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Firebird EA - fixed version -

  • #301
  • Aug 25, 2006 11:41am Aug 25, 2006 11:41am
Hmm thats a lot of floating. You are in a deficit at the moment. But too early to judge since you just started 4 days ago.



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!!
  • #302
  • Aug 25, 2006 11:44am Aug 25, 2006 11:44am
Kingforex. Euro would have to go up over 1.3000 to have any SL triggered. I think over time your net profit will increase and back into the positive. Sounds to me that the EA is working as it should.



Quoting kingforex
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...
  • #303
  • Aug 25, 2006 11:52am Aug 25, 2006 11:52am
We need to update the versions of Firebird now out there to get rid of this setting.



Quoting mono
Find below in the code

if ( !(IsTesting() || IsDemo()) ) { if (LossCheck()) { Alert("excessive loss!"); PlaySound("alert.wav"); return(0); }} // included by Renato

And comment it out with //.

After you compile all your settings will be reset, so you will need to re-apply them.
  • #304
  • Aug 25, 2006 12:03pm Aug 25, 2006 12:03pm
YeS Accrete you are asking for trouble!

Quoting forexpips
hi accrete,

i dont think you have to change the ma setting. it should be left at 30, even on the 1m chart.

anyone please correct me if i'm wrong.

regards,
forexpips
  • #305
  • Aug 25, 2006 12:14pm Aug 25, 2006 12:14pm
I've noticed that several people are getting similar yet different results from F.B. This difference at times may be attributed to the pipstep value. Can someone tell me what this pipstep value represents and what its function is with respect to Firebird?

Thanks,
Alan
  • #306
  • Aug 25, 2006 12:20pm Aug 25, 2006 12:20pm
Pipstep is the value where a new order is opened if the trade is going against you. So if you have a pipster of 20 and the trade goes in the negative by 20 pips a new trade is open in the same direction.



Quoting AlanD
I've noticed that several people are getting similar yet different results from F.B. This difference at times may be attributed to the pipstep value. Can someone tell me what this pipstep value represents and what its function is with respect to Firebird?

Thanks,
Alan
  • #307
  • Edited 12:37pm Aug 25, 2006 12:25pm | Edited 12:37pm
When Firebird takes a position it assumes that the 'trend' reverses very soon.
If it doesn't retrace with in PipStep pips then add another lot and average the position. When the position is averaged this way there is a higher probabilty that the ProfitTarget is met.

So PipStep controls how soon/often a position is averaged.
To small is your position grows very quickly.
To small it averages to slow and reduces your chances.
May the pips be with you.
  • #308
  • Aug 25, 2006 1:23pm Aug 25, 2006 1:23pm
My profit and my floating loss is the exact same number. The fact that it can open so many wrong positions at once is very upsetting.
  • #309
  • Aug 25, 2006 1:43pm Aug 25, 2006 1:43pm
Quoting Yardie
Kingforex. Euro would have to go up over 1.3000 to have any SL triggered. I think over time your net profit will increase and back into the positive. Sounds to me that the EA is working as it should.
Hope you are right my friend.

Here is my statement after one week of testing ($1000 net loss for now)
Attached File(s)
File Type: zip Detailed Statement 3.zip   12 KB | 454 downloads
  • #310
  • Aug 25, 2006 1:52pm Aug 25, 2006 1:52pm
Floatastic!
Attached File(s)
File Type: zip DetailedStatement.zip   15 KB | 479 downloads
TRADE FOR SWAP
  • #311
  • Aug 25, 2006 1:59pm Aug 25, 2006 1:59pm
Yardie/T7,

Thanks for clarifying Pipstep for me. So should I assume that the larger the pipstep value, the more likely it is to hit without taking too many trades?

I noticed one script taking a pipstep value equal to one half (1/2) of the T/P value. I've been running that value for the past week with good results but the number of open trades has been significant. Over 40.

Alan
  • #312
  • Aug 25, 2006 2:04pm Aug 25, 2006 2:04pm
After my 2<SUP>nd</SUP> week of live trading Firebird – here are some of my experiences and thoughts…. I hope they are helpful.

My Experience:
Last week – intervened in about ½ of the trades (closing early profit to keep my gearing light – I was too aggressive on the contract sizes). Generated approx. 250% return. However, after reviewing the charts last weekend and the USD retraction market open this week, I quickly realized that I could have cleared around 350% - if not higher.
This week – (started 2<SUP>nd</SUP> trading day… I was licking my wounds the first night after realizing I was too hasty the week before) Lowered my gearing by half of a lot size. I added 4 lower range pairs for a total of 10 – with specific inputs per each pair. Firebird was activated for 2<SUP>nd</SUP> session of <?xml:namespace prefix = st1 ns = "urn:schemas-microsoft-com:office:smarttags" /><st1:country-region w:st="on"><st1lace w:st="on">Japan</st1lace></st1:country-region> and left untouched (for the most part – I do generally shut down for news) till today NY close.

<?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" /><o></o>
My Thoughts:
The results for this week have been stagnant –apparently across the board. What I mean is, based on what I’m reading from everybody’s results, my foreword demo from last week and my live account – is that I find a consistency. Float loss and gain equilibrium.
I believe this week was not a good one for Firebird due to the smooth momentum of market action (no crazy retracting spikes to capitalize on). It also appears that regardless of the different settings everyone is using the results are the same. Float and booked profits are proportional.

