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Firebird EA, please test this one, it is one of the greats

  • #221
  • Jun 21, 2006 2:48am Jun 21, 2006 2:48am
Quoting lonespruce
I could be 100% wrong as I have not tested the 15M settings - but if you are using the 15M settings - I would forget using this EA during news or "big moves".

I think that this is were you will get killed with run away positions. Again - I have not tested the EA like this so - do your own forward test.
You may be right there. So far though the biggest losses occurred at the start of the week not long after the open. I got 5 losses in a row but easily made up for it by the end of the day.

The problem with news releases is that you never know which ones will move the market most. As Hendrick points out it may be best just to avoid certain times altogether.

Wiz.
  • #222
  • Jun 21, 2006 2:51am Jun 21, 2006 2:51am
Please test this new version of EDEA. Make you own weekly schedule (can also be used to step out before News Events).
Attached File(s)
File Type: zip edea_1_3.zip   451 KB | 474 downloads
  • #223
  • Jun 21, 2006 5:06am Jun 21, 2006 5:06am
Doh!!! Four losses so far today. Those losses add up fast. Ie. 42pips. I may be better off with a larger SL.

Wiz.
  • #224
  • Jun 21, 2006 5:14am Jun 21, 2006 5:14am
I do not see any smilies on my chart. All I see is the label Firebird v63G with an X beside it.

Quoting The Wizard of Oz
Give it a bit more time. When i first started it took a while for my first trade to trigger. As long as you see the smilies on the charts then everything should be working. I have had a few trades today but not recently. 2 losses actually but after about 20 winners who's complaining.

Wiz.
  • #225
  • Jun 21, 2006 5:20am Jun 21, 2006 5:20am
try this
http://www.forexfactory.com/forexfor...&postcount=135


Quoting Yardie
I do not see any smilies on my chart. All I see is the label Firebird v63G with an X beside it.
  • #226
  • Jun 21, 2006 5:36am Jun 21, 2006 5:36am
Thanks SMJones I see the smiley face now. It seems I didnt have it enabled for live trading .

Quoting smjones
try this
http://www.forexfactory.com/forexfor...&postcount=135
  • #227
  • Jun 21, 2006 8:04am Jun 21, 2006 8:04am
Quoting The Wizard of Oz
Doh!!! Four losses so far today. Those losses add up fast. Ie. 42pips. I may be better off with a larger SL.

Wiz.
Same here. I got killed in the Asain and UK sessions. 1 loss closed, with 5 losing positions still open..... OUCH!
  • #228
  • Jun 21, 2006 8:33am Jun 21, 2006 8:33am
What happened? Why so many losses in such a short period of time? And Alphapip was this with Hendrick's new settings?



Quoting AlphaPip
Same here. I got killed in the Asain and UK sessions. 1 loss closed, with 5 losing positions still open..... OUCH!
  • #229
  • Jun 21, 2006 9:05am Jun 21, 2006 9:05am
It was a bad day for Firebird. But please be realistic about that. To learn more about the behaviour of Firebird these bad days are necessary. You can study the trades that were made today and learn more about the different sides of Firebird. Too many people turn their back to an EA after its loosing money. That’s not the way it will work. Most EA's will work in the end if you are willing to study the results and take money management, settings and times in consideration.



We know more now about the settings (see previous posts). Another important issue is when to allow Firebird to place trades. I'm at GMT+2 and after studying the trades I will now allow Firebird make trades only between 8:00-12:00, 13:00-15:00, 16:00-18:00 and 19:00-22:00. Lets see how this will work out.

I have attached the tool I use to make these schedules (version 1.4 of EDEA).
Attached File(s)
File Type: zip EDEAv1_4.zip   533 KB | 453 downloads
  • #230
  • Jun 21, 2006 9:17am Jun 21, 2006 9:17am
Hendrick,

I checked out your PDF and converted your timing to EST. It seems that the best time overall for the Firebird is the US session (roughly between 7 AM and 4 PM EST). EST time is -4 GMT at the moment.

I will allow it to trade only during this time frame and post my findings here. Maybe the Asian and Euro session is not that great for it.

