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Firebird EA - fixed version -

  • #261
  • Aug 24, 2006 11:25pm Aug 24, 2006 11:25pm
Quoting forexpips
Mrs Firebird is still conceptual. Right now Mr Firebird remains a bachelor, but he's looking for his perfect match, yin to his yang. (And mono and others are thinking of coding her into existence for him).
Bachelors usually are rich.
So don't make a Mrs Firebird

Keep the good work going...
May the pips be with you.
  • #262
  • Aug 24, 2006 11:54pm Aug 24, 2006 11:54pm
Welcome TraderSeven! It is an honor to have Firebird's founder among us.
  • #263
  • Aug 25, 2006 12:05am Aug 25, 2006 12:05am
Quoting TraderSeven
Bachelors usually are rich.
So don't make a Mrs Firebird

Keep the good work going...
We can always make/have a playmate, as long as Mrs Firebird doesn't find out.
Mono
  • #264
  • Aug 25, 2006 1:21am Aug 25, 2006 1:21am
Mono - loving your work!
TRADE FOR SWAP
  • #265
  • Aug 25, 2006 1:31am Aug 25, 2006 1:31am
Quoting moneybags
We have come to the conclusion that in order to trade this EA safely you need $1000 per pair on a mini account. On a micro account I guess that would work out to $100 per pair. So if you have $300 then no more than 3 pairs. You might even want to start with 2 if you want to be really safe.
The broker is up to you. I use IBFX and so do many others. I have no experience with FXDD, but I've heard decent things about them.

If you open a mini account then leave the lot size as 0.1 (regular acct the lot should be 0.01 for a micro)
0.1 in a regular account is 1 mini lot, and in a mini account 0.1 is a micro lot.

Hope that helps.
Good luck with your test and live results if you go ahead with it.

Maybe you should write ".... x pairs simultaniously...."
You can monitor many pairs and only open trades in x pairs at the same time. That way you can trade with a small account but still get many signals.
May the pips be with you.
  • #266
  • Aug 25, 2006 1:33am Aug 25, 2006 1:33am
iīve been using in my live account the mono settings 300-30. itīs any better to use the specif ones or it makes no dif?
Have a good day and a good trade!
  • #267
  • Aug 25, 2006 2:54am Aug 25, 2006 2:54am
Quoting TraderSeven
Bachelors usually are rich.
So don't make a Mrs Firebird

Keep the good work going...
Standing Ovation guys !

It's a pleasure to have here Firebird's creator
Welcome back TraderSeven , hope that you will still stay here to help us for further improvement about your creature.
So are you already billionaire trading with Firebird EA ??
  • #268
  • Aug 25, 2006 2:58am Aug 25, 2006 2:58am
Quoting jtacher
iīve been using in my live account the mono settings 300-30. itīs any better to use the specif ones or it makes no dif?
i think the other settings which are used are this one of mono in the first post(which are different for every currency pair)

i have run both settings on demo and it seems that the settings of mono (which are different for every currency) are making faster pips but they have also alot of float more.
  • #269
  • Aug 25, 2006 4:16am Aug 25, 2006 4:16am
Quoting kingforex
I began testing beginning of this week FB version 1.0a with Mono settings as indicated in first post, and on 1 min chart.
So far 58 trades, all won, but equity is still in loss $4763 and I started with $5000.
Monday, I had more than $1000 loss in equity when I checked it i nthe morning.

Maybe, results are smoother with 30 min charts ?
Also, my FB is heavily short on dollar, but some people here, like Mono, noticed a good hedging between different pairs.
I wonder if there is a way to know at any moment the total exposure of the EA for each currency. If we can, we may be able perhaps to let the EA only open trades in order to reduce the exposure in the same currency.
My apologizes if this has already been discussed before.

PS: for some reason, it does not let me attach my result file
Before today's news and after almost one week testing, my equity is just $ 4200 ($800 loss) and I am trading 6 pairs. Balance is $6880. Am I the only one that has such losses this week for those who started testing these last days ?
  • #270
  • Aug 25, 2006 4:49am Aug 25, 2006 4:49am
Hi kingforex,

I have switched off my the E/A on my live account, but I thought I would run a demo thru' Fri/Saturday.

In 7 hours this has chalked up 1 win for $32 [GB/Yen] and the Float is a positive $490 [in credit]!!
  • #271
  • Aug 25, 2006 5:35am Aug 25, 2006 5:35am
Is it hard loss or flaoting loss? If its floating then its normal. You didnt say how much you started with. but I suspect you would still be ahead even with $800 floating since your balance has grown.



Quoting kingforex
Before today's news and after almost one week testing, my equity is just $ 4200 ($800 loss) and I am trading 6 pairs. Balance is $6880. Am I the only one that has such losses this week for those who started testing these last days ?
  • #272
  • Aug 25, 2006 5:39am Aug 25, 2006 5:39am
I second that sentiment .

