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Firebird EA, please test this one, it is one of the greats 1,228 replies

which version of firebird are you using on live account? 12 replies

Firebird V1.0 an amazing EA ! 33 replies

Going live with Firebird 38 replies

My firebird is a roast cornish game hen 3 replies

Attachments: Firebird EA - fixed version -
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Firebird EA - fixed version -

I think i fried my brain reading the 70 pages on the other thread.

question for ya:

If i wanted to try this on a micro account.. say 300 bucks total. How many pairs can i trade? And what broker should i use? FXDD? InterbankFX?

Would I need to adjust the lot size from 0.1 on a micro?

I got version 1 running on demo on 4 pairs 30-300-30 setup. lets see what happens this week.

Great thread!!!! VERY promising.

Thanks... keep up the good work!
Quoting holyguy7
Does anyone know how Mano got his information for "daily average range." I am interested in trying to get that for the GBPJPY currency pair.

Any help would be appreciated.
The way I did it is, got the daily high and low from july 04 til july 06, worked out the daily difference and then averaged it out.

AVG * 2 = SL
SL / 10 = TP & Pipstep

For the more adventurous

SL / 20 = pipstep
Mono
Quoting HAGeek
I think i fried my brain reading the 70 pages on the other thread.
question for ya:

If i wanted to try this on a micro account.. say 300 bucks total. How many pairs can i trade? And what broker should i use? FXDD? InterbankFX?

Would I need to adjust the lot size from 0.1 on a micro?

I got version 1 running on demo on 4 pairs 30-300-30 setup. lets see what happens this week.

Great thread!!!! VERY promising.
Thanks... keep up the good work!
We have come to the conclusion that in order to trade this EA safely you need $1000 per pair on a mini account. On a micro account I guess that would work out to $100 per pair. So if you have $300 then no more than 3 pairs. You might even want to start with 2 if you want to be really safe.
The broker is up to you. I use IBFX and so do many others. I have no experience with FXDD, but I've heard decent things about them.

If you open a mini account then leave the lot size as 0.1 (regular acct the lot should be 0.01 for a micro)
0.1 in a regular account is 1 mini lot, and in a mini account 0.1 is a micro lot.

Hope that helps.
Good luck with your test and live results if you go ahead with it.
so let me get this straight...

300 bucks in a micro account. 3 pairs max.. maybe 2. eur/usd usd/cad example.

set lot size in EA to 0.01 if in micro account.

If allready in a mini account just leave at 0.1 ?

So if i had 1000.00 in a mini account... i could trade with 10 pairs theoretically?

Mono, what broker do you use?

Thanks for quick response.
I'm not sure if you can trade micro lots with either fxdd or ibfx, i might be wrong tho.
i have read and/or skimmed through most of the postings concerning firebird and thought:

If a S/L is triggered then probably the currency pair is headed or in a major trend. correct?

So if that is so, is there a way to change the code that automatically increases the width of the channel? does this make sense?

After this if there is a profitable trade with the currency pair it slowly reduces the width of the channel back down to what it was before over a period of trades.
well on the original 70 page thread someone was trading with micro lots live.. dunno who it was.

i really don't want to skim 70 pages again to find who.

And i don't want to use a 1000 bucks live account to try it out either.

Thanks!
Wackena, Hope you could give a little feed back on this system.
Can you clearify how the system work when the trade goes against you.

Why not use a set stop loss?

Another idea I have considered is how about shifting the moving average forward so the price exceeds yesterdays value of the moving average not today mov value. todays moving average value is changing.


In the current system is v1.oc does the have the seting for several currency or does the systme need to be changed for each currency?

Thanks for you feedback
Doc
All so what needs to be changed in this system to work with either a min account or a micro account?

Thanks
Doc
Hello,

I just have 2 questions, I hope you will help me out.

1- What is "pipstep" mean?
2- I tried to open the attached new version of Firebird, but I cant open it, because there is no comparable programs to work with it, so I want to know what platform or what program do I need to get it read the codes of Firebird?

My appreciation for your help!

Nguyen
Quoting skyline
A1Cruiser welcome aboard Firebird followers
Thanks for you kindly words I really appreciate it
I will try to search for some good hedging procedure in thread that you wrote above

guys:

I just want to post that i am amazed with your capacity of thinking and programing. Is impressive what you have done, and i really aprecciate, you want to share it with us. tnx
Have a good day and a good trade!
Wow, I think this is a great improvement on Firebird again! I really appreciate the high level cooperation among you seniors on this topic.
I looked through the statements and the backtest results are very impressive.
I'm planning to run two forward tests paralell on v1.0b and v1.0c with the same broker on the four majors. After a week we could evaluate the results.


Quoting wackena
skyline,

attached is Firebird_v1.0c with a routine added to auto-calculate variable settings. I followed Mono's calculation as you posted above. Backtest results comparing v.10a & v1.0c is attached. v1.0c did much better with almost 4 times more orders, but had several loses. Even with the loses, the overall profit was up.

This EA has 3 other routines added: UseMM which is a Money Management routine. If you want to manually set lot size, set UseMM=0(false). Another is a MaxOpenOrders routine to add control as to max number of open orders at one time per pair. If not wanted, set MaxOpenOrders=10. And the 3rd is a Trailing Stop routine. If not wanted, set TrailingStop=0.

Maybe a few members can forward test to see if results are better.

Also, I have posted Firebird_v1.0b on mr.trader's new thread at http://www.forexfactory.com/forexfor...33&postcount=8

This EA has a hedging routine added to help control high float sizes.

