Phoenix EA - 2nd Place at Automated Trading Championship!

[iezcha]

Originally Posted by emeric33

what are the settings used in the contest? Are they the default settings of the expert?

I use contest setting...

[emeric33]

Originally Posted by iezcha

I use contest setting...

ok...but what are the contest settings?

regards

emeric

[scorpion]

Phoenix 4 contest.mq4 has the settings for USDJPY.

[Quiz22]

Hello, we are Newbies and feel very fortunated to have downloaded a copy of the Phoenix 5.6.03 and would like to thank Hendrick for his wonderful creation.
We started this EA on our Interbank Demo account and did not change any of the settings. It already produced a $266 win in only one day. Wow!
We have no programming experience and don't even understand some of the terms used here. Can anyone help us and let us know if we have to optimize the settings and/or make any other suggestions which might be helpful. We would also like to know what the percentage of drawdown has been during the program's worst performance and how long it usually takes to overcome most drawdowns.
How often does one take profits and restart the program or do you just let it run continuously?
How much equity do you recommend to start with on a mini or standard account? Does anyone here run this on a live account or are you all just backtesting it or running it in Demo Mode?

And last but not least, which version is better, the Contest Version or the 5.6.03?
Thank you very much for your help.
Be Blessed
Bea and Rob

[daraknor]

Hello,

I have been working on maintaining the code for Phoenix since Hendrick decided he wanted his life back (thousands of users).

The main Phoenix location is forex-tsd.com/phoenix/ The sticky threads have the FAQ and Development threads, with the most recent version in the first post.

I do not recommend using Phoenix 5.6.3 with Mode 2 or Mode 3, it has a lot of bugs. Mode 1 works fine. In Phoenix 5.6.6, Mode 1 changed to be slightly more consistent with placing trades (so 2 people using the same broker get similar trades).

Mode 2 and 3 are still being debugged, we are trying to make these versions stable. The main intent of Mode 3 is to break up a trade into 3 parts. If the first part (at 0.5 of normal profit) exits, then the other two parts (at 1.0 * profit and 1.5 * profit) will not loose money - at worst they break even.

Phoenix is "settings fragile" and it may need some new settings. The main Phoenix forum has two threads dedicated to this purpose (one research, another publish) as well as several guides and manuals. Most people are still making money with the default settings, averaged over a several currencies.

Phoenix 6 will start development after we have a stable working version of Phoenix 5.6.x We don't recommend IBFX as a broker for Phoenix, (or at all) and tests show about 3x the profit using different brokers.

We are also setting up a Phoenix Fund, for people to donate or use as an introducing broker. Using PhoenixFund as an IB donates money out of the brokers pocket and doesn't cost users anything. We have been approved, but paperwork is still processing. Donations (minus bank fees only) are used to trade Phoenix. Profits from trading (and not donations) will be donated to nonprofits and charity projects. We may have a separate "for development & maintenance" fund since we have received several offers.

Phoenix Code Maintainer

[daraknor]

Originally Posted by Quiz22

How often does one take profits and restart the program or do you just let it run continuously?

continuous

How much equity do you recommend to start with on a mini or standard account? Does anyone here run this on a live account or are you all just backtesting it or running it in Demo Mode?

Phoenix will automatically scale trading to match your balance. Please keep in mind that trades will move *against* you to start, and then they reverse. Phoenix is a trend reversal system.

And last but not least, which version is better, the Contest Version or the 5.6.03?

Contest is for USDJPY only. 5.6.7a has updated settings for 6 currencies. We don't know if EURUSD settings are ready for live trading yet.

Phoenix 6 will have trend detection, which will help greatly in trending markets.

[daraknor]

Originally Posted by scorpion

Somebody claims this system is originally invented by our friend TraderSeven.

By that I assume you mean the trading rules, and not the actual code. The code is currently copyright Hendrick, and he had posted several different versions over a period of weeks. Right now the community has altered about 1/3 of the code in Phoenix (as of Phoenix 5.6.7a) since Hendrick rejoined his family. By Phoenix 6, the code will be 100% original, and copyright PhoenixFund.

[scorpion]

Right, the code is Hendrick's. I can't imagine how neat the code is. Amazing coder.

[daraknor]

Originally Posted by scorpion

Right, the code is Hendrick's. I can't imagine how neat the code is. Amazing coder.

The main reason to refactor the whole thing is increased generic modularity. Right now it uses functions but they are very specific and conditional to mode.

[pepbullish]

Hi friends,
i am brazilian and i am a newbie and i dont speak english
i can use phoenix ea in account 100 dolars(small account)? if yes, which the best configure for account 100 dolars? 100 dolars i can buyt only 0.1 lot, which correct configure ea for mini account?
Very thanks friends
i wait for you in carnival here in brazil, 16 - 20 february
cya!!