Quoting Hendrick
It was a bad day for Firebird. But please be realistic about that. To learn more about the behaviour of Firebird these bad days are necessary. You can study the trades that were made today and learn more about the different sides of Firebird. Too many people turn their back to an EA after its loosing money. That’s not the way it will work. Most EA's will work in the end if you are willing to study the results and take money management, settings and times in consideration.



We know more now about the settings (see previous posts). Another important issue is when to allow Firebird to place trades. I'm at GMT+2 and after studying the trades I will now allow Firebird make trades only between 8:00-12:00, 13:00-15:00, 16:00-18:00 and 19:00-22:00. Lets see how this will work out.

I have attached the tool I use to make these schedules (version 1.4 of EDEA).
  • #231
  • Jun 21, 2006 9:21am Jun 21, 2006 9:21am
Quoting Yardie
Hendrick,

I checked out your PDF and converted your timing to EST. It seems that the best time overall for the Firebird is the US session (roughly between 7 AM and 4 PM EST). EST time is -4 GMT at the moment.

I will allow it to trade only during this time frame and post my findings here. Maybe the Asian and Euro session is not that great for it.
Please keep me informed about your progress Yardie.
  • #232
  • Jun 21, 2006 9:36am Jun 21, 2006 9:36am
Quoting Hendrick
It was a bad day for Firebird. But please be realistic about that. To learn more about the behaviour of Firebird these bad days are necessary. You can study the trades that were made today and learn more about the different sides of Firebird. Too many people turn their back to an EA after its loosing money. That’s not the way it will work. Most EA's will work in the end if you are willing to study the results and take money management, settings and times in consideration.



We know more now about the settings (see previous posts). Another important issue is when to allow Firebird to place trades. I'm at GMT+2 and after studying the trades I will now allow Firebird make trades only between 8:00-12:00, 13:00-15:00, 16:00-18:00 and 19:00-22:00. Lets see how this will work out.

I have attached the tool I use to make these schedules (version 1.4 of EDEA).
I agree with you. I understand that no system is perfect. Over time, the wins will far outweigh the losses. It's just a matter of being disciplined and keeping your greed in check. I plan to continue to trade with this EA. I haven't tried your EDEA yet, but today might be a good time to start...
  • #233
  • Edited 9:54am Jun 21, 2006 9:46am | Edited 9:54am
Quoting The Wizard of Oz
Doh!!! Four losses so far today. Those losses add up fast. Ie. 42pips. I may be better off with a larger SL.

Wiz.
Wiz,

I agree with your logic to raise the s/l. The price swing can frequently move in wrong direction 50 to 100 pips, before it reverses back and make profits. With tp-20 and sl-120, overnight all my trades have been winners. I was watching a few trades and the price got very cost to my sl of 120 on several original orders. I was beginning to think this was going to produce several losers. But they all reversed in time and picked up some PipStep orders for profits. I have one eur/used original order that is still opened from June 19, and I have had several PipStep orders that were winners off that original order.

In my opinion the last 2 days have been slow long trending periods as the $Dollar gradually got stronger. When the market does this, even the sl=120 can be in jeopardy ansd cause multiple losing orders. It is as Hendrick has said, you should look at this EA over the long haul. I believe we will have good and bad days. I just hope there will be a lot more good days than bad ones. So far, in the short term, this has been so.

Wackena
  • #234
  • Jun 21, 2006 2:20pm Jun 21, 2006 2:20pm
Quoting Yardie
Hendrick,

I checked out your PDF and converted your timing to EST. It seems that the best time overall for the Firebird is the US session (roughly between 7 AM and 4 PM EST). EST time is -4 GMT at the moment.

I will allow it to trade only during this time frame and post my findings here. Maybe the Asian and Euro session is not that great for it.
I'm having a difficult time understanding the time difference. I am also in the states, but in CST, which I believe is GMT-6, but with the Daylight Savings Time in effect, I'm guessing that changes it.
Hendrick - I've looked at your .ini file, and it appears that you are "off" during the US session open, at 8amEST. To help me understand, is that correct?
  • #235
  • Jun 22, 2006 12:30am Jun 22, 2006 12:30am
Quoting wackena
Wiz,

I agree with your logic to raise the s/l. The price swing can frequently move in wrong direction 50 to 100 pips, before it reverses back and make profits. With tp-20 and sl-120, overnight all my trades have been winners. I was watching a few trades and the price got very cost to my sl of 120 on several original orders. I was beginning to think this was going to produce several losers. But they all reversed in time and picked up some PipStep orders for profits. I have one eur/used original order that is still opened from June 19, and I have had several PipStep orders that were winners off that original order.

