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Firebird EA - fixed version -

  • #681
  • Edited Sep 5, 2006 12:21am Sep 4, 2006 11:52pm | Edited Sep 5, 2006 12:21am
Hi all. I don't know how any of your testing went today, but wow, what an eye opener for me. EURJPY really nailed the ol'demo test today. Several trades were stopped out and closed for -150 pips each. I am wondering if there might be a way to let the hedges run the distance? Or maybe i mised this thought/post and it's been discussed before?

What would happen if there were a trailing stop placed in the hedge version on both trades? I have no idea if i'm even thinking proper, but one might think that moving the hedge by XX pips each XX pip move against the original entry would help with some of the losses. . . then basicaly this system might include some sort of stop and reverse type intellegence. . . if all this is lame, just write it off as the rambles of a guy who spent the holiday looking at charts and currency books.

; ) Thom

a PS after reading the below post. my v1c (one of the many tests running) is at -740 with 26 open trades and closed 25 trades (2 of them the EURJPY at -240 pips) with at a whopping +14 pips up.
  • #682
  • Sep 5, 2006 12:08am Sep 5, 2006 12:08am
I've been running 1.0c1 and I currently have 18 open trades, 17 of which are USDJPY and EURJPY for a total floating of -1023.00. So yeah, it's taken a beating. We'll see if it recovers some
  • #683
  • Sep 5, 2006 12:31am Sep 5, 2006 12:31am
Quoting accrete
Hi all. I don't know how any of your testing went today, but wow, what an eye opener for me. EURJPY really nailed the ol'demo test today. Several trades were stopped out and closed for -150 pips each. I am wondering if there might be a way to let the hedges run the distance? Or maybe i mised this thought/post and it's been discussed before?

What would happen if there were a trailing stop placed in the hedge version on both trades? I have no idea if i'm even thinking proper, but one might think that moving the hedge by XX pips each XX pip move against the original entry would help with some of the losses. . . then basicaly this system might include some sort of stop and reverse type intellegence. . . if all this is lame, just write it off as the rambles of a guy who spent the holiday looking at charts and currency books.

; ) Thom

a PS after reading the below post. my v1c (one of the many tests running) is at -740 with 26 open trades and closed 25 trades (2 of them the EURJPY at -240 pips) with at a whopping +14 pips up.
Hi Accrete,

I still think the main issue concerning v1.0b2 version is that it places market orders so one half of the hedge always remains. Mainly in trending market the remaining half causes heavy float then losses in worse cases, I mean if the trend is strong.

My earlier posts regarding this issue where I detailed my idea:
http://www.forexfactory.com/forexfo...3&postcount=510
http://www.forexfactory.com/forexfo...5&postcount=522
http://www.forexfactory.com/forexfo...6&postcount=525
http://www.forexfactory.com/forexfo...1&postcount=535

My point is that pending orders would be more advantageous than market orders because this way the EA would put orders only to the trend direction.
  • #684
  • Sep 5, 2006 12:47am Sep 5, 2006 12:47am
Seeing that a lot of people are "interested" in firebird. I dont think that all you people in here are in to firebird for nothing, so I decided to jump in.

I dont know what firebird's logic is; I sure appreciate if there is a text describing what firebird's strategy is..


PS, Accrete, your site's firebird doc is broken..
  • #685
  • Sep 5, 2006 12:54am Sep 5, 2006 12:54am
Go to Accrete's resource page. There is a good document there.

It is good to know how the EA that you risk your hard earned money on actually works.
Don Life is expensive, but includes a free trip around the sun.
  • #686
  • Sep 5, 2006 1:12am Sep 5, 2006 1:12am
Quoting BurgerKing
PS, Accrete, your site's firebird doc is broken..
Only Firefox has trouble opening it use IE or go to post #344 and look at the PDF version.
  • #687
  • Sep 5, 2006 1:14am Sep 5, 2006 1:14am
this explains the logic of FB
Attached File(s)
File Type: zip Firebird document 0_27.zip   99 KB | 525 downloads
TRADE FOR SWAP
  • #688
  • Sep 5, 2006 3:31am Sep 5, 2006 3:31am
Quoting SoFlPippin
I've been running 1.0c1 and I currently have 18 open trades, 17 of which are USDJPY and EURJPY for a total floating of -1023.00. So yeah, it's taken a beating. We'll see if it recovers some
well,

i'm running 1.0c on live account, closed +80 pips, floating -340 pips, hmm...

i've currently 6 positions opened for USDCHF, 5 positions opened for GBPUSD
3 positions opened for EURUSD. 2 positions of USD/JPY is opened yesterday (-100pips) ..... USDJPY is not doing well.


also, running 1.0c on demo account. 4 positions of usdjpy hit SL, a big drawdown caused by usdjpy. i've kicked usdjpy out of the test.


