Firebird v63G - page 22
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Please help!!!!
Compiling 'Firebird v63G.mq4'...
Function "CloseTheseTrades" is not referenced and will be removed from exp-file
Function "CloseLoosingTrades" is not referenced and will be removed from exp-file
Function "iFXAnalyser" is not referenced and will be removed from exp-file
Function "GoalCheck" is not referenced and will be removed from exp-file
Function "GetSlippage" is not referenced and will be removed from exp-fileJust ignore this. This is normal. It is part of the code that is not used.
Wackena
hi hendrick/wackena :
What is ur thought in this condition :
For pair GbpUsd (Today at 10:54 )pos 1.8422
The firebird open pos BUY in the downtrend condition.And the result now its give me the negative pos.And hits stop loss of 52 pips.
What is in my mind is why this firebird not open SELL pos.From my indicator its show the downtrend.I am using aNina indicator.Is it some kind of msytery or what.Just to share to understand this firebird behaviour.Its a bad day for the firebird.
ThanksThat's the way firebird works. It buys/sells spikes. Today's big move meant big losses. It is impossible to predict what will happen in future. It's easy to say what would have worked now but on most days this week price has been ranging and firebird has performed very well. Wackena's settings are doing much better so far.
Wiz.
I need some input from you to make Firebird rise again from the ashes (yes, we will call it Phoenix)
My opinion so far:
1. First I don't like the Pipstep. I think it's much too risky if a trend sustained.
2. I've seen longs and shorts for the same pair at the same time. Not good! If the signal for a pair changes, first close the open opposite trades for this pair.
3. MAtype=1 is far too risky. We will remove it.
4. We need money management. Lots of examples in other EA's, so it will not be too hard to implement this.
5. Time to trade is VERY important. Until now I think my EDEA will do the job. Maybe we can incorporate the same solution in Firebird itself.
Please shoot and give your opinion.
(Don't expect the revival of Firebird will happen soon. I have a live next to Forex you know!)I don't know about the money management bit. When you are going against the short term trend you probably want to have a large stop loss and hope for some retracement.
The very idea of Firebird is for it to open multipile positions some pips apart. That way, if the price spike is not long lived, you increase your profit. If the spike is very large AND sustained, you are screwed, in the short run anyway...
Look at what happened today for example. With a 52 pip stop loss, I have 6 trades stopped out. With 120 pip stop loss, I have 1 trade stopped out so far. It is true that if USD keeps the momentum it has currently gained, we are screwed, but same thing goes for the 52 pip stop loss. So yeah, if you are trading with 120 pip stop loss you have to either trade less pairs or have a large account. We should keep in mind that every strong run such as what we saw with EUR/USD (going from around 1.21 to 1.29) and GBP/USD (going from 1.8 to 1.9) is followed by anywhere from 30% to 50% retracement, as what we are currently seeing (EUR/USD at 1.25 - GBP/USD at 1.83).
One reasonable modification that may increase profits a bit is instead of hitting a limit at 20 pips, we can move the stop loss to 20 pips and move the limit higher. That way if we are in the direction of a strong move, we have the potential of higher profits.
Another thing that has crossed my mind, but I have not thought about extensively is having firebird identify the larger trend better and have an option to calculate its target based on projection, rather than fixed. It is just a thought. I don't know if it will produce a better result or even if it is possible to do.
A bumpy day. On my live account on eur/usd, gbp/usd, usd/jpy & usd/chf.
I swtiched it to M5 on the charts midday (EST) yesterday June 21,
Trade closings dated June 22. 9 wins and 2 losers. Net Pip gain/loss = (-60)
eur/usd - 3 wins & no loss
gbp/usd - 2 wins & 1 loss
usd/jpy - 2 wins & 1 loss
usd/chf - 2 wins & no loss
As of 12:30 EST - 6 open trades
eur/usd - 1
gbp/usd - 2
usd/jpy - 2
usd/chf - 1
Wackena
I don't know about the money management bit. When you are going against the short term trend you probably want to have a large stop loss and hope for some retracement.
The very idea of Firebird is for it to open multipile positions some pips apart. That way, if the price spike is not long lived, you increase your profit. If the spike is very large AND sustained, you are screwed, in the short run anyway...
