Phoenix - Development+Suggestions - MQ4 in Post#1 - page 2
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Hi! I'am testing Phoenix 5 on live account, and I've got a proposal.
As you could notice, very often opened position go against us for 20-30 and more pips before hitting take profit, or it hits stoploss. For example,Phoenix buys at 1.2900. Then the price goes to 1.2870 (-30 pips float) and later it reaches 1.2942, or again reaches 1.2900 and goes down until stoploss is hit without any profit.
So, we can use that by putting buylimit order at 1.2870 (after position at 1.2900 is opened) with the same stop loss as the first position has, that is 1.2900-84pips=1.2816, and take profit 1.2942 or just at break even point 1.2900. Therefore, in that situation we receive additional profit, and we can reach very good gain/loss ratio, even 2:1 unlike it is now 1:2 or 42/82.
Please, give your comments.I am trying to understand your suggestion and I don't see how you decided to set the buylimit. I'm still eating breakfast so I'm not a little disoriented early morning.
Since I am not understanding, I will explain an idea that is similar but not the same, maybe someone else will understand us both. Maybe I will read this again in 2 hours and I will understand.
Phoenix is currently limited to 1 trade per currency. An alternative would be changing Phoenix to having 1 trade with SL = potential loss, and then enter additional signals as they come in. If our risk on the first trade is 0 pip, and we receive an opposite signal, should we execute the signal?
test mode 1 on phoenix
hi,
i am testing phoenix with mode1, as you can see test is good, i want to continue test in the next weeks, because i want to verify the profitability and drawdown of EA. (i am using demo fxdd)
what do you think if we introduce maxorders and pipstep for additional order ( do you remember firebird?)
i am thinking that if we want EA-stable we must manage those lose-orders with additional orders
giapel
Weekly build notes:
HerbertH Mode3 fix
This is the Hendrick approved fix for mode 3. There is no change to the buy logic, but the stoploss code has been edited. If position 1 exits at a profit, position 2 has SL = breakeven, position 3 has SL=Position1Profit/2. Now if the first position wins, second position at least breaks even, and the third position will have at least half of first position profit. Most of the code has been edited for Mode3, but most of it was equivalent code. New code looks very clean. No settings to change.
Dagnar@ForexFactory Consecutive Signals
(Ignore Buy/Sell tick signals less than threshhold, setting of 5 had excellent results backtested by Dagnar. Reported 50% more profit EURJPY in Mode 3 v5.6.3. A setting of 1 should not affect trading at all. http://www.forexfactory.com/forexforum/showpost.php?p=140153&postcount=875
A setting of 100 and 200 were used with very very good backtested results.
http://www.forexfactory.com/forexforum/showpost.php?p=140169&postcount=876
The timeframe is "ticks of confirming signals" not minutes or timeframes. I don't know the new method for approximating intrabar tick data in Build200 backtesting but this setting is very conditional on that method. (This also means Build198 will ahve different results than Build200 for this parameter.) Another variation submitted by Dagnar on the FF forum is based on "consecutive bars for the same signal" which would pick entry signals independent of the intrabar algorithm.
Daraknor "MaxTrades" option
This is just a research option because I am curious. I posted above that people trading the same broker at the same time for the same currency were getting vastly different results. The main reason for this is a slight offset in the trading. I think manual closing or editing the trade signals in any way vastly alters the entire trading behavior from then on. As a matter of curiousity, I would like to see more trade signals. I would recommend a very low max risk if this setting is over 5. I have not tested it at all (cutting edge weekly build), a value of 1 should not change behavior. I thought this was a very useful addition when combined with the consecutive signals option because consecutive signals will automatically stagger the trades (instead of opening 1 trade per tick). This trade change may be explosive - be warned. A large setting is a gamble, but adding code here is easier than writing a ton of code to view the signal output.
Summary: using default values is essentially 5.6.3 with a mode3 fix. We have two parameters to adjust now to research how to increase the trade stability of Phoenix.
Thank you all for contributions, we have many things that would be excellent to add. Out of the design comments so far, how would you like Phoenix to be developed? All comments are welcome, all code contributions are welcome.
The current system has a maxtrades = 1 per currency. I introduced a setting that allows more trades per currency but I haven't tested it yet. (Default is keep the same behavior as before.)
Could you post your live test results in the "Live Testing reports" thread? Easy access by clicking Phoenix in "Forex Trading > Trading systems > Phoenix"
HerbertH Mode3 fix
Thanks very much HerbertH for your trouble! Your effort seems to be a bit 'snowed under' because of all the recent developments. Just wanted to let you I for one appriciate your work very much!
Vince
PS:
Regent hier nog steeds... :-(
[=dutch for: still raining here...]
I like your idea
Hi Trader83, I am also testing and I like your idea - I was thinking along those lines myself. So is this what you mean more or less?