Hope they all do well.

Chad.
  • #689
  • Sep 5, 2006 4:50am Sep 5, 2006 4:50am
Quoting chad
well,

i'm running 1.0c on live account, closed +80 pips, floating -340 pips, hmm...

i've currently 6 positions opened for USDCHF, 5 positions opened for GBPUSD
3 positions opened for EURUSD. 2 positions of USD/JPY is opened yesterday (-100pips) ..... USDJPY is not doing well.


also, running 1.0c on demo account. 4 positions of usdjpy hit SL, a big drawdown caused by usdjpy. i've kicked usdjpy out of the test.


Hope they all do well.

Chad.
for my 1.0c demo account it was the same with usd/jpy today and last week eur/jpy had a lot of losses. maybe the settings in 1.0c are not the best for JPY? on my live account 63G-TS i had today 2 usd/jpy trades and they were winners. however i dropped the JPY pairs from my live acc.
  • #690
  • Sep 5, 2006 6:00am Sep 5, 2006 6:00am
I been reading the posts about possible changes to the v1.0b (Hedge) EA.

Attached is v1.0b3 with following changes.

1. UseHedge- If=true, the hedge order is placed when pipstep step order is triggered. Separate inputs for HedgeTakeProfit & HedgeStoploss.
if=false, EA is v1.0a.

2.UseDayClose- If true, CloseLoosingTrades subroutine is activated to close loosing orders below input LossLevel on DayClose (0-sun, 1=mon, 2=tues, 3=wed, 4=thurs. 5=fri) and DayHour (LocalTime). For those that want to close loosing orders on Friday or before news events. To close all orders, LossLevel should be 5 pips above TakeProfit or HedgeTakeProfit setting (whichever is highest).

3. OpenOrders- Max open orders per currency pair. To trade as v1.0a, set this to 10.

Wackena
Attached File(s)
File Type: mq4 Firebird_v1.0b3.mq4   28 KB | 473 downloads
  • #691
  • Sep 5, 2006 6:08am Sep 5, 2006 6:08am
f*&^(in ell, another version!!!
  • #692
  • Sep 5, 2006 7:40am Sep 5, 2006 7:40am
Quoting cabletrader
f*&^(in ell, another version!!!
HAHAHAHA................

Pick one and stick with it, and try to find its ultimate settings.
Mono
  • #693
  • Sep 5, 2006 7:45am Sep 5, 2006 7:45am
Forgive me, my english is not so very good. I'm a newbie and admire this method very very much. I have tested FBv63G fixed and 1c.

My problem is that the TP is not the same even set at 30:

eg: AUD/USD take profit at 11 pips
EUR/JPY take profit at 17 pips
GBP/USD take profit at 23 pips.

I have been searching from prebious pages for the solution but just can not find one. Anybody recall the page, pls let me now.
Shah For every action there is an equal and opposite reaction.....
  • #694
  • Sep 5, 2006 8:24am Sep 5, 2006 8:24am
Quoting Panjan
Forgive me, my english is not so very good. I'm a newbie and admire this method very very much. I have tested FBv63G fixed and 1c.

My problem is that the TP is not the same even set at 30:

eg: AUD/USD take profit at 11 pips
EUR/JPY take profit at 17 pips
GBP/USD take profit at 23 pips.

