Hi Ronika and All
Have you tried using Firebird V 3.2 ? I know from earlier posts you set adv maestro MM = 0 and Max open orders = 2, I have mine set to the same and yet I have 11 open orders currently, but when I use V3.2 it does exactly what it is set too, unlike this baby AM, I have been using the average daily range for each pair on V3.2 and then divide by 2 to allow for the market to range 50% up and 50% down, for instance the daily range curently on the EUR/USD is 170 approx /2 = 85 so my SL = 85 pips and not the 300 SL default, Currently this has been working well and has only taken 1 order out and has made my loss a lot smaller.
I look at the daily range daily and set each day as orders already placed will have the current SL already placed, I just feel that since the market changes daily then so should the Stop loss.
Regards
Iceman1
Have you tried using Firebird V 3.2 ? I know from earlier posts you set adv maestro MM = 0 and Max open orders = 2, I have mine set to the same and yet I have 11 open orders currently, but when I use V3.2 it does exactly what it is set too, unlike this baby AM, I have been using the average daily range for each pair on V3.2 and then divide by 2 to allow for the market to range 50% up and 50% down, for instance the daily range curently on the EUR/USD is 170 approx /2 = 85 so my SL = 85 pips and not the 300 SL default, Currently this has been working well and has only taken 1 order out and has made my loss a lot smaller.
I look at the daily range daily and set each day as orders already placed will have the current SL already placed, I just feel that since the market changes daily then so should the Stop loss.
Regards
Iceman1
I really wish that someone could deduce which one of the ten (it seems like ) different firebird versions are most like or actually are AM because I really need the TS feature and perhaps the other features Ronika is playing with on demo. If I must, I guess I could purchase AM. I believe Ronika's idea of limiting sl is excellent although I never trusted Mr. fibonnaci. I am also convinced that ATR over a period (3 weeks) If considered would affect all variables per pair and might solve draw down scares (or disasters). Thoughts anybody?
Hi fxj
If you look back at earlier post you will see that I posted a link to Firebird V3.2 this seems to work well with Alpari and am sure this is more advanced than AM, you can even set the trading times of each day if you wish. The TS does not work with Alpari, you have to set manually which is a pain, as for the ATR I would suggest this is a good idea, not a very good today for the AM on my live account, 2 trades taken out on a (SL) and 1 on (SL/Gap), well thats what it said, this was on the EUR/USD 5 min time frame, no Gap on chart see for yourself. This robot has a mind of its own, will be going live on 3.2 next week.
Also it does not obey the max open orders, but 3.2 does.
Iceman1
If you look back at earlier post you will see that I posted a link to Firebird V3.2 this seems to work well with Alpari and am sure this is more advanced than AM, you can even set the trading times of each day if you wish. The TS does not work with Alpari, you have to set manually which is a pain, as for the ATR I would suggest this is a good idea, not a very good today for the AM on my live account, 2 trades taken out on a (SL) and 1 on (SL/Gap), well thats what it said, this was on the EUR/USD 5 min time frame, no Gap on chart see for yourself. This robot has a mind of its own, will be going live on 3.2 next week.
Also it does not obey the max open orders, but 3.2 does.
Iceman1
I haven't tried FB v3.2. I did get FB v1.0b3, which has a Hedging feature - not implemented the way I would like, but I'm testing it nonetheless and will report back after I have sufficient data.
I only changed the TP/SL/TS - 55/144/45 on AM a couple of days ago, so I'll have to wait on that data as well.
I like the idea of limiting the SL to the previous daily range - makes sense.
One of the keys with this EA is to keep it trading, because when it does, it wins a lot (no pun intended), so hopefully a smaller SL will accomplish that and the losses will not be excessive. I've got several trades that have been hanging for almost a week - wasted time/money.
Here's a guy who's 'driving' the EA by determining the overall larger trend - Daily/Weekly - and then limiting the EA to just buys or sells accordingly. Makes good sense too and gives you some measure of control. He's got a lot of good stuff here...
Semi automatic EA (Driven Version)
I only changed the TP/SL/TS - 55/144/45 on AM a couple of days ago, so I'll have to wait on that data as well.
I like the idea of limiting the SL to the previous daily range - makes sense.
One of the keys with this EA is to keep it trading, because when it does, it wins a lot (no pun intended), so hopefully a smaller SL will accomplish that and the losses will not be excessive. I've got several trades that have been hanging for almost a week - wasted time/money.
