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Semi automatic EA (Driven Version)

  • #61
  • Jan 31, 2009 1:31pm Jan 31, 2009 1:31pm
Quoting todd960960
damonl I was backtesting using 350 pip SL and even if it opened up 2 or 3 positions, the total SL never went over 350 pips for those positions. I don't think it's 350 per trade.

thx,
todd
I was wondering about that to. Glad to hear that is the case and not the other way which I thought it might be. Still wondering about leaving open for 100 pips in profit. If you catch the trend early, either pair could go for 300 pips per day for multiple days.

Question...if you are up in the trend +75 pips and the trade moves back down to +35 pips and the step is set to 40, would a new trade open here?
"Keep your eyes on the helpers" - Mr. Rogers
  • #62
  • Jan 31, 2009 1:31pm Jan 31, 2009 1:31pm
Quoting bnbb2004
That's a good idea Rob! Please keep us posted on your findings! :-)

Also, you may want to use this tool to test multiple pairs. GL!

<<>>

Instructions from original post:

This "indicator" is actually an EA. The EA does not generate trades, it simply reads the closed orders from your account history.

[b]This version allows you to enter 10 separate currency pairs to monitor. The EA will display for each selected pair the number of closed trades, profit, number of wins, win profit, number of losses, and loss profit for each separate...
Thanks, bnbb2004. That's an impressive piece of work.

Rob
  • #63
  • Edited 3:01pm Jan 31, 2009 1:40pm | Edited 3:01pm
Quoting damonl
I have been thinking about this for a while, but not sure I like what I am understanding....

Let's say that you trade with the trend. Okay, a good idae, but that day the pair goes against you. Let's say that it is GbpUsd and moved 400 pips against your trend trade.

Now, every 40 pips that the trade moves against you, it opens another trade with the trend. So, at the end of the day you could literally be down over 2000 pips with 3 trades stoping out at 300 Pips in loss.

Now, the next day the pair trades back with the trend, except it doesn't...

Yes Damonl, u are absolutely correct, im affraid i have to be agrre with u, thats what we call the worst case scenario. But there is no perfect system in this whole universe right? otherwise we all a Pipslionare by now. every trading system has a risk, even the best strategy 4H MACD from Phillip Nell, and they have a method to minimize the risk.

So here is my opinion to counter the worst case scenario.

Its rarely to happen when the market extreemly suddenly reversal more than 300pips to the opposite direction,
and if it reverse in a large range in the opposite direction the market will show the signal first then u would've been notice first and act before its against u, but if u still don't or can't recognize it then i have to say that this forex market is not your world to gain profit.
So trade when the trend is clear, u guys know how to do that right?.

yes its true that based on my experience once I loss 600pips a day (If i loss more than 1500pips it means I have to learn a lot more), but after profiting for days with let say thousands of pips. The point is if u focus on the accumulating result at the end of the month it will give u hundreed or even thousand of pips per month when u using it correctly.

Based on my experience, for your own safety I think u have to put 0.1lot for every $10.000 capital

Let me give u a simple conclusion
Im gonna pick $5000 as my illustration becouse for most of us it is consider as a huge money to give away = 300 is consider to big for a stoploss

ARE U WILLING TO GIVE THE FOREX MARKET YOUR $5,000 FROM YOUR POCKET TO HAVE $15,000 BACK IN YOUR POCKET?

Do you still think that this is the worst case that will happens to you?


Regards,
Samurai Power
  • #64
  • Jan 31, 2009 1:44pm Jan 31, 2009 1:44pm
Quoting damonl
I was wondering about that to. Glad to hear that is the case and not the other way which I thought it might be. Still wondering about leaving open for 100 pips in profit. If you catch the trend early, either pair could go for 300 pips per day for multiple days.

Question...if you are up in the trend +75 pips and the trade moves back down to +35 pips and the step is set to 40, would a new trade open here?
I guess not damonl.


Regards,
Samurai Power
  • #65
  • Jan 31, 2009 2:00pm Jan 31, 2009 2:00pm
Quoting SamuraiPower
Yes Damonl, u are absolutely correct, im affraid i have to be agrre with u, thats what we call the worst case scenario. But there is no perfect system in this whole universe right? otherwise we all a Pipslionare by now. every trading system has a risk, even the best strategy 4H MACD from Phillip Nell, and they have a method to minimize the risk.

