focabulary coz english is not my default language. SL 200 TP 200 is quite interesting setup maxss280.
Btw I got another few hundreed pips for total 2500 pips from 16 Jan (9 days trading). cant post u the detailed statement since i write this from pda. ill attach it as soon as i can.

Regards,
Samurai Power

"see post 2090" for the setting
"Wish us all the good pips in this universe". damn i realy like those words