Phoenix - Development+Suggestions - MQ4 in Post#1 - page 6
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IBFX works great with Phoenix! I tried to kill my account using FireBird EA for 2 days but Phoenix made me gain again all FB losses and more.
Anyway I find that mode 3 is the best then mode 1 and mode 2 makes too many losses with my broker.
Tomorrow I will post statements after 3 weeks of trading. You will see the amazing performance of mode 3.
Thanks to all.
Raf
I am doing it and it makes a lot of sense. Increases the t/p by 30 and lowers the stop by.
Hi, I got hold of the indicator showing Phoenix triggers by putting up arrows on the chart. I put in the default settings, and also played around with other settings. What immediately stuck me was that I would throw this indicator away immediately if I was evaluating it for manual trading. It's a lot of trigger-arrows and they seem to point up or down almost randomly. Well there was some good indication, but a lot was bad. What am I missing? The pair I was looking at was USDJPY on 1h charts with default settings.
There are some new settings for USDJPY. Also, 15M only, not 1H. You would need different settings (and a different market type) for 1H to work. If you try again and you still have somewhat random up and down arrows, can you please tell me if they are consecutive signals or rapidly changing? This may be another clue to needing new settings. I haven't had much time to work on this lately, but I still intend to get a weekly release out.
Interesting!
One way to see if Nicole, or other forcasters, is consistent enough in her forecast strategy to be profitable, is to use the chart properties common variables to select "only longs" or "only shorts". Then if the EA initiated single or multiple orders and had inputs for each order to use support/resistance strategy data.
Is there a way to link an EA with some strategy forecast website? As I understand MT4, I don't think so. But I do believe a hybrid system to use automated entry/eixt features of an EA based on periodic manual input of a current trading strategy for an individual pair. Another option is your work on currency correlation to have orders placed on other pairs based correlated strategies.
New thinking for me, but it does have my attention.
WackenaI thought about "only long" and "only short" for operating in a trend as well. If we can recognize a long term trend and trade expecting fluctuations in that trend to end, it would probably work well in those markets. To test this we really need A) a trend indicator or B) a huge historical pile of these forecasts that we could backtest with, and then manually switch when the forecasts indicate strong trends.
Hi Darack
In an other thread
https://www.mql5.com/en/forum/175616
They use 2 indicators to "show" uptrend an downtrend : Turbo_jrsx and Turbo_jevl
Well if these indicators are ok as they say... you can turn button "Sell" or "Buy"..
But in another way if inside settings fo P5 are in contray of your choice = you will have no trade at all !
Stupid ?
But my 2c for to day
......So I suggest that we make another option for Phoenix to place only sells or buys according to what we expect a pair is going to do: ranging, upwards or downwards.......
I think that could be a very good way to improve Phoenix indeed! Have been trading in a similar way manually in the past (only buy in an uptrend, sell in a downtrend). Sure, it does leave pips on the table but I'm convinced it will reduce the number of losses.