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In order to potentially minimize losses you might consider a trading tactic for example 1. whenever I get 5 losers in a row I will switch to a demo account and watch the demo until the market shifts 2. or 5 out of 7 trades are losers then switch from live to demo until you get 5 winners in a row and reopen your live account. That way you MIGHT be able to minimize losses even if you are minimizing potential wins at the same time. This would simply be an alternative to sitting and idling watching loss after loss occur and hoping that the market will change, instead simply demo it until price action itself tells you that the marktet has shifted and your newly closed trades start to show the market adjustment. Just some thoughts.
Quote:
Originally Posted by Wackena
Hello Hendrick,
I started a Demo forward testing on a M15 Chart to compare with my Live acct where I have it on M1. Will advise results. I look forward to seeing your results.
This EA may prove in the future to be dangerous , but lately it is really working well. Since last loser, I now have 34 straight winners on Live acct. And since Sunday June 11 on Live acct, 54 closed trades-52 winners.
Wackena.
Last edited by goldensight; 06-14-2006 at 04:26 PM.
This is only a short term observation. Yesterday, I started another Demo to run side-by-side with may existing Live acct. Both have same settings on eur/usd, gbp/usd, usd/jpy & usd/chf charts. My Live account already had 5 open trades when i started the Demo. Overnight, the Live acct had 4 closed trades (all winners) and Demo had 9 closed trades (all winners). My Live acct was most of the time involved in averaging existing trades with more PipStep trades, while my Demo did not have any PipStep trades overnight.
lonespruce's comments on manually working trades, when needed, may allow EA to generate improved profits. Whether this is true, most likely would depend on current market activity level.
I still think Firebirdv63G is one of the greatest EA's ever made. We had some heavy spikes this week caused by the "The News" but it looks like this version of Firebird is not very vulnerable for these spikes. Still I think it will be better to close Firebird just before and after the Big News. I'm now working on a tool with wich you can specify stop and start times for Firebird for a whole week. You can use it to prevent Firebird to take trades at certain times or to prevent to take trades during The News. Very cool! If I have the time I will post it this weekend.
Until now I think TF=15 and Percent=0.05 is the best (Thanks Wackena!!). And for the settings: MAtype=0 is a must, don't use MAtype=1. And much better results with Use_V63D_Divergence=false. Hope all you guys will keep on testing this powerful EA!
Is Pipsloss within inputs self explanatory ie. does it mean that the maximum number of pip loss is limited to default 500 pips? I am going to change that to a much lower number if it is. Is the 500 per day or per session? Does anyone have any thoughts on this? Thanks for any help.
Last edited by goldensight; 06-15-2006 at 09:01 PM.
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