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

  • #1,041
  • Aug 19, 2006 4:24pm Aug 19, 2006 4:24pm
Quoting mono
After 3 weeks of testing Firebird Ind win/loss is at 518/7

Pips booked = 9085

Floats = -$1736

Have a great weekend
I took a look at your statement, and I have a question. Why do you only lose $300 when you hit the S/L with cable? If you are averaging down shouldn't it be higher? I don't see where Firebird is purchasing additional lots to average into the losing position.

I've only been following the thread casually, so perhaps you have tweaked the EA to compensate for this achilles heel.

By the way, congratulations to you guys, I have to admit I'm just a bit jealous.
  • #1,042
  • Aug 19, 2006 4:34pm Aug 19, 2006 4:34pm
Sistercurare the stop loss was hit once. The pipstep positions are either floating or were closed as wins.



Quoting SisterCurare
I took a look at your statement, and I have a question. Why do you only lose $300 when you hit the S/L with cable? If you are averaging down shouldn't it be higher? I don't see where Firebird is purchasing additional lots to average into the losing position.

I've only been following the thread casually, so perhaps you have tweaked the EA to compensate for this achilles heel.

By the way, congratulations to you guys, I have to admit I'm just a bit jealous.
  • #1,043
  • Edited 5:25pm Aug 19, 2006 5:12pm | Edited 5:25pm
Gotcha.
  • #1,044
  • Aug 19, 2006 6:30pm Aug 19, 2006 6:30pm
Quoting 4x4tx
Mono, would that 1 loss have come back if the SL was 500 or higher? It seems like if it goes 450 pips, then it's going to be residing in a totally different range.
The high was at 1.9143 and was bought at 1.8650, so at 450 it would not have survived, but at 500 it would (just....by 7 pips). And would be down to about -150 pips.
Mono
  • #1,045
  • Aug 19, 2006 6:31pm Aug 19, 2006 6:31pm
Quoting Yardie
MOno what is the highest that you have seen the float with this setting?
not 100% but I think at -$3200
Mono
  • #1,046
  • Aug 19, 2006 6:34pm Aug 19, 2006 6:34pm
Quoting BenQ
Yes, probably. Mono breaks his down manually and uses a different timeframe. On that site you can get averages for recent periods. Mono has gone further back in time to do his averaging. In other words, rather than take a 2 week average daily range, Mono has done a year or more. He can correct me if I'm wrong, but I believe he' using a large look-back period.
Correct, I used 2 years from july 04 to july 06
Mono
  • #1,047
  • Aug 20, 2006 1:21pm Aug 20, 2006 1:21pm
Guys:

I am very new to FOREX........and I have been told to come over from the futures market to the FOREX because its a nice trending market that is so big that it cant be manipulated.

We all know that 90% of daytraders in futures lose money.....mainly because of lack of discipline and trying to find tops and bottoms and being stopped out.

I noticed the Firebird EA has a lot of $30 hits and just one $300 stop wipes out 10 good trades. It looks great as a countertrend EA...but since the FOREX is supposedly a trending market.....has anyone tried to focus on a trend following EA that does not limit wins and limits the losses?

In other words....I have learned that you have to let your winners run and cut your losers. This Firebird EA has the opposite theory of take your winners at 30 pips and let the losers stop at 300 pips.

Can you imagine how much more money can be made with a trending EA that lets your winners run with a BE+1 trailing stop once you are in the money?

Just wondering why with FOREX that this EA has a target and not trailing stop.....and why you dont cut the loses sooner if the trade is not going in your favor?

Please dont take this as a criticism...but as a learning experience.....

Thanks,
Joules360
  • #1,048
  • Aug 20, 2006 2:54pm Aug 20, 2006 2:54pm
The best way to learn about firebird it to read the thread. All your answers are there. I think only through reading the thead will you get a full understanding of what this EA has been through and its many iterations.

Quoting Joules360
Guys:

I am very new to FOREX........and I have been told to come over from the futures market to the FOREX because its a nice trending market that is so big that it cant be manipulated.

We all know that 90% of daytraders in futures lose money.....mainly because of lack of discipline and trying to find tops and bottoms and being stopped out.

I noticed the Firebird EA has a lot of $30 hits and just one $300 stop wipes out 10 good trades. It looks great as a countertrend EA...but since the FOREX is supposedly a trending market.....has anyone tried to focus on a trend following EA that does not limit wins and limits the losses?

In other words....I have learned that you have to let your winners run and cut your losers. This Firebird EA has the opposite theory of take your winners at 30 pips and let the losers stop at 300 pips.

Can you imagine how much more money can be made with a trending EA that lets your winners run with a BE+1 trailing stop once you are in the money?

Just wondering why with FOREX that this EA has a target and not trailing stop.....and why you dont cut the loses sooner if the trade is not going in your favor?

Please dont take this as a criticism...but as a learning experience.....

Thanks,
Joules360
  • #1,049
  • Aug 20, 2006 3:18pm Aug 20, 2006 3:18pm
Ben:

I did do some reading before I was approved to post here.....and firebired has definitely evolved as I read..... but....the common thread in the EA's profit and loss statement are the 30 pip wins.....I did see some talking about a trailing stop......has that panned out?

Are you using this on a 15 min or a 1 min chart now?

I am on a 5 min chart with the futures and seems to work well with my trend following setups.

I just downloaded a 90 day FDXX forex trial....and plan to start testing...unfortunately I am not a coder...but I am interested in auto trading....

Joules360
  • #1,050
  • Aug 20, 2006 3:25pm Aug 20, 2006 3:25pm
Quoting wackena
Firebird v63g demo results from Aug 1 to Aug 17. Started using Firebird v63g-TS on Aug 8. This is the EA with Trailing Stop.