So here is my opinion to counter the worst case scenario.

Its rarely to happen when the market extreemly suddenly reversal more than 300pips against u,
and if it reverse in a large range in the opposite...
I still never see more then my 350 pip SL during testing. 3 times it opended multiple positions and the loss was always the same.
  • #66
  • Edited Feb 1, 2009 10:42am Jan 31, 2009 2:34pm | Edited Feb 1, 2009 10:42am
Hi All

Lets talk about statistic, let me give u some review analysis of the result

Please download the spredsheet first.

The box I colored green is when the profit exceed the market range.
It catch 3400 pips out of 3910 pips, it means it catch 87% of opportunity.
3400 pips in 10 days trading means 340 pips average per day

Download the attachment below for u to learn.

Regards,
Samurai Power
Attached Image (click to enlarge)
Click to Enlarge Name: FB SP Setting 5.gif Size: 5 KB
Attached File(s)
File Type: zip Statement 16-30 Jan 09.zip   8 KB | 975 downloads
File Type: xls Recap.xls   22 KB | 1,051 downloads
  • #67
  • Jan 31, 2009 2:36pm Jan 31, 2009 2:36pm
Samurai, your tp 50 or 100? I've seen both mentioned.

Interesting to see firebird again. I traded this years ago in various forms. Directional is best, but 40 pipstep can be too small sometimes.
  • #68
  • Jan 31, 2009 2:40pm Jan 31, 2009 2:40pm
Quoting SamuraiPower
Hi All

Lets talk about statistic, let me give u some review analysis of the result

Date of closing tradeProfit/Loss Market range (High - Low) Deviation2009.01.19 400 487 -872009.01.20 200 581 -3812009.01.21 500 406 942009.01.22 200 332 -1322009.01.23 100 397 -2972009.01.26 400 446 -462009.01.27 600 313 2872009.01.28 200 250 -502009.01.29 500 340 1602009.01.30 300 357 -57Total 3,400 3,910

The box I colored green is when the profit ecxeed the market range.
It catch 3400 pips out of 3910 pips, it means it catch 87% of momentum.
3400 pips in...
Very nice.....I will defeinetly enjoy testing this
"Keep your eyes on the helpers" - Mr. Rogers
  • #69
  • Jan 31, 2009 2:48pm Jan 31, 2009 2:48pm
Quoting BenQ
Samurai, your tp 50 or 100? I've seen both mentioned.

Interesting to see firebird again. I traded this years ago in various forms. Directional is best, but 40 pipstep can be too small sometimes.
I change it to 100 BenQ becouse the market moves in a huge range lately.

Regards,
Samurai Power
  • #70
  • Jan 31, 2009 5:20pm Jan 31, 2009 5:20pm
Hi Samurai

Been following your postings for the past few weeks & must say I am very impressed with what you have done. I think the firebird has always had the potential to be a winner, just needed someone to point it in the right direction. I did use firebird v3.1 for a while last year & was wondering why you favour v63g when the v3.1 version has more functions i.e. hedging, money management, daily time management etc, or is it a case of keep it simple.
Anyway have downloaded your files with the v63g ready for Sunday night.
Thanks again for you hard work & sharing it with us.

Best Wishes
Paul
  • #71
  • Jan 31, 2009 11:34pm Jan 31, 2009 11:34pm
Quoting paul0926
Hi Samurai

Been following your postings for the past few weeks & must say I am very impressed with what you have done. I think the firebird has always had the potential to be a winner, just needed someone to point it in the right direction. I did use firebird v3.1 for a while last year & was wondering why you favour v63g when the v3.1 version has more functions i.e. hedging, money management, daily time management etc, or is it a case of keep it simple.
Anyway have downloaded your files with the v63g ready for Sunday night.
Thanks again for...
yes paul, i've tried all firebird version, test this, test that, and bla..bla..and came up wth 63v original i loved, fits my rhytm and my style. hope it fits yours too.

Regards,
Samurai Power
  • #72
  • Feb 1, 2009 3:49am Feb 1, 2009 3:49am
Should we consider use of daily fib levels?

For now I was more or less scalping on 1m and 5m, and fib levels are great tool and something not to be ignored.
Mabey someone trading only dailys can explain usage of fibs on that TF. !??

