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Semi automatic EA (Driven Version)

  • #961
  • Apr 2, 2009 8:19am Apr 2, 2009 8:19am
Quoting Jayman02
Did you place it on a M5 chart and do you see the smiling face at the top right?
Yes, I have it on 5 min chart with the smily face on the right.
In Options - expert advisor: (I have checked the following)
Enagle expert advisor
Allow live trading
Allow external espert imports
In Expert advisor -- properties:
I the same as above + short only (or long only)

So far, I have this settings now for about 2 days with no activities.
  • #962
  • Apr 2, 2009 8:36am Apr 2, 2009 8:36am
Hi B&B
I am going to speculate that probably the all the criteria to take the trade were not met (I suspect the Divergence limit).
I have turned one FB on GBPUSD today since morning and also no single trade yet but I will just let it be.
Ciao
Lanre

Quoting BullsAndBear
hmmmm, why would this happen?

I set the bird on e/u last night before bed. right before a nice retrace. it triggered an order @ 1.3265, nice entry, and closes for 75 pips,,,hoorah. then e/u retraces again @ 1040 gmt, for about 56 pips, yet no trigger. it was a nice retrace for perfect entry. pipstep is set to 40. everything set exactly per instructions. does this happen sometimes???

thank you guys for all this info. I am keen to learn this ea.

bulls
  • #963
  • Edited 9:23am Apr 2, 2009 9:17am | Edited 9:23am
Hi All
I have been testing again and here is a "short" summary. (After another 100pips booked on USDCHF today, there is a lot of incentive to do this ...lol)

I am testing the effect of the TP, DVLimit, Divergence Limit and Percent - settings on Drawdown, Profits and number of trades on the GBPUSD between 17-12-08 and 30-12-08
For this I am using the default setting for most of the parameters (http://www.forexfactory.com/showpost...&postcount=949)

The first test is to see the effect of percent of the drawdown and no. of trades, So I used the range 0.01 to 0.1 (pass 1 to 10 optimisation report_percent see file in the atachement). From this it clear that lower percent setting makes slightly more profit (100pips) but higher drawdown. Now the decison have to be based on the answer to this question will be can you stomach additional 3% drawdown for just 100pips? The answer will definitely be personal.

For the next test (Divergence Limit) I used the 0.1 (6.67% drawdown not different from 0.09 percent setting). Here the Divergence limt range of 0.001 to 0.01 was used. Results shows that pass 6 and 7 - 0.006, 0.007 (Optimisationreport_dvlimt file in attachement) has the right mixture of risk and profit by my judgement (i.e. drawdown and profit).

These conclusions (Percent - 0.1, Divergent Limit - 0.006) was carried forward into the next test to see the effect of the DVLimit (I have no idea if it is different from the Divergent limit above but let see). I used the range 10 to 100 (10 passes). For this test I couldnt find any difference at all for the whole range, drawdown same and profit the same (OptimizationReport_DVLimit10-100.htm). So I am keeping that setting at 10 - the default, until there is more information to support changing it.

Finally, I tried the effect of TP using the range 500 to 3000 (I am using a 5digit broker). Remember for this I am also carrying forward the setting from the three previous test. The results (OptimizationReport_TP500_3k.htm) pass 1- 6 = 500, 1000, 1500, 2000, 2500, 3000. In my opinion TP 1500 and 2000 is just about right for GPBUSD, according to this test as they produce nice profit and lesser drawdown with a lesser number of trade. One could also argue for TP 2500 as well since it produced the highest profit but the let down is that it has the highest drawdown.

Thats it for now, the next stage will be to look into another time window and see how these settings will perform.
Hope I didnt bore you too much.
My regards
Keep on Pippin
Attached File(s)
File Type: zip optimisationFB.zip   24 KB | 411 downloads
  • #964
  • Apr 2, 2009 10:27am Apr 2, 2009 10:27am
Quoting ollypips
Hi B&B
I am going to speculate that probably the all the criteria to take the trade were not met (I suspect the Divergence limit).
I have turned one FB on GBPUSD today since morning and also no single trade yet but I will just let it be.
Ciao
Lanre
Thanks

I have read this entire thread and maybe need to go back over it again. So the 40 pipstep is not the only criteria to open another trade. That makes sense now. We got plenty of room to go up so will hope for a nice retrace to open up others. i havent played the gbp/usd pair for awhile. May revisit that pair and see if we get more trades.

thanks a bunch
bulls
Whats happening in EUR/USD should be happening to you!
  • #965
  • Apr 2, 2009 10:50am Apr 2, 2009 10:50am
Quoting gasgas
I never got that alert, don't know why you get it. Try this:
Tools>Options>Events and double click on Expert Advisor sound to disable it.