Here's a guy who's 'driving' the EA by determining the overall larger trend - Daily/Weekly - and then limiting the EA to just buys or sells accordingly. Makes good sense too and gives you some measure of control. He's got a lot of good stuff here...
Semi automatic EA (Driven Version)
I just found these Firebird Docs online on another forum, and apparently MA_Timeframe is the time frame of the chart you are using, so the AM manual's setting for 5 min charts appears to be incorrect at 15, and should be 5 instead. It's hard to believe the Maestro people actually tested this to confirm the settings being optimized.
-MA_timeframe
Put the number of minutes here of the chart you are using.
10 for M10 charts. 1440 for D1 charts. etc
Just use the number that matches your chart unless you want to do some testing.
Hi Ronika,
Using a 40TS worked on the 2 trades available. Thank you. Unfortunately did very badly out of the big movement earlier today. There were about 6 trades open valiantly trying to go the other way.
I have read all re the semi automatic EA driven. I would like to test it but I can't put any of the files onto a platform. Can anybody help with that please. They go into the experts but then they do not arrive in the platform under EA's . They must need to be changed somehow.
Thanks
Using a 40TS worked on the 2 trades available. Thank you. Unfortunately did very badly out of the big movement earlier today. There were about 6 trades open valiantly trying to go the other way.
I have read all re the semi automatic EA driven. I would like to test it but I can't put any of the files onto a platform. Can anybody help with that please. They go into the experts but then they do not arrive in the platform under EA's . They must need to be changed somehow.
Thanks
Glad the TS worked for you.
I too got slaughtered by that unexpected big move today - just brutal.
I haven't tried installing those files yet so I can't help with that. I think one of the files is an trend 'Indicator' and not an EA, so it probably goes in a different folder. Not sure about the rest.
Hi Ronika
Just lambs to the slaughter, it got me as well I'm glad I reduced my SL limits and trade size, I have taken AM off my live account for now and am trying v3.2.
Hi 1982 I have looked at that post and will be trying as well, seems quite a good idea but still has this 300 SL, there is another way to trade that has a 50 SL which you use on an inside bar, but must be traded in the direction of the trend.
Ronika did your live account suffer like mine or was yours just demo ? thanks for your post yesterday they were very interesting and explained why the AM was opening up more orders than was set !
Regards
Iceman1
Just lambs to the slaughter, it got me as well I'm glad I reduced my SL limits and trade size, I have taken AM off my live account for now and am trying v3.2.
Hi 1982 I have looked at that post and will be trying as well, seems quite a good idea but still has this 300 SL, there is another way to trade that has a 50 SL which you use on an inside bar, but must be traded in the direction of the trend.
Ronika did your live account suffer like mine or was yours just demo ? thanks for your post yesterday they were very interesting and explained why the AM was opening up more orders than was set !
Regards
Iceman1
It was my live account - I had 8 open trades, several close to the limits of their SL, that had been hanging for days - then, sudden death. It happened so fast, I didn't have a chance to close any orders earlier and I got margined out.
I'm just waiting to see if these pairs are actually at their peaks now, or have more to go. If they turn around, we can ride them with the short only settings and start to recoup and rebuild.
I'm just waiting to see if these pairs are actually at their peaks now, or have more to go. If they turn around, we can ride them with the short only settings and start to recoup and rebuild.
Ronika
I have just started using v3.2 as stated earlier on a demo account it only trades max 5 orders as is set and the TS works has just seen it kick in, so far this morning has won 3 trades @ 50 pips and AUD/USD is about to close for the 4th win of the day, so quite happy with this EA, have been trading this EA on another computer and has gone from $10,000 to $27,000 in 2 weeks not bad !
Cheers
Iceman1
I have just started using v3.2 as stated earlier on a demo account it only trades max 5 orders as is set and the TS works has just seen it kick in, so far this morning has won 3 trades @ 50 pips and AUD/USD is about to close for the 4th win of the day, so quite happy with this EA, have been trading this EA on another computer and has gone from $10,000 to $27,000 in 2 weeks not bad !
Cheers
Iceman1
Ronika, I'mso sorry about the margin call. My live account was decimated but not margined out. I feel very flat today. I have been scouring forums and I see where somebody advised not to trade on the 18th March and close all EA's. !!! I realise now that there were some signs but........
I am trying version v1.2fixed but I am not impressed so far.
Iceman could you pass me the EXE file for the v3.2 so I could demo it. A SL of 50 pips would be great if it could average out, especially after today. I notice with this new link that he only trades one pair and it occurs to me that the loss factor would be more reasonable with one pair, slower gains but....
