Phoenix 2007 (new thread) - page 77
You are missing trading opportunities:
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
Registration
Log in
You agree to website policy and terms of use
If you do not have an account, please register
Mode 3
That's easy. Different brokers have different quality of data for free accounts...
Also spreads. For example, at Crown Forex, you have for many curencies 10 pips spread. So trade need to go in 'correct' direction 9 more pips in my case (Crown) comparing to your broker if it has only one pip spread. So you can book profit (I'm close) then pair turn in the oposite direction and I may have loss.
So, when you post your statements, post your brokers, and what spread you have with them.
More informations we gather here, better will be results for everyone.You are right. The statement I posted shows that broker is INTERBANKFX. Anyway please consider that the gains I made this week could not be affected too much by spread. In my case I would like to trade EURUSD because IBFX apply a spread of only 2 pips so I wait this pair for Phoenix
. On the 4 pairs I trade spreads are from 3 to 5 pips but as Phoenix made many trades from 20 to 100 pips of gain (as you can see by my statement posted yesterday) this could not be the reason for losses.
I saw that IBFX demo and real accounts work perfectly the same so I thought this could not be the problem but if you tell me some brokers make big differences b'ween real and demo this could be the reason.
Thanks,
Raffaele
Setting
Hi Hendrick,
Where can I learn doing setting for Phoenix?
Thanks.
The statement I posted shows that broker is INTERBANKFX. Anyway please consider that the gains I made this week could not be affected too much by spread.
Raffaele
Yes, statement shows which broker was used, I forgot his, sorry, - i'm pretty new in this bussiness
No, your gains werent affected with the spread. What I was refering was, that because of different spreads (and quality of) data one winning trade can turn into the loosing on another computer (broker). (you were asking, how come, some have losses)
Live trade may differ even more, since some brokers may go (actually they do) against you to trigger stop sell order (if it is close) and other broker not, hence you have again gain with one broker and loss with another....
So thank you for info, that your broker's free data doesn't differ from live. One thing (info) we will need to track is, which brokers works better with this EA. And only live accounts will give us usefull info, since broker will not go against you on demo accounts.
In a time, we will know, which brokers to use...
Two way sharing
I've posted this on the 'sisters' thread at forexfactory and I know many read both threads, but for those that don't, I'm reposting this here:
I have two ideas. First one is about a little help to Hendrix here on the forum. Every time, when we see keep repeating (not very usefull) questions about time frame etc... addressed to Hendrix, let we jump in - whoever is first - and answer and that way take off Hendrix a little of burden. And Hendrix, you just ingore those questions, let we take care of them.
Second is about sharing. Now mostly Hendrix is sharing with us. Mine idea is, that we start too. My suggestion is, that we all send email's to Hendrix, whith a little description, where we are (live) and what we do.
So, that way, Hendrix get a little group of people, who wanna share back with him. Say, Hendix need something, he can ask the group, if someone know/can help....
If he is going for a trip around the world, he may be in the neighborhood of someone and that one may help him with something....
That way, there would be two way sharing... much more fair.
Chat
A chat room could also be interesting....This diferred communication is a bit stressing above all in winter weekends when there is more time to talk about the matter we are interested in. Over the week maybe we are too busy with work and experts running
...but on weekends...
Bye!
Raf
Hi Harry, wonderful work you got here and also very nice result on Metaquotes contest, I hope you take the prize home. I saw some threads discuss about phoenix and also this thread become bigger and bigger every days. How about you ask the moderator to have separate section for phoenix, like CatFX, Harmonic Trading, etc. Just my two cents
One of the things that people may not understand coming to Forex to begin with is that the *broker* dictates the price, not the market. The broker charges you with whatever price they choose. They are trading Forex at the same time, but only on the orders that don't cancel out (500 lots buy EURUSD and 400 lots sell EURUSD). If the broker isn't in the market for 100 lots, they would need to pay the traders profits out of their own pocket. They rely on a combination of tactics to make (and keep) money, including changing prices after you send in buy/sell signals, hitting SL or missing TP levels by price fixing, changing the spread, etc.
A few trading practices help, like using longer term trading. Some brokers don't allow trades that last less than 90 seconds, other brokers require 10 minutes minimum.
