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Going live with Firebird

  • #1
  • First Post: Edited Jun 14, 2006 7:30pm Jun 12, 2006 4:04pm | Edited Jun 14, 2006 7:30pm
I'm considering going live with Firebird v63G with the attached settings on the major 4. Anyone else live with this?
  • #2
  • Jun 12, 2006 4:08pm Jun 12, 2006 4:08pm
Well for me this has been a fun curiosity, but I am going to stick with actual trading. I like to know what the trade is doing and why... Some people have had good success with this EA though...


Scott
  • #3
  • Jun 12, 2006 4:19pm Jun 12, 2006 4:19pm
I've been forward testing a bit - booked almost 350 pips in the last 2 days of trading with this EA.

Sure is tempting!
  • #4
  • Jun 12, 2006 4:23pm Jun 12, 2006 4:23pm
Damn Lonesprouce, I can't argue with success... Way to go... Scott

Quoting lonespruce
I've been forward testing a bit - booked almost 350 pips in the last 2 days of trading with this EA.

Sure is tempting!
  • #5
  • Jun 12, 2006 4:34pm Jun 12, 2006 4:34pm
Yeah its looking good. I'm not live with this EA but I'm beginning to think - why the hell not! What I'm finding is that there is only one good trade per day - but since it opens more positions as the price moves away - when price returns you end up closing 5 or so positions off of one opportunity.

Now - as you know this is rather counter intuitive compared to what most people say - "never add to a losing position".

I think it's paramount to know what news releases are coming - because the charts tell me that if there is a move that goes 100pips and break major resistance, it's probably not going to come back for a profit. I'm finding that it works really great in the asian and european sessions. Today all 90% of the trades it took were open before the US open.

Now - this is all fine and dandy - but there is still work to be done.
  • #6
  • Edited Jun 14, 2006 7:38pm Jun 12, 2006 5:02pm | Edited Jun 14, 2006 7:38pm
I know what you mean about actual trading, smjones. I'm an esignal person really. I'm trying to automate.
  • #7
  • Jun 12, 2006 5:03pm Jun 12, 2006 5:03pm
lonespruce, what are you doing with the occasional trade that gets away from you a bit? Are you closing manually at a certain pip level?
  • #8
  • Jun 12, 2006 5:08pm Jun 12, 2006 5:08pm
Quoting robp
lonespruce, what are you doing with the occasional trade that gets away from you a bit? Are you closing manually at a certain pip level?
I've just got it set up how i like it in the last couple days. so far it has not lost a single trade. I have one trade in my history that was -5 pips but it was a manual trade that was an accident.

I'm going to forward test this week as there should be some good volatility with all the numbers coming out this week. We'll see what happens. Just so you know I'm only using it on usdjpy, gbpusd, eurusd and usdchf.
Attached File(s)
File Type: zip DetailedStatement.zip   7 KB | 1,431 downloads
  • #9
  • Jun 12, 2006 5:26pm Jun 12, 2006 5:26pm
i am very new to firebird indicator. Can anyone explain to me how it works?

is it for short term trading? what happen when price breaks the line? how do i know it is entry signal?
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  • #10
  • Jun 12, 2006 6:00pm Jun 12, 2006 6:00pm
Those are the same pairs I'm trading on as well. Are your settings different than what I posted at the top of the thread? I'm using those settings on M15 charts. Can you be specific about that you're doing -- settings and charts, etc? I haven't had a loss either. I currently have 4 open trades, 2 in profit and 2 negative. Thx.
  • #11
  • Jun 12, 2006 6:11pm Jun 12, 2006 6:11pm
Quoting robp
Those are the same pairs I'm trading on as well. Are your settings different than what I posted at the top of the thread? I'm using those settings on M15 charts. Can you be specific about that you're doing -- settings and charts, etc? I haven't had a loss either. I currently have 4 open trades, 2 in profit and 2 negative. Thx.
Please tell how to know entry point using firebird....Thanks
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  • #12
  • Jun 12, 2006 6:17pm Jun 12, 2006 6:17pm
Here are my settings. I use the same settings for all the pairs I'm trading on the 30M chart.