If anyone here has experienced anything different this week, I encourage you to share. This way we can develop a better ideology towards Firebird.

<o></o>
  • #313
  • Aug 25, 2006 2:12pm Aug 25, 2006 2:12pm
Quoting AlanD
Yardie/T7,

Thanks for clarifying Pipstep for me. So should I assume that the larger the pipstep value, the more likely it is to hit without taking too many trades?
If it was that simple I would set it to 9999. And then remove it completly...

Example:
1] PipStep=30, ProfitTarget=30
2] Enter Short at 1.0000
3] Price moves up to 1.0030 -> add an extra lot
4] Average price is now 1.0015
5] Price goes to 0.9975 and then goes up to 1.2222
6] That price passes 0.9985 (1.0015-0.0030) so there we grab profits.


1] PipStep=50, ProfitTarget=30
2] Enter Short at 1.0000
3] Price moves up to 1.0030 -> no 50 pips so no averaging
5] Price goes to 0.9975 and then goes up to 1.2222
6] We need 1.0000-0.0030=0.9970
7] No we are in big trouble because the trend goes up to 1.2222. A heavy drawdown
May the pips be with you.
  • #314
  • Aug 25, 2006 2:31pm Aug 25, 2006 2:31pm
Hi all!

I would need your help please i am running firebird live now on my mini account on IBFX. Everything seems to work good but there are no pipsteppositions opened on Yenpairs. I use version 1.A but changed the settings to monos settings (TP and SL) but with an higher pipstep. Others pairs open the mainorder and pipsteporder, but unfortunately YEN pairs dont. ANY ideas???

Thanks for your help!!!!
  • #315
  • Aug 25, 2006 2:38pm Aug 25, 2006 2:38pm
TraderSeven,


I get your point in that one has to find an equilibrium as there may be no perfect setting given changing market conditions. Guess I'm just trying to figure out how to keep the number of open trades down yet keep enough trades coming through intraday to keep the pips flowing. I know I can set the max number of trades to less than 10 which is the default but then I risk being locked out from additional trades while waiting for the earlier trades to hit.

Alan
  • #316
  • Aug 25, 2006 2:39pm Aug 25, 2006 2:39pm
Think carefully before you make a wish

For a 5 digit yearly income you have to work hard, for a 6 digit income you simply need an idea...

The current EURUSD quote: 1.2754
That's also 5 digits. :


I use version 1.A but changed the settings to monos settings (TP and SL) but with an higher pipstep.

If you set PipStep to high the price never reaches it. So no averaging takes place.
May the pips be with you.
  • #317
  • Aug 25, 2006 3:09pm Aug 25, 2006 3:09pm

Alan,



What's best I can't tell you. But you understand you have to find an

equilibrium. So you know what to work toward.



Take a look at:

extern double IncreasementType =0;//0=just add every PipStep, >0 =OrdersToal()^x *Pipstep

You can use that input to create variable PipSteps.

Look in the Firebird document for more details but decreasing PipStep

may help your cause.



I don't have the same mind set as many here. I wouldn't even considered

M1. For me preserving capital is the #1 aim.

Some risk controlling things the coder may consider.


  1. Run Firebird on 10 pairs but allow only 2/3 pairs to be trading simultaneously.


  2. Use uncorrelated pairs.

  1. http://www.mataf.net/en/analysis-correlation.htm


  2. When a pair average for the 3rd time set max open pairs to 1 and TakeProfit to zero


  3. Waiting for a trade to go your way can cost money to. Say you earn $100/day. But you refuse to take $300 losing trade and wait 10 days to exit with a $100 profit. That trade earned you $100, but kept you out of 9 trades worth $900. So you 'lost' $900. My point is that admitting defeat might be better.



It's better to make 50% a month with little drawdown than 100% with more risk. Look at it with compounding.

If you make a nice percentage your account quickly doubles with means faster profits etc.

An added bonus you can sleep at night instead of worrying about DD.






May the pips be with you.
  • #318
  • Aug 25, 2006 3:11pm Aug 25, 2006 3:11pm
TraderSeven,

Was .27 the last version of the Firebird document you published? Have you seen a document anywhere on Firebird ver. 65?
  • #319
  • Aug 25, 2006 3:18pm Aug 25, 2006 3:18pm
Yes.

But v0.27 of the document is also for Firebird v0.65
The numbering of the document has nothing to do with the versions of the EA.

All Firebirds have been the same.
Most versions are just debugging, reming typing errors, cleaning code etc.
So the logic never changed so the document is still valid up to Firebird v0.65
But not for the versions >0.65 and all versions with a letter.
None of them are mine.
May the pips be with you.
  • #320
  • Aug 25, 2006 3:24pm Aug 25, 2006 3:24pm
Quoting TraderSeven
Yes.

But v0.27 of the document is also for Firebird v0.65
The numbering of the document has nothing to do with the versions of the EA.

All Firebirds have been the same.
Most versions are just debugging, reming typing errors, cleaning code etc.
So the logic never changed so the document is still valid up to Firebird v0.65
But not for the versions >0.65 and all versions with a letter.
None of them are mine.
Thanks, I am going to post a PDF of ver.27 in this thread. I think it would at least answer some of the questions about settings.
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