Or: In common, below where you set Long or Short, uncheck Enable alerts.

Or Simply turn off speakers

Hope that works for you guys.

Thanks Gasgas that did the trick.

Well happy to report when I woke up this morning the EA grapped another 400pips with the EU & GU on long, and UC on short. The interesting thing is this was on my demo account that had the MA = 5 on the M5 charts. On my other demo account which was set to MA = 15 on the M5 charts, not a trade all night, even though everything else was set the exact same way. Hmmmmmm
  • #966
  • Apr 2, 2009 10:58am Apr 2, 2009 10:58am
Quoting RisingSun
What is your SL? Mine is set @300 pips and I had up to 4 steps or levels yesterday on M5 EurUsd "Only Short" but never have hit SL. Now the 4th level got TP and only 3 levels floating. Yes, I have set it to short only since Monday based on HeikenAshi Daily chart trend, which is still short in my readig. My TP is 50, not 100 because of the sideways daily bars. Will change to 100 TP soon as the trend gets "more clear".

I am also suffering from that excessive losses/lots alert thing. Can anyone tell us where to put "//" so that this alert routine...
Hey Rising SL was set to 300, 2 GU orders hit SL at 1.4476, 1.45.16

Cheers
  • #967
  • Apr 2, 2009 11:09am Apr 2, 2009 11:09am
Quoting sergiel
Thanks Gasgas that did the trick.

..... The interesting thing is this was on my demo account that had the MA = 5 on the M5 charts. On my other demo account which was set to MA = 15 on the M5 charts, not a trade all night, even though everything else was set the exact same way. Hmmmmmm
Those are also a criteria to opening a trade. 5MA will detect a trade faster than 15MA on the 5 Mins chart.

So, I guess 3 criterias for the EA to open a trade have been analysed so far;

1) Steps - 40
2) Divergence setting
3) MA period.

This really throws more light on how the EA works. The only probelm now is how to reduce drawdowns. Don't worry we'll figure it out soon.
Cheers.

Ayo
  • #968
  • Apr 2, 2009 11:37am Apr 2, 2009 11:37am
Quoting ayoneeyee
Those are also a criteria to opening a trade. 5MA will detect a trade faster than 15MA on the 5 Mins chart.

So, I guess 3 criterias for the EA to open a trade have been analysed so far;

1) Steps - 40
2) Divergence setting
3) MA period.

This really throws more light on how the EA works. The only probelm now is how to reduce drawdowns. Don't worry we'll figure it out soon.
Cheers.

Ayo
The MA=15 probably ensures more accurate entry points but if last night is any indication it is costing alot of pips in lost trades. Mind you 1 day is way too soon to tell for sure, will keep testing.

Cheers
  • #969
  • Apr 2, 2009 12:27pm Apr 2, 2009 12:27pm
Quoting sergiel
The MA=15 probably ensures more accurate entry points but if last night is any indication it is costing alot of pips in lost trades. Mind you 1 day is way too soon to tell for sure, will keep testing.

Cheers

It's better to miss the money than to loose money. So, for now, I'm sticking with the MA=15.
  • #970
  • Apr 2, 2009 12:35pm Apr 2, 2009 12:35pm
Does it really prevent losing money? I thought using MA=15 just helps find the bottom of a retrace, so you maximize your profits on the trend. I could be wrong but whether you use MA=5 or MA = 15 isn't going to be what keeps you out of bad trades, this will be dependent on your "Driving skills".
  • #971
  • Apr 2, 2009 12:48pm Apr 2, 2009 12:48pm
Is it only me or..
I tried the Trailling Stop version yesterday to see how it perform, but the TS seems not working, if it is then I will change it to the H04 version or v63G again. Any opinion?

Regards,
Samurai Power
  • #972
  • Apr 2, 2009 12:57pm Apr 2, 2009 12:57pm
Quoting SamuraiPower
Is it only me or..
I tried the Trailling Stop version yesterday to see how it perform, but the TS seems not working, if it is then I will change it to the H04 version or v63G again. Any opinion?

