Phoenix 2007 (new thread) - page 32
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Go Phoenix!
Great Job on the research toward version 5.0. Here is a suggestion for a scaling strategy:
When a trade entry is called, divide your lot size by 3 and enter 3 trades,
1 trade will have target of .5 times profit target,
1 trade at 1.0 times profit target ,
1 trade at 1.5 times the profit target.
When Trade 1 closes with profit at .5X, Trade 2 and Trade 3 move stop loss to break even.
When Trade 2 closes with profit at 1.0X, Trade 3 moves stop loss to .5x level
Trade 3 closes at 1.5 x profit.
This gives you the same amount of profit while minimizing the downside risk and locking in profit along the way. This is just a straw man suggestion to think about how to scale your lot size and minimize risk.
Trades by Phoenix to date
Attached is snapshot of the trades since last Thursday.
Based on discussion thread, I closed one trade that was in excess of 48 hours with a little profit.
Phoenix settings
Just to make sure: I downloaded phoenix from page 1 and loaded the EA as is. I did not change anything. Is this correct?
Forward testing
detailed statement from 16th October is attached. Using default settings.
TF M30 on USDJPY USDCHF EURJPY GBPJPY CHFJPY EURUSD USDCAD
John
detailed statement from 16th October is attached. Using default settings.
TF M30 on USDJPY USDCHF EURJPY GBPJPY CHFJPY EURUSD USDCAD
JohnThe default settings are optimised for TF M15.
Tf
The default settings are optimised for TF M15.
My mistake I have had it running on TF M15 all since first loaded.
Maybe 6 EAs under test is stretching my concentration.
John
Hendrick,
A big THANK YOU !! for being soo kind.
It means a lot to people from third world countries, who cannot afford expensive trading system nor can spend much time sitting in front of PC else it would cost them more money in electricity bills and also, our daily hunt for bread ensures that, we have to balence it all.
Our hope and dream lay on guys like you, who are so unselfish and kind , we just feel to bow down and salute you.
You are great for the unspoken millions who are repressed and who do not have access to the power of the Internet and to meet people like you, who could change the life of people in a year.
Its exploitation really in this part of the world, always there is strings attached, and here we are soo free spirited forum and people who are ready to move ahead taking others with them..
I plan to open a free cyber cafe in India, with the money I gain from FOREX and trading systems like Phoenix. I know it would be expensive at start. however, it would be good to begin with.
I feel there is no point in feeding people without knowledge. The power of the internet is immense. I fret my 15 years of education without any employment gains, untill i came across trading. even if i earn 10 USD a day, Its like living a king in here. I would want people here to explore the internet in true ways and meet people like Hendrix to change their life.
Really what all these reforms can't do in a decade, the internet would do it in a year.
Thank you Hendrick again for being so free spirited, folks its truly amazing, even a teacher in our school, college charges a fee for education and here its all free free free, who says there is no such thing as free lunch..i say with guys like Hendricks around, our life is in for a eternal holiday
You Rock !!
{sorry for the long message, i just wanted to get this out of my mind asap
Time Filter with Phoenix
Hi Hendrick,
Thinking another way to improve Phoenix.... is using time filter. so far I test it with ignoring trading on 22:00 GMT will a bit increase profit on backtest for both GBP/JPY and USD/JPY.
Also perhaps news hours, we have to stop trading.....
My daily work is too demanding at this moment to follow this forum every day. But don't worry, I will post Phoenix version 5 this weekend. Wish I could do this for a living!
In my live testing I'm going to reduce the lots to 0.01 for all pairs except GBPJPY and USDJPY until things turn around a bit.