At present, on 9 pairs, open orders = 12, with float of 1,424. Since Aug 1, float has ranged form 250 to 2,200. Most days float was 350 to 750.

On $5,000 deposit, present balance is 8,759 and equity is 7,335.

Have a great weekend.

Wackena
Hi Wackena,

Can you please post your settings specially percent = ?? I want to test this on Demo Account...

Thanks
Babar
  • #1,051
  • Aug 20, 2006 5:23pm Aug 20, 2006 5:23pm
Hello Joule360,

I suggest that you should read this whole 70 pages thread and think about the whole thing again. As you already identify: Firebird is a counter-trend EA, when you are playing counter-trend, you should think differently from "trend following" technique. Trend following: you take whatever you could from that trend. Counter trend: you take small stake at the "pull -back" and get out of market.

As far as I know, Forex is only "trending" 30% of the time. No matter how "optimised" you are, you can only get to 40% right the max. When you are right, you get much more than what you lose.

Firebird is doing differently. With Mono's setting, firebird can be right up to 95% or even hight rate. Why do you want to cut you loss when you know that it may turn into winner 95% of time?? Why do you want to "trail" when you only aim for 30PIPs?? By cutting the loss early, you may actually destroy your chance of success.

However there may be something that can be used for you to parallel your trend trading with counter trend technique - take your profit at the time firebird enter 2-3 orders. That may be a way to maximise your profit.

Hope that helps.

PS. I suggest people to read the whole thread - it may be tiring but you may actually get something that is very useful for you.
  • #1,052
  • Aug 20, 2006 8:11pm Aug 20, 2006 8:11pm
Thanks for the reply....I was told it was a good trending market...that is why I figured a trail would be better. In any case....a breakeven +3 pips to cover cost or so....would be better once you get in the money.....to alleviate a reversal and a loss of potential 300 pips. Just seems like a lot of breathing room for a stop....but hey....I am new to forex.

Thanks,
Joules360
  • #1,053
  • Aug 21, 2006 5:01am Aug 21, 2006 5:01am
Quoting babarmughal
Hi Wackena,

Can you please post your settings specially percent = ?? I want to test this on Demo Account...

Thanks
Babar
Following is set file for FBv63g-TS.

MA_length=10
MA_timeframe=15
MAtype=0
Percent=0.10000000
TradeOnFriday=1
slip=100
UseMM=1
Risk=5.00000000
Lots=0.10000000
TakeProfit=50
Stoploss=300
TrailingStop=30.00000000
Fast_Period=23
Fast_Price=1
Slow_Period=84
Slow_Price=1
DivergenceLimit=0.00200000
Use_V63D_Divergence=1
PipStep=40
IncreasementType=0.00000000
DVLimit=10
PipsGoal=500
PipsLoss=500
GMT=0
DST=0
OpeningHour=0
ClosingHour=24
writelog=0

Wackena
  • #1,054
  • Aug 21, 2006 6:50am Aug 21, 2006 6:50am
Quoting BenQ
That's right, Mono. The version I have running with a pipstep of 15 sometimes has a + $3,000 float. And then a news even comes along and cleans it right up and pips are booked. I'm at the point with it where I like to see a large float because I know pips are coming my way. I do worry sometimes that there are too many trades on and a margin call is coming, so defintiely want to see more of what you're doing and your thoughts on that.
Mono mentioned a while back that he is using max 0.1 positions per $1000 of account. Don't you think this should be an effective money management tool to prevent margin calls?
  • #1,055
  • Aug 21, 2006 7:32am Aug 21, 2006 7:32am
Yes, it's .1 per position, but you will have a lot of positions open. I currently have 62 open positions with this method and a float of -1822.

Quoting Benna
Mono mentioned a while back that he is using max 0.1 positions per $1000 of account. Don't you think this should be an effective money management tool to prevent margin calls?
  • #1,056
  • Aug 21, 2006 9:22am Aug 21, 2006 9:22am
Quoting mono
After 3 weeks of testing Firebird Ind win/loss is at 518/7

Pips booked = 9085

Floats = -$1736

Have a great weekend
Hi Mono

Can't find the answer in previous pages, so I have to ask...
Is "Firebird Ind" a version on it's own, or the same one you used with the changed take profit and pipstep etc. for each pair?

Thanks
  • #1,057
  • Aug 21, 2006 9:23am Aug 21, 2006 9:23am
Its the same G version with custom TP PIPSTER and SL settings for each pair.



Quoting Benna
Hi Mono

Can't find the answer in previous pages, so I have to ask...
Is "Firebird Ind" a version on it's own, or the same one you used with the changed take profit and pipstep etc. for each pair?

Thanks
  • #1,058
  • Aug 21, 2006 9:35am Aug 21, 2006 9:35am
Hey Yardie
Is the GBP/USA beating u up today also. I guess I Need to just delete it on all my platforms...


Quoting Yardie
Its the same G version with custom TP PIPSTER and SL settings for each pair.
  • #1,059
  • Aug 21, 2006 11:30am Aug 21, 2006 11:30am
Well I am testing the hedging EA at the moment so I am getting wins on both side of the equation (and no losses as yet). My float wen to a high of about -2K but but down to about -1.5K. My pippage is negative overall so far though.



Quoting alsup1955
Hey Yardie
Is the GBP/USA beating u up today also. I guess I Need to just delete it on all my platforms...
  • #1,060
  • Aug 21, 2006 11:46am Aug 21, 2006 11:46am
So, whats your overall opinion of that version compared to the standard g.
Or is their not enough time yet from the testing to make that determination??



Quoting Yardie
Well I am testing the hedging EA at the moment so I am getting wins on both side of the equation (and no losses as yet). My float wen to a high of about -2K but but down to about -1.5K. My pippage is negative overall so far though.
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