Brokers give different prices, and by comparing data from a few brokers I see a difference of 2-5 pips constantly. With Level 2 access (no charts or indicators) you have direct market access and can see bank and broker volume, often 6000-18000 10k lots in 2-4 seconds. These prices are *very* stable, and if I ever trade the news that is how I will do it. These prices don't vary as much as broker prices, and brokers sometimes touch market prices.
Ultimately we test demos to get good statistics for tuning Expert Agents, but we won't know true performance until we trade 5-10 lots at a time (because then the broker might actually enter the market). We can earn money in the meantime, but it is up to the broker how much, etc. Sometimes Demo data and Real data don't agree. (If anyone has real history and demo history from one broker, I will compare the data using some SQL magic... SELECT * WHERE t1.price != t2.price )
I'm going to be running a 5 broker test next week with identical settings. I had two brokers with identical settings this week and the two EA often agreed, but based on broker differences the financial reports varied on win/loss. BTW if you do look at the H1 reports please understand that you should *not* set H1 as the timeframe. I wanted to see how bad it would do
(I think the main reason for the performance was the indicators using PRICE_CLOSE but Hendrick hasn't commented.)
When we talk about brokers, we are often trying to figure out how much we should trust our data. Spread is important if you do a lot of trades, but we care more about false or manipulated data messing up big trades. I'm writing EA tools to hide the TP and SL data so we can surprise the brokers and hold them to their quote without foresight on how the trades will be affected.
Hi Harry, wonderful work you got here and also very nice result on Metaquotes contest, I hope you take the prize home. I saw some threads discuss about phoenix and also this thread become bigger and bigger every days. How about you ask the moderator to have separate section for phoenix, like CatFX, Harmonic Trading, etc. Just my two cents
Hi Firedave!
It's an honour to have you here in this thread! I admire your work and especially your "UniversalMACrossEA". This EA of yours is an example to me of how to program an EA. I think it's a brilliant piece of work!
Regards,
Hendrick.
One of the things that people may not understand coming to Forex to begin with is that the *broker* dictates the price, not the market. The broker charges you with whatever price they choose. They are trading Forex at the same time, but only on the orders that don't cancel out (500 lots buy EURUSD and 400 lots sell EURUSD). If the broker isn't in the market for 100 lots, they would need to pay the traders profits out of their own pocket. They rely on a combination of tactics to make (and keep) money, including changing prices after you send in buy/sell signals, hitting SL or missing TP levels by price fixing, changing the spread, etc.
A few trading practices help, like using longer term trading. Some brokers don't allow trades that last less than 90 seconds, other brokers require 10 minutes minimum.
Brokers give different prices, and by comparing data from a few brokers I see a difference of 2-5 pips constantly. With Level 2 access (no charts or indicators) you have direct market access and can see bank and broker volume, often 6000-18000 10k lots in 2-4 seconds. These prices are *very* stable, and if I ever trade the news that is how I will do it. These prices don't vary as much as broker prices, and brokers sometimes touch market prices.
Ultimately we test demos to get good statistics for tuning Expert Agents, but we won't know true performance until we trade 5-10 lots at a time (because then the broker might actually enter the market). We can earn money in the meantime, but it is up to the broker how much, etc. Sometimes Demo data and Real data don't agree. (If anyone has real history and demo history from one broker, I will compare the data using some SQL magic... SELECT * WHERE t1.price != t2.price )
I'm going to be running a 5 broker test next week with identical settings. I had two brokers with identical settings this week and the two EA often agreed, but based on broker differences the financial reports varied on win/loss. BTW if you do look at the H1 reports please understand that you should *not* set H1 as the timeframe. I wanted to see how bad it would do
(I think the main reason for the performance was the indicators using PRICE_CLOSE but Hendrick hasn't commented.)
When we talk about brokers, we are often trying to figure out how much we should trust our data. Spread is important if you do a lot of trades, but we care more about false or manipulated data messing up big trades. I'm writing EA tools to hide the TP and SL data so we can surprise the brokers and hold them to their quote without foresight on how the trades will be affected.Hi Daraknor!
As always, a very professional post from you! But hiding the TP and SL for your broker: is this really a good idea? As we know it's not too difficult to change an EA so it hides the TP and SL to your broker. But what if you loose your connection with your broker for let's say more than 24 hours and in these 24 hours prices went up or down substantially. You could be in serious problems then because your open trades have no SL!