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Semi automatic EA (Driven Version)

  • #1,481
  • May 22, 2009 1:04am May 22, 2009 1:04am
Hi all guru,
Since we have the daily rule to decide which way to trade and Firebird to trigger a trade, can we combine them all together to have a 'complete' EA to trade automatically?
Happy Trading.
p.s. I have followed the daily rules and used firebird to trade since 1 May, now my account up 10%.
  • #1,482
  • Edited 5:40am May 22, 2009 5:23am | Edited 5:40am
Quoting TheGabriel
Trading manually, both live and demo.
Hi TheGabriel.
What was your deposit before you blow out account?
  • #1,483
  • May 22, 2009 5:52am May 22, 2009 5:52am
430$, -280 - 150.
"Hate the sin, love the sinner." - Gandhi
  • #1,484
  • May 22, 2009 6:14am May 22, 2009 6:14am
I thing it is too small account to trade with this ea. Maybe 15K will be enough. Two months ago I blow out my 1K account with another EA. It was freaky feeling few days after...
  • #1,485
  • May 22, 2009 11:58am May 22, 2009 11:58am
You're right, though the trade I closed manually to leave that 150$ into the account, now would have been closed with take profit....it had been in range for 3-4 days....
"Hate the sin, love the sinner." - Gandhi
  • #1,486
  • May 22, 2009 12:02pm May 22, 2009 12:02pm
When I back test FireBird, I found that if you trade with 0.1 lots, it is easy to get a -$600 drawdown in no more than 3 days (I use 150 pips stop loss, if I use 300 pips I double the loss). But of course it will quickly gain back.

So make sure you have more than $2000 in your account if you want to trade with 0.1 lots.

Another thing I found is very useful is to set Manage_Trade to True, and set Index to 1. This way if the previous 4hr bar is red, the EA will stop trading. That way you may lose some good oppurtunities but you are protected well too.
  • #1,487
  • May 22, 2009 12:23pm May 22, 2009 12:23pm
How many currencies you were trading for a -600 drawdown? That can be avoided if you set a very big number for the pipstep so it doesn't open new positions if the trade goes against you.
"Hate the sin, love the sinner." - Gandhi
  • #1,488
  • Edited 2:03pm May 22, 2009 12:33pm | Edited 2:03pm
Just one pair -- GPBUSD.

Here is the details. From Jan 16 ~ Jan 19, there are 4 losses for a total of -$600

Keep in mind this is backtesting, so it is fully automatic. In real world, I may be able to control that loss by close orders or turn off the EA. But I may make wrong decisions, I would rather let the EA work by itself. The only thing I want to adjust is the lot size, if I am not sure, I will use smaller lot size, once I am sure I will use bigger lot size (It is really hard to decide ). I don't want to close orders since a pending drawdown may become a winner.
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  • #1,489
  • May 22, 2009 2:42pm May 22, 2009 2:42pm
TheGabriel

Yea you are paying your tuition fee we all go through the process. I have blown four accounts, so I am no stranger. Thank God now i making profits. The difference between a successful trader and an unsuccessful trader is not the system the use is thier thinking, thier pysch. The market will go where it wants to go our job is to follow it and not get ahead of it. Thats why the most important skill in forex is to know when to take a loss and reverse you position, let the market lead.I think you should read trading in the zone it is an eye opener. And for all newbies out there pls leave those jpy and cable monsters alone if you do not understand currency correlation, go learn the trade ropes with Eur Usd and understand when the market is in risk aversion mode or risk appetite drive, This is particularly important for knowing which direction to drive the EA.

Quoting TheGabriel
Margin call for me guys, so...
LISTEN TO MR FUNDAMENTAL AND MR TECHNICAL
  • #1,490
  • May 22, 2009 5:38pm May 22, 2009 5:38pm
HI all
My three days of trading on demo.. I set T/P 500pips (5digit), it works much better then 1000, more often win trades...I ride on trend of course
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  • #1,491
  • May 22, 2009 6:50pm May 22, 2009 6:50pm
I was following this thread up to about a month back when I stumbled on a fully automated EA. Just to inform SamuraiPower that a fully automatic EA now exists because he said he would like to hear of any such.

It's an aggressive scalper EA that works only on pairs with 1-2 pip spread max. Although the original EA called ISEA am told, works with Sigma forex but I'll never trust that broker with 1 cent of mine!

