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Semi automatic EA (Driven Version)

  • #1,741
  • Jul 11, 2009 10:33pm Jul 11, 2009 10:33pm
Quoting spymez
Hi Actionpl

I have been testing v1.5c.

Version 1.5c is not executing trades.

"Waiting for main trend" msg is displayed.

Could you please have a look at the code?

Thanks a million

Spy
Look at post 1735.
You need to read previous post if you want to use correctly this system.

Bye
  • #1,742
  • Jul 11, 2009 10:38pm Jul 11, 2009 10:38pm
many thanks to samuraipower & actionpl & all of you who have contributed to it!!

i've been day-trading forex in manual way & been quite profitable. The problem is 'time-consuming', plus i still have to manage my stocks & future positions, i really exhausted. i've been trying to build a fully auto ea with all kind of ideas, but still cant find a way to make it positive expectancy in the simulation from 2005, problem is chart pattern recognition is really an art that machine cant understand.

firebird ea works similar to some swing technique which trade during retracement in the major trend, idea that am comfortable with. plus now i can use my chart pattern knowledge to tell the machine when to start & when to stop, and the good thing is i dont have to sit in front of monitor for few hours per day, just to get few ten Rs per month.

thanks!!
  • #1,743
  • Jul 12, 2009 10:04am Jul 12, 2009 10:04am
Thanks ActionPL for your help.

I have concerns about the risk of this system.

It has a large SL @ 300 pips and opens 5 positions when the market is going against us. Then it hedges those positions. If we are trading 8 pairs the worst case scenario is we have a total of 40 positions open. If the market moves against us (trend change) we could conceivably be in very large drawdown and even margin call. The question then has to be asked, what is our total overall risk to our account (VaR)? I don't think this issue has been adequately addressed? Since we are going down the automated route, perhaps a coder could implement an advanced money management routine to allow the trader to control risk more effectively. I for one think this is a great system but we need to prepare for the worst should it occur.

Any thoughts?

Cheers

Spy
  • #1,744
  • Jul 12, 2009 10:33am Jul 12, 2009 10:33am
Hi,

I'll do these things to control the risk:
1. position size properly to have lotsize number such that 300pips stop is only 1R risk (my 1R is 3% of my total capital)
2. set MaxOpenOrders to 2-3, i see this still yield good result in my backtest
3. use Main_*Trend_Alert_ rather than *_Trade_Alert_ which will not open reverse position when trendline broken
4. use default Reduce_factor=2, it'll cut the stoploss by half when trendline broken. thus, if you have 2 open orders and the trend reverse, the total risk will be lower down to 1R rather than 2R originally


Quoting spymez
Thanks ActionPL for your help.

I have concerns about the risk of this system.

It has a large SL @ 300 pips and opens 5 positions when the market is going against us. Then it hedges those positions. If we are trading 8 pairs the worst case scenario is we have a total of 40 positions open. If the market moves against us (trend change) we could conceivably be in very large drawdown and even margin call. The question then has to be asked, what is our total overall risk to our account (VaR)? I don't think this issue has been adequately addressed?...
  • #1,745
  • Jul 12, 2009 11:32am Jul 12, 2009 11:32am
Hi actionpl,

I have 2 questions regarding trendline control:

1. Let say i want the EA starts to take trade when it breaks the equilateral triangle (using trendline watch feature), should i put "Main_UpTrend_Alert" & "Main_DownTrend_Alert" trendlines together? But i read from the manual that we should put only 1 "Main" trendline.

2. I only want to trade short, so i have put a "Main_DownTrend_Alert_" trendline. but i want it to start trading only when it breaks certain line. so i put another line as "DownTrend_Alert_" and enable the trendline_watch function. will it work?

Many thanks
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  • #1,746
  • Jul 12, 2009 8:06pm Jul 12, 2009 8:06pm
With the Firebird Automatic v1.3a what happens at trend change? Does the EA close open positions and reverse or just let them float to p/l based on firebird?

Thanks guys. You have been a great help.

Cheers

Spy ;-)
  • #1,747
  • Jul 13, 2009 6:32am Jul 13, 2009 6:32am
The trades just float.
"Hate the sin, love the sinner." - Gandhi
  • #1,748
  • Jul 13, 2009 8:09am Jul 13, 2009 8:09am
Quoting TheGabriel
The trades just float.
Hi TheGariel. Thanks for sharing your results. Nice job. May I ask what version you use to get those results....and what are your settings. Thanks again. Much appreciated.
  • #1,749
  • Jul 13, 2009 9:18pm Jul 13, 2009 9:18pm
Quoting soonhwei
Hi actionpl,

I have 2 questions regarding trendline control:

1. Let say i want the EA starts to take trade when it breaks the equilateral triangle (using trendline watch feature), should i put "Main_UpTrend_Alert" & "Main_DownTrend_Alert" trendlines together? But i read from the manual that we should put only 1 "Main" trendline.

2. I only want to trade short, so i have put a "Main_DownTrend_Alert_" trendline. but i want it to start trading only when it breaks certain line. so i put another line as "DownTrend_Alert_" and enable the trendline_watch...
Question #1: The EA will not work reliably with two Main_*Trend_Alert_
So, will not do what you are looking for. This could be a good idea to implement. I will look if it can be implemented easily.

Question#2: Your setup is OK, the EA have been design to do just that with variable TrendLine_watch = true Once the DownTrendline will be hit, the system will start to trade in the direction of the Main trend line.

