PhiBase Pro

[Ru]

So... I stopped trading this when v3 was announced and with all the Euro chaos, haven't put it back on yet. Am still deliberating as to whether I should hold off for a while more before putting it back on...  The current reference accounts don't look that attractive.

Also, what's the deal with the website? Does anyone know why it's still not been updated?

There is another account http://www.myfxbook.com/members/phibase/phibase-pro-v30-fxpro/326531.  The Alpari UK account is having some errors and will be updated in a few days. This is as per PhiBase Techsupport to my inquiry.

[e1vis]

So... I stopped trading this when v3 was announced and with all the Euro chaos, haven't put it back on yet. Am still deliberating as to whether I should hold off for a while more before putting it back on...  The current reference accounts don't look that attractive.

Also, what's the deal with the website? Does anyone know why it's still not been updated?

There is another account http://www.myfxbook.com/members/phibase/phibase-pro-v30-fxpro/326531.  The Alpari UK account is having some errors and will be updated in a few days. This is as per PhiBase Techsupport to my inquiry.

Thanks. So are you all trading USDCHF? I thought the vendor suggested v3 should be EUR only?

[Ru]

So... I stopped trading this when v3 was announced and with all the Euro chaos, haven't put it back on yet. Am still deliberating as to whether I should hold off for a while more before putting it back on...  The current reference accounts don't look that attractive.

Also, what's the deal with the website? Does anyone know why it's still not been updated?

There is another account http://www.myfxbook.com/members/phibase/phibase-pro-v30-fxpro/326531.  The Alpari UK account is having some errors and will be updated in a few days. This is as per PhiBase Techsupport to my inquiry.

Thanks. So are you all trading USDCHF? I thought the vendor suggested v3 should be EUR only?

Please read last page. You can see that I have been trading live(Real account) since release. You can also see that current open trades are exactly same as mine.
 
Vendor never said don't trade UC. They only said that the Alpari UK account only trades EU.

[e1vis]

Advertisement

So... I stopped trading this when v3 was announced and with all the Euro chaos, haven't put it back on yet. Am still deliberating as to whether I should hold off for a while more before putting it back on...  The current reference accounts don't look that attractive.

Also, what's the deal with the website? Does anyone know why it's still not been updated?

There is another account http://www.myfxbook.com/members/phibase/phibase-pro-v30-fxpro/326531.  The Alpari UK account is having some errors and will be updated in a few days. This is as per PhiBase Techsupport to my inquiry.

Thanks. So are you all trading USDCHF? I thought the vendor suggested v3 should be EUR only?

Please read last page. You can see that I have been trading live(Real account) since release. You can also see that current open trades are exactly same as mine.

Thanks Ru. I have been following your results (and Mikes) but was wondering about other people. May I ask what risk allocation you're using for each pair?

[Ru]

Thanks Ru. I have been following your results (and Mikes) but was wondering about other people. May I ask what risk allocation you're using for each pair?

I always test EAs on Real account so lots are small and size is immaterial. Probably next week I will go live with 1/2 recommended size.

[Ru]

Total v3.0 result in pips since release:
EU 293pip loss
UC 209pip profit

Currently 2 Long EU @1.2550 and @1.2577
Currently 1 Long UC @.9464 closed @.9577 --113pip profit

[Ru]

http://www.myfxbook.com/members/phibase/phibase-pro-30/324597 is running now.

[mikepipmaker]

So... I stopped trading this when v3 was announced and with all the Euro chaos, haven't put it back on yet. Am still deliberating as to whether I should hold off for a while more before putting it back on...  The current reference accounts don't look that attractive.

Also, what's the deal with the website? Does anyone know why it's still not been updated?

There is another account http://www.myfxbook.com/members/phibase/phibase-pro-v30-fxpro/326531.  The Alpari UK account is having some errors and will be updated in a few days. This is as per PhiBase Techsupport to my inquiry.

Thanks. So are you all trading USDCHF? I thought the vendor suggested v3 should be EUR only?