Regards,
Samurai Power
Hey Samurai, I haven't tried forward testing yet, but I noticed on the back test the TS made absolutely no difference.
  • #973
  • Apr 2, 2009 1:02pm Apr 2, 2009 1:02pm
Yes sergie, on my backtest too, I thought it will work on live, but it seems no different, anyone else has foward test it and found the TS didnt work?

Regards,
Samurai Power
  • #974
  • Apr 2, 2009 1:10pm Apr 2, 2009 1:10pm
guests? i know some of u guys testing the firebird with TS I attached on my first post, u might asking the same question. If it happens the I will change it again to prevent confusion. Thx

Regards,
Samurai Power
  • #975
  • Apr 2, 2009 3:25pm Apr 2, 2009 3:25pm
I am planning to go Long on EU today. Does anyone agree with this?
  • #976
  • Apr 2, 2009 4:26pm Apr 2, 2009 4:26pm
Quoting sergiel
Well I have posted my good results so far on this thread so only fair that I am honest about my bad days as well.

Big losses today, about 1000 pips, ouch! Went short on the EU and GU early Monday morning (E.S.T.) unfortunately this was the bottom of the downtrend. Instead of closing the orders 10 - 12 hours later when there was a clear uptrend on the H4 I let them ride. 2 hit my SL, and then finally closed the other 3 a few minutes ago. Live and learn.

What is bothering me is that I had both the EU and GU set to Long only for the last 10 hours...
Tuesday night I saw the writing on the wall that the downtrend was over but saw a little indication that the downtrend may resume on the 4hr chart so I left it Short and went to bed. I watched it all day and it seemed to be coming back on the 4hr chart so I let it ride again on wednesday. I had a Big shock this morning. I closed the trades and went long this morning. I am going to stick to the daily chart only. I think that if you watch the smaller timeframes it can get you out early or make you stay in and can be the wrong thing to do. If you are consistant and get in and out by the daily chart I think it is best. At least that is what I did on all my backtesting with great success.
Goal #1 Make Money, Goal #2 Don't Lose Money, Goal #3 Remember Goal #1
  • #977
  • Apr 2, 2009 4:33pm Apr 2, 2009 4:33pm
@Samurai
In my limited experience TS has not proven to work 90% of the time ...
@gasgas
Tx for a helpful advice...
@sergiel
Joining you ... got hit by two SL's today on EurUsd, due to G20. No drigiving on a day storm is forecast!
@ollypips
Research report has been read with high interest/respect. Pls keep on.
I've been reading this thread but lots of what if's, only to lead to confusion (Thread: "Firebird EA, please test this one, it is one of the greats").

Cheers! RS
  • #978
  • Apr 2, 2009 5:26pm Apr 2, 2009 5:26pm
Well, by the time I found this thread it was 60+ pages long and it took me 3 days to get through it. Needless to say, I started demo trading by about the 20th page because I saw the potential this system had. I agree that a KISS approach is best: Keep It Simple Stupid. Too many indicators just confuse the h*ll out of me (i am somewhat of a newbie - about nine months of continuous studying and 2 blown live accounts). I'm just using the original template listed in Post 1 along with the Channel Surfer indicator. I follow the daily chart with confirmation on the 4 hr. I find the channels quite useful (I'm just not that good drawing them myself). I will try to contribute what I can to this thread. Thank you all for your help and info thus far.

Mary
  • #979
  • Apr 2, 2009 5:37pm Apr 2, 2009 5:37pm
Quoting Jayman02
I am planning to go Long on EU today. Does anyone agree with this?
Yes, H4 and Daily so far agree, and I also received a subribed signal that recomended going long on EU: "Buy EUR/USD at 1.3489 or better, stop loss at 1.3289, take profit at 1.3689"

Thats good enough for me, but at your own risk obviously.
  • #980
  • Apr 2, 2009 5:47pm Apr 2, 2009 5:47pm
Quoting sergiel
Yes, H4 and Daily so far agree, and I also received a subribed signal that recomended going long on EU: "Buy EUR/USD at 1.3489 or better, stop loss at 1.3289, take profit at 1.3689"

Thats good enough for me, but at your own risk obviously.
Thanks for the feedback
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