Valid for version 1.5*

Bye
  • #1,750
  • Jul 13, 2009 9:27pm Jul 13, 2009 9:27pm
Quoting spymez
With the Firebird Automatic v1.3a what happens at trend change? Does the EA close open positions and reverse or just let them float to p/l based on firebird?

Thanks guys. You have been a great help.

Cheers

Spy ;-)

The EA will stop openning new trades and will use the Stop lost to close your trade if hit.

You need to switch to version 1.4a if you want the EA to close trades when price action hit your trend line. To activate this automatic close fonction, you need to insert Close_ in the description. Ex. UpTrend_Close_Alert_

Bye
  • #1,751
  • Jul 13, 2009 9:36pm Jul 13, 2009 9:36pm
Quoting ayoneeyee
All along I kept saying I'm using Firebird_3.1a, i was looking through my chart today and I found out it was version 1.3a. All along i kept placing the 3 before the 1 - I guess it must have been too much excitement that clouded my eyes - All I can say is i'm sorry if I got you confused with this - that was my bad.

That said, it's still a wonderful system making greens - this week 15+ winning trades, no loss so far. So no matter the version you use, its the same Firebird. I was a bit worried about the NFP, but it does very well with NFP - that...
The new rules will prevent us to have two open positions buy and sell at the end of the day. So, you can't use the Option Trade_ in your description. (For version 1.4a and up)
The FIFO rule will in fact restrict us to have only one trade open at a given time. So we will need to set variable MaxOpenOrder = 1.
I did not see any reference that will prevent us to use Stop Lost or Take Profit.
If you have some information about that, please send me the link.

We will need to find a new setup that will produce good results with those constraints.


Bye

ActionPl
  • #1,752
  • Jul 13, 2009 11:51pm Jul 13, 2009 11:51pm
Quote
Originally Posted by Actionpl http://www.forexfactory.com/images/buttons/viewpost.gif
The new rules will prevent us to have two open positions buy and sell at the end of the day. So, you can't use the Option Trade_ in your description. (For version 1.4a and up)
The FIFO rule will in fact restrict us to have only one trade open at a given time. So we will need to set variable MaxOpenOrder = 1.

Is it possible to modify the EA so that the second trade lot size is slightly different (e.g. .100 first trade and .101 for the second trade) so that it complies with the new rule and won't be subject to FIFO? I guess this has to be researched. Thanks. Regards.
  • #1,753
  • Jul 14, 2009 12:38am Jul 14, 2009 12:38am
Quoting Inquisitor
Is it possible to modify the EA so that the second trade lot size is slightly different (e.g. .100 first trade and .101 for the second trade) so that it complies with the new rule and won't be subject to FIFO? I guess this has to be researched. Thanks. Regards.
I was thinking about same thing althou i too am not sure if this is the 100% sure solution. But in any case it would be great if each trade could be user defined.

PS. This thread is really interesting, im going to try to catch up on it in next few days.
  • #1,754
  • Jul 14, 2009 3:35am Jul 14, 2009 3:35am
Quoting TheGabriel
The trades just float.
Thanks Gab

What is your MaxOrders and are you using trailing SL?

Thanks

Spy
  • #1,755
  • Jul 14, 2009 8:23pm Jul 14, 2009 8:23pm
Quoting ollypips
Hi All
Thot this might be relevant since another NFP day is around the corner
It is from a blog I read daily from fxstreet....
Anyone here following Dr. S. Sivaraman?
  • #1,756
  • Jul 15, 2009 9:21am Jul 15, 2009 9:21am
FB 1.5c in full-auto. My best results ( with another brokers are different ).
Thank you Samurai and Actionpl !!
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  • #1,757
  • Jul 15, 2009 12:25pm Jul 15, 2009 12:25pm
Quoting Anaphylaktos
FB 1.5c in full-auto. My best results ( with another brokers are different ).
Thank you Samurai and Actionpl !!
Why do you not have a T/P on all orders that have hit Trailing S/L
Your T/P is 0.000.
Is this a bug in the EA ?

Still good results but hard to say if you would have ever hit a T/P as there was never one to hit, if there was a set T/P then your profit probably would have been even better rather than stopping out on a stop loss
  • #1,758
  • Jul 15, 2009 12:42pm Jul 15, 2009 12:42pm
Yes, you are absolutelly right, I could have had better results, I know that, but we alltogether must improve the basic settings of the FB! This is my fourth step... I think I will cancell the Stoploss, who knows? I go on testing..
Salute!

Quoting chongsparks
Why do you not have a T/P on all orders that have hit Trailing S/L
Your T/P is 0.000.
Is this a bug in the EA ?

Still good results but hard to say if you would have ever hit a T/P as there was never one to hit, if there was a set T/P then your profit probably would have been even better rather than stopping out on a stop loss
  • #1,759
  • Jul 15, 2009 12:56pm Jul 15, 2009 12:56pm
Quoting TheGabriel
It's a 30 pips take profit and a 300 pips SL (I know is not that good)...
LOL

300 pips SL and 30 TP :O

If you play random position with that bad MM you will win in most case but 1 lost all TP lost

The most important thing in Fored is Money Menagment
"Buy on fear, sell on greed !!!
  • #1,760
  • Jul 15, 2009 1:45pm Jul 15, 2009 1:45pm
Please, compare my previous post, ...
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