MA_length=10
MA_timeframe=30
MAtype=1
Percent=0.16000000
TradeOnFriday=1
slip=100
Lots=0.05000000
TakeProfit=23
Stoploss=200
Fast_Period=23
Fast_Price=1
Slow_Period=84
Slow_Price=1
DivergenceLimit=0.00200000
Use_V63D_Divergence=0
PipStep=30
IncreasementType=0.00000000
DVLimit=10
PipsGoal=500
PipsLoss=500
GMT=2
DST=0
OpeningHour=0
ClosingHour=23
writelog=0

I'm letting Firebird close all of the trades itself.

I'm pretty sure these are the same as the settings in the other Firebird thread. How have you been finding the 15M chart - good success in terms of pips booked?
  • #13
  • Jun 12, 2006 6:18pm Jun 12, 2006 6:18pm
Quoting kenari05
Please tell how to know entry point using firebird....Thanks
kenari,

Firebird is an "expert advisor". This means that you have to use metatrader4 in order to put it on your charts and this also means that it opens and closes trades for you. This means that you don't need to sit and wait for an entry signal - when one comes it will open the trade on its own if you have it set up properly.

hope this helps.
lonespruce.
  • #14
  • Jun 12, 2006 6:22pm Jun 12, 2006 6:22pm
Quoting robp
Those are the same pairs I'm trading on as well. Are your settings different than what I posted at the top of the thread? I'm using those settings on M15 charts. Can you be specific about that you're doing -- settings and charts, etc? I haven't had a loss either. I currently have 4 open trades, 2 in profit and 2 negative. Thx.
Just looking at your settings - 15M with 5% MA Envelope must make a ton of trades! How many are you getting in a given day? Could you post a transaction history?

Thanks.
  • #15
  • Jun 12, 2006 6:24pm Jun 12, 2006 6:24pm
What would happen to the EA's performance if your internet connection goes down or something?
  • #16
  • Jun 12, 2006 6:24pm Jun 12, 2006 6:24pm
Pretty much same pip result as yours. I trade it on another computer, otherwise I'd post the results. I notice you're using MA type 1. I'm using 0, and my percent is a bit different. All my settings were posted in first thread. I notice your GMT is at 2. Have you found the GMT offet makes a difference? I'm demoing this on a GMT platform, but when I take it live it will be a +2 platform. I'm going to try it on 30 minute TF.
  • #17
  • Jun 12, 2006 6:31pm Jun 12, 2006 6:31pm
Quoting Yardie
What would happen to the EA's performance if your internet connection goes down or something?
EA's are user based as far as I know - meaning that your computer controls it and in the event that you lost your connection it would be disconnected from the trades that were open. If you didn't have server-side stops in place you could get into a bit of trouble if the market moved against you.
  • #18
  • Jun 12, 2006 6:32pm Jun 12, 2006 6:32pm
ok, here's my statement using those settings. Are you getting more or less trades than this with your 30 TF and settings? I'm trying to upload the statement file, but I'm getting an "invalid file type error." It's an HTM file.
  • #19
  • Edited Jun 14, 2006 7:39pm Jun 12, 2006 6:33pm | Edited Jun 14, 2006 7:39pm
Here's my statement. More or less trades with 30M and your settings?
  • #20
  • Jun 12, 2006 6:34pm Jun 12, 2006 6:34pm
Quoting robp
Pretty much same pip result as yours. I trade it on another computer, otherwise I'd post the results. I notice you're using MA type 1. I'm using 0, and my percent is a bit different. All my settings were posted in first thread. I notice your GMT is at 2. Have you found the GMT offet makes a difference? I'm demoing this on a GMT platform, but when I take it live it will be a +2 platform. I'm going to try it on 30 minute TF.
I have not played with the GMT settings. But it should make no difference on any bars that are 1 hour and less as the minutes are the same everywhere.

I'm using MA type 1 on the advice of smjones as he noticed that type 0 did not make as many trades.
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