New Firebird EA - page 10
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what vergen of firebird?
that is results of Firebird v1.0c
whit setting from first or second site
SL 30 , TP 300 for gbp/usd
and SL 22 , TP 220 for eur/usd , usd/jpy , usd/chf
sorry , when i bad understand your ask
tommy,
on what timeframe?
I understanding that this program is partially working off of divergence from the high or low points.
Should a filter be incorporated to stop the trading if the market is trendingsince this seems to be the area where (example) it gets into a sell entry position off a high point (retracement), just to get destroyed when the currency turns right around and climbs again. Many positions have ended in the minus as a result of this happening today. I wonder what can be done to fix this problem??
Dave
<<<Last Question: What market condition(s) work best with this EA? Calm? Choppy? Ranging? Trend?
tommy, on what timeframe?
on 1M charts
Last 3 days testing...
Firebird 1.0c running on Interbank Demo. Last 2 days testing... default parameters (presets)-all currency pairs running that have presets. 7.2% in two days. (Started with ~$4792.08 - CyberiaTrader lost $210 in the first 3 days).
...
30 min timeframe. It traded the news well.
TraderSeven,
Thanks for your insight. BTW, I was looking through some of you old posts to find out what your thoughts were on why a demo account using the exact same script and settings would perform better than a real account version. Given all things being equal, I would have thought the performance pretty similar. I am aware of brokers taking positions against a trader but not all brokers do this. With exception to this and possible trader intervention on the position, I would think that performance would be nearly identical.
Perhaps I'm missing something!?
AlanIt's very hard to explain.
The backtests show 10% profit daily. Do some calculatings what the compunding effect (reinvesting all profits) would be in 1-2 year.
You would be richer than Bill Gates.
Just by running a EA with 150 lines of code.
Do you think it's realistic to expect that.......?
/edit
Just for fun a little table to show why such expetancy is unrealistic.
Start with $1000 and make 10% profit daily and reinvest all.
$6116 in one month
Your become a millionare at the 74th trade.
After 100 trades (5 months) you got 12.5 million.
You become a billionaire in 146 trades. Little above 7 months.
You pass Bill Gates at the 171th trade. 8 biljon in less than 9 months
Firebird 1.0c1 running on MIG Demo. Started 08.31.06. Default settings running on USDJPY, GBPUSD, USDCHF, EURUSD. M1. Started with $3,000 USD.
Edit: Forgot to add "Demo"
Last Question: What market condition(s) work best with this EA? Calm? Choppy? Ranging? Trend?
In all kind of markets but it hates strong trends that don't retrace very quickly. The most ideal market is when it moves in a tight horizontal channel with prices constantly zigzagging.
In all kind of markets but it hates strong trends that don't retrace very quickly. The most ideal market is when it moves in a tight horizontal channel with prices constantly zigzagging.
IS THERE ANY GREAT PARTICULAR INDICATOR THAT CAN BE USED TO TELL IF IT IS A RANGING HORIZONTAL CHANNEL?