Thanks.
I am trying version v1.2fixed but I am not impressed so far.
Iceman could you pass me the EXE file for the v3.2 so I could demo it. A SL of 50 pips would be great if it could average out, especially after today. I notice with this new link that he only trades one pair and it occurs to me that the loss factor would be more reasonable with one pair, slower gains but....
Thanks.
Trader333
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How will you respond if these are no longer trending and start whipsawing giving you loss after loss ?
This is an issue with system trading in that if they are geared to profit when trending they lose heavily when markets are either range bound or in whipsaw.
Paul
Hi Paul (trader333)
Perhaps you can tell us how you trade these markets, you said on an earlier post post that your SL would be 5-6 pips or less, when whipsaws happen as they do how do you trade, please explain how you trade with a 5-6 pip SL and what your profit target is, or are you a Scalper and if you are, you will not make that many pips in a day, by the way no one knows when the market is going to whipsaw, hindsight is a wonderful thing just wish I had it !
Please enlighten us to your trading method and how successful are you. Are you one of those people that talk the talk but cannot walk the walk, you are a lengendary member but is that because you talk or walk, please prove me wrong. Tell us your trading technique with this 5-6 pip SL.
I may be Junior member but can tell you that I have traded for many years and making 4 figures in a day is common place and that is before the decimal place.
No one can beat the markets all of the time !
Look forward to your comments.
Regards
Iceman1
Perhaps you can tell us how you trade these markets, you said on an earlier post post that your SL would be 5-6 pips or less, when whipsaws happen as they do how do you trade, please explain how you trade with a 5-6 pip SL and what your profit target is, or are you a Scalper and if you are, you will not make that many pips in a day, by the way no one knows when the market is going to whipsaw, hindsight is a wonderful thing just wish I had it !
Please enlighten us to your trading method and how successful are you. Are you one of those people that talk the talk but cannot walk the walk, you are a lengendary member but is that because you talk or walk, please prove me wrong. Tell us your trading technique with this 5-6 pip SL.
I may be Junior member but can tell you that I have traded for many years and making 4 figures in a day is common place and that is before the decimal place.
No one can beat the markets all of the time !
Look forward to your comments.
Regards
Iceman1
Stu0898
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Many thanks for the tip.
Stu0898
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Interesting... I have accounts with FXPro and Orion, both are on MT4 and both have issues with TS not working. Every now and again they work but it doesn't happen often.
Does anyone out there have the built in TS on MT4 working every time?
Stu0898
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Thanks for the reply Ronika, yep I know that. I'm currently developing my own EA that uses it's own TS which works very nicely.
Incidentally, I started using Maestro.ex4 last night with the following pairs and settings (found by reading this thread and mostly thanks to Ronika and iceman1):-
EUR/USD 5M
EUR/JPY 5M
USD/CHF 5M
USD/CAD 5M
AUD/USD 5M
USD/JPY 5M
GBP/USD 5M
MA_length 10
MA_timeframe 5
MAtype 0
Percent 0.1
TradeOnFriday 0
slip 150 (acually 1500 as I'm on Alpari)
Lots 0.1
Take Profit 50 (500)
Stoploss 300 (3000)
PipStep 54 (540)
Increasement 0.0
In just five hours it has created six trades with two still open and four closing profit of $165.62 on a $5K demo account at Alpari.
Perhaps there is something in this... I will, however keep an I on any news or speeches effecting these pairs and try and close out any open positions before the event and switch of maestro.ex4 and switch back on after the 'dust has settled'. I hope that this method will avoid any of the big whipsaws like you experienced yesterday.
Thanks for all the info that everyone on this thread has provided, it has been very useful.
Trader333
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I use MTF analysis and look for longer term positions where my entry is around a key pivot point. If the weekly and daily line up then I will wait for the correct entry based on a 60m then 5 min then 10 tick chart. I may only get 2 signals a week and once the trade is in profit I will move my stop to BE and close 3/4 of my position when only around 20 to 30 pips are in profit. I will let the rest run to another key pivot level unless it goes back to BE which does not normally happen.
Yes I must be, although my live posted trades on these boards from years back may not align with this as they were almost all profitable
The risk is based on the 10 tick entry which is rarely more than 6 pips.
So why are you wasting so much time on a purely mechanical system with such a low R:R as you know that it will cause huge losses when the markets change.
Well it is true that I don't but I and others on here have witnessed live someone who does day in and day out with almost unbelievable success so it is possible.
Paul
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