Look at what happened today for example. With a 52 pip stop loss, I have 6 trades stopped out. With 120 pip stop loss, I have 1 trade stopped out so far. It is true that if USD keeps the momentum it has currently gained, we are screwed, but same thing goes for the 52 pip stop loss. So yeah, if you are trading with 120 pip stop loss you have to either trade less pairs or have a large account. We should keep in mind that every strong run such as what we saw with EUR/USD (going from around 1.21 to 1.29) and GBP/USD (going from 1.8 to 1.9) is followed by anywhere from 30% to 50% retracement, as what we are currently seeing (EUR/USD at 1.25 - GBP/USD at 1.83).
One reasonable modification that may increase profits a bit is instead of hitting a limit at 20 pips, we can move the stop loss to 20 pips and move the limit higher. That way if we are in the direction of a strong move, we have the potential of higher profits.
Another thing that has crossed my mind, but I have not thought about extensively is having firebird identify the larger trend better and have an option to calculate its target based on projection, rather than fixed. It is just a thought. I don't know if it will produce a better result or even if it is possible to do.Hi Jet,
Thanks a lot for your contribution. I'm still not convinced that on the long run a SL of 120 will be better than a SL of 52. Although backtesting in MT4 is not one of my favourites, I think in this case we can use it to see the difference between the 2 stop losses for the past 2 years. I will look at it in the weekend.
What I don't like at Firebird is that it's still placing trades during a spike instead of waiting for a real retracement. I saw this today for the GBPUSD: three BUYS all stopped out while the trend downwards sustained (well, maybe a SL=120 could have prevented this, but on the other hand .....). It shouldn't be to hard to make clear to Firebird to wait placing trades until the spike has finished.
Once again, appreciate your suggestions. Regards.
Hendrick.
hi hendrick/wackena :
What is ur thought in this condition :
For pair GbpUsd (Today at 10:54 )pos 1.8422
The firebird open pos BUY in the downtrend condition.And the result now its give me the negative pos.And hits stop loss of 52 pips.
What is in my mind is why this firebird not open SELL pos.From my indicator its show the downtrend.I am using aNina indicator.Is it some kind of msytery or what.Just to share to understand this firebird behaviour.Its a bad day for the firebird.
ThanksHi Saat!,
That's the way FOREX works. It's not a "game" of winning OR loosing, but of winning AND loosing. But in the long run if there are more winners than loosers...bingo!
My last trading result : 20:00 22 June 2006
On M15 chart
All same with hendrick setting except for the pipstep.I set a pipstep to 40.
Still on forward test and like to see for the tommorow result.
Lets go on ....
Please help!
Firebird v63G EUR/USD 30M real account
Alert: excessive loss!
Why this alert show me.
What i do for disactivate this alert.
What i do wrong in this expert.
Pozdrawiam
Stabil
Please help!
Firebird v63G EUR/USD 30M real account
Alert: excessive loss!
Why this alert show me.
What i do for disactivate this alert.
What i do wrong in this expert.
Pozdrawiam
StabilHi Stabil,
IN REAL mode firebird checks your current equity vs last day equity and if the current equity is less than the previous it will display themsg...."excessive loss"...now you can change the amount of previous day equity by going into the Metatrader\expert\files. Not what you need to do is open the previous day file (check the name of the file it will be names as 20060622) and change the amount to something very low....save is and done....or if you like you can take this option out from the EA...
Hope this helps...
Thanks
Babar
Firebird and a volatile market
Another fine day for Firebird.. (joking). The results of last week gives a lot of stuff to think about. We will have to study the trades and try to discover the how and why of the behaviour of Firebird in a volatile market as we have seen in the last 2 days. In a stable market Firebird is doing its job: more winners than losers. But days like the last 2, gives us the opportunity to make some discoveries that can really improve Firebird.
First thing we really need is money management. I've asked Firedave if he is willing to adapt Firebird in such a way. Another thing is time. I believe that preventing Firebird to place trades during certain periods of the day will certainly help to improve its results. At last I have my own little tool EDEA working. Feel free to test it, and please let me know if it's any help to you.