I have been using this account by Birt for reference 

http://www.myfxbook.com/members/birt/phibase-pro/247350

it provides for a better reference for the following reasons:

1) Altough the start capital of the account is only $300, the contract size is 10000 instead of 100000. This enables the EA to calculate the lot size as if this is a $3000 account.
2) Birt never interferes with the functioning of EA's - Have very high regard for his reviews and tests. Updates are applied to the account just as other members receive the update. 
3) The test was started in Mid Feb and has provided a very consistent reference for EURUSD trades - Birt seems to be comfortable running only EURUSD for now.
4) This is a real account - good EA's tend to function well on real accounts (not sure why). Most other test sites run the EA's on demos and the results do not seem to match  trades at my end. 

I have provided the vendor with feedback on Drawbacks with their real account :

Start capital is $300 - MBT's minimum is microlot 0.01 - Due to this the EA runs all trades and every position using the minimum allowed lot size. Even though the vendor has set the allocation to 8 or 10 or what ever.. the ea will still trade with the same lot size.

While running v2.2 - the trade size would be 0.01 for a capital of about $500 when allocation was 10. For running 3 pairs, the minimum margin should be around $1500 - The vendor was running 3 pairs on $300 which effectively meant that the risk allocation was equivalent to about  50 - That explains the bad DD seen on the real account.

The vendor did not interfere with the trade which the EA lost control of due to some issues with the VPS/MT4. They instead used the opportunity as a test situation for developing methods to enable the EA to regain control of those trades. 

I understand the vendor is making arrangements to run a real reference account on the same line as Birt.

[mikepipmaker]

So... I stopped trading this when v3 was announced and with all the Euro chaos, haven't put it back on yet. Am still deliberating as to whether I should hold off for a while more before putting it back on...  The current reference accounts don't look that attractive.

IMO : Never try to time the market - Never try to switch on and off a EA based on gut feeling or speculation.



It does appear that any EA's hidden motive is to lose our money - but the good honest ones do recover the losses and do some good to the account.

Frankly, I do not see the logic of stopping a EA after or during DD - the DD was well within normal limits seen in backtests. Infact the v2.2 backtest had DD's as deep as 1500 pips at one point. The current DD on EURUSD pair was about 600 pips.

Since the v2.2 used GU and UC pairs based on EU (I consider this a more or vendor propitiatory method) the DD reached about 1000 pips on accounts trading 3 pairs. For risk allocation of 10 I had a DD of about 26%. I guess it would have been lower on other accounts running at lower risk. i did not lower risk and continued with the same allocation right through the EA has fully recovered the losses and equity is back at mid April levels.

I did not see any problem with v2.2 - infact it was very good and I would like to run it on  a separate account - Will wait for the vendor information about details on V3 and why they consider it better than v2.2

This is a long term EA - it is not a scalper or wally. It will have DD's - This could happen anytime - could happen as soon as we start the EA or at a later time. It would be impossible to say.

The best way to decide will be to sit through 1 or 2 years of visual back test - This will provide a good amount of detail on how the EA trades. It will also increase your confidence in the system. Seeing and understanding how a EA handles losing trades, seeing the EA in DD and then recovering will actually enable us to run the EA live with lesser tensions. 

Of course, The above is not true for all EA's - I got hurt with FFM - loved the backtest and lived through the horror on live  . but that was before I joined this forum. EA's like phibase,  BBEA, FGB have been discussed wll in this forum - they have been reviewed, checked for cheat codes, etc.

But any amount of review and analysis will not help us run the EA confidently on live accounts until we really sit through and watch the EA perform in visual backtest.

If you do not understand the system or find it too good to be true - Do not buy it. I am still following BBEA (sale is closed, but still tracking it to see if I missed a good one). The confusion on versions and varying trades between brokers is not helping and am losing interest slowly. 

Trend followers are one category of EA's - I like phibase because it is different, has been trading levels very beautifully.  Even when it loses it did make lot of sense... maybe because I am still predominantly a manual trader. 

[mikepipmaker]

So... I stopped trading this when v3 was announced and with all the Euro chaos, haven't put it back on yet. Am still deliberating as to whether I should hold off for a while more before putting it back on...  The current reference accounts don't look that attractive.

Also, what's the deal with the website? Does anyone know why it's still not been updated?