Thanks
  • #73
  • Feb 1, 2009 3:50am Feb 1, 2009 3:50am
Quoting FOREXflash
I coded a version with auto trend from EMA, so you dont need
to keep a eye on daily chart for the trend......ea will not trade
buy if price is below ema, and will not sell if price is above ema!!!

You just need to input desired ema period in the first variable I added:

extern int MainTrendPeriod = 200; ma period

Regards
I have download the indicator you posted, and can't load it on my charts,

Do I only need to MODIFY the Expert like this :

extern int MainTrendPeriod = 200; ma period
extern int MA_length = 10;
extern int MA_timeframe = 15; // hdb did I add this ? lol
extern int MAtype = 0;//0=close, 1=HL
extern double Percent = 0.1;
extern int TradeOnFriday = 1; // >0 trades on friday
extern int slip = 100;//exits only
extern double Lots = 0.1; // modified by Renato
extern int TakeProfit = 100;
extern int Stoploss = 300;// total loss on all open positions in pips // modified by Renato
//extern double TrailingStop = 5;

so I've added the top line as what you said?!
  • #74
  • Feb 1, 2009 5:14am Feb 1, 2009 5:14am
ForexFlash,

What EMA should we put in, so that the EA behaves according
to the daily chart template? Or, is it the same period EMA in
template? Is the EA looking at a daily time frame, or a M5 time frame?

Rob
  • #75
  • Feb 1, 2009 5:51am Feb 1, 2009 5:51am
Quoting gasgas
Should we consider use of daily fib levels?

For now I was more or less scalping on 1m and 5m, and fib levels are great tool and something not to be ignored.
Mabey someone trading only dailys can explain usage of fibs on that TF. !??

Thanks
yes gasgas, i actually familiar with fibs, never think bout it b4, i think that is a good idea, since i use daily candle pattern for exit strategy quite often as an early warning. im gonna aply it then.

Regards,
Samurai Power
  • #76
  • Feb 1, 2009 5:54am Feb 1, 2009 5:54am
Quoting ChicagoRob
ForexFlash,

What EMA should we put in, so that the EA behaves according
to the daily chart template? Or, is it the same period EMA in
template? Is the EA looking at a daily time frame, or a M5 time frame?

Rob
EA looks at the used timeframe(5min)....
just edit the first variable I added in the ea:

extern int MainTrendPeriod = 200; (this is exponential ma, with close price)

Just edit this to the period you want to use for the trend detection!!!

but if you want ema to use daily tf....here it is.
Attached File(s)
File Type: mq4 Firebird_auto trend_EMA(daily).mq4   24 KB | 961 downloads
forexflash
  • #77
  • Feb 1, 2009 5:57am Feb 1, 2009 5:57am
Hi Stern-Capita

What FOREXflash made available was a modified EA with a default MA period of 200 which may need to be adjusted subject to forward testing.
You need to place this in your expert folder then replace your current EA with this one.

Regards
Paul
  • #78
  • Feb 1, 2009 6:08am Feb 1, 2009 6:08am
Dont know if you guys know this but EA has 5 unused variables in it:

Close these trades
Close Lossing trades
iFX analyser
Goal Check
Get Slipagge


Also there is a variable that isnt external...

int Direction; //1=long, 11=avoid long, 2=short, 22=avoid short

By using this you can limit ea to make only this trades,
if you guys want I can make this external so you can choose trades!
forexflash
  • #79
  • Feb 1, 2009 6:36am Feb 1, 2009 6:36am
Quoting FOREXflash
EA looks at the used timeframe(5min)....
just edit the first variable I added in the ea:

extern int MainTrendPeriod = 200; (this is exponential ma, with close price)

Just edit this to the period you want to use for the trend detection!!!

but if you want ema to use daily tf....here it is.
Thanks, FF. I took an M5 chart and placed a 200 EMA on it. Looks like
it should do the job and keep the EA out of troubled territory.

BTW, thanks for you valuable contributions. The people on ForexFactory
are a great bunch of individuals.

Rob
  • #80
  • Feb 1, 2009 7:04am Feb 1, 2009 7:04am
Also there is a variable that isnt external...

 int Direction; //1=long, 11=avoid long, 2=short, 22=avoid short

By using this you can limit ea to make only this trades,
if you guys want I can make this external so you can choose trades! Feb 1, 2009 6:57am (58 min ago)

Hi FF
The above would be useful as an external variable although I am hoping that your modified EA will do the trick.
Thanks for your work.

Regards
Paul
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