Price usually goes against initial trade by 20-30pips so why not take advantage of it by setting a buy/sell limit at the same time the buy or sell signal is generated. you could set the TP to the open price say 15-30 pips or let it ride along with the first TP of 42 pips(or whatever). If it isn't hit then have phoenix close it when 1st TP is hit.
Hi! I'am testing Phoenix 5 on live account, and I've got a proposal.
As you could notice, very often opened position go against us for 20-30 and more pips before hitting take profit, or it hits stoploss. For example,Phoenix buys at 1.2900. Then the price goes to 1.2870 (-30 pips float) and later it reaches 1.2942, or again reaches 1.2900 and goes down until stoploss is hit without any profit.
So, we can use that by putting buylimit order at 1.2870 (after position at 1.2900 is opened) with the same stop loss as the first position has, that is 1.2900-84pips=1.2816, and take profit 1.2942 or just at break even point 1.2900. Therefore, in that situation we receive additional profit, and we can reach very good gain/loss ratio, even 2:1 unlike it is now 1:2 or 42/82.
Please, give your comments.Thank you
Ditto on a big thank you to Herbert.
Greg
Hi! I'am testing Phoenix 5 on live account, and I've got a proposal.
As you could notice, very often opened position go against us for 20-30 and more pips before hitting take profit, or it hits stoploss. For example,Phoenix buys at 1.2900. Then the price goes to 1.2870 (-30 pips float) and later it reaches 1.2942, or again reaches 1.2900 and goes down until stoploss is hit without any profit.
So, we can use that by putting buylimit order at 1.2870 (after position at 1.2900 is opened) with the same stop loss as the first position has, that is 1.2900-84pips=1.2816, and take profit 1.2942 or just at break even point 1.2900. Therefore, in that situation we receive additional profit, and we can reach very good gain/loss ratio, even 2:1 unlike it is now 1:2 or 42/82.
Please, give your comments.I think it is very good idea and would generate some additional profit ..........if not extra loss sometimes
You can calculate yourself manually whether price will move 'for your idea' or against on simple backtested open chart.
Easy to do is to apply this MT4 'distance measure technic':
1.Click center weel of your mouse on the Bar the trade is open (get crosshair)
2.Click and hold left mouse button and move it ot next point of interest bar
and MT4 will display distance from your previous click in format... ....bars/pips/price
This is simple and you can estimate % of ....for you/...against you
and have some basic results for your idea for say 100 trades and post it here
Hi Trader83, I am also testing and I like your idea - I was thinking along those lines myself. So is this what you mean more or less? Price usually goes against initial trade by 20-30pips so why not take advantage of it by setting a buy/sell limit at the same time the buy or sell signal is generated. you could set the TP to the open price say 15-30 pips or let it ride along with the first TP of 42 pips(or whatever). If it isn't hit then have phoenix close it when 1st TP is hit.
Reading this when I'm awake helps a lot. That does make sense but knowing what "usually" is would be important. Maybe set a SL=breakeven once you hit 5 pip profit too. Adding trades like this sounds like a fun thing to do for Phoenix 6 candidates, trying out new code.
Right now my main interest is simply making Phoenix more reliable and robust. I will put this on my list of things to write. If someone else wants to write it in the meantime, sounds great. Having a few experiments sitting around would be entertaining to programmers I think.
The irregularity in trading with the same broker, same data, same settings, same timeframe, same ... everything is my main concern. Sometimes 2 installations stay in sync, sometimes they trade with opposite signals. (Billworld2 live testing, trading results in old thread, my results I need to post) I am hoping that the consecutive trade filter will help filter reverse results.
Since the indicators are based on the differences between values (moving average, etc), a small difference would yield a trade. The size of the values aren't checked, just their relative value. If the values aren't very strong one way or another, they may bounce back and forth quickly. A filter has been added in the 5.6.4 (you need to modify settings to activate it) to not trade on changing signals.
if(CloseBar1 < LowEnvelope1) {BuySignal1 = true;}
if(SMA2-SMA1>0) {BuySignal2 = true;}
if(SMA2-SMA1<0) {SellSignal2 = true;}
if(OsMABar2 > OsMABar1) {SellSignal3 = true;}
if(OsMABar2 < OsMABar1) {BuySignal3 = true;}
if(diverge >= DVBuySell && diverge <= DVStayOut)
{BuySignal4 = true;}
if(diverge = (DVStayOut*(-1)))
{SellSignal4 = true;}
(Signal 4 is custom)
There are three additional consequences I forsee with the filters. 1) trades will be slightly delayed, which will have a the configured number of ticks delay before a trade is entered. This ultimately means less drawdown but too large of a value may miss a trade. 2) No wavering between values where the indicators don't offer strong conclusions. 3) The signal threshold also acts as a time filter. The current version is tick based (which I like) and a fix was submitted to make it time based (which may not respond to high volatility in time to trade). Adding time filters also enables us to add multiple simultaneous trades.