There is another account http://www.myfxbook.com/members/phibase/phibase-pro-v30-fxpro/326531.  The Alpari UK account is having some errors and will be updated in a few days. This is as per PhiBase Techsupport to my inquiry.

Thanks. So are you all trading USDCHF? I thought the vendor suggested v3 should be EUR only?

Please read last page. You can see that I have been trading live(Real account) since release. You can also see that current open trades are exactly same as mine.
 
Vendor never said don't trade UC. They only said that the Alpari UK account only trades EU.

Vendor email said NOT to trade V3 on GU.

Recommended for EU - Can also be used for standalone trading of UC.

The V3 UC backtest is okay - safe enough to use - But set allocation level to lower than 1/2 of what you use for EU.

Just remember to set Pair = 2 for UC

I am running v3 with allocation of 8 for EU and 4 for UC. 
 

[KeepCalm]

Thanks, Mike.  I had not picked up on the Pair+2 for the USDCHF.

[Ru]

The V3 UC backtest is okay - safe enough to use - But set allocation level to lower than 1/2 of what you use for EU.

Just remember to set Pair = 2 for UC

I am running v3 with allocation of 8 for EU and 4 for UC. 

Recommended setting for EU and UC for v3 is 8, however I am going to set 4 for both starting next week if all goes well.

[e1vis]

So... I stopped trading this when v3 was announced and with all the Euro chaos, haven't put it back on yet. Am still deliberating as to whether I should hold off for a while more before putting it back on...  The current reference accounts don't look that attractive.

IMO : Never try to time the market - Never try to switch on and off a EA based on gut feeling or speculation.

Thanks Mike. I agree 100% - just to be clear, I'm not trying to time the markets, I stopped the ea when v3 was announced and my view is/was that the current eu mess makes (pattern) trading very difficult.

PB is not the only EA I'm not running at the moment, but this has nothing to do with experiencing drawdown, it's to do with the fact that these are unprecedented times with very random market moves taking place, so I'd prefer to wait for things to settle down a bit.

[mikepipmaker]

So... I stopped trading this when v3 was announced and with all the Euro chaos, haven't put it back on yet. Am still deliberating as to whether I should hold off for a while more before putting it back on...  The current reference accounts don't look that attractive.

IMO : Never try to time the market - Never try to switch on and off a EA based on gut feeling or speculation.

Thanks Mike. I agree 100% - just to be clear, I'm not trying to time the markets, I stopped the ea when v3 was announced and my view is/was that the current eu mess makes (pattern) trading very difficult.

PB is not the only EA I'm not running at the moment, but this has nothing to do with experiencing drawdown, it's to do with the fact that these are unprecedented times with very random market moves taking place, so I'd prefer to wait for things to settle down a bit.

E1vis, sorry for having mis-interpreted your post and shooting out my 'humble' opinions     

Just getting old - finding myself in this situations quite often now with my daughter 

BTW, I really agree with your idea of letting things settle down politically before starting trade again. I had switched off FGB and Wally prior to Greek Election weekend. Restarted them on Monday and have been hit very badly this week.

I am putting off manual trades for another week or so... it is really tough trading under these conditions.

[mikepipmaker]

Recommended setting for EU and UC for v3 is 8, however I am going to set 4 for both starting next week if all goes well.

Hi Ru, When the allocation for EU and UC is set to 8, the trade size for UC becomes larger than that of EU. For example when using allocation 8 on my account, the trade size is 0.18 for EU and shows as 0.23 for UC. Based on the backtest, EU is the best performing pair, UC is okay. So I have set the UC allocation to 4 which is now making it trade with position size of 0.12

Part of the vendors email does advise us to do so, although it was not specifically mentioned to use 1/2 of EU's allocation.

Recommended Pair : EURUSD

Other Pairs : USDCHF (suitable for stand alone trading). Version 3.0 has
enabled standalone trading for USDCHF pair - this can be used for currency
diversification - However, The EA performs best with EURUSD. It is highly
recommended to use lower allocation when trading USDCHF.

PhiBase V3.0 is not suitable to run other pairs like GBPUSD - Not
recommended for trading with Version 3.0.