So I simply got an excellent coder to study how the EA works and I got it at a good discount. Works 24/5 without any form of intervention though I use moderate to conservative settings for my dozens of managed accounts. It's great for my portfolio as an account manager as am now able use my time to simply keep recruiting more clients than ever.

Also added 2 more hours to my sleep time, LOL

Here's their statement:
http://sigmaforex.mt4live.com/
http://isea.mt4live.com/

BTW: My EA trades more like the first unlike the second. Besides, which broker will let you trade mammoth lots like the latter, or even let you cash out their $$$ that fast? Not in your wildest imagination
From the tips to the dips, it's all about the pips
  • #1,492
  • Edited 1:06am May 23, 2009 12:56am | Edited 1:06am
Quoting Deathless
HI all
My three days of trading on demo.. I set T/P 500pips (5digit), it works much better then 1000, more often win trades...I ride on trend of course
I tried with tp more than 100pips seems its not an optimum tp, i think 100pips is the optimum setting for the tp since the ea got a max profit but in low range market 50pips tp and lower sl might be the optimum one.
  • #1,493
  • May 23, 2009 1:02am May 23, 2009 1:02am
0.1lot for every 10k acc is a must or 0.01 for 1k acc, when i had a loosing trades sometimes 1000pips i managed to regained in 3 or 4 days, but always profit in the end of the month.
  • #1,494
  • May 23, 2009 1:08am May 23, 2009 1:08am
i'll check it out when i got back home theforexexpert.
  • #1,495
  • May 23, 2009 1:18am May 23, 2009 1:18am
Just to inform u, first time trading as a newbie trying to predict the market movement was a hard task, clueless most of the time, but by watching and learn daily tf behaviour gives me a clue on how i trade on smaller time frame, i manage to spot many high probabilty setup with minimum risk, i loss a small pips when i had a loosing trade. mhmm.. just interesting watching my self gain experience
  • #1,496
  • May 23, 2009 3:44am May 23, 2009 3:44am
Quoting theforexpert
It's an aggressive scalper EA that works only on pairs with 1-2 pip spread max. Although the original EA called ISEA am told, works with Sigma forex but I'll never trust that broker with 1 cent of mine!

Here's their statement:
http://sigmaforex.mt4live.com/
http://isea.mt4live.com/
This must be ''holy grail'' you found
  • #1,497
  • May 23, 2009 5:03am May 23, 2009 5:03am
Quoting theforexpert
I was following this thread up to about a month back when I stumbled on a fully automated EA. Just to inform SamuraiPower that a fully automatic EA now exists because he said he would like to hear of any such.

It's an aggressive scalper EA that works only on pairs with 1-2 pip spread max. Although the original EA called ISEA am told, works with Sigma forex but I'll never trust that broker with 1 cent of mine!

So I simply got an excellent coder to study how the EA works and I got it at a good discount. Works 24/5 without any form of intervention...
Hi theforexpert,

Does ur ea trade n the same ptinciple as the driven ea? The result is good and commendable and i will like to try it out and i know many others too.

You can pm or reply me.

Thanks
  • #1,498
  • May 23, 2009 6:13am May 23, 2009 6:13am
Quoting okehiedon
TheGabriel

Yea you are paying your tuition fee we all go through the process. I have blown...
Thank you, I'm going to read that.
In the book there's info about the risk appetite?
"Hate the sin, love the sinner." - Gandhi
  • #1,499
  • May 23, 2009 6:20am May 23, 2009 6:20am
Quoting theforexpert
I was following this thread up to about a month back when I stumbled on a fully automated EA. Just to inform SamuraiPower that a fully automatic EA now exists because he said he would like to hear of any such.

It's an aggressive scalper EA that works only on pairs with 1-2 pip spread max. Although the original EA called ISEA am told, works with Sigma forex but I'll never trust that broker with 1 cent of mine!

So I simply got an excellent coder to study how the EA works and I got it at a good discount. Works 24/5 without any form of intervention...
Your statements are just amazing. And the lots .

I thought about trading for a few pips with big lots but you need to catch that pips very fast so the trade would not go against you. What timeframe does your EA use, is it a custom EA?
It opens multiple trades at a time?
"Hate the sin, love the sinner." - Gandhi
  • #1,500
  • May 23, 2009 6:50am May 23, 2009 6:50am
Please provide more info on your EA. Are you selling your EA?
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