Phoenix - Development+Suggestions - MQ4 in Post#1 - page 38
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bad bad fundamental announcements
I am new to Phoenix and Forex trading. I am testing Phoenix 5.7.4, seems to be very good work but I see where fundamental announcement can be problematic.
I have a suggestion:
1. Create another user signal that allows for setting the times for fundamental announcements daily
2. when the announcement time arrives, Phoenix will set a OCO say 10 pips above and 10 below the current price (or the user can decide on how many pips)
3. A stop loss and take profit can also be set
4. if a previously open position is going further in the red due to this announcement the close it without waiting for it to hit the stop loss
5. once the stop los is hit, look set another OCO
6. one the peroid has passed then let Phoenix operate as normal
I am new to Phoenix and Forex trading. I am testing Phoenix 5.7.4, seems to be very good work but I see where fundamental announcement can be problematic.
I have a suggestion:
1. Create another user signal that allows for setting the times for fundamental announcements daily
2. when the announcement time arrives, Phoenix will set a OCO say 10 pips above and 10 below the current price (or the user can decide on how many pips)
3. A stop loss and take profit can also be set
4. if a previously open position is going further in the red due to this announcement the close it without waiting for it to hit the stop loss
5. once the stop loss is hit, look set another OCO
6. one the period has passed then let Phoenix operate as normalWe are now in the development of Phoenix 6. New ideas like this should be suggested there. In this version I am just trying to fix the last bugs.
p v 4
Start your search here
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Thanks indeed for your kind prompt help--- it was the correct reply-End
I plan to embed FFCal into Phoenix as a filter soon. It is on my todo list, which is rather full. News filters to simply avoid trading (or decrease SL for open trades) would really help avoid a few bad trades we know we can avoid.
Submitting trades for news isn't something that I intend Phoenix to ever do, for many reasons. Primarily, that system does work a little for news trading but the brokers will fight it or skip your order because you are literally taking money from their pocket. Most brokers will simply penalize people who do things like that by injecting large spikes in the opposite direction of the news trend and manage to hit SL while avoid TP. That is a feature of MetaTrader Server, it is simply a button. News on MT4 is a bad idea.
I'm working on an ECN trading platform that will allow news based trading. There isn't any good ECN automated trading platform out there from what I've seen, and I have looked hard. Here is the relevant thread, with my most current update. https://www.mql5.com/en/forum/general
I am new to Phoenix and Forex trading. I am testing Phoenix 5.7.4, seems to be very good work but I see where fundamental announcement can be problematic.
I have a suggestion:
1. Create another user signal that allows for setting the times for fundamental announcements daily
2. when the announcement time arrives, Phoenix will set a OCO say 10 pips above and 10 below the current price (or the user can decide on how many pips)
3. A stop loss and take profit can also be set
4. if a previously open position is going further in the red due to this announcement the close it without waiting for it to hit the stop loss
5. once the stop los is hit, look set another OCO
6. one the peroid has passed then let Phoenix operate as normal!xmeter
try using this indicator !xmeter to generate signals on pairs with a difference of 5 e.g. eur 7 usd 2 = long eur/usd. I can say it's infallible, but it's like no other indicator out there and has absolutely no lag. It's actually an expert but works like an indicator.
Dustin
I'm working on optimizing a new strategy for Phoenix, based on signals 1, 4 and 6 with filters 1 and 2. That is: Envelope, Price Divergence, simple RSI, ATR (complex ratio and simple are both being tested), and a time filter.
The complex ATR filter is included in P6B5, contributed by Wackena. I'm playing around with a simple ATR for Phoenix's main release (we don't seem to have any bugs).
The main thing Phoenix seems to be lacking right now is a solid strategy. Out of 5 trades using an M30 version of the old USDJPY settings, Phoenix Fund has had 4 winners and 1 loss at a 1:2 TP:SL ratio. (Profit factor estimated around 2.0)
While settings for the original Phoenix may phase in and out of profitability, I'm attempting to find some more solid long term settings. Price Divergence has always been our most critical signal, I'm working on a strategy that has no MA calculations. I'm going to work on a Price diverges from RSI peak implementation soon, but these tests are already showing promise.