Wackena
Hello all, I am new to FF and have been going through the massive amounts of posts regarding this system for the last couple of days. I was just wondering if anyone could tell me the current flaws with this system, and why a lot of people here regard this early version of Firebird as the most profitable?

I know there is a Phoenix 2.1 out there now as well. What is the main reason you have decided to stay with this version?

I would love to help out with the development of this and am just trying to get to grips with the research that has already been done.. not an easy task.

Thanks in advance.
I just tried backtesting this on GBPUSD, I ended up 20% less money after 5 months of data.

I did not modify anything on the expert properties and used "every tick" data to backtest. Am I doing something wrong here???
Hi guys,

I am a little bit confused. This Firebird EA does exist for years. As far as I know, no major improvment has been made to it, and it has been tested by many people in the past (including me), and it has always ended up blowing accounts, sooner or longer, after some wild ride.
Can somebody please clarify if there is some major improvment in the current version that makes it reliable now ? I remember the 63G version, but I am not sure if it's the same...Are there just a new set of parameters that would make it successful now ?
Thanks for any clarification and keep up the good work
I think 1.0b is going to beat 1.0c hands down. Should be interesting. I cannot wait for the market to open.



Quoting A1Cruiser
Wow, I think this is a great improvement on Firebird again! I really appreciate the high level cooperation among you seniors on this topic.
I looked through the statements and the backtest results are very impressive.
I'm planning to run two forward tests paralell on v1.0b and v1.0c with the same broker on the four majors. After a week we could evaluate the results.
You know, i do not mean to be mean -- but you guys asking the same questions that have already been asked and answered several times before really need to do some reading. It makes me a bit upset when people want to be spoonfed everything instead of just investing some time to read. If one cannot spend some time learning then they shouldn't be trading Forex --with or without an EA.



Quoting trituetrade
Hello,

I just have 2 questions, I hope you will help me out.

1- What is "pipstep" mean?
2- I tried to open the attached new version of Firebird, but I cant open it, because there is no comparable programs to work with it, so I want to know what platform or what program do I need to get it read the codes of Firebird?

My appreciation for your help!

Nguyen
GBPUSD is the achilles heel of this EA. Try doing the backtest on EURUSD or USDCAD instead.



Quoting BurgerKing
I just tried backtesting this on GBPUSD, I ended up 20% less money after 5 months of data.

I did not modify anything on the expert properties and used "every tick" data to backtest. Am I doing something wrong here???
A few of us as been working on refining Firebird for a few months now -- Hendrick, Wackena and Skyline have done a great job with programming improvements and MOno is our master tester... So far so good.



Quoting kingforex
Hi guys,

I am a little bit confused. This Firebird EA does exist for years. As far as I know, no major improvment has been made to it, and it has been tested by many people in the past (including me), and it has always ended up blowing accounts, sooner or longer, after some wild ride.
Can somebody please clarify if there is some major improvment in the current version that makes it reliable now ? I remember the 63G version, but I am not sure if it's the same...Are there just a new set of parameters that would make it successful now ?
Thanks for any clarification and keep up the good work
Quoting AutoDoc
Wackena, Hope you could give a little feed back on this system.
Can you clearify how the system work when the trade goes against you.

Why not use a set stop loss?

Another idea I have considered is how about shifting the moving average forward so the price exceeds yesterdays value of the moving average not today mov value. todays moving average value is changing.


In the current system is v1.oc does the have the seting for several currency or does the systme need to be changed for each currency?

Thanks for you feedback
Doc
Doc,
Firebird was designed for slight trending, sine wave cyclic market. It is not that critical where order entry is made. It depends on the cyclic market going up & down. It makes most profits when it enter orders to go in the wrong direction. It uses the pipstep function to enter multiple orders with the assumption that market will retrace. The problem that has always existed with Firebird, is the big Stoploss needed to allow cyclic movement and the negative effect of news events. If several orders are open when news comes out, it's really a coin toss if the effect will be good or back. It is the concept from this forum that hedge orders (Firebird_v1.0b) and variable pair settings (Firebird_v1.0c) could help minimize news event effect. Time will tell with forward testing if these concepts are valid. What I can say for certain is, that you can't out think the market all of the time. If you are looking for the get rich quick scheme, in my opinion, this is not the way. If you looking to make a living or some extra money over the long haul, then doing your own Due Diligence is the way to go. Other people will not make money for you, only you will make money for you.

StopLoss is most useful in short sine wave cyclic conditions such as with jpy pairs. With gbp/usd type pair and its wider cyclic waves, StopLoss can prematurely close orders and thus not achieve max potential gains. I personally, would reccommend to carefully use Firebird on gbp/usd. This pair seems to have the longest cyclic trends and this is where excessive pipstep orders occur. I'm trading Firebird with a mini Live account and with gbp/usd, lot size =0.01, remaining pairs, 0.1 and above. Over time and market conditions, gbp/usd has most of the loses. This is not to say the other pairs don't have loses. I've had ouch times with usd/jpy and usd/chf, just not as many times as with gbp/usd.

Firebird_v1.0c can run on all currencies. Settings can be the same for all or individually set as per personal preference. Over the next few weeks, i hope feedback from members, who are forward testing, will report results to this forum. From that data, we may be able to determine if perferred settings for a currency pair is needed.

I've been asked several times what pairs I trade. I trade 9 pairs. eur/usd, gbp/usd, usd/jpy. usd/chf, eur/jpy, eur/chf, usd/cad, aud/usd, gbp/jpy. No logic as to why these. I would recomment to demo as many as you feel comfortable with. This could 1 pair or all available.

Wackena
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