Quoting nvwine
Welcome TraderSeven! It is an honor to have Firebird's founder among us.
  • #273
  • Aug 25, 2006 5:44am Aug 25, 2006 5:44am
This is up to you and your comfort level my friend.



Quoting forexpips
Thanks yardie

Anyone have any suggestion on how long firebird should be tested before going live with it?

forexpips
  • #274
  • Aug 25, 2006 6:52am Aug 25, 2006 6:52am
Good work Mono, Yardie and everbody else here.
Thanks TraderSeven for such an interresting EA.

I went live using mini this week using 30-300-25.
Using 5 pairs EURUSD, USDCHF, USDCAD, AUDUSD and USDJPY.
Added another pair GBPUSD yesterday.
Floating loss is hugh. Don't know if pipstep is the guilty one.
Can't think of something else because almost everybody here are doing just fine.
Can the pipsettings make such a big difference?
Or maybe I have chosen the wrong time to start......

I hope next week will turn this thing around.

Have a nice weekend everybody and don't forget to GET THOSE PIPS!!
Attached File(s)
File Type: zip statement.zip   9 KB | 572 downloads
  • #275
  • Aug 25, 2006 6:56am Aug 25, 2006 6:56am
Quoting forexpips
Thanks yardie

Anyone have any suggestion on how long firebird should be tested before going live with it?

forexpips
First of all as long as it takes to be sure it's bugfree.
Secondly until you have seen all market conditions.
Firebird loves sideways action. Success is almost guaranteed on such markets.
When I tested on D1 things worked fine for 6 months.
Then... one wrong trend....
Bye bye 6 months profits.

Shorter timeframes probably means shorter testing time; but the fact remains you have to withness all markets. With the same version.
Coders can make mistakes too. When the hedging should start Firebird doesn't hedge but buys 100 lots in the wrong direction.

If it looks like the Holy Grail it probebly isn't....
May the pips be with you.
  • #276
  • Edited 7:16am Aug 25, 2006 7:01am | Edited 7:16am
Quoting Yardie
Is it hard loss or flaoting loss? If its floating then its normal. You didnt say how much you started with. but I suspect you would still be ahead even with $800 floating since your balance has grown.
Hi Yardie,
My balance has grown from $5000 to $6882, but my floating loss is $2575. Therefore, my net loss (deposit minus equity) is $800.
And I am running FB 1.0a on 1 Min chart, with Mono's settings (as indicated in first post).
And if USD goes up later today, I guess I'd have many stop losses triggered...
Attached File(s)
File Type: zip detailed statement.zip   12 KB | 418 downloads
  • #277
  • Aug 25, 2006 7:08am Aug 25, 2006 7:08am
anyone else getting loaded down by USDCAD? My float is massive now and I've halted any more trades hoping to let it settle. This may be one of those times that trades should all be closed, but I'm reluctant to turn a 15k profit into a 5k one.
TRADE FOR SWAP
  • #278
  • Aug 25, 2006 7:12am Aug 25, 2006 7:12am
Quoting humax
Good work Mono, Yardie and everbody else here.
Thanks TraderSeven for such an interresting EA.

I went live using mini this week using 30-300-25.
Using 5 pairs EURUSD, USDCHF, USDCAD, AUDUSD and USDJPY.
Added another pair GBPUSD yesterday.
Floating loss is hugh. Don't know if pipstep is the guilty one.
Can't think of something else because almost everybody here are doing just fine.
Can the pipsettings make such a big difference?
Or maybe I have chosen the wrong time to start......

I hope next week will turn this thing around.

Have a nice weekend everybody and don't forget to GET THOSE PIPS!!
Hi Humax,
I also started this week (hopefully on demo...) and I have the same kind of results (please see my statement above). Thanks to report it, so people would be more careful if they want to go live.
  • #279
  • Aug 25, 2006 7:13am Aug 25, 2006 7:13am
Quoting cgldsmth
anyone else getting loaded down by USDCAD? My float is massive now and I've halted any more trades hoping to let it settle. This may be one of those times that trades should all be closed, but I'm reluctant to turn a 15k profit into a 5k one.
I am loaded down by every pair I trade. Floating loss just keeps building up.
Let us hope that next weeks newsrelease can turn the floating loss into winners.

Kingforex, lucky you using demo.
Bad week to start using firebird.
As you know, no pain no gain.
This is lots of pain, now I only have to wait for the gain.....
  • #280
  • Aug 25, 2006 7:20am Aug 25, 2006 7:20am
It's a matter of view if floating loss/profits are real losses/profits.
If things turn in your favor you will win big with so many lots.
Afterall your other trades turnmed out fine too. And they didn't start winning right away either.

Especially USDJPY looks bad.
A little wider envelopes gives a more stable portfolio. And less trades...
You could also lower ProfitTarget a bit. But settings ultimately depend on your own personality. Your money, your risk, your settings....

A simple riskcontrol that the coders could add is stop adding other pairs if for example there already 2 pairs trading.
Or if you already averaged 4 times over all positions.
May the pips be with you.
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