In other news, the Python platform is executing trades inside MT4 now. In the future, I can add techniques from commercial AI like "Simple Vector Machines" full Neural Networks, etc into EA.
daraknor,
Can you tell me which you would recommend to use your EA indicator? I'm confused to choose which one is best to use in Post #1.
NY168
The only build I'm recommending for trading at this time is Phoenix 6 Beta 5 using the USDJPY M30 settings from the settings thread. Everything else seems unprofitable. I'm working on new and different strategies using the code written.
My optimizations so far have had not good results (P6B5) or were lost (P6B6). I'm still working on it though, and there are a lot of indicators that can be used. I have a vested interest on a personal level to make sure Phoenix (the software) has a profitable strategy with current settings. I'm annoyed Phoenix (the strategy) keeps breaking.
I'm working on optimizing a new strategy for Phoenix, based on signals 1, 4 and 6 with filters 1 and 2. That is: Envelope, Price Divergence, simple RSI, ATR (complex ratio and simple are both being tested), and a time filter.
The complex ATR filter is included in P6B5, contributed by Wackena. I'm playing around with a simple ATR for Phoenix's main release (we don't seem to have any bugs).
The main thing Phoenix seems to be lacking right now is a solid strategy. Out of 5 trades using an M30 version of the old USDJPY settings, Phoenix Fund has had 4 winners and 1 loss at a 1:2 TP:SL ratio. (Profit factor estimated around 2.0)
While settings for the original Phoenix may phase in and out of profitability, I'm attempting to find some more solid long term settings. Price Divergence has always been our most critical signal, I'm working on a strategy that has no MA calculations. I'm going to work on a Price diverges from RSI peak implementation soon, but these tests are already showing promise.
In other news, the Python platform is executing trades inside MT4 now. In the future, I can add techniques from commercial AI like "Simple Vector Machines" full Neural Networks, etc into EA.Daraknor,
Phoenix and its dynamics has been a subject of my analysis and testing over countless train commutes to work. What i found out earlier and keep seeing now is a clash of strategies which more often than desired result in unprofitable trades. Trend-trading and retracements trading indirectly collide in indicators 1 thru 4.
What i did is i took the envelopes and price divergence from Phoenix, combined them with the Laguerre indicator (quite a nifty piece to be said written by some Emerald King), put in trailing stops with 10pips (minimum required by my broker) and been backtesting with consistent long-term profitability results. I do trade EUR/USD primarily and i do prefer M30.
I'm a staunch supporter of retracement trading as well as trying to catch overbought/oversold levels. Primarily coz there's very little i can do to identify the trend without regular fundamental analysis.
Daraknor, i happen to agree that Phoenix now is lacking a directional strategy and putting more indicators may result in more clutter and confusion. So if you fancy a change, we can extract all the useful bits from Phoenix (esp. price divergence, envelopes would do) and focus on counter-trend trading. Lemmi know if interested. Or are you too consumed and busy in trying to put a stop gap solution and rescue the Bird from being engulfed in its own flames?
Best,
Groovy
The only build I'm recommending for trading at this time is Phoenix 6 Beta 5 using the USDJPY M30 settings from the settings thread. Everything else seems unprofitable. I'm working on new and different strategies using the code written. My optimizations so far have had not good results (P6B5) or were lost (P6B6). I'm still working on it though, and there are a lot of indicators that can be used. I have a vested interest on a personal level to make sure Phoenix (the software) has a profitable strategy with current settings. I'm annoyed Phoenix (the strategy) keeps breaking.
I still think that Phoenix settings for GBP/USD are good but in need of a good filter to prevent it from being affected by last month market conditions. In back tests, those negative periods happen and Phoenix recovers nicely after. That is why we need a realistic money management approach to make sure we survive those negative periods.
In any case, if I am not mistaking, Phoenix inside coding can be used for other strategies.