I have been searching from prebious pages for the solution but just can not find one. Anybody recall the page, pls let me now.
If your talking about 1.0C it is made to set TP on its own. The first post of the thread gives a general idea.
  • #695
  • Sep 5, 2006 8:27am Sep 5, 2006 8:27am
Quoting Panjan
My problem is that the TP is not the same even set at 30:

eg: AUD/USD take profit at 11 pips
EUR/JPY take profit at 17 pips
GBP/USD take profit at 23 pips.
I had the exact same problem (actually it's not a problem) before.
With 1c versions, TP, SL and pipstep are overwritten by the EA. I think it obtains these settings from the daily average ranges of each currency pair.
Thus, it is totally expected and normal.
If you prefer different settings, you'd have to go with other version of firebird.
  • #696
  • Sep 5, 2006 8:34am Sep 5, 2006 8:34am
Quoting spartan
I had the exact same problem (actually it's not a problem) before.
With 1c versions, TP, SL and pipstep are overwritten by the EA. I think it obtains these settings from the daily average ranges of each currency pair.
Thus, it is totally expected and normal.
If you prefer different settings, you'd have to go with other version of firebird.
Thank you, spartan.
If I understand you correctly, the TP will be changing everyday according to daily average ranges, am i right?

If I want to be fixed, what shall i do?

Thanks again.
Shah For every action there is an equal and opposite reaction.....
  • #697
  • Sep 5, 2006 8:49am Sep 5, 2006 8:49am
i've been running 1.0c on my live account since sunday,


until now, it has -650 pips floating, and only +154pips closed,

alert message of 'excessive loss' keeps popping out.. what do i do now ?????
  • #698
  • Sep 5, 2006 8:50am Sep 5, 2006 8:50am
Wondering if we ought to start another thread related to this, or if perhaps it's too broad a subject to bother covering within the parameters of the Firebird EA...

But the question is, how are we going to spot the big nasty trend? We all know it's coming, and that it is going to do serious damage to our Firebird accounts. This situation reminds me of watching those shows about killer asteroids... ;-) Except in our case, I think we can expect this scenerio to occur once or more within the next several months.

With all that in mind, I am hoping to start a discussion specifically aimed at protecting our Firebird accounts from the "big nasty".

Here is what I've observed so far:
Through back testing, as well as a fundamental understanding of what it takes to "obey" a system, I do not condone closing trades early or arbitrarily closing everything on Friday. None of the testing I've done indicates this is a good procedure. I've tried closing everything weekly and monthly, but both yeild significantly less profit, and not much less in the way of loss. The manual intervention I've had the most success with consists of simply turning Firebird off occasionally and letting the floating trades play themselves out.

But all this is a bit "nebulous" for my taste. We have a concrete ruleset in place of executing trades (obviously), so it would be great to have set rules pertaining to the management of Firebird in general. Perhaps trading pairs should be individually shut down when a certain fib level is reached, or when a particular candlestick pattern is observed on the daily chart. Anyone else working on ideas in this direction?
  • #699
  • Sep 5, 2006 9:27am Sep 5, 2006 9:27am
Thanks Wackena, i have the v1b3 up at the site along with the text of your post 690 to help explain things. I think that i might try to compile some sort of similar info for each of the other versions and have a similar link. might help a bit. I'll have to dig into b3 and understand more of what it is doing. Thanks again : )

All links seem to be working. One thing on the manual, the original was in a word doc type format, but it will open fine in I.E. for me and others.

sim31; good thoughts/ideas. I was doodling w/BBands during todays session and doing some back studies to see a correlation if any. I've been into BBs for about 9months. . . as nice as they might be, they are still just an indicator. It would be nice to be able to trade this thing naked as far as TA goes or some sort of BWILC median. With the catastrophic 300 pip S/L FB reminds me of BWILC to some degree if one was using a non hedge version and trading only with the fundamental, or longer term trend of a pair. Just rambling. But then with a more flowing hedge possibility, why not try to lessen the blow of not getting the entry pip-on?

Cheers,
Thom

( FB Resource Page Link )
  • #700
  • Sep 5, 2006 9:35am Sep 5, 2006 9:35am
Quoting HAGeek
over on the other forum strategybuilderfx there is thread about a daily breakout system which probably work good when the firebird does not.

why can't you just run both systems at once?

when market is sideways firebird will do good and breakout not. when in a nice trend the breakout will work good and firebird not.

makes sense to me.

trying it on demo right now.
I think in "nasty trends" a useful combination would be placing two (one sell and one buy) pending orders when pipstep order is triggered. This would function as a breakout system utilizing one of the two pending orders (and liquidating the other at the same time) and leaving to run with the trend.
This system would be able to handle trend changes as well.
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