In my opinion the last 2 days have been slow long trending periods as the $Dollar gradually got stronger. When the market does this, even the sl=120 can be in jeopardy ansd cause multiple losing orders. It is as Hendrick has said, you should look at this EA over the long haul. I believe we will have good and bad days. I just hope there will be a lot more good days than bad ones. So far, in the short term, this has been so.

Wackena
I am using both settings on different accounts. The 120 SL has had no losses so far. But it needs 6 profits for every loss, which is fine if it does not get many losses. I realise that it is too early to abandon this EA and i don't intend to do that.

There are many EA's out there but unfortunately not many of them produce over the long term. This may be the main problem with mechanical trading.

Wiz.
  • #236
  • Edited 3:55am Jun 22, 2006 3:47am | Edited 3:55am
Quoting The Wizard of Oz
I am using both settings on different accounts. The 120 SL has had no losses so far. But it needs 6 profits for every loss, which is fine if it does not get many losses. I realise that it is too early to abandon this EA and i don't intend to do that.

There are many EA's out there but unfortunately not many of them produce over the long term. This may be the main problem with mechanical trading.

Wiz.
Again, I agreed with you. I believe backtesting an EA can not predict forward testing or live results. It does show us, however, that over time, this Forex market is always changing. Causing EAs to perform differently. The one thing we need to do is to try to alter Firebird to be as stable over time as possible. One way is Time Filter, as Hendrick has been working on. Another is a Trend Filter to assist Firebird in compensating for negative trends.

Two other ideas are:

1. Input variable to limit maximum numbers of PipStep orders on a currency pair at one time. Just in case of a negative severe spike and PipStep goes crazy placing orders.

2. Input variable to set a minimum account balance. If actual account balance falls below this point, trading stops.

The idea is to find a way to limit the loss during a negative market spike and protect the profits if the trading starts to go bad for the EA.

Just a few thoughts.

Wackena
  • #237
  • Jun 22, 2006 5:02am Jun 22, 2006 5:02am
Hey Alphapip CST is GMT -5 with the Daylight Savings Time factored in.

All of yesterday's trades that open in the US session were profitable 8/8 -- 7 already closed and one still open but in profit.

I have decided to run the EA 24 hours per day to see which sessions are the best to trade. I think knowing the best session would create a simplier solution than setting the EA to trade on and off with the EDEA.


Quoting AlphaPip
I'm having a difficult time understanding the time difference. I am also in the states, but in CST, which I believe is GMT-6, but with the Daylight Savings Time in effect, I'm guessing that changes it.
Hendrick - I've looked at your .ini file, and it appears that you are "off" during the US session open, at 8amEST. To help me understand, is that correct?
  • #238
  • Jun 22, 2006 5:36am Jun 22, 2006 5:36am
I just got hit with 4 losses in a row -- all were opened in the Asian / Euro sessions.
  • #239
  • Jun 22, 2006 6:46am Jun 22, 2006 6:46am
Quoting Yardie
I just got hit with 4 losses in a row -- all were opened in the Asian / Euro sessions.
I got 8 losses in the European/London session. There goes the weeks profit and more. Fast profits and even faster losses.

I am running one with Wackena's settings and it is still in profit. No losses yet.
  • #240
  • Jun 22, 2006 7:25am Jun 22, 2006 7:25am
Yep got hit with 8 losses from the European/Asian sessions as well. Looking to see how the US session trades perform today. If they have another good day then I will edit the EA to trade US session only.

I bet Wackena's settings is good for no losses. But isnt the floating loss very big?


Quoting The Wizard of Oz
I got 8 losses in the European/London session. There goes the weeks profit and more. Fast profits and even faster losses.

I am running one with Wackena's settings and it is still in profit. No losses yet.
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